Supporters of Bitcoin Cash Node or BCHN have rejected Bitcoin ABC’s latest upgrade, which would require miners to donate 8% of all newly minted coins to a development fund from November. One Redditor accused Bitcoin ABC lead developer Amaury Sechet of “choosing to create his own (forked) coin that pays one address 8% of minted funds.”
BCHN does not have the resources needed to maintain their own chain independent from Bitcoin ABC, predicting that BCHN risks being quickly wiped out of existence should they attempt a fork in November.
Nilac told that the ideal outcome to BCH’s dispute would see “the entire ecosystem resoundingly reject this change to the coinbase reward, and where Bitcoin ABC has lost all its market relevance for attempting to do what it has done.”
Nilac asserts that BCHN has the support of large Chinese mining pools, expressing doubt that BCH will fork in November:
“Our code is faster. We have a much faster mining API. Miners were already installing our software before this latest round of controversy. They like our node because it has less latency for mining calls, which reduces orphaned block risk when mining.”
On the issue of developer funding, Nilac said that BCHN is “already well-funded.”
“The ecosystem has funded us with over $700,000 and that’s only after 6 months of existence. Some of our contributors are also individually funded themselves. We have enough funds,” he said.
On Reddit, supporters claim up to 60% of miners are behind them.
Amaury Sechet: BCHN destined to fail
Bitcoin ABC’s Sechet dismissed BCHN’s chances of surviving independently.
“Bootstrapping something from scratch is a very hard task,” said Sechet.
“Calvin Ayre spent many millions on BSV and it can barely compete with Bitcoin Cash even with all its problems. BCHN will find itself in a similar position, but without the kind of resources that Calvin Ayre has — this will be a very tough spot to be in.”
Sechet anticipates that BCHN will encounter “maintenance problems” due to a lack of funds, stating that, “Right now they simply rely on our team for most of the maintenance work, but that capacity will decrease if they go their own way.”
Sechet also predicts that the “constant infighting that has been a drag on Bitcoin Cash since its inception” will also “plague” BCHN, asserting that the project does not have a roadmap and thus no clear vision for the future.
Despite the challenges ahead, Nilac asserts that BCHN has attracted “the brightest minds in Bitcoin Cash development.”
“We are the cool new startup everybody wants to work for,” he concluded.