Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Gold => Topic started by: Domithra on March 25, 2018, 06:51:28 AM
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Looking at Bitcoin, Bitcoin cash and Bitcoin gold, do you think Bitcoin gold has some unique features that surpass Bitcoin and Bitcoin cash and that it should be given the much consideration when it comes to investing?
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Bitcoin started like how bitcoin gold is now. I think anything related to bitcoin should be given much attention
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I have the opposite opinion in that anything that is a copy of bitcoin should not be given much attention. Just forking a coin and claiming it is better does not mean we should all be investing in it
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Looking at Bitcoin, Bitcoin cash and Bitcoin gold, do you think Bitcoin gold has some unique features that surpass Bitcoin and Bitcoin cash and that it should be given the much consideration when it comes to investing?
I haven't herd of any benefits of bitcoin gold over bitcoin or bitcoin cash, I read that some members of the community believe its a scam. If we welcome and embrace every bitcoin spawn, we might end up with a hundred of them. I think there is bitcoin diamond as well, which could also be a scam, not 100% sure.
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I think Bitcoin Gold is still the same thing as ordinary coin and has no uniqueness.
In fact, in my opinion, Bitcoin Gold has lost its value and Bitcoin Cash is even better.
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Cryptocurrency forks of various types now take place on a regular basis. Even bitcoin has experienced several different iterations and branches in this way. One of the largest and most discussed bitcoin forks took place late in 2017.Bitcoin gold was a hard fork of the original open source cryptocurrency which took place on October 24, 2017. While hard forks take place for a number of reasons – including for the purposes of scaling as a cryptocurrency customer base grows, or because of developer conflict and differences of goals – bitcoin gold's stated purpose has been to "make bitcoin decentralized again.
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Bitcoin gold can serve as a “currency shelter” - its rate is determined solely by market demand, which means that the limited amount of cryptocurrency and the increasing interest in the system will most likely ensure a further increase in the value of bitcoin.
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I think The team is backed by a robust team of veteran software developers who regularly post updates. It is a community-led project that offers its users a fair opportunity to mine with ubiquitous GPUs.
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Looking at Bitcoin, Bitcoin cash and Bitcoin gold, do you think Bitcoin gold has some unique features that surpass Bitcoin and Bitcoin cash and that it should be given the much consideration when it comes to investing?
As far as I am concern, I do not see anything unique about BTG. There are some who view it as a scam token.
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Bitcoin Gold differs from its brothers - Bitcoin, Bitcoin Cash and others in that it has the Zhash algorithm and mining is possible only thanks to the GPU, which is much more practical than the mining on the SHA256 algorithm for which ASIC miners are needed. In the long run, BTG looks more promising than Bitcoin Cash.
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if I see that bitcoin gold is indeed very good and has the potential and has many features, and I also believe in bitcoin gold for a promising future investment place.
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The purpose behind creating Bitcoin Gold was to make mining decentralized again.
Satoshi Nakamoto’s idealistic vision of “one CPU one vote” for Bitcoin had been displaced by a reality where the manufacture and distribution of specialized mining equipment using ASIC (Application Specific Integrated Circuits) chips is dominated by a tiny number of entities, some of which have engaged in monopolistic and arguably abusive practices against individual miners and the Bitcoin network as a whole. Changing the PoW (Proof-of-Work) algorithm from SHA-256 to Equihash means that specialized ASIC mining equipment designed for SHA-256 are unable to mine on the Bitcoin Gold blockchain. Equihash runs on commodity graphics cards, or GPUs, which are easily available to the public, but Equihash is prohibitively difficult to implement as an ASIC (see: Equihash). As a result, Bitcoin Gold provides an opportunity for countless people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations.
This leads to a more decentralized, democratic mining infrastructure that is both more resilient and more in line with Satoshi’s original vision. Bitcoin Gold was created with that vision in mind. This, to me is the uniqueness of bitcoin gold.