April 15 2022
Bitcoin Gold – How To Get Your Piece of The Pie
On November 12, the Bitcoin Gold network went up and running. Initially, the network has undergone a massive Denial of Service (DOS) attack. But it recovered back very soon. Now you can learn how to get Bitcoin Gold.
If you’re the owner of Bitcoin (BTC) before and during the fork, you can get the equivalent amount of Bitcoin Gold (BTG). It works if you have access to the private keys aka the Bitcoin.
Note that, if you are holding the BTC in a Cryptocurrency exchange, it is up to the exchange to provide the corresponding amount of Bitcoin Gold.
But, if you had held the BTC in the exchange since the fork, eventually, you can transfer the coin to a cold storage wallet and gain control of the private keys.
Bitcoin Gold Wallets
Now that you have the Private keys, just move a copy of them to the supported wallet. Or if you’re using the multi-currency wallet that supports both BTG and BTC, depending on the wallet you will get corresponding BTG automatically.
Follow the Bitcoin Gold website for the list of supported wallets.
Mining Bitcoin Gold
The principal reason for creating the BTG is to make mining ASIC (Application Specific Integrated Circuits) resistant. So, you cannot use your SHA-256 algorithm specific mining hardware.
However, the Equihash, the Bitcoin Gold mining algorithm is more dependent on RAM than the CPU. That said, you can start building GPU rigs to start mining.
Where to get BTG?
If you are a mining geek, well, you know the best option.
Bitfinex, Binance, HitBTC, YoBit are some Cryptocurrency exchanges trading Bitcoin Gold.
After a two week long anticipation the main-net is live. What started as a joke on BitcoinTalk forum, is finally, on its way to becoming a success.
Only time and value can tell whether all these forked currencies are a threat to Bitcoin or not. What do you think?