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What Is Bitcoin Gold?

Currencies / Bitcoin Apr 12, 2021 - 11:59 AM GMT

By: Umer_Mahmood


Throughout the last few years, Bitcoin and other forms of cryptocurrency have absolutely taken off and found their place within the world. People from all over the globe are going nuts over this new form of digital currency that is highly volatile but very intriguing. Now, their newest option is with cryptocurrency forks of various types that are now taking place on a regular basis.

Even Bitcoin, one of the most popular cryptocurrencies in the world, has experienced several hard forks recently with one of them being Bitcoin Gold. It took place around the late months of 2017 and was one of the most talked-about and relevant hard forks that Bitcoin has ever released. On October 24 of 2017, Bitcoin Gold took place and was one of the most discussed hard forks ever released.

Hard forks in the cryptocurrency world take place for many reasons, one of them being for scaling as a cryptocurrency customer base grows, or because of developer conflict and differences of goals. However, not all of them are met with happiness or support, in fact, many of them are actually left without a lot of support. In the crypto world, if something or someone is not immediately deemed worthy, people tend to be sheep and agree with that. For more help with Bitcoin, click here.

Bitcoin Gold
Like many different cryptocurrencies around the world, Bitcoin Gold also had had its fair share of downfalls and heavy controversy, however, that hasn’t stopped it from being a common topic among people. It still remains popular after all it has been through and much like Bitcoin itself, people are still more than happy to become involved with it no matter what risks it may pose after time. Just after the launch of Bitcoin Gold, the first bit of controversy arose.

This all happened when some miners went on to accuse one of the high-profile developers of Bitcoin Gold of having added in a 0.5% mining fee that is said to have been hidden from the mining community.

The future of Bitcoin Gold
The future of Bitcoin Gold is just about as clear as the future of Bitcoin itself, it can all become so vastly confusing at times. However, according to the Bitcoin Gold website, the great new form of cryptocurrency remains ambitious about its future plans for expansion. In the long term, there are hopes that it will remain as a strong hard fork and that it will begin to become bigger and bigger as time goes by.

There isn’t a whole lot of proof about the longevity of it because nobody really knows what the future holds for such cryptocurrencies. The developers say they will always remain hopeful and that big things will be coming within the next few years for Bitcoin Gold. For now, it is up to you whether you want to invest or simply hold out until something magnificent happens, however, bear in mind that by that time, you may be too late.

By Umer Mahmood

© 2021 Copyright Umer Mahmood - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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