Projects Review

A closer look at Bitcoin GoldSk’s suspicious activity

Recently, news.Bitcoin reported that a planned fork hard drive in the Bitcoin network called Bitcoin Gold has been set for October 25 (November 3). There is a lot of controversy about this fork as a very disorganized team affiliated with the NO2x movement.

Bitcoin Gold: A very bad plan for Bitcoin Hard Fork related to the NO2x movement

Robert Cohen seems to be one of the leaders of the Bitcoin Gold team.
Robert Cohen seems to be one of the leaders of the Bitcoin Gold team.

In the field of bitcoin, there are many differences between the proponents of core software and the proponents of Segwit2x. Because developers Segwit2x And its supporters plan to increase its size to two megabytes, and a group of supporters have started a kinetic software called NO2x. The NO2x group is doing everything it can to persuade people to join their fight against Segwit2x, and Several people Supporters of cryptocurrencies support the movement.

Robert Kuhne, a member of the NO2x movement, also appears to be one of the leaders of the Bitcoin Gold team. Cohen used the code “rbtkhn” on the Slack channel to answer many questions raised by visitors and the crypto media.

Cohen on his official Twitter page, which he calls “NO2x,” the website Under his name and thus proudly states that he is involved in this project.

There are also many other shortcomings of this project that he hopes to address in a few weeks through the Bitcoin Hard Fork Network. As previously reported, this team does not have a test network, so its supporters can not test the system. In addition, unlike the Bitcoin network, which runs through its own code, the Bitcoin Gold project runs with balance per block, and there is no sign of internal equilibrium (EDA).

In addition, contrary to the website’s claim, despite the team’s strong opposition to Segwit2x, no protection has been added to the protocol against possible attacks.

Another disruptive aspect of the Bitcoin Gold project is the implementation of instamine in code, which is called “PoW”, and is actually feedback on changes in Bitcoin Gold hard forks during the instamine period.

It seems that Bitcoin Gold intends to extract 16,000 blocks in advance
It seems that Bitcoin Gold intends to extract 16,000 blocks in advance

Interview with one of the Bitcoin Gold project managers, H4x3

Last night received the answers to the questions we sent to the project manager of Bitcoin Gold, H4x3. The project manager explained that the website is currently under development and that official information about the project will be posted on its Twitter page.

The full text of the project manager’s response to our questions sent before our previous post is as follows:

(BC ( Why are you going to split Bitcoin on October 25) and are you going to change its algorithm to Equihash?

H4x3: Yes, we are going to change PoW to Equihas, which is a thought-provoking algorithm. Because we have Satoshi’s view that “one processor, one vote” (one CPU one vote) We believe. In the current situation where companies are greedy and have a hostile attitude towards bitcoin and have monopolized the production and distribution of search hardware and consider it a necessity for global network security, the importance of bitcoin decentralization is not understood by everyone. .

Bitcoin Gold can simply be thought of as a copy of the Bitcoin protocol and coin distribution policy used to maintain security through a different type of computer hardware. In the event of a disruption or loss of the SHA256 core network, this copy of Bitcoin can be used as an insurance policy or backup plan. The same backup scheme can be applied to the Litecoin theorem. However, it is better to use bitcoin than Lightcoin because it offers exactly the same coins and money as Bitcoin, but the limited supply of Lightcoin makes it of undesirable value as a global currency.

BC: Is your team working against bitcoin, segway 2 or bitcoin cache protocols?

H4x3: We have not taken any action against Bitcoin. Conversely, we know that security and the most important innovation in the field of cryptocurrencies have been made by the Bitcoin team, which is why Bitcoin Gold has paved the way for bitcoin scaling (on-chain scaling) and bilayer (layer-). two scaling) and pursues greater privacy and security.

If the completion of the Bitcoin protocol is stopped due to the obstruction of the opposing factions of the Bitcoin community, Bitcoin Gold will take new steps towards its evolution.

Anyone can oppose Bitcoin Gold for a reason, but it is the people of the community who ultimately determine its true value. Many people believe that Bitcoin Cash and Bitcoin 2X are preparing to attack Bitcoin, while others believe that these forks have been fruitful. We do not judge our competitors or claim that we can read their minds, but we criticize their poor engineering and explain why Bitcoin Gold is superior in this regard.

One of the disadvantages of these two forks is that they are designed to separate the power of SHA256 from bitcoin. By choosing the PoW algorithm similar to the Bitcoin algorithm, these two forks became the eternal opponents of Bitcoin. The worst thing they can do against Bitcoin is that they have created an internal balance that has caused a lot of hashrate fluctuations and increased the unpredictable block confirmation time to 12 hours. As a result, inflation has increased and eventually the Bitcoin Gold block may appear in 2018 instead of 2020.

In addition, although there is no other suitable option for trading, Bitcoin has removed Segway Bitcoin from its subset. Many believe that Segway was removed only for the purpose of making a political statement against Bitcoin, as there is no other convincing reason to remove it.

We intend to appreciate two points about bitcoin cache. First of all, we thank the people who have protected innocent users and businessmen who have accidentally suffered financial losses by implementing security measures. In other words, Sagittarius 2 by default prevents the implementation of security measures, which normally endangers the entire ecosystem and imposes the burden of improper liability on all businesses based on cryptocurrencies.

Secondly, we attach special importance to bitcoin cache because it is the first branch of bitcoin and we have used it as a new independent cryptocurrency. Bitcoin Cash has been traded between 6 and 22% of the value of Bitcoin since August 1 (August 10), the time of its emergence, and has been useful for brand new coins.

BC: Do you think there is a community of bitcoin with capabilities GPU Support?

Certainly. Bitcoin Gold, without the need for any marketing campaign, has been able to significantly attract the attention of the cryptocurrency community. In two weeks, we have attracted 1,600 Twitter members and 400 Slack members from Latin America to Southeast Asia and Russia, and all bitcoin-active countries. Satoshi’s view that “A processor, a sponsorIt is a rich concept that convinces a large section of the community and does not need the support of paid advertising campaigns.

By planning Ethereum to abandon “poW” in favor of the new “poS” system, many Ethereum explorers have acknowledged that they want to shift their focus to bitcoins as soon as possible, especially Bitcoin Gold. And in the next few years we will encounter millions of people who will join the bitcoin community and may want to extract it, which would not be the case for ASIC hardware.

Bitcoin Gold is still evolving, and we will certainly welcome feedback from experts and members of the public. We are also committed to transparency, and we value reasonable expectations about the privacy of those involved in this open source.

We are reviewing this project and we will let you know if the Bitcoin Gold team intends to spin the Bitcoin network.

The project is currently incomplete and involves suspicious activity in connection with ongoing cases between the Bitcoin and Segway campaigns. Members of the cryptocurrency community also believe that people need to be vigilant about the project, as many fraudulent actions may be taken.

What do you think about the Bitcoin Gold project? Do you think this is a legal plan or a humorous joke or an action against Segway?

Source: news.bitcoin


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