I cashed out all my Lisk (except for mal_dapp_fund) 72 hours ago for 286 BTC (which I bought at ICO for 135 BTC four months ago).  If I had done nothing, I would be holding Lisk worth 316 BTC today.  Instead, I am now hodling ETC worth 390 BTC.  What would you do?

I made 151 BTC profit in Lisk.  That took me 4 months because I was hodling Lisk since I truly believe in its tech.  Now I've made 74 BTC (unrealized) profit (so far) with ETC in just three days.

Anything could still happen.  I have a stop loss in place to bail me out with enough BTC to buy back into Lisk at my original holdings.  It would currently take a 20% drop in ETC to hit that stop.  But the initial storm is dying down, and ETC / ETH is starting to look more and more like a normal market.  Every day ETC survives now, it becomes more and more legitimate.   The more legitimate ETC becomes, the more likely its price will at least drift upward to match the price of ETH.  Which is $10.    

What would you do?

I updated my Lisk testnet node to 0.3.2 last night, that's what I did.

Hi, diplo!  Did you follow me into this mess?   

It's too early to say there's a patterns in this crazy market.  However, after two days there seems to be real market resistance to letting ETC drop below 0.004 BTC each, and the miners are definitely allocating hashes proportional to the ETC/ETH price ratio.  People are acting like they want ETC to stay around for a while.  Today, survival of ETC itself is the goal, and so far that goal is being met.  I think I will hodl for a while.  Silly me.



http://coinmarketcap.com/currencies/ethereum-classic/#charts :



https://slacknation.github.io/medium/13/13.html :
 

Elaine Ou was the CTO of the Sand Hill Exchange, a blockchain-based fantasy stock market that was terminated by the SEC in 2015.  She is a leader in the Silicon Valley Ethereum group (http://www.meetup.com/EthereumSiliconValley/events/232438189/), which is quite large.  Now she's at the blockchain company Privacy Shell (https://privacyshell.com/) where her bio reads:  "A blockchain expert and PhD from Stanford University, Elaine works closely with Toufi and Dann on some of Privacy Shell’s crypto-blockchain innovations, as well as helping structure inventions, and architecting mission critical software. Before her PhD, Elaine attended Harvard and The California Institute of Technology." Here's her twitter and LinkedIn:  

https://www.linkedin.com/in/elaineo

https://twitter.com/eiaine

Here's what happens when a DAO-like event happens In Real Life (IRL):

http://elaineou.com/wp-content/uploads/2016/07/forkyou-1.pdf

Spoiler Alert:  NYSE, NASDAQ and the SEC don't bail out individual investors.  (Only banks, but that's another story...)

And see this:

http://elaineou.com/2016/07/29/how-to-create-money-out-of-the-ether/

Interesting article on the rise of ETC.  Maybe this was posted here earlier, but new to me. 

https://steemit.com/cryptocurrency/@whalepanda/what-happened-with-ethereum-usdeth-and-ethereum-classic-usdetc

So do miners.  See and monitor into the future this chart:

ETC Price / Mining As Factor Of ETH

https://slacknation.github.io/medium/13/13.html

ETH forging is down from a peak of around 4400 in the past 72 hours.

I urge everybody in this thread to take three minutes and watch this video.  It was the topic of a whole TeD talk and is critically relevant to ETC at this two-week point in its development.

Leadership Lessons From The Dancing Guy

https://www.youtube.com/watch?v=fW8amMCVAJQ

I've owned ETC for a grand total of 48 hours.  Now I own a lot of it.   I'm planning on holding it as long as there is potential for growth - not just price, but capability - and I believe there is such potential.  I'm still getting oriented.  Let me read the back posts here and absorb my new surroundings.  I plan on sticking around for a good long while and yeah, I want to help.

I would like to see ETC stay a PoW coin or perhaps a PoW/PoS coin as Charles suggests in his blog post link I listed above.  The most dramatic break ETC could make is to reject the upcoming Casper fork and avoid following ETH into pure PoS, a place where miners have no place.  

An early decision to reject an upcoming PoS-only future and agree that miners will always have a place in ETC could have significant impact in luring miners away from ETH towards supporting ETC.

Excellent post.  Organizing is critical to keep ETC healthy, and initial supporters reaching out to the public user base is the key to organizing.  

ETC must rally around somebody with a vision, fast.  

Please allow me to introduce who I believe is the most viable person to fill the role of ETC initial organizer, the original CEO of Ethereum, Charles Hoskinson!  Charles says he will not seek a leadership position in ETC (see blog post below) .... but perhaps he can suggest and guide us towards finding appropriate people who will.

"Hoskinson founded Invictus Innovations and created BitShares which is the first cryptocurrency utilising Delegated Proof of Stake, a consensus algorithm also used by Lisk. He is a founder of Ethereum and served as its initial CEO from December, 2013, until June, 2014. Hoskinson’s major contributions to smart contract platform include designing the legal structure, crowdsale model, and building a global network of evangelists and developers which continues to this day. He worked on the original cryptographic design and is greatly responsible for what it is today. Hoskinson is currently the CEO of the Hong Kong based Input Output HK, which hosts one of the largest cryptocurrency research divisions in the world."

LinkedIn:


https://www.linkedin.com/in/charles-hoskinson-1a95a4b4

Why Charles Was Fired From Ethereum:

https://www.quora.com/Why-was-Charles-Hoskinson-fired-from-Ethereum

Twitter:

https://twitter.com/IOHK_Charles/status/760835669853777921

Blog Post On ETC / ETH:

https://steemit.com/dao/@charleshosk/hoskus-parvum-opus-a-brief-sojourn-back-to-ethereum

Charles - here's the microphone.  Please take it and say something constructive that will provide a nucleus to crystalize around.  Good luck to us all as we start this ETC journey!  

<hands microphone to Charles, heads offstage....>

Go to the delegate channel at http://lisk.chat.  Copy your testnet account number into a chat post asking tor testnet lisk to register a delegate.  Somebody will send you some test lisk.  If they don't, send a private message to joel directly with the same information.

And for the record....

This would be a great voting list next time you access your Lisk account and want to vote for delegates to secure the Lisk network.



LISK VOTING - HOW?

PLEASE GO TO THE MAINNET LISK ONLINE WALLET AT https://login.lisk.io/ AND CAST YOUR VOTE FOR YOUR CHOICE OF DPoS STANDBY DELEGATES TO EVENTUALLY REPLACE OLIVER'S GENESIS MACHINES.  

Any account containing more than 1 Lisk can vote for which 101 Lisk delegates will be forging new blocks every 10 seconds for the Lisk blockchain.  The number of votes you will be giving each candidate is equal to the number of Lisk in the account minus 1 Lisk that is deducted as a voting fee.  An account containing 1000 Lisk that votes for, say, 20 delegate candidates (instead of the 101 maximum) will be giving 999 votes to each of 20 candidates.  If you have multiple Lisk accounts, you will need to vote each account separately.

STEPS TO VOTE

1. Log into your Lisk wallet with your 12 word passphrase at https://login.lisk.io

2. Click on "Forging" on the left-side column

3. Click on "Delegates" on the top-most row (between "Forging" and "My Votes")

4. Now you are on a long webpage divided into two sections: "Top Delegates" and below them, "Standby Delegates".  Only 25 delegates are shown in each section.  At the bottom of each section are "page numbers" you can click to show other delegates for each section in blocks of 25 at a time.  At the time this tutorial is written, all delegates in the "Top" section are Genesis nodes run by Oliver.  Actual individuals who need your votes are currently in the "Standby" section.  After forging rewards start, both sections will contain delegates seeking your vote.  Only those in the "Top Delegate" section are actually forging Lisk blocks and receiving rewards.

5. Click the check boxes for the people you want to vote for.  You may need to go to multiple pages / blocks of 25 delegates to find everybody you are looking for.  You can sort by name and rank to help find specific people.  You can cast up to 101 votes total, BUT ONLY IN BATCHES OF UP TO 33 AT A TIME.  So to cast 101 votes, you will have to do Steps 5 through 9 a total of four times (for example, 33+33+33+2).  The running total of check boxes you have clicked on are listed at the top of the webpage, just under the "Forging / Delegates / My Votes" link.  Keep an eye on this number and make sure it is 33 or less.  Unclick check boxes if you have to.

6. Click on the green "VOTE" link in the upper right of this webpage.

7. A window will pop up showing the people you are about to vote for.  If this list is OK, click "Confirm Vote".

8. If you have the second withdrawal passphrase activated in your account, you will be asked to enter it and click "Confirm Vote" again.

9. A green acknowledgement saying "Transaction Sent" will display briefly in the upper right corner of your webpage.  You just spent 1 Lisk to vote.

10. Repeat Steps 5-9 as required to vote for all of your desired delegate candidates.

Testnet needs new delegates. IMHO, we need to downvote 24 people and there are not 24 replacements.  

This is a timely issue as two new versions of Lisk will be run through testnet very soon.  

If you are interested in running a testnet delegate to gain experience and credibility for running a delegate in mainnet, come on over to http://lisk.chat and join us in the testnet channel.  

When you get there, send a direct message to joel, the community manager.  He runs a testnet node himself and can show you how to do it too.

You're welcome, joel. 

On to 700...

As I posted over on lisk.chat....

I agree that chasing ETC is a risky move. But the key is the hash rate, not the price. ETC has set their difficulty rate to only 16% compared to 100% for ETH. This is a brilliant move in the ETH/ETC chess game. The greed of the miners is pulling them to support the much more profitable ETC. Over the weekend the ETH hash rate started to drop and is continuing to drop, while the ETC hash rate is growing and continuing to grow. Better than one out of every 5 ETH miners at 100% difficulty is now running ETC at 16% difficulty and the slide is accelerating. If this holds up ETC will have the longer blockchain and so more legitimacy than ETH in the next 48 to 72 hours. Once that happens I think there will be a very sudden flipflop in price. ETC could go to $11 by the end of August, maybe even by the end of the week. Here are some key links to look at / and watch:

https://etherscan.io/charts/hashrate

https://stats.etherchain.org/dashboard/db/hashrate-evolution?theme=light

http://fork.ethstats.net

https://slacknation.github.io/medium/13/13.html

https://etherchain.org/statistics/miners

https://bitcoinmagazine.com/articles/how-the-great-ethereum-schism-can-end-well-for-ethereum-classic-part-of-1469905980

Another key point is that ETC has the power of being right. ETH / Vitalik promised to be immutable. They / he lied. That fact wlil sink in to people's minds over the next week or two.


If that's what it looks like to you, then you need glasses.

I wear Gargoyles.

Within 30 seconds of making this post, I will be selling a large quantity of Lisk at Polo.  Any good coin needs wide distribution among many people, and not hoarding by whales and dolphins.  A mass dump of Lisk coins to many buyers that have previously set their price in a fair and open market is a good thing!

I still believe Lisk is going to da moon... just not this week, or even this month.  I am not abandoning Lisk.  I still believe in Lisk.  I will continue to run my nodes on both mainnet and testnet.  I will maintain my balance in mal_dapp_fund to continue to support Lisk software development.  I still hope to become an Active Delegate at Lisk.  I intend to allocate 20% of any forging rewards I earn to mal_dapp_fund at 16339383223344816582L and support further Lisk software development.

However, I believe that Ethereum Classic has reached critical mass and is about to explode in price.  I figure I have lost at least $20K just thinking about this overnight and not pulling the trigger yesterday.  I hope to make a significant profit on ETC in the coming days and return to buy even more Lisk than I have now.  When I return, I will buy my Lisk back (and more!) at an even higher price from those who bought it, and give those future Lisk sellers their profit from the pool of what I hope to make on ETC.  

Wish me luck!

EDIT TO ADD:  

Bought 82795.7 ETC for 285.955 BTC at 0.003453742 each.  At the current Polo USD/BTC rate of 623.74, I have purchased my ETC at $2.15 each.

I posted what I have done here so there is no FUD.  As we say here in the American South, "Dis jus' bidness".  (This is just business.)

What's the current status of Lisk deposits to Polo?

You are welcome to attend the next Community Meeting at http://lisk.chat #general channel

Saturday July 30th 2016 6PM GMT+2 (That's 5PM London, Noon New York)

The official question list....

https://docs.google.com/document/d/14KcZqMHp_wfOkqCTXuP8F9fhwaMspIikKcAzg7Pa5p4/edit?ts=579802cb#heading=h.y6u7tq4edtu2

Lisk will be issuing 0.4.0 soon to deal with node sync issues.