Today we look at Bitcoin Gold (BTG) and explain why you shouldn’t hold your breath on it being the second coming of Satoshi Nakamoto.

Bitcoin Gold.

• Is a fork of bitcoin meant to allow GPU mining (mining with graphic cards like NVIDIA) and being ASIC resistant;

• Is a project coming from Jack Liao, founder of LightningASIC which manufactures mining equipment for mining Litecoin, Jack Liao has a Youtube channel which you can check out here.

Here’s Jack showing off its miners:

• The snapshop is supposed to happen on the 25th of October and the token airdrop on the 1rst of November although the exact details of how the tokens will be retrieved are still unknown.

Which brings me to the red flags and there are LOADS...

Red flags.

• Bitcoin gold is not scheduled to be listed on any exchange and might or might not end up being supported by LEDGER ;

UPDATE from LEDGER's CTO on Reddit:

We'll offer a split tool provided Bitcoin Gold launches and offers a usable replay protection mechanism - right now the project is not finished.

• The BTG ticker supposed to represent Bitcoin Gold is already taken by another crypto currency called BITGEM;

• The project’s official webpage is exactly just that… a single webpage without any text;

# crickets # # crickets # # crickets # # crickets #

• Even if the project successfully launches, GPU mining will only redirect centralization towards graphic cards producers like NVIDIA... so much for all this talk about decentralization.

Verdict

Bitcoin is probably another garbage altcoin trying to bank on the Bitcoin brandname, you can safely ignore it. Worst case scenario you’ll get some free coins which you can happily convert into something more valuable or keep as a souvenir to show your grandkids.

HOWEVER I would be very cautious if Bitcoin Gold starts asking people to register any private info either directly on their webpage or in a custom wallet, if this happens, this could take the project from being a joke to being a scam and you should proceed with caution.

As always, follow, re-steem and upvote if you like what you see

#cryptocurrency #bitcoin #ethereum #steem

Dan @tradealert