Bitcoin Gold — just another ICO scam with 200,000 coins pre-mined
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Bitcoin Gold is a distributed digital currency. It is a hard fork of Bitcointhe open source cryptocurrency. The stated purpose of the hard fork is to restore the mining functionality with common Graphics Processing Units GPUin place of mining with specialized ASIC customized chipsetsused to mine Bitcoin. A central part of the bitcoin process, mining, is being how long does it take to mine 1 bitcoin gold by a few manufacturers who sell their products to a select group of industrialized miners, centralizing the mining task and breaking with one of the core values of bitcoin - decentralization .
ASIC resistant GPU powered mining provides a solution, as this kind of hardware is ubiquitous, and anyone can start mining with a standard, off-the-shelf laptop computer. The hard fork occurred on October 24th,at block height The team did this via a rapid mining of approximately 8, blocks at However, of the K coins, some five percent were set aside as a bonus for the team, or about coins for each of the six members.
Bitcoin gold uses the memory hard equihash as proof-of-work algorithm instead of the sha But for the rest, the project follows the guidelines of the Bitcoin core project. From Wikipedia, the free encyclopedia. This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources.
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