Bitcoin GOLD

There’s another fork te the road coming up. Originally, Bitcoin forked into Bitcoin Core and Bitcoin Contant, two distinct currencies. This came spil a result of fears from an tremendous majority of miners that the old system of 1MB benefitted those who prioritized Bitcoin’s investment potential rather than spil a secure, anonymous transactional currency. There were a loterijlot of fears that this hard split inbetween Core and Specie could devalue Bitcoin spil a entire. While the market has bot recovering from those fears, there’s another funk rising overheen another upcoming fork, the creation of Bitcoin Gold.

Where it came from

Forks toebijten often te the world of Bitcoin, but understanding their origins is an significant choice for users to determine which side of the fence they’re going to sit on. The fork is primarily created by Jack Liao and lead developer H4x4, but has seen support from its inception by NO2x, a group of Core volgers, primarily due to the current system’s centralization with the majority of Bitcoins finding their way to the forearms of a puny group of miners. Thesis miners use more powerful, expensive ASIC computers to build up a near monopoly of Bitcoin’s mining power. Bitcoin Gold is primarily an reaction to the ASIC problem, using fresh security algorithms that will effectively shut down ASICs, putting miners on a more even playing field and decentralizing the currency.

Many libertarian-minded Bitcoin users will rejoice at the thought of a decentralized system. However, it’s not without its own risks. For one, the system has gone largely untested by miners, so it’s a hard fork ter true nature, with no-one knowing fairly how effective it will be except for the team working on it. There’s also no sign of an Emergency Difficulty Adjustment, meaning that per-block difficulty adjustment will be toughly the same spil Core, meaning there’s still potential for a dedicated group of miners to find other ways around difficulty exploits beyond ASIC computers.

Moving to Bitcoin Gold

If you’re on Bitcoin Core, using the block that Bitcoin Gold chooses, then you’re going to receive the same amount of BTG spil you have te BTC. From there, it’s a matter of watching the value movements of those coins. If they’re worth much less than BTC, there’s no danger ter holding onto them. However, if they prove to have some worth, you can either choose to stay with the fresh system or sell them to increase your stash of Bitcoin.

The fork is here

There’s no need for Bitcoin users to fear this hard fork and no reason for the same zuigeling of hysteria wij eyed with the very first hard fork to Bitcoin Metselspecie. It’s not going to affect the BTC core network te any way since they’re not enlargening Bitcoin’s supply, but simply moving part of it to suggest a little more decentralization.

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