What The Bitcoin Cash Tax Is Really About

20 629
Avatar for Julius
Written by
  2
2 months ago
  1. Lazy and entitled developers who are not providing value in the free market are running low on cash.

  2. They beg for people to give them money, and say it is for "necessary improvements" to an already functioning cryptocurrency.

  3. Heroes like Roger Ver give them generous amounts of money but their greed is never satisfied.

  4. They are too lazy to get a job. They instead decide to FORCE the mining reward to fund their inferior project and prodigal lifestyles.

Bitcoin ABC, you guys can't even remove the 25 chained transaction limit and you think you deserve MORE of our money? That is a change that takes 1 minute of coding! The superior Bitcoin Unlimited already removed it months ago!

Bitcoin ABC should die off if they can't get funding. Because their product is inferior to other implementations.

This is called natural selection, an awesome feature of free markets.

BOTTOM LINE: If people won't voluntarily fund your development project, then the free market has decided that your project should die!

"But.....but.... the free rider problem means that people are too greedy to give us their hard earned money!"

No. The free rider problem is a fear-mongering tactic invented by people who are subsisting on government welfare and are not valuable in the free market, so they have to justify getting their money through violence.

We will only fund your project if it provides us value. You are vainglorious to believe that you can spend the miner's money more effectively than they can.

The Bitcoin Cash tax is welfare for entitled developers.

Please share my article: Taxes Are The Next Attack On Bitcoin Cash

Dear Greedy Developers: Sell your skills in the free market instead of siphoning cash from the hard working miners who actually keep the network running!

Entitled developers - get a job!

$ 202.78
$ 200.00 from @MarcDeMesel
$ 1.00 from @Read.Cash
$ 1.00 from @marley2020
+ 2
Avatar for Julius
Written by
  2
2 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I think you have very little understanding what development is all about. Calling devs that mostly work for free or little pay, entitled and lazy is beyond toxic. If you called any shots (luckily you don't) as a dev I would immidiately walk away with a not-so-subtle middlefinger raised.
Try and see if you can find any talent with that kind of attitude.

$ 0.00
2 months ago

I am not trying to offend specific developers - I'm refuting the entitlement philosophy of "we aren't getting enough money." Who decides what is "enough" money? That should be up to the free market. Instead, a centrally planned "12.5%" was chosen. That is millions of dollars per year, which would be worth more as the price of Bitcoin Cash increases.

If you feel so bad for them, try to raise money for them through donations. But once the devs take profits from the miners, they have overstepped their bounds.

You are making the same leftist "wage slavery" argument as Bernie Sanders supporters. "Think of the poor developers, working for free or very little. Such victims! We should raise their minimum wage so they are not suffering!"

Wage slavery is an oxymoron because employees CHOOSE to work. These developers can turn their computer off at any time and get a different job if they feel underpaid. Bitcoin Cash will remain standing because the free market will always fund developers enough to keep the network running.

$ 0.00
2 months ago

Calling devs that mostly work for free or little pay, entitled and lazy is beyond toxic.

oh, you must have misread. This post is clearly targeting ABC devs. The devs that have been getting a very good income for years now. The 800 BCH dev-fund we finished just a couple of months ago would keep a moderate dev paid for years.

$ 0.00
2 months ago

Who in their right mind would tip this garbage? lol

$ 0.70
2 months ago

Someone intent on fomenting infighting in the community of people pushing peer-to-peer electronic cash. Infightening slows the goal. Hence, it is beneficial to those who currently stand to lose from a much more lower friction financial system. $200 in tips is a pittance to prevent the threat from causing damage to the legacy system.

$ 0.00
1 month ago

People who understand what's at stake. This is a globalist takeover: Blockstream 2.0. I'm not saying all the developers are bad guys - but this tax would pave the road to hell with good intentions.

$ 5.00
2 months ago

He tipped himself probably.

$ 0.00
2 months ago

How much have you coded? Could you live off of rare small donations for an occupation that usually pays five to ten times minimum wage? Honestly i think you need to sit the hell down and learn some stuff about how the world actually works.

$ 0.00
2 months ago

The developers get a lot more funding than just a few small donations. They have received millions in recent years.

Why do they need 18 million dollars a year in taxes? Just hire developers who will work for cheaper. That amount would go up significantly as the price increases.

Under this tax, the Devs get a payment every 10 minutes, regardless of whether they are providing value or not. This makes them welfare subsidized, which will undoubtedly cause a drop in their productivity.

The money will be mismanaged by a centralized group of oligarchs. Also, the tax sets a precedent that it is OK to take from the miners.

$ 5.50
2 months ago

You have a vivid imagination - fortunately non of it is true. Nobody ever talking $18,000,000 pr year for a team.

$ 0.00
2 months ago

12.5% x 12.5 block reward x 657,000 blocks/year x BCH Price of $380 =

$40,078,125,000 per year!

That price doesn't take into account the halvening, but the price of BCH will surely increase even more over time.

$ 0.00
2 months ago

Nobody has received millions outside of BU and nobody is asking for 18 million per year.

Just hire developers who will work for cheaper

You have an ancap flag but seem to know nothing about supply and demand. Why would someone work for pennies on BCH when they can get $250k working for a tech company? It's called opportunity costs. Most developers on BCH are already taking like a 50% pay cut versus what they could be making to contribute to making p2p cash happen.

$ 0.00
User's avatar cpacia
This user is who they claim to be.
We have manually verified this user via some other channel.
Proof
2 months ago

Nobody has received millions outside of BU

You lie. You get directly paid from exactly that funding money you just claimed does not exist.

https://www.ccn.com/decentralized-marketplace-openbazaar-secures-5-million-series-financing-round/

Let me guess, its running out and you have not provided enough value to get a new round of money. So you stand behind the dev-tax in hopes to get some socialism to fill your belly.

$ 10.00
2 months ago

OpenBazaar is not Bitcoin Cash. None of the money for OpenBazaar has ever gone to support Bitcoin Cash development. The only development I've done for BCH is donating my nights and weekends for free.

$ 0.00
User's avatar cpacia
This user is who they claim to be.
We have manually verified this user via some other channel.
Proof
2 months ago

Roger has donated over 1 million to ABC, which is only a few years old. How can they squander it so fast? I could live off of 1 million dollars for 50 years with a frugal lifestyle.

Why do they need 10 million+ dollars a year now with the tax after surviving off of much less for so long? That 10 million would be much better spent in free market, or by Roger's company.

You're making the utilitarian argument that if we give people more freedom, then the current system will not sustain itself.

"Who will pick the cotton if we free the slaves? Who will build the roads without taxes?"

True, there may be less money available for developers without the tax. But that's the price of freedom. There may end up being MORE funding WITHOUT the tax because people mentally do not abrogate the responsibility of paying devs.

Subsidizing developers with a tithe is market manipulation. If the tech company pays more, that's the price of freedom. If people want better developers, they should try to raise money and direct it most efficiently towards the best projects.

$51,328,125 BCH every year dropped into a centralized developer oligarchy is the worst way to fund the ecosystem. And they get that money every block, regardless of how efficient they are.

Like all welfare subsidized people, they will quickly lose productivity, knowing that the money will keep flowing in even if they write no code at all.

$ 0.00
2 months ago

Some more food for thought:

Why does the developer team need $18,000,000 a year?

I am sure you can find developers who will work for much cheaper.

Also, that amount will increase significantly over time.

$ 0.00
2 months ago

None of the people behind the proposal are talking about $18,000,000 pr year for a team. Stop making things up.

$ 0.00
2 months ago

12.5% x 12.5 block reward x 657,000 blocks/year x BCH Price of $380 =

$40,078,125,000 per year!

That price doesn't take into account the halvening, but the price of BCH will surely increase even more over time.

$ 0.05
2 months ago

Thank you so much @MarcDeMesel for the generous donation!

$ 0.00
2 months ago

the pleasure is mine, thank you for a great article

$ 1.00
2 months ago
About us Rules What is Bitcoin Cash? Roadmap Affiliate program Get sponsored Self-host
hello@read.cash (PGP key) Reddit