Bitcoin God will not repeat the explosive success of bitcoin, experts say

© AP Photo / Kin Seipati Bitcoin. Archival photoBitcoin God will not repeat the explosive success of bitcoin, experts say© AP Photo / Kin Cheung

New althin (an offshoot of the network of bitcoin) Bitcoin God fail as much grow in value as its «progenitor» — the traditional bitcoin (BTC, Bitcoin Classic), believe polled by RIA Novosti experts.

At night on Thursday held a regular hardwork (introduction of a new Protocol, resulting in allcoin) in the bitcoin network. The total amount of new cryptocurrencies that should start the Bitcoin God (GOD), is 21 million tokens.

The controversial project

New cryptocurrency is expected to be fully operational in the first quarter of 2018. But experts underline that the project is known by few market participants. And without the support of the stock market and in the absence of significant technical features of this cryptocurrency development, Bitcoin is no God, they believe.

According to the senior analyst «Alpari» Roman Tkachuk, market participants don’t have high hopes for the new altcon. «Any breakthrough technology, it is not incorporated, and on its website there is not enough information. We expect that its course after a hard forks will go down, as previously happened with Bitcoin’s Gold», he said.

According to experts, it is quite common for this point — the new bitcoin hardforce happen almost every day, but their significance is not great.

«Now about hard forks, the offshoot of the classic bitcoin can declare anyone is reducing their value and undermining the credibility of bitcoin. The greatest importance was first hardforce bitcoin LiteCoin and Bitcoin Cash, they really were based on the idea — the solution to the problem of scalability,» said he.

«The community there is no consensus regarding the new fork. Media support the Bitcoin God is not observed, a strong PR either. Accordingly, rapid growth and, especially, of the struggle for first place with Bitcoin Cash and traditional bitcoin not expected,» — said the founder of the group of companies Blockchain.ru Dmitri Matsuk.

He pointed out some characteristics of the new cryptocurrencies listed on the website of the project. However, a large value for the stock market, they are not, he said. In particular, the project claimed as charitable as 4 million of the 21 million tokens, obtained in the course of mining, will be transferred for these purposes.

The spokesperson of the Waves Platform in Russia Gleb Kostarev took a tougher stance on the project. According to him, the stated charity — most likely a PR stunt.

«Special development fork is unlikely to succeed, and he will not become another in a row of Gold Bitcoin. You have to understand that the creators of forks partly driven by financial motives,» said the expert.

Director of investments in the investment Fund CryptoLife Mansur Guseynov, in turn, noted that the project has a website, an ambitious development program.

«To do this, we need a serious team and a lot of work. And if they have it, I see no reason to implement the project in the form of a fork. Cost to run a new currency. A Pro team by the way is unheard of, and you can’t see the project source code on GitHub», he concluded.

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