Bitcoin Forum

Though after the fork , BTC Gold kept a steady line in price , and recently touched nearly $600 per coin, but it could not maintain that enough thrust to keep price stable .. finally headed to south .. was it simple a pump and novice investors lost money in this spike , or what's objective or BTC Gold when already we have BCH and BTC ( BCH got recent pump though ) ? will such more forked coins come and sustain themselves in this crypto world ? eventually is fork's objective is to give birth to a new coin ? or its part of politics to keep price high and product premium ?  ::)


thoughts pls .. 

Before stating if Bitcoin Gold is a success or a failure, we need to wait for the first reliable data about the computing power on the network. The bigger, the better.
Anyone here mining this coin perhaps?

whenever there is a coin like this which does a "free giveaway" to a lot of people there is always a lot of dumps. people sell what they get for free. even if some small number of then sell, the price comes down.

this happened in 2 steps for BTG. first was when the snapshot was taken and it was by exchanges. and second was recently when the mining started. and price dropped both times.

this doesn't mean it "failed". it just means you are not familiar with this market.


they claim it is to "decentralize mining" but the reality is that they wanted to make money that is why they premined the coin!

It's not yet even lasted for months but Bitcoin Gold already garnered negative feedbacks from the Bitcoin Community, only a fool will buy BTG when you know that they premined coins and they have this "hidden" developer , BTG is just for pump and dump scheme , the developers just want to earn. With the given reasons BTG will not gain the community's trust. Only a fool will do.

Not enough credibility or even reasons for it to exist beyond making a few early investors richer. Especially now BCash has taken the headlines I suspect many people have forgotten about Gold entirely.

it is too soon to talk about its failure but the biggest issue that i have found with bitcoin gold is its premine which is a very large amount of 200,000 BTG and i have seen others are not happy about it either. this is always a dishonest work by the developers to add a premine to their coins so that they can get paid by doing nothing.
so far the biggest issues such as replay protection was solves by third parties not the developers! and they still want to get paid!

Can someone explain me how they can premine a living blockchain ? They mine in secret from X month then release 1 BTC = 1 BTG for snapshot ? But the snapshot is at the public release of when they starting mining ?

Didn't they close the blockchain on their fork for a month whilst they did their own mining. They then opened the blockchain to external miners. Please correct me if I have misunderstood the situation.

The developers premined and dumped the coins after launch. They don't even care about the coin anymore. It's dead in the water, just dump whatever free BTG you claim.

Nowadays,it has become much easier to fork bitcoin and create a new clone of bitcoin,probably an altcoin instead of launching a new altcoin.BTG is termed earlier as an unauthorized project.But the truth is that they have well organized themselves to premine the coin more and then allow publicly for miners to mine it.They even say that they wish to create a true decentralized bitcoin as what satoshi dreamed.Such things may even follow in future.

This is how it is going in this cryptocurrency world. When the company distributed their coin. Many of those bounty people will dump earlier and that makes the coin lose its price. That is why many coins fall off short. Just like centra, most dumped coin.

There may be some obstacles in the development of code for Bitcoin Gold. And I'm sure Developer also needs time to adjust to FUD or bad news. Which could drop the price of Bitcoin Gold. Bitcoin Gold, Bitcoin Silver, many are waiting for both.

Bitcoin Gold failed because it was a crystal clear scam from the get go, and almost everyone instantly realized this. I'm surprised the coin is still worth more than $100 to be honest. Hopefully the market will fix this issue soon and let it sink ;)

Truly, i do agree we still can't say BTG success or failure as coins. BTG distributed when fork segwit as free coins to bitcoins holders. As per time, most people who received this coins selling all out their BTG to BTC or cash. Now, BTG was hold steady in price $600, i was surprise also this coins still exist in market. As i think, BTG only for alternative safe asset not use for transactional.
 

I have not received my Bitcoin gold yet. However, I do not like the presence of BTG and BCH. They do not make sense, whales rely on these two to steal money from investors

Bitcoin gold was already dead when its born. The reason bitcoin gold came cause cash came with great hype and people wanted to buy it to replace bitcoin etc. Gold is manipulation coin.

I'd say that miners are to blame. The original idea behind the BTG was to provide miners, who are currently involved in mining ETH with an alternative currency, which they would mine after the GHOST protocol is implemented. However, the supply outnumbered the demand and the price fell gradually as BTG is not used for each and every ICO, so there's no additional value created

At the point when BTG was touching the all time high of $600, it was due to the reason that a lot of people have not been able to claim their BTGs as those who were able to do, were only dealing in futures because they took the risk of leaving their BTCs on the exchange platforms during the time the fork occur. So, its normal that immediately the BTG was now made available, a lot of people then have the opportunity to dump which then drive the price downwards. The same thing happened in the case of BCH that went to a low ebb before picking up again in the last couple of days.

I think the main reason for failure is a basic lack of credibility. A lot of people saw it as a get rich quick scheme trying to jump on the early success of bch, plus there was the developers-only early mining period, plus fears such as lack of replay protection, plus inevitable early dumping... all adds to a drop in price.

BTG should never have been successful, so why did it fail?
I think the price increase of BTG is a result of malicious manipulation, because the development team of BTG is surprisingly weak and even the wallet is not very stable.Of course, there must be the responsibility of the miners, to have the rudder.

It's because bitcoingold is a dodgy premine, and most exchanges decided not to list it. Have a look at the following thread on r3eddit about by bitcoingold is shady:

https://www.reddit.com/r/BitcoinMarkets/comments/757l70/here_is_why_bitcoingold_is_shady_and_a_scam_you/

It gives links and sources for all the arguments. It was doomed to fail.

If you did any kind of research at all, then you would have realized that BTG was and is plagued by major problems.
It was incredibly rushed and had virtually no support from the crypto community.
Basic tools like wallet, blockchain explorer, etc. were either not available or difficult to access.
Credentials of dev team were very iffy.
And the biggest red flag, the premine done by the team.

If this were an ICO, people would readily see that it is a scam.
But since it was a fork, people blinded themselves by thinking, "Free coins! Free Money! Woohoo!"

I guess one of the good side affects of all of this madness, is that it drove the price of BTC up to new heights.
And along with the segwit and BCH drama, BTC has pushed through it all and set to hit 10K by the end of the year.

Because the BTG team & BCH team R the same chinese sluts owned by the same Triad?

Move along, BTC is not going to be owned by Mafia China, next time Xian-China Team-Ashkenazi try's to OWN BITCOIN brand tell them to bring smarter ppl to party.

buy one get one free offer works upto a level , now ppl buying BTC to get another coin free if fork takes place again .. is it serious business of just mere speculation and quick gain ?

I think technology should work for last man too but if you are not able to spend BTC to buy a cup of Coffee then what about micropayment .. ?