Bitcoin Forum

The price of ethereum-classic and Ravencoin (RVN) has grown a lot lately. Do you have any idea why there is such a rise in price?
Is this a market price scam or are these new Ethereum replacements for mining in September?

Almost all coins are in green today, not only both, but in case of ETC there's a little support from Vitalik

Source: https://coinquora.com/if-you-like-pow-use-ethereum-classic-says-vitalik-buterin/

I think after POS merge, miners will support these remaining POW coins, not only mining and selling, but buying, holding and spreading the word about them

I don't know if you have seen cointelegraph latest news or if that is true but find below an article which supposedly says that we are just 1 merge away from moving to Ethereum 2.0 however the final implementation will not be before the end or late 2023.This was one interview from developers.Below is the article,I don't know if true or not but it has one hour or so that is published through Investing.com

https://www.investing.com/news/cryptocurrency-news/ethereum-dev-confirms-goerli-merger-date-the-final-update-before-the-merge-2857600 (https://www.investing.com/news/cryptocurrency-news/ethereum-dev-confirms-goerli-merger-date-the-final-update-before-the-merge-2857600)

Yes ETC pumps, because it get support from vitalik, many people also realize that etc was the original blockchain, it has the same feature like ETH, but with less fees. ETC has also a max coin cap - ETH not.

Also this news from Antpool:
AntPool, a mining pool associated with mining rig giant Bitmain, on July 27 commits $10 million to support the Ethereum Classic ecosystem while promising to invest more. Leon Lv, CEO of AntPool, believes the Classic ecosystem can benefit from high-quality proof-of-work (PoW) projects and layer-2 scalability through scaling solutions.

ETC was undervalued and many people call it a scam or so, but the rise of the original Ethereum has began.  :D



But at the moment many altcoins pumping hard last time - BTG RVN BCH LTC for example

I saw a lot of developer information about the last testnet at the beginning of August and in a month the mainnet will be without miners. Maybe they're talking about validators finally being able to spend their rewards :)

If we compare the hashrate of these networks, then the price of Ethereum classic should rise significantly in order for mining to be profitable.

Buckle up  ;D its going to get a lot uglier for some while before things start settling once again, just because vitalik buterin supports ETC doesn't mean its going to a 1000$ and as for profit it's never going to be good like Ethereum.

Vitalik says: "if you like proof of work", after the merge, you should mine ETC". He's just a comedian. Ethereum classic is an empty shell, and he dares to say such bullshit. There are plenty of interesting and much better coins to mine than this Ethereum classic crap. Basically Vitalik is telling us to run mining rigs with no real use except for financial profitability (because ETC is only profitable). Amazing. Personally I prefer Ergo which is a real project with real developers and an excellent vision, or Ravencoin, Flux, Firo, Beam or Zano.

For the moment though it looks like the next best thing in terms of profitability,the fact that the ETC network even got well up 400 T and it is now near it,it shows that a significant hash power was lately thrown into such network,maybe some people shifted their mining rigs because maybe they think that there is room for further upside of such coin.I also expect a further upside but at a maximum just a bit over the last all time high of 179,meaning 200 USD as a maximum for a coin and it is a good choice to mine some coins now.

One thing is sure,the mining world is becoming like a thriller movie which we are seeing for the first time,we don't know at which direction it will end.