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Author Topic: Bitcoin Gold is Forking Off  (Read 947 times)
jaysabi
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October 23, 2017, 10:46:46 PM
 #1

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.


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squatz1
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October 24, 2017, 12:18:02 AM
 #2

I really hope that this crashes and burns, and if it doesn't people will learn a valuable lesson when they do see the 'devs' (if you want to call them that) of this shitty premined shitcoin that is only getting attention by people because it was after the big Bitcoin Cash fork, which actually had support of some people on these boards and in this community.

Let it die my brothers, let it die and this all will end.

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Yaunfitda
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October 24, 2017, 01:21:35 AM
 #3

Nice write up and thanks for the share. I hope a lot of newbies read this because their is really no point of supporting another clone coins. Bitcoin Cash failed, and this so called Bitcoin Gold would have no value at all. It will be dump hard after investors get their free coins. In just a month this coins will be forgotten, and those who believed that its better for holding will be in a very rude wake awakening soon. Don't fall for the trap.


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October 24, 2017, 01:40:49 AM
 #4

same as the Bitcoin cash this coin is also fanbased and price will only depend to a less number of people with some of them having most of the coin.
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October 24, 2017, 02:02:12 AM
 #5

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

I see, so this upcoming fork is one of those forks which have the purpose of self gain, and the developers are doing it by riding the fame of bitcoin, its saddening, because many people are wating for this fork since its announcement, and knowing that its purpose is just like as said above is just saddening. Its really nice to have read this post, thanks for the information.

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October 24, 2017, 02:09:13 AM
 #6

The ones supporting this hard fork are blind and deluded to think it will make any impact at all. If the developers actually premine, it's going to straight up end in the list of shitcoins with its value plummeting to the ground within weeks. The development team would be poised to dump the premined coins if at all they intend only doing this for their own profit which is seemingly the case at hand.


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pinkflower
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October 24, 2017, 02:30:07 AM
 #7

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

Are there exchanges listing BTG outright after the fork? The developers can dump all 100,000 BTG coins and hold them all in BTC and claim it as a fund for development, while the poor people who support and bought BTG will hold those useless coins and wait for the pump.

Thats life in cryptocurrency scams.




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October 24, 2017, 03:44:53 PM
 #8

I doubt that BCG would be worth anything a week after its release. What's troubling me is that all these constant forks could erode trust or further confuse people who are just starting to hear of bitcoins. I just hope this is not some underhanded move from the Chinese government.
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October 24, 2017, 03:46:25 PM
 #9

Yeah just make money out of it just like what they will do.
The faster the better. Monitor what will happen then save your damn bitcoins as fast as you can after the fork. Dont let it stay in an exchange for a long time.
Good thing there is someone like this who will remind everyone.

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October 24, 2017, 03:59:01 PM
 #10

I really hope that this crashes and burns, and if it doesn't people will learn a valuable lesson when they do see the 'devs' (if you want to call them that) of this shitty premined shitcoin that is only getting attention by people because it was after the big Bitcoin Cash fork, which actually had support of some people on these boards and in this community.

Let it die my brothers, let it die and this all will end.

Same sentiments here bro. I hope it crashes as soon as its been released. I find it really off and disturbing it offers no help at all just another nuisance.

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October 24, 2017, 04:26:47 PM
 #11

Like i ve been reding btg is under ddos attack,it is shity coin even code has been not released
Binance is trading btg at 0.46 price with very low volume
I also dont have good opinion about btg


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October 24, 2017, 04:48:50 PM
 #12

I think they will be doing the same thing that Ethereum founders has done. They pocket a few coins during the pre-mine and

they airdrop a few coins to shut people up. Yes, people want to go back to the idea that you can mine bitcoins with CPU/GPU's

and this ASIC resistance will give them a taste of that. This will also screw some Chinese miners who are heavily invested in

ASIC technologies. It is a feature rich fork, but the developers behind this is dodgy and unorganised.  Huh

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October 24, 2017, 05:08:45 PM
 #13

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

This article definitely describes the current situation and the warning for people who actually do support BTG: https://motherboard.vice.com/en_us/article/qv38ab/bitcoin-gold-website-ddos-after-bitcoin-fork

The issue that I have with BTG is that people created a bubble in bitcoin by buying because they thought they would just get loads of free money just for having bitcoin that they could dump and buy more bitcoin with. However, now, BTG is being dumped to oblivion and the price of bitcoin is going down too for those who are taking their money out.

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October 24, 2017, 05:14:58 PM
 #14

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

This article definitely describes the current situation and the warning for people who actually do support BTG: https://motherboard.vice.com/en_us/article/qv38ab/bitcoin-gold-website-ddos-after-bitcoin-fork

The issue that I have with BTG is that people created a bubble in bitcoin by buying because they thought they would just get loads of free money just for having bitcoin that they could dump and buy more bitcoin with. However, now, BTG is being dumped to oblivion and the price of bitcoin is going down too for those who are taking their money out.

Still many people are expecting the bitcoin gold trading and reward before the coin splitted from the bitcoin. If you have the bitcoin in the bitrex or other BTG supported wallet you will be able to get the reward for the bitcoin you saved.
BTG will decrease after it comes into the market like BCH's value decreased in the chart.

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October 24, 2017, 05:15:57 PM
 #15

Totally agree. An altcoin without reason of being, without important developments in the ecosystem and with a future nothing promising. As soon as I get the coins that correspond to me after the hardfork, I will look for the way to sell them at the best possible price, because this new altcoin is called to follow the same path of Bitcoin Cash and quickly lose its value.

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October 24, 2017, 05:46:44 PM
 #16

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

This article definitely describes the current situation and the warning for people who actually do support BTG: https://motherboard.vice.com/en_us/article/qv38ab/bitcoin-gold-website-ddos-after-bitcoin-fork

The issue that I have with BTG is that people created a bubble in bitcoin by buying because they thought they would just get loads of free money just for having bitcoin that they could dump and buy more bitcoin with. However, now, BTG is being dumped to oblivion and the price of bitcoin is going down too for those who are taking their money out.

I hadn't heard about this until you posted this article, and if you'll excuse the pun, this is GOLD. Even better that the DDOS is coming from China, which seems appropriate since the consortium of Bitcoin Gold developers is from China. It's an interesting to me that anyone forking off the bitcoin blockchain in the hopes of "saving it from itself" (as both bitcoin cash and bitcoin gold believe they are doing, BCH by increasing the block size and BCG by eliminating ASICs) would choose to do so in the most shady way possible (pre-mining and refusing to release the code publicly). Sadly, I don't even think that will doom the coin, because this market of sheep will latch on to anything that will turn them a profit, and if BCG can promise that, people will believe it and won't send it to the immediate death it deserves.


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October 24, 2017, 05:52:58 PM
 #17

Sadly this is the future, expect more forks and splits in the future driven by pure greed. If it is possible, you will find people that will take advantage. For every one person against this coin, there is another backing it - newbies will be attracted to it as it is being sold as a cheaper and better alternative to bitcoin. The more experienced folks will acquiesce eventually when the con inevitably starts doing well.
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October 25, 2017, 03:17:16 AM
 #18

Sadly this is the future, expect more forks and splits in the future driven by pure greed. If it is possible, you will find people that will take advantage. For every one person against this coin, there is another backing it - newbies will be attracted to it as it is being sold as a cheaper and better alternative to bitcoin. The more experienced folks will acquiesce eventually when the con inevitably starts doing well.

It will be the responsibility of the exchanges to warn their users about suspicious hard forks of BTC, from my perspective. Bittrex was good to issue the BTG rightfully for their users, but they have also issued a warning.

https://support.bittrex.com/hc/en-us/articles/115002320451-Statement-on-Bitcoin-Gold-BTG-

Bitcoin Gold does not currently have:

  • Fully formed consensus code
  • Implemented replay protection
  • Adequate code for testing and auditing
  • Publicly known code developers



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October 25, 2017, 03:29:20 AM
 #19

That is why that there must be no people to trust or invest in any kind of newly created coin because of Bitcoin's fork as it is only a copy cat of the original one and will serve no purpose at all but to only steal the fame of what Bitcoin already set to the whole world. If this statement of yours is really true then I am sure that this newly forked coin will be more worse than Bitcoin Cash.
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October 25, 2017, 03:39:17 AM
 #20

With the imminent release of bitcoin gold (another garbage, pointless coin) in the next 24 hours, it's a good time to remind everyone that the developers are shady. This is a China-miner lead fork, it serves no purpose other than the enrichment of the developers. According to Coinbase (https://support.coinbase.com/customer/en/portal/articles/2892196-bitcoin-gold-faq?b_id=13521), the developers are pre-mining 100,000 coins before releasing the code to the public. That's shady, garbage, self-enrichment behavior, and I hope this coin flames out because it's clearly designed to only enrich the developers. So essentially, after the fork happens, the only people mining will be the developers, and when they've determined they've made themselves rich enough, they'll release the code to the public while they probably dump their pre-mined coins.

Don't be one of the dummies buying.

Are there exchanges listing BTG outright after the fork? The developers can dump all 100,000 BTG coins and hold them all in BTC and claim it as a fund for development, while the poor people who support and bought BTG will hold those useless coins and wait for the pump.

Thats life in cryptocurrency scams.


Sad to say but i guess that is what are going to happen. I did't even read and heard any good potential about this forking, and yes it does only makes the developers much richer and poor got poorer. This is a trap that most people are not aware of, so hopefully it will just be gone if anything else happens.

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