@MarcDeMesel
edited
Bitcoin Cash Back On Track
Roger Ver cancelled his support for plan to start using piece of block rewards / inflation to fund Bitcoin Cash developers. Great news which means it likely won't happen but still some serious damage done by many for even supporting this idea in first place and trying to push it through. Of the top of my head, Jihan Wu, Amaury Sechet, Vin Armani, Hayden Otto, Chris Pacia and many other BCH leaders supported it, while many others were silent when they needed to speak out. Immediately this lowered the moral high ground Bitcoin Cash had in the cryptocurrency community and will be used against us for years to come. It also damaged my trust I had in these leaders, who I thought to have strong principles and sharp business acumen. I think therefore risk/reward has gone down for BCH, vs for example Ethereum, and a lower allocation is still justified. Other factors also play, such as high odds Bitcoin Core still to test bottom around 4k, which will likely make BCH go down more as ETH. Shifted my exposure from 30% BCH / 20% ETH to 20% BCH / 30% ETH, but plan to go to majority BCH again if we would correct and test the bottom as I feel BCH community was actually strengthened by this conflict, realizing more what we are, how we operate, and what needs be done to see our voluntary donation business model work better. Talking in video below about this as well as importance of POS vs POW, to get high security at low cost, as well as put the power to make big changes to the system where it belongs: with the coinholders. Also discuss crowdfunding platform Lighthouse, developed by Mike Hearn and Olivier Janssens at end video that was originally invented to solve funding problem in Bitcoin Core and I believe would be great solution for Bitcoin Cash, picking up where Bitcoin Core went wrong. Would be very happy to help finance it. Enjoy: https://www.youtube.com/watch?v=s5x_IeBSYiI Links: imaginary_username: https://twitter.com/im_uname https://read.cash/@im_uname Steve Patterson: https://twitter.com/steveinpursuit https://read.cash/@Steve-Patterson Lighthouse platform by Mike Hearn: https://www.reddit.com/r/btc/comments/eubjqb/bch_dev_fund_why_not_crowdfund/
49 comments
It is really very good news, it is of wise people to know how to rectify, and as you say this experience will make the community strong, and although for a while this was separating us, I feel that this will be another impulse to continue growing as a community and driving more and more the BCH project, excellent work, I am a faithful follower from Venezuela.
That is indeed a good news Marc. Nice video down there.
Do you think the measure will end up applying? If not, what do you think bch's near future will be? I think bch has a great future, but because of all this scandal generated, I think if it's true that he's lost a little of confidence, it's all very confusing. Very good post Marc, I subscribe to your channel.
I share your positivity to an extent, however > BCH community was actually strengthened by this conflict I don't think it's over yet by any means. ABC funding is still unclear and tbh I'm not even sure it's desirable any more (see my comment why: https://read.cash/@jasonbcox/a-measuring-stick-of-success-5587eeaf#comment-556440b0). There always *are* other options, however painful at first, they might turn out to be better. We can come out of this thing *very* strong, I think, but it's dangerous and we have to go through a lot more drama, imo. There's still a real risk we completely blow it, too. Interesting times!
thanks for the $100 molecular :)
well, thanks for the 500 I received from you earlier :-)
welcome too :)
which you sent right back, it seems ;-). Ok, I'm just going to spread it in other directions and not back to you. This brings up a thought: could we boost 2 of our articles to $10k each by sending the same $100 back and forth 100 times?
Glad to see I'm not alone. [As I said to Marc...](https://twitter.com/btcfork/status/1222424039702089729) After I read the Bitcoin.com Update , I had the same reaction as in the video. Back on track! Good news! But wait. Then I read [what the CTO of Bitcoin.com wrote on the topic *after* the company announcement](https://read.cash/@EmilOldenburg/necessities-for-funding-plan-to-work-316b229b). And I came to the same conclusion as you - this is far from over. [I had a conversation with Emil](https://read.cash/@EmilOldenburg/necessities-for-funding-plan-to-work-202a6256#comment-dddf65b5) to confirm what's still on the table, and I listened to what the other supporters of the proposal had been saying in the meantime. Fasten the seatbelts. I'm currently trying to persuade Roger to re-open the coin signing part of his site (formerly called Bitcoinocracy, then absorbed as vote.bitcoin.com or voting.bitcoin.com (I think both of these subdomains may have been in use for that purpose at some stage). The latter now redirects to a "Temporarily offline" page. If we can't persuade them, the code is open (https://github.com/arsenische/bitcoinocracy/) but is somewhat grotty. As they ran this tool during 2018 still (there are plenty Internet archive snapshots), I have a suspicion that with the previous Github link I may not be looking at the latest code, but maybe it is. Such web-facing code isn't my area of development, so I'd need help from people in that domain to bring it to life on a separate site, if bitcoin.com doesn't see a point in bringing it back. And I'm asking myself whether there is enough point to bring it back. I will try to get a feel for the demand. But my feeling is that the tool is useful for coin holders to express themselves exactly in such a conflict as we have entered now.
> Glad to see I'm not alone. As I said to Marc... One thing is that the proposal is not cancelled (they're apparently trying to adjust it, but what I read from Emil they're not adressing the major concern of alteration of the reward scheme (what Marc De Mesel calls "finance through inflation", which makes it still unacceptable to me). The other thing is that I don't believe it's over *even if* that proposal is cancelled. ABC is still underfunded and apparently they think 6 million USD for 6 months is not even enough (see Jason Cox' article: https://read.cash/@jasonbcox/a-measuring-stick-of-success-5587eeaf). This seems way over the top to me (I'm a software developer myself and I know about the maintenance cost issue). So who/how to fund ABC? I don't see myself paying these guys inflated salaries or rallying the community to come up with the money. I mean they're top-notch devs with a load of domain knowledge but what they seem to have in mind is just unrealistic as I see it now. Now Bitcoin Verde is apparently getting ready to become a mining node (applause!) and we also theoretically have BCHD and BU as realistic options. So actually "firing the lead dev team" might be on the table if that teams funding needs can't be met. THAT discussion is what I mean by "we might have to go through a lot more drama". The whole "Sechet-issue" could blow up in our faces. But imagine we successfully do that (disassemble ABC devs and get miners to switch to another main implementation, hopefully carrying over some of the great devs from ABC)... which is one of the reasons we *have* multiple implementation in the first place, right? It would show this approach actually has merit and the community actually *has* the power to stand up against a lead dev team acting up (if they *do* act up, that's what I'm trying to find out). That's what I mean by "We can come out of this thing very strong".
I too am glad this decision was made by Bitcoin.com and I am a little mystified by the support seemingly blindly given by some prominent opinion leaders. I think as a community we will recover from this. We have learned quite a bit, and are wiser for it. I don’t feel Bitcoin will re-test $4k. I believe we’ve seen the bottom and it’s all upside from the last market low. I made a video on this ( https://youtu.be/Nivb7wPOmE4 ) Exciting times ahead!
Look out Marc I hope your not on the receiving end of a smear campaign like what happened to Steve Patterson.
I'm not worried, I've been ignored by the inner circle of Bitcoin Cash for years, can only go up from here
You raise a very good point. I did not like at all how the community lashed out against patterson. I have to say, that I do not support his opinions and did lose interest in his work and contributions over time. That did not justify the hatred brought towards him. In my opinion though, the very same people who were easily brought into lashing out against patterson are now part of the same group lashing out against IFP and ABC. In both cases these people think they do the right thing, and in both cases they were just justifying themselves to mob up on someone "for a good cause". I'm happy to say, that I am one of the few, who did not hate on Patterson, even though finding him very disagreeable; while I pretty much disagree with the half-truths and alternate reality DeMesel is proving me to be in, with articles and comments like this. Marc, you are not Batman. You are just a bit more than fake news and conspiracy-porn and I understand, that you think you are doing the right thing, that's why I maintained a certain tolerance or respectfulness towards you, while 100% disagreeing with you and your actions. Even after your last trolling/baiting attempt, that showed me how baseless your stance actually is. Seeing infrastructure funded, even while it being any node but ABC may have some good aspects to it. But I don't see it as a win for either flipstarter nor for BCH, nor for the inner or outer community as a whole. People who were afraid of the IFP being "gamed", while it is based on Nakamoto Consensus are now happier than ever to have been "gamed" by an overly dramatic and biased investor. I can fully understand why "the inner circles" simply went on to ignore you. Even if it was a mistake in the long run.
Wow, good news
Marc thank you very much for the donation in my last post, I find myself saving money to finally be able to start studying at the university, and well in a nutshell I wanted to say thank you for contributing with my future! God bless you.
Hi, I translated your article for Spanish Community https://read.cash/@CryptoSpanish/bitcoin-cash-vuelve-a-la-ruta-by-marcdemesel-9ba0b066 Your contributions demonstrate a different critical maturity among the thousands of opinions that contribute to the growth of BitcoinCash, proving once again that the theory of - not debate - is a mistake. We need more participants open to discussion and not dictators to be leaders of the BCH.
I have been reading all this controversal proposal and withdraws from Roger Ver Firm bitcoin.com, but my main question remains... "what are the benefits to have that proposal running and how all the BCH community will benefit from it?!
Hey @MarcDeMesel , very good job you do, in case all these problems lead us to a fork, what would be your position in this case? I wrote my position in this post, if you want to read it would be super good, happy night and a great greeting from Argentina. https://read.cash/@Bitcoincashtrue/would-you-support-a-new-fork-this-is-my-answer-cb2db870#comment-23150937
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I love to know about cryptocurenccy! In this platform I have got BCH. Knowing about progress of BCH was so helpful for me.Thank you for such informative post.
I loved the video! Your youtube link please? Article was very nice and clean.keep updating us.
When read cash make an article about the donor you gave. I stalk you and read your article, and I'm amazed and inspired by your article. Thank you that I'm here and I met you by reading your article. Kudos to you sit. I hope that you support my article sir.
I'm still new to cryptos, especially about BCH. It is sad to hear that when you want to hear a good opinion or point from the leader whom you really like, it turns on the other way around. Would want to watch your videos, but mobile data sucks, it keeps on loading for how many minutes.
I'm a fan of BCH now, because of my experience I use it.
But now situation is not friendly..
I hope that binary options would not be a scam because I just lost some big amount of money the last time I believed in it. Now, I am afraid to invest because of what happened. I hope you can recommend better options for me. Thank you so much sir!
Scam is everywhere so we must have to be careful. Relevant article by the way. Actually, i just wanted you to notice me too. Thank you very much in advanced.
I always love reading your articles. In a way, you make me a fun of Bitcoin cash. Thanks
I believe in Bitcoin cash..I could really use a sponsor 😪😪
I believe that there would be changes in the future for BCH and othere cryptocurrencies. Let's wait for it.
Definitely, everything in this world is not permanent. Bitcoin Cash is no exception of that, but with that new progress hopefully BCH will continue to soar high.
Yes you right.It will be very helpful.
Hello sir please help me My account. 23 gone Why?
Sir please can I translate this article for you to Bengali?
"Your neglect by the inner circle of BCH has caused a lot of damage to the project- BCH. Your single contributions to promoting BCH so far outweigh what they thought as contributions in their own terms. Better, I think BCH will find its feet on ground again if Amaury Sechet and his team fork off soonest".
https://read.cash/@BenKenobi/ethereum-gas-my-tanker-will-crack-3cf91006
Bitcoin and cryptocurrency I don't know much about these things .but I try to know and I read and try to understand all your articles and follow your youtube channels. all the time and learn a lot from your articles and videos from youtube channel. thanks sir Stay by our side and help us move forward. @MarcDeMesel.💞
Come to me and see if you like something, feel free to donate, let me get up a bit: D
Sir, I know this is a very previous post. But I am commenting now. Because I made an account with my two weeks ago. This is a very important article. Can i translate it my won language.Hope you see it and give me permission.please sir please.
Nice informations... Thank you.
A friend @telesfor aired his view on my last article today that the reason why BTC is what it is today is because of the Big men controlling it maybe to some ways you can't completely tag as "right". Judging with I can acutally deduce from your article, does that mean that such fate might meet BCH too if the right thing is not done by the said controllers?
No one controls Bitcoin Cash. The fork in the road on 15 November proved that this is not possible. The ABC team that programmed the Minig software for Bitcoin Cash wanted to introduce an 8% tax, but almost the entire Bitcoin Cash ecosystem was against it. ABC Team could not enforce the tax in Bitcoin Cash and had to create their own coin BCHA. This is the new Tax coin. This is proof that nobody cannot control BCH
Wow!! That's interesting and calming to hear. Some minutes after reading this article, I was in deep thought on what if BCH later ends that way. But judging with what you said using the previous fork as a sample case, I think it's safe to believe the BCH community will actually do the right thing and go against anything not favorable to the community. That's for your reply
VERY GREAT THANKS
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Am happy reading your article, I learn something from it sir, nice one💕💯
Since the introduction of BCH, I have never transacted with. Yes, maybe because I've been skeptical about it. Thanks for educating me on this subject.