This year, the crypts broke into a bag. We can also see a number of newly created ICO’s. Bitcoin is undoubtedly the most powerful, most famous cryptocurrency. It’s the cryptocurrency who started the madness around cryptocurrency. On August 1st of this year, we were able to register Bitcoin hard fork for the Bitcoin Cash cryptocurrency. Many people did not understand what it is or what it will benefit when Bitcoin splits. Some people think the same, because Bitcoin’s next hard bit for Bit Dollar BitTorrent Gold (BTG) is coming.
What is Bitcoin Gold?
Bitcoin Gold is the new cryptocurrency that Jack Liao created with his team and decided to create it through the Bitcoin hardcore. Their goal is to get Bitcoin Gold to a same level like Bitcoin. They want to get back to the people and not to big companies or massive farms. This is reason, why Bitcoin Gold begins to call the crypt of the people.
When will the Bitcoin hard fork take place?
According to the official site where the deduction is running, the official date is 25 October 2017. However, this does not mean that this cryptocurrency will be launched on that day. It only means Bitcoin blockchain will be “frozen” for the Bitcoin Gold blockchain. They are currently planning to officially launch this cryptocurrency in early November. This means that blockchains will not have blocks created more than a week.
What does that mean to you?
Bitcoin Gold applies to you if you move your Bitcoin to one of your wallets by October 25th. The number of coins you get for Bitcoin Gold for free is 1: 1. If you own 1 Bitcoin, you’ll get 1 Bitcoin Gold. It is highly probable that if you want Bitcoin Gold to get you, you will need to keep Bitcoin in your wallets. Stock exchanges will support this option if one piece of BTG will cost at least 0.01 BTC. However, it is better to check your keys in your wallets.
What are their other interests?
Their concern is to save Bitcoin in the case of bad future. They also want to compete with other GPUs (Graphic Processing Units) cryptocurrencies such as Zcash, Ethereum or Monero. They do not want to compete with the Bitcoin and Bitcoin Cash
What does Bitcoin Gold (BTG) offer?
– based on Equihash, will be available for GPU mining
– it will have “playback protection,” because it’s Bitcoin’s direct fork
– will have a variable amount of difficulty that will change to each block (good management for miners)
In addition, BTG will not have any other changes, for example, block size adjustment. BTG will be followed by Bitcoin founders because it’s the best way.
How to Get Bitcoin Gold?
If you want to get access to your BTG coins, you should have your private keys from your wallets and keep them well. You will also need to do:
– Avoid first day transactions.
– Keep your private keys with you, avoid third parties like Coinbase.
– Use wallet hardware such as Ledger Nano S or Safe.
– If you do not have wallets hardware, try wallet software like Mycelium, Jaxx, or Coinomi, and use Exodus to check your private keys.
– If you hold your keys in a so-called paper wallet or wallet software, please wait for instructions on how to get Bitcoin Gold.
Future of BTG and conclusion
The future of this cryptocurrency is still unclear, but when the hard fork occurs, the BTG will definitely have stock market value and attention, especially due to GPU mining. If you are a “holder”, you have nothing to worry about. You get coins for free and therefore money. Of course, it matters how many Bitcoin pieces you own. However, if you have developed and own a stock or wallet, that’s another story. You can also watch them on their Twitters. We wish a lot of success.