Recently, the giants in the Bitcoin Cash mining sector put forth a detailed article titled 'Infrastructure Funding Plan for Bitcoin Cash' BCH The release, authored by Jiang Zhuoer, CEO of BTC.TOP, a major player in crypto analytics and mining, unveiled a surprising strategy. The initiative suggests diverting 12.5% of BCH generated rewards into a fund, a move expected to bolster BCH's ecosystem with an infusion of around $6 million managed out of Hong Kong. .”
Initially, industry heavyweights including Roger Ver and blockchain technology specialists like Jihan Wu of Bitmain expressed approval.
Yet, concerns have emerged with critics arguing that this undermines the decentralized ethos fundamental to cryptocurrency.
Bitcoin Cash Advocates Reconsider Mining Policy
Bitcoin.com's team, spearheaded by Roger Ver, clarified their stance, indicating a vote of no confidence for the moment.
\"Bitcoin.com, as it currently stands, chooses not to support any proposal absent broader consensus that ensures chain integrity,\" a spokesperson stated.
In a blog post The company observed that despite endorsements, the plan lacks sufficient backing and is committed to crafting a universally advantageous strategy respecting BCH's economic framework.
Canadian outfit Taal Distributed Information Technologies shared similar skepticism, airing legal apprehensions over the suggested taxation.
The Vancouver-based Taal noted potential legal repercussions across jurisdictions where BCH operates.
Should the scheme activate, Taal plans a strategic pivot to Bitcoin and Bitcoin SV. press release wrote There's apprehension that profitability pressures may drive miners away from BCH to alternative SHA-256 chains.
Optimism Persists for Bitcoin Cash’s Future
While some criticize the funding setback as detrimental, optimists foresee BCH riding to market supremacy. according to Binance Research In an interview with Forbes, Roger Ver suggested BCH's potential to overshadow Bitcoin based on market cap.
With Bitcoin.com aligning more with global commerce pioneers, BCH adoption within real-world transactions is predicted to drive up its market share.
Roger Ver later shared on CNBC that BCH could grow a thousand-fold, eyeing a role as global digital cash.
Detractors, however, highlight an impending block reward reduction that could challenge such rosy forecasts.
As a seasoned crypto writer, my analyses feature in top-tier publications like LongHash, NewsBTC, and Decrypt. In my downtime from writing, you’ll find me at HTC's EXODUS, nurturing blockchain ventures. I hold a modest Bitcoin investment. Contact me at [email protected]
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