The RISE of ETHEREUM CLASSIC - A Black Swan Moment?

[Soul_eater_123]

Check it out here:

https://steemit.com/cryptocurrency/@thecryptofiend/the-rise-of-ethereum-classic-a-black-swan-moment

[qwizzie]

https://steemit.com/.... - whore posting, won't read  

well, that whore posting just made $250
nice article by the way, i would have upvoted it myself if i was on steem.

[jupiter00000]

https://steemit.com/.... - whore posting, won't read 

Are you attempting to articulate a complete thought? If so, it was over my head.

[monsanto]

and thus begins the crypto era of the Fork Wars 

[Soul_eater_123]

and thus begins the crypto era of the Fork Wars  

Someone needs to do a Star Wars poster photoshopped with the faces of the main characters from ETH/ETHC and call it Fork Wars or alternatively Ether wars.  Vitalik could be C3PO.

[tokeweed]

Wow!  Just read the news!  This is an unexpected development.  It looks like Vitalik has his hands full again and this time the problem was caused by himself and Classic Ethereum looks like it will be staying for a while.  But who is developing/maintaining it?  Are there a group if  volunteers of core developers to bring the project forward?  

[Alley]

So a chance to get back in at $1?  Sounds worth the risk to me.  I'm going to buy some.

[s1gs3gv]

The altcoin world doesn't need more uncertainty at the moment. ETC advocates are just bad losers and doing alts in general a disservice.

I propose we fork ETC and call it ETX and get Polo to list it too.

~LOL~

[tokeweed]

The altcoin world doesn't need more uncertainty at the moment.

If you're a Forked Ethereum supporter then yeah, you would tend to think this because Classic Ethereum will hurt your bottom line if you are looking to profit from buying and holding ETH.  But what 'uncertainty' are you talking about?  It isn't like the cryptocurrency scene will cause a global financial crisis.  So the Original Ethereum still has some supporters behind it, so what?

ETC advocates are just bad losers and doing alts in general a disservice.

How are they losers?  They're not.  They just disapproved of the shenanigans in the voting process and the  manipulation of Ethereum's community to make this hard fork happen.  I'm sure not everyone in the 'who's who' in Ethereum agree with the hard fork.  Gavin Wood is showing signs that he supports the original Classic Ethereum.

I propose we fork ETC and call it ETX and get Polo to list it too.

~LOL~

Go ahead.  No one's stopping you.  See what Vitalik Buterin did?  You may be joking but other more serious people could be thinking of doing more hard forks in the future.

Forked Ethereum is a precedent of what might come.  

[Soul_eater_123]

Wow!  Just read the news!  This is an unexpected development.  It looks like Vitalik has his hands full again and this time the problem was caused by himself and Classic Ethereum looks like it will be staying for a while.  But who is developing/maintaining it?  Are there a group if  volunteers of core developers to bring the project forward?  

Someone called Arvicco from the Russian community I think.  There is an interview here in Vitalik's own Bitcoin magazine:

https://bitcoinmagazine.com/articles/rejecting-today-s-hard-fork-the-ethereum-classic-project-continues-on-the-original-chain-here-s-why-1469038808

[s1gs3gv]

Forked Ethereum is a precedent of what might come.  

May a thousand flowers bloom. Good for BTC

[tokeweed]

Forked Ethereum is a precedent of what might come.  

May a thousand flowers bloom. Good for BTC

But it's not good for cryptocurrency as a whole.  It could (arguably) even hold Bitcoin back.  The uncertainty caused by Buterin could hurt us all as supporters whether you're a developer, researcher, entrepreneur or speculator.

[chichidori]

seen some trader saying its a ticking time bomb when you buy ETC but it a no doubt that you can double your bitcoin in the fastest way because of its roller coaster value.

[ArticMine]

...

But it's not good for cryptocurrency as a whole.  It could (arguably) even hold Bitcoin back.  The uncertainty caused by Buterin could hurt us all as supporters whether you're a developer, researcher, entrepreneur or speculator.

I agree. This sets a precedent that reaches all the way back to: Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto https://bitcoin.org/bitcoin.pdf. To understand why I am quoting the introduction to the above paper:

1. Introduction

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need.

A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third  party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.

[Soul_eater_123]

New Post Here:

https://steemit.com/cryptocurrency/@thecryptofiend/ether-wars-ethereum-classic-price-and-volume-reach-ath

[TrueAnon]

Now ppl want others to read/check their STEEM articles to make more money on ETH/ETC scam news LMAO!!!

[monsanto]

Now ppl want others to read/check their STEEM articles to make more money on ETH/ETC scam news LMAO!!!

Crypto... it's turtles all the way down.

[Soul_eater_123]

Kraken is adding ETC:

https://steemit.com/steemit/@thecryptofiend/largest-bitcoin-exchange-kraken-to-launch-ethereum-classic-trading

[Golftech]

Kraken is adding ETC:

https://steemit.com/steemit/@thecryptofiend/largest-bitcoin-exchange-kraken-to-launch-ethereum-classic-trading

how i wonder if this movement is for real or another pump and dump case from eth project, really annoyed me but if this one works well eth
will pump more and more, let see how far it can go.

[Tmdz]

Kraken is adding ETC:

https://steemit.com/steemit/@thecryptofiend/largest-bitcoin-exchange-kraken-to-launch-ethereum-classic-trading

how i wonder if this movement is for real or another pump and dump case from eth project, really annoyed me but if this one works well eth
will pump more and more, let see how far it can go.

With that announcement the price movement is due to the speculation that kraken will bring more trading, but all the eth holders there will instantly have ETC to trade.  That means a dump so time to consider again about buying in and gambling a bit when that happens.