Bitcoin Cash [BCH] team more approachable than Bitcoin Core, says Charles Hoskinson

Earlier this week, Charles Hoskinson, the Co-founder of the blockchain firm InputOutput conducted an ‘Ask Me Anything’ [AMA] surprise session for his community. Here, he answered a question about how Cardano is going to manage a fair distribution of the ADA tokens throughout the community, without a few individuals owning the majority of the token.

He also cited examples in the Bitcoin Core and Bitcoin Cash community, where he compared the two and discussed his experience with each of the teams.

Hoskinson stated that it is beyond his ability to control the circulation of ADA as the tokens are distributed among legal owners and not sitting in a vault waiting for allocation. He said:

“Guys, 100% of ADA in circulation is connected to legal owners human beings with pulses. Some of it the IOHK controls, some of it the Cardano Foundation and some of it Emurgo… And the rest of it is completely owned by the community of which I have no idea, who owns it. It’s all over the damn place.”

He added the fact that rich people exist and he is not here to bring equality to the system. Instead, Hoskinson believes that more important is to promote a system that is not run by the rich, or a small community of individuals but by everyone. ADA distribution includes large-scale purchasers but that does not mean that token is not distributed, stated the creator. In his words:

“…people are all around buying it and you know what happens is the large whales they sell because they’ve made large amounts of profit. If they got in early and it went way up they divest because that’s what you do when you’re rich and smart and when you divest you sell it off in chunks, you don’t sell it all off at once and we still often chunks it goes from one large owner to smaller owners,”

Furthermore, Hoskinson connected the above scenario of exclusive control to Bitcoin. He stated that less than ten actors are in control of the hash power of the entire network. Therefore, the entire security guarantee or the exogenous consensus is controlled by a small group of individuals.

The IOHK Founder also mentioned about his communication with the Bitcoin Cash and Bitcoin Core developers regarding building side-chains. According to Hoskinson, the Bitcoin Core developers appeared to be ignoring the Cardano members and any development talks with them.

Moreover, he stated that the team had no means to communicate or participate with the Bitcoin Core team. To conclude, Hoskinson perceived that they were highly unapproachable.

About the Bitcoin Cash community, Hoskinson mentioned that they were approachable and open to having a conversation with the Cardano team. However, the project is centralized and developed by an exclusive club and not many outsiders are welcomed to join, stated the Cardano creator.