Bitcoin, meanwhile, has been dubbed “digital gold” in the past and it’s a fair comparison with gold as they share similar characteristics . Bitcoin and gold both have significant advantages over fiat currencies because neither can be diluted or debased and both are often seen as ways to diversify a portfolio.
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Unlike bitcoin and Bitcoin Cash, Bitcoin Gold uses a different algorithm called ‘Equihash’ . As Bitcoin Gold is designed to be more accessible than its fellow cryptocurrencies, it uses graphics processing units (GPUs) or graphic cards to allow people to mine.
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