What are Bitcoin Gold and SegWit2x?

Before you read this I’d like to say that I have a discord server now. If you want to know anything else that I might have missed, join it by clicking on this.

What are Bitcoin Gold and SegWit2x?

Simply put, they are 2 forks of Bitcoin planned for the near future. Bitcoin Gold is a hard fork, which means that it will branch off to be its own separate coin. It is planned for sometime around October 25th, though there is a lot of conflicting information about when it will actually happen. SegWit2x is a soft fork, which means that it is just adjusting the main coin’s code, so it will still be a part of the main Bitcoin. It is happening sometime in mid-November.

What do they do?

Bitcoin Gold is a quite large change for miners. The code for exchanging the coin won’t change much. The biggest change in the code is for mining. The goal of Bitcoin Gold is to not allow ASIC miners like the Antminer S9. The reasoning for this is that having only ASIC miners would let it be more centralized. With Bitcoin Gold, you can only mine with GPUs like most altcoins.

SegWit2x, although only adding a few things to the code, is rather significant. It doubles the size of every block, which allows twice as many transactions to go through in the same amount of time.

How do I get free Bitcoin Gold Coins from my existing Bitcoins?

It is pretty simple. All you have to do is download a hard drive wallet from the internet, which allows you to store your Bitcoins on your computer instead of on a Website. After that, simply send your bitcoins to that wallet and then just wait. As soon as the hard for occurs, you will get an equal amount of Bitcoin Gold coins as you have Bitcoins.

Do note that some online wallets will give you Bitcoin Gold coins equal to a number of Bitcoins you have, but not all of them will. The method above is the safest method.

So what about mining Bitcoin Gold?

Well personally, I am going to test out mining it with my 4 Ethereum rigs, and I’ll have to see if it is very profitable. I would love to discuss it more with anyone on my Discord server.

-Bitcoinboy

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