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    Home Unlabelled BTC The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead

    BTC The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead

    January 27, 2020

    BTC The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead

    The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead

    Posted: 26 Jan 2020 12:42 PM PST

    I don’t agree with the statement in the AMA that developers will set the agenda.

    Posted: 26 Jan 2020 05:24 PM PST

    • I don't agree with the statement in the AMA that developers will set the agenda. I had hoped the development agenda would be set by profit-seeking miners who give funds to developers for the specific projects miners have decided are worth investing in. I'm worried this could easily turn into a slush-fund boondoggle for developers, a sort of universal basic income for them that gives them more leeway to turn Bitcoin Cash into science project instead of the tight leash and collar with clear success metrics it should be.
    • I don't agree with the statement in the AMA that most of the funds will be "general donations." I don't think forking over a pot of money and then saying "figure out something useful to do" is a very smart way to get useful things done. This seems to be a recipe for the kind of money grubbing and inefficiencies you see in D.C. non-profits, public works projects, and grad-school programs. Developers have the incentive to try bloat the budget as much as possible to get as much as the common fund as they can. The money should come with very clear goals, timelines and specific financial incentives.

    source

    submitted by /u/MemoryDealers
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    Someone just got paid over $1,000 in Bitcoin Cash for an article they posted on read.cash!!!

    Posted: 26 Jan 2020 01:48 PM PST

    BU's Chief Scientist Blasts BCH Dev Funding Proposal: "Sickening," "Indistinguishable From a Scam"

    Posted: 26 Jan 2020 03:42 PM PST

    How can the BCH developer fund not happen?

    Posted: 27 Jan 2020 12:33 AM PST

    How can the BCH developer fund not happen? The one that claims 12.5% of all mined blocks.

    Jiang Zhuoer, Jihan Wu, Haipo Yang, Roger Ver and Amaury Sechet are all in favour of it.

    I just can't see how this will not happen if all those people are in favour.

    submitted by /u/amlodhix
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    Bitcoin Gold 51% Attacked - Network Loses $70,000 in Double Spends

    Posted: 26 Jan 2020 01:30 PM PST

    I Put my Lawnmower on the BCH Blockchain to teach the concept of tokenization!

    Posted: 26 Jan 2020 03:16 PM PST

    BCH Dev Fund: Why Not Crowdfund?

    Posted: 26 Jan 2020 11:38 AM PST

    Way back in 2014/2015, Mike Hearn came up with an idea to use smart contracts to crowd fund projects. He called this project Lighthouse. It never really took off at the time. I think one of the primary reasons for it laying dormant was that the upcoming scaling debate overshadowed pretty much everything else going on in the space.

    Anyway, fast forward 5 years. Lighthouse is mostly forgotten and we have a new Bitcoin Development Fund proposal. I don't think I need to rehash it in this post, but suffice it to say that it appears to be substantially controversial within the community*. However, it is an attempt to solve a problem--development funding--that I believe to be very real. So, the question I find myself asking is: if not the current dev fund proposal, what should we do? I suggest re-implementing Lighthouse on BCH.

    I believe that Lighthouse can solve the problem of development funding while also eliminating all areas of criticism currently targeted at the BCH Dev Fund proposal. Lighthouse:

    1. Is voluntary
    2. Does not require a fork of any kind
    3. Cannot cause a chain split
    4. Provides much higher levels of transparency than a monolithic entity which centrally determines how gathered funds can/will be spent
    5. Actually uses Bitcoin smart contract features and serves as a real-world example of their power that directly benefits the network
    6. Allows participation from non-miners and may help developers prioritize feature requests and roadmaps
    7. Allows any developer to put forward their own request for funding directly with the community without bureaucracy
    8. Isn't limited to 6 months and doesn't require consensus about sunsetting or continuing funding

    Perhaps the best thing about Lighthouse is that we don't have to build it from scratch. There were already previous attempts to implement it on Bitcoin Cash that can be worked on. Why not give it a shot?

    *In the interest of disclosure here, I am neutral toward the BCH Dev Fund proposal. I am simply trying to look for less contentious solutions to the problem.

    submitted by /u/gotamd
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    This is what we're talking about: 22 items under development, 18 under discussion to get Bitcoin Cash "Done".

    Posted: 26 Jan 2020 04:32 PM PST

    Under Development:

    1. OP_REVERSEBYTES - Bitcoin ABC | Independent
    2. SigChecks - Bitcoin ABC
    3. Increase unconfirmed ancestor limit - Bitcoin Unlimited | Bitcoin ABC
    4. Reusable Payment Addresses - Bitcoin Unlimited | Bitcoin ABC | BCHD | Electron Cash
    5. Double spend proof creation and forwarding - Bitcoin Unlimited | Flowee
    6. CashFusion - Bitcoin ABC | BCHD | Electron Cash
    7. Storm - Bitcoin Unlimited
    8. Modified fee structure - Bitcoin ABC
    9. Graphene v2 - Bitcoin Unlimited
    10. Bitcore API server (proxy) - Flowee
    11. Electrs Electrum Server Integration - Bitcoin Unlimited
    12. CashScript - Bitcoin.com
    13. Spedn - Independent
    14. Xthinner - Independent
    15. OpenCAP alias protocol - Independent
    16. Restore OP Codes - Bitcoin Unlimited | Bitcoin ABC
    17. Allow <100 byte txs except those of 64 bytes - Bitcoin ABC
    18. CashDB - Lokad SAS
    19. Maxblocksize Based on Median Block Size - Bitcoin Unlimited
    20. Bi-directional Overlay Network - BCHD
    21. BUIP087 nomenclature for 1/1,000,000 BCH - Bitcoin Unlimited
    22. UTXO commitments - Bitcoin ABC | bitCrust

    Under Discussion:

    1. Allow fee-free spending of old UTXOs - Bitcoin ABC
    2. Mitra - Independent
    3. Zero-Knowledge Contingent Payments - Bitcoin ABC | BCHD
    4. Avalanche - Bitcoin ABC | BCHD
    5. OP_PUSHSTATE - Independent
    6. Taproot - Bitcoin ABC
    7. Deep Link Payment Protocol - Bitcoin ABC | BCHD
    8. Mandatory CashAddr for P2SH - Electron Cash | Independent
    9. Cash Intents - Independent
    10. Revised DAA (w/ PID control) - Bitcoin ABC
    11. Blocktorrent - Independent
    12. Metadata Subtree - Bitcoin ABC | Lokad SAS
    13. Merklix Trees - Bitcoin ABC | Lokad SAS
    14. Time Delay Penalty Based on Multiple Blocks
    15. Bobtail
    16. One Way Aggregate Signatures - Electron Cash
    17. Improved 0-conf via security deposits - Bitcoin Unlimited
    18. Switch standard denomination to 'bits'

    source: https://cash.coin.dance/development

    submitted by /u/ChaosElephant
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    It's encouraging to see so many talented people working to solve a difficult problem in Bitcoin

    Posted: 26 Jan 2020 09:13 AM PST

    "Oh, look, another troll!"

    Posted: 27 Jan 2020 12:59 AM PST

    I really enjoy the open discussion about the new dev funding proposal (which I personally find, at least in this form, not to be so good of an idea), but it always bugs me how some of you guys preffer to just call anyone you disagree with a troll and immiedietly assume he/she is part of a new "attack of BCH", instead of at least trying to engage in a civilized discussion first.

    Sure, some people you disagree with may post from new accounts and have shitty karma, but they often still have some valid arguments. Calling them "trolls" does not refute them, it just makes it look like they cannot be reasonably countered, that's why you fallback to name-calling, generalizing and trying to divide the community into the "good guys" (those that agree with you) and the trolls/attackers.

    It's funny because sometimes the same people who practice this "troll-labeling" and reject the opportunity to have any open discussion at all, also act as if they value and defend it. That's not how you do it. Trying to silence valid arguments by de-humanizing people who present them and acting as if discussion with them "does not make any sense anyway" (before even trying!) is almost as bad as censorship itself. It's just one little step before you say: "Let's just ban all those people who push this agenda, since they obviously are just trolling and bring nothing of value to this sub". Maybe you'd even do it if you had the power to...

    I think such behavior does not get enough opposition here and too often people try to justify it, sometimes using examples of some actual trolling that happend in the past. Let's stop confusing valid opposition with trolling.

    submitted by /u/Lezek123
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    No wonder Bitcoin Cash is the #1 most used cryptocurrency at Australian retail businesses. Attendees at last weeks BCH City meetup spent over $650 in BCH! That's more than BTC or LN managed to accrue in the entire month of December.

    Posted: 26 Jan 2020 07:21 AM PST

    �� Bitcoin Cash Developer Fund – Good or Bad Idea? Is it a Tax? 6 Months or Forever? Will it Lower Network Security? Why "12.5%"? Will Hashrate Drop? A Good or Bad Idea?

    Posted: 26 Jan 2020 05:04 PM PST

    Assessment and proposal re: the Bitcoin Cash infrastructure funding situation

    Posted: 26 Jan 2020 10:04 AM PST

    Bitcoin Cash Development Script Meeting #2 video now available

    Posted: 26 Jan 2020 11:33 AM PST

    They say the miners' tax will be given to the "good guys."

    Posted: 26 Jan 2020 10:48 AM PST

    Once upon a time people gave a lot of money to a "good guy," for software development. He was going to build the best internet forum ever; that would be the home of all bitcoin discussion.

    Anyone remember how that ended?

    submitted by /u/cipher_gnome
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    Which designs do you like for Bitcoin.com's new T-shirts?

    Posted: 26 Jan 2020 11:31 PM PST

    Which designs do you like for Bitcoin.com's new T-shirts?

    Bitcoin.com is making new Bitcoin Cash T-shirts. Please let us know what you think about these designs!

    https://preview.redd.it/o8ce263rx9d41.jpg?width=1798&format=pjpg&auto=webp&s=3cd626e47de1e6b5de49042e725586fdd0059e96

    submitted by /u/akaneyokoo
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    Miners: if you want to avoid a Blockstream 2.0 takeover, just stay vigilant and be flexible. No need for coercive measures.

    Posted: 26 Jan 2020 08:14 AM PST

    Do you really think a 6M dev fund can save us from companies that get hundreds of millions by money printing banks? No! The only way to avoid a takeover is to fix what went wrong in the past. If a dev team goes rogue, then miners need to be ready to switch to another implementation. There are at least 8 node implementations in BCH. Just switch and donate to the new team. That is all it takes to stay on track to become p2p cash for the whole world. Thank you.

    submitted by /u/jungans
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    CashFusion best practices?

    Posted: 26 Jan 2020 12:39 PM PST

    I want to try CashFusion in the latest beta of ElectronCash, but what else should I do/enable?

    I am thinking I should turn OFF CAshSHuffle since they kind of compete, right?

    Should I make any changes to the default settings, like coin size or queued fusions?

    Thanks, this looks exciting! ;)

    submitted by /u/megability
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    Shower thought: The Bitcoin experiment will only truly succeed when miners pay for electricity with bitcoin.

    Posted: 26 Jan 2020 04:03 PM PST

    Yes, I mean bitcoin as in BCH... this thought was inspired by the dev funding discussion currently raging...

    submitted by /u/zeptochain
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    From a BCH security perspective, users are far more important than hashpower. If BCH is still only doing 0.3 TPS ten years from now, BCH will be worth a very tiny fraction of today's $330 price. The Dev Fund has many obvious concerns, but so does doing nothing.

    Posted: 26 Jan 2020 09:00 AM PST

    Advantages of Dev Fund

    1. The opportunity cost of redirecting hashpower to the Dev Fund is essentially zero.
    2. If the Dev Fund results in onboarding a significant number of users, then it is worth it (easier said than done).

    Disadvantages of Dev Fund

    1. We can say with virtual certainty investing money into full node implementations will attract exactly zero additional users. The BCH bottleneck is obviously use cases, not node infrastructure.
    2. If BCH really maxes out its current node infrastructure due to on-chain activity, this implies the price will have also increased 10X - 50X, making infrastructure funding a trivial matter.
    3. The Dev Fund may lead to another contentious hard fork/split in the community.
    4. Making this drastic of a change over $6 million seems like a high-risk, low-reward situation. All four of the plan's signers and BCH marketcap have a good chance of losing significantly more than $6 million if the Dev Fund is implemented.
    5. If BCH was really $6 million away from a breakthrough, all of these guys would have self-funded it already. The fact that they haven't shows they don't believe this $6 million is going to make much of a difference and they don't know which projects are worthy of investment.
    6. Funds like this usually end in waste or corruption.

    Neutral Points on Dev Fund

    1. A chain with near empty blocks is essentially useless, and is not/cannot be decentralized.
    2. If an entity has the power to implement a Dev Fund, whether they choose to or not, does not change the underlying decentralization of Bitcoin Cash. You are just choosing to ignore the centralization that already exists.
    3. Doing nothing can and probably will lead to failure. The current trajectory of BCH does not look great. BCH is in need of a significant paradigm shift.
    submitted by /u/guyfawkesfp
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    Bitcoin Cash Leads All Top Ten Coins by Market Cap in 24-Hour Trading After Major Announcements

    Posted: 26 Jan 2020 12:21 PM PST

    It is easier to start accepting BCH than any other crypto thanks to the Bitcoin Cash Register App

    Posted: 26 Jan 2020 08:54 AM PST

    Anyone interested in Bitcoin Cash belt buckles? This is my master, gonna make molds for metalcasting

    Posted: 26 Jan 2020 10:26 AM PST

    "We are about to fundamentally change the core principles and incentive structure of bitcoin because it is not evolving at a pace to our liking. "

    Posted: 26 Jan 2020 06:07 AM PST
    Read more
    at

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