Bitcoin Gold vs. Bitcoin - Which one is better?

Bitcoin Gold co-Founder, Martin KUVANDZHIEV is my guest on Diva on the block this week!

Martin and I talk about:

• The differences between Bitcoin Gold and Bitcoin
  
• The true meaning of being “open source”
  
• Whether or not bitcoin holders should root for the price to go higher.
  

Martin Kuvandzhiev, the co-founder and operations lead of Bitcoin Gold, is one of the innovative minds behind the cryptocurrency industry. He had a lot to say about the development of this unique coin, along with where he thinks cryptocurrency might be heading in the future.

Currently, Bitcoin Gold has a market cap greater than $140,000,000. It experiences more than $11,000,000 in daily trading volume, which has landed it among the most 75 traded cryptocurrencies currently in existence. While the coin is currently trading for around $8 per coin—far below its peak near the crypto zenith of late 2017—Martin and other holders of the coin are incredibly optimistic about its future.

What is the difference between Bitcoin Gold and Bitcoin?

Bitcoin Gold is a “fork” of Bitcoin, which means it was originally connected to Bitcoin, but is now “divorced” and is operating separately. Though Martin recognizes they are operating within the same broader market, he says they are competing against Bitcoin, instead, they are simply trying to offer people solutions. When compared to Bitcoin, Bitcoin Gold uses different algorithms for cash mining.

What does it mean for a coin to be “open source”?

When creating Bitcoin Gold, one of Martin and his team’s primary goals was to create a coin that was completely open-source.

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Open source means that anybody in the world can (theoretically) contribute to the development and proliferation of the coin. The team believed that everybody should be able to contribute to networks and profit from their contributions.

Should holders of Bitcoin and Bitcoin Gold root for the price to go higher?

One thing that came up in our conversation was whether Martin, and others holding Bitcoin Gold, should root for the coin to increase in value. From an investment perspective, this is something that holders would want to eventually happen. However, Martin claims that price increases are not really his primary concern. Instead, he cares more about expanding the available uses of BCG, controlling volatility (to an extent), and making the coin accessible to more people. The coin is already being accepted by a wider number of merchants. If they are able to successfully achieve these objectives, eventually, value increases will follow.

🐦Follow Martin on Twitter: https://twitter.com/mkuvandzhiev

Learn more about Bitcoin Gold: https://bitcoingold.org/

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Connect to Kiana Danial, Founder of Invest Diva: linktr.ee/investdiva