Bitcoin Cash Back On Track

Roger Ver cancelled his support for plan to start using piece of block rewards / inflation to fund Bitcoin Cash developers. Great news which means it likely won’t happen but still some serious damage done by many for even supporting this idea in first place and trying to push it through. Of the top of my head, Jihan Wu, Amaury Sechet, Vin Armani, Hayden Otto, Chris Pacia and many other BCH leaders supported it, while many others were silent when they needed to speak out.

Immediately this lowered the moral high ground Bitcoin Cash had in the cryptocurrency community and will be used against us for years to come. It also damaged my trust I had in these leaders, who I thought to have strong principles and sharp business acumen.

I think therefore risk/reward has gone down for BCH, vs for example Ethereum, and a lower allocation is still justified. Other factors also play, such as high odds Bitcoin Core still to test bottom around 4k, which will likely make BCH go down more as ETH. Shifted my exposure from 30% BCH / 20% ETH to 20% BCH / 30% ETH, but plan to go to majority BCH again if we would correct and test the bottom as I feel BCH community was actually strengthened by this conflict, realizing more what we are, how we operate, and what needs be done to see our voluntary donation business model work better.

Talking about importance of POS vs POW, to get high security at low cost, as well as put the power to make big changes to the system where it belongs: with the coinholders. Also discuss crowdfunding platform Lighthouse, developed by Mike Hearn and Olivier Janssens at end video that was originally invented to solve funding problem in Bitcoin Core and I believe would be great solution for Bitcoin Cash, picking up where Bitcoin Core went wrong. Would be very happy to help finance it.

Links:

imaginary_username:
https://twitter.com/im_uname
https://read.cash/@im_uname

Steve Patterson:
https://twitter.com/steveinpursuit
https://read.cash/@Steve-Patterson

Lighthouse platform by Mike Hearn:
https://www.reddit.com/r/btc/comments/eubjqb/bch_dev_fund_why_not_crowdfund/

Post Author: CoinCryptoNews