Bitcoin Gold: The Stone Soup Crypto

Initially, Bitcoin Gold looked like a sleek and promising idea. But it turned out to be a disaster- which may still continue.

Everyone knows the stone soup story- a man proposes to cook a soup with just stone and water. And when everyone brings something to put in the soup, the final result is something edible.

The problem is, Bitcoin Gold turns out to be a stone soup cryptocurrency that makes even the shadiest ICO look promising in comparison. It turns out that on the day of the launch, the project was offering bounties of a coin that does not exist- in exchange for writing the code to actually create the coin.

And just hours after Bitcoin Gold forked without a test net, mining and without replay protection, it forked again- this time, to begin with a fair start and no pre-mine. The project, seemingly led by programmer StarbuckBG, is also incomplete and looking for contributions.

All the while, futures for Bitcoin Gold are trading on Yobit, Bithumb and CoinNest, all of them rather innovative Korean exchanges. But no one knows how the coin would be traded when- and if, mining actually starts.

The curious thing is, Bitcoin Gold may not be doomed- once mining starts, a lot of coins just refuse to die out. And with a venerable name plus a demand from Bitcoin owners to claim the coin- a version of Bitcoin might just survive. The question is- which one would that be, the original project or the version of StarbuckBG, with the alternative Twitter handle as Martin Kuvandzhiev, a Bulgarian programmer with dedication to the project.

The story of Bitcoin Gold starts to resemble that of Monero, where a community drive took away the control from the initial developers' team. But time will tell if StarbuckBG is enough to make this project run with a main net and a wallet as promised- after November 1.

We will keep informing you on Bitcoin Gold as the story develops, since currently there are too many unknowns. At the moment, the futures for Bitcoin Gold trade at an astounding 0.3BTC on YoBit.