ethereum classic suffers 51% attack, but price barely affected

[bitmover]

When the 18th-largest cryptocurrency falls prey to a 51% attack, you’d expect it to make an impact on the coin’s short-term price movements. However, following a brief drop on Monday, the Ethereum Classic price is only performing moderately worse than its peers.

Coinbase Suspends All Ethereum Classic Activity

What was noticed by Ethereum Classic and CCN was later confirmed by Coinbase, which froze all deposits, withdrawals, and trading of ETC on its platform after determining that the issue was a 51% attack.

https://www.ccn.com/ethereum-classic-price-barely-moves-despite-51-attack/

One more small pow coin is suffering a 51% attack.

I believe only few coins, the biggest ones, should use pow. Those small projects are getting smashed by 51% like btg, vertcoin and now Ethereum classic.

I hope ethereum Constantinople will trigger a new wave of POS coins.

Ethrreumc classic may could even rush this a bit, as pow is clearly a problem for it.

[bob3772]

ETC isn't even that small of a coin. Relative to bitcoin and eth it is but compared to many others it's big. Why anyone thinking of creating a coin now thinks that POW is the solution is beyond me when there have been numerous examples of the vulnerability it faces. I think in time we'll see most moving away from POW.

[makishart]

ETC isn't even that small of a coin. Relative to bitcoin and eth it is but compared to many others it's big. Why anyone thinking of creating a coin now thinks that POW is the solution is beyond me when there have been numerous examples of the vulnerability it faces. I think in time we'll see most moving away from POW.

The problem is not in the POW but when you are facing the ASIC miners and they will be so easy to get the domination from the blockchain. BTG ever experienced with this thing but after blockcking ASIC and then it's fine.