Okay what is going on with all these Bitcoin forks. Are you confused AF?
In at present’s video I clarify what’s been happening with all of the totally different Bitcoin onerous forks, particularly Bitcoin Gold, Bitcoin Cash and Segwit 2x (occurring round 12-13 Nov).
The motive all these variations of Bitcoin are occurring is as a result of builders don’t see eye-to-eye.
Here’s the deal: Bitcoin was the unique cryptocurrency and as extra individuals began utilizing it, it seems the expertise couldn’t deal with all of the transactions occurring. It’s like a 8-lane freeway stuffed with vehicles funneling right into a single lane, it will not work.
Segwit 2x is a proposed resolution to patch up the unique Bitcoin, doubling the quantity of transactions Bitcoin can deal with.
Certain builders thought this was a lower than ideally suited resolution and would solely be a brief repair, that is the place Bitcoin Cash happened, which may deal with 8x the quantity of transactions Bitcoin can, fairly than Segwit’s 2x.
Bitcoin Gold is a wierd fork as a result of all I can see about it’s that the aim of it’s to make mining simpler and “decentralized”. To me plainly Bitcoin Gold is a means for a choose group of builders or people to create their very own Bitcoin chain to allow them to revenue off mining it, and it doesn’t appear to have any technological benefits on Bitcoin itself.
Here is the official Bitcoin Gold roadmap: https://btcgpu.org/wp-content/uploads/2017/10/BitcoinGold-Roadmap.pdf
Official web site: https://bitcoingold.org/
Disclaimer: This is NOT monetary recommendation, and I’m not related to Bitcoin Gold in any means, form or type.
This is solely my opinion concerning the topic for instructional functions and will or is probably not factually correct.
Please do your individual analysis.
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