BitcoinGold - The Second Hardfork
Yes BitcoinGold or BTG for short. Yet another hard fork of the Bitcoin Blockchain, much like BitcoinCash a few weeks back.
So this is a new development, and I will edit this post as I gather more info. Because this is so new some of this information might be inaccurate. If you have anything to add please post it below!
When will this happen?
I do not have an exact block number yet but it appears to be getting released around October or November.
Why another hard fork?
As some of you might know Bitcoin is NOT mineable through graphic cards or GPUs for short. It uses a different kind of technology called ASIC, now ASIC is expensive and big companies need to invest millions if not hundreds of millions of dollars to become relevant in the Bitcoin mining game.
This has created a problem, Bitcoin mining has become centralized by these big companies... And centralization goes against the core of Bitcoin, BTC needs to be decentralized.
So BitcoinGold will work on a different mining algorithm making it GPU mineable! Yes, you can then mine BitcoinGold with GPUs.
What does this mean?
It means the ASIC hardware will become useless for BitcoinGold.
It means everyone with a computer could start mining! Or anyone with a budget of around $2300 can build their own full GPU mining rig and become relevant in the BitcoinGold mining sector.
It will create a global network of miners making it decentralized once again.
If I hold Bitcoin will I get BitcoinGold?
Yes, as long as your wallet supports it or if you control your own private key (same concept as BCH)
“For too long, Bitcoin has been held back by the centralize (sic) mining industry,”
“GPU brings Bitcoin into the modern age with an exciting technological roadmap to enable massive on-chain scaling well into the future with decentralize (sic).”
Hardforks are much like altcoins a forkcoin can be created by pretty much anyone really, and it's almost more efficient than starting an altcoin with an ICO. Because with forkcoins you get an airdrop of coins, everyone who owns the original coin now owns the new coin. This is good because then you already have a solid user base + a lot of name recognition. Plus... Everyone gets to keep the same private key, which will mean 1 private key for BTC, BCH, BTG and any other forkcoin that might follow.
I think we will see a lot more forkcoins coming soon. What are your thoughts?
More info: https://cointelegraph.com/news/suddenly-bitcoin-gpu-hard-fork-could-give-bitcoiners-more-free-money
By the time that I finally get around to dealing with all the paper wallets I have, I'll probably have a dozen versions of coins on them. 😅
PW- That will be awesomely lucrative!
You literally copied this from me without giving me credit. I posted this on Hackforums.net on 09-05-2017, 03:13 AM...
https://hackforums.net/showthread.php?tid=5710939
Extremely disappointed that you didn't even give credit to the original author (me)
Anyone knows where is the github home page for this project? Or home page? It looks difficult to find this team on the internet...
Upvoted and Resteemed! I have breaking news on this subject that I will mention on my youtube channel tonight. Also I was the one who broke the Bgold story here:
https://steemit.com/bitcoin/@bitcoinmeister/bitcoin-gold-exclusive-friendly-fork-crypto-dividend-bgold-is-coming-soon
This post received a 1% upvote from @randowhale thanks to @haiku! For more information, click here!
The miners supported Bitcoin Cash, it was developed by miners, they will not support BitcoinGold. Can the little guy keep it going? I don't know.
I think so. Maybe not instantly. But as prices rise more will mine. And many miners already mining will jump on whatever earns them most typically. So if market adopts it so will the miners. Imo
It will be GPU mined, won't deal with the traditional BTC miners at all.
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STOPthis is good news for gpu miners,may be mining is easy after this fork
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