🔵 Bitcoin Cash Developer Fund – A 12.5% Tax? 6 Months or Forever? Will it Lower Network Security?

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4 years ago

Topics & Timestamps:

00:51- Good or bad idea?

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

02:00- What’s happening??? Starting with Amaury Sechet’s article (deadalnix)

08:38- Sockpuppet throwaway accounts to sway opinion? It should be token holders who have a say.

10:20- Does it matter who proposed this? (Jiang Zuoher vs Amaury Sechet) The idea should stand on its own.

11:52- A tax or not a tax?

13:20- Acknowledgement to Roger Ver for maintaining uncensored discussion platform (compared to Bitcoin split into Bitcoin Cash which involved censorship)

14:30- Why "12.5%"? Should there be a hard fork? Comparison to scaling debate of 1MB and larger blocks.

17:36- Six month plan. Is this realistic? 6 months or will it be forever?

20:15- Who should control the funds?

25:18- Will hashrate drop due to the 12.5% reduction in block reward?

Softfork or Hardfork?

Voluntary or forceful?

â—Ź 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

â—Ź Article from Jiang Zhuoer (BTC.TOP)
“Infrastructure Funding Plan for Bitcoin Cash”
https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e

â—Ź 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

â—Ź 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 ZeusOnPills - “Hard fork it”
https://read.cash/@ZeusOnPills/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/

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Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

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

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Comments

u sir are "PURE AWESOME" .. if i didn't despise youtube, i'd subscribe .. ru on any other vid platforms?

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User's avatar nyusternie
4 years ago

I just signed up because of your video

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User's avatar samstickkz
4 years ago

We have months to figure out how to avoid the pitfalls. Social media is infested with dishonest social engineering agents pretending the majority is opposed to this attempt by miners to donate to developers. I will repeat that. Miners are attempting to donate to developers. The professional disinformation agents are making this into a gloom and doom situation because they work for dark money opposed to peer-to-peer electronic cash for the world's people.

If there is corruption or theft of the funds it does not hurt BCH. This is a donation we are talking about. Not BCH governance. 6Mil is not enough to support BCH development in the long run. We will still need other funding methods and happily welcome all the other alternative suggestions.

This is unfair to the anti-BCH miners mining BTC because they end up paying about 0.44% of their potential mining income to BCH developers. Since BTC was captured and corrupted already, miners mining it are supporting that fake Bitcoin being used to fool the public. So, them paying 97% of the costs for BCH development is icing on the cake. And that is another big reason they are going insane on social media over this plan and making all kinds of dishonest claims.

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User's avatar Big-Bubbler
4 years ago

It's ok to support the proposal once it is nailed down, but why such strong support with all of the loose ends still unresolved? It's rash.

Almost all of us (myself included) want Bitcoin Cash developers to be well funded for the amazing work they provide. But I think it is a mistake to support the proposal in its premature and undeveloped state. The details need to be 100% nailed down BEFORE the community should launch support for such a huge change.

Simply "wanting to fund devs" isn't good enough to enact this idea.

FIX the pitfalls first, THEN put it in place. Otherwise don't put in place. It's currently a premature proposal.

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User's avatar ColinTalksCrypto
4 years ago

Fair point. That said, we are dealing with a massive social engineering attack that is attempting to use this issue to divide the community and create a new fork that takes part of the community again. It would be very harmful to BCH and that is what the usual anti-BCH forces and now the anti-BCH-Mining forces are hoping for. They are fanning the flames of disagreement and fear over issues that do not actually exist yet and many that are not even a slight possibility.

You are right that there is a lot of uncertainty. They are using that to assume the worst and then agree with each other over and over as an attempt to kill the donations because they do not want BCH developers to get more funding. I have been trying to keep up with all the dishonesty and toxicity but it is a challenge. On top of the attacks, real members of the community have real concerns to consider. Miners being forced to forgo 0.44% of income is a big legitimate issue to many. Also, all the projects that are concerned they will not get their fair share are rabble rousing a bit. It is an exciting time to be in crypto as usual, lol.

Your 70% opposed position was not real helpful, but, I do not want you to change it based on my whining and complaining, lol. take your time and do what you think is right.

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User's avatar Big-Bubbler
4 years ago

My gratitude goes to Mr Satoshi for bringing bit coin to existence. It really good and it is a good platform to be.

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User's avatar Samloko
3 years ago
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