Bitcoin Gold (BTG.X) is trading at $12.92, down -0.23% in the last 24 hours. Bitcoin Gold represents one of many Bitcoin (BTC) hard forks with a clear vision to establish a GPU-focused mining solution that would diminish the level of competitiveness dictated by ASIC miners.
When investing in Bitcoin Gold, these are some frequently asked questions:
Here are the reasons to buy Bitcoin gold (the bull case):
1. Bitcoin Gold is set to restore independence and decentralization by allowing GPU miners to regain dominance over BTG mining pools, while removing competition represented by ASIC miners that use expensive, enterprise-level mining equipment.
2. Bitcoin, which is developed by an anonymous group, doesn't have its official dev team working on new updates. This is why some investors look for more actively developed crypto alternatives, including BTC hard forks (Bitcoin Gold, Bitcoin Cash, or the first Bitcoin fork, Litecoin).
Here are the reasons to sell Bitcoin gold (the bear case):
1. Bitcoin Gold devs pre-mined thousands of Bitcoin Gold units, which deemed them as incompetent. Additionally, the team showed indecisiveness on whether BTG should be pre-mined or not.
2. Postponing the release of Bitcoin Gold source code was heavily criticized in the crypto community. BTG just like Bitcoin represents an open-source public blockchain network, so investors and crytpo enthusiasts expect to see full transparency of development operations.
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