ETC on Polo

[americanpegasus]

Silbert is all in:

https://twitter.com/barrysilbert/status/758394374216638465

Quadrupled down on my initial ETC investment. Moved ~5% of my personal bitcoin holdings to ETC this afternoon

Yeah Barry!  We'll go full Pegasus on this thing together.  It's good to be among crypto Giants in this thing.

[yefi]

They may be almost identical but they're completely different. One has the support of it's miners, investors, creators and developers, and the abandoned chain has only the support of a small part of speculators.

Considering that at least 20% voted against the fork, that is a rash assertion.

[iCEBREAKER]

ETC is gaining serious traction. It makes sense to hold some of it

ETC is open to double spend replay attacks and is barely mined so is highly unsupported and insecure. It's also about to suffer a serious 51% attack. Gud luck with that coinage.

And this is supposed to endear the community to ETH investors how exactly? The fact they can roll back the clock in pursuit of their precious investments and then blow the opposition out of the water at will?

Good luck putting that on a flyer. It's over.

Well said.

If Chancellor Butarin passively excludes or actively supports attacks on ETC, expect a mutiny within Team Vitalik as his devs either defect to Team ETC or (as is the actual case so far) pledge to support both branches and let users decide.

The investment case for ETH is weaker than for ETC:

What I realized so far is that a blockchain without a well-defined social contract will sooner or later face serious problems. At this moment, interestingly, the old "classic" chain is the one that already has a better contract. It’s the one that hasn’t been changed, but splitting off the majority of its value into a new chain changed its implied contract.

We can assume that whoever finds the old chain valuable believes that unintended contract behavior is no reason to fork. That chain will never face another crisis because of a similar event. On the other hand, ether holders of the new chain might still disagree if this fork was a precedent for all similar cases or just a one-time disaster fix that shouldn’t happen ever again.

-Zsolt Felföldi is an ethereum developer working on the Go implementation of the ethereum protocol, sometimes called Geth.

http://www.coindesk.com/tale-two-chains-ethereum/

1 dev!! ROFLMO

Check again.  Way more than "1 dev" now, including an original ETH co-founder.

Let's also note you have zero response to Zsolt's analysis regarding the superiority of ETC's investment thesis over VB's shitty TARP bailout fork.

SFYL.   

[solid12345]

Ow, i miss ETC train, i see yesterday ETC price is 0.0008 - 0.0009 and now 0.004. Is now still good time to buy ETC or price will go down again and i must wait price lower to buy?

DAO attacker owns about 10% of all ETC. You do the maths what happens next once he dumps.

Yes, dumping is obviously not the optimal strategy.  The DAO adversary is smart enough to know that.

https://www.reddit.com/r/EthereumClassic/comments/4uldjs/attention_dao_attacker_lets_make_a_deal/

tldr:  Better solution is to put the funds in a contract that funds an ETC Foundation and makes scheduled, manageably-sized bug bounty payments to the adversary.

I have a friend who recently made bank accumulating almost 10% of an altcoin that pumped huge on polo for a few weeks. He didn't dump it, he sold off slowly and no one was ever the wiser.

I don't get why people are any more scared of a thief with a huge supply vs some lucky schmo who accumulated cheap. Most huge dumps are market tactics to flush out cheap coins by someone who wants to be a bigger whale, but someone who legitimately wants out isn't stupid enough to kill their own market and all buy support.

[bbc.reporter]

Silbert is all in:

https://twitter.com/barrysilbert/status/758394374216638465

Quadrupled down on my initial ETC investment. Moved ~5% of my personal bitcoin holdings to ETC this afternoon

Is this true? He must know something deeper to make such a move. If other known people in the cryptosphere follow him that will mean that the original Ethereum classic will not go away. It will gain new core developers, more miners and more outside funding. Some people in the Ethereum for community may even go back to the original because of their principles.

[RastoMan]

Silbert is all in:

https://twitter.com/barrysilbert/status/758394374216638465

Quadrupled down on my initial ETC investment. Moved ~5% of my personal bitcoin holdings to ETC this afternoon

Is this true? He must know something deeper to make such a move. If other known people in the cryptosphere follow him that will mean that the original Ethereum classic will not go away. It will gain new core developers, more miners and more outside funding. Some people in the Ethereum for community may even go back to the original because of their principles.

He will also be happy that the DAO hacker can sell the stolen funds to him cheaply. He will be rich in ETC.

[kanoptx]

Hey, guys! If anyone doesn't really understand what's going on, here are 2 great guides to catch up with current events:

The DAO, the Hack, the soft fork and the hard fork

Ethereum Classic

[Febo]

115 millions ETC traded in last 4 days only on Poloniex.

Enough for 32 "DAO Hacker"s dumps.

[iCEBREAKER]

Be warned the ETC market is basically nothing and dying. Check coinmarketcap and http://fork.ethstats.net. Prince and hash rates are in free fall. Which means it's basically unsupported. Add into this the fact that on the 27th the original DAO attacker gets his 3.6million ETC from the DAO attack. HE WILL SELL.

You warning is nothing but FUD, not to mention factually incorrect.

ETC already has ~1/6 of BETH's hashing power, and f2pool is going to come online soon.

The ETC market is doing ~3X more volume than the BailoutEdition.

I should also mention BailoutEdition, being morally hazardous and trivially mutable, is wholly unusable for applications which require objectivity and permanence.

EG:  https://medium.com/@Stampery/why-stampery-supports-ethereum-classic-4c86ec7cca17

Why Stampery supports Ethereum Classic

When a transaction representing an event is included in a blockchain it has to be unmodifiable: nobody should be able to alter its content.

The transaction has also to be final: it should be impossible to delete or reverse it. Finally, a blockchain has to be censorship resistant: every transaction needs to be included in the ledger as long as it complies with the protocol.

At Stampery we don’t use a single blockchain: we use both Bitcoin and Ethereum. Having strong immutability is crucial for us, and thus we leverage the blockchain with the highest computing power (Bitcoin). But it’s also important to have low latency and redundancy, which is crucial in case a catastrophic event affects Bitcoin. And that’s why we also use the Ethereum blockchain.

And now, the fork: Why we do support Classic?

When the Ethereum hard fork happened we had no doubt: for the moment we are staying on the Classic blockchain.

Why? The answer is simple. For transactions to be final and unmodifiable, blockchains need to be immune to third party interference. This promise was completely broken by Ethereum. Hard forks should only happen when a catastrophic bug puts in danger the core values of the technology. In this case the consensus mechanism worked just fine. The blockchain was modified simply because a group of people lost too much money and they decided to bail themselves out.

This is completely unacceptable for Stampery because it creates a dangerous precedent. A powerful government might now decide to push for a hard fork that changes blocks in which we anchored data. They could claim “national interest” for doing so. Or a “too big too fail” corporation could force a fork because it wants to wipe all proof of some questionable process recorded on the blockchain. Because of this we prefer to anchor our data to a blockchain in which hard forks happen only when a protocol-level bug needs to be fixed.

#REKT

[bbc.reporter]

I pity Minecache. He is fighting with a losing side. The ideals and principles of a person in him that is attracted to the cryptosphere is corrupted by his master Vitalik. He is blind and does not see anything anymore because he has become blinded by money he will get in ETH trades. ETC is a threat in his profit making so now he is attacking it and posting anything even stupid things.

[RastoMan]

I pity Minecache. He is fighting with a losing side. The ideals and principles of a person in him that is attracted to the cryptosphere is corrupted by his master Vitalik. He is blind and does not see anything anymore because he has become blinded by money he will get in ETH trades. ETC is a threat in his profit making so now he is attacking it and posting anything even stupid things.

It is better to be a miner. You can mine and sell. You do not need to care about which Ethereum is better.