Bitcoin.com, owned by Roger Ver, withdrew its support for the much-discussed proposal of several large-miningbedrijven. The proposal is that the miners are being forced to be around 12.5% of the Bitcoin’s Cash-blokbeloning to a fund to ‘donate’.
The lack of support
“As it stands now, it will be Bitcoin.com do not continue to support such a plan, unless the agreement is in the system, so that the risk of a split in the chain can be ignored,” wrote Bitcoin.com on their web site.
The decision is likely to be a response to the heavy criticism that the proposal was not so much the idea that developers have to support it. In accordance with the community around the BCH, there are less coercive ways to make money for programmers to get together.
“It is clear that the current proposal did not have enough support, so we are working on a plan that will be profitable for all parties concerned, and that the fundamentals of the economics of Bitcoin, Cash store.”
Roger Ver has yet to publicly respond to it.
If the proposal is accepted, then that is 12.5% of the compulsory portion to ensure that the mining of the BCH is less profitable it is. It could just be that the computing power in the BCH-network, with a 12.5% decrease.
This is a problem because this will have a direct impact on the security of Bitcoin and Cash. A so-called 51% attack is easier to implement. A similar attack took place in may of 2019 at the latest.
In addition, it will be in april of 2020, the bitcoin cash in the block halving, place this in the remuneration of miners, even cut in half. Because BCH uses the same hashing algorithm as bitcoin, SHA-256, you can have miners simply switch over to bitcoin.
A little more options
The developer Jonald Fyookball say that there are not a lot of options anymore:
Seemed like a good idea, and the ideas for the infrastructure through the mining fund have not worked. I’ve had suggestions that include anything from hashrate-votes as to the use of p2pool. There is no respect at all for all the wonderful developers who have ideas, but the reality is that all of these things have to be complicated in order to have a good chance of working in practice, particularly in the short-term.
The head developer, Amaury Séchet, saying that there are developers, it is expected that, in the name of their own self-interest, or have insufficient funding to operate. Séchet:
This proposal is a way to do that is a problem to deal with. There are other ways, but it doesn’t seem that they are getting a grip, so I am hoping that this will be the case.