AntPool burns, more recently, parts of their Block Rewards – more precisely, 12 percent of the transaction said fees for a mined block. As a reason was the Mining Pool, this makes the whole Bitcoin-to-Cash System to upgrade and thus have an economic incentive to Hodln to give. What a noble motivation – but is there more to it?
Disclaimer: I, Alexander Roos, am not a supporter of the On-Chain-scaling of Bitcoin Cash. 90 % of my BCH I sold a short time after the Hard Fork, and hold since then, only a small proportion. The Front men of the big blocks – Roger Ver, Jihan Wu, Craig Wright, et. al. – seem to me suspicious; what should mean in the crypto-Space extreme caution. Note reading so that I am personally BCH critical.
The role of Bitmain, in the Bitcoin Cash
Bitmain is the largest Mining Hardware manufacturers in the world. In the front of the shelf: the ASICs – computer, which can only be Calculated of blocks used. ASICs are more efficient than conventional Hardware. Over time, the theory, pushed the Hobby Miner from the market. Especially the fact that Bitmain is the largest manufacturer, widespread General concern.
We remember back to last year: The scale debate was fully ignited and rumors about the so-called “ASIC-Boost” made the rounds. The ASIC-Boost was a Trick to make the ASICs from Bitmain to run even more efficiently than the ASICs of others. SegWit would as a by-product of the Transaction Malleability this unfair advantage off. At once the Opposition no longer had a on the part of Bitmain as an objection, was worried about the safety and future of Bitcoin, but how bare greed. The Plan: the network as a hostage to keep the cow as long as possible milking. Then it gave way to the popular uprising, the User Activated Soft Fork, and Bitcoin Cash forkte of Bitcoin. The ASICs could be used.
AntPool, the selfless Savior of the Hodler
Since the Fork, it was not Bitcoin Cash price as well as Bitcoin. Even if Roger Ver is always emphasized that the BCH of the true Bitcoin. The Propaganda is not enough, economic incentives are needed. AntPool, a Mining Pool under the control of Bitmain, has announced 12 per cent of the transaction to burn fees for all geminter blocks. Thus, the quantity of money in Bitcoin will be lowered Cash. The price of money, i.e. purchasing power, is derived from the total money amount, and the absolute demand. The Burning of tokens, the quantity of money lowers. The demand remains the same or increases, the price rises. For everyone’s benefit! Or?
No, AntPool is not benefited. Effectively, the Pool makes up for in action losses. This loss of profit for the benefit of the System. The company also advertises the Hodlern and the Ecosystem’s sake.
A second glance
Behind AntPool Bitmain. To me, the “fundraiser” as a PR Coup, to rescue a dying crypto-currency. The 12 per cent of the transaction are much cost for Bitmain. However, could the press release have a much greater psychological effect on the market – à la “OH WOW! Less Supply at BCash than Bitcoin! All-in“. Of course, this is an overstatement, but the point stands: If the message is more people on BCH popping up and it is also a long-term hodln, Bitmain, pardon, AntPool with a Plus of the matter.
We calculate how much money AntPool on 23. April has burned:
Gemint 17 blocks. The average transaction fee per Block is 0,01046389 BCH. The price per Bitcoin to Cash was approximately EUR 1,400. 17 * 0,01036389 BCH = 0,17618613 BCH by transaction costs. This corresponds to 0,17618613 BCH * 1,400 euros/BCH = 246,66 Euro. We take 12 per cent, has AntPool burned at the 23.4.2018 (246,66 € * 0,12 = 29,60 €) just under 30 Euro.
You have not picked up. For me there are 101 reasons that speak against Bitcoin Cash. If I’ve learned anything from the past year, then the crypto-Space is a field of battle. Here is schemed and betrayed. I think is supposed to be a hint of altruism for a cheap Marketing train. The amount of money taught, so Rothbard to me, plays no role in the economy.
The strategy seems to work well. Bitcoin Cash has increased in the last few days to 100 percent. Since the 30 Euro per day also fall into the weight.