Bitcoin Scam?! What impact will Bitcoin Gold have on the Future of Bitcoin? | FREE BITCOIN | VLOG #8

Bitcoin gold is coming out what to do and what not to do you're gonna learn everything you need to know in this video coming up it's the type of shit that they've read about like Chris said I gotta bleed it out I've been in this zone I can't be with that this weird shit that I'd be a bad I'm a visionary that's Lanza yeah there is a big point for coming up October 25th the Bitcoin gold fork in November the Segway 2x is rolling through and I want to assure you that there's only one Bitcoin and nothing's gonna happen to the original Bitcoin we're just gonna weed out the negativity and the bullshit in the Bitcoin community that's basically what happened with Bitcoin gold there are multiple variations to the Bitcoin network if you if you look at it and there will be coming more Forks in the future it's just what it is and if you look at the statistics if you go back to the Bitcoin cache for example hard fork you will see the price shooting up leading up up to that moment up to the fork and then after that everybody gets their Bitcoin doubled or you know most people get their Bitcoin doubled as long as you have your private keys which you know I already recommend for you because if you don't watch your own private keys you really don't hold your own Bitcoin so what you want to do is you want to hold your private keys double your Bitcoin you know get your Bitcoin forked and get the equal amount of Bitcoin gold in this case I don't think the Bitcoin gold will go up to $800 like Bitcoin cash did with this fork and there are a lot of rumors spreading on reddit that Bitcoin gold is a scam that they've already I see Odin and stuff like that so I really wouldn't buy any Bitcoin gold I would just you know hold your Bitcoin get your Bitcoin gold because of you holding the Bitcoin and then sell it and move it into you know either Bitcoin a theory amor any other coin that you prefer and just go from there you get some free Bitcoin gold anyways I'll put some timestamps in this video so that you don't have to go through the whole video I'm gonna talk about the difference between a fork and a chain split everything you need to know about Bitcoin gold and what you need to know leading up to the heart Fork alright so let's get into it alright as you probably already know you know if you're watching this channel then you probably already know the difference between a hard fork and a soft fork a lot of people are worried about the fork because they think it will destroy Bitcoin as a whole and if they're holding you know most of their portfolio in Bitcoin then they're really unsure of what the future will hold for their Bitcoin I'm gonna sure you hear that there's nothing for you to worry about there's nothing wrong with the fork so calm down Bitcoin gold Bitcoin cash Bitcoin you know look at the Bitcoin charts after after Bitcoin cash came in its we're still rising so if there's no problem in fact a currency you called โ€“ executed a spork if a staged heart Fork they do that every time there is a protocol update so none of the โ€“ Forks have ever caused a chain split so there are two types of Forks a soft fork and a hard fork soft Forks are backwards compatible meaning that updated notes can still use in new features well you don't need to update to be able to use you know the old ones bitcoins recent segways update is a great example of a soft fork you know it's a grid you don't have to use segwayed SOG wood has lower transaction fees but if you don't want to use egg whit that's totally fine the hard fork is a complete opposite of that all nodes must upgrade if you don't upgrade it simply doesn't work anymore a soft fork is reversible a hard fork is not with a hard fork you just everybody just has to to use a new rule that apply in this heart fork with a soft work it doesn't matter you can use the old rules or you can use the new rules chain splits are incredibly dangerous and they essentially make the the network useless until another hard fork occurs to fix it and with a network as large as Bitcoin this could cause some serious problems because it would be extremely difficult to execute a follow on hard fork to fix the chain split so now what is Bitcoin Gold Bitcoin Gold is an upcoming fork that is scheduled for 4:00 October 25th of 2017 just like with Bitcoin cash if you holds Bitcoin on this exact date under the block when it splits then you have an equal amount of Bitcoin gold as you did Bitcoin so what you're gonna see is a lot of people are receiving this Bitcoin gold and right away they're gonna try to sell it causing the price of Bitcoin goal to go down rapidly just like Bitcoin cash Bitcoin gold will just be another altcoin it's just like another IC oโ€”- happened there's no there's no issue with Bitcoin on its own it's just like there is a new altcoin like the doggy coin or the Kanye coin or a trump coin right it doesn't affect Bitcoin too much Bitcoin gold will feature replay protection as well and since they're virtually no miners leaving the Bitcoin network to mine Bitcoin gold there's really no problem with having Bitcoin gold for Bitcoin for the Bitcoin network and there's a serial percent chance that Bitcoin gold will will harm the Bitcoin network or kill the Bitcoin network in any way shape or form they say that with a Bitcoin network there's a handful of miners that control everything because they have large mining pools or they have crazy expensive computers to do all the mining so all the smaller players cannot get in here and make a healthy profit so they want to create something else that is easier and more decentralized for smaller players they are changing its their consensus rules for its new network by using a different algorithm for mining this change in algorithm will keep a SICS from working resulting in miners using easier to obtain GPUs this change is expected to decrease minor centralization on the Bitcoin Gold Network again I want to emphasize that Bitcoin gold will not harm Bitcoin in any way shape or form it is just like having a new altcoin out there that you essentially get free for holding Bitcoin again we've seen it the past week Bitcoin has had explosive growth and that is because in my opinion people are getting crazy to get their hands on as much Bitcoin as they can you know and I don't blame them because they're getting free Bitcoin essentially for doing so a lot of rumors are going on on reddit that Bitcoin gold is a big scam that they're just changing a little bit in the algorithm to force a hard fork so that they can make extra free money essentially and there's really a heated discussion going on on reddit so if you're watching this and you came from reddit please contribute in the comments and let me know what you think about this whole subject I'm really interested in talking to you down below also one thing that I want to preface in this video is that you know most of the people know that Bitcoin only has the capacity to mine 21 million coins and people think that whenever a heart Fork occurs like Bitcoin cash then that amount doubles in you know causing inflation like fiat that is total bullshit that's not true if you really think about it like I said Bitcoin cash is just another altcoin and Bitcoin stays Bitcoin it's not like transactions that happen on the Bitcoin cash blockchain are gonna affect the transactions on the Bitcoin blockchain so I want you to know that and with that I want to close this video off I want to be doing giveaway soon so if you're new here to this channel subscribe click that Bell notification so you don't miss anything and for the people that comment down below the person that gets the most up votes gets something from me I'm probably gonna send some Bitcoin out and you will have a chance to get some free Bitcoin or Bitcoin gold or Bitcoin cash I'm not sure what I'm gonna do yet but make sure to comment below and up for other people so that they can have a chance to get their free crypto as well see you guys on the next video until then keep calm and joined the financial revolution bye guys

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