171105 Month Old Bitcoin Gold ($7535)

Month old Bitcoin Gold does not disappear,
Papa Bitcoin roars ahead, what has it to fear? — Allen Lubow

A fork called Bitcoin Gold happened October 23, 2017, at block 491,407, which had been planned since before the last Bitcoin Cash fork.  There is a very good article telling the whole Bitcoin Gold story here.  Bitcoin Gold tries to solve the problem of Bitcoin mining being too specialized.  A specially designed computer gives professional miners a huge advantage over just anyone with a computer.  That means fewer miners.  Ordinary folk would not attempt to out-compute a miner’s equipment.  If you owned any Bitcoin at the time of the fork you received an equal amount of Bitcoin Gold.  It is still not clear which exchanges honor Bitcoin Gold or help you retrieve it from the Private Key which you have. It would be the same key as the Bitcoin that you owned at the moment of the fork.

Bitcoin continues to do well on its merry path into the stratosphere.  Bitcoin Gold hit a high of $486 and then fell to about $150 where it has remained.  Here’s the real problem, as illustrated by the Bitcoin Gold (BTG) Twitter account.  Eighty-one percent of the world’s Bitcoin mining pools occur in China. Screen Shot 2017-11-05 at 8.50.30 AMWhat happens if China decides to shut down Bitcoin mining? Bitcoin Gold is designed to remove the advantage of special mining equipment in the hope that more mining operations appear around the globe.  China has already shown what it can do with a heavy hand regarding cryptocurrencies.  But will this prove to be enough of an incentive to buy Bitcoin Gold instead of Bitcoin?  I doubt it.  There would have to be some sort of incident that illustrated to everyone just how serious this Chinese monopoly can be.