Bitcoin.com has announced its decision to suspend plans on its earlier suggested tax proposal on Bitcoin Cash (BCH) mining. It has now said that it will not go further with said plans because of the backlash it faced from its earlier announcement.
Bitcoin.com had initially proposed a 12.5% mining tax on all Bitcoin Cash mining rewards. At the time, it was announced that the tax would be used in its entirety to fund the network aimed at improvements and development. It has now announced that it will cancel the plans because the community is not in agreement.
The publication said:
“As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.”
Bitcoin.com might be trying to not just make sure the community is agreement, but also trying to avoid the possibility of a hard fork. It, however, added that it will go back to the drawing board to create another plan that will be beneficial to all.
“We think it is clear that the existing proposal does not have enough support, and we will be working to come up with a plan that is profitable for all the relevant parties and which preserves the fundamental economics of Bitcoin Cash.”
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