Crypto

Roger Ver and Bitcoin.com Back out of the Bitcoin Cash Mining Tax

The Bitcoin Cash miner tax proposal has not gone over too well with the community. Even Roger Ver is backing out of this potential change, which was somewhat to be expected. 

A few days ago, there was a proposal to introduce a Bitcoin Cash mining tax.

The Bitcoin Cash Tax Proposal Won’t Work

Up to 12.5% of every mined block would be sluiced to a development fund for this Bitcoin fork.

It did not take long for the community to revolt.

Even people who are not involved with BCH were not too amused by what some people seemingly wanted to orchestrate.

It now appears that this proposal may be losing key supporters already.

Related Post

Roger Ver, the “public face’ of Bitcoin Cash, confirms he is no longer behind this idea.

An interesting development, as the funding for BCH needs to be addressed in one way or another.  

In fact, the mining pool owned by Ver – Bitcoin.com – will not support this proposed change either.

The team confirms how “ore agreement in the ecosystem is needed prior to making drastic changes”.

A smart way of distinguishing oneself from a plan that could have caused the Bitcoin Cash community to splinter.

AS things stand right now, it remains to be seen how the other pools will respond to this sudden change. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Bitwise Launches Its First Tokenized Fund With $259M in Assets and 4% Annual Yield

Bitwise Asset Management has just made its first move into tokenized funds, and it comes…

11 hours ago

Binance Launches US Stocks and ETFs Trading for Non-US Users With Zero Commission

Binance just made a move that blurs the line between crypto exchange and traditional brokerage…

12 hours ago

NEAR Protocol Ships Confidential Payments, Crosses $19B in Intents Volume, and Partners With Bermuda Government

NEAR Protocol has had a month that most blockchain projects would stretch across an entire…

1 day ago

Chainlink Records 7 New Integrations Across 6 Services and 4 Chains

Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…

1 day ago

Circle Freezes $12.6 Million in Zama’s Confidential USDC Contract on Ethereum

Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…

3 days ago

Exponent Finance Launches V2 To Expand Institutional Yield Markets On Solana

From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…

3 days ago