Bitcoin Gold: Definition, Creation History and Predictions for 2018

bitcoin gold

Pretty much any news of the world feature the well-known cryptocurrency, Bitcoin. The main attention of the participants of the cryptocurrency industry is concentrated on the world’s #1 cryptocurrency. It’s time to talk about its analog Bitcoin Gold, formed as a result of another doing.

Contents:

  1. What is Bitcoin Gold?
  2. Bitcoin Hard Fork History
  3. Prospects and predictions
  4. Comparison of Bitcoin Gold and Bitcoin Cash
  5. Conclusion

1. What is Bitcoin Gold?

Bitcoin Gold (BTG) is a decentralized-type cryptocurrency based on the blockchain technology technology, founded by the former supplier of mining equipment, Jack Liao. The digital currency is the result of a conflict situation between the miner Jihan Wu and Jack.

 2. Bitcoin Hard Fork History

Hard fork of Bitcoin was the only solution to the conflict. Many people were surprised by this news, because two months before the announcement the world saw another result of Bitcoin’s division – Bitcoin Cash. However, Jack Liao was not at all embarrassed by this fact, as he clearly followed the goal he set in order to return Bitcoin with the new status of “absolutely decentralized cryptocurrency”.

Today you can get Bitcoin using only costly mining equipment ASIC. High prime cost reduces the attractiveness of Bitcoin mining for ordinary miners, but world giants who build and own large mining farms have the opportunity to control the world’s #1 cryptocurrency. The difference from Bitcoin is that Bitcoin Gold can be mined using simple mining equipment, which made cryptocurrency more decentralized. This is justified by the number of miners who earn cryptocurrency using video cards, which are larger than those that work with ASIC miners.

3. Prospects and predictions

Experts can not give an unambiguous forecast regarding Bitcoin Gold. The second hard fork of this digital currency was misleading, as many people consider the update pointless. The opinion of analysts and investors is significantly different. They are sure that Bitcoin Gold is the best cryptocurrency for investments. The matter is that after the launch, the currency formed a large-scale “hype” around itself, which was the reason for the rapid growth of its exchange rate.

As for Bitcoin Gold’s position, it is not the most positive against the background of the market fall. At the moment, you can buy currency at the minimum cost – $ 43 at the time of writing, according to the portal CoinMarketCap. It is assumed that by the end of 2018 the cost will increase to $ 2 thousand per coin.

4. Comparison of Bitcoin Gold and Bitcoin Cash

Bitcoin Gold has a simplified procedure of processing and confirming transactions, rather than Bitcoin Cash. Bitcoin Gold can also be mined using ordinary expensive equipment, for example, video cards.

5. Conclusion

Despite the controversial predictions, Bitcoin Gold is an excellent cryptocurrency asset, but not in the status of the main one.

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