On the future of Miners donating rewards to BCH developer support

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Avatar for Big-Bubbler
4 years ago

I am all for supporting developers with some mining rewards. I really appreciate the miners/pools offering to try to make this happen. What I think is/was bad about the recent plan was forcing all miners to lose 0.44% of potential profit against their will. Personally, for a variety of reasons I am ok with making people who do not want to donate 0.44% to BCH developers lose this potential income anyway, but, I can see that this is a legitimate gripe.

I believe most who gripe will be doing so because they are anti-BCH, only care about BTC or are making the decision based on short-term greed (ignoring the longer term increase in value). I would feel bad for people who do not fall into these categories and just cannot afford the loss of 0.44% of what they were expecting to get or just can't stand being told what to do with their money.

I think mining hash moving from chain to chain is permissionless and the people controlling the hash moving away from BCH to avoid supporting BCH developers are the people BTC miners should get mad at. Maybe if we had miners committing to keep up the mining hash on BCH (pay the full 12.5%) it could solve that concern?

Assuming we do not find a solution like that, I agree with this quote from Emil Oldenburg (CTO, Bitcoin.com)(https://read.cash/@EmilOldenburg/necessities-for-funding-plan-to-work-74e801e9):

Please keep in mind that this proposal can only work if a majority hashrate supports it. We are not doing this to enrich a few individuals, but to strengthen Bitcoin Cash as a whole. Without majority hash support behind it, this effort could risk a chain split.

My concern is what hash rate majority does BCH think it can get? I do not know. Maybe the majority of all the Bitcoins' hash is BCH-friendly? I would love to believe that. I do think we can get majority support from BCH-friendly miners for a plan. I would be surprised if we could get a majority of all of the Bitcoins' miners to agree to support BCH developers.

I believe it was anti-BCH forces dividing the the BCH community the last week or so that stopped the original plan. The plan was full of unsettled issues and the attackers used the uncertainties to spread false assumptions about what was going to happen. Anyway, unless most of all the Bitcoins' hash is BCH-friendly I think we will need to be very wary because the anti-BCH forces are still circling and looking for weaknesses to divide out community further.

They are good at pretending they are a part of the BCH community and that they represent a majority view even though they work for dark money that hates BCH and they are not real people with real opinions (rather they are mostly professionally implemented social engineering agents).

They are very good at ensnaring and enlisting real people into their web of lies. But, of course, not all anti-plan voices are anti-BCH and not all of the pro-BCH people opposed to the past plan were under the influence of the "trolls". I never intend to suggest that even though the trolls like to pretend that is what I am saying.

I hope BCH-Friendly hash is the majority because these social engineers will make gathering support very difficult even if it is a great thing for BCH and the BCH community. IMO, even if it is known to be good for BTC and BCH, there will be attacks from those who cannot stand supporting BCH developers.

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4 years ago

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