A Bitcoin Cash hard fork caused by the proposed mining tax was avoided after Roger Ver and Bitcoin.com withdrew their support.
Earlier in the week, Jiang Zhuoer released the proposal to direct 12.5% of the mining rewards to support BCH infrastructure this year. Initially this proposal was supported by the four major BCH mining pools. A consequence of this change would have been the blocks discovered by the miners who refuse to pay the tax would have been abandoned.
In response, anonymous miners in North America and Europe announced the formation of a mining group that opposes the tax.
“We will launch a competing BCH group in the short term to give a voice to the miners who do not agree with the proposal. We will voluntarily donate 1% of our revenues to development teams, while giving our miners a voice on how to donate.
Assuming the proposal is not withdrawn or modified to be acceptable, we will continue to pull up to a hard fork, which will create our own chain. “
The proposal to charge the miners does not have sufficient support
Bitcoin.com has decided to withdraw its support for the 12.5% tax proposal:
“We believe it is clear that the existing proposal does not have enough support and we will work to develop a plan that will be profitable for all relevant parties and preserve the fundamental economy of Bitcoin Cash,”
said Roger Ver’s company.
In 2018, both Bitcoin Cash (BCH) and Bitcoin SV (BSV) spent tens of millions on the hashrate competition.
The previous war also had a disastrous effect on cryptocurrency prices, especially Bitcoin Cash itself. The currency lost 87% of its value in the five weeks of November of that year.
A repetition of this situation is not wanted by anyone in the crypto space.
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