What Is Bitcoin Gold? The Upcoming Hard Fork – 088

hello everybody welcome back for another video hope you’re all doing well and having a great day well it’s about that time for those who don’t know at the moment which should be just about everyone we have Bitcoin Bitcoin cash if you go to coin market cap and scroll down a bit around to number 49 there’s actually something called Bitcoin dark which is surprisingly resting around 97 dollars a coin and it looks like if the next hard fork works out for group of developers we could have wait for it Bitcoin gold probably the swankiest name of all the bitcoins yet as you know I assume they’re only gonna get less interesting after Bitcoin gold so this entire dish ative is being led by someone named Jack liao Li a Oh who is the head he’s the head and the CEO of a cryptic mining company in Hong Kong known as lightning ASIC ASI see it appears as of now Bitcoin gold will launch October 25th the same as I think that we saw with um Bitcoin cash it launched about five or six days earlier I was trading in like the futures market if you will and then it eventually became live and the same exact thing that will happen with Bitcoin gold it will launch on October 25th and then will be put on two exchanges around the world on November first or rather exchanges that accepted or once actually deal in it but it looks like at this point it should be everyone as I go along so that comes out – now for bitcoins that will have by the beginning of November this is is it’s kind of ridiculous at this point this will without a doubt caused another major rip in the cryptocurrency community we’ve gone to we’ve had one Bitcoin in January and now we have four over the course of just one year and like this one similar to Bitcoin cash or why Bitcoin cash came into play there are a lot of people who believe that they in particular know exactly what’s best for Bitcoin the Bitcoin project a Bitcoin future and everything that should that it entails every single thing about it and this is the reason why we have these Forks happen all the time Forks are just updates on the network but there are people who believe that during these Forks they can take advantage they can make their own coins we they know what should be done on the network and what kind of upgrades should be implemented for a Bitcoin so that it has a brighter future I can without a doubt tell you by 2020 we’re gonna have between 8 to 10 different Bitcoin out there I don’t know how I know that’s not gonna be good for the market like I mean we’ve already seen Bitcoin cash hasn’t really it’s caught on you know people are definitely trading it but Bitcoin still has the higher numbers because a lot of people are seeing Bitcoin cash is more of a clone so I assume the the price of Bitcoin gold will only be a bit lower unless they come out with some crazy upgrades that we couldn’t have ever imagined in our entire life but continuing on so the goal of this group of people who are creating Bitcoin gold they want to they say to completely decentralized Bitcoin again this is an argument that we’ve seen time and time and time again the original Bitcoin in some way shape or form of another is actually controlled by miners whether you want to believe that or not the people who create the coins are the miners the people who verify the transactions or a large bulk of their transactions are the people who have the computing power to do all these things also create the coins there are also constant clashes between them and the Bitcoin developers on an almost daily basis if you read around they’re just constant problems between miners and the people who are behind the Bitcoin project but the Bitcoin gold people wants to stop all of this they want bitcoin gold to have more miners than there are already in the traditional Bitcoin they say that this is a problem because it is decentralized it is centralized in this way that we literally don’t have control over it which it was supposed to be something that everyone would have in their pocket that everyone could use that everyone could you know have a slice of the pie but there are literally tons of people out there who have gigantic factories that it is filled with thousands of computers and they are controlling the entire thing so they want to stop all of this and they plan on doing so and I quote they say Bitcoin gold will implement a proof-of-work change from bitcoins sha-256 which is what they have to something called eco has equ ih a sh which is a memory memory hard algorithm that is ASIC resistant and optimized for GPU mining and quote this comes from one of the developers on the project known as the sorrow that is f o RR o w as in the word sorrow even more continuing if you will this coin is again created by or from or in China by people inside of China you know the reason the markets are constantly being thrown around at the moment even with that aside complete details of the exact block that this will happen on are apparently still up for discussion one of the head developers for Bitcoin gold has says that the project is still evolving they really don’t have that much time left for it to evolve we have about a month left so they better better give it a rare candy or something like that and that the finalization is for the project are still up for discussion it appears however at this time that Bitcoin holders will also be receiving Bitcoin gold in the same way that they received Bitcoin cash which is great if you have a large amount of Bitcoin just a quick side note I know rather I don’t know but I know that there are people out there who do have a large amount of Bitcoin and if for any of the listeners out there who are holding more than one hundred Bitcoin or even ten Bitcoin right now I can only assume that you are ecstatic over this news because you’re constantly receiving free money over and over and over it’s it’s going to be very very interesting to see all these Forks keep happening from the Bitcoin network so if these if they continuously keep forking whenever they want to or whenever they find the opportunity to and keep creating all these free coins Bitcoin holders will literally just continuously keep getting free money as the years go on absolutely incredible it it feels like to me at least that the end goal for the developers is just money because if you really believed in Bitcoin you would just simply buy Bitcoin there was the thing they were actually thinking of launching an ICO for this as well which is also very interesting because why would you launch an ICO these things just come back to money from me they all come back to these people are just trying to make money and apparently during their ICO it was in the the fine print if you will it said that they would that the developing team would see one percent of all the Bitcoin gold that would be pre mind that would come out of this entire thing which means that they were literally just doing it for the money but that has apparently since since been taken out of the entire thing and then oh I see oh is happening but this will still be launched and I assume they’re gonna find ways to get the Conant they’re also creating but yeah guys this is definitely happening it looks like there’s a lot of indications that this will not simply just pass us by we will have for Bitcoin within the next month and a half so get ready for that hopefully I really hope you don’t have any more by December but we’ll see what happens alrighty guys I just wanted to pass on that news to you hope you enjoyed it if you will hope you are having a great day as usual and I will talk to you soon see you hey everyone thank you very much again for watching I hope you guys enjoyed if you guys would like to help me and the channel there are ways to do so in the description below thank you very much and talk to you guys soon you