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The Bitcoin Gold hard fork was initiated on October 10th, 2017 and occurred on October 24th, later that same month. Similar to all other Bitcoin hard forks, Bitcoin Gold was received by all those that held their Bitcoin in a private wallet and not an exchange.

The coin was deemed as ‘necessary’ by the community or developers responsible for creating it because it was modified to include an ASIC-resistant property that does not exist in Bitcoin. Essentially, the developers wanted to ensure that GPUs could once again be the predominant method for mining the coin rather than the complex, expensive and technologically advanced ASIC miners that had been developed formerly.

However, due to multiple issues between the miners and the developer as well as controversy surrounding the implementation of the hard fork itself, it has failed to garner any substantial traction in the Bitcoin community.

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