Tuesday, 17 December 2019

Miners sharing rewards (ABC situation)

I've had this thought for a while. What if Bitcoin ABC would include their reward into the code? Something like this: 0.5% of all Bitcoin Cash, mined with Bitcoin ABC, goes to the ABC development team as a second transaction of every block (mined with the ABC client)? Think of it as "a license to use Bitcoin ABC for mining".

With the current price of ~$195 and after halving that would be 144 blocks/day * 365 days * 6.25 BCH/block * 195$/BCH * 0.5% ~ $320K/year, which should be enough to have 2-4 permanent team members (depending on their location in the world).

The reason is obvious: they are developing this software and it's a reasonable expectation to be compensated.

The benefits are obvious: we'll get a funded team without having to ask any companies to do it.

The downsides are less obvious. 1) Would miners' margins allow 0.5% to be shared? 2) Would miners leave and use competing software to mine without giving away 0.5%? 3) Should it be 1%? 0.25%?

Another added benefit might be that if ABC doesn't serve miners well, they could just leave for the alternatives

What are your thoughts?

(It will lead to a situation where we would have 0.5% less hash rate for the same buck, but realistically I think it makes no difference at all.)

submitted by /u/readcash
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source https://www.reddit.com/r/btc/comments/ebsqwt/miners_sharing_rewards_abc_situation/

Without fail, every time within 24 hours after I buy some BTC

(╯°□°)╯︵ ┻━┻

submitted by /u/IsThereCheese
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Bitcoin ABC: We need to seek "untied" funds and resources

submitted by /u/arslanbajwa
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source https://www.reddit.com/r/btc/comments/ebs8g2/bitcoin_abc_we_need_to_seek_untied_funds_and/

This was a beautiful post. A love letter to Bitcoin Cash.

submitted by /u/BCHcain
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source https://www.reddit.com/r/btc/comments/ebs56v/this_was_a_beautiful_post_a_love_letter_to/

r/btc seems mostly oblivious to latest social attack, with many BCH supporters unwittingly joining it

If you take five seconds to look at the profiles of the people who are posting all this abuse against Bitcoin.com and Roger Ver, most of them are r/bitcoin cult members. Stop upvoting retarded memes and abuse they post, they're not constructive criticism and help no one. Real arguments would be fine, but their kind of people is not capable of those.

Bitcoin.com listing another shitcoin out of many already on every major exchange (BTC, XRP, TRX etc.) is a non-issue. Exchanges exist so that accurate prices can be discovered by the market. It's actually great there's a place now where people skeptical of HEX can sell it to those who likely mistakenly believe it to be a worthwhile investment.

And even if it were an issue, this angry mob approach, instigated by our enemies and supported by some unscrupulous members of the community, would be way an overreaction and a detriment to the community, which is what they want.

submitted by /u/weepingguitars
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source https://www.reddit.com/r/btc/comments/ebs0sq/rbtc_seems_mostly_oblivious_to_latest_social/

Bitcoin A Safe Haven.

Bitcoin A Safe Haven. submitted by /u/Frank_Br
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The breakout roadmap for Bitcoin (BTC) thusfar

The breakout roadmap for Bitcoin (BTC) thusfar submitted by /u/EnergyIntensive
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