Bitcoin Forum

by now you have probably heard about the new controversial fork of bitcoin called Bitcoin Gold or Bitcoin GPU.

i have speculated about this coin's price a couple of times in different places, i thought to make a new topic and share my thoughts here.
this is mostly a long term speculation.

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coins that are mineable usually become the favorite of the community pretty fast. when mining them becomes profitable, they become even bigger favorites, and when they get pumped people can't shut up about them!

i believe one of the main reasons for popularity of ETH was mining of it. there is a huge community of miners with a lot of money invested in mining rigs (GPUs) who have been supporting and advertising ETH so far.
with the hard fork (first step on October 16 reduction of block rewards from 5 to 3), this is going to stop.

all this hashrate needs to go somewhere. where else better than something with bitcoin name in it.

with that said my speculation is that if miners really migrate to BTG chain and start mining it, advertising, hyping and pumping it, this coin can gain some fast popularity out of nowhere and even replace ETH in the bags of investors. essentially gaining the same price even!

there are two big issues though. and that is the premined coins that goes to the developer. but by comparison ETH also had the same kind of premine (even bigger).
the other is the airdrop. BTG is practically giving away 16,617,000+ coins although this will create a short term dump and as i said i am aiming more for the long term speculation

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so where do you see BTG price in long term?
can it reach $300-$500 in a couple of months after release?

Maybe bitcoin gold price will below $100 , can't expect second miracle as BCC

I don't think Bitcoin Gold has a lot of potential. It will be like any other altcoin, with the only difference that it will be distributed freely to Bitcoin holders. Just another airdrop altcoin, without any significant advantage over the others.

after bitcoin gold release later i predict its price could be $500 or even more, but after few months i think bitcoin gold will be big dump and in future i am sure bitcoin gold price is only $300 or even cheaper.
whether there will be another fork after this? bitcoin silver, bitcoin bronze or bitcoin credit :D

I'm a newbie, so trying to understand the whole concept on the whole (and forking).

Bitcoin Gold is said to be ASIC resistant and uses Scrypt allowing general public to mine using their existing GPU mining setup. If more people start to mine and the demand increases because its easy over ASIC, wont the price increase ?

Edit: can anyone tell what would be the initial price ? 1-to-1 of BTC ?

I didn't know that. So we already have Scrypt asics I've had mine for 3 years.. I guess maybe if this is profitable I will mine this instead of LTC.

I predict a price of $20.00 each.  :P

IMO I think BGold will have a flash dump from all the BTC forkers getting essentially free money. However, once the miners get on board, BGold can maintain a solid price and gain in popularity.

There is a lot of FUD going on about BGold, so right out of the gate will be the dump. I would short it at first, then buy in after the dump.

Personally, I will prepare for the fork and get my little chunk of BGold, flash sell with all the other dumpers, and then buy back in at cheap price.

This coin is traders vs miners, the traders will win short, but the miners will win long.

do you guys even understand what is it ?
no matter what is it,we can not forget that it's created based on Bitcoin.
which mean the price should be high.
other than that,i heard BTG aka Bitcoin Gold team declared it will support Bitcoin and grow with it.
unlike BCH and ETH,it's specialized to help and improve Bitcoin itself.
which mean BTG price will increase along with Bitcoin.
so i believe it will be high but not really high,
comparable to ETH and other top crypto.
but below BCH

It is a free market, but I wish there was some kind of punishment when it comes to introducing shady coins. The abuse of the "Bitcoin" name should be forbidden.
https://www.reddit.com/r/CryptoCurrency/comments/757jf4/here_is_why_bitcoingold_is_shady_and_a_scam_you/
I hope its value drops below zero

Absolutely, I don't have the reference link, but I believe somewhere it was mentioned that BitCoin Gold would be used for testing all upcoming BitCoin related changes. More like a testing platform for BTC itself. Will try to find the details from my history

I don't think btc gold with get much attention. In my opinion it is a completly unnecessary project only designed to make certain people money. It is really just a scam.

The price will probably follow the same line as bcash. Way overvalued the first hours when the available supply on the exchanges are limited, followed by dumps. But without any signifcant pumps like we saw with bcash. And the price will slide from probably $2-300 to around $50 on 01.01.2018.

Its suppose to use Equihash - Ref: https://bravenewcoin.com/news/bitcoin-gold-a-friendly-dividend-fork-or-bitcoins-disaster-recovery-plan/

I really don’t expect much to become of Bitcoin-Gold. I have a feeling that we are going to be seeing a whole bunch of forks just because people want to create billion dollar market caps overnight, but if developers keep creating forks at this rate it will lose it’s ability make a valuable coin rapidly.

Bitcoin Gold will be a pump and dump coin I'm pretty sure about that.  At peak may reach $500 then drops under  $100. These folked coins are fading away slowly. All these folks are the game of whales. :(

Don't think much of it, regarding the mining there are enouth other good minable coins with a bright future...

Response to the recent missinformation, from their Twitter page.

http://btcgpu.org/btgdev-response.pdf

It remains to wait to know what will happen to the bitcoin. :-\

We dont know what the price of bitcoin gold after segwit or fork . But for me i think the possible price is only 100 dollars or maybe ut lower and we dont see the price when it relase in the market. Bitcoincash is 200 dollars when relase in the market. But for sure those people have a lot of bitcoin they can get a lot of bitcoin gold for sure. And they earn some profit if bitcoin gold release.

I think same scenario as to what happen in bitcoin cash. Actually its really hard to speculate the price of bitcoin gold what would be its actual value. But well for me, maybe it will not reach fast more than $300 it will reach possible more than $400-500 after a few months it will release.

this will be worse than bch I guess. they dont have roger ver.

Sure it could but I dont think it will amount to anything real. I think the value will start around $50 dollars and then from there proceed to pump or dump. Bitcoin Gold seems like it will be in the $50-100 range when it opens,

but I could be very off.

i don't like the sound of this btg. Alot of people are gonna get screwed over just when bcc came out. After the dust settles , btc will find a correction.

thanks for the link but that just raised more concerns for me!

1. they say they only had 1 core developer and added another recently. this change they are doing is so huge that it shouldn't really be only 1 unknown person working on it.

2. the fork seems rushed. they even claim that PoW change is not yet completely finished. such hard forks need a lot of extensive testing.

3. the difficulty changes, same issue as 2!

4. there is still the biggest issue of the Premined coins!

i still don't change anything about my speculation in OP though.

People I know want to get free bitcoin cash just to sell it and make profit. I wonder who will buy all these coins...

Ethereum has smart contracts, BGold does not. This makes ethereum 10x more popular among businesses because they can create contracts.

For now I have no any idea regarding bitcoin gold, but I think it is one of the altcoins that makes threatening to bitcoin value. However I know bitcoin developers not agree with that so I think they were continue improve it to be more attractive to all peoples who believes and trust in bitcoin. Hoping that more investors are join to this project to be more successful.

After conduct several thread and question regarding the future of Bitcoin , BitcoinGold

There are most people who actually waiting to get snapshot for BTC:BTG and they are ready to dump BTG

There should always be one bitcoin, Either replace, or remove :P

If I get a 1% boost in the amount of coins I own, I would be very happy. I think futures are trading at .04-.05 I dont expect that to last at all.

With all the hype around it and everyone exiting alts for BTC just to get some gold.. well I think its gonna flop compared to cash.

no big miners support btg.

i think it will be a shit coin. i will sell immediately my btgs after they give me.

that's one of its few selling points. big miners have raped bitcoin and everything it stands for. it should never have gotten as bad as it is.

The answer is: probably nobody.

And on top of that there will be a lot of people trying to mine BTG with GPUs (or at least that’s what I expect seeing that’s one of the biggest selling points) and if the only people who use it are miners then everybody would be constantly dumping it, creating a spiral downward.

I'm not sure what the point of bitcoingold is.

Bitcoincash had the 8mg blocks without segwit (so satoshi's old code with added blocksize).

Bitcoin has segwit

Segwit2x will have segwit with bigger blocks

What's the point of bitcongold?

lol, Don't angry man, I think that devs are trying to make everything better. Releasing many different coins provides multiple choices for investor. :D

if you need to make a comparison with the previous fork coin . I now estimate that the value of the fork coin will be on average 500-600 dollars.  perhaps even a more valuable coin can emerge. because the price of the bitcoin in the previous term and hype was not that high. Nowadays, there are giants in business. and now I think the new coin value that will really emerge is higher than before. I do not know if it can cost nearly $ 6,000 to get $ 600-700. what do you do if the new coin with the bitcoin quickly lose value after the fork?

For what people will buy if this scam? I don't understand. If currency shit why we buy and sell this? But airdrop is good because give us more free many from novices. It's sadly

There will be a few "victims" but I am thinking BTG will launch very weakly if not DOA.

Bitcoin gold in a long run will have the same behavior with bitcoin Cash and I don't expect it to increase in price more than bitcoin Cash on the long run. Bitcoin gold will get pump on the days of splitting and get dump maybe three days after. We can actually see the reaction of traders today when yobit listed bitcoin gold on their trading platforms.  For those that are looking to get free coins after the splitting of bitcoin gold from bitcoin core should fund they yobit account with coins and get free bitcoin gold coins.  Another thing that will control bitcoin gold price is the way bitcoin core has remained the gold standard to others coins and a channel of converting coins to fiat.

https://www.reddit.com/r/BitcoinMarkets/comments/785aqe/daily_discussion_monday_october_23_2017/dosannj/

the fork has already happened, the snap shot happens soon, yet there still won't be an actual network.

they're really setting the bar low for forking professionalism. they could've done a good job of it but obviously can't be bothered.

I think all will welcome it well not everyone wants to also risk to get their BTG, at least a lot of users move their funds go to the trading site of course I also do that by putting my BTC funds on hitbtc and wait for BTG I get there https://blog.hitbtc.com/hitbtc-announcement-on-bitcoingold-and-segwit2x/
I think the bitcoin price will also rise drastically on this day and get more BTG also in a trade with a good price of around $ 200 or $ 300

What i know bitcoin gold uaing different algorithm and every one who has bitcoin on their wallet will get bitcoin gold. It will be mined with gpu and i read somewhere there are 800k bitcoin gold secretly premined. Bitcoin gold not like bitcoincash. It is pure alt coin. So i think the price is not more then $10

I was in the understanding that BTG would be credited at nov 1. However I see it traded in quite a few places already; did some exchanges/wallets already credit BTG?

Apparently you can already trade on some Exchanges. I think on YoBit you can already trade BTG. The price will surely drop more on November. A little like Bitcoin Cash.

$10? Not fair enough. You are basing the price because of the 800k premined bitcoin gold coins? Pre-mining is not that bad, remember that ethereum itself was premined too. Every coins out there needs a good developer/developers that will maintain the project. (Coin with no developers = dead = eg. DOGE) The bitcoin golds price should be better than bitcoin cash price because for real the 8mb block size right now has really nothing special with it.

if you have any of bitcoin in yobit then you can get free btg with the same amount of your btc you have and i see in yobit, btg is traded and have reaching the high price at 0.196 btc for 1 btg if i am not wrong. but i don't know how much the btg price now because i am not login into my account. i think the price is near with bitcoin cash and i think it is hard to back to increase although the possibility is always exist.

A lot of the community seems to disagree, and most coins that have a premine (other that a few of the older, more respected cryptos that did a premine/instamine like ETH and DASH) are valued less because of it.

practically now all whose who accumulate btg are dumping it so the price is getting low by the minute
but reading the speculation i kinda agree that it might gain in the future if miners gets interested

go gold go  ;D

BTG will become nothing but another shitcoin after doctor 25th. So many forks already on bitcoin

I can confirm this. In fact I have already sold my BTG on Yobit and I am expecting that BTG will just plummet once it hits the rest of the markets.

This is also my prediction for the next few months i think bitcoin gold will be cheaper that it's original price.

I am also looking forward for the upcoming bitcoin silver, bronze and bitcoin credit to get a free coin. ;D ;D

Price right now is a total mess:

https://coinmarketcap.com/currencies/bitcoin-gold/#markets

from $100 to $350. I can make another speculation - this Gold "coin" will not even run and will stay only as exchange futures.

Can be a no show. Who knows. Lets wait and see.

very soon now :)

pool.gold says it's running&mining fine:


Pool.gold‏ @pool_gold  15m15 minutes ago
More
http://pool.gold  testnet mining on : https://minepool.gold  @bitcoingold #bitcoingold #mining

https://twitter.com/pool_gold/status/925800044934172677

 :o

HitBTC's price is better than Bitfines now. But the problem, people didn't trust that much in BTG after BCC fail. I instantly sold my BTG coins after they are credited to my account.

In short run, it may be up to $300, but no more than this.

BCH failed? I don't think so. You should know that after this coming Segwit2x attempt to take over Bitcoin original, many miners attached with Jihan Wu will fully focused on BCH. If SW2x will be successful in kicking Core then I BCH will start to assume. Not really that fast but I see Jihan Wu and his miners have most power.

Interesting few days watching bitcoin hold birth. It is as if no-one wants it, the price debuted around $500 and ranked pretty hard to around $100. It was not a surprise to see the price tank, what was surprising was the speed at which it happened.

For now I have no any idea regarding bitcoin gold, but I think it is one of the altcoins that makes threatening to bitcoin value. However I know bitcoin developers not agree with that so I think they were continue improve it to be more attractive to all peoples who believes and trust in bitcoin. Hoping that more investors are join to this project to be more successful.

Wow,
I didnt expect BTG could jump up to more than 400 usd,
I still have my BTG,
I would sell it if necessary

Nice coin, I like it

I believe in bitcoingold will increase more in the future. I hope the price of bitcoin gold will increase like 1000 dollars each so we can make more profit. Bitcoincash the price is thousand dollars price and I think that happen also in bitcoingold.

After the chinese dump BCH, BTG will be next on their list.

I think mining BTG is not profitable now. BTG should be more than 300 USD to be profitable if you only have one graphic card. The price could be more than 500 USD i think.

why?

so far it's looked like nothing but an insult to cryptoland.

the scope might be there for a properly developed and launched gpu focused fork. this one ain't it.

premines and secret fee channelling are not going to endear it to most people.

true but none of it has ever stopped a coin from getting pumped. if it did, ethereum would have been worth $1 because of all the premine coins, bugs and million dollar hacks that keep happening to it.

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so far there has been some more funny bugs with the mining in the early day for the first blocks that were mine but they were fixed.

checking out the pools it seems like hashrate has stayed up and went up a little but i can't say for sure. i am waiting for bitinfocharts.com to start their bitcoin gold page and give a proper chart so i can see what is happening. i couldn't find any other source either.

see bitcoin gold has a chance to maybe overtake bitcoin cash in near future
and get that number two spot, I don't think anyone can steal Bitcoin's the original
thunder but number two might be plausible