BCH miner’s choice

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Two major cryptocurrency companies called “CoinGeek” and “nChain Group” just announced a “Miner’s Choice” initiative for BCH miners. This basically means that they are making two major software changes.

The first would be removing the “dust limit” which, by their words “will ignite growth of Bitcoin Cash usage”. This means that we could make a transaction worth only 1 satoshi and that it becomes easier to implement colored coin solutions and tokens on Bitcoin Cash, becoming the alternative of Ethereum ERC-20 protocol. 

The other major change is – accept some free transactions in each block the miners mine. This means that that they want to eliminate the standard requirement of 1 satoshi per byte. nChain’s mining firms “will each designate a number of free transactions they will accept in each mined block”. 

As good as all this ”power to the miners” movement sounds, will this initiative cover the mining costs for miners? This question gets thrown around twitter a-lot. Some tweeters are exaggerating about a negative fee implementation, just for the laugh of it. 

But in general the responsiveness of this message is pretty weak. I think it’s because BCH has corrupted the Bitcoin name in the past by taking over Bitcoin’s twitter page, web page and other media channels, strongly imposing that BCH is “the real bitcoin”, basically using those platforms to promote their BCH fork. And these actions has caused a lot of doubt and reluctance against Bitcoin Cash in the cryptocurrency community. No wonder it’s “street” name is Bcash.



Written by: 

Jānis Rijnieks­