Shauli Zacks
Published on: May 9, 2025
In this interview, SafetyDetectives spoke with Jack Liao, the visionary founder of Bitcoin Gold (BTG). A Bitcoin miner since 2012 and CEO of LightningAsic, Jack has been at the forefront of crypto hardware innovation—developing mining machines, ATMs, and hardware wallets. But perhaps his most influential contribution came in 2017, when he launched Bitcoin Gold to defend the principles of decentralization and to hedge against what he saw as a looming Bitcoin civil war.
Bitcoin Gold Founder Jack Liao on Decentralization, ASIC Resistance, and What Comes Next
Jack Liao has been a key figure in the cryptocurrency world since 2012. As a Bitcoin miner and CEO of LightningAsic—a company that developed mining hardware, ATMs, and hardware wallets—he’s been deeply involved in shaping the infrastructure behind digital currencies. But it was in 2017 that Liao made his boldest move: launching Bitcoin Gold (BTG) as a hard fork of Bitcoin. His goal? To preserve the decentralized ethos he believed was slipping away as mining power became increasingly concentrated.
Defending Bitcoin Through Decentralization
Bitcoin Gold was born from a clear vision: to reestablish Satoshi Nakamoto’s ideal of “one CPU, one vote.” Jack saw the threat posed by centralized ASIC mining early on and anticipated the growing divide within the Bitcoin community. To hedge against what he described as a potential “Bitcoin civil war,” he began developing Bitcoin Gold in 2015. By June 2017, the project was officially launched.
At the time, BTG was viewed as a form of hedge—a small-block Bitcoin alternative that could survive if the core network lost community trust. Liao quickly built out a decentralized leadership team, elevating five active community members to co-founder status and transferring control of critical infrastructure to developers and community managers. By the end of 2017, he had exited active management, intentionally stepping back to let BTG grow without centralized control.
The Promise and Pitfalls of ASIC Resistance
One of Bitcoin Gold’s most defining features was its commitment to ASIC resistance, achieved by relying on GPU mining. This allowed smaller miners and home setups to remain competitive, supporting the project’s decentralization goals. However, decentralization in governance proved more difficult.
“The biggest challenge was distributed management,” Jack reflected. “After I exited, the team lacked direction. By 2022, the project was effectively dead—no new code, no community growth, not even a functioning Twitter presence.”
This stagnation coincided with serious security issues. BTG suffered multiple 51% attacks, which undermined user trust and highlighted the risks of smaller mining-based networks.
Rejoining the Bitcoin Network in 2025
To address these issues and complete what Liao calls the project’s “first phase,” Bitcoin Gold was merged back into the Bitcoin network in January 2025. The transition brought major technical changes: BTG adopted Taproot, began using Op_Return functionality, and eliminated mining entirely. Now, as part of the broader Bitcoin ecosystem, BTG shares its security framework.
“The only way to avoid 51% attacks in a mining chain is to add checkpoints,” Jack explained. “But today, there is no mining. BTG is at the same security level as Bitcoin.”
With this shift, BTG has moved into its second mission phase—supporting and developing Bitcoin applications. The new goal: to become the leading Bitcoin-based asset.
What’s Next for BTG—and Investors?
In today’s crowded crypto space, Bitcoin Gold no longer positions itself as a rival or hedge, but as a Bitcoin-native asset aimed at helping grow the ecosystem. Liao is clear: BTG is not a mining token anymore.
“For those interested in investing today, I’d say this: invest in innovation. Invest for the future. It’s risky—but markets reward the brave.”
Jack Liao’s journey with Bitcoin Gold reflects both the promise and the pain of decentralization. His commitment to protecting Bitcoin’s founding values may have cost BTG its momentum in the short term, but with its reintegration into Bitcoin and a renewed focus on utility, BTG’s legacy might just be starting a new chapter.
