Home CoinsBitcoin Bitcoin Gold Is an Example of a “Good” BTC Fork

Bitcoin Gold Is an Example of a “Good” BTC Fork

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Alejandro Regojo is the man behind bitcoin gold, which is widely considered one of the more successful bitcoin forks.

Bitcoin Gold: BTC’s “Good” Son?

Such forks have happened in the past and can lead to somewhat mixed results. In the case of bitcoin cash (BCH), the currency is still doing quite well and is considered the fourth-largest cryptocurrency by market cap.

Bitcoin SV (BSV), however, is an entirely different story. While it’s garnered a place in the industry’s top 20, the currency is widely blamed for the nasty fall that bitcoin’s price induced roughly one year ago.

During Thanksgiving of 2018, bitcoin fell to the mid-$3,000 range after it had spent most of the summer traversing through $5,000 and $6,000 territory. While those price arenas weren’t much to brag about, things took a horrible turn three months later when the holiday season rolled around and the currency lost another $3,000 from its overall value. It took BTC approximately five months to recuperate from there, rising back into the $5,000 range again in April of 2019.

In addition, the currency has also led to controversy surrounding its alleged creator Craig Wright, who often claims that bitcoin SV is closer with the original vision BTC’s creator Satoshi Nakamoto had for his cryptocurrency project.

Bitcoin gold hasn’t been as widely publicized as bitcoin SV or bitcoin cash, but the story behind it is relatively intriguing. As a finance student in both the U.K. and China, Alejandro mentioned that he grew “bored” with fiat, saying that it had potentially gone as far as it was going to go. Thus, he was curious about something different, which is what led him to the crypto space in 2015 after studying economics for many years. He comments:

I understood that there was something newer and better… I realized that bitcoin was my thing because it’s internet and at the same time, it’s money, so I entered first as a researcher and then I started trading.

Later, however, bitcoin started to become something of a monopoly, and was suddenly similar with the structure he had noticed with fiat. Thus, he took a big chance and decided to fork the world’s number one cryptocurrency by market cap. This led to the creation of bitcoin gold. He says:

At the beginning of 2017, there were a lot of issued in bitcoin, a lot of problems, and people talking about forks in bitcoin. That’s when I began to get involved with the bitcoin gold community.

Starting Small, Ending Big

Initially, bitcoin gold started out as a mere experiment – a way to try and fully implement Satoshi Nakamoto’s vision, but over time, it turned into something much bigger. He states:

Our idea was to create the most ASIC-resistant version of bitcoin.

Tags: bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin SV



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