Bitcoin Gold
Crypto Overview
Project Overview
Bitcoin Gold (BTG) was created in 2017 as a hard fork of Bitcoin, with the stated purpose of restoring GPU mining capabilities to a Bitcoin-like blockchain. The project aims to make mining more decentralized by using the Equihash algorithm, which is ASIC-resistant, theoretically allowing regular users to participate in mining with consumer-grade hardware.
Intended Utility
The primary intended utility of BTG is to serve as a decentralized digital currency while maintaining more democratic mining accessibility. The project emphasizes the importance of keeping mining accessible to individual users rather than large mining operations.
Actual Utility and Adoption
Bitcoin Gold has struggled to achieve widespread adoption. While it maintains active development and a functional network, its real-world usage remains limited. Trading volume and mining activity are relatively low compared to major cryptocurrencies. The project has maintained consistent development activity, with regular updates to its core software.
Token Distribution and Founder Analysis
The initial distribution included a pre-mine of 100,000 BTG (approximately 0.476% of the total supply) for the development team and future ecosystem development. This amount is relatively modest compared to other cryptocurrency projects. The development team has maintained transparency about the use of these funds.
Technical Infrastructure
The project maintains its own blockchain with regular updates and security improvements. After surviving a 51% attack in 2018, the team implemented additional security measures, demonstrating commitment to network security and sustainability.
Crypto Impact
To assign a comfort level investing in Bitcoin Gold from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin Gold.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.