There is a website with a message saying October 25 is the kickoff date for an entity called Bitcoin Gold. But would it have anything in common with Bitcoin except for the name?
Bitcoin Gold is also known as Bitcoin GPU- and it means exactly what it says, it would use graphic cards instead of ASIC to mine the new blockchain. And there is another significant difference- instead of SHA-256, the new blockchain will use the Equihash algorithm, taken from ZCash. The ICO for the new coin/blockchain was canceled, but there are expectations that the new blockchain would come with a pre-mine with low difficulty starting October 1st.
The creators of Bitcoin Gold do not describe themselves as a rebellious group of miners splitting off, in contrast to the Bitcoin Cash community. Their choice of words is that they are implementing the Bitcoin core idea on different hardware, to curb the unfair gains in the ASIC marketplace.
“We would not describe the Bitcoin Gold project as any sort of rebellion. In contrast to the hostile origins of Bitcoin Cash, Bitcoin Gold was not created with any motivation to “fire” the Core developers or split the Bitcoin community. We understand that the Bitcoin Core team is the leading source of security and innovation in the blockchain world, and we intend to support their outstanding work in a variety of ways. We do not claim that Bitcoin Gold is an “improved” protocol over Bitcoin. We would rather describe it as an implementation of the Bitcoin protocol on different mining hardware, with the same transaction history and coin distribution as Bitcoin.”
In fact, the Bitcoin Gold team believes their hard fork is friendly to Bitcoin, and it will not be stealing hashing power from the old blockchain. In truth, Bitcoin Cash is drawing in miners as sometimes the blockchain is significantly more profitable to mine.
Read more here : https://cryptovest.com/education/not-all-that-glitters-is-bitcoin-what-is-really-bitcoin-gold/
YT explaination by Scrembo Poul : https://www.youtube.com/channel/UCFRLkad3FXOJ5pyziEgDSTg/videos
Another insight of Bitcoin’s Video : https://www.youtube.com/watch?v=n9gAA_jcKFU&t=125s
Related articles and references:
Coindesk https://www.coindesk.com/first-cash-n… https://news.bitcoin.com/another-bitc… Bitcoin Gold official website: http://btcgpu.org/ https://www.coinspeaker.com/2017/09/2… https://bitcoinexchangeguide.com/bitc…
#bitcoin #hardfork #segwit2x #Bitcoingold #Gold #BitcoinHardfork #ethereum
bitcoin hard fork , bitcoin , ethereum , hard fork ethereum , btc hard fork , bitcoin cash hard fork , bitcoin price , bitcoin hard fork 2017 , eth hard fork , what is a hard fork , metropolis hard fork , monero hard fork , bitcoin news , soft fork vs hard fork , hard fork meaning
, ethereum hard fork date , bitcoin hard fork countdown , what is a hard fork bitcoin , hard times four mile fork , que es un hard fork ,
bitcoin cash hard fork , bitcoin hard fork 2017 , metropolis hard fork , monero hard fork , que es un hard fork , bitcoin hard fork , bitcoin price , bitcoin news , btc hard fork , hard fork meaning , bitcoin hard fork countdown , ethereum hard fork date , what is a hard fork bitcoin , bitcoin gold hard fork , bitcoin value over time , bitcoin price forecast 2017 , bitcoin vs gold chart , buy gold with bitcoin , bitcoin 5 year price chart , how do you buy bitcoins , segwit activation , segwit ltc , segwit bitcoin gold , segwit adoption
, segwit 2x , bitcoin segwit activation , bitcoin unlimited , bitcoin gpu , segwit status , bitcoin cash , bitcoin gold , poloniex , litecoin
what is segwit , bitcoin price , gold price , price of gold , price of bitcoin , bitcoin usd , bitcoin chart , bitcoin value , bitcoin vs gold ,
bitcoin to usd , gold price chart , ethereum price , ethereum , how to invest in bitcoin , bitcoin kurs , bitcoin vs gold , gold price chart
gold price per ounce , price of bitcoin , coinbase , bitcoin news
price of gold , bitcoin chart , how to buy bitcoin , gold spot price ,
bitcoin price , gold price , gold price , gold coast , rose gold , gold rate , black gold , white gold , today gold rate , gold fidget spinner
, gold cup 2017 , concacaf gold cup 2017 , huda beauty rose gold palette , concacaf gold cup , gold cup schedule , tinder gold , iphone 7 plus rose gold , cyrus gold , gold cup final , rose gold iphone 7 , tom gold run