1 Level
6 Review
12 Karma
Review on Bitcoin Gold by Nghiep Huynh
Unlike the BCH fork authorities, Bitcoin Gold developers have never claimed…
Unlike the BCH fork authorities, Bitcoin Gold developers have never claimed their fork to be the “only true bitcoin”. Bitcoin Gold team has been continually repeating that decentralization is severely limited in the context of the classic Bitcoin due to the high concentration of the mining facilities on the farms for industrial mining. The majority of such farms are located in China; each farm contains a few hundred or even thousand ASIC devices under the surveillance of little amount of employees. The problem is that the major part of the bitcoin hash rate (computing capacity) is being controlled only by a couple of mining pools; the policy of these mining pools may not meet the expectations of the pool’s regular members. All of the above contradict the ideas of Satoshi Nakamoto, according to which “a single person should have just one voice” in the bitcoin-system.
Pros
- TRANSPARENCY Bitcoin Gold is a free open source software project that is built by volunteer developers and supported by a rapidly growing community of Bitcoin enthusiasts that stretches around the globe.
Cons
- The BTG team are refusing to release the project’s code for now, too, leading Coinbase to refuse to support BTG out of security concerns.
