Normally I dont talk about other cryptos on steemit but the situation demands that i make an exception for this one.
4th largest cryptocurrency by market cap and one of the most popular one, Bitcoin Cash has been under immense fire from mining community for quite sometime now owing to tax impositions on miners.
Consider Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV) as twin sons of bitcoin.. and quite naughty ones too. Actually BSV is the hardfork split of BCH over dispute of BCH swinging away from original Satoshi's vision of how bitcoin should be. Surprisingly, they are both doing well in terms of price and market cap but one (BCH) has been going down hill in terms of development and the other (BSV) is stuck in the complex mindset of its inventor (Dr. Craig Wright who claims to be Satoshi Nakamoto).. But still, they are doing great in market.. How? I have no clue.
But lets come back to BCH.. both BSV and BCH are due for halving in april. It is normally envisioned that prices should go parabolic for these coins as miners' rewards would come down from 12.5 to 6.25. However, BCH lately has been pushing some weird fascist agenda on its miners to pay 12.5% of tax on each mined block reward. Currently, after due deliberations and talks with miners, they have brought down the tax to 5% which is still nuts.
Mining community of BCH is not having it though and are threatening to fork away from original Bitcoin Cash protocol as not only tax impositions would hamper their earnings but also after halving in april, it would actually be profitable for miners to mine bitcoin instead of bitcoin cash. This could be dangerous for bitcoin cash because a situation like this would drive BCH prices to dust.
May be.. But i am more interested in listening to opinions from fellow steemians.. surely many of them hold world's fourth largest crypto in smaller or larger numbers. So what do you think?
