Topic: Bitcoin Gold Plans to Fork Bitcoin and Change the Consensus Mechanism (Read 292 times)

It looks like i am stalking you haha(every topic that i come to comment you are there ) other then that. We still don't know what will be the value of Bitcoin Gold? How i read some exchanges have accepted S2X and his value will be BTC/3, but what about Bitcoin Gold? Segwit2x it looks it was planned months ago, and Bitcoin Gold, just came suddenly(or i havent payed attention to it because i was thinking it was some kind of scam). But it looks like they are really serious about it. What would be starting value of BTC Gold - how much USD for start, do we have any data for that?

Frankly - this is just making another ALTCOIN and has nothing to do with BTC proper. For a long time the only way to spend this new coin will be to first convert it to real BTC

Whatcha wanna bet that the folks behind it have already been mining, er, 'testing' it and like the creator of Litecoin did will already have a substantial stash of coins mined before the official Grand Opening.

Yes, you read that correctly bitcoin enthusiasts might see another hard fork this October that produces another token called Bitcoin Gold. The project first announced on Bitcointalk.org in July was created by Jack Liao, the founder of Lightning ASIC a mining firm based out of Hong Kong and an anonymous developer named “h4x3.” The forked protocol aims to change bitcoin’s consensus algorithm allowing users to mine the currency with graphic processing units (GPU) among other changes. According to the development team, Bitcoin Gold will use the Equihash algorithm used by the altcoin Zcash rather than bitcoin’s original SHA256.

“Bitcoin Gold implements the UAHF (User Activated Hard Fork) proposal to accept GPU mining,” explains the website archive. “Miners can choose the size of the blocks they want to mine, with a default of 1 MB. It includes replay and wipeout protection.”
For too long, Bitcoin has been held back by the centralized mining industry. GPU brings Bitcoin into the modern age with an exciting technological roadmap to enable massive on-chain scaling well into the future with decentralization.

Most Bitcoin Proponents Unaware of this Project
Even though it was announced back in July the news of the Bitcoin Gold fork is just starting to come around people’s radar. Some believe the announcement and the project’s website is a “troll attempt” to create confusion and dilute the power of the Bitcoin Cash fork and Segwit2x. The Bitcoin Gold protocol has available code on Github for review and has multiple social media accounts for Twitter, Facebook, and a Slack channel. Currently, there are over 250 members in the Bitcoin Gold Slack channel, and many of the visitors seem excited about the new fork. Even though the user-activated hard fork will take place on October 25 the full network launch is scheduled for November 1.
 Evil ASIC Manufacturers

There is a lot of discussion happening on the team’s Slack channel and it seems the team has a lot of work to do if BTG developers hope to fork on October 25. For instance, at the moment there is no testnet for miners to test the protocol, reveals the BTG lead developer. “We are working on core protocol and will launch the testnet ASAP,” the BTG programmer reveals in a conversation on the team’s general chat Slack channel. “[Mining] profitability is determined by the price and mining difficulty, but the price is hard to predict,” he adds.
The developer also throws out a few opinions throughout the general chat channel about mining centralization. “ASIC leads to centralization — Evil ASIC manufacturers want to take up Bitcoin,” the BTG developer emphasizes. News.Bitcoin.com briefly spoke with Bitcoin Gold’s lead developer who calls himself “H4x3” over the team’s Slack channel about the project. “I can confirm the PoW will be changed to Equihash and the fork date is October 25,” explains the developer. We sent some questions to Jack Liao and H4x3 because the lead developer told us our questions were “too sensitive” to answer alone. The BTG team has not yet responded to our emailed questions.

Possible Reasons for a Very Unorganized and Confusing Fork Proposal
It’s likely that many bitcoin proponents are viewing the project as a joke or another method of “crypto-trolling.” There’s a lot of good reasons people believe its a prank because the project seems extremely unorganized for a hard fork slated for the end of October. Further, there is speculation from community members about the team’s intentions to change the bitcoin algorithm to conform with GPU miners. Jack Liao manufactures GPU miners that can mine the Zcash algorithm Equihash and speculators believe this is the primary reason to clone bitcoin and make it GPU compatible.