Category Archives: Fork

Bitcoin Gold (BTG), Bitcoin SegWit2X (B2X), Fork, News, SegWit2X

A Bitcoin Beginner’s Guide to Surviving the Bgold and SegWit2x Forks

It looks as if Bitcoin will experience at least two more “coin-splits” soon, which (more accurately) will result in the creation of new coins.

On October 25, Bitcoin Gold (Bgold) will split off from Bitcoin to create an ASIC-resistant cryptocurrency. A few weeks later, a significant group of Bitcoin companies wants to hard fork according to the SegWit2x plan as defined in the “New York Agreement” (NYA), which will probably result in yet another new coin.

Bitcoin Gold (Image: Bitcoin Investors UK)
Bitcoin Gold (Image: Bitcoin Investors UK)

If this all plays out, there could be three distinct blockchains and three types of coins within about a month of publication of this article. One blockchain would follow the current Bitcoin protocol; for the purpose of this article, that coin will be referred to as “BTC.” The second blockchain will follow the Bgold protocol; in this article, that coin will be referred to as “BTG.” The third blockchain will follow the SegWit2x protocol; that coin will be referred to as “B2X.”

The good news is that each BTC will effectively be copied onto both the Bgold and the SegWit2x blockchains. If you hold Bitcoin private keys at the time of the forks, you should be able to access your BTG and B2X coins as well.

The bad news is that such forks can be somewhat messy and risky. If you’re not careful, it’s easy to lose your BTC or B2X, and maybe your BTG.

Read more: Bitcoin Magazine

Bitcoin (BTC), Bitcoin SegWit2X (B2X), Fork, News, SegWit2X

2x or NO2X: Why Some Want to Hard Fork Bitcoin — and Why Others Do Not

A group of Bitcoin companies plans to deploy a hard fork to double Bitcoin’s block weight limit to eight megabytes this November. Known as “SegWit2x,” this incompatible protocol change follows from the New York Agreement (NYA) and is embedded in the BTC1 software client.

SegWit: Scaling Bitcoin (Image: Segwit.co/Wikimedia)
SegWit: Scaling Bitcoin (Image: Segwit.co/Wikimedia)

SegWit2x is highly controversial. Most of Bitcoin’s development community, a number of other companies, some mining pools and — if public polls and futures markets are representative — a majority of users and the market are not on board with this hard fork. Some of them are even engaged in a sort of protest movement, under the banner “NO2X.”

For those who have not kept up with the debate, here’s an overview of the main arguments for and against the 2x hard fork part of SegWit2x.

Read more: BitcoinMagazine

Bitcoin Gold (BTG), Fork, News

Another Fork? Bitcoin Gold Project Plans to Fork Bitcoin

After the hard fork on August 1 that produced Bitcoin Cash, many bitcoiners have been waiting for the possibility of a fork taking place this November with the Segwit2x plan. However, a lot of bitcoin proponents don’t know about another fork called “Bitcoin Gold” (BTG) that’s scheduled to take place on October 25th.

Gold bullion (Image: Stevebidmead/Pixabay)
Gold bullion (Image: Stevebidmead/Pixabay)

Yes, you read that correctly bitcoin enthusiasts might see another hard fork this October that produces another token called Bitcoin Gold. The project first announced on Bitcointalk.org in July was created by Jack Liao, the founder of Lightning ASIC a mining firm based out of Hong Kong and an anonymous developer named “h4x3.” The forked protocol aims to change bitcoin’s consensus algorithm allowing users to mine the currency with graphic processing units (GPU) among other changes. According to the development team, Bitcoin Gold will use the Equihash algorithm used by the altcoin Zcash rather than bitcoin’s original SHA256.

Read more: News.Bitcoin