I will just repost what I posted on the other site
Green Water set up is the set up contains green algae, fish, tank, light source and air stone. Green algae is a single cell element that take ammonia+light as their food source. Unlike clear water, it doesn't release any secondary product such as nitrite or nitrate back to the water. Ammonia, Nitrite and nitrate will be zero all time. According to the water parameter point of view, green water is the best for gold fish.
On the other hand, fish will consume algae which has a good percentage of protein (I think it's more than 60%, I am not sure for the number.) It's like feeding them green every day which we have to substitute with pea in clear water system. It is also a constant feeding system with a very small amount of food. Since we are constantly giving our fish with green, our fish in green water hardly get SBD.
As a result of good water parameter and good food, the fish in GW tend to grow fast. Color gets brighter and better wen growth.
But in gw set up you have to change at least 90% of water once a week. Since too much can cause oxygen burn to your fish. And you won't see your fish by the day b4 water change is scheduled.
This is a balance between how you want to treat your fish VS how you want to enjoy them. For me, I want to have my fish in a good environment.
Here is one of my green water setup