Bitcoin Gold's spectacular Price Collapse

First77

member

Activity: 266

Merit: 32

Quote from: squatz1 on May 21, 2018, 08:40:03 PM

Just so you know bud, Bitcoin and Bitcoin gold aren't the same thing at all. They're two different coins.But yes, Bitcoin Gold has nothing behind it (even less than Bitcoin Cash) it has no use factor, no dev team that actually does anything, no people that are saying they are the answer to the bitcoin consensus problem. Bitcoin Gold is just leeching off of bitcoin with the name. It's a way to confuse people, it's sad.

I was able to sell 2 ounces pure gold without a purchase receipt (paperwork). That is the trust gold and silver dealers have is real bullion.

Go for Gold and Silver coins and bars. Why anything else ??

nemey

member

Activity: 658

Merit: 10

Catena X

I almost every day pay attention to this Bitcoin Gold. I really don't want to say that this coin is collapsing. Bt the fact is there.
This coin is now around only $44.58, precisely under NEO price. The changes are often in red by now it drops around more than 4%.
It likes this Bitcoin Gold is only the fork of the Bitcoin. At that time, it goes together with along with the Bitcoin cash. But now It is very dropping.

Razick

legendary

Activity: 1330

Merit: 1003

Bitcoin gold was just another fork that was never going to do well so I can't say I am surprised at how far the price itself has fallen given that there was never any use that bitcoin gold could be used for. With forks, what you should do is wait to get your forked coins, wait for the price to peak for the first time, which it will, then sell your coins and get out of the coin as soon as you can.

sabine80

member

Activity: 728

Merit: 14

i'm not surprised. bitcoin gold made a lot of mistakes from the beginning. therefore, it is no surprise that the price has collapsed so. should that be true with the double-spending attack, it's definitely the end of bitcoin gold.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: jvper on May 23, 2018, 03:36:57 PM

Actually I've heard some miners have been doing double-spending attacks, selling bitcoin gold and still holding them, so actually the other person will not receive their bitcoin gold. Who buys such a coin? This is a big problem.

I won't be surprise if such thing happen in bitcoin gold mining sector cause the coin don't have the community support right from the beginning and the team involve were seen as a joke either due to their incompetent.

jvper

hero member

Activity: 966

Merit: 507

Actually I've heard some miners have been doing double-spending attacks, selling bitcoin gold and still holding them, so actually the other person will not receive their bitcoin gold. Who buys such a coin? This is a big problem.

Yokonaumiyaki000

member

Activity: 308

Merit: 11

Quote from: boy130 on May 21, 2018, 05:40:19 PM

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

https://coinmarketcap.com/currencies/bitcoin-gold/

Bitcoin Gold Lost quite Some value since it last time peaked at 450 usd

its now around 50 USD

what are the reasons for this price collapse?

i mean the US dollar is obviously losing value as well.

regards

The fact that Bitcoin Gold was all hype and no substance, being one of the only bitcoin forks with substantial influence behind it, and a decent marketing budget to pump it up to astronomical levels. It's collapse was due to Bitcoin Cash coming along and being superior in pretty much every way, including being pumped better with an even bigger team.

loled with all hype and no substance.

People just realized that there's no need in this, investors are withdrawing from their position. Just look at the graphs, from the start (with the hype and all) since then it has been steadily decreasing.

Dingdong7

member

Activity: 138

Merit: 15

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

https://coinmarketcap.com/currencies/bitcoin-gold/

Bitcoin Gold Lost quite Some value since it last time peaked at 450 usd

its now around 50 USD

what are the reasons for this price collapse?

i mean the US dollar is obviously losing value as well.

regards

We have seen the price bitcoin have reached before. Don't feel discouraged if you are seeing the price dropping, its a normal thing about bitcoin simce it is volatile. We will surely see it again recovering and regaining its high peak soon. Bitcoin has something in store for us, lets just be hopeful that it will once again gain its momentum.

KingScorpio

sr. member

Activity: 1470

Merit: 325

when its not in the interest of someone the accept someone elses truth, or point of view, he would be stupid to accept it.

regards

kostya-smrnv

newbie

Activity: 112

Merit: 0

I think this year even to delve into the reasons is not worth it. Everyone is trying to fight cryptocurrencies, others on the contrary, support and make a contribution. Because of this cryptocurrency is confused

jvper

hero member

Activity: 966

Merit: 507

I sold mine when they were 0.05 BTC. 5% of a BTC was clearly too much for Bitcoin Gold.

Newboybb

member

Activity: 266

Merit: 10

Why would you choose to invest in a fork of bitcoin gold?
This fork has no value, just a hype.

voron83-05

jr. member

Activity: 434

Merit: 1

Pozess - The Photo Sharing Fashion Marketplace Tha

BTC gold is not cool, it's a cryptonym and very much dependent on the founder - BTC the more it is on the same platform ... Soon it will grow!)))

pooque

member

Activity: 182

Merit: 10

You should know that latest update about your coins so you wont get rekt if the investors has abandoned your coin,losing a value isnt the problem but the manipulation of the big players.

KingScorpio

sr. member

Activity: 1470

Merit: 325

did the bitcoin gold developers got a huge premine from their fork?

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

what are the reasons for this price collapse?

there was never a "price collapse", there has always been pump and dumps.

like any other shitcoin which was created by forking bitcoin, bitcoin gold doesn't have any reason to exist either. what you see as the drop is just the inevitable reality that all of these forked coins and all the rest of useless shitcoins out there will face sooner or later. traders won't hang around in an speculative asset forever. they will dump and move on.

sakahayang

full member

Activity: 414

Merit: 100

Quote from: boy130 on May 21, 2018, 05:40:19 PM

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

https://coinmarketcap.com/currencies/bitcoin-gold/

Bitcoin Gold Lost quite Some value since it last time peaked at 450 usd

its now around 50 USD

what are the reasons for this price collapse?

i mean the US dollar is obviously losing value as well.

regards

The fact that Bitcoin Gold was all hype and no substance, being one of the only bitcoin forks with substantial influence behind it, and a decent marketing budget to pump it up to astronomical levels. It's collapse was due to Bitcoin Cash coming along and being superior in pretty much every way, including being pumped better with an even bigger team.

I agree with your writing above. probably one of the causes of bitcoin gold is less desirable because bitcoin gold still uses Equihash algorithms where miners still use GPU devices, in contrast to bitcoin cash using the proof of work algorithm (PoW) where miners are already using Asic (SHA256) devices similar to BTC ( considering at the moment everyone is now using Asic devices faster than GPU).
then if we return to Crypto world law, that is "when the coin is a lot of mine then the coin is much in demand and the price will be high".

budismile

jr. member

Activity: 293

Merit: 1

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

https://coinmarketcap.com/currencies/bitcoin-gold/

Bitcoin Gold Lost quite Some value since it last time peaked at 450 usd

its now around 50 USD

what are the reasons for this price collapse?

i mean the US dollar is obviously losing value as well.

regards

The ups and downs of a coin are common and these habits often occur, for example if bitcoin rises then auto bitcoin gold with bitcoin cash goes down and vice versa when bitcoin decreases then bitcoin gold and bitcoin cash will rise. As for the rise or fall it will not be the same could be slow or it could be fast, it all depends on the market trend.
so essentially do not panic when gold bitcoin coins are down, because your panic becomes your loss.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Quote from: First77 on May 21, 2018, 05:10:39 PM

In 2012, there were lots of internet talks "Buy 1 ounce Silver. End the Federal Reserve (USA)" then the silver price fell to $9/ounce.

Bitcoin has the same story with all the anti-government and anonymous talks.

Just so you know bud, Bitcoin and Bitcoin gold aren't the same thing at all. They're two different coins.

But yes, Bitcoin Gold has nothing behind it (even less than Bitcoin Cash) it has no use factor, no dev team that actually does anything, no people that are saying they are the answer to the bitcoin consensus problem. Bitcoin Gold is just leeching off of bitcoin with the name.

It's a way to confuse people, it's sad.

jayco25

full member

Activity: 336

Merit: 106

Quote from: KingScorpio on May 21, 2018, 04:44:25 PM

https://coinmarketcap.com/currencies/bitcoin-gold/

Bitcoin Gold Lost quite Some value since it last time peaked at 450 usd

its now around 50 USD

what are the reasons for this price collapse?

i mean the US dollar is obviously losing value as well.

regards

The fact that Bitcoin Gold is just a fork of bitcoin with out any whitepaper and use case the real world. Possible price will increase if they have some updates to get the interest of the investors. If no update will happen or good news it will continue to drop.

#Support Vanig

Topic: Bitcoin Gold's spectacular Price Collapse (Read 216 times)