• Bitcoin.com fears that a lack of ecosystem agreement may lead to a split in the chain.
  • They are presently working on a plan that is profitable for all parties and preserves the fundamental economics of BCH.

A few days back, some members of the Bitcoin Cash community proposed a 12.5% tax on mining rewards that would be forwarded to a funding network development. The proposal experienced a lot of resistance from the miners, and it looks like Roger Ver’s Bitcoin.com has also voted to reject the proposal. The company announced in a post:

As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible. We think it is clear that the existing proposal does not have enough support.

Bitcoin.com has asked for flexibility, transparency and unity. They fear that a lack of ecosystem agreement will result in a split in the chain. They also said that they are presently working on a plan that is profitable for all parties and preserves the fundamental economics of BCH. 

We will be working to come up with a plan that is profitable for all the relevant parties and which preserves the fundamental economics of Bitcoin Cash.

A permanent proposal would be in effect a carte blanche on development and would incentivise “development for development’s sake,” which would defeat the purpose of the fundraising [...] to create fast, reliable, digital cash upon a stable, largely unchanging, economically rational Bitcoin protocol.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum price aims for new yearly highs ahead of ETH 2.0 upgrade

Like the majority of cryptocurrencies, Ethereum has managed to recover from its 23% crash and it’s aiming to hit higher highs on Monday. There seems to be very little opposition above as bulls are eying up $720.

More Ethereum News

Cardano Price Forecast: ADA sits in a no-trade zone while momentum builds up

Cardano had an early recovery on November 28 ahead of Bitcoin’s last move toward $20,000. The digital asset is now consolidating and trading sideways as indicators show it is ready for another breakout in the short-term.

More Cardano News

Ripple Price Prediction: XRP sits on the verge of an explosive breakout

XRP traded as high as $0.78 on November 24 before a brief period of a correction down to $0.456. Ripple price is trading at $0.655 at the time of writing, notably recovering from the dip and aiming to set higher highs.

More Ripple News

Yearn.Finance Price Prediction: YFI may take a hit before a massive rally to $35,000

YFI has managed to see a 47% bounce in the past four days after hitting a low of $18,228 on November 26. Bulls are looking to establish a higher high on the daily chart and break $29,890. However, some indicators suggest the digital asset might need to retrace first.

More Yearn.Finance News

BEST CRYPTO BROKERS/EXCHANGES




Gold Weekly Forecast: XAU/USD tumbles to multi-month lows on risk flows, technical selloff

Bitcoin has lived through a roller-coaster week. The pioneer digital currency hit another multi-year high of $19,500 and got really close to the all-time high on Wednesday. 

Read the weekly forecast

BTC

ETH

XRP