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Question: Amount of Bitcoin Gold credited
Bitcoin Gold - 0 (0%)
Bitcoin - 2 (100%)
Total Voters: 2

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EZRI
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October 20, 2017, 09:27:58 PM
 #1

Hello there,

The Bitcoin Gold is going to be launched on the 25th of October, and everyone says that if someone has some Bitcoins on a wallet, then the same amount will be credited in Bitcoin Gold. It was also the case with the Bitcoin Cash.
However, how do we need to understand this? I mean, when they say that the same amount will be credited, does it mean that if I hold the equivalent of 1,000 dollars in Bitcoin, that I will be given and credited this same amount of money in Bitcoin Gold when it will be launched?
Thanks in advance for your feedback
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Meruem
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October 20, 2017, 09:35:40 PM
 #2

Hello there,

The Bitcoin Gold is going to be launched on the 25th of October, and everyone says that if someone has some Bitcoins on a wallet, then the same amount will be credited in Bitcoin Gold. It was also the case with the Bitcoin Cash.
However, how do we need to understand this? I mean, when they say that the same amount will be credited, does it mean that if I hold the equivalent of 1,000 dollars in Bitcoin, that I will be given and credited this same amount of money in Bitcoin Gold when it will be launched?
Thanks in advance for your feedback

If I am not mistaken, first of all to gain free bitcoin gold you need to keep your bitcoins in the wallet, or exchange or anything else , but this services should mention before that they are going to support bitcoin gold. If not - you will not get them.
About the price. If you have 1 bitcoin you will get 1 bitcoin gold. But no one knows what would be price of new currency.

Youghoor
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October 20, 2017, 09:38:45 PM
 #3

If you are holding one thousand dollars worth of bitcoin it doesnt mean that you are gonna get another thousand dollars for free worth of bitcoin gold.
If you have 0.15 (aprox $1000) it means that you are going to get 1 bitcoingold, and nobody knows how much it will be worth, probably it will be worth $150 - $250 each bitcoingold.
If you receive 0.15 bitcoingold, it will only be worth $37,5 (if btg reachs $250 each one) maths are just the same as they were with bitcoincash.

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Josepht
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October 20, 2017, 09:41:20 PM
 #4

Don't see it as 'free money' given.

What happens is that the network is split. Most people will continue using the BTC part of the fork, and a small group of people will use the bitcoin cash/gold part of the chain.

If you have any bitcoins before the fork happens, you have that amount of bitcoins on both chains. If you don't want to use e.g. bitcoin gold, you can send them to an exchange, and trade them for BTC.
However, if you do that, and everyone suddenly decides to use bitcoin gold in stead of BTC, then your new aquired BTC are worth nothing, so it's not free money after all. It's money on both chains.

HostileJelly
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October 20, 2017, 09:42:51 PM
 #5

Indeed, you'll get 1 Bitcoin Gold for each Bitcoin you hold.
But... you can only get to them on addresses that you hold the private key to, and it's uncertain what 1 Bitcoin Gold will be worth.

I remember selling my Bitcoin Cash (also a hard fork) was a real pain (the process should be the same for Gold)... First, I needed to transfer my real Bitcoin to a different address, then find a client that supported BCH, load it up with the private key to the old address that still held the BCH (but not the BTC), then send it to an exchange so I could sell it, and then wait for those painfully slow first blocks of BCH to be mined. Blegh.

And I didn't even get to the best part... Thousands of people trying to find and download a Bitcoin Gold-compatible client they can load their private keys into is a cyber criminal's goldmine. Be wary of scammy clients and take all the necessary precautions and then some...
w5pn73
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October 20, 2017, 09:43:57 PM
 #6

If you are holding one thousand dollars worth of bitcoin it doesnt mean that you are gonna get another thousand dollars for free worth of bitcoin gold.
If you have 0.15 (aprox $1000) it means that you are going to get 1 bitcoingold, and nobody knows how much it will be worth, probably it will be worth $150 - $250 each bitcoingold.
If you receive 0.15 bitcoingold, it will only be worth $37,5 (if btg reachs $250 each one) maths are just the same as they were with bitcoincash.


If it really would be worth 250.
Then the guys who have premined /are already pre mining bitcoingold have already made around 2,5 million dollars, sounds great..for the dev team at least  Roll Eyes

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EZRI
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October 20, 2017, 09:44:36 PM
 #7

Okay. Thank you to all of you.
It's way clearer for me now, I understand better
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