Bitcoin Forum

Hello Everyone, i have recently invested in bitcoin gold when price was 400 dollar and was rising. So i thought of giving the shot  but since then the price is dumping like anything.

I was reading through twitter and facebook. Many people claiming it to be scam. I really would like to know from people whether its really a scam ? If i would move out now i may still save some dollar.

Edit Recovered losses, thanks for all support.

no mate, it is not a scam, you received it because you diserved to have that coin, we all were supposed to receive that coin because it is the result of the last fork.
just think about it, you received about 1:1 of your total bitcoins in bitcoin gold, the only ones who were not able to claim them were those who were holding their bitcoins on bittrex.
It has been rising a lot, i dont find a good explanation of why it rised from $110 to $400 in just a few days, it is so strange, i dont understand.

Thanks for the info, exactly i bought around 50 btgs at price of 400. I had put my all savings thinking i can build good money for future.

But right now, i m so much worried seeing it dumping like anything. Posts on twitter about scam from btg teams in different ways.

I dont know if it will ever recover back. :(

Are you serious? you bought 50 bitcoin goldies at $400 each one? They were 1/4 of its actual price three days ago, and now you invested all your money in there? Why have you done that?
It is more than twenty thousand dollars and i am sure that bitcoin gold will drop a lot because it has been hyped just like the way that bitcoin cash has been hyped too. There are better coins than this one, and you just putted all your savings in here... you were not smart at all.

I regret not selling it for 475 dollars. I had put up sell at 500 dollars and it went till 484 , i missed selling and now i am in hell. 

I can hold the coins for a long time for price to recover. I just want to know whether the coin is a scam or not ? Because seeing so many posts on twitter keeps giving me small heart attacks again and again

Who in the world does what you just did ? Why would you buy a coin that you're not even sure about yet ? And to make it worse you decided to put in all your savings in that single coin that you have no idea about ? $20,000 mate ? That's literally crazy.

Well, you should've read here and there before attempting to make such an investment.
After any hard fork, people tend to sell their coins all at once as they just go them for free and they wan't to benefit from it at the best price. That's why you can find almost the exact scenario in Bitcoin Cash.

But the fact whether a certain coin is going to have a future or is just going to keep going down till it dies like any erc-20 token depends on whether or not the coin has a community that supports it.

And it looks like the premine that BTG devs announced hurt their reputation a lot and I'm not sure if the coin will recover any time soon.
Why didn't you invest in bitcoins ? The price at that time was about $6800. You know that it is easy for it return to 7k+.
That $20k could've been $21.5k by today's price only which is actually going to go up more.

I really don't know what you should do, you're in such a complicated situation. Selling at today's price is not a good idea either as those 50 coins won't get you more than 8k ouch !

I'd suggest you totally forget about the coins for now until it gets pumped and sell at that time. Sorry for your loss mate.

I know i made a mistake since i became greedy at that point of time .I thought  Within no minutes, i will sell for 500 and could easily make 5000 dollars. I know how much i am repenting. I have learnt alot of things that day.


I need support to know whether bitcoin gold is a scam. Hope they will not run with 8000 also which i can get back now. Please guide me.

I think the word “Scam” is over used.  BTG it’s a cash grab, maybe a pump and dump, and a poorly executed clone, but since the developer is pretty open about when he is doing, I don’t think it is a scam.  I reserve the word “scam” for when the developer is lying to enrich himself.  Here, he is just openly trying to enrich himself. 

Why didn't you noob invest on bitcoin to get any future bitcoinxxxxxx scam fork and then dump them on someone like yourself? I wouldn't call them scammers, I would say that they're selling you what you could get for free, You still can get more than 16 millions of bitcoin double spend, First launch a coin and while you are the only one with most of the supply :D Fork it and have x2 coins on your own exchange, no one will suspect or stop you. more power :D

It is not a scam coin of course, but it is one of the most shady projects that i have ever seen, a few hours ago a group of reddit has discovered that the developer was taking about 0.50% of all the mined coins from all those guys who were mining bitcoin gold.
The devs are taking profit from everything, and this is the only reason of why they created this fork, because they want as much money as they can, that was the only purpose, they dont even care about the people and about the community, they just want money.
And investing $20k in this coin? you should think it twice.

There are some facts that say that Bit Gold is a scam.
1-There is still no technical information. Mechanics and algorithm from ZCash. Nothing is known about the complexity of mining. There is no test network, there are no test transactions. The code was not updated for 27 days.

2-Problems with the code. There is no protection against the double transaction that is stated on the site. Without protection, no exchange and wallet will work with BTG.

3-The idea of BTG, the site and the data has completely changed several times. In the early photographs, the currency is called Bitcoin GPU, the English translation is very bad.

4-Whois - many other very scam domains are registered for the same email address.

Can you please share link for this whois ?

There might be someone pumping it then dump for (of course) profit. The crucial thing now would either continue to hold and hope to profit from it or just cut your loses. Actually, I don't really kind of invest my coins with that type of coins.

To be honest, i am totally okay with holding only if the coin has future. I dono see any support for this coin right now which is of big concern to me.

Any big whale who can help to pump the price and save me from the loss will be appreciated. He can pm me.

Else i am ready to hold it for long time. Dont feel like selling low and crying whole left time that would be stupid.

people call a lot of things scam just because they want them to be dumped for many different reasons but mostly they do it because they want to buy that thing at the bottom and then ride the pump of it.

in case of bitcoin gold, i still wouldn't call it a scam. but it definitely is a shitcoin. that doesn't mean it is not profitable to invest in it.
your mistake is that you bought it at a bad time. you bought when everyone was dumping their free BTG tokens. there has been 16.5+ million bitcoins when they forked it and people received 16.5+ million BTG from this fork which many will surely dump and continue to dump in the near future until it reaches the bottom.
if you want to invest you should invest by then, when the dumping has stopped or slowed down.

don't expect anything big out of this premined altcoin but it has potential for getting pumped.

https://bitcointalk.org/index.php?topic=2253633.0

SCAM

SCAM

SCAM

SInce aug 2017, everybody has said SCAM

The BTG-DEV team is gone, they scammed out, they put malware in the daemon to scam mining coins

SCAM

GOOGLE "Bitcoin Gold Scam", you will get 380,000 hits


Typical bullshit ppl when greedy do stupid shit, but after they lose their ass they go running to government to product them, make them good.

THIS is why the GOOD exchanges REFUSED to trade in BTG

Let us guess U bought on YOBIT.NET 4 weeks ?? From the RUSSIANS???

SCAM

+300 posts on this forum since August 2017

https://bitcointalk.org/index.php?topic=2253633.0

SCAM

"an operation to separate fools from their money"

***

All the fucking ALT's are scams, cost of all input is ZERO; SHILLS by the 1,000's have been shilling BTG for weeks, Jack Liao spent $100's of thousands of dollars in the past months getting favorable PR to launch this code


Hell every newspaper for months "BTG  Going to make mining Equitable again ... "


ORCHESTRATED SCAM

I don't believe Bitcoin Gold is a scam, I believe in Bitcoin hard forks, like Bitcoin Cash that was pumped last week. And I do believe that Bitcoin Gold has a good future also like Bitcoin and Bitcoin Cash.

https://bitcointalk.org/index.php?topic=2253633.0

SCAM

**

Back in August 2017, Reddit did  a 10 page analysis of this coin, about who was behind it, virtually every scam website in Bulgaria is owned by the same scammers

In this case BGT*.* 100's of SCAM webs all designed to steal priv-keys, wallets, BTC's, .. all orchestrated cuz ppl wanted free btg

i don't think that bitcoin gold is scam because the last time i see the price in yobit is 0.08 btc and i don't know how much the price now. i think if you can take this chance to buy and then sell to make profit, i think you need to analyze the market first before you decide to buy. i don't know the other exchanges that have bitcoin gold in their list but i think you can try to trading bitcoin gold too like other people.

Indeed, even Bitcoin was actually pumped by Whale traders back in time. The way they pumped out Bitcoin Cash and could be possibly the same for Bitcoin Gold. Money is more superior than loyalty since before. So if they'll consider that Bitcoin has a future then they could pump it out whether we like it or not.

Indeed, and I really wonder why people freak out whenever there's going to to rival Bitcoin. The sudden pump is the only way to get more investors and miners to support the increasing network volume.

Tried to get bit profit but got scammed. i know its my mistake only.

Just hold it until it rises up again. And it definitely will. If you do a small research, you will find the idea behind BTG great. It's like Bitcoin initially made for. A decentralized & 1 GPU = 1 Vote cryptocurrency. Today only the big mining companies have votes.

BTG is not a scam coin. It's just another BTC fork with equihash mining algorithm. Where is the evidence of its illegitimacy?

So it's a scam when you try to make profit but fuckup instead ?

There is no way that you were wrong about market ? No ?

the premine.

although the premine doesn't make it a scam, that was the whole purpose of BTG.  a truly fair launch would have had no premine, like BCH.

No one can know Scam it or not. Now a lot of people earned good money on the bitcoin to cash but thought it was a Scam. I still think so. But this will take a few years. Any cryptocurrency is not conceived as a Scam but the problem is that without the support of the user of the coin becomes a Scam or lives on.

It may be a scam for certain people, but i think BTG should one day attain 500 USD. So just hodl your BTG now...

Bitcoin gold is a scam I think. This fork is simply not needed, he does not carry anything useful and new, it was held only to obtain your private keys. IMHO

Even if you think it is a scam, still a lot of people who had purchased it at 400$ earned a lot of money which it reached 2500$ within two days. you should closely look at this coin as it will be a pump dump Bitcoin Cash coin and investors will pump and dump it heavily to get high profits from it.

What did you expect from a premined coin, the developers of which have no focus on optimization for the future and only seek a fast way to pocket some cash? You should've waited till the whole thing unfolded unlike jumping on a hype train before investing in it and now you're in a deep hole where even cutting losses wouldn't be feasible at this point. Just sell it before it digs itself into a deeper hole and plan your future investments with proper research.

Bitcoin gold is just a way to hijack bitcoin holders. It is easier than doing an ICO. By giving airdrop to bitcoin holders, the team is succesful distributing the coin massively. After that, they may ask for support from capitalists so they earn cash to buy back the coins. That's smart and short cut project. However, I am not really interested in holding BTG in my wallet. I use it just for dump and pump to make profit in the exchangers.

Saving 8000$ + future opportunity costs avoided is better then watching the coin hit 0$.
Buying 1 BTC instead of 3 yesterday might still be your best shot.

I would almost TIP you if you could share your investment logic with us. How does a newbie unload 20.000$ into BTG of all the cryptos in the world (assuming your story is true)?

"Long term investment" in a traders journey is a trade gone wrong. Do not kid yourself.

He is talking about Bitcoin Gold, not Bitcoin Cash. You got it mixed up.

Yea I saw this, It's a shame. It seemed like an interesting Idea but in the end it had way to many red flags for it to be legitimate.

Bitcoin gold was not well accepted for that reason the value of it fell a lot, however it has a legal potential and can rise a lot in the future.
Bitcoin Cash a few days ago was well below the value and now has gone up quite a bit, the owner of bitcoin cash has profited greatly from its increase.
I would keep these Bitcoin Gold for the future, even if selling now will take a big damage.

This was in my opinion some quick made distraction from the big politics and battles between 2X and NO2X sides. No added value to the industry from this coin, shady history, shame for the bitcoin brand name.

never buy these forks

dump out and get into something that is going up instead of down.

you can easy recover your loss but you need to find the worthy projects.

asking btc whales to pump it to save you a couple of k is more than unrealistic imho. 

Although a pump is not out of the question i mean you have btc whales with bags of this crap for free so if they can pump and sell it off to people that really have rocks in their head they will do so.

perhaps you will get one pump and one chance to dump... dont miss it.

I am absolutely geared up for this and also analysing the chart very deeply. i can predict somehow if the pump happens. lets wait and watch. Hope i get my money back. After this  i am not gonna invest before a detailed study on the coin.

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

Nop! Nothing is shady. Satoshi is anonymous, don't pay attention to guys here. It is open source, actually btg is unique (as far as I'm aware) in having a pool software open sourced! And guess what? The devs have put some codes there to get a 0.005 share which can be removed by means of few minutes, and yet yellow media plus some ignorant users are saying it is some kind of a scam!

It is not, how can an open-source project be a scam after all?

I admit, devs privately mined some 200K coins or so (I suppose) so what? It means people (legacy bitcoin owners) have %99.9 of the coins and there is absolutely no pump and dump threat unlike most of the altcoins. I think other than their obvious interests, devs have chosen this strategy to stabilize the difficulty and other issues.

On the other hand, the core idea, getting rid of ASICs, is very promising and important. Any honest crypto advocate (i.e. no bitcoin enthusiast) should agree that ASIC is a crack against cryptography, it has always been a crack, the only crack against crypto. Satoshi made a mistake by choosing an algorithm with a small memory footprint that a neob could predict its future: being 'ASICed'! And now look at bitcoin, it is dominated by Bitmain and Chinese giant farms and is far from a truly decentralized ecosystem.

I am strongly supporting the idea of throwing away bitcoin's vulnerable, useless hashing algorithm and if bitcoin gold do not succeed because of its developers mistakes or anything, I think we have to retry this experience by another fork attempt in the right direction.

Wow , that was lovely. But I still dont understand after having all the idea and experience how can bitcoin gold developers can take it so easy ? I am sure they must be working like anything but weren't they aware for the floods coming their way. It seems foolish that bitcoin gold developers have not even given a positive update till now.

After his release, he did not like the audience. I think he has no future. I wouldn't invest money in it.

I was thinking along the same lines. I think it will come in the future, but I doubt this particular crew is going to pull it off.

You bought into the hype. That usually ends in tears. Part of the reason that the price has dumped is that the launch was rocky and the fundamentals aren't great. The coin doesn't have much going for it besides potentially tapping part of BTC's network and using its name.

The other thing is that BTC has turned bullish in the last several days, and it's already approaching the all-time highs again. Under these conditions, it seems the forks (Bitcoin Gold and Bitcoin Cash) suffer. There seems to be a negative correlation right now.

Scam? I don't think so. It is just a useless token.

Regulations need to be introduced to crypto right away. It is unbelieavable that 5 people can just choose to fork BTC, premine it before and dump it on everyone else. Not to mention how markets are going down before the fork.

Anyway, as soon as these forked coins become worthless like BTG is about to, people will stop buying BTC before the forks and markets won't crash so hard.

Welcome to the alt coin world and expect these kind of movements in the price and the volatility will be really high as most people will be dumping their coins and so is the reason the market crashed,hopefully it will recover at a later time,till then hold on to your coins.

I have been reading the MyBTGWallet has been stealing BTC from peoples private keys. Including the premine, this operation is shady.

It's also happening with the bitcoin cash fork, some people are trying to claim their bitcoin cash got stolen, their bitcoin was disappearing from their wallet.
I think that someone try to put another code into the wallet. The bitcoin will be sent automatically after you are claiming your bitcoin gold. That's such a big scam.
They are not losing little amount. Big with the latest rate of the bitcoin and that's so big.

I think the second child from Bitcoin will be the same as Bitcoin Cash. This is because both have a similar starting price. Clearly, these two coins are held by Big Holders. Whales roam that control the price.

I guess we should lauch private key 2FA soft fork now, some way to double check and double authenticate the use of private key otherwise this kind of scam will go on for more

It's legit. Only problem is, that nobody seems to support it. Which is a shame, since I got them during a hard fork.  ;D

too many red flags i think.. just fast money making fork thats all

You mean you bought it? That was pretty stupid in my opinion but I doubt you actually bought any. Anyone who does even a simple google search can find pages of posts showing it is a scam. If you did buy it then your going to get dumped on and you deserve it for being stupid.

The only scams here are the pump and dump schemes which are performed every time a new coin is created, to exploit the expectations of the first enthusiasts.

Talking about the future, it is what we make, imo, so, if you are really in the same lines, you should take your part and do something about it. As of my plan, I'm just following this one, btg (as well as bcc+), learning and planning more.

For now I think we should give more both time and space to btg team but I have already been convinced that they won't accomplish their mission mainly because of one important point they have missed: It is not a simple technical problem to be solved by a handful of programmers, it is about money for the god sake! Tens of billions of dollars are in the stake and the stakeholders are ones who live in the limits, on the edges( of everything, technology, law, morality, ... ), they are reckless, ambitious, cruel and aggressive.

Look at this hype about a few lines of codes in a bonus open-source pool software, which can simply be commented out or tons of articles and comments about 0.01 percent privately mined  coins. It is not just a misunderstanding or a public paranoia, it is a systematic attack against btg  managed by people who are benefiting from the current situation in the crypto ecosystem. BTG guys obviously where not ready for this flood and they are failing because of it. They need more sympathy and support from the community but if they supposedly fail, the strategy, improving bitcoin by making it ASIC resistant, is not what we should point our fingers toward to blame, it is about business and organisation.

Some immature perceptions of mine:
1- As I remember, @GMaxwell recently has admitted the possibility of this improvement, I think there are other prominent figures ready for committing to the idea, before the kick start, btg team,  should have convinced  them to become more active and supportive.

2- I don't know, but 200K coin was too much for a confident project team. I mean if they were sure enough they didn't need that much of reward. Actually I'm against such tactics for this special case, forking btc. It prepares ground for scam accusations and a lot of enemies are waiting to play in such a ground.
 
3- Open source pool software was a brilliant idea that ruined by the dev fee lines in the code, but without that flaw it was not enough, anyway. They should have come with more.

4- Media coverage was poor, mainstream was against btg.

5-Personally I think choosing Equihash was not a wise decision, instead I prefer a mild improvement in SHA2 by adding a DAG navigation step in each cycle, this way we can reuse current wallets and other pieces of codes in the btc ecosystem by a few lines of hack. I prefer hacking to rewriting or reassembling.

So if this one fails the second attempt should be carefully planned and executed with no pre/private mining, more tools and features and probably a more smart algorithm hacking strategy and most importantly, more community/celebrity support.

Good comments aliasshraf.

I find it wonderful that anyone can fork it and we get a good look of what works and what does not.
Shady designs will be ousted by the market.

We are watching a CryptoDarwinist show on steroids.

Thanks.  :)

Darwinism is about survival based on fitness but when it comes to artificial (human/society made) ecosystems everything goes chaotic and mostly unjustifiable and even irrational.

For instance almost every newly invented altcoin is superior to bitcoin (it should be, otherwise what is the point of creating an altcoin after all?). Yet btc is dominant. Why? because of power and enthusiasm. This is why I believe Bitcoin currently is in a  dead end situation as long as we are talking about technical evolution.

Finally recovered all my losses. my very happy. i will never invest now before proper research

Bitcoin GOld about $500 on Bittrex tonight, but some people are waiting pups to 1000+

Everything seems scam. hit-btc stop withdrawal and put their bots on website. btg and exchanges together scamming with whales.

Hitbtc has never been a trustworthy site, they are linked to the bytecoin scammers. People never do their homework then are totally shocked when they get screwed. :rolleyes:

It's so hard to find out too.

https://www.google.com/search?ei=brwTWrqWNIT8aYrWkeAI&q=is+hitbtc+safe&oq=Hitbtc&gs_l=psy-ab.1.1.0i71k1l4.0.0.0.5170.0.0.0.0.0.0.0.0..0.0....0...1c..64.psy-ab..0.0.0....0.MS4TNlpWqT4

Oh my God, I see so many people vote for it as for scam? Common, friends, do you really think so? Now, when it is traded, its price has reached as many say, up to the Moon, but probably simply people guess it has not bad future?
https://www.coingecko.com/en/price_charts/bitcoin-gold/usd