Bitcoin Gold (BTG) plans to hard fork the Bitcoin on October 25, making another version of bitcoin simultaneously. In other words, Bitcoin will split in a hard fork resulting a new chain. The plans for hard fork was first made public back in July by Jack Liao, founder of Lightning ASIC, a mining firm from Hong Kong. The fork will incorporate the selection of new protocol that will change a portion of the consensus mechanism for bitcoin. The outcome is that miners would have the capacity to approach digging for tokens in new ways.
Bitcoin Gold will make use of the Equihash algorithm that Zcash uses, rather than Bitcoin’s SHA256 algorithm. It would also mean for you that you would have to no longer mine it with ASICs and go back to GPU mining.
What does that mean for you
If you own Bitcoin at 25 October, you will still have your Bitcoins after the hard fork, but you will also get Bitcoin Gold. The hard fork is a good opportunity to increase the value of your Bitcoins. However, you can expect the Bitcoin price to drop a few days before the hard fork it could be the reverse too. A lot of people would want to get a hold on a few Bitcoin Gold for free.
You will receive your Bitcoin Gold at a 1:1 proportion in Bitcoin Gold upheld wallets. Just make sure you hold the private keys to the wallet you use.
If you want to exchange your Bitcoins before the hard fork, you should do it as early as possible. If you want to buy more Bitcoin, you should wait until right before the fork when the price is low. Because it seems that Bitcoin will enjoy the upward trend for a while. The risk/reward favors the short side her for a while.
For more on Hard Fork Visit: https://steemit.com/bitcoin/@ghayas/what-is-bitcoin-fork-how-does-it-affects-the-network-hard-fork-and-soft-fork
Pump and dump to pump and dump time
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Depends completely on the trading price. There are 5 million GPUs in the world being used for mining. Eth is netting about $4.5M per day and makes up for majority of GPU profits. You could look at about $7-7.5M per day combined across all GPU algos, which more or less corresponds to average of slightly more than $1 per cheap card.
BTC Gold would produce 1800 coins per day. 1800 * BTC Gold price = however much more money left for miners. If it's traded for $1000, that's almost $2M and is quite a lot. If it's traded at $100, it will be well within daily fluctuations of what we have right now.
I guess we will have to wait and see
Initially the difficulty will be sky high but it would be profitable. After 2-3 days the price will be hit rock-bottom. So, I think the price factor will decide weather mining would be profitable or not.
Similar things happened to Bitcoin Cash right after the fork https://www.coindesk.com/miners-mining-bitcoin-cash-losing-money/
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