Dear Diary: Why Bitcoin Gold Is Good

Bitcoin we all know is made by mining it and at its early years only common computer hardware like the graphics card are only required for an individual to mine it with of course some software involved plus some technical skills, then a common hobbyist can mine such a valuable digital resource we call now as "Bitcoin."

Just a few people from its early years mine it so whenever a part of the miners shutdown maybe to sleep or rest their computers like most of us do, the difficulty then lowers because the network got chopped-off. It is how mining works. It has a check valve so that just a constant supplying of bitcoin is made.

But the race to mine bitcoin is also a factor so the fastest graphics card would be the one to discover blocks to process it and get the reward in return. Then came the more powerful and fast machines built for mining which is only its sole purpose and the graphics card were soon made obsolete because they can never catch up to the newer mining rigs.

That is the scenario that only a few industries or companies can mine bitcoin makes it centralized as opposed from its original intent to get decentralized so that no one can control it and most people can benefit by mining it in their homes.

Now Bitcoin Gold is the fork of Bitcoin that will supposedly to oppose such centralization threat to Bitcoin through oligarch-type of mining. Bitcoin Gold can be mined by a different algorithm with only a common powerful computer graphics card just like in the early days of bitcoin mining so that a more decentralized system will get realized more. Should be the golden goose for the common people.

Photo Credit: Pixabay