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Bitcoin Gold Clarifies Premine Endowment

The Bitcoin Gold team has offered clarification regarding what was previously a somewhat confusing position on the supplies of Bitcoin Gold after the airdrop. The issue stemmed from the confusion surrounding the meaning of the term ‘pre-mine’, and what the new chain was attempting to do in mining new coins.

Clarification came today via the Bitcoin Gold website where a full explanation was given. The premine, according to the explanation, was actually a ‘post-mine’ – a mining of 100,000 coins after the fork had already occurred. The team did this via a rapid mining of approximately 8,000 blocks at 12.5 BTG per block.