Wednesday, October 25, 2017

About BTC Gold - BTG


Bitcoin GPU is a full node implementation of the bitcoin protocol. Find out everything you need to know about this potential hard fork – also known as Bitcoin GOLD and BGOLD – today.

What Is Bitcoin GPU?


Bitcoin GPU is a possible upcoming hard fork in the bitcoin protocol. Just like the hard fork from the beginning of August, the Bitcoin GPU hard fork could result in more “free” duplicate bitcoins for you.
The full node implementation is also known as Bitcoin GOLD or BGOLD. It comes with the symbol BTG. Everything we know about this currency comes from its official website at BTCGPU.org.
The protocol plans to fork off the main chain, then use an ICO to ensure the BTG chain becomes the longest blockchain. During the ICO, you’ll be able to purchase 10 BTG for 1 BTC.
The entire proposal is awkwardly worded online at BTCGPU.org. That website mysteriously features the Bitcoin Cash logo. It also features nonsensical sentences like, “GPU mining can protect Bitcoin Key value: decentralize.” What?
The website describes the proposed hard fork as “an implementation of bitcoin peer-to-peer electronic GOLD.”
The main purpose of Bitcoin GPU is to implement a user activated hard fork proposal to accept GPU mining. Under Bitcoin GPU, miners can choose the size of the blocks they want to mine, with a default block size of 1MB. However, it’s unclear how the proposal plans to achieve that, or any technical merits behind the project.

How Does Bitcoin GPU Work?

BTCGPU will create 16,000 blocks after it forks from block number 478558. Every block comes with 12.5 BTG in rewards. The BTG will be sold to ICO investors at a rate of 1 BTC = 10 BTG.
Money raised in the BTG crowdsale “will used to hire developors, advertisement, etc.” explains the official website (yes, spelling and grammar mistakes included).
Ultimately, nobody on the internet can really figure out what BTC GPU is talking about. The paragraph below is the word for word description on the front page of BTCGPU.org. See if you can understand what they’re trying to say:
“Once Bitcoin ABC forked Bitcoin, BTCGPU will be activated at the same time. It will be 1M+SW . when the block size is full again, will en-crease the block size to 2M,4M…When mining? When code development is done, starts to mining. The developer is working hard on it. It will support original smart contract. If needed, hard fork again to support original smart contract. not side chain smart contract.”
That’s all of the information we get from the official website. I have no idea what any of that means, or how Bitcoin GPU plans to change the future of bitcoin. Fortunately, “the developer is working hard on it.”
All we can really get is that the Bitcoin GPU proposal involves 1MB default block sizes + SegWit initially, then will increase the block size to 2MB and 4MB. There’s also some plan to implement smart contracts into the blockchain.
Meanwhile, the BTCGPU.org website features links to the source code, specs, and binaries for the project – although all of these links are broken. So it appears BTC GPU, Bitcoin GOLD, or BGOLD has no working protocol in place.

Bitcoin GPU Features

Robust: Bitcoin GPU aims to build on the stability of the Bitcoin core blockchain “with improved code quality.” Development will follow “a process of continuous integration, based on industry best-practices.”
Scalable: Bitcoin GPU implements the user activated hard fork (UAHF) proposal to accept GPU mining. Miners can choose the size of the blocks they want to mine, with a default size of 1 MB. It also includes replay and wipeout protection.
Built for the Future: Bitcoin GPU’s official website claims that bitcoin has been held back by “the centralize mining industry” for too long. Bitcoin GPU plans to help bitcoin embrace the future with on-chain scaling and other features.

Bitcoin GPU Conclusion

Ultimately, the Bitcoin GPU website is written in barely-intelligible English. It’s like it was written by a child. It poorly explains the characteristics of GPU, and it does a terrible job of explaining why you’d want to trade 1 of your bitcoins for 10 Bitcoin GOLD tokens.

You can probably safely ignore the BTC GPU proposal and their UAHF. However, to learn more about the project for yourself, visit it online at BTCGPU.org today.

Donation

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