So you know that Bitcoin fork from back in 2017? The one that was designed to fight the Bitmain monopoly by being ASIC-resistant? Well here are a few things you probably don’t know about Bitcoin Gold right now.
Bitcoin Gold (BTG) was a top-five coin by market cap back in the day, believe it or not. So why did it tank its way down 40th place, and how come you never hear about it anymore? Here are four things you probably don’t know about Bitcoin Gold.
1. Bitcoin Gold Name Is Just an Accident
Speaking to one of Bitcoin Gold’s co-creators, Alejandro Regojo, last week, a Bitcoinist reporter wondered what the story was behind the name.
If like many, you automatically assumed that it was given that name to create the association with digital gold, you’d be wrong.
Regojo replied, “it’s just a name that we thought sounded good, we weren’t trying to create an association between Bitcoin and gold.”
Still, one has to wonder as Bitcoin’s status morphed from “magic internet money” to “digital gold”, whether that had some impact on its brand. Was that the cause of the drop?
2. Satoshi Nakamoto Is Its Creator
Another curiosity that was discovered while conducting research before the interview, was the fact that Regojo’s job title seemed to change almost everywhere it was mentioned, from Co-creator and co-founder to developer.
While you’ll see him cited as a “co-founder” on the Bitcoin Gold website, he’s actually not comfortable with that role–and neither are the rest of the team. That would mean they “founded Bitcoin Gold” when they really see it as a version of the original, whose founder is Satoshi Nakamoto.
If you weren’t aware, BTG was initially created as a hard fork of Bitcoin in 2017, designed to keep mining fair for individuals and “fight the Bitmain monopoly.” However, Regojo points out that unlike Bitcoin Cash or Bitcoin SV, Bitcoin Gold has never been in competition with Bitcoin.
Its community merely wants to…