BTG aims to extend the crypto space with a blockchain that is closely compatible with Bitcoin (with SegWit and Lightning Network). but without using resources like Bitcoin hashpower or vying for the ‘real Bitcoin’ title.
Bitcoin Gold (BTG) is a fork of Bitcoin that occurred on 24 October 2017 on block 419406. Bitcoin Gold changed Bitcoin’s proof-of-work algorithm from SHA256 to Equihash rendering specialized mining equipment obsolete in an attempt to democratize the Bitcoin mining process.
BTG is a cryptocurrency with Bitcoin fundamentals, mined on common GPUs instead of specialty ASICs. ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again – restoring decentralization and independence. GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have.
ANALYSIS OF BITCOIN GOLD(BTG) IN TERMS OF VOLUME OF TRADE.
The monthly trading volume of Bitcoin Gold(BTG) is 41,785,374 on May 27,2020.And 48,504,169 on June 26,2020.The difference in monthly trading volume within this duration is 6,718,795.The increase in percentage trading volume is 13.115 percent.
WEEKLY ANALYSIS OF BITCOIN GOLD(BTG) IN TERMS OF VOLUME OF TRADE
The weekly trading volume of Bitcoin Gold(BTG) is 48,504,169 on June 26,2020. And 36,594,572 on June 22, 2020.
The difference in weekly trading volume is 11,909,597.The increase in weekly percentage trading volume is 24.554 percent.
ANALYSIS OF BITCOIN GOLD(BTG) IN TERMS OF PRICE OF TRADE
The monthly trading price of Bitcoin Gold opens at $8.73 on May 27,2020. And close at $8.40 on June 26,2020.
The difference in monthly trading price within this duration is $ 0.33.The decrease in monthly trading price is$ 3.928 percent.
WEEKLY ANALYSIS OF BITCOIN GOLD(BTG)IN TERMS OF PRICE OF TRADE
The weekly trading price of Bitcoin Gold opens at $8.51 on June 26,2020.And close at $8.57 on June 20, 2020.
The difference in weekly trading price within this duration is $0.06
The decrease in weekly percentage trading price is $0.700 percent.
BITCOIN GOLD(BTG) PRICE PREDICTION
BTG/USD had a bullish start to this Tuesday as the price spiked from $5.87 to $6.27. The bulls are aiming to recover Monday’s losses where the price of BTG/USD dropped from $6.46 to $5.87. The SMA 200 is on the verge of crossing over the SMA 20 to chart the bearish death cross pattern indicating that the sellers may eventually take back control in the coming days.
PARTNERSHIP IN BITCOIN GOLD (BTG)
Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service
The pool announced Monday it has started working with U.S.-based crypto lender BlockFi, which will be acting like an interbank lender, providing a source of capital for Poolin.
The firm initially rolled out crypto lending offerings in February via its Singapore-registered wallet entity, Blockin. With more capital now available, Poolin will be able to extend the business to more miner customers, offering annualized interest at levels that can be below 6%.
Miners that connect to the pool currently have about 18.3 exahashes per second (EH/s) of combined computing power, accounting for roughly 20% of the Bitcoin network’s total. That makes PoolIn the second-largest bitcoin mining pool, close behind F2Pool with around 19 EH/s of hashing power.
Tokens.net Seals Partnership With Bitcoin.com as an Official SLP Partner
Simple Ledger Protocol (SLP) is a protocol for token creation on the Bitcoin Gold (BTG) chain, promoting tokenization of assets in a simple and effective way. The Simple Ledger Protocol provides electronic wallets, block explorers, social media bots, token faucets and back-end infrastructure, as well as protocols for token creation and consulting for token resources and development.
Visa partners with Fold to offer Bitcoin rewards on new cards
Visa Inc., a leading credit card company has finalized a deal that is set to boost the mainstream adoption of bitcoin (BTC). The firm joined hands with a startup known as Fold to launch a card that earns BTC rewards instead of airline miles or cash. The news was unveiled on April 9, noting that the co-branded debit card would offer its users BTC rewards as much as 10 percent of their purchases.
In an interview, Fold’s CEO, Will Reeves said that he expects this initiative to introduce a new wave of consumers to the world’s most valuable digital asset.
Bitcoin Association Announces Bitcoin SV DevCon 2020 in Partnership with WeAreDevelopers and nChain
the international industry body that works to advance business with Bitcoin SV, today officially announces that Bitcoin SV DevCon 2020 – a two-day virtual developer conference – will be held on July 18-19 in partnership with WeAreDevelopers and nChain.
The weekend-long virtual event will feature leaders from across the Bitcoin SV ecosystem teaching sessions to educate and upskill developers interested in working on the Bitcoin SV blockchain. The presentations will cover topics designed to provide a foundational knowledge of the Bitcoin network and its programming language (Bitcoin Script), as well as the practical understanding necessary to begin building powerful applications on the blockchain. Attendees will also be treated to a fireside chat with Dr. Craig S. Wright, who will discuss the origins of Bitcoin Script and the potential it represents for future blockchain endeavours.
BITCOIN GOLD(BTG) COMPETITORS
Bitcoin Gold’s main competitors include Litecoin, Ethereum, Bitcoin Cash, Bitcoin and BitGo.
BTG aims to extend the crypto space with a blockchain that is closely compatible with Bitcoin (with SegWit and Lightning Network). but without using resources like Bitcoin hashpower or vying for the ‘real Bitcoin’ title. The team aims to create a welcoming space for new devs and new technologies building on a bitcoin base. As a Friendly Fork, the team aims to offer a coin as easy and familiar to implement as Bitcoin, along with space for new ideas with a view towards creating a thriving economy and ecosystem.
All opinions expressed in the above article are solely of the author’s and do not reflect the opinion of the Global Crypto Alliance Ltd., any of its affiliations or any other company. This article is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The Global Crypto Alliance Ltd. strongly recommends that readers conduct their own research and due diligence into the company, product or service, if any, that may be mentioned in the above content.