💰 Bitcoin Gold Future Looks UncertainsteemCreated with Sketch.

in cryptocurrency •  last month

bitcoin-gold.jpg

All the rage going on right now is gearing up to a hard fork which would create a new crypto called bitcoin gold. After what we saw with bitcoin cash a few months ago many are jumping on board in hopes to get free crypto (bitcoin gold) when this fork happens. But is this really want is going to happen? Lets take a deep dive into whats going to go down in t minus 3 days.

New Mining Algorithm

Unlike bitcoin cash hard fork which was directly from the block chain bitcoin gold will be using GPU and an entirly new algorithm then what bitcoin currently uses. This already splits the coin off in a way that no other hard fork has happened. This wont be an easy transition as asic miners output a much higher hash rate then GPUs.

Futures Paint A Picture

Futures can be traded now for bitcoin gold and right now they are estimated at 0.045 to 0.0718 BTC which is roughly $265 to $423 per bitcoin gold. It is expected for bitcoin gold to be the lesser of the bitcoin forks as the support behind it is rather low compared to what we saw with bitcoin cash.

None the less though this is the crypto world and predictions while they try to be educated smart guesses they are impossible to predict. Personally for me I like the name bitcoin GOLD over CASH as it just has a better vibe to it but in terms of the currency it looks pretty dead and wont show very much support in the long run.


steemit-sig-final.gif

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  trending

I can’t believe there’s going to be another bitcoin fork crazy, cheers mike

·

Most likely there will be more by end of year and 2018 as they are called air drops. ICOs are out because of government and these forks or airdrops are now a loop hole for now.

·
·

I must admit to not fully understand all of this, but thank you for your reply cheers mike

I've mentioned this in some other comments sections. I am starting to think that these Bitcoin forks are nothing more then a way for the big Bitcoin players to raise massive amounts of cash without giving up their core positions in Bitcoin. They have a problem that they want to live like millionaires but if they sell their Bitcoin they are sacrificing huge future profits. So what do you do?

As for Bitcoin Cash it looks like just another crappy Altcoin to me. I see no compelling reason to invest in it (other then hype) over other already established coins which have better technology already.

The original Bitcoin fork is called Litecoin and it is highly undervalued relative to Bitcoin in my opinion.

·

They are ICOs are out and Airdrops are in which are these hard forks

Calling @originalworks :)
img credz: pixabay.com
Nice, you got a 52.0% @stackin upgoat, thanks to @bitcoinflood
Want a boost? Minnowbooster's got your back!

·

The @OriginalWorks bot has determined this post by @bitcoinflood to be original material and upvoted it!

ezgif.com-resize.gif

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!

Yeah, Bitcoin Gold sound much metter than Bitcoin Cash. And indeed there will be great changes, but I am curious how much value it will gain, and which will become the next Bitcoin!

@bitcoinflood you hit the nail on the head with "None the less though this is the crypto world and predictions while they try to be educated smart guesses they are impossible to predict."

Brace yourself for volatility, Bitcoin will come out on top eventually...

Let me know your thoughts on my latest episode of Crypto Nights (you can find it on my blog) in which we discuss Tom Lee's valuation of Bitcoin using Metcalfe's law.

Upvoted and followed.

Alex

This is certainly a risk for guys putting in so much money they can't afford to lose because they think they can double their investment once the fork take place.

Anyways, let's keep our finger crossed and watch the aftermath

Free money for me, but Bitcoin Gold always sounded like a pump and dump scenario to me. I am glad I sold my Bitcoin Cash @ 0.072. will sell off my gold within 6 months, I guess.

·

I think they all well be pump and dumps just like every ICO really. They are the same blockchain just a new name with a butt load of free coins for everyone now is the time to hold your bitcoin though!

wow
very nice your post

This post has received a 1.73 % upvote from @booster thanks to: @bitcoinflood.

This post has received a 1.57 % upvote from @buildawhale thanks to: @bitcoinflood. Send at least 0.50 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.

To support our daily curation initiative, please vote on my owner, @themarkymark, as a Steem Witness

Anyone math inclined could share the light on the mining difficulty level? Coz just looking at the future prices, Gold is unexpectedly low. Of course, I assume that some correlation to BTC, which seems likely.

·

Gold will be GPU intensive while bitcoin is ACIS so entirely different level of mining is going to happen with it. That being said mining difficultly does nothing in terms of the price its just how bad people want it mining wise. Rarely is there a case of profitable mining unless your electric is free.

·
·

Thank you for reply, I was just trying to establish parallels with bitCash, if I recall correctly futures were also trading around $300 prefork and then on fork there was repricing upwards. Of course it was on the back of mining pools support (which is a major unknown in Gold case), but if it is GPU intensive, that means that it is not deflationary (at the protocol level) (at the protocol level), which in turns means that the correlation to BTC should not weaken (in worst case) and (in best case) be strengthened leading to BTC gold upward price revaluation. Hence my assertion that the Gold at $300 might be "cheap".

This wonderful post has received a bellyrub 4.60 % upvote from @bellyrub thanks to this cool cat: @bitcoinflood. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.

Congratulations @bitcoinflood! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published a post every day of the week

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Followed and upvoted. Now, 1 question. Where did you find your "follow comment upvote" gif?

I don't understand the name at all. The first time I heard it, I thought there was some kind of peg between Bitcoin and physical gold.

Am I right that Gold in this case really has no connection with physical gold?