Recently Jiang Zhuoer of BTC.TOP announced the intention to create an Infrastructure Funding Plan (IFP) for Bitcoin Cash. This plan set off much discussion and debate within the Bitcoin Cash community. Some parties were opposed to the very concept of miner funding. Others were supportive of the intent of the...
RT @PeterRizun: 1/2 Amaury Sechet is literally modifying the BCH protocol to issue coins to him and his friends. Due to the poison pill, miners and exchanges must upgrade before May 15. If they do as usual and download the new version of ABC, his plan succeeds by default
When @bitcoincash hardforks again and creates a new bitcoin, I propose the new baby bitcoin be called "Bitcoin Tax"! 😁
This way we can all remember the origin of the new baby bitcoin. https://t.co/oESBQyNPCS
Getting tired of witnessing a game of children decreeing what will be done, in spite of the risk of a chain split.
I'm more convinced every day that these people (not just abc) are not capable of being at the front of a major cryptocurrency. We want mass adoption of BCH but how can a project become big and succeed with this clownfiesta of power thirst within the main implementations? Developers should just stick to coding because they obviously are not well rounded to handle other matters.
It's a shitshow there, forks are being thrown left and right, poor bagholders realize they are not so free and democratic as they thought, as well as that they have shit to say in this whole matter coz a corporation controls BCH and does whatever the fuck it wants.
> poor bagholders realize they are not so free and democratic as they thought, as well as that they have shit to say in this whole matter coz a corporation controls BCH and does whatever the fuck it wants.
But I was told it was decentralized. Are you telling me there's actually been a central authority that could do whatever they want all along? Next you'll be saying that mining pools are a defacto central authority because upwards of 60% of them are located in China and colluding there...
I'm against this, it goes against what bitcoin is , the white paper doesnt mention this anywhere and feels like they are trying to pull up a block stream 2.0 situation and capitalize on bitcoin directly.
If the miners want to donate 5% of their money to favoured developers/projects, what’s stopping them? Why do they need to change the protocol? Why can’t they just give some of coins they mine to their favoured projects? Why would they risk yet another split and the inevitable loss of value, not to mention further loss of confidence in the whole idea of decentralised money?
Why was i downvoted again? This conversation was open in Jiangs weibo all along like a month ago?
In fact, Jiang even said OPENLY there would never be any split because the chinese miners will use the 10 rolling checkpoints and work together with exchanges to prevent any forks against the dev funds.
PS: Roger is said to be on the chinese miners side, according to Jiang.
Then you better get ready to remove your coins from exchanges like Coinex, Huobi, Bittrex, Bitmex, Poloniex and other chinese influenced exchanges. Any forked version will be invalidated due to rolling checkpoints and exchanges without hash power will be forced to not accept them as well. The ticker supporting the dev funds will be called BCH.
Is it really a split if no exchanges list your forked coin? 🤪
But it prevents exchanges without hash backing to not list the minority coin. In this case, the Chinese have majority hash (from all three chains) and more exchange influence than Roger.
I mean Roger can still fork away if he wants but he goes the route of BSV and his coin wont be called BCH.
> But it prevents exchanges without hash backing to not list the minority coin.
no, it doesn't. rolling checkpoints do nothing whatsoever to prevent an intentional fork of this sort.
and the 800lb gorilla that you aren't seeing is that exchanges have a strong inventive to list forks. it's terrific business for them when a coin splits. exchanges would be suicidal to let all that business go to their competitors.
Exchanges have a strong incentive to list a fork until they dont. Just look at Kraken and Shapshift and Binance regarding BSV scamfork.
If Jiang is serious in pushing through with the dev plan, you can be sure the coin without dev fund will go the way of BSV. Last i check in CMC, the top 50 BCH trading volume are from chinese exchanges.
I can only assume that there are powerful people behind the scenes that made them offers they couldn’t refuse.
This coded in tax is so obviously and blatantly against everything Satoshi stood for, no one in their right mind could possibly approve of it.
I can remember ten years ago thinking there is no way bitcoin could fail. It’s obviously a better product than the current model. Now I see what satoshi meant when he said he all but expected it to fail.
Edit: ugh. This is so infuriating. Satoshi invented something that can permanently solidify capitalism without corruption for the foreseeable future and all people can do is fuck with it so it no longer can work as intended.
You want funding. Do what you’re supposed to and secure it on the open market! For fucks sake!