Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Gold => Topic started by: maklampir on September 22, 2018, 07:55:08 AM
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The main reason Bitcoin Gold (BTG) was created was to create a new decentralized block for new miners around the world, because mining on Bitcoin Classic (BTC) was very difficult for miners with low Budget.
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This is a good goal because mining can only be done now by large miners like companies that have used sophisticated tools. So that small miners cannot mine coins anymore.
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So, it's all just for the miners ?? And I thought, new technologies and everything in this spirit. Hmm, my opinion has changed dramatically about this technology. :(
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Bitcoin mining favors those who have dedicated and costly mining hardware. With an algorithm named Equihash, Bitcoin Gold aims to give an average computer user to use his GPU to mine digital currency.
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Bitcoin Gold does not claim that it is the real Bitcoin, but instead, this fork could be healthy for the Bitcoin community. Why is it like that when the hard forks could divide the community and could undermine the confidence in Bitcoin? As the market showed us, Bitcoin price is in an upward trend pushed by the fact that the people that will own Bitcoins on October the 25th (the date when the fork will occur), they will have an equivalent amount of Bitcoin Gold that would be able to be used on November the 1st.
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For me BTG was just a trend hard fork that split from Bitcoin. Since BTG never claimed that they are the real Bitcoin. Bittrex was the first exchange to delist BTG. Anyway it’s a fork from BTC so everyone hope it’s will have a better future.
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I think many cryptocurrencies are based on a proof-of-work (PoW) system, in which miners compete with one another to add blocks and are given new cryptocurrency as a reward for successfully doing so.
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Bitcoin Gold, formed as a result of the next division. As for the position of Bitcoin Gold, it is not the most positive against the background of a falling market. At the moment, you can buy the currency at the lowest cost.
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I think “This is what will be required to make fair mining accessible to the general public once again,” Robert Khune, a strategist at the Bitcoin Gold project, told Bloomberg in October 2017. “A successful fork will prove that Bitcoin always has the ability to escape from any potential abusive mining hardware manufacturers.”
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The main reason Bitcoin Gold (BTG) was created was to create a new decentralized block for new miners around the world, because mining on Bitcoin Classic (BTC) was very difficult for miners with low Budget.
I am just seeing this for the first time. Thank you mate for the topic and the information it contains. I have just learned something new.
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It can also be like that but the effect if you rely on the name "Bitcoin" in front of it seems very cheap and weak.
For example, now Bitcoin Gold has lost its price and it states that Bitcoin Gold cannot compete with Bitcoin.
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The main reason of BTG creation is to light weight the mining of Bitcoin when the difficult is changed after every block
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it's really true of everything you say, and I really believe it all, and gold bitcoin is also very potential to generate mining.
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The purpose behind creating Bitcoin Gold was to make mining decentralized again. 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.
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You could say that because many people talk about the same thing in this forum.
Just look at the prices of Bitcoin Cash ABC and SV are very expensive, far compared to Bitcoin Gold, even though mining tools for Bitcoin, Bitcoin Cash ABC, Bitcoin Cash SV and Bitcoin Gold are very expensive.
This price gap makes the miners get together and maybe if an individual the miners will go bankrupt!