Bitcoin Forum

Hello,
what do you think about BitcoinGold economic? I see a lot of information about mining economic (The purpose of Bitcoin Gold is to make Bitcoin mining decentralized again) but that about real use cases for the simple users?

you are right...
bitcoin gold algo id equihash, exactly like ethereum...
So, everyone can participate to mining with GPU.
Doing so, bitcoingold will free all of us from the centralize mining power of few peoples!
If you already have an ETH mining rig, you can easily switch to bitcoingold mining.

Ethereum mining is based on Ethash algo. Equihash is the algo for Zec, Zen, Hush and so on.

ASIC resistant mining is the main selling point of Bitcoin Gold. But that can change. When ASIC makers see that it is profitable to make ASIC for mining using Equihash algorithm, they will start making them. Though they wont be as efficient as ASICs for SHA256 (Bitcoin's hash) if people are ready to buy, they will make them and dedicate resources to make them efficient. For the time being centralized-mining can be kept at bay.

ops.. you ar right my mistake!!!
thank you for the clarification.
i check right now and I remembered wrong!
Maybe ETH mining rig are not so good to mine with this algo... because are mostly AMD GPU...
I think for this algo is better a NVIDIA GPU.

The economic concept of Bitcoin Gold is viable enough. But the implementation raises many questions, for example pre-maine.

The developers of Bitcoin Gold, digital coin created after the fork in the Bitcoin Network on the last 25/10, released a statement on 1º of November that informs about a full protection of an implementation against the repeat attack of the network. The solution used by the developers team of the new coin is SIGHASH_FORK_ID REPLAY PROTECTION. It´s based on a effective protection mechanism against of a repetition attack on 2 ways, that uses a new algoritmo to calculate the hash of a transaction, in a way that all the transactions of Bitcoin, on the Bitcoin Gold Blockchain are invalid. That mechanism makes the repetition of operations impossible.

sometimes mining is all that an altcoin needs as far as usage goes and that will be bitcoin gold's economical aspect that you are looking for. there have been many of these coins already. the coins that were only good because they were easy to mine.
in fact one of the reasons why ethereum was so popular was mining, that is because bitcoin gold is using the same equihash for mining as ethereum does.

It will be more interesting to watch BTG price in coming days, as the effect of liquidity over exchange. There are several scenarios where it can take directions...

Bullish on BTG
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1-> As many Bitcoin's are in cold storage, assuming @50% of current circulation  1,67,06,312 BTC i.e 8353156 BTG is the possible liquidity as BTC holders might fear of SCAM while claiming or possible leaving as it is for future in support of BTG's Future. It may not come to markets for decades!! as it sits in cold storage along with BTC.

2-> Adding on top of already 50% off liquidity, even if contrary to above there will be new Investor;s as holders to the extent of off load by BTC holder to fail BTG (But would like to sell only in top of the price  ::))of BTG supporting decentralization of mining and cheap transactional fee as ability of BTG.

3-> It we want buy cheap BTG below $200, it is possible, if more and more miners or investors hold onto BTG for atleast a month not selling single BTG anywhere could see price of $450-$500 which would tempt few BTC holders to claim and dump. Prices will go down.. Buy them as much as you want it!! Can be repeated until all BTG comes out of cold storage, so that we have real economic future for BTG, rather giving in the hands os BTC holders ~60% advantage of been forked from BTC.

Not so Bullish on BTG
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1-> Mining is currently unprofitable compared to BTC;s price rise percentage. Transaction cost is ultra low, new coins generation is the only hope, (unknown technical issue, what will drive transaction cost up when halving takes place in BTG? who will decide to include or exclude transactions on fee /kB basis?)    

2-> Lack of security to coins storage, either Wallets or non-availability of cold storage option like Armory or Electrum kind!! (Need at-most as first!!) No option but to dump on exchange till option available.

3-> Many fork game on after ICO game, will spoil BTG credibility in market as there will not be Unique Selling Proposition!! with other's unless Developer of BTG fulfills quickly one after the other of there Road Map.

4-> If they BTG has to compete with BTC, some one has to do all same as BTC done with respect BlockChain Information (like https://blockchain.info (https://blockchain.info) with level of information depth), Blocks, Pool, Transactions and Fee per kB tracer's. They managed with https://btgexp.com (https://btgexp.com)

https://www.coindesk.com/short-lived-shine-bitcoin-gold-could-revisit-sub-300-levels/ (https://www.coindesk.com/short-lived-shine-bitcoin-gold-could-revisit-sub-300-levels/)

I"ve bought some BTG recently at high price ( 390$ ) .
Now it's down to 330-340$ and it's getting lower every day.

What would you advice for me ? waiting end of december ?
Do you think a pump is soon coming?

Hold on to your BTG, as BTC cool's off from physiological level BTG rally will happen as profit booking takes place in BTC, already people are selling BTC slowly selling futures and going for Christmas. 

From the link you posted , it says that i ll go down to 250$ or less and that's what happening unfortunately.

Do you think there will be a rise in the coming days?

there is no real economics for bitcoin gold. the only reason why it was created was to have a premine and in order to make the devs rich when they dump it. it is more like a get rich quick thing.

they are not making "bitcoin mining" decentralized, they are creating a new altcoin that can be mined with GPUs. and that is very different!

all that said, there is a difference between being a useful cryptocurrency and being some pump and dump altcoin that miners mine. i believe it can become a popular mining coin but more than that i don't see any other adoption for it.

Technically from Trading point of view, the article is right, it will go down but can't guess how much ultimately it has to go up!!! BTG is new BTC.. check this post..

https://bitcointalk.org/index.php?topic=2171754.0 (https://bitcointalk.org/index.php?topic=2171754.0)

You need to wait as the bitcoin get over 10 000$ and then try to reset their purchase price.

BitcoinGold has a great potential for growth,hope the team will tends to develop the platform in order to increase the development.

It already went above 10k on some trading sites , price doesnt seem to dump yet.
What do you mean by reset their purchase price? selling my BTG at this moment?

I don't think some people still understand mining economics, the reason BTC has most hash power is because of its network effect, it is still the most trusted network, so why do I need to go and throw capital into BTCGold or BCash, the game is about the long term prospect of the coin you are mining

yes i agree wth you mate but in that scenario do think the miners switch into bitcoin gold than to stay ethereum look at now ethereum have also an expensive value than btg. sorry mate is only my opinion.