Bitcoin Gold (Bitcoin Gold) - what to expect from the new fork of the main coin?

Not so long ago, the blockchain space was stirred up by a loud event - the main cryptocurrency had a younger twin brother named Bitcoin Cash. We did not have time to recover from the fact that there are now two bitcoins, when another news thundered throughout the investment world - the third cue ball will soon appear. What is Bitcoin Gold, how to get this coin and whether it will be worth something - we will consider all relevant questions in this article.

Bitcoin Gold - what is it?

The great genius Satoshi Nakamoto has developed a crypto currency in such a way that anyone can create his own coin. But for some reason creating new coins developers are tired - there are thousands of them, and it's not so easy to attract attention to themselves - that's why recently everyone wants to make money on the loud name of the main crypto currency. Precisely, pursuing material interest, the creators of coins are trying to create forks of bitcoin, in the hope of gaining at least some fame and money. And although there were many such attempts, but for some reason until recently they did not go beyond the conversation. With the advent of Bitcoin Cash, the situation has changed radically, and, as they say, a bad example is contagious. And again, the fork is planned, the crypto community in suspense expects the day X, and someone already mentally calculates the income.

A new bitcoin variation called Bitcoin Gold will be released 25 October. According to the developers, the need to create such a coin matured in the bitcoin community for a long time, because the main crypto currency has completely lost its decentralization. This is in fact so, since the mining of crypto-currency has completely passed into the hands of large companies, while small miners from this industry have long been supplanted by the asik-miners. And although this situation completely contradicts the postulates of Satoshi Nakamoto, who created independent money for the poor, but nothing can be done about it.

Bitcoin Gold developers have a different view of this situation and do not intend to put up with the seizure of power in the bitcoin community. Their proposal is a new option Bitcoin, which can be extracted only on video cards. Such a coin will have immunity from the production of ashikami, thanks to the algorithm of Equihash (on which Montero, Zcash, etc.) already run. That's actually all that offers us a new crypto currency.

Bitcoin Gold: coin mining

Otherwise, Bitcoin Gold is a complete copy of the classic bitcoin with the final digit of generation 21 million, with the same block size and the period of its creation in 10 minutes. And although there is no fundamental difference between the coin and its fork, the developers insist that another algorithm of mining will allow Bitcoin Gold to become a fully decentralized crypto currency, which will be able to win over a large number of investors.

Already today, there are talks that the mining of Bitcoin Gold will be handled by the miners who previously mined the Etherium. After the algorithm of the last one changes, the miners will have nothing to do but look for a new promising coin that can be generated on video cards. But most of all will be won not by the miners and not by the developers of the new fork, but by the manufacturers of video processors. It is hard to imagine how much the video card will cost from the headliner of the Nvidia market, if this year the starting price of the new development of the company has become higher than the previous issues in a third. Specialists note that during the 2017 year, even the company's shares on the stock exchange increased by 85%!

Based on this, it is possible with great doubt to regard the fact that Bitcoin Gold mining will be democratic - again, those who have the means to do so will be able to afford mining. And therefore the moment of vaunted decentralization is very controversial - what prevents large companies from equipping hangars as farms from video cards, and not ASICs?

Stock exchanges supporting Bitcoin Gold

Reproduction of bitcoin for forks met resistance among many users, against such lawlessness and most of them crypto-exchange exchanges. Some of the sites openly stated that they do not want Bitcoin Gold on their list of coins, while others prefer to keep quiet about it at all.

It is well known that with 1 November, the Crypto currency will be added to:

• Yobit;
• HitBTC;
• BitStar.

Experts also argue that this attitude to the coin can be temporary. If the organizers of exchanges and purses see the demand for Bitcoin Gold, a serious increase in its rate, it is to be expected that most of the large sites will still add the coin to their listing.

Bitcoin Gold: how much will Bitcoin Gold cost?

Regarding the price of a new coin, opinions are also divided. There are both extremely negative versions, according to which Bitcoin Gold will not cost anything, and more positive predictions that one should expect a similar situation to that which happened with Bitcoin Cash. It is expected that the cost of the new fork can reach several hundred, and even thousands of dollars apiece, but this is only an assumption. In any case, the fate of the coin will be determined by two factors:

• Interest in coin miners - if the miners are not too interested in Bitcoin Gold, then there is no need to actively increase the cost. On the other hand, if the rate of the crypto currency is low, then it will be unprofitable to mine. A vicious circle is obtained.
• Investors' actions - if the coin is distributed free of charge, like Bitcoin Cash, one should expect its active discharge, which means that the crypt rate will drop. And if behind the recent fork are rich patrons who initially artificially backed the course with their money, then in the case of Bitcoin Gold, it probably should not be expected.

How to get Bitcoin Gold?

Prior to the fork, there is not much time left, but it is still unknown whether to give coins for free. Logically, it is very likely that the distribution is still worth waiting for. Experts cite Bitcoin Cash as an example and say that in the case of the new fork everything will be according to the old scheme. If the free distribution is still there, then coins will be given to users under the following conditions:

• At the time of the fork, that is 25 October, you should not conduct operations with bitcoins. It is better not to touch them at all in the coming days before and after the birth of the crypto currency.
• Keep coins on purses that provide the ability to store private keys. This electrum, bitcoin cor, etc. It is not worth keeping funds on the exchange, since not every administration wants to give you gold coins, at best you will spend a long time waiting.
• Further scheme of obtaining coins you can find from the article about crypto currency Bitcoin Cache on the portal Profit-Hunters.biz.

More recently, other information about the appearance of Bitcoin Gold has appeared on the network. There is a version that the Chinese miners, who actually started the production of a new fork, are already mining the coin at full speed! The original source claims that such hidden mining will take place until October 25, resulting in the first 16 blocks being generated. Allegedly, there is even evidence of such actions by miners, but we do not undertake to confirm such information or deny. Let us leave such investigations to experts, or just wait, what will happen in a few days.

What is waiting for Bitcoin Gold in the future?

Despite a bunch of contradictory nuances, for the future Bitcoin Gold there are many positive predictions. The main reason to believe that the coin will really be of interest is that it will be easy to mine, and many will be able to afford it. If, in the case of Bitcoin Cash, the coin is extracted according to a similar algorithm with bitcoin, then the situation is quite different with the gold. Again, do not deny that fork really created favorable conditions - Efirium's miners will soon remain unemployed and, very likely, that they switch to Bitcoin Gold mining.

But to say definitely whether Bitcoin Gold will be interesting to the crypto community is not yet possible. In any case, there is a lot of talk about it, and the market has already reacted to the novelty by actively growing the bitcoin rate. Investors who expect a free distribution, actively buy up the main coin and it, in turn, beats records of value. It is expected that at the time of the fork or after it, the bitcoin price will experience a correction, and after the event when everyone actively starts to drain free coins and buy the main crypt, the new historical maximums of the cue ball are expected.