Do a snapshot, but also let people participate in the creation of extra XCPC. Instead of a burn, spend that BCH on good causes!
Hey Counterparty Cash community!
Been lurking the board the last few days and the sentiment seems to be that people want a fork, or at least those that are voicing their opinion certainly feel that way. I think the threat of legal action against @deweller is uncalled for though. Was it not he who worked on the last XCP update getting rid of dust? Also, isn’t he one of the devs/founders of Tokenly which has helped the XCP ecosystem along its way with tools such as the swapbot and the token distributor?
That said, I’m hoping for a fork. But for other reasons than what has been stated across the board:
First of all, I currently run a project that utilizes Counterparty-tokens. It isn’t of any significance and conceptually super simple. However, it really only works with low fees. So, I welcome any rendition of the protocol that would let me do that. Second, I’m kind of a dumbass and I appreciate it when things are hassle free. When XCPC launches I would like to wake up and use it from where I left off without having to deal with recreating tokens and resending them to everybody. Third, as we head into the future we don’t really know what will happen. Projects that stay with XCP at first might want to move over to XCPC later for whatever reason. Maybe Lightning doesn’t turn out to be the lord saviour, or maybe core reduces the size of OP_RETURN. A fork would let those projects have a back-up, a checkpoint in time they can load if it’s game over.
Even though I would like a snapshot fork, I wouldn’t mind seeing the creation of more XCPC as well. It would hopefully bring in a new wave of interest and more users to the platform while preserving current owners of XCP/tokens. Nobody gets burnt (pun intended). Speaking of which, BCH raised shouldn’t be burnt. It benefits the hodlers and those who can currently purchase BCH. Less supply and more demand effects price. Boring!
I think we can still achieve the three main ethos of the original XCP burn by donating those funds to charitable and good causes. Which were:
- All new XCPC cryptocurrency coins are distributed fairly and proportionally
- Counterparty developers do not enjoy any special privileges
- No lump sum of investor capital that allows developers to “make a killing”
I suggest getting charities onboard before any kind of raising of funds so they can create a BCH address that they can officially announce on their own channels. These addresses will work in the same manner as a burn address, meaning everybody donating to these addresses within a certain period of time will receive XCPC in return. It’ll also allow people to support multiple causes, for example sending half a bitcoin to The Water Project and the other half to MAPS will return the same amount of XCPC. We can do this thanks to the blockchain!
I can imagine some would say that by not sacrificing BCH in the burning pits of the blockchain we’ll be diluting the price of XCPC. Sure, it might have an immediate impact on the charts, however, giving somebody clean drinking water is way more valuable than doubling one’s holdings. Especially when it’s from something that doesn’t even exist yet. It would be a semi-fresh start built on a good foundation, a valuable one. Even if everything fails and turns to shit, at least we would have raised some money for good causes.
I believe it’s more important what we do with this technology rather than how much personal gains we can make from it. It’s all about the bigger picture, it’s what I signed up for. Since it was MLK Day yesterday I’ll leave with this quote:
“We must rapidly begin the shift from a “thing-oriented” society to a “person-oriented” society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, materialism, and militarism are incapable of being conquered.”
– Martin Luther King Jr.
Oh, one last thing. I’m not sure how well “Counterparty Cash” rolls off the tongue globally. Let’s call it C-cash!