RATE Group | Major Bitcoin Cash Pools Force 12.5% Mining Tax on Community
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Major Bitcoin Cash Pools Force 12.5% Mining Tax on Community

24 Jan Major Bitcoin Cash Pools Force 12.5% Mining Tax on Community

Posted at 20:26h in Bitcoin News by

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Leading Bitcoin Cash (BCH) personalities, including Bitmain CEO Jihan Wu and Bitcoin.com CEO Roger Ver, proposed on Jan. 22 an “infrastructure funding plan” that would see miners donate 12.5 percent of all block rewards to a Hong Kong entity. Many in the community turned harsh critics of the proposal.

The fund would be used to promote Bitcoin Cash development, which the miners argue is a “far better solution” than having independent “corporate donors,” such as the Blockstream company for Bitcoin (BTC).

The initial funding would be activated in May 2020 and run for six months. The expected revenue, based on current prices, would be approximately $6 million. This money would be donated for management to a Hong Kong corporation. It is worth noting that the proposal would activate around the scheduled reward halving. With current block rewards, the revenue would amount to about $13 million

Published by the CEO of the Btc.top mining pool, Jiang Zhuoer, the post revealed that…

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