To drift or not to drift: Part 1

Tuesday, July 28th, 2020

One thing I love about Bitcoin Cash is how much it makes me think, and the last several days I've been doing a lot of thinking.

I've read the two DAA proposals put on the table, and as far as I can tell, they are almost the same except one is proposing we fix the drift going all the way back to the genesis block, while the other sees no need to make things more complex than they have to be.

I've also watched both DAA development meetings and read through some of the discussions on Telegram, and I admit I'm still not sure which proposal is superior.

On the one hand, I like the idea of fixing the historic drift going all the way back to genesis. I think that if we could go back and start Bitcoin all over again, I'm guessing we would choose a DAA that kept the coin emission on schedule and didn't cause any drift to begin with. On the other hand, someone might argue what's done is done and fixing the historical drift now adds various complexities that might be both undesirable and unnecessary.

As a user, I doubt I will ever notice that blocks suddenly take a minute longer to confirm on average. And keep in mind this would only be temporary until the drift has been corrected. As for miners, my guess is they'll mine anything so long as it makes them a profit, and I'd argue that nobody can definitively say that fixing for historical drift will make it more or less profitable to mine BCH going forward. Decreasing the inflation could increase the price, or having 11 minute blocks could cause people to sell their coins and lower the price. I don't know what will happen, and I don't believe anyone else knows either.

So while some ask why should we bother fixing the historical drift now, I can't help but ask why not fix it while we have the chance?

I think the proposals are similar enough that what it boils down to for me is which node team do I trust more, and given the fact that Bitcoin ABC is possibly the only reason I'm still a part of this community, I will choose to support the DAA they go with.

While many in the community seem to have a problem with Amaury, I would easily take him over any other developer in all of Bitcoin Cash. Not only because I believe in his ability to code and see through all the noise, but also because of his proven dedication to this project while enduring the difficulty of these past three years. He is for me, without a doubt, the person most qualified to lead the Bitcoin Cash project and there isn't anyone else who is close.

There's a reason Bitcoin ABC was able to create the most successful fork in Bitcoin's history while others failed in their attempts launch a big block version of BTC. Yes he had help, but Amaury has as much right as anyone to call himself the founder of BCH, and he has earned the right to steer this project in the direction he sees fit.

I know some of you are thinking, but Bitcoin Cash is supposed to be decentralized. If that's your main concern, you are looking at things the wrong way. Bitcoin Cash is trying to become censorship resistant digital cash for the world. As long as it achieves that goal, it succeeds whether it's one node team that gets us there, or five. ABC is not Core, and unless Amaury suddenly loses his mind and starts doing things that are detrimental to BCH, I will continue to support his efforts.

For those who have accused me of being part of some ABC PR machine, grow up. I'm just a passionate supporter of Bitcoin Cash who likes to write and express his opinions. I am being as sincere and genuine as I know how. Believe me, it would be easier to say nothing and try not to pick sides, but I'm here for p2p digital cash, not to collect digital friends.

I write these articles because I want Bitcoin ABC to succeed because I equate their success with the success of BCH.

You might think ABC should compromise and appease the rest of the community. I think ABC should do what they feel is best for the BCH project as a whole, whether that's going with the Grasberg DAA or something else. Let's face it, the BCH community is tiny, and as much as we need to grow and not shrink, whether you have 1000 people in a community or 2000 doesn't make much of a difference when you're aiming to on-board 10 billion.

I don't believe in design by committee. I don't believe in compromising just to make others happy. I will continue to choose to make the best possible decisions based on the information available.

To be continued...