Digital gold Bitcoin is often being described as digital gold. Same as gold, it is scarce and being mined and released into circulation at a fairly predictable rate. It is impossible to counterfeit. It is fungible, meaning some gold is not better than any other gold. It is divisible to a high degree. It can be anonymous. It has most of the properties of gold, but improves them. It’s much easier to transfer, for one.

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Maybe you’ve heard about the recent attack on Bitcoin Gold exchanges, where the attackers stole some BTG using a form of double-spend attack. Now, you might start to wonder: How is that possible? The genius of blockchain is in preventing exactly this type of attack. But this crucial property holds only under certain network conditions. Let’s explore how such an attack is possible and what you can do to protect against it.

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Bitcoin can be forked. It’s almost a magical process, doing a fork. Money, raining from the skies. You will realize how magical it seems, once you try to explain how the fork works to someone not familiar with cryptocurrencies and blockchain in general. What do you mean? You have some bitcoin, and then suddenly you have also some other coin? So the original bitcoin is split in two? Does Bitcoin lose half of it’s value then?

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