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Bitcoin Gold Co-Founder Martin Kuvandzhiev Spills the Crypto Beans

By 10/09/2019 No Comments


Bitcoin Gold co-Founder, Martin KUVANDZHIEV is my guest on Diva on the block this week!

Martin and I talk about:

  • the differences between Bitcoin Gold and Bitcoin

  • The true meaning of being “open source”

  • Whether or not bitcoin holders should root for the price to go higher.

Martin Kuvandzhiev, the co-founder and operations lead of Bitcoin Gold, is one of the innovative minds behind the cryptocurrency industry. He had a lot to say about the development of this unique coin, along with where he thinks cryptocurrency might be heading in the future.

Currently, Bitcoin Gold has a market cap greater than $140,000,000. It experiences more than $11,000,000 in daily trading volume, which has landed it among the most 75 traded cryptocurrencies currently in existence. While the coin is currently trading for around $8 per coin—far below its peak near the crypto zenith of late 2017—Martin and other holders of the coin are incredibly optimistic about its future.

 

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Martin, a native to Bulgaria, began coding as a teenager. Eventually, he moved on to mining Ethereum and even ended up doing some significant work with NASA. From there, he established Bitcoin Gold (which trades using the ticker BTG) alongside an international team of co-founders. In our conversation—which includes several interesting screen shares—we learned more about Bitcoin Gold and more about the crypto industry as a whole.

 

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What is the difference between Bitcoin Gold and Bitcoin?

Bitcoin Gold is a “fork” of Bitcoin, which means it was originally connected to Bitcoin, but is now “divorced” and is operating separately. Though Martin recognizes they are operating within the same broader market, he says they are competing against Bitcoin, instead, they are simply trying to offer people solutions. When compared to Bitcoin, Bitcoin Gold uses different algorithms for cash mining.

 

What does it mean for a coin to be “open source”?

When creating Bitcoin Gold, one of Martin and his team’s primary goals was to create a coin that was completely open-source.

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Open source means that anybody in the world can (theoretically) contribute to the development and proliferation of the coin. The team believed that everybody should be able to contribute to networks and profit from their contributions.

 

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Should holders of Bitcoin and Bitcoin Gold root for the price to go higher?

One thing that came up in our conversation was whether Martin, and others holding Bitcoin Gold, should root for the coin to increase in value. From an investment perspective, this is something that holders would want to eventually happen. However, Martin claims that price increases are not really his primary concern. Instead, he cares more about expanding the available uses of BCG, controlling volatility (to an extent), and making the coin accessible to more people. The coin is already being accepted by a wider number of merchants. If they are able to successfully achieve these objectives, eventually, value increases will follow.

 

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Taking a Closer Look at Bitcoin Gold (BTG) Price Action

Bitcoin Gold (BTG) touched a new low end of September 2019, when it briefly visited the $4.15 price. This came after three consecutive months of erasing all the gains from the prior three months.

The BTG/USD pair has remained below the daily Ichimoku cloud ever since the bearish momentum started back in July 2019.

Bitcoin Gold BTG Price Analysis

Bitcoin Gold BTG Price Analysis

On the bright side, the price appears to be attempting to bottom out… at least for now. It has a number of resistance levels to break above before revisiting the highs of $32.

 

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🐦Follow Martin on Twitter: https://twitter.com/mkuvandzhiev

Learn more about Bitcoin Gold: https://bitcoingold.org/

 

Make sure to click on this link to secure your spot for my free webinar, 3 Secrets to Make Your Money Work For You, to learn how I got started investing and how you can too.

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Bitcoin Gold Cofounder Martin Kuvandzhiev - Invest Diva Kiana Danial

Bitcoin Gold Cofounder Martin Kuvandzhiev – Invest Diva Kiana Danial

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