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RE: Bitmain burns Bitcoin Cash: Clever tactic or desperate ploy?
Interesting article, I imagine for the large holders to implement this risk/burn approach they must have vast reserves and high future predictions on BCC price (to make it worthwhile). A negative downturn would cause double the damage to BCC portfolio holdings.
Thanks @clockface. It is an interesting tactic, although one must consider that if Antpool is burning 12% of its fees, and they only are 12% of the hashing power, you're really only burning a little more than one percent of all mining fees. Having said that, a one percent burn might not seem like much, but it's still a significant portion of all fees. This is why they are calling on all other miners to burn 12% of mining fees. A concerted effort could really boost the price - artificially, mind you.
My suspicion is that the larger community will get greedy and not want to join in on the burn, instead making money from other burners' efforts.