Bitcoin Gold

What is Bitcoin Gold?

BTG stands as a cryptocurrency rooted in Bitcoin principles, crafted through the mining process utilizing standard GPUs rather than specialized ASICs.

While ASICs often concentrate mining power in the hands of a select few, GPU mining reintroduces inclusivity, allowing anyone to participate. This revival fosters decentralization and autonomy, as mining rewards via GPUs extend globally to individual miners. This approach contrasts with ASIC-dominated setups, where the majority of rewards flow to warehouse owners, ultimately revitalizing the network effects reminiscent of Bitcoin's earlier stages.

BTG enriches and expands the cryptocurrency landscape by introducing a blockchain closely aligned with Bitcoin, incorporating features such as SegWit and Lightning Network. It distinguishes itself by not relying on resources like Bitcoin hashpower and refrains from competing for the coveted "real Bitcoin" designation. The project is committed to establishing an inclusive environment for both new developers and emerging technologies, all rooted in the foundational principles of Bitcoin.

Functioning as a Friendly Fork, BTG provides a coin that is as straightforward and familiar to implement as Bitcoin while offering ample room for the integration of innovative concepts. This approach has cultivated a vibrant economy and ecosystem, showcasing the project's dedication to fostering growth and diversity within the cryptocurrency realm.

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Recent Video Interview

Main points of the interview:

• Bitcoin Gold is a decentralized cryptocurrency derived from Bitcoin, focusing on GPU mining and replay protection.
• Detailed explanation of 51% attacks, emphasizing their potential impact on Bitcoin Gold.
• Proposes notarization across multiple chains to enhance security against 51% attacks specific to Bitcoin Gold.
• Addresses concerns about mining rewards and pool dynamics within the Bitcoin Gold network.

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Mining with Bitcoin Gold

Individuals have the opportunity to engage in BTG mining utilizing easily accessible graphics cards. Bitcoin Gold adopts Equihash-BTG, alternatively recognized as Equihash(144,5) or Zhash. This particular variant of Equihash demands more memory than an ASIC can accommodate, yet it operates efficiently on numerous graphics cards, possibly even those present in one's existing computer system.

BTG Pay

BTGPay serves as a platform facilitating connections among merchants, services, and integrators to collaboratively develop solutions. Its primary focus is assisting consumers in discovering these solutions.

The program aims to guide users in identifying suitable BTG-based debit card services tailored to their needs and geographical locations.

It operates as a marketplace for merchants, streamlining the process for shoppers to find establishments that accept BTG while allowing sellers to showcase their acceptance of Bitcoin Gold.

Additionally, BTGPay establishes a network of partners, including solution providers, payment services, and eCommerce integrators, to simplify the integration of Bitcoin Gold acceptance for merchants.

As a recognizable brand, BTGPay ensures that consumers can easily identify establishments where Bitcoin Gold is accepted during their shopping experiences.

What is ElectrumG?

ElectrumG is a user-friendly and feature-packed wallet designed for Bitcoin Gold (BTG) users. This light-weight wallet offers a seamless experience, combining robust functionality with ease of use.

Being an SPV (Simplified Payment Verification) wallet, ElectrumG distinguishes itself by not requiring the storage of the entire blockchain. Instead, it efficiently manages just the headers, aligning with Satoshi Nakamoto's original vision. This streamlined approach ensures that users can enjoy the benefits of a full-featured wallet without the need for extensive storage space, making ElectrumG an ideal choice for those seeking a practical and efficient BTG wallet solution.

Bitcoin Gold Team Background

The Bitcoin Gold Organization comprises an international team of over 20 individuals with diverse backgrounds and skills. Initiated in the summer of 2017 by a group of six Co-Founders, strategic decisions are orchestrated by the Board, incorporating valuable input from both the Team and Advisors.

A few key figures within the organization include:

• H4X3ROTAB (China): Serving as the Lead Developer, Co-Founder, and a crucial member of the Board.
• Martin Kuvandzhiev (Bulgaria): Functioning as the Operations Lead, Co-Founder, and a crucial member of the Board.
• Franco Niebles (Colombia): Taking on the role of Lead Designer, Co-Founder, and a crucial member of the Board.
• Jack Liao (North America): Holding the position of Communications Director and a crucial member of the Board.

Bitcoin Gold Project Development

One of the last updates to Bitcoin Gold sees it constructing a lightweight BTG-Polkadot Bridge in collaboration with Phala Network, based on a Phala Bridge solution. This strategic partnership aims to facilitate cross-chain transactions between BTG and Phala, offering Bitcoin Gold access to advanced blockchain functionalities like smart contracts, DeFi protocols, on-chain governance, and the potential for connectivity with external blockchains such as Ethereum.

Bitcoin Gold Price Analysis

As of November 24 2024 Bitcoin Gold has a marketcap of $583M. This is {{percentagefromath}} from its all time high of $456.25. In terms of its tokenomics, there's a total supply of 21M with 83% currently outstanding. Keep in mind Bitcoin Gold has a fully diluted value of $698M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.