I also disagree with the need of having a 1% premined, there is no need really.
Also, in my opinion the sudden massive fall of its value in these past 2-3 days can only be explained with the dev dumping his 1% to convert it to Bitcoin.
I can't otherwise explain, I never seen a coin getting to a third of its launch value in just three days. That's not volatility, it's speculation of the finest kind.
Topic: Bitcoin Gold premined? (Read 1171 times)
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
Bitcoin Gold doesn't really have that many people wanting it so who cares? https://twitter.com/bitcoingold
How much premined?There is yet another fork in november.
Based from the things I read, it's just less than or ~~1% of the total coins to be produced. I can't really understand on why some can't understand it. This coin needs a support that will carry this new coin for years, so they will be needing a budget for that. Remember that ethereum also was premined way more that 1% and it has been discussed and argued for many months, but look at it on how ethereum was developed. Still for years ethereum is still in a good run because of developments. Maintenance is very important same as support and developments. Look at doge, it has been stagnant for years because of lack of developments, now it seems that it is dying.
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
https://twitter.com/bitcoingold
Having a premine doesnt always mean good or bad necessarily but that much depends on who is behind it and what the distribution plan is. Seeing how their is literally zero distribution plan and the who is not people who
you can instill trust in it is bad in this spot. I mean look at how bitcoingold started off at and now has been pushed down. This isnt due to new miners or people in the market having a ton...it is directly due from the dumping
of that premine, which is down right gross.
I guess GPU mining is cool, but there are plenty of GPU coins to mine, we didn't really need another one and Including the fact that it will be possible to mine on not very powerful video cards. So it's possible to Mine the Bitcoin Gold But take some time.When the Bitcoin gold is came means,all will get into it.
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
https://twitter.com/bitcoingold
Having a premine doesnt always mean good or bad necessarily but that much depends on who is behind it and what the distribution plan is. Seeing how their is literally zero distribution plan and the who is not people who
you can instill trust in it is bad in this spot. I mean look at how bitcoingold started off at and now has been pushed down. This isnt due to new miners or people in the market having a ton...it is directly due from the dumping
of that premine, which is down right gross.
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
Mined or not, I still won't be purchasing any coins when they begin to distribute the coins to the people that hold Bitcoins.https://twitter.com/bitcoingold
I definitely won't be buying either, I dislike how they have been premining it, Some people probably won't even realize.
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
Mined or not, I still won't be purchasing any coins when they begin to distribute the coins to the people that hold Bitcoins.https://twitter.com/bitcoingold
Just read on twitter @bitcoingold an update and it says that bitcoin gold is premined? what does that mean?? good or bad?
https://twitter.com/bitcoingold
https://twitter.com/bitcoingold
is bad, bitcoin cash without premine
i think is difference with bitcoin cash, bitcoin gold dev not transparency,
it can be 1% instamine .. due to delay in wallets.. hope everything will be fair
This is one reason why I don't think BTG will debut at a high price. I might be wrong, but this is looking like fork to try to get rich, rather than a fork to improve Bitcoin. I guess GPU mining is cool, but there are plenty of GPU coins to mine, we didn't really need another one.
Do any of you actually have proof that this is all true what you've been posting on this thread?
Because so far as far as I can see it is all just speculation with no actual proof of anything in this whole thread.
Because so far as far as I can see it is all just speculation with no actual proof of anything in this whole thread.
yes, that's why bitcoin gold is scam
How much premined?There is yet another fork in november.
The Segwit2x fork in November is a whole different thing.It will be a copy of Bitcoin but with solutions for scaling problems implemented, no premined coins rather than the ones on the current blockchain..
And what bitcoin is Gold better than the original bitcoin? I do not understand why I need to create a lot of coins that nobody needs. Bitcoin gold will not compete for the original bitcoin
I'm not getting... How come Bitcoin Gold is premined when it doesn't even exist? I hear that if all goes well, the tokens will only be issued for those having BTC on certain exchanges and certain wallets. I have also heard that it might be a vector attack to bitcoin... can someone clear this for me?
The distributing of coins only to certain wallets and exchanges seems invalid, this is a quote on the FAQ of their website (btcgpu.com):
Quote
How can I get Bitcoin Gold?
The Bitcoin Gold (BTG) initial coin distribution method is exactly the same as that used by Bitcoin Cash (BCH). All Bitcoin holders who possess BTC private keys on October 25 (block 491 407) will receive Bitcoin Gold on the rate of 1 BTC = 1 BTG (If you have 20 BTC you will receive 20 BTG). You need to control BTC private keys in order to make Bitcoin Gold transactions.
The Bitcoin Gold (BTG) initial coin distribution method is exactly the same as that used by Bitcoin Cash (BCH). All Bitcoin holders who possess BTC private keys on October 25 (block 491 407) will receive Bitcoin Gold on the rate of 1 BTC = 1 BTG (If you have 20 BTC you will receive 20 BTG). You need to control BTC private keys in order to make Bitcoin Gold transactions.
I think pre-mining could be possible when they delay the publishing of a mining client or it's settings.
it is premined which means after release the developer will get a huge amount of BTG tokens in his pocket for doing nothing.
it is bad because it makes the project look bad and like a scam. which is what all the scam altcoins have done to make money for doing nothing.
an honest developer doesn't need these types of action to make profit from his own project. an honest developer is someone like Charlie Lee of Litecoin who has invested in his own project with hard earned money like the rest of us and he made millions when he made LTC popular and big.
a premined altcoin can never become successful in the long term. it will always have that premine as a big black scam mark on its forehead till the end of its days.
Pretty much what he said, it always raises red flags when there is a chunk reserved for the developer for the simple reason that the developer at any time can dump their coins and then take their money and move on.it is bad because it makes the project look bad and like a scam. which is what all the scam altcoins have done to make money for doing nothing.
an honest developer doesn't need these types of action to make profit from his own project. an honest developer is someone like Charlie Lee of Litecoin who has invested in his own project with hard earned money like the rest of us and he made millions when he made LTC popular and big.
a premined altcoin can never become successful in the long term. it will always have that premine as a big black scam mark on its forehead till the end of its days.
This has always been an issue with altcoins and many times the developers have run away with their profit and left the community behind. I don't see any real reason for these pointless forks.
I'm not getting... How come Bitcoin Gold is premined when it doesn't even exist? I hear that if all goes well, the tokens will only be issued for those having BTC on certain exchanges and certain wallets. I have also heard that it might be a vector attack to bitcoin... can someone clear this for me?
Why would you premine something but at the same time have the intention of being taken seriously? Man I dont get how this wont be insta dumped day one of receiving the coins. Atleast bitcoin cash did not do this and look
what happened there. Doesnt take a genius to predict what is going to happen with this one
what happened there. Doesnt take a genius to predict what is going to happen with this one
How much premined?There is yet another fork in november.
The Segwit2x fork in November is a whole different thing.It will be a copy of Bitcoin but with solutions for scaling problems implemented, no premined coins rather than the ones on the current blockchain..
Hmmm... Need more information before i start spreading FUD.
The general idea of the bitcoin Gold coin is quite good. I personally like it. Including the fact that it will be possible to mine on not very powerful video cards. Along with other positive properties, I believe that this coin has the right to exist. Then the market itself will show whether it deserves its name or not.
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