Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Cash Forum => Topic started by: Zed0X on January 23, 2020, 08:08:41 AM
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I don't really follow the development of this coin but I came across this blog on twitter - Infrastructure Funding Plan for Bitcoin Cash (https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e)
They will be requiring miners to "donate" 12.5% to support the bcash ecosystem and anyone who doesn't follow will have their blocks orphaned.
To provide this funding, we intend to direct 12.5% of BCH coinbase rewards to a fund that will support Bitcoin Cash infrastructure.This funding will last for 6 months, and it will provide significant and much needed support to the Bitcoin Cash ecosystem.
To ensure participation and include subsidization from the whole pool of SHA-256 mining, miners will orphan BCH blocks that do not follow the plan. This is needed to avoid a tragedy of the commons.
This must be the new method for "crowdfunding" now (miners turning into donors) ;D
Don't you guys think this move makes the whole bcash project centralized?
It appears that the current investors funding bcash are no longer willing to pump more into the development fund. Also, if more miners will not approve this, the whole project could go down. What would Roger do if that happens? Increase bock size again?
(https://pbs.twimg.com/media/EO7ejDFX4AA1ynZ?format=jpg&name=small)
(source (https://twitter.com/BitcoinMemeHub/status/1220157257289216004))
(Disclaimer: I've already posted a similar topic in another forum)
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In response to this, the miners issued a protest and promise to fight against an unjust tax, miners can also attack 51% or arrange a hard fork and support the “old” branch. A very serious confrontation, we will wait for the development of events.
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They are doing this because they just want to get the development funds internally. I think its totally up to the miners. If they want to pay the fees then it's okay if they don't want to they can protest about it. But I think force paying rules are not good for the company.