Looking at BitcoinABC's new IFP in a different way

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Avatar for Pjman7
Written by
4 years ago

I have spent the better part of the night trying to catch up on all the controversy about the Bitcoin ABC's IFP plan. Trying to understand both sides of the debate. The passion one way or the other truly shows just how much the community cares about the project and their beliefs.

While reading through flipping back and forth something occurs to me or maybe it was what someone said. So now, I have a question for the community. Would it be possible to let ABC have their 8% fee while other node developers give theirs away for free? Without causing a split?

If it is possible why not just do it this way? What would then happen is ABC gets funding it wants without having to rely on donations. You could see it as a charge on miners who make money off mining BCH using BitcoinABC's software. Let the miners choose the software they want. If they don't want to pay 8% of their mining rewards they can go use any other node software.

Could it be a win/win?

  • BitcoinABC would get to be funded in a method it wants

  • BCH would not have to split

  • Miners choose if they want to pay a fee for their node software if not they can move to another implementation

  • Everyone still gets to use all the tools that have been built the last 3 years

  • BitcoinABC wouldn't have an excuse to not hire developers to work on things like avalanche, removing the chain limit

  • If BitcoinABC does't fulfill what it says then they will lose the miners to other node providers and BitcoinABC fades away because they will have no funding support anyone.

  • It incentivizes BitcoinABC to make the best node software possible which benefits everyone

Not possible

If it is not possible then sorry for wasting your time. I know there are ways to not make it possible but let's try to have an open mind and if it is possible maybe we should make it happen.

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Avatar for Pjman7
Written by
4 years ago

Comments

I expect ABC will require all blocks donate the 8% of the reward to BCH development. Letting some not do it makes it unfair to those who do fund development. That's the "free riders" problem we currently have.

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4 years ago

Maybe the developer of the node must tell those miners where the 8% will go. Because as I know that wallet is not controlled or not owned by Sachet.

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4 years ago

why does that matter? In this scenario its assumed its going to BitcoinABC as a way for ABC to get paid for its node software.

If the node operator doesn't want to pay them why can't they just use another node. One that doesn't charge anything to use.

I have realized though the limited discussion so far that this way is only possible as long as all node operators accept all blocks from all nodes. If one decides to only accept either blocks with or without IFP then this whole plan is moot and a fork is inevitable.

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4 years ago