EOSEthereum

? Bitcoin Cash Developer Fund A 12.5% Tax?? 6 Months Or Forever? Will It Lower Network Security?

Topics & Timestamps:

00:00- Intro

00:51- Good or dangerous thought?

01:40- Shout-out to https://read.cash

02:00- Whats taking place? Starting with Amaury Sechets article (deadalnix)

08:38- Sockpuppet throwaway accounts to sway opinion? It needs to be token holders who’ve a say.

10:20- Does it matter who proposed this? (Jiang Zuoher vs Amaury Sechet) The thought ought to stand by itself.

11:52- A tax or not a tax?

13:20- Acknowledgement to Roger Ver for sustaining uncensored dialogue platform (in comparison with Bitcoin break up into Bitcoin Cash which concerned censorship)

14:30- Why “12.5%”? Should there be a tough fork? Comparison to scaling debate of 1MB and bigger blocks.

17:36- Six month plan. Is this practical? 6 months or will or not it’s ceaselessly?

20:15- Who ought to management the funds?

25:18- Will hashrate drop because of the 12.5% discount in block reward?

Softfork or Hardfork?

Voluntary or forceful?

? Article by PeterRizun

The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead

https://read.cash/@PeterRizun/the-best-of-intentions-the-dev-tax-is-intended-to-benefit-investors-but-will-corrupt-us-instead-012f5dbd

? Article from Jiang Zhuoer (BTC.TOP)

Infrastructure Funding Plan for Bitcoin Cash

https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e

? Article from Amaruy Sechet (Bitcoin Cash ABC lead developer)

On the infrastructure funding plan for Bitcoin Cash

https://read.cash/@deadalnix/on-the-infrastructure-funding-plan-for-bitcoin-cash-bd372a10

? Article by jonald_fyookball

Little Known (But Important!) Facts About the Mining Plan

https://read.cash/@jonald_fyookball/little-known-but-important-facts-about-the-mining-plan-a1f1fe13

? Article by ZeusOnCapsules

Hard fork it

https://read.cash/@ZeusOnCapsules/hard-fork-it-e466c21e

? Look at all these FRESH accounts being used in /r/btc

https://www.reddit.com/r/btc/comments/etk8hd/look_at_all_these_fresh_accounts_being_used_in/

– – – – – – – – –

Disclaimer: This video is just not monetary or funding recommendation. Do not purchase, promote or commerce cryptocurrency, or make any monetary selections based mostly on the content material of this video. I’m merely sharing what I’ve executed and what I’d do in varied conditions as an academic software solely.

#bitcoincash #fund #developer #cryptocurrency #tokens #cash #bitcoin #btc #blockchain

Earth Spin Animation – kNews.area – all rights reserved

– – – – – – – – –

?Colin Talks Crypto?

? EOS donation deal with/account title: colintcrypto

? Ethereum (ETH) deal with: 0x5b90414Aeb115f910698304E63C2C3092739c9c0

? Bitcoin Cash (BCH) deal with: qpzc3apy9s8x2qtlqxxgnalfxtzgnkg5nq352w9k2t

? Bitcoin (BTC) deal with: 1Da6ivdriJpzqnLkNEa1XnKk5nGCiyRZrF

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? Bitcoin Cash Developer Fund  A 12.5% Tax?? 6 Months Or Forever? Will It Lower Network Security?

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38 Comments

  1. I like the decred model 10% of all mined coins to a development fund, which stakers vote on what to develop.

  2. you have to look at bigger picture here …Fund will help with development of Bitcoin Cash and adoption and this is most important..ofcourse some miners are complaining but who cares go and mine something else..

  3. Those who will benefit the most out of this tax are promoting it the most. Just follow the money. Then the purpose of this controversial suggestion is almost for sure to divide the community on purpose. Divide and conquer is an old strategy which works very well still today and it is used by those in power to centralize their power even more.

  4. If this gets implemented the Hong Kong company will be the promoter of BCH which makes BCH Howey test compatible which throws it under SEC mafia rules which might be the plan here all along. Plus the ones that are promoting this dev tax are speaking with words like "must", "fact", "truth", "6 month plan", "with good intentions for benefit of all" etc.. does it sound familiar .. yes it is communistic talk.

  5. Some corrections: miners will not mine at a loss when they mine BCH, only for a few blocks in the beginning, BCH hashrate will not drop 12%, max 0.5%, most likely 0%

  6. Collecting the funds is only one side of the coin, who decided's what developers do or do NOT get funds, sounds like a perfect way to invite politics and corruption into a chain.

    I don't care about bitcoincash anyway, not feeling it as a project.

  7. Why is BCH under constant attack with this bullshit. If it goes through I'm out of bch for good, but I really hope it doesn't.

  8. Good and fair points Colin

    The biggest point to me is why would any miner take a 12.5% hit?

    Mengerian says that the real cost to miners is 0.3% as they already allocate mining to BCH based on percentage of total sha256 hash rate which is 3% multiply by 12.5% which gives a reduction on BCH of 0.3% hash rate.

    I am unclear on the mechanism of how it will work.

    Is each block an adversarial contest now between miners who want to pay and miners who dont?

    If the majority of active miners are temporarily against the 12.5% at a new block does that mean the block will not be orphaned? Or is there coding in place to take it anyway?

    Nobody has mentioned that really long term this is not a permanent solution to funding. The block reward runs out in 120 years so what then?

    Would funds raised from a transaction fee that the user can voluntarily pay at the wallet implementation level not be more permanent and less controversial?

    This 12.5% equals 1 million dollars a month. Is this not excessive? I dont know.

    And agreed who decides is crucial. Should it not be those who pay?

    One final point. Can this change be used to cripple BCH down the road? Whats to stop the dev fund being arbitrarily raised to 90%? Or funding special interest projects that harm the fundamentals of BCH?

  9. 12,5% is huge. It should be 1,25% and it's still a hell of a lot of money. We all should understand that when the price of coin will increase will the 12,5% too. In dollars.

  10. When something big change takes place and even with successfully manner, we can't know what after effects it will cause. It's like taking a medicine and your symptons fade away but causing other side effects. Imo this is risky move already in very risky market, be careful.

  11. Miners will always mine whatever is most profitable. When more hash power switch to mine BTC then BCH will be more profitable to mine. So let's asume price donesn't change then the hash on BCH will drop but not by much.

  12. I'm glad we have some months till we might get some better details hopefully of how this would be used more precisely. I would hope some kind of token voter system would get created maybe slp tokens would be involved. Just about everyone in bch is very skeptical which I love. If enough sha-256 miners switch over to mine bitcoin or bsv instead, difficulty would lower enough within a day on bch to balance out , I believe there's an "EDA" emergency difficulty adjustment that can happen in 12hrs if hashrate drops significantly it will adjust difficulty downwards, ''hopefully bad effects on profitability would be negligible after that'' for bch miners. I tend to agree it's more or less a tax on miners. I'm 50/50 undecided atm as a bch holder. If these funds are used in a strong business model it could work out potentially Thank you Colin for putting a face to the discussion.

  13. It reeks of uncertainty and chicanery. 12.5% ! WOW ! That's alot. Kinda bold and aggressive move to come in with that number. Why not 2.5% for two years and then reevaluate to see if it's worth continuing or increasing. At least the British asked for only 1% at first.

  14. I like your reasoning. I think a tax should ONLY be for the benefit of ALL. What if a developer was working on something good but not critical would we still find that. Committees are often rife with "do gooders". That can gum up the works.

  15. Colin, as much as I like you, bro. This is the first time That I think your opinions are like everyone else. It couldn't be this simple and intuitive.

  16. Great stuff Colin. From their actions, you will know them. This is a tax to centralize and disrupt BCH. If they put it through, BCH will just fork and move on. Another attempt at fing up the best coin out there. Developers are working just fine. Putting this tax on every miner will not be good for the network, and it will go to? and knock out smaller miners.. If it ain't broke, don't mess with it. I like your analysis.. but i wouldn't need to dive in so deep. What is happening? why? it is nonsense.. really.. Let them put a developer tax on something else and see how that goes.. Like BSV.. That stuff is already a mess.. you really couldn't screw it up if you tried. hehehe… BCH and EOS man!! We need freedom.. now! BCH privacy wallets are coming.. lets get that EOS community going too!!

  17. On a corporate software project the funding amount comes only after figuring out how many bodies (pardon me, "resources") are needed. I am questioning the 12.5%, among other things.

  18. I don’t undeserved why people that are following BCH for its technology and user interface, don’t seem to notice the wonderful user experience and almost SUPERIOR technology of SMARTCASH… I don’t get it.
    Maybe it is the DRAMA of BCH?
    SMARTCASH just GREAT TECH, NO DRAMA 😊

  19. There's a reason the majority choose btc. This is one of the reasons I did. I believe its dependent for now on roger ver and bitmain. And from everything I have seen both have been questionable leaders imo

  20. YES!! I’ve said it before, and I’ll say it a ton more…Colin Talks Crypto, MAG Truth, and Tyler S are the only youtubers I look forward to! Genuine, real people, giving you their real opinion. NO AGENDA. Won’t find that on YouTube anymore

  21. Not a fan of this proposal tbh. Miners should just hire the devs themselves, instead of a mandatory payment. Bitcoin unlimiteds Peter Rizun has the right idea.

    Personally not a huge fan of deadalnix. He was fundamental in 2017, but he should just get hired instead of changing the entire ecosystem.

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