In a somewhat surprising turn of events, Roger Ver, the co-founder of Bitcoin fork, Bitcoin Cash (BCH), today told users to buy DASH on Reddit.
The statement came as a result of users requesting an Infrastructure Funding Plan (IFP) for BCH. The Dash Twitter world was quick to point out Ver’s statement:
As a founder of his own cryptocurrency, Ver does not often shill other coins, and his endorsement isn’t always a positive thing. Ver has been an outspoken critic of the parent Bitcoin chain for years, saying that Bitcoin Cash is Satoshi Nakamoto’s true vision. However, in this case, Ver’s statement reflects a belief that Dash contains the same overall premise of digital cash, but with higher internal governance. This is made possible by the inclusion of an IFP.Yo @CoinDesk & @Cointelegraph Big News! @rogerkver tells #BitcoinCash community on #reddit that peer to peer electronic cash already exists! It’s called @Dashpay! and asks IFP (Infrastructure Funding Plan) supporters to sell their #BCH for #DASH! 👀📈https://t.co/asyShA8aCt
— Mark Mason (@StayDashy) August 18, 2020
What’s an IFP?
An IFP is a plan that allows for the internal workings (the infrastructure) of any system to be funded by the users of that system. In other words, those who most consistently use a system should pay to fund its development. This perspective is true in government, as users pay taxes. However, Bitcoin’s original design eliminated any such centralized governance in favor of volunteer infrastructure management. The BCH network follows in those footsteps and doesn’t have any such plan. However, other more centralized cryptocurrencies like DASH are built with IFPs in mind.Roger Ver’s response
The off-handed remark from Ver reflects the growing pressures within the BCH network to offer some kind of infrastructure control. The lack of such a system, and a decrease in miner activity, could leave the chain without the ability to upgrade. This is the basic motivation for chains like DASH to have IFPs.
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Jon Buck
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about...
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about...
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