On November 12, 2017, BitcoinGold was released. Bitcoin is the fork of the Bitcoin blockhain. The developer of Bitcoin Gold is backed by LightningASIC, a seller of mining hardware based in Hong Kong. The premise of Bitcoin Gold is to maintain most properties of the protocol, “but also to restrict the use of specialized chips for mining, or the process by which new transactions are added to a blockchain.” Moreover, anyone who owned Bitcoin should know that new coins will be distributed. But there’s a problem that many have criticized about Bitcoin Gold. Apparently a certain number of coins were put aside to support development, that is, these coins have been mined in isolation. It is still too early in the game to see how Bitcoin Gold will do, especially as it relates to the exchanges. Once again, we have to iterate that all crypto currencies, except Bitcoin, are speculative. It remains to be seen how the more than 1000 crypto currencies will fare in the near future. And the crypto craze continues. We would be remiss if we did not note the following:
Bitcoin Cash (BitCash), another cryptocurrency that forked the Bitcoin network, amassed nearly $4 million in market value. Does this mean that BitCash is the number two crypto currency to buy? No. As we have indicated, there is no current site that relates to BitCash other than what it is. Thus, we have to warn those who are trying to get in on the crypto craze early to be aware of these speculative investments.