 What's up everybody? How are you doing today? I wanted to talk a little bit about Bitcoin Gold, because it just seems like nobody knows what's going on. So I thought I'd just share with you what I think is going on. So you take a look at Bitcoin Gold, and I mean you can see that it's been at $500 on October 23, $539 which was just yesterday. And then it gets released, and then it goes all the way down. My goodness, all the way down to $130. So it goes down to $132, and it's down 68%. I mean you go to their website. It's interesting. Make Bitcoin decentralized again. Looks good, right? Scroll down. Decentralization, fair distribution, replay protection, transparency. We got the roadmap. Subscribe to our newsletter pop up. We got the comparison, the supply, Bitcoin, Bitcoin Gold, BTG, and Bitcoin Cash. Everyone has $21 million in supply. Segwit 2X, B2X, $21 million in supply. So there's four Bitcoins now, and it shows the differences. Apparently with the mining hardware, everybody's using ASIC except for Bitcoin Gold, which is using GPU. The block interval is 10 minutes each. The block size for Bitcoin and Bitcoin Gold seems to be the smallest. Bitcoin Cash 8 and Segwit B2X, Segwit 2X seems to be bigger. Sure, seems very interesting what happened here. What is Bitcoin Gold, you ask? Well, let's get right into it, shall we? Seems like a lot of chaos. Bitcoin Gold is a fork of the Bitcoin blockchain that will occur on October 25, 2017. That's tomorrow. At the pre-determined block height, Bitcoin Gold miners will begin creating blocks with a new proof-of-work algorithm, and this will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on an altered, but a new branch of the blockchain will split off from the original chain. The new branch is a distinct blockchain with the same transaction history as Bitcoin up until the fork, but then diverges from it as a result of this process. A new cryptocurrency will be born! What is the purpose of Bitcoin Gold? The purpose of Bitcoin Gold is to make Bitcoin mining decentralized again. Satoshi Nakamoto's idealistic vision of one CPU, one vote, has been superseded by reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole. By changing Bitcoin's proof-of-work algorithm, SHA256 to EQUI hash, all of the specialized SHA256 mining equipment will be obsolete for mining the Bitcoin Gold blockchain. Thus, Bitcoin Gold will provide an opportunity for countless new people around the world to participate in the mining process with widely available consumer hardware that is manufactured and distributed by reputable mainstream corporations. This is revolutionary people! A more decentralized, democratic mining infrastructure is more resilient and more in line with Satoshi's original vision. Wow! How can I get Bitcoin Gold? The Bitcoin Gold BTG initial coin distribution method is exactly the same that used by Bitcoin Cash, BCH, all Bitcoin holders who possess BTC private keys on October 25th. Block 491407 will receive Bitcoin Gold on the rate of 1BTC equals 1BTG. If you have 20BTC, you will receive 20BTG. You need to control BTC private keys in order to make Bitcoin Gold transactions. What wallet should I keep my BTCs in to make sure I will receive BTG? Wow! This is very, very important information. Any secure Bitcoin wallet that gives the user exclusive control of the cryptographic private keys is a suitable location to store your coins prior to October 25th. Fork. Some wallets may offer you direct access to your BTG, while others may require you to take additional technical steps. Verified wallets that support BTC and BTG side-by-side will be listed on the Bitcoin Gold homepage. We will publish guides for reviewing BTG from the most popular wallets, including Bitcoin Core, Electrum, Mycelium, Hardware Wallets, Paper Wallets, and more. Wow! This is directly from the Bitcoin Gold website. Look at their team! Is this the dream team? This is very interesting! They are on YoBit, they are on HitBTC, they are working apparently with MinerGate, they are on BitFlyer, CoinNest. Wow! Look at all the exchanges! This is an incredible opportunity. A new revolution, a new baby, a new cryptocurrency is being born. Bitcoin Gold is a new cryptocurrency that you too can profit from. Look at this Bitcoin Gold community response. On October 20, 2017, Coinbase published a document titled, Bitcoin Gold FAQ. This document contained the following statements. At this time, Coinbase cannot support Bitcoin Gold because its developers have not made the code available to the public for review. Let's take a look at what Coinbase has to say. Let's take a look, first of all, at Bitcoin $5,510. Let's take a look at what Coinbase has to say. Dear Richard D, we wanted to give you an update on two upcoming Bitcoin forks, Bitcoin Segwit 2x and Bitcoin Gold. You can read more about what a digital currency fork is here and see our prior update. We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make Coinbase the most trusted, safe and easy to use digital currency exchange. Bitcoin Segwit 2x. The Bitcoin Segwit fork is projected to take place on November 16 and will result in two Bitcoin blockchains. Following the fork, Coinbase will continue referring to the current Bitcoin blockchain as Bitcoin. And the fork blockchain as Bitcoin 2x. Any customer with a Bitcoin balance on Coinbase at the time of the fork will be credited with an equal amount of the Bitcoin 2x asset on the Bitcoin 2x blockchain. No action is required. We will automatically credit your account. So if you have five Bitcoin stored on Coinbase before the fork, you will have five Bitcoin and five Bitcoin 2x following the event. This is some big news. This is huge. Huge, huge, huge news. I mean, I just see everybody wanting to just accumulate. I just see everybody wanting to accumulate. I don't know if you guys are listening to this. Wow. This is huge. Any customer with Bitcoin balance on Coinbase at the time of the fork will be credited with an equal amount of the Bitcoin 2x asset on the Bitcoin 2x blockchain. No action is required. We will automatically credit your account says Coinbase. So if you have five Bitcoin stored on Coinbase before the fork, you will have five Bitcoin and five Bitcoin 2x following the event. This is huge. The Bitcoin Gold fork occurred on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. Why are we seeing the date of the 25th on the website for Bitcoin Gold? And yet we are hearing that the fork is taking place already on the 23rd, which was yesterday. The Bitcoin Gold fork occurred on October 23rd says Coinbase. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. Which means I got Coinbase and I ain't getting no Bitcoin Gold. If the blockchain proves to be secure and valuable, Coinbase may choose to support it. Come on, Coinbase. Over the coming weeks, we will keep you updated on this event through our blog, status page, and Twitter. Thank you Coinbase team. Bitcoin price falls to five-day low following fork currency creation. The price of Bitcoin fell to a five-day low today through the reasons why are perhaps complex to unpack. At this time, the Bitcoin USD exchange rate is 57.10 up from a daily low of 55.60 as per CoinMarketCap. Week on week, BTC is up 3.3%. While on a monthly basis, it's up 55%. However, if you're looking for a culprit for the dip, industry believers and observers are so far pointing to the creation of Bitcoin Gold yesterday. A new cryptocurrency cloned from Bitcoin. Bitcoin Gold is now in the process of forking to a new blockchain with new rules. A process by which the Bitcoin blockchain is copied and new digital assets are distributed to existing Bitcoin owners. As put forward by analysts including blockchain capitals Spencer Bogart, a former head of research and Neatham & Co., the decline could bring BA sign investors are moving money to alternatives now that Bitcoin Gold has initiated the fork. Bogart's argument is that Bitcoin rallied ahead of the launch in anticipation that holders would be credited with Bitcoin Gold. So people went in and wanted to buy because they wanted some of that free coin, which just obviously makes sense. However, it's unclear whether this could be the case as the new cryptocurrency was not yet distributed. Investors may have simply switched out of Bitcoin positions on the basis further sell pressure is ahead on the distribution. So the other opinion is that people are now getting out thinking that everybody has these coins. They're going to be selling them and there's going to be a major sell off. So people are just getting out wanting to get out before people sell it and take it down. But while it is too early to tell, the next question is simply is the pullback in Bitcoin over? Price action analysts suggest a potential for further losses. Well, of course there could be further losses. Bitcoin is at all time highs. Bitcoin Gold aside, the retreat from the record highs above 6100 can also be credited to overbought technical conditions and in this light considered to qualify as a healthy correction. The chart above shows bearish price relative strength index RIRSI divergence bearish price money flow index MFI divergence. So you can see where the price has been coming down through the RSI here and the money flow price has been coming down. Obviously and the channel formation has been obviously coming up and then just coming down here. But this is just an accumulation. I truly believe this will just continue to go up. Rising trendline dotted line dotted blue line support is seen around 5280 levels. So you could see here around 5280 is where they're seeing the support line. I don't like I said, I believe we could see it go back down to 2000 3000 maybe temporarily for a great buying opportunity. But I don't believe this will ever go back down to those levels for a long period of time. I believe this will just continue to accumulate and accumulate and it may retract for a short period of time creating buying opportunities where we have to sniper trade quickly and act smartly and efficiently. But long term, I believe this will continue to rise because of the small supply. The view the doors are open for a drop to the 5280 levels only a daily close between 5280 will signal the rally from the September low of 2980, which seems like like light years away, which was only two months ago has topped out above 6100 levels. A bullish scenario, a move above five day moving average level of 5950 could yield a retest of record highs above 6100. So what this is saying is it could go down to 5280. Nobody really thinks we're going to see anything like 2980. It doesn't seem likely, but anything can happen. But there's also a likelihood it could go back up to 5950 and push that 6100 level. We'll see. Only time will tell. Bitcoin gold, is this Bitcoin gold? Bitcoin at 5519. What's going on in the markets? Bitcoin the mothership. I told you guys buy Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin. I love all the big all the top points. I love them all the top points. Be careful with the altcoins. Be careful with the ICOs. Do your due diligence. Remember, I'm not licensed. Rich TV Live is strictly for educational and entertainment purposes. This is Bitcoin gold, the aftermath. It ain't even finished. It's still happening. Is this Bitcoin gold? I love you guys. Make sure you like and subscribe. And remember, you're not winning. You're not watching. This is your boy Rich. Oh yeah, by the way. I'm going to be going to the Cayman Islands. We're doing a movie. We're going to be doing a TV show. Just blessed. All right party people. This is your boy Rich. And I'm Bitcoin gold, the aftermath.