Bitcoin Gold Sets Sunday Date for Cryptocurrency Release

[XECTRA (CRYPTO COIN)]

Bitcoin gold is set to go live this weekend.

In a new blog post, the developers behind the fork of the bitcoin blockchain said that they would release a formal software client for download at 7:00 PM UTC on Nov. 12. Originally set for a public launch on Nov. 1, the project is backed by LightningASIC, a seller of mining hardware based in Hong Kong, as well as a community of relatively unknown developers.

As reported by CoinDesk, the idea behind bitcoin gold is to keep most properties of the protocol, but restrict the use of specialized chips for mining, or the process by which new transactions are added to a blockchain (while also creating new tokens as a reward).

It's also the latest example of a "airdropped" cryptocurrency that will distribute new coins to anyone who owned bitcoin at the time of the split, or up until the date the ledger of transactions started to differ.

Yet in a move criticized by some observers, the team behind bitcoin gold has been mining blocks in insolation since the new network was formally created last month, with a certain amount of coins being set aside to support development.

In comments, the team behind the effort sought to send a signal of confidence to the market, perhaps owing to concerns circulating around the effort.

"We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time," the project's backers said in a statement.

In the days ahead, exchanges will no doubt be watching the launch. Soon after its August release, bitcoin cash, another cryptocurrency that forked the bitcoin network, amassed a nearly $4 billion market value.

Exchanges and traders will no doubt be watching to see if history repeats.

[Herbert2020]

Yet in a move criticized by some observers, the team behind bitcoin gold has been mining blocks in insolation since the new network was formally created last month, with a certain amount of coins being set aside to support development.

that "certain amount" is 16,000 blocks or exactly 200,000 bitcoin gold tokens which is the planned premine amount. and that is the biggest downside to this fork.
this fork could have been an interesting one if they didn't have such a huge premine (which automatically makes it a shitcoin) and also if they started from block 0 instead of building on top of 160 GB blockchain of bitcoin.

[fanbeila]

Earlier,they said that they want to make bitcoin decentralization true by changing the mining algorithm so that BTG coins could be mined even with GPU systems.This huge delay in releasing the official wallet and now the criticism that they have premined the coin more has made every one clear of their motto that all groups which do hard forks do not do it for the progress of bitcoin and they do it only for their benefits.Same is the case with BCH which was mainly supported by Roger ver and Jihan wu.

[mpufatzis]

Where is the official wallet?
I only see 3 Android Apps.

Earlier,they said that they want to make bitcoin decentralization true by changing the mining algorithm so that BTG coins could be mined even with GPU systems.This huge delay in releasing the official wallet and now the criticism that they have premined the coin more has made every one clear of their motto that all groups which do hard forks do not do it for the progress of bitcoin and they do it only for their benefits.Same is the case with BCH which was mainly supported by Roger ver and Jihan wu.

[squatz1]

Yet in a move criticized by some observers, the team behind bitcoin gold has been mining blocks in insolation since the new network was formally created last month, with a certain amount of coins being set aside to support development.

that "certain amount" is 16,000 blocks or exactly 200,000 bitcoin gold tokens which is the planned premine amount. and that is the biggest downside to this fork.
this fork could have been an interesting one if they didn't have such a huge premine (which automatically makes it a shitcoin) and also if they started from block 0 instead of building on top of 160 GB blockchain of bitcoin.

Gosh I knew they'd have some sort of premine startoff, would it make sense for them to do it without this. As they'd be making no MORE money then what they have in BTC.

But this isn't even going to amount to anything now, they're being outshined by 2x even though that's MOST DEFINITELY not going to happen (as I've said in another thread) So I'm kinda just sitting here waiting for all of this BS to die down so people can focus on Bitcoin getting spread to normal people and businesses, hope to see the day where I can actually spend my Bitcoins and altcoins.

[asdalani]

Bitcoin gold is set to go live this weekend.

In a new blog post, the developers behind the fork of the bitcoin blockchain said that they would release a formal software client for download at 7:00 PM UTC on Nov. 12. Originally set for a public launch on Nov. 1, the project is backed by LightningASIC, a seller of mining hardware based in Hong Kong, as well as a community of relatively unknown developers.

As reported by CoinDesk, the idea behind bitcoin gold is to keep most properties of the protocol, but restrict the use of specialized chips for mining, or the process by which new transactions are added to a blockchain (while also creating new tokens as a reward).

It's also the latest example of a "airdropped" cryptocurrency that will distribute new coins to anyone who owned bitcoin at the time of the split, or up until the date the ledger of transactions started to differ.

Yet in a move criticized by some observers, the team behind bitcoin gold has been mining blocks in insolation since the new network was formally created last month, with a certain amount of coins being set aside to support development.

In comments, the team behind the effort sought to send a signal of confidence to the market, perhaps owing to concerns circulating around the effort.

"We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time," the project's backers said in a statement.

In the days ahead, exchanges will no doubt be watching the launch. Soon after its August release, bitcoin cash, another cryptocurrency that forked the bitcoin network, amassed a nearly $4 billion market value.

Exchanges and traders will no doubt be watching to see if history repeats.

I am happy that Bitcoin Gold is already released so there should be a lot of people wanting it. I am trying to store the coins as long as I possibly can.