Bcash "Burning" BCH

23 Apr 18 - 09:57

Antpool / Bitmain have put out the following statement:

“Some BITCOIN CASH (BCH) investors may have noticed that Antpool has recently begun burning BCH by sending mining fees to a black hole address with each block mined. Twelve percent of the transaction fees earned by the mining pool are burnt. This is voluntary…” Antpool post

By doing this, they are effectively trying to control the inflation of BCH directly (causing the value to go up as less BCH go into circulation) and decreasing the amount of BCH that can ever be minted. i.e. they’re changing the coin cap of BCH. One could argue that the same could be said for lost BTC/BCH because of lost private keys, but this is a deliberate act.

Antpool / Bitmain are also publicly stating that they see no value in the coin and that they do not see it as real money (why burn real value?).

It’s even scarier that people are defending this, just read this thread: