Bitcoin Gold: new Bitcoin fork?

A new "golden" cryptocurrency may fork from Bitcoin in October
29 September 2017   1672

Following the events of this summer, which were connected with the appearance of Bitcoin Cash and information about a possible new SegWit2x hardfork, another project with Chinese roots appears. As reported by coindesk.com, the project named "Bitcoin Gold" aims to follow a similar launch plan as Bitcoin Cash, i.e. to split from Bitcoin main chain.

As detailed, the Bitcoin Gold separation from the original Bitcoin chain is scheduled for October 25th. It is believed that the new tokens are to be traded on the exchanges on November 1st. The projct is to be led by Jack Liao, CEO of Hong Kong mining firm LightningASIC.

In particular, the developers hope to open up mining to more participants by replacing Bitcoin's mining algorithm with one that will enable it to be mined with graphics cards. The idea is to make big miners less relevant.

Bitcoin gold will implement a proof-of-work change from bitcoin's SHA256 to Equihash, a memory-hard algorithm that is ASIC-resistant and optimized for GPU mining.
 

"The Sorrow"
Bitcoin Gold developer

Bitcoin Gold has its own website, however visiting it is unlikely to shed additional light on the project.

The project has already faced some criticism. Thus, Zhao Dong, a cryptocurrency trader and investor argues that "GPU mining can't prevent centralization as GPU are controlled by Nvidia and AMD". 

 Bitcoin price chart on coinmarketcap.com Bitcoin price chart on coinmarketcap.com

What the future has in stock for Bitcoin and Bitcoin Gold, remains to be seen. Meanwhile, the top cryptocurrency price is about $4173.97, it's market capitalization is $69,257,899,504.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   115

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.