Cryptos Land: Bitcoin Forked Completed As Bitcoin Gold Is Born

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Tuesday, 24 October 2017

Bitcoin Forked Completed As Bitcoin Gold Is Born

The Bitcoin forked happened as was planned without causing much disturbance to Blockchain. However, only few exchanges and services are showing support for Bitcoin Gold because of its unknown developers and pre mined blocks. It is estimated that developers have premined about 9000 Blocks of Bitcoin Gold and will dump it in open market.

The known wallets and exchanges supporting Bitcoin Gold is OKEx, HitBTC, Bittrex, Yobit and Freewallet. HitBTC even started a future market on its exchanges where it was being traded at $1056 at the time of writing this post.

The investors and service providers are skeptical about this new coin unlike Bitcoin Cash which was born from another Hard fork back in August. Even an exchange named BitMex regarded it as a shitcoin and told traders to sell it as early as possible.

It is believed that Bitcoin gold developers will be operating the new blockchain in isolation before making it public on November 1, All the blocks mined during this time will be used by the development team.

The central idea behind Bitcoin gold was to tackle the increasing rise of decentralization of mining companies and to enable even low ranged Graphic card to mine Bitcoin because in these days Bitcoin mining is solely dependent on expensive application-specific integrated circuits (ASICs)
Bitcoin Hard Fork Split

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