BTC The IFP isn’t a miner tax, it’s THEFT. Full stop. It’s an $8.5 million USD theft PER YEAR — and that’s at today’s low prices. The BCH ecosystem MUST leave Amaury and ABC behind. |
- The IFP isn’t a miner tax, it’s THEFT. Full stop. It’s an $8.5 million USD theft PER YEAR — and that’s at today’s low prices. The BCH ecosystem MUST leave Amaury and ABC behind.
- “Up to now, the only thing that decides who gets the reward from a block is cold hard math. IFP introduces politics no matter how you slice it.”
- So how did the $1.8 million get spent
- Cryptophyl: "We support an open, inclusive and professional development environment in Bitcoin Cash. Today's announcement by Bitcoin ABC was not a proposal, it was an announcement. Their actions are not representative core values we and others expect and uphold within Bitcoin Cash."
- "Bitcoin Cash welcomes everyone who wants to build censorship-resistant peer-to-peer electronic cash that scales to serve billions of daily active users, including people who make less than $2 a day." -George Donnelly
- Amaury Sechet and Bitcoin ABC are an attack on Bitcoin Cash. Prevent a fork now by uninstalling Bitcoin ABC immediately and demanding that your preferred exchange not support a coin split.
- The BCH ticker matters, let's not lose it.
- Warning: Mainnet will support BCHN-side only. If you disagree, please act now, you still have time to cancel your pledge.
- I have something to say to Amaury: “You’re fired. This announcement is not an invitation for debate. The decision has been made and will be activated at the November upgrade.”
- On IFP 2.0: I don't want to say I told you so .. but. I predicted this a month ago. To a tee. ;)
- Bye, ABC.
- Haipo Yang on Bitcoin ABC Foundation IFP
- Since Bitcoin's inception, supporters have always understood that it may come under attack by the most powerful (and resourceful) entities in the world. Each new attack just means one thing... We're still going in the right direction.
- Vitalik on Twitter: Reciting tired old propaganda is becoming less and less effective every day. Ethereum is rising, proof of stake and sharding are rising, and rollups are here, all through a large distributed ecosystem working in parallel. The tides of history will not be favorable to maximalism.
- Bitcoin ABC's 8% Miner Tax will go only to Amaury. This cannot stand.
- Haipo Yang openly musing about confiscating unused UTXOs
- Amaury's endgame: run his own coin and do whatever he wants. BCH says 'au revoir' and wishes you well
- Is deadalnix testing true Nakamoto consensus?
- This November...
- ABC announces only two major changes in November. The first is that they're using backported code from BCHN. The second is that they're demanding 8% of miner revenue. It doesn't seem like they have a strong argument for 8% of revenue when they're just backporting from BCHN.
- ABC: In November, two improvements will be made to our node software. These include implementing the aserti3-2d (ASERT) algorithm and a new Coinbase Rule that will fund Bitcoin Cash infrastructure.
- This is what decentralized development looks like: Bitcoin Cash (BCH) (No-IFP) 2021 Upgrade Plan Already Being Discussed
- What is BCHN’s roadmap, is it the same as bitcoincash.org?
- Whew, that went quick.
- $5.6 Million Double Spent: ETC Team Finally Acknowledges the 51% Attack on Network
| Posted: 06 Aug 2020 11:45 PM PDT Has Amaury ever worked in the free market as a freelance software developer? Apparently not. If he needs money, he should do what all freelance software developers do: Give an estimate on what the next project will cost, and if the customer agrees, they will pay the cost for developing the next project. If the developer does a good job, the customer will be even more inclined to pay for the next project. Everything is done on a project-by-project basis, and everything is done at a competitive price. [link] [comments]  | ||
| Posted: 06 Aug 2020 11:34 PM PDT
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| So how did the $1.8 million get spent Posted: 06 Aug 2020 10:18 PM PDT
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| Posted: 06 Aug 2020 11:38 AM PDT
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| Posted: 06 Aug 2020 01:43 PM PDT
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| Posted: 06 Aug 2020 01:45 PM PDT I do not want another coin split but Sechet seems determined to provoke one. The only way to remediate this is to eliminate the use of his software throughout the ecosystem, effective immediately. If you're running a Bitcoin ABC node I encourage you to immediately uninstall it and switch to any other implementation, ie. BCHN. Also, please contact your favorite exchange and request they uninstall Bitcoin ABC. #CancelABC [link] [comments]  | ||
| The BCH ticker matters, let's not lose it. Posted: 07 Aug 2020 12:34 AM PDT The odds of a chain split in November are looking much higher than most of us would like. Amaury has declared that November will see the IFP brought into ABC, whether others are on board or not. But as you may have noticed, the price of BCH is up a little today, in sync with plenty of other coins. The news of a possible impending chain split has had no noticeable impact on the BCH price. What does that tell us? It tells us that most people buying and selling BCH pay no attention to the community and development landscape at all. Even if they did, the technical discussion would go completely over most people's heads. What does this mean in the event of a chain split? It means that whichever chain retains the BCH ticker will retain the majority of the market cap. Uninformed speculators will sell whichever coin has the new ticker, and buy whichever coin has the old ticker, imagining that they are fleeing the risk of the new-and-shiny into the safe haven of the old-and-reliable. This effect obviously occurred when BCH split from BTC. Is there any doubt at all that the big blockers would have won if only they had kept the BTC ticker, and the small-block chain had to pick a new one? If we want BCH to live on, without the imposition of the IFP, then it is vital that the non-IFP chain retains the BCH ticker. So right now I am calling it. BCH does not have the 8% IFP sliced off the coin base and given to a privileged entity. That is an anti-feature of a different chain. I refuse to use the term "BCH" or "Bitcoin Cash" to refer to a chain that implements that anti-feature. I'm open to suggestions of what to call that other (currently hypothetical) chain, but it is not BCH. [link] [comments]  | ||
| Posted: 06 Aug 2020 12:17 PM PDT Talking about https://flipstarter.mainnet.cash/ and https://mainnet.cash/ (if funded) I think it goes without saying, especially if you look at the list of supporters here, that mainnet library/infrastructure won't be supporting ABC side of the upcoming split (if there's one). Why? Well, look at the list of backers and their comments. That's what backers want, that's what we'll provide. It will be MIT-licensed, because I don't want to use restrictive BSV-style licenses, so ABC side is free to copy it and adapt. Anyone who pledged and expect mainnet to support ABC side of the split, please cancel now, while you have time. Thank you! [link] [comments]  | ||
| Posted: 06 Aug 2020 11:47 PM PDT | ||
| On IFP 2.0: I don't want to say I told you so .. but. I predicted this a month ago. To a tee. ;) Posted: 06 Aug 2020 02:00 PM PDT
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| Posted: 06 Aug 2020 06:03 AM PDT
I find it funny how the article is a lengthy belaboring of the point, all the way until the very end where he at last forcibly "tells us" what's going to happen whether we like it or not. This is not how you engage with the community. This reads more as an openly stated attempt at theft. Amaury just got done changing the DAA because of widespread community disagreement (albeit without admitting this was why). Now, his response is to repeat the same behavior of putting in a change that was previously widely disagreed with, an "8% payment to a specified address" (Infrastructure Funding Plan). Does he really think the community will allow this to pass when the community just banded together against his attempted forceful changes of the DAA, and previously banded together against the IFP? I believe this shows a desperate, last-ditch effort and my prediction is that Amaury will quit Bitcoin Cash development once this last ditch attempt fails to put in place the IFP (for the second time). With this level of desperate action, Amaury clearly won't continue to work on ABC without the extra funding and so this is his last stand— to try to take it forcibly. It's actually quite comical that he thinks he could get away with this. It's like tacking on a bill at the end of another bill, in hopes that one will get passed and drag the other along with it. This might work in traditional politics, but the Bitcoin Cash community is not stupid and has clearly demonstrated it will stand up against such ridiculous developer behavior. I appreciate Amaury's past, constructive contributions for Bitcoin Cash, but Bitcoin Cash is a team effort. And I believe the team of users, miners and developers is going to say "Bye" to ABC. I think this will be the end of ABC, and Bitcoin Cash will be better for it.
Also shared on read.cash: https://read.cash/@ColinTalksCrypto/bye-abc-845c2c85 [link] [comments]  | ||
| Haipo Yang on Bitcoin ABC Foundation IFP Posted: 06 Aug 2020 06:18 PM PDT
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| Posted: 06 Aug 2020 10:28 PM PDT Personally, I believe that there are multitudes of attacks being done behind the scenes to destroy not just Bitcoin, but the whole crypto-system. Bitcoin is obviously the main target since it is the first of it's name, and BCH continues from the original ledger to be the original concept of Bitcoin (despite the miners who have an inability to act against perceived authority). This has shown a weakness in Bitcoin. If miners cannot think/act for themselves, then we are doomed. This is just one attack vector amongst hundreds more, and we have to accept that vulnerability and find a way to address it whilst still allowing miners to actually vote/shift to that which they truly support. Bitcoin threatens the entire world economy. The money of every government. Of every dictatorship. Every bad actor in this world with money to lose. Do not be disheartened by the nature of disruptive, decentralized technology being under attack. When the attacks stop, then we should be concerned. [link] [comments]  | ||
| Posted: 06 Aug 2020 07:38 AM PDT
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| Bitcoin ABC's 8% Miner Tax will go only to Amaury. This cannot stand. Posted: 06 Aug 2020 09:56 AM PDT I just wanted to point out some of the key differences between the earlier IFP and Bitcoin ABC's new miner tax. The original IFP included the following key elements:
The new ABC miner tax drops the 12.5% to 8% and eliminates the Hong Kong corporation, stating only that the full 8% will go to "a specified address." (Source). The difference between 8% and 12.5% is 4.5%, which gets us pretty close to the 5% of the original IFP that would have potentially gone to projects other than ABC (though it could also have gone to ABC at the miners's discretion). ABC have now essentially ripped out any semblance of oversight from the IFP as well as any provision for projects other than ABC. Amaury wants his 8% of block rewards, period. As a long-time Bitcoin supporter, this cannot stand. I did not get involved with P2P electronic cash in order to follow the rules of a malevolent dictator for life. I refuse to follow a chain that pays any taxes to Amaury or ABC in November 2020. I implore the rest of the community to do the same. [link] [comments]  | ||
| Haipo Yang openly musing about confiscating unused UTXOs Posted: 07 Aug 2020 12:34 AM PDT
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| Posted: 06 Aug 2020 05:27 AM PDT | ||
| Is deadalnix testing true Nakamoto consensus? Posted: 06 Aug 2020 02:52 PM PDT | ||
| Posted: 06 Aug 2020 11:27 AM PDT Let's set aside the ticker/name issue for a second and think as scientists about the upcoming experiment. Assuming there will be a split, I think it's going to be interesting. (If the split is somehow avoided, then all of the following makes no sense, of course) I frankly think the experiment of "hashrate-funded centrally-developed Bitcoin Cash" vs "hodler-funded multi-team-developed Bitcoin Cash" is very interesting. I don't mean "centrally-developed" as an offence here, it's just a fact - ABC will be developing it. Before you start throwing in tomatos, let's think about it. We all have front-row seats - each gets equal amount of both coins, so either coin wins - you have your cut. It might even be that BOTH coins will be winners, since unlike the BSV situation, this is going to be probably developed under MIT license, so either side can copy code from other side. (Unless, of course, ABC goes BSV-way and protects their code with a restrictive license, while the other side will be using MIT/BSD licenses for sure) Let's consider both sides' pros and cons. ABC sideI don't really like IFP, but I think what Amaury did was pretty clever and worth considering. With this plan he gets to control his coin fully and impose any rules he sees as best for his coin, be it drift correction, 6-month releases or whatever else. He believes in his power to make this coin the best, so let's see if he can. [+] Corporations are often pretty efficient at what they do. Usually, with capitalism and democracy they will perfect their game like no one, because of competition. [-] But this won't be exactly like capitalism, more like socialism, because ABC/Amaury will get paid no matter their performance. They will always get 8%. That makes people lazy. Why bother if you get your salary anyway? [+] ABC has a track record of 3 years and BCH didn't die, which gives them some credit that they could do it. [+] Amaury and ABC will get paid in their own coin, so the more valuable it is, the richer they get. (Unless they sell for USD immediately) Also, they will get close to $8 million in funding in first year alone (at the current price), which would allow him to hire, well, best of the best in their class (cryptographers, developers, etc...). Amaury knows that and he's right - developers are freaking expensive ($100,000+/year). (Well, again, assuming Amaury will be hiring...) [-] They don't have to listen to the community, so they have no force feedback if what they do is of any value or is it a useless distraction. BCHN + others[+] Hodler-funded means that you don't get paid unless you promise to deliver useful value and have proven to provide value in the past. So you have to perfect your game always - that's much closer to capitalism. [-] Very hard to raise funds. Amaury will get $8m/year while BCHN and other nodes barely managed to collect $100-200K, probably for the next year or so. Hodlers don't want to give away their money too much, because it might 10x or 20x in very short amount of time. [+] If BCHN/other nodes do their job well and the coin value raise - their money becomes more valuable, so $100K might become $1M in a year. Assuming they haven't sold for USD. Something tells me they didn't. [-] Grass-roots things can be short-lived. People are free to join and leave any time, so eventually you get tired of everything. Potential problems with the experiment
I don't see miners as an issue (I explained why here and here) I'm actually curious. Whether corporate efficiency (but with a bit of socialism) or grass-roots (barely with any funding in comparison) will get ahead. Even though there is already a similar experiment going (BSV), but it's still interesting - each corporation is different and where Apple succeeded, many other phone/computer companies failed. Is listening to market critical? Remember Henry Ford: "If I had asked people what they wanted, they would have said faster horses." On the other hand we have plenty of coins with a lot of funding not even in Top 10. Get your tickets (coins) ready, we're in for a ride! [link] [comments]  | ||
| Posted: 06 Aug 2020 11:01 AM PDT
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| Posted: 06 Aug 2020 04:29 AM PDT
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| Posted: 06 Aug 2020 02:21 PM PDT
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| What is BCHN’s roadmap, is it the same as bitcoincash.org? Posted: 06 Aug 2020 06:29 AM PDT | ||
| Posted: 06 Aug 2020 05:11 AM PDT
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| $5.6 Million Double Spent: ETC Team Finally Acknowledges the 51% Attack on Network Posted: 06 Aug 2020 10:30 PM PDT
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