As many of you know, I’m an original Bitcoin’er from 2012 and a Bitcoin Cash’er since the upgrade. I converted all of my BTC to BCH and continue to use, buy and hold Bitcoin Cash. I’ve been to conferences around the world and have donated time, money and development skills to the project. Most importantly, I’m a true believer that decentralized peer-to-peer electronic cash can free us from the centralized banking plague that keeps humanity in shackles.
First things first: Amaury Sechet’s actions have continually pushed for complete control over the Bitcoin Cash protocol. His attacks have shown that he doesn't care about keeping Bitcoin Cash development decentralized - a measure of health for any cryptocurrency project. I've distrusted him ever since he started attacking other wallet implementations, mainly Bitcoin Unlimited. He comes across as greedy when you compare his actions with that of Gavin Andresen, who gave countless hours to the project freely and made Bitcoin Cash what it is today.
Second: the miners who want this change are planning a 51% attack to force it through. This attack will guarantee them control over ALL protocol development FOREVER. Whoever controls these funds controls the protocol. These so called “concerned” miners can donate to ABC or any other implementation any time they want right now and on a continual basis if they really think Bitcoin Cash development is in trouble. It’s not. This isn’t about funding, this is about them having control.
The proposed 12.5% coinbase theft amount is based on the current (low) price. What about when Bitcoin Cash hits $20,000/BCH or $1,000,000/BCH in a few years? This theft fund will remain in place. BCH developers don’t need that much money - and they probably won’t even get it. This Hong Kong based entity will get it.
This plan isn’t about supporting developers, this plan is about stealing from from other future miners, wrapped in a fake cloak of concern. Whoever controls these development funds will be all powerful. This entity will be able to force changes they want and exclude those they don’t want from protocol development. Remind you of anyone? Blockstream.
This will also ensure their future control when they might not have 51%+ of the hashrate. They are future-proofing mining profits.
Back to Amaury and Bitcoin ABC. Bitcoin Unlimited, and other wallet implementations provide decentralization of development so that when Bitcoin ABC crashes (it has in the past) the protocol continues without issue.
My friends, this change is poison. Amaury Sechet is a good developer, and sure, he should be paid for his time if he gets donations by listening to what the community actually wants. But donations are opt-in and should never be forced by some centralized entity. It’s also odd that Amaury's writing that "everything's fine, nothing to see here" while he makes these changes himself, to enrich himself.
If this hostile attack/takeover goes through, Bitcoin Cash will no longer have decentralized development. It will be forever tainted with the disease of centralized corruption and control. BCH will be a dead coin.
A message directly to Amaury: Your greed and quest for power doesn’t outweigh the need to keep Bitcoin Cash's development decentralized. This community would be better off without power-seeking individuals like you. Any intelligence you've provided is vastly offset by the harm you will cause by introducing this centralization.
submitted by
/u/Annapurna317
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source
https://www.reddit.com/r/btc/comments/et5nbv/the_socalled_proposed_infrastructure_fund_is_a/
!["I discussed [this funding model] at the time. Cartels are incredibly effective models for this type of thing. Considering that it's a 6 month program with a clear start and end dates, I wager this will be incredibly successful."](https://b.thumbs.redditmedia.com/FMNi-z8JKBz_tE5s1JDyQYYzUbyRD3RWBFbAxG19KTQ.jpg "\"I discussed [this funding model] at the time. Cartels are incredibly effective models for this type of thing. Considering that it's a 6 month program with a clear start and end dates, I wager this will be incredibly successful.\"")
