We shouldn't worry about things we can't do nothing about. Let along if they have small effect on Bitcoin anyway.
So you shouldn't worry about it, but there is drawback when people cash in their free coins, as often they will join their coins together and cash in all of those free coins in a single transaction, which hurts anonymity of Bitcoin users. There are also maybe some psychological problems with them, but I mentioned a practical one.
Topic: Bitcoin and Free Money (Read 208 times)
What exactly is "Bitcoin Gold" supposed to be? Anyways, spinoffs and altcoins can do whatever they want without hindering Bitcoin in any way. I see no reason to disregard Bitcoin just because it happens that an altcoin is based on its chain up to certain height.
Bitcoin Gold is the gpu version of Bitcoin.
The guy that is promoting it in order to get rid of the "evil asic manufacturers" is actually a big gpu miner .
Basically he wants to take the place of bitmain with a coin that is "more fair" (that is actually what he said so we have a clue about his English skills) to the average miner.
In the end they can make 2 or 5 or 600 thousands clones, if the market decide they hold some value they will be worth something if not, they will end like thousands of coins have in the past.
But I guess by the 6th or 7th coin people will start looking at them like jokes.
What exactly is "Bitcoin Gold" supposed to be? Anyways, spinoffs and altcoins can do whatever they want without hindering Bitcoin in any way. I see no reason to disregard Bitcoin just because it happens that an altcoin is based on its chain up to certain height.
About some weeks back we saw the Bitcoin Cash emerge giving free money to everyone ( I was also a beneficiary). Now Bitcoin gold is seeking to take advantage of the next hard fork and it is widely speculated that free money will also be given to everyone (bitcoin holder). Is this practice good for the cryptocurrency community? Is it not actually hampering the adoption of bitcoin as a "serious" currency?
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