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TürkçeBitcoin Gold Information
Bitcoin Gold is a decentralized digital currency that emerged as a result of a hard fork from Bitcoin in 2017. It aims to bring back the original vision of decentralization by allowing individuals to mine with standard GPUs, making the process more accessible to the average user. By prioritizing decentralization and democratization of the mining process, Bitcoin Gold seeks to enhance the security and resilience of its network.
Understanding Bitcoin Gold: A Unique Take on Bitcoin
Bitcoin Gold (BTG) is a fork of the original Bitcoin blockchain that aims to make mining more accessible by using an alternative proof-of-work algorithm. Launched in October 2017, Bitcoin Gold was developed to rediscover the decentralized nature of the original cryptocurrency by allowing ordinary users, rather than large-scale enterprises, to participate in the mining process.
The Pros and Cons of Bitcoin Gold
Pros:
One of the primary advantages of Bitcoin Gold is its commitment to decentralization. By using the Equihash mining algorithm, which is ASIC-resistant, Bitcoin Gold makes it possible for individuals to mine using basic graphic processing units (GPUs). This move not only democratizes the mining process but also reduces the control that large mining operations have over the network.
Moreover, Bitcoin Gold inherits some of the features of the original Bitcoin, such as security and a robust ecosystem. It also benefits from increased transparency and active development, driven by a committed community.
Cons:
Despite its advantages, Bitcoin Gold has faced several hurdles. Most notably, it suffered from significant security issues, including numerous 51% attacks. These attacks exposed vulnerabilities in the network and highlighted the challenges smaller proof-of-work blockchains face compared to Bitcoin (BTC).
The relative lack of adoption and integration by businesses compared to other cryptocurrencies also limits Bitcoin Gold's utility as a digital currency or a store of value. Additionally, the high volatility and market fluctuations make it a risky investment for conservative investors.
Bitcoin Gold's Historical Performance
Bitcoin Gold reached its all-time high (ATH) of $456.25 in December 2017, during the crypto market surge. Since then, it has experienced significant price drops, with its current price hovering around $22.38. This represents a dramatic decrease of over 95% from its ATH.
Conversely, the coin has also hit lows, with its all-time low (ATL) recorded at $4.25 in March 2020 during a broader market sell-off. Despite these fluctuations, Bitcoin Gold maintained a strong community of supporters who continue to advocate for its ASIC-resistant mining algorithm.
Future Outlook for Bitcoin Gold
The future of Bitcoin Gold hinges on its ability to further secure its network and expand its use cases. Continual improvements in blockchain security and network upgrades could enhance its stability and restore investor confidence.
Additionally, the development team needs to focus on increasing adoption by strengthening ties with merchants and building partnerships in the crypto space. If successful, these strategies could help increase Bitcoin Gold's visibility and utility.
Nevertheless, with the ever-growing competition from other cryptocurrencies and an evolving regulatory landscape, Bitcoin Gold must address these challenges to remain relevant in the broader crypto market.
Conclusion
Bitcoin Gold offers an intriguing proposition by aiming to make cryptocurrency mining more decentralized and accessible. While it has faced numerous challenges, its commitment to a more inclusive network gives it a unique place in the cryptocurrency ecosystem. As with any crypto investment, potential investors should weigh the advantages and disadvantages while keeping an eye on future developments that might impact Bitcoin Gold's market performance.
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from price
$10
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General Information |
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Title
Bitcoin Gold
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Symbol
btg
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Whitepaper
-
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Website
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Community
-
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Last Updated
2025-01-21 23:51
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Price Data |
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Current Price $
9.95
$
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High 24h
11.77
$
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Low 24h
9.39
$
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Price Change 24h
-0.60088518925374
$
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Price Change % 24h
-5.69763
%
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Market Data |
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Market Cap
174407596
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Total Volume
66159934
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Market Cap Change 24h
-10476689.735303
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Market Cap Change % 24h
-5.66662
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
17513924
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Total Supply
17513924
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Max Supply
21000000
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Historical Data |
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All Time High (ATH)
456.25
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ATH Change %
-97.81275
%
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ATH Date
2017-12-20 00:00
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All Time Low (ATL)
4.25
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ATL Change %
134.5601
%
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ATL Date
2020-03-13 02:22
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