Bitcoin Gold will be the new coin that will result from the hardfork of bitcoin on 25/10/2017, this coin will be listed on exchanges services on 01/11/2017, this coin have an objective that aims to mine Crypto currency using GPU and also to get bitcoin back to the decentralisation .

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Because at this time small miners can’t mine bitcoin because huge company like bitmain and genesis have the control on the hashrates of bitcoin because they own huge for mining bitcoin , it is not equitable , for this reason this coin was created, if you hold Bitcoin on 25/10/2017 you will get Bitcoin Gold .

There could be as many as four cryptocurrencies bearing the bitcoin name if a small group of miners and developers carry out a planned fork of the blockchain this month.

Styled as a rebellion of sorts, bitcoin gold aims to follow a similar launch plan as bitcoin cash – the blockchain that split from bitcoin this summer by way of a « hard fork. » The idea of the project is to release an improved protocol, one that will challenge bitcoin cash in particular, and details are now starting to come come into focus.

Led by Jack Liao, CEO of Hong Kong mining firm LightningASIC, bitcoin gold is slated to launch on October 25, with its cryptocurrency being opened to exchanges on November

For one, bitcoin gold looks like it could be even smaller that bitcoin cash, at least in that not as many miners seem to support it.

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In remarks, BTC.Top founder Jiang Zhuoer and ViaBTC CEO Haipo Yang – two early champions of bitcoin cash – went so far as to downplay bitcoin gold as insignificant.

But while those in the know might be skeptical of bitcoin gold, it does have a goal that many in the community may find attractive: creating a truly decentralized bitcoin.

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Most notably, the developers behind the network hope to open up mining to more participants by replacing bitcoin’s mining algorithm with one that will enable it to be mined with graphics cards.

« Bitcoin gold will implement a proof-of-work change from bitcoin’s SHA256 to Equihash, a memory-hard algorithm that is ASIC-resistant and optimized for GPU mining, » explained pseudonymous bitcoin gold developer « The Sorrow. »

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That the plan is being hatched in China, long the hotbed of bitcoin mining, only adds another layer to the story. Liao, whose mining hardware largely focuses on the litecoin network, is seen as one of the few voices domestically that can challenge the established order.

Yet, Liao was quick to name one mining firm in particular, Bitmain, as the reason that more bitcoin users should support the idea. A mining company that has been at the center of bitcoin drama over the last year, critics have long argued that the firm has too much of an influence over the network.

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Still, creating a network that grows so popular as to remove miners is easier said than done, and some are skeptical that this would lead to the end goal that bitcoin gold advocates desire.

« GPU mining can’t prevent centralization. GPU [markets] are controlled by Nvidia and AMD, » Zhao Dong, a cryptocurrency trader and investor, argued in response to the plan.

One thing is clear though about the funding: because of the nature of the split, every bitcoin user at the time will have an equal amount of bitcoin gold associated with their private key.

« It is a minimalist fork of the Bitcoin Core codebase in the spirit of litecoin – only a few conservative modifications, » .

He said:

« Organisms derive benefits from creating offspring. With bitcoin gold we are conducting an experiment to see if that principle holds true in the world of blockchains. »

And this sentiment is largely in line with developers who have predicted that more bitcoin forks similar to bitcoin cash will come forth in the future.

After bitcoin cash forked earlier this summer, for example, Lightning Network developer Tadge Dryja argued that more forks would spring up, but for another reason: money.

With bitcoin gold in the works and another hard fork slated for Novembre , it seems that prediction is slowly becoming reality.

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