Correction: Fork is scheduled for Oct 25th, I spoke the wrong month.
Bitcoin gold is a proposed hard fork on the Bitcoin network that will change the proof of work algorithm to equihash. The main advantage of this is to break the reliance of bitcoin on ASIC mining and switch to GPU based mining. When the fork happens, this will cause a chain split, and all bitcoin wallets that have bitcoin prior to the split have both bitcoin and bitcoin gold (not bitcoin cash)
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Hi boxmining,
Nice work sir
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Thank you for the information! You have a great way of simplifying content and making it user friendly to read. Keep it up!
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Will be interesting to see if a POS Bitcoin fork will appear too, I wouldn't be surprised.
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Thanks for the info. So, if I have my BTCs at Coinbase I need to move them out, right? Or, do you think that Coinbase will honor the fork like with Bitcoin Cash?
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Oy. Currency forks are effective, if not healthy, for the path toward development. But every time a forked coin appears on exchanges, it increases the risk of exchange bankruptcies. After all, there's only so much fiat money that an exchange holds pre-fork, and their coffers don't magically populate with more USD after the fork. Thanks for the vid tho, boxmining :)
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Do you think this is why alts are not gaining at the moment because people trying to hold/buy as much BTC for this fork?
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interesting !!!
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i actually have some faith in this. i mean people love new things. even if this only takes off for a couple of days like btc cash, as long as people know that they will profit and get something for basically just keeping bitcoin.
Think of it as getting free money for holding on to money. after all the common dolphin cant really control what's goin on in this market.
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What happens to bitcoins on bitfinex when bitcoin splits. Read somewhere we will get btx. Is that correct?
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Thank you very much for a very great and simple explanation :-) free money (Y) <3
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