As decentralization is one of the pillars of blockchain and cryptocurrency spheres, ASIC can be seen as a problem because they create a threat to it. Apart from being unavailable for mining with ASICs, Bitcoin Gold has nothing new if compared to Bitcoin.Ĭutting ASIC-miners off the network is regarded as a benefit by some. BTG is based on the Equihash function which preserves the network from ASIC domination and makes it possible to mine BTG using relatively cheap hardware. The keen home miners needed something different and Bitcoin Gold (alongside other new miner-friendly coins) made the case. In 2017, the hashing function used for Bitcoin SHA-256 was already incompatible with CPU / GPU mining due to the spread of ASIC (Application Specific Integrated Circuit) miners. In terms of the novelty of Bitcoin Gold, the coin was designed to be ASIC-resistant and be friendly towards enthusiast miners. The coin is traded on many exchanges and supported by many of the multi-currency wallets. It grants BTG a place at the top 100 list of cryptocurrencies with the biggest market capitalization. As for now, Bitcoin Gold has a price of around $9 and a market cap of over $6 million. These security breaches didn't stop miners and traders from using Bitcoin Gold although some of the exchanges treated these incidents as intolerable (for instance, Bittrex eventually de-listed Bitcoin Gold). The website was struck by DDoS-attack in October 2017 while the network survived two 51% attacks in May 2018 and January 2020 with hundreds of thousands of BTG stolen as a result. However, it was the overall crypto market trend and not the special thing about BTG.īoth the website of Bitcoin Gold and the network itself was exposed to attacks. In the early days, the price peaked at $539 and then after the crypto downfall that took place in 2018, BTG lost most of its value. So the new Bitcoin hardfork landed in the BTC owners' wallets and quickly gained attention amidst the hype and growing market. That was the right time to spring on the crypto market as it was booming in late 2017 reaching its peak in December/January. Preparations for the Bitcoin Gold Miningīitcoin Gold forked from Bitcoin in October 2017.Considering the fact that BTG can be mined via a GPU-based rig, this coin is the one to try. As of December 2020, on HitBTC it costs over 9 USDT. There are coins that are relatively easy to mine and are valued in the crypto markets. No use in thinking that home mining isn't profitable. As Bitcoin mining became no good for those who don't own a data center packed with high-end ASIC devices, people make money out of mining altcoins.
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