CryptoCurrency

GPU Mineable Bitcoin Gold Released | Initial BTG Price And Market

Published on October 28, 2017

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Bitcoin gold, the Revolutionary GPU mineable coin is finally here. As we all know that the driving force behind every cryptocurrency is the technology called Blockchain, on which the coin fully relies. Just like that, the BTG also known as Bitcoin Gold is supported by the blockchain unit.

Also Read: Why Rules & Regulations Are Important For BitCoin

As we saw a few days ago bitcoin had a hard fork which is still under process to create the new coin Bitcoin gold, the main idea behind bitcoin gold is to reduce the blockchain stress and implement a safe more secure transaction experience. Just like this when the bitcoin cash released by the fork back in the month of August the bitcoin holder got the equal amount of bitcoin cash as that of bitcoin. This time the idea is just the same bitcoin holders going to get the equal amount of bitcoin gold with a worth of price of bitcoin gold in it.

But something unusual happened just before the release of bitcoin gold gets down, the official website of bitcoin gold encountered with Massive DDoS Attack and the website went down.

Massive DDoS attack on our cloud site. 10M requests per minute. We are working with the providers to ban all the IPs. We will be up soon!

— Bitcoin Gold [BTG] (@bitcoingold) October 24, 2017

The creation of BCH Bitcoin Cash was having the solution to reduce bitcoin scaling problems, but the creation Bitcoin Gold is to re-decentralize the mining of bitcoins.

As initially, Bitcoin release something that people could mine, but with the humongous price change and block size difficulty increased, no one expected that so. The new is the fact that Bitcoin Gold can now be mine by the GPU Unit in the computer, helps in completing the transaction by solving the block.

Mining Of Bitcoin Gold

From past few months, the miners having hard time mining cryptocurrencies as with the high difficulty level getting every single day. Now with the release of bitcoin cash comes with some hope to mine a new cryptocurrency with reasonable profits, now we have to see if it’s going to make up to the Best mineable cryptocurrency list or not.

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Forks Bring the Market Change

As the fork happens comes with a great opportunity to trade or invest in these cryptocurrencies, as it market value goes continues ups and downs during this period. I personally myself did some trade during this much change in bitcoin price and end up with 40-50$ profit in 2 days (i am newbie to the trade) but still reasonable about to earn.

Read about effect on Bitcoin price on hard fork

@bitcoinwisdom shows continuous ups and downs Bitcoin Price during fork

The Price Of Bitcoin Gold

With release of Bitcoin Gold, the price reveals to be around 800$ with the first block mined and very few people holding bitcoin gold. The market value pulls down to stabilize as more and more people joined the the Coin.

Bitcoin Gold Graph During Fork @coinmarketcap

Pulling down to around 110$ is worth the initial price of bitcoin gold to start with, but it would be expected pull up when the mining of the coin starts and more people get their hands onto it.