Bitcoin Forum

I came across this article this morning and I want everyone's input on this idea...

https://cryptotradernews.com/cryptocurrency/is-bitcoin-gold-a-scam/ (https://cryptotradernews.com/cryptocurrency/is-bitcoin-gold-a-scam/)


Is Bitcoin Gold a scam? Think about it...  Ever since the BTG Wallet scam happened I've been a little concerned that all of these "alternate bitcoins" were just trying to take advantage of people.

Idk... thoughts?

I just came back to crypto when BTG was forked, haven't heard of BTG for years now and it seems that people had stayed away from it after the BTG wallet incident. The only Bitcoin fork that is famous among crypto enthusiast is BCH which is still alive and kicking.

I have neither invested not I will recommend anyone to Invest in BTC G. Except Bitcoin all other are SCAM! for me. The most hyped and famous fork was BCH, and everyone here knows what happened next. It is better to invest in Bitcoin and only Bitcoin.

It may be alive and kicking but this won't be long, trust me.

What can we hope for this forked coins when they just using bitcoin to make their shitcoin to be known. All of them was purely made of hype especially bch. Just look what happened to other forked coins, they'd pile up to other shitcoins perhaps now worthless.

From what happened to their wallet, it's simply implying that it's too vulnerable and probably planning an exit.

There's also Bitcoin SV or something like that... not sure if that's any more reliable than BTG...

When BTG wallets have been hacked, many people stay away from it and I think it's dead by now. The most successful crypto is Bitcoin that is why many are trying to make names closer to it but most of them fail. The only one that has a close performance to Bitcoin is the BCH which is until now was alive and performing good in the market.

I see no real updates on this project which is a fork of bitcoin. Gone are the days when people are so exciting about forking all because free coins can be distributed. Now, we know better as almost all forks are literally gone except for some. Maybe there are no more developers behind the Bitcoin Gold that is why it is even tanking in terms of price. The problem with fork coins is that they have no choice but to pretend to be another bitcoin when we know they are now and will never be. I even don't get it fully why forks have to produce another coin in the first place.

I dont think that its something that forked out of Bitcoins and it's not a scam , the scam is the people who actually hack it and wallets who doesn't actually have a good security.

I don't think it's a scam , the developers and the BITCOIN GOLD is long since forgotten but at the same time , you can actually go and buy and sell it , it's like most alternative coins in the market that ate actually not going to survive the ride finally.

At last, it's not a scam and if you want to indulge in it , play safe and use some descent software.

IIRC, these are fork of bitcoin, but I don't think it's a scam coin.

This coin https://coinmarketcap.com/currencies/bitcoin-gold/ , you can see that it was live trading last October 2017 and are still existing until now, and not only that, the volume is still huge with $40,904,508 USD now.

Those are like a simple barometer to determine if the project is legitimate or not.

For me im staying away from coin that has bitcoin on first name.I only trust the one and only bitcoin in our market.But i make exceptions for BCH since im holding some BCH on my wallet and  i personally think that this coin is promising

yes, I feel right. Since the incident of BTG Wallet in my opinion this is due to hacking if a scammer and this causes a bad image of the developer. everyone makes an opinion that developers are scamming on BTG Wallet, but actually it's done by scammers.

If it isn't bitcoin and has the name bitcoin associate with it then it's another shitcoin which makes it a possible scam. Founders of such coins just intend to tap into the bitcoin hype and possibly decieve newbie into thinking they're buy bitcoin just as Bitcoincash did.

I see people thinking because it has huge marketcap that doesn't make it a scam are you guys new to the industry, are you forgetting bitconnect had more market capitalization than most legit project  as of when it was listed among top 20 coins on Coinmarketcap. To keep your fund safe, stay away from any coin associating themselves with the bitcoin name that's isn't bitcoin. BitcoinGold is just another shitcoin waiting to die off.

Yeah but this obviously hurts the developers like you mentioned...

Just because something has low adoption and the price continues to drop doesn't mean it is a scam.  Some things just fail without any malicious intent.  The SV and BCH forks are still holding good value so some of the forks have been successful.  Keep in mind that these low hashrate coins can be 51% attacked very easily.

Bitcoin is a decentralized peer-to-peer electronic cash system that does not rely on any central authority like a government or financial institution. All transactions are recorded on a global public ledger called the blockchain.
I think it is not scam.You can trust on Bitcoin but beware  from Scam.

I don't think we can call any mineable coin a scam. There are shady and high premining on most but they still depends on miners to complete the transactions. Bitcoin Gold is one of the most popular bitcoin fork. Though the fork was unprofessional and the team unorganized, it has established itself as the second most important fork after bitcoincash.

Probably a controversial comment: I don't think BCH and BSV are scams per se, but BTG? Erm. I'm not going to say that it's 100% a scam, but I'm far more skeptical of it compared to BCH and BSV. Is it a scam? Probably not. Is it shady? Yes in my opinion.

Why do those other two that you mentioned make you feel more comfortable than BTG?

It's too early to conclude that it's a scam coin since it's minable. It still has potential though trust has been a problem for most users right after the BtcG wallet hacking incident. We all know that one wrong move of a certain coin and everything would get ruined.

The coin itself is not a scam because we can see the price is pretty high and the volume is high everyday meaning a lot of people are using it. The thing is this could be considered a cheaper copy of bitcoin, and we can see that only by looking at its name and also its functionality. The problem is this coin security is much weaker than bitcoin security and the developer has created it mainly for profits.

There are simply more reputable people that are affiliated with both BCH and BSV(besides CSW); and their reasons for forking off is somewhat debatable. As with BTG, I'll admit I haven't done much research on it, but I've heard mostly sketchy stuff about it.

Oh well, not interested at all in Bitcoin G. I don't know but I just want BTC not the other forms of bitcoin alternatives. Though they have promoted it so well with strong project and goals, I still doubt investing into it. Maybe, if time goea by and Btc gold will still had a value i'll think twice.

I won't call Bitcoin Gold is a scam because so far, I can make a nice profit from the coin ;D
I don't have much information about bitcoin gold, but I think if the coin can give a way of making a profit, then we could use the coin to make more and more profit.
And when the coin is a scam, I think the coin will be left at the bottom, and no one will use the coin to trade to make a profit because the coin is not worth to trade or hold for a long time.

personally I think Bitcoin Cash is good, all the other forks have been useless and a way to enrich whales with big wallets, Bitcoin Gold for me is a cryptocurrency with no growth margin like many other Altcoins

Most people are negative about BTG. I don't know if it's a scam, but people don't trust it. I have not studied this coin, so I cant say for sure, but I think that the opinion of the majority is not wrong. So I will also continue to shun her.

It seems that way because you were gone, not us, the miners, traders and hodlers were still here, exploring this new bitcoin.    I have been here mining BTG steady for over a year, the team is there, if you have concerns you can contact everyone right up to the lead developer. https://discordapp.com/channels/378266958824603649/398943544154259466  

They are a transparent crew and a lot of changes have been made since you've been gone.  I have ran a full node since shortly after the initial fork, I held my hash power on ZEC while I determined what was going on with BTG.  After all the initial FUD I moved all my rigs to BTG 200,9.  I pulled my rigs off around the 51% attack and then immediately put them back on after the BTG fork to 144,5 and aggressive response to the attack.   Transparent, ask them, they will tell you, if you don't understand they are more graceful than Satoshi, they have time to help you understand. https://h4x3rotab.github.io/btg-transparent/

They are an active bunch, now they have a perimeter setup, Its going to be interesting to see who wants to fuck with them now?   Scam this scam that, all the answers to all the scam questions are there, you just have to dig it out and get to know them, don't hide. I have a shit load of resources dedicated to this project, independently, with no connection to the core group.
  

BTG is a great project that offers an alternative for small miners to mine with GPUs, allowing everyone to participate in validating transactions. The developers behind BTG keep developing new stuff and their community is actually growing, they are very active in different social media. I have had BTG since they forked in October 2017  and I still keep them, it is true there was an issue with a hacker who scammed some people trying to retrieve BTG from the fork, but that does not blame the developers at all, in the cryptocurrency sphere everyone can be hacked, in facts most of the major coins and exchanges have been hacked and some point, all of them!  Regarding the price, of course, all cryptos are digital assets available in free markets, all coins including BTC has suffered a price decrease because of a correction, if you don't understand this you have to study more about market charts and fluctuations. Now that bear market has ended, the cycle starts over again. In my opinion, now is the best opportunity to invest in crypto. Do your own research, do not let anyone fool you with no sense comments.

Why is this even here? bitcoin gold is an altcoin and this thread must be placed on altcoins.

Why people do keep on talking about these forks? BTG has been 51% attacked already right and got delisted in some exchanges.

even if it is not a scam then I would never consider investing in it or buying it
its reputation has been tarnished by the infamous premine by the owners
add to that the btg wallet scam where they even put it on the official page , this doesn't mean the coin is scam per se
but the creators are not exactly trustworthy or not very competent at the very least

Yes we were attacked but you have forgotten after that one and only successful attack we hardforked to a more memory hard required form of equihash(144,5) which hasn't been and almost impossible to attack at the moment. We are also developing block notarization on btc and other chains as I write to you, what more? BTG isn't the first major and only coin been attacked in the past (I can mention BCH, formally Zen and Verge etc). It is about building a robust solution to survive the worst scenario on your blockchain and that is being successful. Having said this the supposed "pre-mine" you call had an intended purpose stated in our whitepaper during launch. To serve and fund development of the project as it is doing now. It is clear on the blockchain the amount without any hidden information. Check the wallets here: https://h4x3rotab.github.io/btg-transparent/ . Apart from that we have a live and an active team who aren't hidden under shades working. Recently three of our board members were present at Consensus to partner a lot more, if you care to check them out: https://twitter.com/bitcoingold/status/1128574062140297216 , https://twitter.com/bitcoingold/status/1129006058087833601 , https://twitter.com/bitcoingold/status/1128574062140297216 , https://twitter.com/bitcoingold/status/1128693296556064769 . Have a good day!

not to scam in my opinion but the fact that bitcoin fork is always a problem it seems like that, I don't know why every bitcoin fork always happens but BTG doesn't scam because there are still many exchanges that still offer BTG trading, but compared to 2017 very inappropriate because of the comparison of ATH with the price now very far.

Not to mention the reason for forking it was absolute BS and it was dumped hard soon after forking.  BTG is simply a way for folks to double their Bitcoin but it failed since it got dumped so hard.

I did not try to invest on bitcoingold before so I can't say that this is a scam. But I read so many negative comments about that coin. They say that it has a limited security featured and experience a high percentage of scam and fraud case. So I did not recomend to invest on it because I think this is very risky.

They are the same as those bitcoin SV and bitcoin diamond. They are just trying to get the piece of the huge marketcap from bitcoin and this is very confusing for people who don't know a lot in crypto. I would not even touch bitcoin cash even it is in the top 10. Just sell it for your own good.

Turning to scam might be a way out but I see btg to be a good project but the hacking aspect is just one of the night mere in crypto even big exchange got hacked and that still not mean they are not good on security .

But majorly the forks from btc are just trying to develop their idea which is different to BTC but btg has not use any way to tackle btc but the bch version are the major problem we are having which they are trying to claim what is not .

Well we can't say yet if is a scam, we will see over time, but i suggest to invest on bitcoin because only bitcoin is the real bitcoin and as someone said always invest on bitcoin not on bitcoin gold or bitcoin y because you take a high risk and can lose money.

I hope you are not affected by news that is not yet clear. You should not say that Bitcoin Gold scam just because one article has not been guaranteed the correctness of the information. Bitcoin gold is still playing on the market and there are still many crypto currency players who play bitcoin gold on the market. You should not say that the bitcoin gold scam if the existence of the coin is still in the market. I hope you don't make a story that can affect the fall in the price of the crypto currency and the decline in confidence in the crypto currency that has risen further.

I don't think BTG is a scam but I'm not really of fan of it. Intact I've never held BTG on my portfolio. One thing is certain, most projects will promise you almost perfect architecture but most won't achieve 1/4 of their promises.  I think BTG is in that category.

I know that and what's that mean for the developer to take a lot of coins as the premined coin in the past? Didn't it look something shady to see that? After all i think if this is much better rather than BSV that claimed anything to be created by faketoshi. But just curious about what will be the answer.  ???

Bitcoin gold is a confirmed bitcoin hardfork that actually took place and since the fork its been alive and has good volume too I don't think bitcoin gold is a scam at all same for bitcoin z too

Bitcoin Gold, Bitcoin Diamond, Bitcoin Cash, Bitcoin ABC, Bitcoin Private, Bitcoin Atom and so on.
Tell me one thing in which way they are better?

There was a period of time when they created a lot of Bitcoin forks. The bulk of these coins are coins that have no value, respectively, they have no prospects. I do not recommend you to invest in such coins.

  Hello, I have been on Bitcoin Gold team since November 2017 https://bitcoingold.org/our-team/ , we are not a scam. We are the first Bitcoin fork that switched from ASIC mining to GPU only. It is also true that we were 51% attacked in Q2 2018, however so was Verge, Monacoin, Vertcoin, other projects at that time. Since then, we have hard forked in July of 2018, our new mining algorithm is called zhash(Equihash-BTG). https://bitcoingold.org/a-successful-network-upgrade/ It is ASIC-resistant again, the memory footprint is about 2GB.

  Also, there was a premine, it is true. Also was part of the whitepaper that was released October 2017 before mainnet: https://bitcoingold.org/wp-content/uploads/2017/10/BitcoinGold-Roadmap.pdf page 9 and 10 . We have plenty of the funds left: https://h4x3rotab.github.io/btg-transparent/ , these wallets are constantly being updated. So you see, we have done what we said we would do, and will continue to develop: https://bitcoingold.org/roadmap-2019/

   We do not spend money on ads, that is why many do not hear from us. But we are always around, check our discord http://discord.gg/HmVUU6S and twitter https://twitter.com/bitcoingold

   We are also on over 70 exchanges and trading normally. We have plenty of market support, plenty of plugins support us like Coingate, Coinpayments and Paytomat. We have merchants that are starting to accept BTG payments: https://cryptwerk.com/pay-with/btg/ Our community is organically growing and our hodlers, miners and supporters are strong.

Cheers!

Well I don't think bitcoin gold actually scammed anyone, but I know that reason why people called it a scam, because what they just did was to create a fork from the Bitcoin blockchain in order to make a lot of money for themselves and abandon the project, they were not really concerned about what happened to the coin in the future, their main focus was just to make sure they get on the exchange and make a lot of money for themselves.

We can't probably say that bitcoin gold was scam. But just to make sure that bitcoin gold is not a scam do some research to simply amswer your thoughts behind if it is a scam or not. But if i were you, i would definitely join in good bounties like bitcoin and in a dencoin which are rrally good.

no one better than bitcoin, i think all exchange will delete all bitcoin forks, just like BitcoinSV delisted from Binance and kraken  ;)
so all money will come back to bitcoin again, then we will see bitcoin price growing in fast mode and touch another high on price

All other cryptos except Bitcoin is a scam. The only legit currency is BTC. Why? All those altcoin projects were launched with specific individual targets to make high benefits from investors and marketers. Think twice, what Satoshi did and why he never revealed himself/themselves/herself.

I bought BTG at the price of 100$ + by thinking it will be next BCH even team was showing lots of progress like bBTG wallet and lots of good sign all of sudden BTG wallet issue came everythink started to sink . Still i am having some hope in this coin. In the article also stated mistake can happen with any one even big exchanges like binance also got hacked . Still team is improving and showing lots of progress prices also slowly picking up.

It is not new that most of these alternate coins are doing that, which is why some of them go to the extent of attaching bitcoin to their project to gain people’s attractions. I just heard of another fork of bitcoin coming up in July today and I wonder why people are still falling for the prank of these people just because we want our money multiplied, but eventually, we get scammed.

If anyone wants to really invest in any project, we already know the ones that are functioning well and worthy of trying which are the ones at the top 20 in CMC. If we also talk of utility coins, they are still within the top 20 coins, because virtually every merchant accepts bitcoin and ethereum even if they have their own coin.

We should not use binance issue has an excuse to hold on to shit coins, once a bad project will always be a bad project. There are many ways of scamming people in this cryptocurrency market, some scammers will scam without caring for their reputation or going through the stress of making people believe they lost their money because of failed projects, while we have some scammers that will indeed enter exchange, and then purposely fail for the project to die down so people can hold on to that excuse for losing their money.

There is no way some of these coins can really perform like the  original designed one which is BTC and I expected most people to have focus on BTC for now ever since we started having issue of these scam projects and bad projects. Most of them are empty promises.

Pure deception. Created only for the purpose of selling about 200,000 premined coins.

And to be honest, I'm surprised, because they managed to implement this idea

Indeed, many traders say that, but to cheat I do not think because BTG is still heavily traded on top exchanges, and still has a fairly high trading volume

there are different definitions of being a scam coin it seems
many here think that premine is a scam already and yeah this coin is a top 25 coins at the moment
its capitalization is over half a billion USD and it is traded at some of the major exchanges:


https://i.imgur.com/yCdNwgR.png

I don't fancy buying it or trading it  and the coins I got from their fork I sold immediately

I don't know much about BTG because I never bought the coin, but for a scam I don't think it's possible, because until now the coin is still being traded

I a bit sure about this though, but I don't care because I only have an investment in ETH and BNB for investing in altcoin. For the rest, maybe your though was right and we just make a profit from their negligence when decide to manipulate a market. I only spent if I had money to investing on bitcoin, because it will be safe for my money as long as I can hold back my patience.

Bitcoin gold is a scam coin, there is no reason for it to exist and no reason for people to buy it. Of all the bitcoin forks only litecoin and bitcoin cash are worth buying, the others are just a waste of time or a scam

 In theory, any coin can be suspected of fraud, as we do not see any results at the moment. Few people have fulfilled at least some promises, painted in white paper.

We can't definitely say that the bitcoin gold was a fraud. If you were doubting about this project make your own studies or reviews about the bitcoin gold to answer your thoughts. Never ever focused on the one sided opinion because others has some lacks of understanding. And for the other thing bitcoin gold is not the only project to be part of, there is many more like btc, eth and ofcourse the Dencoin which offers a good project for investment.

I did not see anything so that they brought something new. All of them were created mainly for speculation and nothing more.

I honestly do hate these entire bitcoin forks or any coin that has bitcoin as attachment to its name, because I feel they are just trying to deceive gullible people into believing they are attached to bitcoin or functioning like bitcoin meanwhile they have no real use in the real life. The only way they have been getting attention is through the hype and people believing that it will yield investment.

What I do ask myself is what people are actually using these coins for, because I don’t see the products they are selling. I still understand exchanges, their product is their platform and that is where some of them generate their value from for those that have currency, but these ones, I really don’t know their function.

I don't think Bitcoin Gold is a scam. Just another useless fork. Yes, on the wave of HYIP, he spent some time in the top. But now he just does not need anyone. It does not have any real benefit, practical load, which could be used in the real world.

I don't think so because it has value. It was just like what happened in ripple wherein people are hating this altcoin since it is a centralized cryptocurrency. Maybe, it is not the main reason however, being a BTG wallet scam is a huge accusation for BTG.

Hi there! this is sad but this is true, i'm afraid to say everything to do with btc makes people believe in it but unfortunatelly, it's just a trap.

I think so, because you understand that all branches of Bitcoin are made purely for the enrichment of their creators. This is obvious and deplorable.