Bitgesell Price Prediction

Written by Andras Crow-Hreidr, norwegian journalist.

Full Medium article: https://medium.com/@andrascrowhreidar/bgl-price-prediction-6b2ca8fffa46

Bgl Price Prediction

BGL, or Bitgesell, calls itself the future of Bitcoin. But what are the features that put this coin on the same lists as BTC? Or which features have made Bgl different from Btc. Let’s talk about these first: First, Bgl has a smaller block size than Bitcoin. Apart from that, it is predicted that Bitcoin will be able to show its developments in a much shorter time with the halving of the block reward that will take place every year.

What Are The Differences Between BGL And BTC?

First of all, the project has come to the forefront to eliminate the shortcomings of BTC. For this reason, it would be more accurate to evaluate the differences between Bgl and Btc at this point. The designers of the Bitgesell project first seem to agree that Bitcoin is not a real digital gold and that Bitgesell can fully meet this definition. For this reason, they have a lot of confidence in their project, and despite being a new project, they have managed to gather a lot of sponsors. 

What are the differences of this project (BGL)?

First of all, it may be possible to explain this issue as follows:

 According to Bitgesell, Bitcoin cannot be true digital gold due to its high computational power. This is because normally distributed nodes and miners ensure that there is not enough computational power for a single confirmation, requiring multiple confirmations. While this makes the blockchain secure, it raises serious process-cost issues.

For this reason, Bgl creates differences at some points.

T

hese differences mean that Bitcoin has already exceeded this limit according to its own data. Today, only a fraction of the processing power is considered sufficient to secure the network. This results in both speed and technical differences.

Bgl Technical Specification

When describing the technical features of Bgl, it would be more accurate to give an example from Btc. Because Bgl is completely designed to eliminate the shortcomings of Btc. Undoubtedly, the first technical topic is about all Bitcoins finding their place in wallets. If all Bitcoins are mined in the future, all miners will rely on computing power to stay in business.

According to Bitgesell, a small reward might be enough to keep miners operating profitably. However, a segwit-based lightning network could cause miners to move away from Bitcoin. In this case, miners would not be able to make a profit because transaction fees are too low.

Finally, block rewards are likely to be very low in 2140, as Bitcoin supply will not run out until 2140 and block rewards are halved every four years. According to Bitgesell, BTC holders will therefore have to wait about 120 years for Bitcoin to really appreciate.