# Bitcoin Gold

> Bitcoin Gold (BTG) is a hard fork of Bitcoin designed for decentralized GPU mining, eliminating ASIC dominance and reflecting Satoshi Nakamoto’s original vision...

- Canonical URL: https://iq.wiki/wiki/bitcoin-gold
- Categories: Cryptoassets
- Created: 2022-08-12T08:50:52.595Z
- Last updated: 2024-08-12T19:14:19.981Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Bitcoin Gold (BTG)** is a [hard fork](https://iq.wiki/wiki/hard-fork) of the original [cryptocurrency](https://iq.wiki/wiki/cryptocurrency), [Bitcoin](https://iq.wiki/wiki/bitcoin). Founded by [Jack Liao](https://iq.wiki/wiki/jack-liao), it is an open-source, decentralized digital currency without a central bank or intermediary that can be sent from user to user on the peer-to-peer Bitcoin Gold network. [\[1\]](#cite-id-ze9wxtqbrq)[\[2\]](#cite-id-tzshk2b1r4j)  
  
  
# Overview  
  
BTG is a crypto with [Bitcoin](https://iq.wiki/wiki/bitcoin-btc) fundamentals, mined on common GPUs instead of specialty application-specific integrated circuits (ASICs). GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have. [\[1\]](#cite-id-ze9wxtqbrq)  
  
Bitcoin Gold was [hard forked](https://iq.wiki/wiki/hard-fork) from the [Bitcoin](https://iq.wiki/wiki/bitcoin) blockchain on October 24, 2017, at block height 491407. The aim was to create an ASIC-resistant version of [Bitcoin](https://iq.wiki/wiki/bitcoin) to decentralize the network, addressing the concentration of mining power. The concept behind Bitcoin Gold was "one CPU one vote," reflecting [Satoshi Nakamoto’s](https://iq.wiki/wiki/satoshi-nakamoto) original vision where every node could [mine](https://iq.wiki/wiki/mining) coins. [\[1\]](#cite-id-ze9wxtqbrq)[\[5\]](#cite-id-vymsmza3eli)  
  
# Tokenomics  
  
Bitcoin Gold has a total supply of 21,000,000 BTG tokens. Out of the total amount of BTG tokens, 30% went towards the development of the blockchain and the project. Another 15% was reserved for ecosystem support and development, and another 15% was distributed amongst the BTG community. [\[3\]](#cite-id-2nivk6luoa7)  
  
About 20% of the total BTG token supply was reserved for yearly expenses. Close to 7% of BTG tokens were set aside for bounties and app collaboration, while another 5% went towards rewards for the founding team. The remaining 8% of tokens went towards covering pre-fork costs and community development. [\[3\]](#cite-id-2nivk6luoa7)[\[4\]](#cite-id-a7wtb2simjj)  
  
# Network Attacks  
  
Soon after the launch, the Bitcoin Gold website experienced a distributed denial of service ([DDoS](https://iq.wiki/wiki/distributed-denial-of-service-ddos-attack)) attack and received criticism from [Coinbase](https://iq.wiki/wiki/coinbase) and Bittrex for being hastily put together, as well as including a developer pre-mine. [\[6\]](#cite-id-cuz49lov5ot)  
  
In May 2018, Bitcoin Gold experienced a 51% hashing attack by an unknown actor, allowing manipulation of the [blockchain](https://iq.wiki/wiki/blockchain) ledger and double-spending of digital coins. During this attack, approximately 388,000 BTG (worth around US$18 million) was stolen from several cryptocurrency [exchanges](https://iq.wiki/wiki/decentralized-exchange). The BTG team said the hack was a combination of a [51% attack](https://iq.wiki/wiki/51percent-attack) and a double-spend attack. Subsequently, Bitcoin Gold was delisted from Bittrex after the team declined to contribute to damages. [\[7\]](#cite-id-kxlaz41ypu)  
  
# Team  
  
* [Jack Liao](https://iq.wiki/wiki/jack-liao) \- Founder[\[12\]](#cite-id-nwjrb79dbvq)  
* H4X3ROTAB - Lead Developer[\[8\]](#cite-id-ihokoft07g)  
* Martin Kuvandzhiev - Operations Lead[\[9\]](#cite-id-gpzlre9g7jj)  
* Franco Niebles - Lead Designer[\[10\]](#cite-id-ogaso4j15c)  
* Edward Iskra - Communications Director[\[11\]](#cite-id-jc9ueivc7oc)