THELOGICALINDIAN - BTCTOP says the 125 tax will alone be temporary
On Feb. 1, 2020, Jiang Zhuoer of BTC.TOP, the abettor of a able mining basin in the Bitcoin Cash ecosystem, revised his attitude on the arguable miners’ donation. He had beforehand said that miners would be orphaned from the blockchain if they did not accord 12.5% of their block rewards.
These rewards would go against architecture basement for Bitcoin Cash.
“A Cultural Misunderstanding”
Since his antecedent announcement, Zhuoer has adapted and revised portions of his attitude on the arguable miners’ donation.
This is primarily due to what he has declared as “a cultural misunderstanding.” Despite claims that Zhuoer was not absorbed in discussing his proposal, the mining operator explained that aspects of the plan are uncertain.
BTC.TOP, Zhuoer’s mining pool, is amenable for best of the network’s hashrate. He has accepted to owning 3,500 PetaHash, and “can additionally access about 10,000P hashpower.”
In the last seven days, Zhuoer’s mining basin has captured 28.1% of the network’s block rewards. Other pools, including AntPool, ViaBTC, BTC.com, and Bitcoin.com, accomplish up addition 23.2%. All four pools accurate the antecedent January proposal.
It is cryptic whether these aforementioned mining pools additionally sponsor Zhuoer’s latest recommendation.
Although he still affairs on establishing a foundation, the BCH Miner Fund, he has now proposed that miners accord anon to specific projects in the ecosystem. Meanwhile, the Fund will accomplish as a balloon for an broad period.
The Fund will administer funds based on the wishes of donors in admeasurement to their donations. For miners who are not absorbed in acknowledging any of the BCH projects, nor the Fund, Zhuoer has recommended that miners accelerate their “coinbase to [a] BCH Black Hold abode to abort these coins.”
By antibacterial these coins, all projects captivation BCH would see allowances in the accumulation cut, according to Zhuoer.
He has additionally proposed abbreviation the requisite 12.5% donation to 2 to 3% by the average or end of 2024. He added, “1% will apparently be acceptable in 2024.”
To get his plan approved, he is acquisitive to conduct a 3-month acclamation in which miners use their hashrate to vote for or adjoin the proposal. If passed, he hopes developers will accommodate the donation plan in the accessible May 2024 agreement upgrade.
Despite these clarifications, abounding of the critiques from the BCH association still stand.
Mining Bitcoin Cash at a Loss
To defended abundant votes to advance his plan through, Zhuoer recommends mining at a accident to advance out “anonymous miners who [think] of annihilation but authoritative money will not abundance BCH.” He proposes befitting the BCH mining profits lower than BTC mining profits so that absolute miners will focus their absorption elsewhere.
This aspect, amid others, has been broadly criticized. Within the Bitcoin Cash subreddit, one user accent all of their apropos with Zhuoer’s best contempo commentary.
In commendations to blame out miners by mining at a loss, they wrote:
“He’s adage that he wants mining advantage to be beneath for BCH about to BTC to ensure that his own centralized hashrate wins the affected vote.”
Zhuoer added that he could not argue his company, BTC.TOP, to acquire advised losses, however. To avoid this, he has offered claimed accouterments to authorize addition mining basin alleged D.TOP.
Concluding, abundant of the association charcoal agnostic of the mining accolade proposal.
Although Zhuoer reminded that the accolade arrangement would alone aftermost six months if approved, few are assertive that such a change would anytime be readjusted.
