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- Vitalik found this tweet as an attack on the developers. He clarified that the upgrade doesn’t give free money to the developers.
- Timon responded to Peter R. Rizun’s tweet. He mentioned that users control the governance of BCH.
- The update takes a portion of the money generated by the users and gives it to others as decided by the authorities.
On February 16th, Peter R. Rizun, the chief scientist, Bitcoin unlimited, posted a tweet where he mentioned that Amaury Sechet is misusing his power to modify the BCH protocols to provide coins to his friends.
The upgrade doesn't give more free money, it redirects 5% of the existing free money given to miners.
And don't give me the "miners work hard for it" argument as though devs don't 🙂
— vitalik.eth (@VitalikButerin) February 16, 2020
Due to this modification, miners and exchanges need to upgrade before May 15th. If they don’t resist and download the new version of ABC, Sechet’s plan will succeed.
He mentions that it will check whether a group of developers could capture Bitcoin cash or nor.
“Bitcoin does not have payouts to 3rd parties encoded into its protocol. If exchanges and miners download and run the new version of ABC, BCH will be Bcash with no rights to the name ‘bitcoin.'”
This tweet got the attention of Vitalik, the developer of Ethereum, who suggested via a tweet that
“getting credible neutrality back would be having a coin vote determine the whitelist. It’s imperfect, but the bicameral architecture could mitigate the risks of either hodler or miner driven governance on its own.”
Another twitter user, Timon, responded to Peter R. Rizun’s tweet. He mentioned that users control the governance of BCH. It would be highly unlikely that any user will upgrade to the new system if it provides free money to Amaury Sechet and his pals. Users only need to refuse the upgrade, and it will work the same way as Bitcoin users refused bcash.
Vitalik found this tweet as an attack on the developers. He clarified that the upgrade doesn’t give free money to the developers. All it does is direct 5% of the money generated by the miners to the developers. He agreed that miners work hard for the rewards, but it doesn’t mean that developers are getting money for doing absolutely nothing.
A user clarified that there is no such thing as free money in this scenario. The update takes a portion of the money generated by the users and gives it to others as decided by the authorities. He compared it to socialism.
Vitalik agreed to this description and suggested that users should also be allowed to vote to decide how much of the money generated is given as a fee and to whom instead of only the authorities deciding this.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
