Bitcoin Gold is still #5 market cap
Amid various scams and scandals, Bitcoin Gold has finally been listed on CoinMarketCap. It is already ahead of major altcoins such as Dash, Litecoin, and Monero and has risen hundreds of dollars in price since its initial listings and is currently sitting at around $350-$360 (top price is $387).
Likely one of the primary reasons behind Bitcoin Gold’s price surge over the past 48 hours is the announcement that cryptocurrency exchanges Bithumb and Bitfinex have both added BTG trading pairs to their crypto offerings. Specifically, Bitfinex has added BTG/BTC and BTG/USD, while Bithumb has added BTG/KRW. Bitcoin Gold has already been trading on major exchanges like Bittrex, HitBTC, and Binance.Bitcoin Gold is a fork of the main Bitcoin blockchain that happened at the end of October. BTG forked after the activation of Segwit, so it is also active on the forked chain. The key difference between Bitcoin and Bitcoin Gold is the change in the hash algorithm used to mine Bitcoin. This renders Bitcoin ASICs, the specialized machines specifically made to mine the digital currency, obsolete on the new network. The new hash algorithm gives miners the ability to mine using consumer grade graphics cards. Some say ASIC mining centralization is a big problem in Bitcoin, and they’re looking to change it with Bitcoin Gold.