Bitcoin Gold???
Another Bitcoin Hard Fork Is on the Way?
A small group of miners and developers are planning to carry out a fork on the bitcoin blockchain to to a new crypto much like bitcoin cash, namely bitcoin gold. The idea of the project is to release an improved protocol, that will compete or better the bitcoin cash protocol. The initiative is led by the CEO of Hong Kong mining firm LightningASIC, and is launching October 25th with hopes of exchange adoption by November 1st. Here's a link to the bitcoin gold page, but not much information there as of yet.
"All that is gold does not glitter, not all those who wander are lost; the old that is strong does not wither, deep roots are not reached by the frost." - J. R. R. Tolkien
Check the video below for a more expert speculative analysis of this bitcoin fork.
One of the big factors for this fork is the mining, the developers behind the network hope to open up mining to more participants by replacing bitcoin's mining algorithm with one that will enable it to be mined with graphics cards. The idea is to make big miners on the network less relevant and open it up to everyone.
There are still a multitude of unknowns when it comes to bitcoin gold, even project leaders admit many of the details around the hard fork are unclear. The current climate in China regarding the future of crypto exchanges and mining should also be a huge factor. Another question a lot of us will be asking is will the exchanges follow suit as with bitcoin cash and duplicate any bitcoin held in exchanges to bitcoin gold, free money again?
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Free money coming soon?
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So they're still not clear yet whether or not the bitcoin gold will be duplicated from your holdings in bitcoin? do you think they'll announce this before the fork?
Yeah there not much info regarding that, I'd pop my btc into the exchange, just incase they do!
The question is are they killing the golden goose (pun not really intended but fits).
Bitcoin has the chance to be the backbone of the crypto world yet all these forks and altcoin bitcoins might well confuse people. We already saw the issues many had sending their BCH to BTC accounts.
I'm with you on this, many people who are not as clued up with crypto tend to steer clear exactly because there are just too many.
Thanks for sharing :-) I am following. Please follow me
I missed the last time they gave away free money, hope they do it again!
Heheh! I think this is what everyone thinks will happen, so I'm pretty sure it won't 😂
Me too, not sure it will have the instant growth explosion bitcoin cash had?