Bitcoin Gold, a second split of the virtual currency community, is designed to make it more accessible to more users. The idea is true in and of itself, but since its inception, the Gold has only managed to bring down the value of the currency, confuse miners and make hackers happy
A new Bitcoin in the city: The virtual currency is splitting again - what began as Bitcoin and split three months ago into Bitcoin and Bitcoin Cash will now include another virtual currency - Bitcoin Gold.
The split was initiated by Jack Liao of LightningASIC, which develops tools for virtual coin mining - a move that has gained popularity in the community. Liato did not do this from his good heart: Bitcoin's mining relies on solving complex equations over time, which requires very powerful computers - hardware that not everyone can afford. Splitting the currency will allow mining by more people, which is expected to attract users and increase demand. This will make it easier for manufacturers of dedicated computer equipment to raise capital, develop hardware at a more accessible price, and increase sales.
However, Bitquin Gold began his descent into the face: the move instigated instability in the Beatocline community, which was already volatile - causing a 66% drop in currency value shortly before it was launched two days ago.
Bitcoin Gold is another step designed to decentralize the power of the community; The start of the coin is attracting new reactors, who are not happy that the rules of the game have determined older reactors with strong hardware - especially since the entire idea in Bitcoin is a trade without chains of traditional banking and government restrictions. But here, as in any free market, the power drained into the hands of those who had been stuffed in his pocket.
Virtual currency experts are debating whether Bitcoin Gold is good or bad for humanity, while some argue that power distribution will only do good to existing reactors, while others believe that all these splits are confusing for the general public and therefore will not attract more users.
Bitcoin Gold, is it good for the Jews?
If Pitcullin Gold failed, we would probably not feel it; Virtual coins are popping up and disappearing every day - a few years ago a Japanese dog named Mame, and even one named Chuck Norris, were launched. Where are they today?
But if it succeeds, new problems may arise that will also affect people outside the Bitcoin community. Cyber criminals are very fond of Bitcoin, because this is an important means of payment for them, and because for them it is a business itself. In recent years, malware has been seen taking over computers and smartphones and putting some of their computing power to cut Bitcoin. These viruses are used both for mining by burglars, and they are eligible for payment: Want to cut Bitcoin? Pay the hacker several hundred dollars for access to hacked computers. If virtual currencies reach a situation where less processing power is needed to cut a coin, it will be an incentive for hackers to use more attacks to load devices; The devices are also becoming stronger all the time - and moves by the Bitcoin community make the coin accessible to criminals.
It can be argued that hackers in any case develop malware for Bitcoin mining operations, but it is easy to forget that hackers are only human beings; The development of a long-term malware costs money, and making Bitcoin is just one of the things cyber criminals do with hacked computer networks.
Bottom line, it is easy to see that volatility is not only a feature of the bitcoin, but also of the industry behind it - when the price, as usual, will be paid by users.
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