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To Our Customers, Regarding the Bitcoin Cash Network Upgrade in November

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  168
10 months ago
Topics: Bitcoin Cash

Dear Bitcoin.com Customer, 

Our mission at Bitcoin.com is to bring decentralized peer-to-peer electronic cash to the world, as we believe this transformative technology can truly engender economic freedom and greater individual liberty for everyone on Earth— especially you.  Presently we believe the incarnation of this technology that is most essential to our mission is Bitcoin Cash, and for that reason we feature this particular cryptocurrency above all others in every product we build for you.  We deeply desire to see Bitcoin Cash continue to grow and mature as peer-to-peer electronic cash and to become widely accepted as money everywhere so that you may transact with whomever you want, whenever you want, and wherever you want, free of destructive and intrusive centralized financial authority or costly and inefficient middlemen. 


One of the greatest things about Bitcoin Cash— and Bitcoin as originally envisioned by its creator Satoshi Nakamoto— is that anyone is free to associate with this vision of peer-to-peer electronic cash or not.  Additionally, those who desire also have the right to modify anything and everything that has been created in the greater Bitcoin open source domain since its inception so that they may offer their own competing vision for the future.  Bitcoin Cash itself was born of one such competing vision when it split from Bitcoin on August 1st, 2017.  In fact, these splits have happened numerous times in the history of both Bitcoin and Bitcoin Cash.

Over the past decade, free association and the right to modify have given rise to competition and choice in the greater cryptocurrency marketplace and that is definitely a Good Thing™ for the world.  This does not come without a price for some, however.  As more and more splits happen, developer teams become more and more fractured, and the market share and real value of individual implementations diminishes.  This has been true of Bitcoin Cash in the past, and current circumstances indicate it may be at risk of happening again during this year’s November network upgrade. 

Recently, competing teams of open source software developers have proposed changes to the Bitcoin Cash network that diverge at the fundamental level again.  These changes are scheduled to take effect in November.  The main point of contention between these teams is whether or not to implement a technical and economic mechanism to fund ongoing open source software development.  This mechanism, colloquially known as “IFP”, has been controversial to say the least.  Endless debate of its technical, economic, and governance merits (or lack thereof) rages on in social media and in private and public meetings.  

In this situation— as has happened in the past when developers have been unable to reach consensus— it appears that the network will ultimately decide as to whether IFP is implemented or not, and whether any new coins are created in a split from Bitcoin Cash as a result.  The role of the network participants that decide such things is that of the “miner”.  Those who mine Bitcoin Cash— whether they are dyed-in-the-wool Bitcoin Cash true believers, or opportunists who choose only to mine when there are conflicts such as this— will vote with their respective computational power in accordance with the bitcoin protocol.

Bitcoin.com is one such miner and for the record, we will not be mining with any Bitcoin Cash software that implements the IFP feature in the November 2020 network upgrade.  At this time we also have reason to believe that most other miners have come to the same decision.  Ultimately and irrespective of our choice however, market forces will determine whether or not IFP is implemented and when. 

The reason Bitcoin.com is choosing to run software that does not implement IFP is that we do not observe that this feature is supported by what we see as a prerequisite governance model necessary to ensure that funding raised via its use is spent in furtherance of the vision of Bitcoin Cash that we freely associate with.  Thus, we can neither risk our vision of peer-to-peer electronic cash nor the future value of our customers’ Bitcoin Cash by implementing IFP at this time.  Furthermore, we encourage all network participants who share our perspective to run only Bitcoin Cash software without IFP specifically during the November 2020 network upgrade.


We understand that proper funding for Bitcoin Cash network development is needed in order for the network to grow and mature along with the rest of the cryptocurrency marketplace.  Certainly the IFP feature itself, incomplete as it may be without a corresponding governance model, is an attempt to address this serious need. With this in mind, Bitcoin.com will continue to fund ad hoc Bitcoin Cash network development as we have done in the past, and at increasing levels commensurate with the growth of our company.  We additionally desire to join free associations of developers as a financial supporter of and corporate participant in development and we will continue to encourage other businesses in our industry to do the same.  Thus in our view, the ideal outcome this November would be for all competing Bitcoin Cash software implementations to jointly agree to not implement the IFP feature at this time and instead come together to form such a free association so that we may also join and contribute. 

Personally, I am willing and able to assist in any way I can in such an endeavor and I will continue to reiterate our vision for peer-to-peer electronic cash and our position in this matter at each and every opportunity I have with any network participant… especially our customers and users of Bitcoin Cash.

Finally, to you, our customer, I want to assure you that your funds are safe.  Whether you transact using the Bitcoin.com Wallet, trade with Bitcoin.com Local or the Bitcoin.com Exchange, or wager with Bitcoin.com Games, all of our products will continue to support Bitcoin Cash come November, 2020. 

Free the markets, free the world. 

Sincerely, 



Dennis Jarvis

CEO, Bitcoin.com


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  168
10 months ago
Topics: Bitcoin Cash
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Comments

Nice approach

$ 0.00
10 months ago

The bit coin market is free. Anyone is free to associate with this vision of peer-to-peer electronic cash or not.

$ 0.00
10 months ago

Great!

$ 0.00
10 months ago

Go BCH🥳

$ 0.00
10 months ago

@Cold3ndice pano sini? Hahaha

$ 0.00
10 months ago

if your are dealing with china understand this.

you are insulting if your ask for money or donation.

you do work and get the goods as reward. simple.

this is a USA operation to bring down crypto.

dont listen to the american they only want to cause problems.

jarvis is a puppet and just a voice with no power.

ver will make him clean the toilets when this is seen.

again be careful and just run with the pool who is hitting the blocks and getting paid.

the china miners run this all so why even complain you can not compete only join and work as a community and do as told.

the only option or run a new coin which will pay nothing.

bch is the only way if you dont understand.

www.infowars.com www.banned.video wake up americans your being controlled. wake up watch listen to jones. not relevent to bitcoin but learn about what is going on in the world.

this is psychological warfare.

$ 0.00
10 months ago

Well done. Go BCH!

$ 0.00
10 months ago

I don't like seeing the people who claim to go with "whatever works" take sides against the strategy that would provide the real funding to development that is needed. Their position is well stated though. Claiming they believe the majority of BCH miners oppose the IFP could be wishful thinking or dishonesty used to manipulate the community. I hope Bitcoin.com is not stooping to such tactics.

$ 0.00
10 months ago

Wow. Good contain, Bitcoin is very strong project, BCH with same company? I don't know

$ 0.00
10 months ago

Nice move for BCH we will support :)

$ 0.00
10 months ago

Look forward to its upgrade.

$ 0.00
10 months ago

Kindly Visit this post and Need your sopport

https://read.cash/@ar114/need-funds-for-poors-to-buy-food-4c3b7c3c

$ 0.00
10 months ago

Nice article

$ 0.00
10 months ago

Thanks so much for the update Thou am looking forward to be sponsor by you😭😭😭

$ 0.00
10 months ago

Well done BCH. Go ahead.

$ 0.00
10 months ago

Bch ftw❤️

$ 0.00
10 months ago

nice post to confirm wallet is okay and services will continue. bitcoin.com did support the original plan. look at the article below.

here is some other info from a few months ago.

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

at the bottom of article. We will work with the various Bitcoin Cash node implementations to include code to implement verification of this miner funding as part of the May 2020 protocol upgrade. Supported by:

Jiang Zhuoer — BTC.Top Jihan Wu — Antpool, BTC.com Haipo Yang — ViaBTC Roger Ver — Bitcoin.com Chinese Versioin: 《比特币现金的基础设施融资计划》 so bitcoin.com did support the original plan as seen above.

here is another from abc

https://read.cash/@Bitcoin_ABC/ifp-questions-and-answers-08522a53

again 3 months ago.

it looks like this was the plan all along to have this IFP long ago what you see now is just a side show to have more interested in the space.

jarvis i do not trust guy is a fraud. but i hope the slipt will not happen.

other than 6million usd being raised. the funds will be held by a hongkong account. and spent where fitting to improve bch.

no point splitting and arguing over this. its always been the plan. so either run the update in November or as said on the abc read cash

5.On Orphaning

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.

so why is bitcoin.com changing their mind from 3 months ago. maybe different c.e.o. but they will have to run the majority chain and hash after all said or go the same way and run bitcoin cat. which is a laughable thing to consider.

just read the old article on this and understand what the actual miners say about this

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

https://read.cash/@Bitcoin_ABC/ifp-questions-and-answers-08522a53

$ 0.00
10 months ago

Just a correction, Roger/Bitcoin.com supporting it isn't exactly true. https://bitcoinist.com/roger-ver-i-didnt-sign-12-5-bitcoin-cash-bch-miner-tax-proposal/

"According to Roger Ver: I didn’t sign this. There was definitely discussions and I thought the talks were still ongoing when all of sudden this was released with my name at the bottom. I don’t think my name was released with the intention of getting one over on everybody. I think it was just a lack of communication, lots of time zones [and] lots of different languages."

$ 0.00
User's avatar KC
10 months ago

okay didnt see that before. after seeing this its is a designed article on bitcoinist.com for the western reader viewer. and clearly the china miners would not be this dumb to include bitcoin.com if no communication took place. they are billion dollar companies do you think they would send your shipment worth a million dollars to wrong location ? this is just a "hippie" outlook on this.

"we just need donations to become world beaters" "peace and love"

this bullshit is just all an image ver displays but the man is ruthless and knows about money.

Bitcoin cash is the hardest cash the world has ever seen.

if it works to its best it will reach 100k-1million+ a coin. and it will happen. since 2017 this has all been planned. if not earlier.

i first seen bitcoin in 2009-2010. and what put me off was the upgrades. so i waited 10 years and returned to see bch as a great option an it works as mining is still possible on the chain and payment is daily also use is easy but i prefer to just get more bch and wait for the day it will be higher hash rate and price than btc. it will happen even for a day but it will happen.

if a split happens let it happen nothing can change a mind once it has made a decision

see you all in 2021 may for the recap on previous events.

$ 0.00
10 months ago

Nice one

$ 0.00
10 months ago

Forward ever backward never

$ 0.00
10 months ago

Thank you

$ 0.00
10 months ago

Thanks for this information

$ 0.00
10 months ago

Questions:

1) Will the Bitcoin.com wallet follow the IFP or non-IFP chain, in the case of a split?

2) Will the Bitcoin.com register app follow the IFP or non-IFP chain, in the case of a split?

3) Will any of the Bitcoin.com provided services follow the IFP chain at all?

$ 0.20
10 months ago

yo Mr Jarvis when listing real bitcoin BSV on Bitcoin.com? asking for a friend?

$ 0.00
User's avatar TOG
10 months ago

I cant wait to see bitcoin.com on a minority chain. HEX scammers dont belong on BCH.

$ 0.00
10 months ago

Look forward to its upgrade.

$ 0.00
10 months ago

Thanks for the explanation. It's a clear position.

$ 0.00
10 months ago

OHHHHHH BOYYYYY

ROGER GONNA HOOVER DAMN YOUR ASS AMAURY 🍿🍿🌶🌶🌶🍆🍆

Or will Amaury checkpoint Roger??

Stay tuned for the BCH forkage drama 👀👀

$ 0.00
User's avatar TOG
10 months ago

this is really happening?

$ 0.00
10 months ago

Yeah buddy. the Hoover Dam floodgates gonna be wide open

$ 0.00
User's avatar TOG
10 months ago

that is a great news ty 😊😊

$ 0.00
10 months ago

thanks for this info!

$ 0.00
10 months ago

Well said! Proud of this community, you never disappoint, guys. BCH FTW

$ 0.00
10 months ago

Does this mean we lose Amaury?

$ 0.00
10 months ago

That's up to Amaury, but as things stand if ABC has a minority of the hash rate backing them, they will fork away from BCH. Unless ABC change their consensus rules to remove the IFP code, they'll remain forked from BCH indefinitely, and if Amaury stays with ABC at that point and doesn't contribute to other BCH projects, then he will leave BCH.

If ABC has a majority of the hash power behind it in November, it will orphan blocks from miners running all the other nodes unless they take other protective measures. Nobody is going to mine for free for long, so those miners/nodes would have to implement something to affirmatively fork away from ABC, or they will likely end up switching back to ABC or implementing ABC-compatible code in other nodes.

The safest thing for all parties to do if they want to avoid a split or following a minority chain is to run non-ABC nodes. That includes non-mining infrastructure (block explorers, exchanges, payment processors, etc.). Accidentally enforcing the rules of a minority fork could lead to a lot of confusion and disruption.

$ 0.01
10 months ago

Good news❤️

$ 0.00
10 months ago

Very nice and informative article.

$ 0.00
10 months ago

Well done, Bitcoin.com team. Thanks for standing up for what's right!

$ 0.00
10 months ago

Good move. Bitcoin.com consistently like a good actor.

Certainly the IFP feature itself, incomplete as it may be without a corresponding governance model, is an attempt to address this serious need.

Satoshi Nakamoto established the right governance model. Specifically, in the last two lines of the whitepaper. We just have to extend it in the pre-consensus phase. Without noise. Before a split risk happens.

I've created the BMP protocol you need: https://BMP.virtualpol.com

Say hello with your hashpower and let's start a new era.

$ 0.10
10 months ago

The division of Bitcoin Cash can bring a negative movement of the market, let's also analyze the psychological aspect of what produces these conflicts, which by their nature are of power, this can attract a drop in investment.

We need leadership, commitment and union, is it difficult to achieve this? It is less complicated than the language of proclamation, as it seems to be more difficult to be aware than to work with technology

I congratulate the people of Bitcoin.com for leaving a manifesto in an easy to understand language, and also with a passive reading, this is a corporate communication

$ 0.00
10 months ago

I don't understand the upgrade

$ 0.00
10 months ago

Appreciate your effort to avoid a split coming November. My question is , with miners being paid directly on chain, why can't developers be supported directly on chain? It can be an optional feature and up to the developers to decide. See my post for further idea. Doing it right, we will not have a split and still be able to retain and attract more talents for BCH. https://read.cash/@nghiacc/coinbase-reward-split-linux-vs-windows-a76dfde7

$ 0.00
10 months ago

Well done

$ 0.00
10 months ago

Does bitcoin.com know who will be committing resources to ongoing client implementation maintenance if ABC were to close shop? If not, this seems like a careless position.

$ 0.00
10 months ago

Currently, if we ignore ABC, the following projects:

  • BCHD: is already being maintained

  • BCHN: Is already being maintained

  • BU: Is already being maintained

  • Flowee: Is already being maintained

  • Knuth: Is already being maintained

  • Verde: Is already being maintained

Doesn't seem to have this problem. Are you asking who would maintain ABC specifically if ABC were to close shop?

$ 0.11
10 months ago

Aren't these implementations mostly porting ABC upgrades? Which client will be the reference implementation? Can these clients commit engineering resources 24/7 in case of an emergency? I don't buy that we are going to run a Global Currency with free engineering resources... It's okay another crypto will take BCH spot...

$ 0.00
10 months ago

Aren't these implementations mostly porting ABC upgrades?

No.

BCHD is written in Go, Verde is written in Java, Knuth is written in rust(?).

Flowee, BU and BCHN are written in the same language as ABC, so they can in theory port ABC code, and to some degree they do, but they's FAR from all they are doing.

Which client will be the reference implementation?

None.

Can these clients commit engineering resources 24/7 in case of an emergency?

I believe at least BU and BCHN already have this ready, but I don't know what quality the service provided would be. I find it very likely that Verde would be willing and able to offer such services as well. I don't know about the others.

I don't buy that we are going to run a Global Currency with free engineering resources...

That is not what is happening.

$ 0.00
10 months ago

Flowee, BU and BCHN are written in the same language as ABC, so they can in theory port ABC code, and to some degree they do, but they's FAR from all they are doing.

In reality it goes all directions all the time. As the maintainer of Flowee the Hub I have seen code (like the allowed_arg) end up copied in various clients, Double spend proofs go from Flowee to other clients. The current DAA goes from the BCHN client to others, including ABC.

And ABC is naturally importing from Core, which has always been the vast majority of changes happening in ABC.

$ 0.00
10 months ago

Who would be importing from updates from Core on this chain? It may not be the most exciting part of the job but it seems necessary as it stands.

$ 0.00
10 months ago

This is clear enough to be understood, In my own view, If the implementation of the IFP is bending towards another Fork then I guess there should be a change of plan.

If ABC decides to pull out, there would be yet another drastic effect on the BCH market.

$ 0.00
10 months ago

Well done! 👍🍀

$ 0.00
9 months ago

16qwwLpSDngpgkf3cBZbRPW39h9x3dvdMk

$ 0.00
9 months ago

?

$ 0.00
9 months ago