From the last Bitcoin hard fork, Bitcoin Bash (BCH) was born.
I was convinced BCH would die quickly. Man, was I wrong.
It's still trading at around $300 dollars each today.
Now a new fork is coming. It's called Bitcoin gold.
Bitcoin Gold will use an algorithm called Equihash for mining, which is “ASIC resistant”.
This means it is designed to discourage the use of ASICs for mining. Instead, Equihash is written so that graphics cards offer the most efficient way to mine coins based on it.
All these forks remind me a little bit of the time I got into Bitcoin in 2013. There were so many coins back then all derived from the Bitcoin protocol with a few tweaked parameters. (faster block time, more coins per block, more total of coins).
I mined some of them. I remember names like Leafcoin and Marscoin. I still have them but now they are useless and valueless. I will be surprised if I can even sync the chain on these coins.
These new Bitcoin forks are more 'advanced' I guess but to me, they feel similar.
The success of Bitcoin Cash I don't think many foresaw. But if this Bitcoin gold proves to be successful, I'm sure it will open a floodgate of new Bitcoin XYZ coins.
I have Bitcoin so I get all these new coins which is nice. It is free money after all.
But I rather would have one stable Bitcoin.
I talk about more in my vlog and also talk a little about STEEM.
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