Topic: [BTG] my Bitcoin Gold speculation (Read 2150 times)

why?

so far it's looked like nothing but an insult to cryptoland.

the scope might be there for a properly developed and launched gpu focused fork. this one ain't it.

premines and secret fee channelling are not going to endear it to most people.

I believe in bitcoingold will increase more in the future. I hope the price of bitcoin gold will increase like 1000 dollars each so we can make more profit. Bitcoincash the price is thousand dollars price and I think that happen also in bitcoingold.

by now you have probably heard about the new controversial fork of bitcoin called Bitcoin Gold or Bitcoin GPU.

i have speculated about this coin's price a couple of times in different places, i thought to make a new topic and share my thoughts here.
this is mostly a long term speculation.

---

coins that are mineable usually become the favorite of the community pretty fast. when mining them becomes profitable, they become even bigger favorites, and when they get pumped people can't shut up about them!

i believe one of the main reasons for popularity of ETH was mining of it. there is a huge community of miners with a lot of money invested in mining rigs (GPUs) who have been supporting and advertising ETH so far.
with the hard fork (first step on October 16 reduction of block rewards from 5 to 3), this is going to stop.

all this hashrate needs to go somewhere. where else better than something with bitcoin name in it.

with that said my speculation is that if miners really migrate to BTG chain and start mining it, advertising, hyping and pumping it, this coin can gain some fast popularity out of nowhere and even replace ETH in the bags of investors. essentially gaining the same price even!

there are two big issues though. and that is the premined coins that goes to the developer. but by comparison ETH also had the same kind of premine (even bigger).
the other is the airdrop. BTG is practically giving away 16,617,000+ coins although this will create a short term dump and as i said i am aiming more for the long term speculation

---

so where do you see BTG price in long term?
can it reach $300-$500 in a couple of months after release?

HitBTC's price is better than Bitfines now. But the problem, people didn't trust that much in BTG after BCC fail. I instantly sold my BTG coins after they are credited to my account.

In short run, it may be up to $300, but no more than this.

Price right now is a total mess:

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

from $100 to $350. I can make another speculation - this Gold "coin" will not even run and will stay only as exchange futures.

after bitcoin gold release later i predict its price could be $500 or even more, but after few months i think bitcoin gold will be big dump and in future i am sure bitcoin gold price is only $300 or even cheaper.
whether there will be another fork after this? bitcoin silver, bitcoin bronze or bitcoin credit

I was in the understanding that BTG would be credited at nov 1. However I see it traded in quite a few places already; did some exchanges/wallets already credit BTG?

Apparently you can already trade on some Exchanges. I think on YoBit you can already trade BTG. The price will surely drop more on November. A little like Bitcoin Cash.

IMO I think BGold will have a flash dump from all the BTC forkers getting essentially free money. However, once the miners get on board, BGold can maintain a solid price and gain in popularity.

There is a lot of FUD going on about BGold, so right out of the gate will be the dump. I would short it at first, then buy in after the dump.

Personally, I will prepare for the fork and get my little chunk of BGold, flash sell with all the other dumpers, and then buy back in at cheap price.

This coin is traders vs miners, the traders will win short, but the miners will win long.