Is Ethereum Classic undervalued?

[Kisifer]

I also believe that after Ethereum will be no minable anymore, Ethereum classic will be popular, since all those rigs (470, 570, 580 etc) will need something to mine. We will see though.

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[optimisticcm]

Etc is very undervalued just like most of the other alts but i think it is better to be in brc and eth to take advantage of the first movers. After taking profit from them you can invest in your favorite alts.

[Abiky]

It turned out to be code is not law, it was a popular slogan for a while but historically it is proven that it cannot be the final word and we have seen that with the hard fork of ETH and the same theory is broken in bitcoin where the code of law is broken multiple times from the code of law written by Satoshi and hence there is no point in sticking to that slogan.

For ETC to be successful they need to have a solid plan on what they are going to do, store of value will not survive for long and that is the case with all the speculative coins without substance as investors are not dumb all the time.

Agree. ETC needs a solid plan if it wants to stay ahead of the game. The lack of marketing/promotion, and mainstream adoption, explains why prices are low on the market. With ETC's limited supply, it should've been worth more than Ethereum today. After all, the world's second-largest cryptocurrency by market cap has an undefined supply. ETH's inflation tells us that it should become less valuable over time. But so far, everything is going the other way. I guess that the crypto market is too "immature" nowadays. ETC has the potential to become a rock-solid smart contract platform where code is law. Unfortunately, the recent "Phoenix" hard fork has been a controversial one as it "broke" some smart contracts in order to remain as compatible to the main ETH blockchain as possible. At first, ETC was distancing itself from ETH in order to become the difference in the crypto space. But now, it's doing all of the contrary. Given that the project has not been standing firm to its ethos (which is "Code is Law"), it becomes no different that the original Ethereum (ETH). I doubt people will choose ETC over ETH anytime soon.

Nonetheless, crypto land behaves in strange and bizarre ways. There's a possibility ETC could reach higher prices in the future if the project returns to its "former glory". Everything depends on the dev team and the community whenever they want to make ETC reliable or not. Issues like the previously-mentioned hard fork, makes ETC much more distant from its competitors. With many competing smart contract platforms like EOS, TRON, Tezos, and Cardano, it'll be quite challenging for ETC to reach mainstream adoption at a large scale. Just my opinion

[Spaffin]

It seems to me that the question about the underestimation of Ethereum Classic is very difficult to answer. If you look at the fact that Ethereum will soon come to the PoS algorithm, then Ethereum Classic will not have any advantages. But if we take into account the recent statement of Vitalik Buterin that the merger of Ethereum and Ethereum Classic is completely possible, while it is quite clear from many reviews that most Ethereum Classic owners are in favor of the reverse Folk, with the corresponding exchange rate in ETH.

[qwizzie]

yes, ETC is so undervalued that it is constantly getting 51% attacked (even today, second time in one week !!).

Link : https://www.coindesk.com/ethereum-classic-suffers-second-51-attack-in-a-week

I am just glad i am invested in a Proof of Work cryptocurrency that has protection against 51% attacks.

Link : https://dashnews.org/dash-activates-chainlocks-51-attack-protection-becomes-most-secure-decentralized-currency/

[okala]

Ethereum classic has really lost it potential and ability to compete with other coins of it class. In 2017, it was one of the coins that give good returned to the holders but it seem that since 2018 ending it has been losing on both market capitalizations and pricing.

[unusualfacts30]

if etc wants to stay in the business it'll have to come with a solid plan. so far I am not seeing any of that. it can gain value when eth becomes unminable but that's a long shot and nobody knows what will happen by the time we reach that point. It is still a great investment but I find that it follows eth trail.

[nekonyun]

etc is an altcoin with a large marketcap and has a large community, very good for hodl for longterm, and also the price etc follows the price eth I think price etc in the future can reach 30$

[Abiky]

yes, ETC is so undervalued that it is constantly getting 51% attacked (even today, second time in one week !!).

Link : https://www.coindesk.com/ethereum-classic-suffers-second-51-attack-in-a-week

I am just glad i am invested in a Proof of Work cryptocurrency that has protection against 51% attacks.

Link : https://dashnews.org/dash-activates-chainlocks-51-attack-protection-becomes-most-secure-decentralized-currency/

Yes that's very disappointing. I wasn't aware ETC had so many 51% attacks over the course of its lifetime. I think it's probably because ETC is a very small blockchain network with a very low hashrate backing it. Developers are going to need to adopt some sort of "merged mining" (AuxPoW) or a multi-PoW consensus algorithm to prevent further network disruptions. Once ETH goes full PoS, miners might switch to the ETC chain. This will increase the network's hashrate, making 51% attacks much more expensive to perform on the Blockchain.

I admire what other projects in the crypto/Blockchain space are doing to "tackle" the issue of a 51% attack. DASH and Komodo have been doing a pretty good job about it. It's no wonder why ETC's price on the market is so low these days. Who wants to invest in a cryptocurrency with a limited supply like ETC if it's prone to security risks? As long as ETC remains highly vulnerable to 51% attacks, it won't be going anywhere.

All in all, I wish good luck to the ETC project. If Ethereum Classic delivers as promised, it'll survive for a very long time. Developers need to ramp up their efforts in order to make ETC as reliable and trustworthy as possible. Implementing protections against 51% attacks, should lead ETC towards the top ranks in market cap. But sometimes I wonder, why developers haven't done this yet? For once, I've thought ETC to be undervalued. But with what's happening lately, I take it all back. After all, ETC is not striving to be the "difference" by following the standards of "Code Is Law". Just my thoughts

[bbc.reporter]

@Abiky. There was another 51% attack on this on 2018 or was it 2019, where the hackers were also successful in the double spend.

I reckon that this coin should be declared dead for investors.

In any case, I should not be speaking. I am an Aeon bagholder hehehehehe.

[michellee]

I guess we will see it happen in the future, but I feel that Ethereum Classic is still undervalued. This coin can increase anytime, and while the price still at a low price, and it seems people have more interest in ethereum, the price still stable at a price now, but soon, the price will increase and break $10. We may not see any progress from the project, but we don't know yet, so it is better to wait for the next thing from the project. If the ethereum classic is not good enough to survive in the market, the coin will not stay for a long time.

Agreed with you it is very long to prove this that ETC has some use case still it is struggling to get succeed to catch the attention of the big companies like ETH but it looking very hard for this. It is very hard to tell what will happen in future if they will keep continue to make this ecosystem more user friendly and will bring something revolutionary than it has chance to become next big thing.

We can hope that ETC can benefit us, so that can help the price increase. ETC itself is still trying to survive and trying to lift the price slowly, and if there is an update or news about the project, that can make the price have a chance to increase more.

Ethereum classic has really lost it potential and ability to compete with other coins of it class. In 2017, it was one of the coins that give good returned to the holders but it seem that since 2018 ending it has been losing on both market capitalizations and pricing.

Even if ETC loses the potential from a few years ago, I think this coin still undervalued, and not many of us have these coins because it seems difficult to increase. But this season, when bitcoin price can increase and break $10k, I think this coin will have the opportunity to increase, especially if bitcoin price can back to $15k

[Dollar_Hunter]

If you think that Ethereum classic is undervalued, I think it's wrong, ETC has gone up 800x from the lowest price,
and now ETC is at $ 7, it's still quite expensive, but if you compare it to the All time high, ETC is still a good to buy

[Twentyonepaylots]

Ethereum Classic is great for investment, but unfortunately loses popularity by Ethereum. Making Ethereum Classic considered undervalued,
whereas Ethereum Classic has a large enough volume and also listings on several popular exchanges.

The only thing that the ethereum classic lacks of is the popularity, and yes just like any other coin that was name after a coins loses the battle from the original you know bitcoin cash , bitcoin diamond and bitcoin SV though they are upgraded version of bitcoin still they cannot possess what's with bitcoin. On top of that is the solid community behind the top rank coins, the core of the price is the speculation without it the price of the will just be as low as the number of supporters.

If you look at the actual trading chart
Ethereum Classic movement is quite good, the price is rising now. So investing in Ethereum Classic is appropriate.

It is impressive considering its status in the market, it has a good run for a year and I think the only pump we can achieve is yearly basis from the ethereum classic, that's a long hold for a profit.

[donlogan]

Not sure if it has been mentioned already here but ETC is highly vulnerable to the 50% hack. I think it's viability as a legitimate alt coin has been disproven at this point.

[Sy]

Not sure if it has been mentioned already here but ETC is highly vulnerable to the 50% hack. I think it's viability as a legitimate alt coin has been disproven at this point.

I agree with you, this was the second time ETC suffered from a 51% attack and the second time the money lost was huge. I was holding some ETC earlier but, ever since the second attack happened I decided to sell my coins because ETC is looking like a risky investment right now.

[Masyudhi]

I don't think Ethereum classic  can be underestimated now because ethereum classic dropped in rank on Coinmarcetcap probably very low interest in classical etherum, I hope it doesn't happen continuously

[BChydro]

yes, ETC is so undervalued that it is constantly getting 51% attacked (even today, second time in one week !!).

You have to see that there is not much interest in the coin and the network is often attacked because there is not much miners who could prevent the attacks and it looks like a dying coin as there is no development nor the developers are able to attract miners nor investors to make any major changes, if it goes like this the coin will not last longer.

[leea-1334]

yes, ETC is so undervalued that it is constantly getting 51% attacked (even today, second time in one week !!).

You have to see that there is not much interest in the coin and the network is often attacked because there is not much miners who could prevent the attacks and it looks like a dying coin as there is no development nor the developers are able to attract miners nor investors to make any major changes, if it goes like this the coin will not last longer.

Feels a bit sad for me as originally I had high hopes for ETC instead of ETH,,, and when you think about it the Classic guys were the true blockchain implementors of immutability not ETH. But 2 hacks in a week of 51% attacks? It just shows it is not secure enough (but reorganization happened anyway).

[Abiky]

@Abiky. There was another 51% attack on this on 2018 or was it 2019, where the hackers were also successful in the double spend.

I reckon that this coin should be declared dead for investors.

In any case, I should not be speaking. I am an Aeon bagholder hehehehehe.

Exactly. With two more 51% attacks taking place this year, it shows that developers have no interest in providing a solution against them. By now, Ethereum Classic should've had some sort of mechanism that would protect it from further network disruptions. Other cryptocurrencies like Komodo and Dash have taken the initiative to protect themselves from 51% attacks, so why the ETC project hasn't done so already? As long as developers don't care about the security of the underlying Blockchain network, ETC won't be going anywhere. I'd expect prices to go down the drain if this continues.

In the bright side, anyone can fork the ETC project in order to make a better version from it. That's thanks to its open source and decentralized nature. The competing hard fork could topple ETC's place on the market, if it manages to tackle the issues of 51% attacks while at the same time "honoring" its "Code is Law" vision. There are so many competitors out there on the market, which are far better than ETC nowadays. With ETC "mirroring" ETH in terms of smart contract compatibility, why would anyone choose it on top of the main ETH blockchain? I think ETC will have very low prices in the long term (even with its limited supply) due to its low mainstream adoption and high security risks. Unless developers and the community make ETC great again, the cryptocurrency will remain under the radar of many investors and traders alike. Just my thoughts

[Oilacris]

@Abiky. There was another 51% attack on this on 2018 or was it 2019, where the hackers were also successful in the double spend.

I reckon that this coin should be declared dead for investors.

In any case, I should not be speaking. I am an Aeon bagholder hehehehehe.

Exactly. With two more 51% attacks taking place this year, it shows that developers have no interest in providing a solution against them. By now, Ethereum Classic should've had some sort of mechanism that would protect it from further network disruptions. Other cryptocurrencies like Komodo and Dash have taken the initiative to protect themselves from 51% attacks, so why the ETC project hasn't done so already? As long as developers don't care about the security of the underlying Blockchain network, ETC won't be going anywhere. I'd expect prices to go down the drain if this continues.

In the bright side, anyone can fork the ETC project in order to make a better version from it. That's thanks to its open source and decentralized nature. The competing hard fork could topple ETC's place on the market, if it manages to tackle the issues of 51% attacks while at the same time "honoring" its "Code is Law" vision. There are so many competitors out there on the market, which are far better than ETC nowadays. With ETC "mirroring" ETH in terms of smart contract compatibility, why would anyone choose it on top of the main ETH blockchain? I think ETC will have very low prices in the long term (even with its limited supply) due to its low mainstream adoption and high security risks. Unless developers and the community make ETC great again, the cryptocurrency will remain under the radar of many investors and traders alike. Just my thoughts

This is actually good as dead and as mentioned about consecutive years of that 51% attacks which indeed signify that this project is going nowhere.If they do,then they do already make out their move on how to prevent
and solve it up.

When it comes on getting higher into its mother coin(ETH). I do always see that no fork-coin would really able to surpass on the coin on where it originated or where it had been forked.

Interest will really be not high that anymore compared into those early years that do have high hopes when ETC came out.This isnt something that they had anticipated with this project.