BITCOIN GOLD LAUNCH DATE IS Nov 12th 2017
Bkc New York Team Update Nov 11, 2017
What is the purpose of Bitcoin Gold?
The purpose of Bitcoin Gold is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole.
By changing Bitcoin’s proof-of-work algorithm from SHA256 to Equihash, all of the specialized SHA256 mining equipment will be obsolete for mining the Bitcoin Gold blockchain.
Bitcoin Gold will provide an opportunity for countless new people around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations.
A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi’s original vision.
According to BKC Executive Director Canada- Today is a Day to Remember, because we provided the Knowledge and strategy to acquire Bitcoin Gold to the USA/canada members. We are expanding this knowledge into India.
Contact – Bkc Bitcoin Gold – Register Now
Main Differences – Bitcoin Gold – Bitcoin Cash – Bitcoin
There has been a fair amount of debate and speculation on Bitcoin Gold over the past few weeks. What was originally designed to be a Bitcoin hard fork eventually turned into a completely different altcoin which only barely resembles Bitcoin in certain respects. The thing most Bitcoin holders care about is obtaining their free Bitcoin Gold in the coming days, as the BTG developers snapshotted the Bitcoin blockchain to conduct their airdrop sometime in the future.
BITCOIN GOLD
While it remains to be seen how many people still care about Bitcoin Gold right now, no one will decline an airdrop of free coins by any means. The actual value of BTG tokens has yet to be determined, but with the launch having been pushed back by nearly two weeks, the project has lost a lot of its initial appeal. Even back then, the general response to this “fork” was pretty lackluster at best. Alas, it is doubtful much has changed in this regard.
The Equihash proof-of-work change has been finalized and should be capable of handling a public stress test at launch. The number of miners directing some of their mining hardware to Bitcoin Gold may not necessarily be all that large, though. Until it is known whether or not BTG is even remotely profitable to mine, no one should expect any major interest in this altcoin off the bat.
More importantly, it seems the Bitcoin Gold developers have finally succeeded in adding proper replay protection to their clone. It is important to have such security in place. Without it, Bitcoin users would theoretically be able to send funds to the BTG blockchain and vice versa.
This would result in lost funds, which is never fun to deal with. Bitcoin Gold will use the same address code base as Bitcoin itself, which makes full replay protection a mandatory part of its source code. There has been some controversy over this development as well, but it seems everything has been ironed out as of now.
Additionally, the developers made some last-minute changes to the BTG mining difficulty algorithm. Considering that this difficulty will change from block to block, it is of the utmost importance that it be adjusted to dynamic hashing power increases and decreases. That is much easier said than done, for obvious reasons. Once the network goes live, the whole world will be able to see if these efforts have paid off. We don’t want another algorithm that can be “tricked” into making a currency more profitable, as we have seen how that has impacted Bitcoin Cash in the past.
There is still a fair bit of work to do for the Bitcoin Gold team, though. First of all, there is no real appeal to this altcoin as it offers nothing innovative or unique. Nor can it be used to pay for goods and services in its current stage. The list of exchanges and wallets supporting Bitcoin Gold is also very limited, mainly because the launch of this network was delayed. An interesting future awaits BTG; that much no one can deny.
Some of BKC members are Actively Holding Bitcoin Gold at the time of this historic launch.
Blockchain Knowledge Centre HUB 