Bitcoingold hashrate - Marketing issues

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1

The difficulty adjustment
is not good team needs to target zcash
Since from day one zcash is always more profitable than btg in equihash POW
Thats the big reason no miner wants to leave zcash and its hashrate is keep on increasing and btg hashrate is same
We need more volume to be number 1 in equihash POW or we need difficulty adjustment.
Why more people will mine btg if they know that their is more profitable coin in equihash POW like zec
Remember: Big miners giant care about profit ROI than any other thing.
Check these stats as a proof https://bitinfocharts.com/comparison/mining_profitability-zec-btg.html#1y&search=ze

Kindly discuss with your team to get more volume or do little diff adjustment
When more miners will come to mine btg (big giants) the exchanges will love to add it
More Hashrate = More people are getting involved.

When btg pay is coming?
Are btg team is doing marketing?

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2

This is not correct; BTG and Zcash often trade places during the day when you look at instantaneous profitability. On average, Zcash has been marginally more profitable of late, but at any point in time, it’s a toss-up as to whether BTG or Zcash is more profitable.

You misunderstand how DAA works… if the Zcash hashrate kept on increasing, then Zcash blocks would be coming too fast, and the DAA would increase the Zcash Difficulty to slow the blocks down, making Zcash mining less profitable.

Also, Zcash hashrate is actually not increasing. (See charts, below.)

Artificially lowering the difficulty would bring in more miners but the block time would get shorter; this would add phony inflation and devalue the coin.

Also, it is not our goal to “attack Zcash .” We are a friendly fork and we participate in a marketplace of miners; we are more interested in partnering with the Zcash team against our common threats.

Zcash and BTG and the hashpower markets are in balance and generally shift based on market price movements. The Difficulty is never a cause of shifts in mining power; the Difficulty is an effect of shifts in mining power, and the DAA exists to make sure the proper target block time of 10 minutes per block is preserved.

ZEC and BTG Network Hashrate Charts for the past ten days:

image
image637Ă—652 30.1 KB

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3

I agree with you lowering the difficulty will devalue the coin understand your point.
In other way we need volume to stabilize btg.
We need bitflyer
https://www.ccn.com/japans-biggest-bitcoin-exchange-reveal-bitcoin-gold-hard-fork-plans/

We need marketing
Do massive marketing for 2 weeks or 1 month and see the results.

It really hurts when we see 0.076 to 0.006
it should be at 0.1

4

See the hashrate from december 2017 to march 2018

HASHRATE HAVE BEEN DOUBLED
https://bitinfocharts.com/comparison/zcash-hashrate.html

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image
image938Ă—610 78.5 KB

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I personally mine on my computers, cameras, and phones (only phones I don’t care about though because it can destroy the battery). I know, big deal right? Yet that is the problem. People don’t see mining on their computer as a big deal or ever being lucrative. But if you could get a lot of people involved…things change.

So far, I tell my friends to use the mining app I use that is a 3rd party. They are very skeptical. They think it could be spying on them or it just isn’t worth taking up the memory. A convincing flyer or tweet identifying legitimate apps to mine BTG could be made to this audience to help bring them on board.

Or even a more straightforward method would be if on this page:
https://bitcoingold.org/downloads/

You had a mining app that is either your own or a legitimate mining app that has been checked out for bugs. People are paranoid about bugs and rightfully so; some of these apps going around claiming to mine for you either A. have malware and / or B. make it impossible to get paid. I’m sure my friends would feel more secure downloading an app off a reputable website like yours than another.

Just my 2 cents as someone who is interested in promoting the crypto-space.

Cheers!
Phil

7

Yes, during that time, the ZCash hashrate grew significantly (though it didn’t quite double, going form about 325 to about 500 Mh.)

During that time, the price ratio of ZCash to BTG also grew significantly.

The change in the amount of hashpower attracted is largely caused by price changes.

8

At this time (recent weeks) the relative price ratios aren’t changing much, so the relative network hashpowers aren’t changing much. I don’t expect that we’ll be artificially changing anything to try to attack ZCash.

Our focus is on building the underlying value of BTG and on marketing BTG’s strengths. We are a new coin that has just stabilized, and we’re steadily building a base for growth and an ecosystem of users.

It’s worth noting that as a new coin that forked BTC, we have faced certain headwinds that ZCash has not - for example, there were 16.5 million BTG in existence at launch via forked BTC, and some of those owners have chosen to sell their BTG, which puts downward pressure on BTG price. However, over time, more and more of those sellers are “out,” and this “young fork” phase comes to an end and more normal market dynamics will take over. ZCash has no such effect - ZCash started with a new coin supply and has only just grown to 3.6 million.

Going forward, BTG will have certain advantage over ZCash in terms of growth. For example, the inflation rate for ZCash is dramatically higher than for BTG. Eventually, many years from now, there will be 21 million ZEC and there will be 21 million BTG. But ZEC is much earlier and in a much more inflationary period of the growth cycle; BTG already has nine years of growth (and two halvings) behind it, having forked the BTC blockchain.

ZCash is mined at 12.5 coin per block, like BTG, but ZCash has four blocks in ten minutes, while BTG has one. So four times more ZEC coins are released in ten minutes as BTG coins.

Here’s a rough calculation of the ZEC to be produced in the next year:
12.5 coins per block * 24 blocks per hour * 24 hours per day * 365 days per year = 2.6 million.

Since there are about 3.6 million ZEC right now, there will be 6.2 million ZEC in one year. In a year, due to coin supply inflation, ZEC’s price will be 42% lower than it otherwise would.

The corresponding number of BTG to be produced in the next year:
12.5 coins per block * 6 blocks per hour * 24 hours per day * 365 days per year = 0.65 million. (Same as for BTC.)

Since there are already about 16.9 million BTG right now, there will be about 17.5 million BTG in a year. The decline in value due to coin supply inflation will be about 3.7% (which is, again, roughly the same as for Bitcoin.) It will be about eight years and two halvings before the ZCash inflation rate drops to this level.

In the medium term - the coming months and couple of years - the prospects and underlying fundamentals for BTG are excellent.

Note: nothing I’ve said here is an attack on ZCash; it’s merely an explanation of underlying fundamentals that investors should consider when valuing a coin today, and when estimated future value.

4 Likes
9

I love btg but the problem all the community is facing is marketing.
There is not much about btg in markets
There is no news or general awareness about bitcoingold.

Social media promotion and campaigns are not there.
Use these to promote your network and it cost nothing its Free!!
Kindly use https://www.like4like.org/
http://addmefast.com/login

We need news about btg in markets.
There is much need to be done about marketing.

10

https://steemit.com/bitcoin/@supercrypto1/4th-dimension-bitcoin-manipulation-cartel-price-suppression-is-the-goal

how do you think about this?

In my opinion, maybe btg has also become their target. (CME)

The large volume of dumping sales mentioned
It may be them.

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11

Contact: https://bitflyer.com/en-us/Contact

To add btg

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Hey yeah, I read that too! I think it has SOME merit. But take it with a grain of salt. Considering how easy it would be to cause manipulation with large amounts of money, I don’t see why people who have the means wouldn’t. People generally act in self-interest. Especially the people at the top. But I don’t think the goal is suppression so much as they (big players) may want to get a foothold in the market.

13

If so, why there are only cartel on gold, silver, btc but not on etf stock bonds etc… ?

Getting Foothold on marlet and dumping the marker are two different words.

Is the article correctly understood?
shit tether issue, shit mt. gox etc… all about right?

14

I think that article is way off base because it misses the most important part of the definition of a Cartel in terms of market theory, which I’ve circled here in red:

image

Without competition.

Business Cartels can only manipulate price in areas where they control all (or nearly all) of the supply/demand.

Think of a Cartel like a Monopoly - a Monopoly is where one business controls everything, so they get to dictate price. A Cartel is when only a few businesses control everything, and they cooperate with each other to dictate price, as if they were a Group Monopoly.

Neither Bitcoin nor Gold nor Silver have that situation - there is too much out there, in too many hands, in too many places, for a group to really act as a Cartel to manipulate the price of Bitcoin. (Although the number of ASIC manufacturers is small enough that they can act like Cartels with regard to ASIC miners.)

What Bitcoin & Gold do have, however, is some very big holders who can choose to sell - and when a big holder sells, market price will come down. But that isn’t market manipulation - that’s normal market function. More sellers than buyers means price goes down.

People - especially certain crypto fans on the internet - are very susceptible to conspiracy theories, and look for some crazy explanation for everything that happens.

Usually, though, when you see a candle with a big drop? It was just a lot of units sold. And a big jump? It’s just a lot of units bought. And that’s normal market function. As liquidity improves over time, those same volumes of buys/sells will hardly move market prices.

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15

In my previous post here I mentioned how I sort of messed up Bitcoin gold difficulty algorithm. However the charts that someone has posted here indicate that Bitcoin golds difficulty algorithm is performing better for miners than zcashes. The reason I say this is because the up-and-down spikes in zcash are typically the result of big miners coming in when the difficulty is low and leaving when it goes high and so your constant miners are going to be stuck more often with those High spikes. In contrast Bitcoin Gold’s algorithm looks more random in you can’t identify where people jumped on and off. In any event btg next difficulty algorithm is going to be a lot better and we are getting a lot of Monero clones to use it right now.

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500 shitty phones ~= 2-3 GTX 1060;
For a shitty coin it looks like some big mining’s going on, and maybe that’s all it takes to make it to a respectable coin. MAYBE!

17

I don’t mean to say that the original poster is wrong, it’s just that I can’t see a problem in the chart. The problem I caused is not showing up. It shows itself as the almost horizontal lines that slowly go upward. And since it’s not showing up that means hash rate is not suddenly increasing from big miners jumping on.

18

you are programmer. and i’m too.

Programming is a set of logic
If that article is also logical, you are missing a lot of the text.

I have seen your wide and deep knowledge here.

CME has been trying to get that volume you said. (by news, many power, a lot of trillion dollar…)
it’s almost Impossible, you’re not exactly sure know a series of events,
(tether issue, gold, silver graph by CME, market taming method of A financial family started from the 16th century
OKex futures super dumping and so on…)

you rarely impossible like understand this article lightly.

So I have another thinking.

ok. Thank you.

ps. As a reference, my previous article in Korean
You misinterpreted it.

19

Btg difficulty will be better and better after some time.
We dont need to print so much btg in the market. It will start the devaluation.

We need exchange like bitflyer , coincheck

20

I think you’re referring to my images… but I’ll note that they do not have common scales. The spikes on the ZCash chart are smaller than those on the BTG chart when you look at them as percentages.

The problem of big miners (and auto-switching pools) jumping in and out of BTG and other Equihash coins is real - I have other data to demonstrate it - but it is perhaps not as bad as you feared. I think the effect is being dampened by the fact that there are multiple competitive Equihash coins (competitive from the standpoint of mining profitability), and different switching algorithms make different choices, having different considerations which I won’t go into here.

If you’d like, I’ll dig up some prior digging I did which shows the problem (and the source of the problem).

Agreed, and thanks for the work and assistance - we have the new algo/settings running in Testnet now. Because the baseline hashrate on the testnet is fairly low, it’s not hard to throw a lot of power at it to gauge the response - let me know if you’d like us to do some experiments. (If you’d like to publicly discuss/do any tests, let’s open it as a separate topic under Dev or Mining.)

1 Like