Bitcoin GOLD - A well thought Scam?

[Aureliusy]

Please Rebrand to Bitcoin Pyrite  aka Bitcoin Fool's Gold

[AiloveYouks21]

Well probably this is a really scam, and personally I'm not interesting in this anymore. Howewer we can be wrong and it's not scam need more research.

if you are not interested in fork, then if you have bitcoin gold please send it to me, but I am sure you will not do it because surely you will sell it.

[stripykitteh]

Well probably this is a really scam, and personally I'm not interesting in this anymore. Howewer we can be wrong and it's not scam need more research.

It really doesn't look like the people working with Bitcoin Gold is planning on scamming a bunch of people. I think that they are actually looking for issues within the network of btc.

[CryptoBuds]

I hope it's not a scam. It will be great alternative to mine when ethereum will change PoW algorithm to PoS.

[EthereumPY]

Bitcoin Cash, Bitcoin Gold....what's next? Bitcoin Silver?? this hardfork is all just confusing now. These new coins are creating stability, chaos and eminent crash!

BTsilver, BTbronze, BTvisa, BTmastercard and so.....

[bitorama]

it's not a scam, but a new altcoin

[solarion]

I hope it's not a scam. It will be great alternative to mine when ethereum will change PoW algorithm to PoS.

Thinking same. I don't know how we can consider that btc gold as scam. Moreover, it is the upcoming coin which gonna be introduced in future in next month. Now we can speculate the vale of the coin in starting time or after that but mention that as scam and all too much.

[danherbias07]

Its just another way for thrm to create money. Those who have lots of bitcoins are already profiting from fluctuations and now this.
Really, greed can be seen to those people.
They are already rich and want to get more richer.
Good thing is they wont be taking it to their graves.

[thycrypto]

Not only a scam, all alt coins were at a very low pont. Many investors that the opportunity to buy low while the bitcoin was rising. A tatic that was probaly thought out.

[peter888yeo]

I was reading some articles on Reddit regarding the upcoming Fork of BTC to create Bitcoin Gold or BTG. I stumbled upon one of the the post from Reddit user: EnviousArm
Reddit user link: https://www.reddit.com/user/EnviousArm

All the credits goes to Reddit user: EnviousArm as this user has done all the efforts and work. I am just trying to bring this to light for bitcointalk members. Thank you.

Link to the post: https://www.reddit.com/r/CryptoCurrency/comments/757jf4/here_is_why_bitcoingold_is_shady_and_a_scam_you/

Update 3: I've done a reverse whois lookup on their website, and found a ton of domains registered under the same email (not same IP) in their whois. the domains look super damn scammy by the way, you can check them out yourself here: https://i.imgur.com/HG31eie.png

And for the actual list if you don't wanna see a picture, here: http://viewdns.info/reversewhois/?q=xiangliao%40gmail.com

I got the email from: https://www.whois.com/whois/btcgpu.org BTG is, without a doubt, a complete scam.

Looks like they tried running several ICOs, one of them is even still active called sandcoin.org (which is obviously a scam too) Update 2: *

Premined: https://github.com/BTCGPU/BTCGPU/pull/2

    Unfinished pow implementation: https://github.com/BTCGPU/BTCGPU/pull/15

    Replay protection not implemented (You might lose your Bitcoins if you try to transfer or sell your airdropped Bitcoin gold be careful!): https://github.com/BTCGPU/BTCGPU/issues/18

    No change of difficulty algorithm implemented (they will compete with other GPU-mined coin for hashpower)

    No commits merged to main public repo in last 21 days

    Without the difficulty fix alone, this coin will crater rapidly.

Assuming it survives that, without replay protection, big exchanges won't list it, and wallets won't support it. The code is unfinished and in flux that no-one can seriously review it yet, and there's no commit for a testnet definition yet. (thanks to /u/StrawmanGatlingGun)

Update 1: In their Website-Snapshot from the github (https://github.com/BTCGPU/website) they stated that the fork snapshot already processed: "Bitcoin Gold (BTG) is a new proof-of-work cryptocurrency that will be hard forked from the Bitcoin blockchain on October 1 at block height 487427", which actually ended up being September 28th (https://blockchain.info/block-height/487427) partial info thanks to /u/rhuxx for the find.

As some of you may know, Bitcoingold is attempting to fork Bitcoin at the 25th of October. However in the past they decided they'll fork during the Bitcoincash date, both of which have ended up confusing me thus I've decided to do more research on the matter.

As I dug in deeper Bitcoingold started falling apart in front of my eyes losing all my trust in it. Here is what I've found.

First I read about this to get a better idea behind it: https://medium.com/@EthereumRussian/is-another-hardfork-going-to-kill-bitcoin-bitcoin-gold-e49b24ad8a9

The article mentioned there's been an ICO page, intrigued I decided to do a quick google search and found this 29 August bitcointalk thread that has more information regarding it: https://bitcointalk.org/index.php?topic=2046790.0

Along with the original Bitcoingold developer thread: https://bitcointalk.org/index.php?topic=2133536.0

It seems that they have possibly ran an ICO (Unsuccessfully most likely) but most certainly had premined the coin, thus I went to their website which at the time (9th of October) only ran a splash screen: http://btcgpu.org/ in an attempt to confirm my doubts.

This didn't lead me far, I needed to confirm those claims by myself, thus I went to the wayback machine (a wayback machine takes snapshots of websites so you can tell what changed in a website over time) and picked the August 31 date of the bitcoingold website. https://web.archive.org/web/20170831032225/http://btcgpu.org/

This confirmed the rumors, the website owners/original developers intended to run an ICO (which may or may not been successful) and also premined 16000 Blocks, worth at least 200,000 Bitcoin gold. The ICO price was supposedly 1 BTC = 10 BTG.

Since they are holding that information away from us and hiding it, this makes me believe that, bitcoingold is infact a scam and an attempt to milk the Crypto community out of their money, please don't fall into this scam and don't buy bitcoingold, dump it and let others know you can even do your own research with the Wayback machine I linked above or any time machine.

Regards, A fellow crypto investor

tl;dr BTG (Bitcoin gold is pre-mined 200,000+ BTG, and previously offered as an ICO, now they are trying to hide both of that information from us and telling people to dump their alts to get free "Bitcoin gold". the fork dates do not match, they specified different dates 3 times, once in their github page (1th october, and the block ended up being mined at 28th september) and a third time as 25th of october. all this combined information makes this me believe with no doubt that this is a scam in the making, and you should all dump your BTG as soon as you get it and never, ever buy BTG. also there is no replay protection, incomplete pow implementation, and no difficulity adjustment just the replay protection alone means you can lose your BTC by trying to sell/transfer your BTG, whois email associated domains shows complete scammy icos and domains registered under the email, this without a doubt they are 100% scammers.)




thanks for the info......:-)

[Orange Guy]

To early so be sure. We will have to see in the future what happens

[Vatimins]

I was reading some articles on Reddit regarding the upcoming Fork of BTC to create Bitcoin Gold or BTG. I stumbled upon one of the the post from Reddit user: EnviousArm
Reddit user link: https://www.reddit.com/user/EnviousArm

All the credits goes to Reddit user: EnviousArm as this user has done all the efforts and work. I am just trying to bring this to light for bitcointalk members. Thank you.

Link to the post: https://www.reddit.com/r/CryptoCurrency/comments/757jf4/here_is_why_bitcoingold_is_shady_and_a_scam_you/

Update 3: I've done a reverse whois lookup on their website, and found a ton of domains registered under the same email (not same IP) in their whois. the domains look super damn scammy by the way, you can check them out yourself here: https://i.imgur.com/HG31eie.png

And for the actual list if you don't wanna see a picture, here: http://viewdns.info/reversewhois/?q=xiangliao%40gmail.com

I got the email from: https://www.whois.com/whois/btcgpu.org BTG is, without a doubt, a complete scam.

Looks like they tried running several ICOs, one of them is even still active called sandcoin.org (which is obviously a scam too) Update 2: *

Premined: https://github.com/BTCGPU/BTCGPU/pull/2

    Unfinished pow implementation: https://github.com/BTCGPU/BTCGPU/pull/15

    Replay protection not implemented (You might lose your Bitcoins if you try to transfer or sell your airdropped Bitcoin gold be careful!): https://github.com/BTCGPU/BTCGPU/issues/18

    No change of difficulty algorithm implemented (they will compete with other GPU-mined coin for hashpower)

    No commits merged to main public repo in last 21 days

    Without the difficulty fix alone, this coin will crater rapidly.

Assuming it survives that, without replay protection, big exchanges won't list it, and wallets won't support it. The code is unfinished and in flux that no-one can seriously review it yet, and there's no commit for a testnet definition yet. (thanks to /u/StrawmanGatlingGun)

Update 1: In their Website-Snapshot from the github (https://github.com/BTCGPU/website) they stated that the fork snapshot already processed: "Bitcoin Gold (BTG) is a new proof-of-work cryptocurrency that will be hard forked from the Bitcoin blockchain on October 1 at block height 487427", which actually ended up being September 28th (https://blockchain.info/block-height/487427) partial info thanks to /u/rhuxx for the find.

As some of you may know, Bitcoingold is attempting to fork Bitcoin at the 25th of October. However in the past they decided they'll fork during the Bitcoincash date, both of which have ended up confusing me thus I've decided to do more research on the matter.

As I dug in deeper Bitcoingold started falling apart in front of my eyes losing all my trust in it. Here is what I've found.

First I read about this to get a better idea behind it: https://medium.com/@EthereumRussian/is-another-hardfork-going-to-kill-bitcoin-bitcoin-gold-e49b24ad8a9

The article mentioned there's been an ICO page, intrigued I decided to do a quick google search and found this 29 August bitcointalk thread that has more information regarding it: https://bitcointalk.org/index.php?topic=2046790.0

Along with the original Bitcoingold developer thread: https://bitcointalk.org/index.php?topic=2133536.0

It seems that they have possibly ran an ICO (Unsuccessfully most likely) but most certainly had premined the coin, thus I went to their website which at the time (9th of October) only ran a splash screen: http://btcgpu.org/ in an attempt to confirm my doubts.

This didn't lead me far, I needed to confirm those claims by myself, thus I went to the wayback machine (a wayback machine takes snapshots of websites so you can tell what changed in a website over time) and picked the August 31 date of the bitcoingold website. https://web.archive.org/web/20170831032225/http://btcgpu.org/

This confirmed the rumors, the website owners/original developers intended to run an ICO (which may or may not been successful) and also premined 16000 Blocks, worth at least 200,000 Bitcoin gold. The ICO price was supposedly 1 BTC = 10 BTG.

Since they are holding that information away from us and hiding it, this makes me believe that, bitcoingold is infact a scam and an attempt to milk the Crypto community out of their money, please don't fall into this scam and don't buy bitcoingold, dump it and let others know you can even do your own research with the Wayback machine I linked above or any time machine.

Regards, A fellow crypto investor

tl;dr BTG (Bitcoin gold is pre-mined 200,000+ BTG, and previously offered as an ICO, now they are trying to hide both of that information from us and telling people to dump their alts to get free "Bitcoin gold". the fork dates do not match, they specified different dates 3 times, once in their github page (1th october, and the block ended up being mined at 28th september) and a third time as 25th of october. all this combined information makes this me believe with no doubt that this is a scam in the making, and you should all dump your BTG as soon as you get it and never, ever buy BTG. also there is no replay protection, incomplete pow implementation, and no difficulity adjustment just the replay protection alone means you can lose your BTC by trying to sell/transfer your BTG, whois email associated domains shows complete scammy icos and domains registered under the email, this without a doubt they are 100% scammers.).

Well, I really am not the kind of person that judges people that easily, but with this one, looking at the things that you have stated/provided, I really am now having second thoughts about this project even more. I used to not think of this as a scam yet, and just thought that it is still trying to make progress but damn. You made it pretty clear with this one mate.

Thanks for sharing this great information with the community man. Great job.

[sunk818]

btg is supposed to use a new algorithm so sha256 hashing isn't controlled by a few groups in China.

So if we free btg because we have btc, can't we just sell btg for btc and be done with it? You just made some extra money for free and no risk? Seems like this will be a problem for the foreseeable future... let the market decide while newbies get confused...

[twofreckles]

There are many fishy things about it. I'm not here to judge.

However the idea speaks to me. I mean BTC indeed seems to be more centralized and controlled by big asics farms. Bitmain as a biggest of them all. Isn't it killing the initial idea of BTC being decentralized? Changing algorithm to asic resistant would solved it ?. IMO if thats a scam then something similar but legit have a great potential and great chances of success. 

[keyzersoze]

Response to the recent missinformation, from their Twitter page.

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

[Kumic]

obviously its a ascam... but the point is not this... the point is that even if most comunity agree with this... at the same time it sell alts for holding btc. this is the best way to ruin the prestige of btc: if we go on in this way, "we" could introduce a btc fork every couple of mouths... why not?? its the comunity that make real or fake some scam. if everybody (like me) wouldnt sell alts to have more btc just to pick up scam coin, they would stop to get in the marker such a fork. Comunity its a delusion one more time... like the fork in august... but its the reality.

Nice point. We had eBTC token and it was good for a quick cash even it has no value. If Bitcoin Gold has no value as a coin he will get some atention for sure.

[Mett33]

Bitcoin hard forks are incredibly damaging for the future of cryptocurrency. The issue is the FUD it spreads to those outside of cryptocurrencies when they hear about what is going on (how can value be created out of nothing). Imagine if USD had a hard fork, or GBP or EUR. It would be crazy.

This and the fact that many new users can get very confused and lose funds if they dont understand replay protection, private keys etc.

The WHOLE community has a duty to try and prevent these things from happening, if it keeps on going then the outside world will lose all faith in cryptocurrency and thats the end of the ride.

Agree with you!

Hard fork should be like eth is doing now, just improvement. Not every update make a new coin. If we continue like that will be 60-70 version of Bitcoin with same name in 10 year.

People will be really confuse.

[Leonbtc]

Dont know why but I have no good thoughts for Bitcoin Gold.

[fredforthewin]

We are still yet to determine if all cryptocurrancies are scams or not.

[subG]

Those selling off their altcoins just to receive some Bitcoin Gold after the fork will regret it.  I don't think Bitcoin Gold will be worth much.  It will be worth less than Bitcoin Cash and the price of Bitcoin will also probably drop some after the fork.  They will be losing out on much more money from the altcoins that they sold will rise back up again.