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Some clarifications on Bitcoin Gold

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November 20, 2017 | 

Joanna Newman |  0 Comments| 

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Some clarifications on Bitcoin Gold


Some wondered what Bitcoin Gold's pre-mining was.

Indeed, after the fork suffered Bitcoin, giving birth to Bitcoin Gold, there was talk of pre-mining reserved for the team of the new cryptocurrency.

And all was not very clear, that's why the team wanted to make a clarification to explain exactly what had happened with the fork.

The "pre-mine" was actually a "post-mine"; that is to say that after the fork is held, 100000 pieces were extracted thanks to a quick extraction of about 8000 blocks at 12.5 BTG per block.

Who are the first pieces of Bitcoin Gold coming from?


Much of these pieces will be used to develop and maintain BTG.
But of the 100,000 pieces, 5% will serve as a bonus for the team, which represents about 833 pieces for each member of the team, or six people.

Here is what was explained about it:
"It was understandable that much attention was given to the five per cent of the bonus that was designated as "initial reward for the core team "in the Roadmap. This represents 5,000 pieces, divided among six members of the main team, approximately 833 pieces each, so that each member receives about 0.005% of the existing pieces (at the time) for their role in carrying out this project at months before the launch."

Of the remaining 95%, 60% will be unlocked over three years and 35% will be used to build the platform.
Afterwards, the team will give details on the use of funds.

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