BUMP!
RIP BCH with devfee! This coin will no longer be decentralized since only a few people control the funds. The real Bitcoin doesn't have a mandatory developer fee. IMO this coin will plan its slow and painful death (if they really implement it)*
*Not financial advice, DYOR, DWYOR
However, they seem to step back with the plan, let's see what will happen next https://read.cash/@Bitcoin.com/update-on-developer-funding-83695ebc
Topic: 12.5% Tax on Real Bitcoin (Read 402 times)
Very funny I heard this news, and fortunately I am not a fan of Bitcoin cash and such. Implement a tax system? Hmm ..? Maybe the team is now out of coins for partying and now they want to party again. Is that so?
This incident was the first time on the top altcoin, implementing a tax system like the government alone. Many miners currently suffer losses due to high electricity and maintenance costs. If the miners just don't want to mine the coins, let alone investors. The logic is like that. Will be a coin that is outdated and does not deserve to be in the top 20 at CMC.
This incident was the first time on the top altcoin, implementing a tax system like the government alone. Many miners currently suffer losses due to high electricity and maintenance costs. If the miners just don't want to mine the coins, let alone investors. The logic is like that. Will be a coin that is outdated and does not deserve to be in the top 20 at CMC.
It sends in me a chilling effect. I don't care about BCH and its future actually but looking at it as it is and trying to appreciate the facts surrounding the issue, it seems Jiang is doing Chinafication of BCH. His presentation of the future of BCH in terms of China and its GDP and Deng Xiaoping's "reform and opening-up policy" and how debate has to be curtailed so that things are done fast and strictly according to plan effectively erased any residue of decentralization and freedom in BCH that crypto should be promoting in the first place.
I wonder if Ver openly and willingly agreed to this or is he elbowed to agreement by all these Chinese?
Jiang amuses me calling the tax a donation. Last I heard donation is a gift given out of willingness. But why is it that the 5th part of the infrastructure there is a need to orphan any block that does not follow the plan. And all to "avoid a tragedy of the commons"? Says the totalitarian and ruling elite. For the commons, the commons are sacrificed. So very China!
Ironic right? I wonder if Ver openly and willingly agreed to this or is he elbowed to agreement by all these Chinese?
Jiang amuses me calling the tax a donation. Last I heard donation is a gift given out of willingness. But why is it that the 5th part of the infrastructure there is a need to orphan any block that does not follow the plan. And all to "avoid a tragedy of the commons"? Says the totalitarian and ruling elite. For the commons, the commons are sacrificed. So very China!
I bet Roger just nodded to the decision since all his previous attempts to discredit the only true BTCitcoin failed. Forcing a donation out of the miners is obviously a desperate move to revive the bitcoin cash ecosystem. Let's see how it pans out but I doubt that method will work for long term. Paying 12.5% for six months will surely become a burden for smaller miners.
It is not very good to tax the miner because he already makes a big fee for electricity. Once again I am convinced that the tax is an ordinary fraudulent scheme under the guise of something important.
So, BCH is the real bitcoin 
Roger is Satoshi He does not like Bitcoin anymore because he has found the most decentralized chain BCH.
The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward That's for developing firm from Hong Kong. The tax will be affective from May.
Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
BCH is not a real bitcoin, BCH is only a fraction of his son BCH and not a bitcoin maker who created BCH because from the beginning of the emergence of the Sathosi from old times until now nobody knows. So the BCH project had a personal person. And I think the tax is too big if every block has to pay 12.5% every transaction, although it is safe, I think enough burden people to use it transact. So what about you guys about who actually mastermind all this?Roger is Satoshi
He does not like Bitcoin anymore because he has found the most decentralized chain BCH.The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward
That's for developing firm from Hong Kong. The tax will be affective from May.Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
What do you mean safe?
The miners should be asked fairly whether the tax will be implemented or not, or whether it will be reduced or not. It should be coming from a consensus and not just from the few rich elites withing the BCH mining community.
Miners must have another choice to leave this coin and try to mine cryptonight coin which is much better than BSV. This is just like the team was cheating the community.
The rest of the miners have no option but to follow the order made by Roger Ver and friends. It is whether they will continue mining Bitcoin Cash and pay that 12.5% tax or they will get out of the Bitcoin Cash mining business. There is no other choice. If they prefer to continue with their Bitcoin Cash mining operation and not pay the 12.5% tax, they will still be kicked out. So I guess it is either they will pay or they will leave. If I were a Bitcoin Cash miner, I would prefer the latter.
Maybe this is some kind of joke, but do you really think that BCH is decentralized? Do you know the basic principles of decentralization? as long as there is a person who manages the project and he is also its CEO, this network cannot be called truly decentralized. BCH is a fully centralized coin. Maybe 12.5 percent a huge commission? I would recommend to everyone who reads this post not to invest their money in this coin
So, BCH is the real bitcoin
Roger is Satoshi He does not like Bitcoin anymore because he has found the most decentralized chain BCH.
The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward That's for developing firm from Hong Kong. The tax will be affective from May.
Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
BCH is not a real bitcoin, BCH is only a fraction of his son BCH and not a bitcoin maker who created BCH because from the beginning of the emergence of the Sathosi from old times until now nobody knows. So the BCH project had a personal person. And I think the tax is too big if every block has to pay 12.5% every transaction, although it is safe, I think enough burden people to use it transact. So what about you guys about who actually mastermind all this?Roger is Satoshi
He does not like Bitcoin anymore because he has found the most decentralized chain BCH.The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward
That's for developing firm from Hong Kong. The tax will be affective from May.Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
What do you mean safe?
The miners should be asked fairly whether the tax will be implemented or not, or whether it will be reduced or not. It should be coming from a consensus and not just from the few rich elites withing the BCH mining community.
Miners must have another choice to leave this coin and try to mine cryptonight coin which is much better than BSV. This is just like the team was cheating the community.
Aha, this is what the BCHers want - decentralization!
This is the true nature of decentralization for them, getting taxation by the centralized coin that they are supporting. A total control for their own network that they've just built. I think this was all planned when they've managed to get a quite number of miners.
This is the true nature of decentralization for them, getting taxation by the centralized coin that they are supporting. A total control for their own network that they've just built. I think this was all planned when they've managed to get a quite number of miners.
Such names as Jiang Zhuoer, Jihan Wu, and Haipo Yang are like creating a Communist Party of China (CPC) in the BCH community. And it sounds perfectly like a Chinese government with their follow-or-be-punished condition. The big brothers are here.
If you take a look at Jiang's blog, they came up with this decision after following Deng Xiao Ping's policies. Quote from: https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e
Cat philosophy： No matter white cat or black cat, a cat that catches rats is a good cat.
River philosophy：To cross the river by touching the stones.
Non-debate theory：Non-debate theory is my invention. Non-debate, is to gain time to work hard. When you debate, everything becomes more complicated and it wastes time. Nothing can be done. Don’t debate, and just try. Be brave and experiment.
River philosophy：To cross the river by touching the stones.
Non-debate theory：Non-debate theory is my invention. Non-debate, is to gain time to work hard. When you debate, everything becomes more complicated and it wastes time. Nothing can be done. Don’t debate, and just try. Be brave and experiment.
They pretty much gave up the "decentralization" with that non-debate theory.
It sends in me a chilling effect. I don't care about BCH and its future actually but looking at it as it is and trying to appreciate the facts surrounding the issue, it seems Jiang is doing Chinafication of BCH. His presentation of the future of BCH in terms of China and its GDP and Deng Xiaoping's "reform and opening-up policy" and how debate has to be curtailed so that things are done fast and strictly according to plan effectively erased any residue of decentralization and freedom in BCH that crypto should be promoting in the first place.
I wonder if Ver openly and willingly agreed to this or is he elbowed to agreement by all these Chinese?
Jiang amuses me calling the tax a donation. Last I heard donation is a gift given out of willingness. But why is it that the 5th part of the infrastructure there is a need to orphan any block that does not follow the plan. And all to "avoid a tragedy of the commons"? Says the totalitarian and ruling elite. For the commons, the commons are sacrificed. So very China!
That's what you called an absolute abuse of power. Roger Ver thinks that this changes could let it BCH grows such as bitcoin. Decentralized mindset but keeping tabs of the taxes. Good luck with him and his BCH no difference with CW claiming btc as his own. Those two are really messing up with crypto enthusiasts who supporting bitcoin. But I doubt they can easily caught up with all their shits on the ground.
I wish to put fee 99,99% for miners who mine BCH and all miner to keep mining it. In this way i not see much longer life to BCH, maybe will be mined only by the team behind BCH who know.
Who other than his team and a little group of miners are mining BCH? I think no one. Mining difficulty of BCH is- 538,100,460,210.29 while difficulty for bitcoin is- 14,776,367,535,689.00It's easy to guess what's going on. Only a group of people has almost 33% control of BCH chain. That's not what people call decentralized.
I wish to put fee 99,99% for miners who mine BCH and all miner to keep mining it. In this way i not see much longer life to BCH, maybe will be mined only by the team behind BCH who know.
BCH team keep saying they're better than bitcoin since 2017 since roger the CEO bitcoin.com moving to support fully on BCH and till right now they keep consistent about supporting BCH even the BCH itself is not making any decent growth last year. But i'm still sure BCH won't surpass bitcoin in terms of price and volume
I wish to put fee 99,99% for miners who mine BCH and all miner to keep mining it. In this way i not see much longer life to BCH, maybe will be mined only by the team behind BCH who know.
So, BCH is the real bitcoin
Roger is Satoshi He does not like Bitcoin anymore because he has found the most decentralized chain BCH.
The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward That's for developing firm from Hong Kong. The tax will be affective from May.
Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
BCH is not a real bitcoin, BCH is only a fraction of his son BCH and not a bitcoin maker who created BCH because from the beginning of the emergence of the Sathosi from old times until now nobody knows. So the BCH project had a personal person. And I think the tax is too big if every block has to pay 12.5% every transaction, although it is safe, I think enough burden people to use it transact. So what about you guys about who actually mastermind all this?Roger is Satoshi
He does not like Bitcoin anymore because he has found the most decentralized chain BCH.The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward
That's for developing firm from Hong Kong. The tax will be affective from May.Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
What do you mean safe?
The miners should be asked fairly whether the tax will be implemented or not, or whether it will be reduced or not. It should be coming from a consensus and not just from the few rich elites withing the BCH mining community.
So, BCH is the real bitcoin
Roger is Satoshi He does not like Bitcoin anymore because he has found the most decentralized chain BCH.
The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward That's for developing firm from Hong Kong. The tax will be affective from May.
Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
BCH is not a real bitcoin, BCH is only a fraction of his son BCH and not a bitcoin maker who created BCH because from the beginning of the emergence of the Sathosi from old times until now nobody knows. So the BCH project had a personal person. And I think the tax is too big if every block has to pay 12.5% every transaction, although it is safe, I think enough burden people to use it transact. So what about you guys about who actually mastermind all this? Roger is Satoshi
He does not like Bitcoin anymore because he has found the most decentralized chain BCH.The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward
That's for developing firm from Hong Kong. The tax will be affective from May.Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
This step confirms that bch is not decentralized rather it is a centralized and controlled coin where policies and rules can be changed anytime, i do not think there is space for such dictatorship based decisions in decentralized world of cryptocurrencies, i think this forced tax will definitely hurt both bch trading as well as mining market.
A better point from this case if roger and BCH team act as the next modern IRS. What i still don't understand is about will the taxation be done through vote?This is not a decentralized coin since it was created by roger ver and why didn't ver just sold all of his million bitcoin and BCH to funding the BCH team that is still doing development to the protocol.
That is what we are talking about, centralization of one man (one entity) is the biggest problem. He came with an idea and could completely destroy the system. While in real Bitcoin, people should agreed on a change, here vox populi doesn´t have a value.
So, BCH is the real bitcoin
Roger is Satoshi He does not like Bitcoin anymore because he has found the most decentralized chain BCH.
The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward That's for developing firm from Hong Kong. The tax will be affective from May.
Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
Roger is Satoshi
He does not like Bitcoin anymore because he has found the most decentralized chain BCH.The real decentealized shitcoin miners have to pay 12.5% taxes on each block reward
That's for developing firm from Hong Kong. The tax will be affective from May.Enjoy the network, decentralized network.
https://coingape.com/a-12-5-tax-on-mining-rewards-is-bitcoin-cash-bch-really-decentralized/
They are only going to lose hash rate to bitcoin with this move. As a miner the profitability will always hover around the same it's just the difficulty that will adjust. Bcash seems to be turning themselves into a non significant alt amongst the vast majority of the others. Cant wait until the halving, their coin will be as secure as any other alt soon lol.
Lol, Bitcoin Cash was a heap of trash before, but now it's practically done for.
This will be the first top 10 cryptocurrency to include such a tax.... Why on Earth would they think it's a good idea to announce this now, when Bitcoin SV is literally hot on its tails.
Either way, I hope both BCH and BSV drop out of the top 10 and get replaced by more deserving coins. There is really no space for a bitcoin alternative in the top 10.
This will be the first top 10 cryptocurrency to include such a tax.... Why on Earth would they think it's a good idea to announce this now, when Bitcoin SV is literally hot on its tails.
Either way, I hope both BCH and BSV drop out of the top 10 and get replaced by more deserving coins. There is really no space for a bitcoin alternative in the top 10.
At first I feel this was a concern, but later I think this is a good move, most of these miners only cares about them selves and doesn't care about the development of the platform, the developers on most of these POW coins are not greatly rewarded, if the miners has taken this has their primary responsibility no one would force this on them. And remember this is just for 6 months
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