Posted By: Admin

On: October 29th 2017

Category: Entrepreneurship, Bitcoin, Finance

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Bitcoin Gold Off to Rocky Start After DDoS Attack

The controvercil but successful Bitcoin gold fork that has been activated will be available to all bitcoin holders who had bitcoin in thier wallets on the november 1st 2017.

The bitcoin core chain was split and forked into two chains. As the bitcoin gold and bitcoin core supporters argue on the need for a fork and that these forks are a threat tho the bitcoin core chain, there was a DDoS attack on the bitcoin gold website.

The aim of Bitcoin Gold is to be a currency that hands power back to the ordinary miner and enable anyone with a graphics processing unit to mine the new cryptocurrency that has roots in the original Bitcoin.

Bitcoin Gold has essentially zero chance of replacing Bitcoin in the marketplace as a ‘fork,’ it’s more of an air-drop than a chain split. And, as such, its entrance onto the stage, has been less than impressive.

This means what probably happened was a network of hijacked devices were accessing the Bitcoin Gold site 10 mln times a minute in order to block out legitimate traffic.

Although it is calling itself a fork, Bitcoin Gold really does not satisfy many of the presumed attributes of a forked currency, and its operation and application have been shaky already.

The team has given itself a soft deadline of Nov. 1 to "launch" the coin properly by releasing the code and allowing people to mine it. At this time people will also receive a mirror balance of their Bitcoin in Bitcoin Gold.

ALSO READ:

WHERE AND HOW DO I GET BITCOINS

WHERE AND HOW DO I SAVE MY BITCOINS AND CRYPTO CURRENCIES

WHAT DO I NEED TO KNOW TO START INVESTING IN BITCOINS AND CRYPTOCURRENCY

12 THINGS YOU SHOULD KNOW ABOUT BITCOINS

THE DANGERS OF BITCOIN

HOW DO I INVEST IN BITCOINS


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