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Bitcoin Gold

Bitcoin Gold
Ticker symbol BTG
Code repository
Development status Active
Forked from Bitcoin
Written in C++
Operating System Windows, OS X, Linux
Source model Open source
License MIT License
Timestamping scheme Proof-of-work
Hash function Equihash
Block reward 12.5 BTG (approximately to mid 2020), halved approximately every four years
Block time 10 minutes
Block explorer
Circulating supply 16,796,586 BTG (as of 31 January 2018) [1]
Supply limit 21,000,000 BTG
Market cap $2.59 billion USD (as of 31 January 2018)

Bitcoin Gold is a hard fork of the open source cryptocurrency Bitcoin. The fork occurred on 24 October 2017, at block height 491407.[2][3][4] The stated purpose of the fork is to restore GPU mining functionality to Bitcoin, as opposed to specialized ASICs with entry prices in the thousands of dollars.[5][4]

Differences from bitcoin

Bitcoin gold uses a SHA-256 proof-of-work algorithm to the Equihash ASIC-resistant algorithm, originally from Zcash.[6] The Bitcoin Gold team used ‘post-mine’ - a mining of 100,000 coins after the fork had already occurred. The team did this via a rapid mining of approximately 8,000 blocks at 12.5 BTG per block. The bulk of premined coins have been placed into an ‘endowment’, and according to the developers will be used to grow and maintain the BTG ecosystem. However, of the 100K coins, some five percent were set aside as a bonus for the team, or about 833 coins for each of the six members.[7]

Criticisms and controversies

A few days after the launch of the mainnet miners started accusing developer Martin Kuvandzhiev (StarbugBG) of adding a hidden 0.5% mining fee in the z-nomp code fork the team suggested to use. Suprnova and other mining pools allegedly found the hidden fee and removed it after examining the code causing some to speculate that the removal was related to why many found blocks didn't show up as paid to the finder and why Suprnova's chain was out of sync.[8]

The online wallet provider prompted users to enter their private keys or recovery seeds. An analysis revealed that the code contained a line to convert the entered passphrases into Google Analytics cookies that could later be retrieved.[9]


  1. ^ "Bitcoin Gold (BTG) price, charts, market cap, and other metrics - CoinMarketCap". 
  2. ^ "Block #491407". 
  3. ^ "Bitcoin Gold Roadmap" (PDF). 
  4. ^ a b Lee, Timothy. "Get ready for a wave of Bitcoin forks". arstechnica. Retrieved 2017-12-01. 
  5. ^ van Wirdum, Aaron. "A Bitcoin Beginner's Guide to Surviving the Bgold and SegWit2x Forks". Bitcoin Magazine. Retrieved 2017-10-15. 
  6. ^ Aaron van Wirdum (Oct 11, 2017). "Bitcoin Gold Is About to Trial an ASIC-Resistant Bitcoin Fork". BitcoinMagazine. 
  7. ^ "Bitcoin Gold Clarifies Premine Endowment". Cointelegraph. 19 November 2017. 
  8. ^ Jamie Redman. "Bitcoin Gold Developer Under Scrutiny For Allegedly Hiding Mining Code". 
  9. ^ Nikhilesh De. "Bitcoin Gold Wallet Scam Nets $3 Million in Illicit Earnings". Coindesk. 

External links