I’m sorry, it’s the Spring Festival holiday in East Asia, and there is a serious pneumonia (2019-nCoV) epidemic in Wuhan, China. We have spent a lot of time tracking the epidemic and procuring medical supplies, so I have not been able to respond to your discussion on "Bitcoin Cash Infrastructure Financing Plan" in time. I apologize again.

First of all, there is a cultural misunderstanding in communication. "No argument" does not mean "I refuse to discuss with you" and "I do not accept your opinion", but it means "let's stop arguing and actually give it a try. If the result is good, we will continue. If the result is not good, we will stop."

As I answered in the AMA, many parts of the plan have not been finalized and are still under discussion. Here are some results of recent discussions, and my views are as follows (need to exchange opinions with other mining pools):

1. Donation Methods

Let’s start with the last step: miners will donate directly to development projects. In the mined block, miners directly send part of the output to some projects they want to donate . For example, miner X can send n% of the output to the address of project A and m% of the output to the address of project B.

The advantage of this is that it removes the companies that accept donations, which may lead to centralization. Of course, I still recommend setting up one (or several) foundations, and you can refer to the ETH Foundation, which I think is doing well . If miners are not sure which project to donate to, they can donate to the foundation, or refer to the foundation's fund allocation ratio and donate directly to various projects.

2. The Foundation will run the test for a period of time

Before the miner donation plan begins, the BCH Miner Fund will be established first and accept donations from miners, as well as donations from individuals and companies that are not miners. The foundation will run for a period of time to let the community see the effect . The decision-making power of the foundation will be determined by the donors voting in proportion to the donated funds (those who do not want to vote can abstain).

This creates a good competition mechanism where all projects (including more than one foundation) must work hard and publish transparent finances in order to gain more support and donations from the community (miners and non-miners).

3. The option of not donating

What if some miners think that all projects are bad and do not want to donate or do not accept donations? In order to avoid the tragedy of the commons, they have the power to send the output that should be donated to the black hole address and permanently destroy these coins - this is essentially donating these coins to all BCH holders.

4. Decide on the donation method

One of the reasons why the previous plan was opposed was that many people felt that this was a decision made in secret without public discussion. Therefore, I hope that the plan will start in another form - computing power voting . Some people may think that miners do not have the power to vote on the affairs of the entire BCH community, but I think that miners at least have the power to vote on how to spend their output, right?

I hope to complete a 3-month miner vote (possibly using bmp.virtualpol.com to vote). If 2/3 of the computing power votes in favor of the donation, then I hope the developers can write the donation plan (sent to the project or black hole address) into the May 2020 version upgrade . If there is not enough time, write it into the November 2020 version upgrade. The donation will last for 6 months until the next upgrade.

5. How to vote

Of course, some people may wonder how a 1/3 of the current support hashrate can get a 2/3 majority vote. This is not difficult, it depends on how many people are willing to pay for BCH.

Currently, there is a lot of anonymous computing power on BCH, which sometimes accounts for half of the total computing power, but most of the anonymous computing power actually comes from Poolin.com, which only mines when BCH is more profitable. Therefore, as long as they are willing to mine at a loss and control the profit of BCH to be slightly lower than BTC, these anonymous computing power that only wants to make money will not come to BCH to mine .

6. What will I do?

I personally hold about 3500P computing power, and I can also influence about 10000P computing power, so the total computing power is sufficient. Of course, considering that sometimes you need to mine at a loss, and I am just one of the shareholders of mining pools such as BTC.TOP, I cannot let the company lose money mining because of my wishes, so my personal computing power will be mined under a new name (D.TOP). Please don't be surprised when you see that this new mining pool accounts for a larger proportion of computing power:)

In addition , if there is a next vote, I will vote against continued donations to ensure that after 6 months of donations, the next version will stop donations. The future development will be decided by the community.

7. Proportion of miners’ donations

The 12.5% ​​ratio is the opinion of other mining pools. In my opinion, this ratio is too high. Considering that the price of BCH will rise sharply in the bull market from 2020 to 2021/22, I think a donation ratio of 2~3% will be enough in mid-2020 or at the end of the year, and maybe 1% will be enough in 2021 .

8. Welcome to vote and donate

I hope that all miners who care about the long-term development of BCH will participate in the vote. Only votes with costs (the income from mining BCH during the voting period is slightly lower than that of BTC) are real and valid votes . If the final result is that the donation plan is not passed, I will also be happy to accept it.

9. Why does BCH need a miner donation program?

It's very simple. Each project developed by BCH needs funds. Relying on donations from BCH companies is not enough and will cause BCH to develop too slowly. For example, ABC currently relies mainly on donations from a few companies, and these companies hope that the BCH project can support itself and are preparing to gradually reduce funding.

A decentralized community cannot rely on centralized corporate donations for a long time. Blockstream and Core are good negative examples . If BCH can successfully conduct decentralized donations first and allow decentralized miners to donate to different development teams according to their own wishes, then BCH will be ahead of all other coins.

10. I am glad that you can give various opinions on the donation plan.

I'm always reading everyone's opinions, for example this article was posted on read.cash (not on medium.com).

The above is my personal opinion. There is still a lot of content that needs to be discussed by the community. Thank you again for your opinions and reading:)