Bitcoin Gold (BTG) Crypto Review: Another Hard Fork?
Bitcoin Gold (BTG) I will be reviewing BTG as a crypto investment often people message me asking why I don’t write about Bitcoin and to be honest I have two reasons one of the reasons is that many established websites have already covered the topic. Another reason is that I don’t share the current vision of Bitcoin or its forks aka rich people fighting with one another. I believe that Satoshi Nakamoto must feel a sense of disgust of what a spectacle it has all become. Regardless of what has become of everything I would be lying if I said I have not benefited from all of these recent hard forks.
I chose to review Bitcoin Gold because I wanted to inform people about the investment potential of this crypto project and the inherent risks associated with it. In this crypto investment review, I will be covering four crucial areas that I consider before making any significant investments. The Four key areas I am reviewing will be the following:
* Introduction- What is Bitcoin Gold?
* The Team- What is their motivation behind the hard fork?
* Marketing- Are they developing a proper marketing strategy?
* Investment Analysis- Can I make money investing in BTG?
Bitcoin Gold (BTG) Crypto Review: Introduction
Bitcoin Gold is a Fork from the popular Bitcoin blockchain At block 491407; Bitcoin Gold miners will begin creating blocks with a new proof-of-work algorithm that branches off of the Bitcoin blockchain and forms a new cryptocurrency.
The Vision of the new cryptocurrency is not to compete with Bitcoin but to create a more decentralized, and fair mining infrastructure that is more resilient and more in line with Satoshi’s original vision.
Bitcoin Gold has an undetermined market cap and an unknown circulating supply of coins. We do know however that there is a total supply of 21,000,000 BTG coins similar to the overall amount of Bitcoins.
If you wish to purchase or day trade then the Binance exchange would be one of the best choices as it is easy to use and has lower fees then most crypto exchanges. To store BTG safely, I would recommend using a hardware wallet such as Trezor or Ledger wallets.
It should be noted that currently, scam accusations are making rounds on the internet that suggest the Bitcoin Gold wallet listed on the official website has stolen users BTG after they have downloaded the wallet. Rumors are that the developers could be behind this scam. You can view some of the recent complaints on Bitcointalk or by doing a quick Google search. It’s also crucial to note that the BTG team has not responded to the recent scam allegations.
Furthermore, if your computer has a decent GPU or perhaps you are an experienced miner, you may wish to mine BTG right now as it’s currently profitable to mine and a lot safer then purchasing it. If your new to mining Minergate is an excellent choice as it’s UI is simple to use but if your an experienced crypto miner they have listed a few miner pools on their website.
Bitcoin Gold (BTG) Cryptocurrency Review: The Team
The founder of BTG Jack Liao is a businessman based in Hong Kong he owns LightningAsic, a company that specializes in selling GPU Miners and ASIC miners. The lead developer of BTG goes by the anonymous nickname h4x3rotab. There are also four other team members who assist with the BTG development.
Personally, I don’t like the fact that the lead developer is anonymous as I usually prefer the whole crypto team to be transparent before I would consider investing in a project.
However, the project does have strong support within the crypto business community many prominent exchanges, mining pools, and wallets are supporting this crypto project.
Bitcoin Gold (BTG) Blockchain Review: Marketing Strategy
They have a significant presence on popular social media sites such as Facebook and Twitter. I believe It should be known that on FB there are many comments claiming that BTG has scammed them. I was unable to locate a BTG community on Reddit which I find troubling as most crypto projects do prefer to use Reddit to communicate with its investors.
Bitcoin Gold (BTG) Crypto Review: Investment analysis
Investing in cryptocurrencies is risky enough but investing in BTG is even riskier than most projects. If you wish to be involved in the BTG project, I would recommend mining the coins instead of risking your hard earned money by purchasing it on exchanges. I believe short-term traders that are experienced could profit off of the volatility, but still the project has a lot of red flags that you should consider before investing.
(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)