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Question: Bitcoin Gold BTG a scam ?
Scam - 23 (59%)
Genuine - 12 (30.8%)
Cant say - 4 (10.3%)
Total Voters: 39

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Author Topic: Bitcoin Gold , A scam ? Please Help & Please Vote for the Poll  (Read 1033 times)
Sarveshjagga
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November 16, 2017, 06:50:01 PM
 #41

never buy these forks

dump out and get into something that is going up instead of down.

you can easy recover your loss but you need to find the worthy projects.

asking btc whales to pump it to save you a couple of k is more than unrealistic imho. 

Although a pump is not out of the question i mean you have btc whales with bags of this crap for free so if they can pump and sell it off to people that really have rocks in their head they will do so.

perhaps you will get one pump and one chance to dump... dont miss it.



I am absolutely geared up for this and also analysing the chart very deeply. i can predict somehow if the pump happens. lets wait and watch. Hope i get my money back. After this  i am not gonna invest before a detailed study on the coin.
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November 16, 2017, 06:57:00 PM
 #42

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

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November 16, 2017, 08:03:06 PM
Last edit: November 16, 2017, 08:18:32 PM by aliashraf
 #43

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

Nop! Nothing is shady. Satoshi is anonymous, don't pay attention to guys here. It is open source, actually btg is unique (as far as I'm aware) in having a pool software open sourced! And guess what? The devs have put some codes there to get a 0.005 share which can be removed by means of few minutes, and yet yellow media plus some ignorant users are saying it is some kind of a scam!

It is not, how can an open-source project be a scam after all?

I admit, devs privately mined some 200K coins or so (I suppose) so what? It means people (legacy bitcoin owners) have %99.9 of the coins and there is absolutely no pump and dump threat unlike most of the altcoins. I think other than their obvious interests, devs have chosen this strategy to stabilize the difficulty and other issues.

On the other hand, the core idea, getting rid of ASICs, is very promising and important. Any honest crypto advocate (i.e. no bitcoin enthusiast) should agree that ASIC is a crack against cryptography, it has always been a crack, the only crack against crypto. Satoshi made a mistake by choosing an algorithm with a small memory footprint that a neob could predict its future: being 'ASICed'! And now look at bitcoin, it is dominated by Bitmain and Chinese giant farms and is far from a truly decentralized ecosystem.

I am strongly supporting the idea of throwing away bitcoin's vulnerable, useless hashing algorithm and if bitcoin gold do not succeed because of its developers mistakes or anything, I think we have to retry this experience by another fork attempt in the right direction.
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November 16, 2017, 08:12:32 PM
 #44

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

Nop! Nothing is shady. Satoshi is anonymous, don't pay attention to guys here. It is open source, actually btg is unique (as far as I'm aware) in having a pool software open sourced! And guess what? The devs have put some codes there to get a 0.005 share which can be removed by means of few minutes, and yet yellow media plus some ignorant users are saying it is some kind of a scam!

It is not, how can an open-source project be a scam after all?

I admit, devs privately mined some 200K coins or so (I suppose) so what? It means people (legacy bitcoin owners) have %99.9 of the coins and there is absolutely no pump and dump threat unlike most of the altcoins. I think other than their obvious interests, devs have chosen this strategy to stabilize the difficulty and other issues.

On the other hand, the core idea, getting rid of ASICS, is very promising and important. Any honest crypto advocate (i.e. no bitcoin enthusiast) should agree that ASIC is a crack against cryptography, it has always been a crack, the only crack against crypto. Satoshi made a mistake by choosing an algorithm with a small memory footprint that a neob could predict its future: being 'ASICed'! And now look at bitcoin, it is dominated by Bitmain and Chinese giant farms and is far from a truly decentralized ecosystem.

I am strongly supporting the idea of throwing away bitcoin's vulnerable, useless hashing algorithm and if bitcoin gold do not succeed because of its developers mistakes or anything, I think we have to retry this experience by another fork attempt in the right direction.


Wow , that was lovely. But I still dont understand after having all the idea and experience how can bitcoin gold developers can take it so easy ? I am sure they must be working like anything but weren't they aware for the floods coming their way. It seems foolish that bitcoin gold developers have not even given a positive update till now.
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November 16, 2017, 08:29:24 PM
 #45

After his release, he did not like the audience. I think he has no future. I wouldn't invest money in it.

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November 16, 2017, 09:07:06 PM
 #46

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

Nop! Nothing is shady. Satoshi is anonymous, don't pay attention to guys here. It is open source, actually btg is unique (as far as I'm aware) in having a pool software open sourced! And guess what? The devs have put some codes there to get a 0.005 share which can be removed by means of few minutes, and yet yellow media plus some ignorant users are saying it is some kind of a scam!

It is not, how can an open-source project be a scam after all?

I admit, devs privately mined some 200K coins or so (I suppose) so what? It means people (legacy bitcoin owners) have %99.9 of the coins and there is absolutely no pump and dump threat unlike most of the altcoins. I think other than their obvious interests, devs have chosen this strategy to stabilize the difficulty and other issues.

On the other hand, the core idea, getting rid of ASICs, is very promising and important. Any honest crypto advocate (i.e. no bitcoin enthusiast) should agree that ASIC is a crack against cryptography, it has always been a crack, the only crack against crypto. Satoshi made a mistake by choosing an algorithm with a small memory footprint that a neob could predict its future: being 'ASICed'! And now look at bitcoin, it is dominated by Bitmain and Chinese giant farms and is far from a truly decentralized ecosystem.

I am strongly supporting the idea of throwing away bitcoin's vulnerable, useless hashing algorithm and if bitcoin gold do not succeed because of its developers mistakes or anything, I think we have to retry this experience by another fork attempt in the right direction.


I was thinking along the same lines. I think it will come in the future, but I doubt this particular crew is going to pull it off.
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November 16, 2017, 09:23:26 PM
 #47

Hello Everyone, i have recently invested in bitcoin gold when price was 400 dollar and was rising. So i thought of giving the shot  but since then the price is dumping like anything.

I was reading through twitter and facebook. Many people claiming it to be scam. I really would like to know from people whether its really a scam ? If i would move out now i may still save some dollar.

You bought into the hype. That usually ends in tears. Part of the reason that the price has dumped is that the launch was rocky and the fundamentals aren't great. The coin doesn't have much going for it besides potentially tapping part of BTC's network and using its name.

The other thing is that BTC has turned bullish in the last several days, and it's already approaching the all-time highs again. Under these conditions, it seems the forks (Bitcoin Gold and Bitcoin Cash) suffer. There seems to be a negative correlation right now.


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November 16, 2017, 10:26:18 PM
 #48

Scam? I don't think so. It is just a useless token.

Regulations need to be introduced to crypto right away. It is unbelieavable that 5 people can just choose to fork BTC, premine it before and dump it on everyone else. Not to mention how markets are going down before the fork.

Anyway, as soon as these forked coins become worthless like BTG is about to, people will stop buying BTC before the forks and markets won't crash so hard.
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November 16, 2017, 10:40:00 PM
 #49

Hello Everyone, i have recently invested in bitcoin gold when price was 400 dollar and was rising. So i thought of giving the shot  but since then the price is dumping like anything.
Welcome to the alt coin world and expect these kind of movements in the price and the volatility will be really high as most people will be dumping their coins and so is the reason the market crashed,hopefully it will recover at a later time,till then hold on to your coins.




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November 16, 2017, 10:45:45 PM
 #50

I have been reading the MyBTGWallet has been stealing BTC from peoples private keys. Including the premine, this operation is shady.
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November 16, 2017, 11:10:26 PM
 #51

I have been reading the MyBTGWallet has been stealing BTC from peoples private keys. Including the premine, this operation is shady.
It's also happening with the bitcoin cash fork, some people are trying to claim their bitcoin cash got stolen, their bitcoin was disappearing from their wallet.
I think that someone try to put another code into the wallet. The bitcoin will be sent automatically after you are claiming your bitcoin gold. That's such a big scam.
They are not losing little amount. Big with the latest rate of the bitcoin and that's so big.

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November 16, 2017, 11:14:42 PM
 #52

I think the second child from Bitcoin will be the same as Bitcoin Cash. This is because both have a similar starting price. Clearly, these two coins are held by Big Holders. Whales roam that control the price.
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November 16, 2017, 11:29:29 PM
 #53

I guess we should lauch private key 2FA soft fork now, some way to double check and double authenticate the use of private key otherwise this kind of scam will go on for more

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November 17, 2017, 12:27:43 AM
 #54

It's legit. Only problem is, that nobody seems to support it. Which is a shame, since I got them during a hard fork.  Grin

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November 17, 2017, 12:34:33 AM
 #55

too many red flags i think.. just fast money making fork thats all
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November 17, 2017, 12:37:15 AM
 #56

Hello Everyone, i have recently invested in bitcoin gold when price was 400 dollar and was rising. So i thought of giving the shot  but since then the price is dumping like anything.

I was reading through twitter and facebook. Many people claiming it to be scam. I really would like to know from people whether its really a scam ? If i would move out now i may still save some dollar.

You mean you bought it? That was pretty stupid in my opinion but I doubt you actually bought any. Anyone who does even a simple google search can find pages of posts showing it is a scam. If you did buy it then your going to get dumped on and you deserve it for being stupid.

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November 17, 2017, 12:41:57 AM
 #57

The only scams here are the pump and dump schemes which are performed every time a new coin is created, to exploit the expectations of the first enthusiasts.

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November 17, 2017, 08:30:38 AM
 #58

To be honest I will wait for a month or even few months before I will use bitcoin gold. I feel like there is something shady behind the project, some devs are anonymous and that brings my concerns

Nop! Nothing is shady. Satoshi is anonymous, don't pay attention to guys here. It is open source, actually btg is unique (as far as I'm aware) in having a pool software open sourced! And guess what? The devs have put some codes there to get a 0.005 share which can be removed by means of few minutes, and yet yellow media plus some ignorant users are saying it is some kind of a scam!

It is not, how can an open-source project be a scam after all?

I admit, devs privately mined some 200K coins or so (I suppose) so what? It means people (legacy bitcoin owners) have %99.9 of the coins and there is absolutely no pump and dump threat unlike most of the altcoins. I think other than their obvious interests, devs have chosen this strategy to stabilize the difficulty and other issues.

On the other hand, the core idea, getting rid of ASICs, is very promising and important. Any honest crypto advocate (i.e. no bitcoin enthusiast) should agree that ASIC is a crack against cryptography, it has always been a crack, the only crack against crypto. Satoshi made a mistake by choosing an algorithm with a small memory footprint that a neob could predict its future: being 'ASICed'! And now look at bitcoin, it is dominated by Bitmain and Chinese giant farms and is far from a truly decentralized ecosystem.

I am strongly supporting the idea of throwing away bitcoin's vulnerable, useless hashing algorithm and if bitcoin gold do not succeed because of its developers mistakes or anything, I think we have to retry this experience by another fork attempt in the right direction.


I was thinking along the same lines. I think it will come in the future, but I doubt this particular crew is going to pull it off.

Talking about the future, it is what we make, imo, so, if you are really in the same lines, you should take your part and do something about it. As of my plan, I'm just following this one, btg (as well as bcc+), learning and planning more.

For now I think we should give more both time and space to btg team but I have already been convinced that they won't accomplish their mission mainly because of one important point they have missed: It is not a simple technical problem to be solved by a handful of programmers, it is about money for the god sake! Tens of billions of dollars are in the stake and the stakeholders are ones who live in the limits, on the edges( of everything, technology, law, morality, ... ), they are reckless, ambitious, cruel and aggressive.

Look at this hype about a few lines of codes in a bonus open-source pool software, which can simply be commented out or tons of articles and comments about 0.01 percent privately mined  coins. It is not just a misunderstanding or a public paranoia, it is a systematic attack against btg  managed by people who are benefiting from the current situation in the crypto ecosystem. BTG guys obviously where not ready for this flood and they are failing because of it. They need more sympathy and support from the community but if they supposedly fail, the strategy, improving bitcoin by making it ASIC resistant, is not what we should point our fingers toward to blame, it is about business and organisation.

Some immature perceptions of mine:
1- As I remember, @GMaxwell recently has admitted the possibility of this improvement, I think there are other prominent figures ready for committing to the idea, before the kick start, btg team,  should have convinced  them to become more active and supportive.

2- I don't know, but 200K coin was too much for a confident project team. I mean if they were sure enough they didn't need that much of reward. Actually I'm against such tactics for this special case, forking btc. It prepares ground for scam accusations and a lot of enemies are waiting to play in such a ground.
 
3- Open source pool software was a brilliant idea that ruined by the dev fee lines in the code, but without that flaw it was not enough, anyway. They should have come with more.

4- Media coverage was poor, mainstream was against btg.

5-Personally I think choosing Equihash was not a wise decision, instead I prefer a mild improvement in SHA2 by adding a DAG navigation step in each cycle, this way we can reuse current wallets and other pieces of codes in the btc ecosystem by a few lines of hack. I prefer hacking to rewriting or reassembling.

So if this one fails the second attempt should be carefully planned and executed with no pre/private mining, more tools and features and probably a more smart algorithm hacking strategy and most importantly, more community/celebrity support.
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November 17, 2017, 08:40:32 AM
 #59

Good comments aliasshraf.

I find it wonderful that anyone can fork it and we get a good look of what works and what does not.
Shady designs will be ousted by the market.

We are watching a CryptoDarwinist show on steroids.
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November 18, 2017, 07:23:35 PM
Last edit: November 19, 2017, 03:48:00 AM by aliashraf
 #60

Good comments aliasshraf.

I find it wonderful that anyone can fork it and we get a good look of what works and what does not.
Shady designs will be ousted by the market.

We are watching a CryptoDarwinist show on steroids.
Thanks.  Smiley

Darwinism is about survival based on fitness but when it comes to artificial (human/society made) ecosystems everything goes chaotic and mostly unjustifiable and even irrational.

For instance almost every newly invented altcoin is superior to bitcoin (it should be, otherwise what is the point of creating an altcoin after all?). Yet btc is dominant. Why? because of power and enthusiasm. This is why I believe Bitcoin currently is in a  dead end situation as long as we are talking about technical evolution.

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