What is Bitcoin Gold (Bitcoin Gold) in simple words: history, rate and how to buy

With the progress of the cryptocurrency market, the demand for the most popular coins is actively growing. Mining conditions change, the cost and exchange rate increase. Many cryptocurrency platforms are becoming inaccessible to the average user. In order to mine crypto, you need to have expensive equipment, which, unfortunately, not everyone can afford. Bitcoin Gold was a real breakthrough in this regard. The developers created a cryptocurrency similar to Bitcoin, but with fundamental differences, the main one being a new operating protocol. According to him, anyone can mine Gold. The main condition for this is the presence of an appropriate video card. There are no other requirements for the technical characteristics of the computer.

What is Bitcoin Gold (BTG)

To understand what Bitcoin Gold is, you need to delve into the theory. Bitcoin Gold is probably the most decentralized cryptocurrency among all known. Its creator is Jack Liao. For a long time he was engaged in supplying mining equipment. BTG strives to become the best representative of digital gold. And the developer even came up with a method that will make this possible. He attempted to resolve the problem of mining centralization. Make it possible. If you change the algorithms for proving the work done. To do this, Bitcoin Gold uses hashing algorithms. They are optimized for mining with graphics cards. Thus, the miner can use a GPU instead of the usual ASIC, which significantly expands the circle of those who can mine Bitcoin Gold. The developers are confident that this will allow for maximum decentralization and will also reduce the unconditional influence of the largest companies on crypto mining.

Yes, the developers are optimistic and are doing everything possible to bring their wildest ideas to life. But each coin has two medals. There are critics who do not believe that such a scheme will be successful and will help achieve global decentralization, because the graphics card market is controlled by the largest companies in the world - Nvidia and AMD. Integrated circuits, which are application specific, are distinguished by processors. Such processors, unlike others, are programmed for only one simple operation. But they do it very efficiently and efficiently.

Today, mining is completely dependent on equipment based on these processors, which, by the way, are produced by the same large companies. This is because the Proof-of-Work algorithm uses the SHA-256 hash function. It is simple; you don’t need to have too much RAM to carry out calculations. In contrast, Equihash is a very complex hashing function that requires a large amount of RAM. Why all this comparison? It’s simple: to understand that ASIC processors for Equihash will be quite expensive. Accordingly, ASICs have no advantages in mining Bitcoin Gold.

How to mine Bitcoin Gold using the new algorithm?

Nvidia miners: EWBF Cuda Equihash Miner
AMD is not available yet, but is in development.
At the time of the fork, there will be a discount on difficulty, which should make the coin temporarily super-profitable.

The difficulty will be reduced to 1/100th of what it was before. This is partially offset by the new PoW.

The new algorithm is much more complex, and the lower mining difficulty partially offsets the possibility that some miners or pools will be slow to update and come to BTG mining.

The above means that mining immediately after the fork will be temporarily super-profitable until the algorithm (DAA) adjusts the difficulty and the hashrates stabilize.

Before updating

Make sure your pool will support BTG hardfork network upgrades

Install new software - EWBF Cuda Equihash Miner

Wait for block 536200

Where can I check the block height?

in Explorer: https://explorer.bitcoingold.org

During the fork launch

Stop the old miner
Launch the new EWBF Cuda Equihash Miner
Most likely you will need to increase the swap file

History of the cryptocurrency Bitcoin Cash

The history of Bitcoin Gold began in 2022, when Jack Liao, the director of a mining company from Hong Kong, decided to create the newest cryptocurrency of its kind. According to his far-reaching idea, this particular crypt was designed to solve pressing, but such important problems - optimize Bitcoin protocols, reduce the monopolization of mining, and increase network throughput.

But the most important goal that the developers, represented by Liao and the team of blockchain specialists, have set for themselves is to make mining accessible and as simple as possible, and to avoid using ASIC miners. That is why they proposed using the Equihash ZCash algorithm. With its help, you can mine coins using only a video card. And this is very correct, at least from the point of view that such equipment is much more affordable.

The coin was launched at the end of October 2022, at the same time a fork of the Bitcoin blockchain took place. The total supply of coins is 21 million. One block is generated within 10 minutes. But the most important thing is that Bitcoin holders have a new cryptocurrency with an interesting ratio of 1 BTC to 1 BTG. The price of Bitcoin Gold started at $600. Therefore, this fork became the most profitable in the history of cryptocurrency.

Particular attention was paid to network security. At the moment when BTG was launched, the developers made a loud statement: the network is 100% secure and repeated transactions within it are simply impossible. It was also a huge plus that the team collaborates with the largest pools, which increased BTG’s potential many times over and almost at lightning speed.

BTG was expected to repeat and even exceed the success of Bitcoin Cash. But, unfortunately, this never happened. The point is most likely that it is practically no different from the Bitcoin blockchain. The significant difference is the use of a special algorithm that allows you to mine coins only using video cards.

The development team and the purpose of creating the coin

The team of creators of the new coin consists of 20 people, 6 of them are co-founders:

From left to right: Jack Liao, h4x3rotab, Robert Kuhna, Martin Kuvandzhiev, Franco Niebles, Alejandro Reggio

Jack Liao, head.
h4x3rotab, anonymous lead developer, believed to be from China.
Robert Kitchen.
Alejandro Reggio, project manager from Spain.
Martin Kuvandzhiev, developer from Bulgaria.
Franco Niebles, leading designer from Colombia.

The head of Bitcoin Gold set a goal to make the coin the main fork of Bitcoin or even bypass Bitcoin. BTG, released on the Bitcoin blockchain, was seen as a fallback mechanism that could restore the parent network after the failure of the SegWit2X hard fork.

Distinctive features

BTG duplicates the blockchain of its original until October 2022. Crypto coins also have the same limit - 21 million coins, and a block is formed within the same time - 10 minutes. At this point, perhaps, we can put an end to the identical characteristics. Otherwise, Gold has its own characteristics that distinguish this crypt from many others.

The main idea of this hard fork is to decentralize the network. The emphasis is on industrial mining of Bitcoins and Ethereums. But this will concentrate the receipt of coins into several pools, and this is a threat to the security of the entire system, which the developers also tried to solve. Their main goal is to decentralize the mining of coins by users, which will equalize the rights of all users and make it possible to earn Gold even from home computers. And the first step towards this was taken - the algorithm was replaced with Equicash, while managing to preserve the old current protocol.

The new algorithm is complex and demanding in relation to RAM. This complicates the development of ASIC devices for it, which are specialized. Of course, it is quite possible to develop them, despite all the existing difficulties. But is this justified? The question is completely different. The fact is that performance will not increase by much than that of video cards. And given the complexity of assembly, the question of the profitability of such devices remains open. In simple terms, this is completely impractical, costly and will not bring any exorbitant results. Taking into account all of the above, we can draw a completely logical conclusion and highlight the most important aspects of BTG, which, in fact, can be called its undeniable advantages. This is a new Equicash algorithm, which has practically not been used until now, as well as the ability to mine crypto without ASIC devices, using only GPUs. Yes, there is another undeniable advantage: the complexity of the algorithm is recalculated after each block, and not once every couple of weeks.

And further. The developers proposed creating unique addresses that will distinguish BTG from the original and other hard forks.

Working principle of BTG

The new hard fork cryptocurrency BTG has many significant differences from the traditional and well-known Bitcoin. The first and most important principle that distinguishes it is the fairly favorable conditions on which funds are deposited and withdrawn. Let's look at the principles in more detail.

Speed of transfers. You can send money to any direction. At the same time, transactions are processed instantly, and funds are credited to the account at lightning speed. This is extremely important because users do not have to wait and worry about what will happen to their money next. This state of affairs increases user confidence and makes the system more in demand and popular.
Commissions. Commission fees are minimal, which also increases the popularity of BTG.
Confidentiality. This is one of the main advantages of this cryptocurrency. All share participants remain confidential thanks to a special protocol that protects personal data. Complete decentralization, which is the main priority of developers, also provides a kind of protection for user information.

BTG is an alternative cryptocurrency. You can mine it even on the simplest home computer; this process does not require expensive equipment that ordinary users cannot afford. This condition – the availability of equipment – made the mining process inaccessible to everyone. Only large companies that were ready to make large investments in earnings could earn coins in this way. This is exactly what happened with bitcoins. The popularity of the latter, as well as the exorbitant increase in their value, turned ordinary users away from cryptocurrencies. And this is not surprising, because buying expensive equipment with which you can confirm transactions is an expensive pleasure, which not everyone who wants to mine can afford.

What is the hashrate of Nvidia and AMD cards using the Equihash 144.5 algorithm for mining bitcoin gold btg

Decryption speed of the Bitcoin Gold algorithm on popular video card models.

Nvidia AMD

Model	Hashrate	Model	Hashrate
GTX 2080Ti	90 sol/s	Radeon Vega 64	34 sol/s
GTX 2080	74 sol/s	Radeon Rx 580	27 sol/s
GTX 1080Ti	63 sol/s	Radeon Rx 480	22 sol/s
GTX 1070	43 sol/s	Radeon Rx 570	20 sol/s
GTX 1060	27sol/s	Radeon Rx 470	18 sol/s

The data clearly proves that Nvidia video cards based on the Bitcoin Gold algorithm are leaders, leaving their competitors far behind.

Advantages and disadvantages of Bitcoin Gold

No matter how interesting and promising a project is, it always has both positive and negative characteristics. BTG was no exception. Among its strengths is undoubtedly the use of the latest Equihash algorithm. Its main advantage is that for most users there is no urgent need to purchase expensive, and, by the way, not always justified equipment, which must be installed on a PC in order to mine coins. Earning crypto coins has become much easier with Equihash. For this, only the video card is used. Other benefits include:

high ability of the network to withstand attacks;
excellent performance;
complete protection of users from hacker attacks.

As for the shortcomings, the main one, perhaps, is that the prospects for the coin are not yet fully understood. Yes, the base of the project is quite good. But the rate of crypto coins cannot be called stable. Although, however, stability has emerged in the last few months.

Well, the exchange rate is generally an unstable matter, so it would not be entirely correct to classify it as an advantage or disadvantage. Moreover, coin has much more global disadvantages. For example, many investors have noted poor duplication protection. This is why different services can still confuse such concepts as Bitcoin Gold with Bitcoin. This may lead to some operations being completely prohibited and remaining closed.

Another problem is that the developers at the dawn of the appearance of the crypt decided to carry out pre-mining. This has become the subject of controversy within the cryptocurrency community. According to the project administration, this measure was necessary and was caused by the fact that the new currency did not have financial support. Be that as it may, how many coins were mined by the developers during this forced measure remains a mystery shrouded in darkness.

It cannot be said that the shortcomings of crypt are global and fatal. They are easy to solve with the right approach, which is what the creators of the currency are trying to do. How successful they will be, only time will tell. Well, in this situation, we, ordinary users, have no choice but to wait. And hope that these expectations will be fully met.

Features of the BTG network

The Bitcoin Gold network is built on the Equihash PoW algorithm. To solve it, you cannot use ASIC equipment designed to work in the Bitcoin blockchain. Thus, the Bitcoin Gold fork is not a competitor to Bitcoin in the fight for miner power. Its network requires completely different GPU-based hardware.

Pros and cons of Bitcoin Gold

The clear advantages of Bitcoin Gold include the use of the new Equihash algorithm, which made it possible to mine the coin on the video cards of home computers.

In addition to increasing decentralization, this also makes the coin more popular and widespread. Positive aspects also include a high level of network security and open access to miner pools for ordinary users. This allows not only professionals to participate in the network and coin mining, but also ordinary people who do not have powerful computers at their disposal.

Thanks to code improvements, the BTG network has improved performance.

At the same time, the network is not without its drawbacks. Thus, experts note a poorly thought out anti-duplication mechanism. As a result, some services may confuse Bitcoin Gold and Bitcoin addresses, which leads to a ban on the transaction. The decision of the fork creators to carry out pre-mining of coins was also met with ambiguity by the crypto community.

As administration officials stated, this was necessary to ensure the life of the network at first, until it began to operate at full capacity. But how many coins were issued in this way remains unknown.

Implementation of replay protection

Every cryptocurrency is a target for hacker attacks. The network creators take these risks into account and take measures to ensure effective protection of user funds from possible theft.

Bitcoin Gold implements the Sighash Fork Id solution, which provides protection against unauthorized reproduction. This mechanism has two-way protection based on a new hash calculation algorithm. As a result, transactions carried out on the Bitcoin network cannot be implemented on Bitcoin Gold and vice versa.

Is there Bitcoin Gold mining?

Coin mining became possible in November 2022. As already noted, the process is entirely dependent on the Equihash algorithm. To successfully mine coins, you do not need expensive equipment. But some requirements are still imposed on him. So, for example, the operating system should be no older than Windows 7, and the RAM should be at least 4 gigabytes. The biggest requirements concern, of course, the video card. It should be as powerful as possible. As for the processor, it can be absolutely anything, because there is practically no load on it during the mining process.

So, if you have everything you need, all that remains is to install the miner - a special program that can be downloaded from the official website. The software is selected by the software and in many ways this choice depends on the installed video card.

To start the mining process, it is necessary.

Create a crypto wallet.
Copy his address.
Go to Windows settings.
Disable automatic updates, sleep mode, etc.
Open script file.
Enter login/password.
Select a pool and enter its address into the miner.
Start mining

Prepare for the fact that funds will arrive in your wallet quite often – several times a day.

I would like to dwell in more detail on the issue of choosing a pool. There are several types of pools with which you can receive crypto. Before you choose one of them, you should understand what each is.

Minergate. It is the largest pool of international importance. You don’t have to spend a lot of time to connect to it – the process will take no more than 10 minutes. But all the necessary equipment should be at hand. The service is very convenient and opens up the possibility of mixed mining.
Miners. This pool is professional. Computing servers are fully protected by a special protocol. You can mine both through joint puts and through solo ones. It features many interesting and useful features.
suprnova. It is considered one of the top pools that works with popular cryptocurrencies, forks and altcoins. The service is international, so the servers are located in several countries at once. The platform’s operation is based on the same Equihash algorithm. The pool operates under standard solo mining conditions. But receiving crypto coins is much faster, although the earnings are somewhat less.

To summarize, it is worth emphasizing that all pools are united by a single risk - the possibility of fraud. Therefore, you should pay special attention to their choice, be able to calculate all the possible advantages and disadvantages of services, and assess the risks. And in the end, draw the right conclusions, giving preference to the most reliable sites. To make sure of its reliability, take the time to study information from forums and read reviews. This is the only way you can be confident in the chosen service and know that no unforeseen circumstances will happen to your funds.

Buying digital currency

It should be noted that there are no problems with the issue of acquiring a crypto asset.

Today, Bitcoin Gold is presented on many trading platforms. Quite often, a digital asset is purchased and stored on:

Exchange	A country	Registration
Great Britain	Go
USA	Go
South Korea	Go

How to buy or sell Bitcoin Gold?

You can buy BTG, like most other cryptocurrencies, in two ways. The first involves the use of fiat money. The purchase takes place at exchange offices. The second option is to buy Bitcoins or Tether, which will provide Gold. A trusted exchange for transactions is Binance. Let's look at both options in more detail.

Let's start with exchangers. First you need to find the right one. To do this, you can use a search engine and manually search on your own, studying possible offers and choosing among them the most profitable and suitable ones. As an example, consider the polchange.ru service. It monitors exchangers and provides up-to-date information about available rates and the quality of services provided by a particular platform. This way you can choose the most suitable exchange location. After that, study the information about exchangers, read reviews and conditions necessary for carrying out transactions. Most exchangers offer to follow standard procedures - register and identify by providing your data.

Cryptocurrency exchangers are much more convenient to use than exchanges, at least this is what the reviews of most users say (we wrote a comparative article about crypto exchanges and exchangers here). To make the most profitable purchase, it is better to initially buy bitcoins and then exchange them for Gold. Let's look at how to exchange YandexMoney for Bitcoin and then Gold on the proven service 24PayBank. To do this, it is enough to select the exchange direction on our cryptocurrency exchanger, for us it is BTC. But this is just an example, you can choose your own direction. Next, following the instructions, you need to enter all the data that is required for the transaction. After filling out the fields, click on start exchange, then double-check that the information entered is correct, and only then proceed to payment.

The resource will automatically redirect you to the poison payment page. If payment is made from a bank card, it is necessary to undergo verification. There is no need to be afraid of this, the procedure is simple and proven. The application processing time is no longer than a quarter of an hour, after this time the bitcoins will be credited to your wallet.

But that is not all. Now the task is to exchange them for Golds. To do this, go to the 24paybank exchanger and change it to BTG there, but you can also buy it directly there.

Today the Bitcoin Gold rate is as follows:

Bitcoin Gold to ruble: 1 to 1,179.73;
Bitcoin Gold to dollar: 1 to 18.6.

The crypto rate has been constantly changing, ups and downs have been observed throughout the existence of Gold. The coin launched with a record price of $480. In just a couple of days the price rose to $540, but very soon fell to $127. The large-scale correction was stopped by a massive listing. In just a month, the exchange rate stabilized and settled at around $480. Capitalization (don’t know what capitalization is? This article is for you) exceeded 5.5 billion.

The second half of autumn 2022 was marked by instability. Fluctuations were significant: sometimes $400, sometimes sharply – $120. At the beginning of 2022, a protracted downward period began. The drop in quotes was due to many factors, both internal and external. In addition, the cryptocurrency during this period had a fairly serious competitor - Zcash, which uses Equihash, but with more profitable mining and better technical characteristics.

In March 2018, the price fluctuated around $60, capitalization dropped to a billion. The quote decreased daily and within a month it had halved. The reason for this was a large-scale attack on the network. The attackers stole about 30 thousand bitcoins. This state of affairs greatly undermined the position of the altcoin, and its delisting began.

The historical minimum occurred at the beginning of this year. During this period, the price dropped to $9, and capitalization to 170 million. It would seem that this is the collapse. But unexpectedly for everyone, quotes began to increase in February. At this time, management published a new roadmap and gave a full report on the technical audit. As a result, the situation has changed dramatically. The rate has increased by 200%, today its daily dynamics are +3%.

Application of a new cryptocurrency

Having received, purchased or mined BTG, the question arises - what can you do with it and where to spend it?

These coins can be exchanged for Bitcoin or other altcoins on cryptocurrency exchanges or online exchangers. At the time of writing, there are no sites or services that accept Bitcoin Gold as a means of payment. It is more profitable and convenient to trade on the stock exchange. The price of the coin is constantly changing, opening up great opportunities for speculation.

When working with cryptocurrencies, it is necessary to carefully select software to avoid loss of funds.

Chronology of development and future events

November 12, 2022—blockchain launch;
December 8, 2022 - support on the TDAX exchanger;
December 14, 2022 - the coin is accepted on the Coinone exchange;
December 2022 - updated website;
January 8, 2022 - IG online platform launches BTG trading;
January 15, 2022 - new roadmap published;
end of January 2022 - Hyundai Pay adds support for Bitcoin Gold to its wallets;
February 2022 - implementation of the new Bech32 protocol for addresses, which will make them different from Bitcoin addresses;
first quarter of 2022 - integration with libraries bitcoinJS, BitcoinJ, Copay;
second quarter of 2022 - introduction of micropayments based on LightingNetwork;
fourth quarter of 2022 - implementation of the ambassador program in different countries of the world, holding conferences for software developers, launching cross-chain atomic swaps.

Where to store Bitcoin Gold

There are several ways to store Bitcoin Gold. The simplest and most proven is to use an official cold wallet. In addition, there are all kinds of mobile wallets. You can also create a special wallet on the exchange where you directly trade Gold.

Where can I get an official wallet? You can freely download a cold wallet on the official cryptocurrency website bitcoingold.org. In this case, the storage is maintained by the system itself. Thus, Windows OS supports different versions - both 32 and 64-bit. It all depends on your needs and computer capabilities. Wallets for Linux and Mac are downloaded separately. It is worth understanding that the weight of this wallet can be very large – up to 150 gigs. Therefore, before installing it, you should make sure that there is enough free space on your computer, otherwise all attempts will fail. The peculiarity of the wallet is that it automatically synchronizes with cryptocurrency blockchains and saves information about blocks in the network. By the way, many experts call this method of storing cryptocurrencies the most reliable and secure.

If the synchronization process does not start after installing cold storage or takes too long, it should be done manually. This is easy to do by following the instructions.

Create a shortcut for bitcoin-qt.exe.
Go to the shortcut properties.
Specify the parameter – bootstrap.
Download the node.
Register the port in node 8333.
Sync to block 491407.
Close shortcut.
Open a regular file.

Of course, in most cases, synchronization does not cause problems and occurs automatically. But if an unforeseen situation arises, you will meet it fully prepared.

The popularity of the coin is growing every day. It is promising and both developers and ordinary users place a lot of hope on it. In view of this, third-party developers also include crypto in their wallets. Therefore, today, in addition to the official wallet, which was discussed above, other storage facilities are available - online, desktop, mobile. The most popular and proven options are presented below.

Exodus. The crypto storage platform occupies a leading position in the segment. You can store many crypto coins in this storage. A huge plus is the presence of an internal exchanger for altcoins. But to use it, you will have to pay a fee. You can also create backups within the system if any failures occur with the system. By the way, it is recommended to make such backups regularly, once a month. In this case, it is better to save a copy on your computer, cloud storage or removable drive.
BTGwallet.online. The service is simple, however, it provides an address for mining or purchasing Gold. Long-term storage of coins on this service is not advisable. But for initial purposes, the site is quite suitable. As funds grow, of course, you will have to select and install something more serious.
BTGOnline. The site has almost the same parameters as the previous one. Its advantage is the availability of a full-fledged Russian-language version. On the service you can not only conduct transactions, but also exchange Bitcoin Gold. But the commission is much higher than on exchanges.
Coinomi. This mobile application is a leader compared to other similar ones. By the way, it is also very convenient. After all, you can store and send cryptocoins directly from your smartphone. The application will be especially relevant for those who carry out many operations simultaneously, and a PC is not always available. At the same time, the developers do not recommend storing crypto on such a wallet for a long time. This is primarily due to the fact that smartphones do not have a high level of protection. But as a transshipment point, such an application is very relevant.
Freewallet. With the help of a startup, wallets for many cryptocurrencies can be simulated. Bitcoin Gold was no exception . The application is quite simple, but quite reliable.

As you can see, there are really many methods for storing Golds. Now you know their advantages and disadvantages. The choice, of course, is up to you. We can recommend dividing coins into several crypto wallets: if something happens to one, the remaining coins will remain safe. Of course, for large volumes of cryptocurrency that is not in active circulation, it is better to choose only official cold wallets. They are the most reliable and protected. Active traders can use mobile applications - it’s simple and convenient, and access to assets is always, as they say, at hand.

Storage

A full-fledged Bitcoin Gold wallet is available on the official website of the crypto fund.

To do this, you need to visit the website bitcoingold.org and go to the “downloads” section.

Next you will be prompted to download your wallet.

After downloading and installing it, you will receive the address of your crypto wallet in the system.

Note that users are also offered the opportunity to open a mobile wallet.

Freewallet and Coinomi are convenient to use.

What is Bitcoin Gold backed by?

Bitcoin Gold is a decentralized crypto coin, the extraction of which is possible thanks to the Equihash algorithm. Its distinctive feature is that it is very demanding on the computer's RAM, or rather, its quantity. But industrial mining is almost impossible, because this algorithm makes creating equipment for it very difficult and expensive. Mining on a video card is becoming very popular, it is this algorithm that makes it possible, and also opens access to the process for ordinary users.

Bitcoin Gold cryptocurrency: what awaits in 2022

The prospects for Bitcoin Gold don't look good at all. Even with many experts predicting growth in the cryptocurrency market in 2022, it is difficult to expect Bitcoin Gold to follow this bullish trend.

Today, this coin is more reminiscent of a typical shitcoin with a lot of problems, which has not demonstrated any technical achievements over the year of its existence. If you are going to buy this currency for a long term, we advise you to think very carefully.

The Future of Bitcoin Gold

Initially, Gold mining, like many new cryptocurrencies, was available to the majority of users who have equal opportunities in this process. But as the altcoin progresses and becomes more relevant, as well as its value, which is actually what is happening now with Gold, large companies are joining the process. Gold does not have any original ideas that can be used to pay for goods, develop platforms, or improve functionality. But his main priority is that the developers have put the right emphasis and are focused on Bitcoin returning to decentralization. What is extremely important is that the developers do not present themselves in a competitive light to the original. Rather, they are positioning their altcoin as a support for the main crypto, the benchmark for which is successful mining among all users. The appeal of this is undoubtedly great. Users can mine coins without spending too much.

This hard fork is of genuine interest to many experts. Naturally, they began to study it, analyze it, and came to certain conclusions regarding the future of the crypt. So, according to most experts, Gold will be successful, and considerable. However, many point to a stabilization period. According to the conclusions, in the next few months, or even a whole year, Gold will show high levels of volatility. The reason for this is technical vulnerability and instability caused by the introduction of innovations.

During the hard fork, Bitcoin holders received the same amount of Gold. The new cryptocurrency was supported by exchanges, the rate started at $500. But large sales subsequently affected the price and led to its decline. Analysts note that changes are quite an expected phenomenon for the coming period. But the result should be the stabilization of the coin and the determination of its real value.

The future of Bitcoin Gold has vague forecasts, there are no specifics. Of course, there is potential for growth. This means that if you implement your idea correctly, you can count on a good return on investment. By the way, any project related to cryptocurrency at the initial stage of its development is subject to doubt and is vulnerable.

Based on the listed factors, investors are still wary of Gold, but they do not lose sight of it, and certainly do not write it off as a promising cryptocurrency that may “shoot” profitably in the near future. Moreover, today Bitcoin Gold is in the top 10 in terms of capitalization, and this already says a lot. If user activity increases or at least remains at the same level, BTG will actively integrate into payment systems, and a new stage of their development and improvement will begin.

Many, especially novice miners, are interested in the pressing question - is it worth investing in BTG? It is difficult to give a definite answer. Probably, in this regard, everyone should decide for themselves. And also - analyze in detail the factors that at this stage hinder and promote the development of cryptocurrency. They say in BTG's defense.

A very thoughtful strategy. If you analyze the entire path traversed by the coin from the very beginning, the developers’ intention becomes obvious - mining using a video card.
Smart marketing. Yes, the team is often accused of profiteering. She gives reasonable answers to all accusations, which undoubtedly increases her rating in the trust listing.

As for the hindering factors, unfortunately, there are still several of them.

System vulnerability. Proof of this was the 2018 attack, which indicated inadequate protection of funds.
Dubious reputation. It was undermined by the fact that management refused to compensate for the losses of users after the attack.
Lack of interest from large investors. Major players still work with the original cryptocurrency, considering it more reliable and profitable. Well, they have every reason for this, in particular, expensive equipment that small investors can only dream of.

The forecasts are very mixed. Many are confident that no obvious growth in crypto is expected in the near future. According to the most optimistic forecasts, by the end of the year the rate will be at around $50-60. The most pessimistic users are afraid that it will fall below $10.

What to do in this case? Probably the best thing is to take a wait-and-see attitude and monitor compliance with the points of the road map. There is no need to rush to make mind-blowing investments in Bitcoin Gold, otherwise you may lose money. But there’s no need to discount Coin just yet.

Exchanges and exchangers

If you had funds in the accounts of the exchange that supported the fork, new coins will be credited automatically. They officially announced support for about 20 crypto exchanges. The most popular of them:

Binance;
HitBTC;
YoBit;
BitStar;
Bitfinex;
Bluetrade;
BitBay.

Coinbase, a popular exchange in the American market, refused to support Bitcoin Gold. According to a representative of the exchange, the developers did not provide open source code for their platform, and this contradicts accepted security principles. Coinbase has promised to monitor the project and add support for BTG in the future.

Differences between Bitcoin Gold and Bitcoin

From a technical point of view, Gold repeats Bitcoin. The main difference lies in the mining algorithms. When launching Gold, the developers set themselves a very specific goal - to make the payment system decentralized and give control over it to ordinary users, and not to monopolists who produce mining equipment. In other words, to popularize Bitcoin and make it more accessible.

Of course, a full-fledged working network has not yet been launched, although almost 2 years have passed since the coin appeared. By the way, according to the Roadmap, this should happen exactly in the current 2022. In addition, the developers plan to create a special node for business clients, release a fully functional crypto wallet, and launch an application for smartphones. So far, only in plans, but it is being discussed, to use cross-chain technologies that will help exchange transactions (information about Bitcoin transactions here) between different blockchains. At the moment, the only feature of this large and potentially interesting project is the use of a specific algorithm for mining. It was he who became the subject of controversy in the community, and also aroused genuine interest from all participants in the cryptocurrency market.

How to create a wallet to store Bitcoin Gold

Many investors store their cryptocurrencies on exchange platforms. This storage method is convenient and affordable, but the risks of losing digital savings become very high.

The private access keys to your account are owned not only by you, but also by the developers of the exchange platform on which you store cryptocurrencies. If the service is hacked by hackers, then perhaps your access keys will fall into their hands. You will lose your savings, and no one will return them to you, since the exchange developers refuse to be responsible for investors’ accounts.