[ANN] [ETC] Ethereum Classic: Immutable Smart Contracts

[Herp]

the Chinese market is waking up...lol...watch as what little value etc had left after the crucifixion last night... (puny as it's buy support is now anyway) get totally polished off by the Chinese dumping it like broken chopsticks...the only people buying are the whales who bought it at 5000 trying to prop it up on very long thin stilts....Salvadore Dali's painting The Temptation of St John..or somebody with those huge elephants on very long spindly legs....that would be a good new logo for the last few days of etc before it hits .0000006 btc....I might buy in at that point to keep it from being delisted on exchanges (the next move coming down the pipes)...

 huh...broken chopstix,salvidore dali,long stilts , huge elephants and long spindly legs eh?
your analogies there  are exquisite dude (ack,ack!). did you study with Confucius or some such nonsense?

Salvadore Dali and ETC... hmm. Is anyone thinking melting clocks or someone turning back time?

[MalReynolds]

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

[Herp]

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

One word. Bitfinex

[Caladonian]

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

thanks for sharing will be reading it to know more details. good luck

[MalReynolds]

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/

[bbc.reporter]

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/

Yes. I have recently discovered her website and I find her very smart. She knows what she is talking about and knows what is going on in the cryptosphere. Is she part of the Ethereum development team and left because of differences?

[Hueristic]

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/

That PDF is hilarious I love it! It's funny cause it's true.

[MalReynolds]

Yes. I have recently discovered her website and I find her very smart. She knows what she is talking about and knows what is going on in the cryptosphere. Is she part of the Ethereum development team and left because of differences?

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

[Diplo]

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/

Great PDF.  I remember the day Knight Capital's system went haywire, what a mess in the market; fortunes were made and lost in a matter of hours.  In the real world you don't get to reverse mistakes or bugs in the code.  The incident was highly unfortunate but these things happen.  You assume the risk as an investor in any of this (I personally lost $ in the DAO crash), even if the event is downright theft and not merely code error -- unless you're insured, you have no recourse. Never invest what you can't afford to lose, especially in crypto. Events like these serve as painful lessons but we can learn from them and systems will grow stronger as a result.  This is what happens in the natural world.

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

[2dogs]

Great PDF.  I remember the day Knight Capital's system went haywire, what a mess in the market; fortunes were made and lost in a matter of hours.  In the real world you don't get to reverse mistakes or bugs in the code.  The incident was highly unfortunate but these things happen.  You assume the risk as an investor in any of this (I personally lost $ in the DAO crash), even if the event is downright theft and not merely code error -- unless you're insured, you have no recourse. Never invest what you can't afford to lose, especially in crypto. Events like these serve as painful lessons but we can learn from them and systems will grow stronger as a result.  This is what happens in the natural world.

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

True dat.  Indeed, never invest in what you don't understand, either.
I wonder how many forked over countless sums into the ETH ICO not fully understanding what they were "investing" in?

[MalReynolds]

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 :
 

[MalReynolds]

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

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

[Caladonian]

so it is on a survival stage, newbie question here it is possible to fall down then rises up back right, it seem to be the case for the past 2 days looking for it to bounce back keeping my coin in hands and let see if they can win and go to .01 value.

[Atomjuice]

All those mining ETC should stop...it's just supporting the rich who 'bought into the coin'...your 5-6 coins a day is just supporting the chain so their bag of coins keep value. There are 1000s of etc 'bag holders' who never mined the coin, supported the blockchain, or cared about the real world use of the platform...do you really want to keep your gear running to make them richer?...any one of several thousand of them can crash the price on any exchange making your mining a waste of your energy. money, and time...to be fair, this can be said about a lot of coins...and profit is fine...but a bit of balance of distribution would be welcome...I half fear cryptos of all sorts will falter because of people just 'buying in low' and manipulating the price, while most miners are doing the real work and expense of supporting the blockchains that enable the already wealthy.

* this I think is a fundamental flaw in decentralized currencies...yes, big finance is not fair, but completely unregulated markets with only 'code' as law (which can be just bought into) lacks a sufficient basis for genuine capital security...for nations or individuals...like it or not, regulation of some sort is a necessary evil of any monetary system of exchange.

[Diplo]

Great PDF.  I remember the day Knight Capital's system went haywire, what a mess in the market; fortunes were made and lost in a matter of hours.  In the real world you don't get to reverse mistakes or bugs in the code.  The incident was highly unfortunate but these things happen.  You assume the risk as an investor in any of this (I personally lost $ in the DAO crash), even if the event is downright theft and not merely code error -- unless you're insured, you have no recourse. Never invest what you can't afford to lose, especially in crypto. Events like these serve as painful lessons but we can learn from them and systems will grow stronger as a result.  This is what happens in the natural world.

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

True dat.  Indeed, never invest in what you don't understand, either.
I wonder how many forked over countless sums into the ETH ICO not fully understanding what they were "investing" in?

I personally fell susceptible to 'blindly' throwing some money into the DAO.  I am a fund manager by profession and I still fall prey to emotion.  When I saw everything unfold I accepted it completely and knew the risk I had taken, there was no one else to blame but myself. I'm not bitter about it at all, we all make mistakes and invest in things we don't understand, but i've never come across a situation where people get a re-do on it.  That's new to me with my background in the Wall Street game.   

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 :
 

I think we will see resolution in all of this sooner rather than later, but I could be wrong.  ETH had that first initial blast off and then half a year went by before waking up again.  I think good or bad, big action will happen in this coin at a much faster pace -- for two reasons, people have memory of ETH and there is also a lot more money in this arena now even compared to 6 months ago.  Like I said, i've been glued to my computer the last few days through all of this simply because these moves happen so fast and they're big (in both directions). 

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

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

Pretty much! I considered not having a dog in this fight but with how boring things have been in the alt space lately and the time delays with Lisk i had an itch to get trading.  I figured if you were going to play homerun derby, I'd at least like to go to bat too.    Ideally this leads to being able to scoop up more lisk and further bolster the clan.

[Atomjuice]

In addition to what I posted above, a lot of folks seem to think because it's not 'fiat' currency, it's superior in some way. I'm beginning to question this assertion. Is there really any difference between 'virtual currencies' and paper 'fiat' currencies, as long as the 'decentralized cryptocurrencies' can be bought directly with fiat on any exchange anyway?? So, the assertion that cryptos are more 'the peoples money' is simply illusory. It is solidly connected to fiat currency at present...thus making it fundamentally as centralized as fiat itself...since there is a direct exchange system between the two...and cryptos do not have any more 'intrinsic' value than fiat (the faith we put in either one is essentially the same)...and determines their value as a medium of exchange...cryptos merely 'appear' different because they are in cyberspace. However, this amounts to little more than a Houdini like slight of hand making them appear 'safer' because 'authorities' can't reach them. But this is untrue. As long as fiat can directly 'buy into' cryptos, they are nothing more than the 'invisible man' of the financial system already in place (and subject to the same authorities via fiat 'buy ins')...just a mere switch from paper to 'electronic medium' changes nothing in any fundamental way.

[pjr77]

Atom plz remind us again why do you post here ?

[krile]

In addition to what I posted above, a lot of folks seem to think because it's not 'fiat' currency, it's superior in some way. I'm beginning to question this assertion. Is there really any difference between 'virtual currencies' and paper 'fiat' currencies, as long as the 'decentralized cryptocurrencies' can be bought directly with fiat on any exchange anyway?? So, the assertion that cryptos are more 'the peoples money' is simply illusory. It is solidly connected to fiat currency at present...thus making it fundamentally as centralized as fiat itself...since there is a direct exchange system between the two...and cryptos do not have any more 'intrinsic' value than fiat (the faith we put in either one is essentially the same)...and determines their value as a medium of exchange...cryptos merely 'appear' different because they are in cyberspace. However, this amounts to little more than a Houdini like slight of hand making them appear 'safer' because 'authorities' can't reach them. But this is untrue. As long as fiat can directly 'buy into' cryptos, they are nothing more than the 'invisible man' of the financial system already in place (and subject to the same authorities via fiat 'buy ins')...just a mere switch from paper to 'electronic medium' changes nothing in any fundamental way.

Well that is all just wrong

There is a print at will limit in cryptocurrencyes. A predictable emission without closed door meetings by some central planners whose decisions only benefit a few.

To some degree, ETH failed in this regard and ETC is trying to continue the legacy of what a cryptocurrency (and in this case a decentralised app platform) is supposed to be.

[Diplo]

actually, I was a ardent suporter of etc..but it's a rudderless ship...just a pop and flop after all...I might go and see if mining Bottlecaps or Hobo nickles is still around...

I'm sorry but this is incorrect; like much of what you've been saying.  You continue to further discredit yourself with your posts.

Vitalik and his team will be programming for ETC. Any work produced by them can and will be applied to ETC so long as it isn't code that censors transactions (ETC's primary criticism of ETH). Tone Vays explained this in the video by Chris Ellis posted in here by Mal I believe; I suggest you watch it starting at around 13:00 or jump to 36:00 to see what I've said above.  This is a major reason why it is likely ETC will stay around and may potentially grow much bigger than it is today.  The development team is ETH; it is not a rudderless ship as you claim.

[Mrpumperitis]

actually, I was a ardent suporter of etc..but it's a rudderless ship...just a pop and flop after all...I might go and see if mining Bottlecaps or Hobo nickles is still around...

I'm sorry but this is incorrect; like much of what you've been saying.  You continue to further discredit yourself with your posts.

Vitalik and his team will be programming for ETC. Any work produced by them can and will be applied to ETC so long as it isn't code that censors transactions (ETC's primary criticism of ETH). Tone Vays explained this in the video by Chris Ellis posted in here by Mal I believe; I suggest you watch it starting at around 13:00 or jump to 36:00 to see what I've said above.  This is a major reason why it is likely ETC will stay around and may potentially grow much bigger than it is today.  The development team is ETH; it is not a rudderless ship as you claim.

True , but if they decide to censor , i hope etc guys dont get to annoyed. The ETH devs can severe ties in many ways.
With so much hatred towards VB & others....why would etc want them anyway?
etc should quickly find a real face that is willing to lead the project, etc needs a team of devs with vision of where they want to take etc.
Stagnation will not help etc in anyway.
etc current philosophy of copy n paste, with anon leaders wont work imo