Bitcoin Gold, a "friendly" Bitcoin hard fork aimed at making Bitcoin "decentralized again" was birthed on the 25th of October 2017. However, the network was private and was unavailable to users and miners. But recent developments have revealed it will soon go live and the coins will be made available too.
Bitcoin Gold (BTG) is set to be officially launched on Sunday, the 12th of November 2017, at precisely 7 pm (19:00 UTC). The developers of the new coin said they will, at this point, make its full node client download available on their website.
"The BTG blockchain will officially be live, with blocks mined openly by users and pools from all around the world," the developers said in a blog post posted on their website. "Wallets and exchanges will be able to process deposits, withdrawals and trades (as soon as they are ready)."
Strong security features have also been added to the network.
Protection against replay attacks has been implemented and a unique "G" and "A" prefixed address format has been adopted as well. This way there won't be accidental transfers of BTG to incorrect crypto addresses.
In preparation for the launch, the developers held several testnets to test the network. They opened it to members of the public to mine BTG. The exercises went smoothly. To further test the network, transactions were made on it and everything seems to be fine.
The developers are now working on improving BTG documentation so that information about mining it can be easily accessible. They're also assisting wallets and exchanges on integrating BTG into their offerings and ecosystems.
Perhaps, in reaction to the news of its impending launch, BTG appreciated marginally, with over 90% of trades taking place on HitBTC and Bitfinex. At the moment though, the coin is worth 2.7% of Bitcoin at $187 and the market cap is about $25 million, a fraction of Bitcoin's.
BTG is supported by about 18 exchanges at the moment too, with most of them offering BTG futures. When the coin is officially launched trading should begin on these exchanges. There are only 3 wallets that support BTG though- Coinomi, Guarda and Freewallet.
How to mine BTG
Unlike Bitcoin and Bitcoin Cash, BTG can be mined using less sophisticated graphics devices and machines. With a Radeon, nVidia or AMD GPU you can mine BTG in the comfort of your bedroom or game room. These are components found on desktop computers and laptops which are ubiquitous nowadays. And BTG is mined just like ZCash, another crypto-coin just like Bitcoin but more private.
So, here are the steps to take to mine BTG.
2. Scroll down to the ecosystem section and find BTG mining pools. (There are quite a number of them)
3. Select a pool and follow their instructions
Basically, what happens is that you download a BTG mining software suitable for your device. Then you create a BTG wallet and modify one of the .bat files you've downloaded according to the instructions given by the mining pool. After this, you just click on the file and you're good to go.
The format may be different from one mining pool to another though but the instructions are always available. Here's a Youtube video guide with more details on mining BTG.
Despite all these, Bitcoin Gold doesn't have a promising prospect. The crypto world generally doesn't see it having substantial value in the future. BTG developers themselves have said the coin won't compete with Bitcoin itself. The network is most likely going to be kept alive by fans of the coin in the long run.