LOL: Bitcoin Cash community bars 12.5% coin mining tax

A proposal that advocated charging a 12.5% tax on Bitcoin Cash (BCH) mining met resistance and ended up being barred by the community.

The tax, which would be levied from March for a period of six months and would serve to finance developers of the network, was made by a group of miners who claimed to have the highest hash rate.

LOL: Bitcoin Cash community bars 12.5% coin mining tax Bitcoin-SV-sobe-15-ultrapassa-Bitcoin-Cash-e-é-a-5ª-maior-criptomoeda-do-mercado

LOL: Bitcoin Cash community bars 12.5% coin mining tax Bitcoin-SV-sobe-15-ultrapassa-Bitcoin-Cash-e-é-a-5ª-maior-criptomoeda-do-mercado

The negative repercussions generated by the proposal led to a positioning of the Bitcoin.com platform, which is founded by the “father” of Bitcoin Cash (BCH), Roger Ver. Although he sees the need for financial support to develop the network, he said that it is still I need more dialogue on the subject.

"Bitcoin.com will not continue to support any plan, unless there is more agreement in the ecosystem, so the risk of a division in the chain is insignificant," wrote the website on Tuesday (28), in a post on the platform Medium.

"We will be working to develop a plan that is profitable for all relevant parties and that preserves the fundamental economy of Bitcoin Cash," he added.
Mining rate reactions

Among the opponents of the fee were Bitmain co-founder Jihan Wu. According to the Bitcoinist website, because of the tax, a Canadian company said it would no longer mine the cryptocurrency.

The cryptocurrency community has also opposed it and many have dismissed Bitcoin.com's action as hypocrisy. This is because collectively in the sector most people preach a libertarian ideology and disagree with the idea of taxation.

Roger Ver himself has already publicly said that tax is theft (Taxation is theft), referring to the collection of taxes by governments.

Another point that also came into question was the security of the network. Due to the fee, many miners could abandon the boat leaving the system precarious.

Investor Whale Panda, who usually comments on controversial market issues on Twitter, wrote the next:

“The BCH tax would have no effect on Bitcoin or on miners. It's just Roger and friends selling themselves (where are the $ 200 million he promised?) And making BCH more vulnerable to attack. ”
Bitcoin Cash

Bitcoin Cash, a cryptocurrency that emerged from a fork in the Bitcoin network in 2017, currently ranks fourth in the market value, at $ 7 billion, according to data from CoinMarketCap.

This Saturday (01) the currency is quoted at US $ 380, about R $ 1,600 in Brazil.

Bitcoin (BTC), the absolute leader in market value (US $ 170 billion), continues to oscillate around US $ 9.3 thousand. In Brazil, cryptocurrency is traded at around R $ 39,500.

https://ourbitcoinnews.com/bitcoin-cash-community-bars-12-5-%E2%80%8B%E2%80%8Bcoin-mining-tax/
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“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

LOL: Bitcoin Cash community bars 12.5% ​​coin mining tax

LOL: Bitcoin Cash community bars 12.5% ​​coin mining tax

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LOL: Bitcoin Cash community bars 12.5% coin mining tax

LOL: Bitcoin Cash community bars 12.5% coin mining tax