Is Ethereum Classic undervalued?

[puremage111]

I think Ethereum Classic will eventually phased off :/

Despite We have polkadot which can cross any type of blockchain together
However Ethereum still account for most of the Dapps/Transactions/Adoption compare to Ethereum Classic
Thus, i don't think it is undervalue

Perhaps ETC can go up in price, but it's value will be an obstruct because we have other better Blockchains

[leea-1334]

I would like to know What was the idea behind investing in ethereum classic is it because it has the name ethereum ? It is fork of ethereum which people don't use and is used only for trading . I don't see long term potential here.

You got it totally the opposite. Ethereum Classic is the original version of Ethereum,,, and Ethereum was the fork of it, or more accurately, the rolled back version of it after a hack that caused many holders to lose funds.

Unfortunately the majority of people agreed with the rollback and thus immutable blockchain became fantasy.

[Abiky]

I think Ethereum Classic will eventually phased off :/

Despite We have polkadot which can cross any type of blockchain together
However Ethereum still account for most of the Dapps/Transactions/Adoption compare to Ethereum Classic
Thus, i don't think it is undervalue

Perhaps ETC can go up in price, but it's value will be an obstruct because we have other better Blockchains

There are far better blockchains out there with greater scalability and better security than Ethereum Classic itself. What separates ETC from the original project (ETH) is the hard cap in supply. Other than that, everything else is the same. With all that's happened with ETC lately, I don't think it'll be able to reach new ATHs in price on its own. Only a bull market will allow ETC to reach a higher price in the long term.

Nonetheless, I believe that Ethereum Classic will turn out to be another failed project just like some ETH forks in the past. Unless the dev team does something to prevent further 51% attacks while at the same time provide innovation to the project, the cryptocurrency won't be going anywhere. If we base ourselves in both ETC and ETH's supply, then we could say that ETC is undervalued. Still though, it's not about scarcity but rather how useful and reliable a Blockchain network is. And so far, ETC has failed in providing a secure environment for decentralized transactions in the mainstream world. There are far better options to choose from such as Polkadot and Tezos with their constant development, innovation, and most of all, mainstream adoption. The market will ultimately decide which cryptocurrencies will stay and which will fade into oblivion. Just my thoughts

[uray]

Unfortunately the majority of people agreed with the rollback and thus immutable blockchain became fantasy.

Everything about Ethereum is a fantasy and you made it somewhat clear about what Ethereum classic is all about, it was a hardfork without everyone's consensus and so is the reason the ETC came into existence and this move proved that the developers do not care about consensus and they are taking decisions like a centralized entity.

What is the present situation of classic and what are the major developments going on and taking all that into account it is not undervalued.

[Geleve]

An uptrend have been expected from etc for more than 3 years. Especially when Barry Silbert was shilling Ethereum Classic. But even in big bull run, etc price did not move too much. So etc is kinda disappontment for many investors.

[Abiky]

Everything about Ethereum is a fantasy and you made it somewhat clear about what Ethereum classic is all about, it was a hardfork without everyone's consensus and so is the reason the ETC came into existence and this move proved that the developers do not care about consensus and they are taking decisions like a centralized entity.

What is the present situation of classic and what are the major developments going on and taking all that into account it is not undervalued.

People have different views about Ethereum Classic. Some say it has taken the right path by forking away from the original project, while others criticize its move. In ETC's early days, everything was just reds and roses. But as time passed by, the project became nothing more than just another copy of the original project. Whereas ETC devoted to its "Code is Law" mantra, now it's mirroring Ethereum by going in-par with the original project's developments. The dev team's excuse is to make ETC directly compatible with ETH. But this move makes ETC exactly the same as ETH. Why would someone want to use ETC when they can use ETH with an ample number of dApps to choose from? What sets ETC and ETH apart is the supply of coins in circulation. While ETC has a defined hard cap in supply of 210m coins, ETH has decided to remain with the original model of being inflationary (with an undefined hard cap in supply). The rest is just the same between both blockchain networks.

With so many smart contract platforms out there on the market, ETC's position could be threatened in the long run. The series of 51% attacks, and the lack of developer competence will lead ETC to its demise. A project like ETC would've been a viable competitor against ETH if developers would've acted quickly to protect the network against further disruptions (by adopting a mechanism like Merged Mining or a different consensus algorithm to counterattack efforts of a 51% attack). Technically speaking, ETC is undervalued. But that's not really the case these days. Time will tell us what lies ahead with the future of ETC as other blockchain projects take the world by storm. Just my thoughts

[Zemomtum]

Consistent 50% attack on ETC has made some people to stay away and beside, any fork always leave on the shadow of its parent. All Bitcoin forks has been looking at the BTC dominance from very far and none of them was able to get closer. ETC will also not be a differential.

[gwdf1]

An uptrend have been expected from etc for more than 3 years. Especially when Barry Silbert was shilling Ethereum Classic. But even in big bull run, etc price did not move too much. So etc is kinda disappontment for many investors.

It was the biggest disappointment for the alt holders, when the price of Ethereum Classic dropped form almost $ 31 to $5 and even lower. Therefore, many people simply lost their money and the hope that this crypto is really worth money invested it it. I pick other alts.

[emrecemsan]

Ethereum has never thrived after the classic fork. Consequently, its value has always remained low. In my opinion, even these prices are high. The value of this coin should not be more than $ 1. It has no extra features compared to Ethereum. It is a completely dysfunctional coin.

[Permonik]

Ethereum has never thrived after the classic fork. Consequently, its value has always remained low. In my opinion, even these prices are high. The value of this coin should not be more than $ 1. It has no extra features compared to Ethereum. It is a completely dysfunctional coin.

You can say it about many more coins, which are forks (but ETC it´s not a fork, it is original blockchain of ETH) like bitcoin cash, bitcoin gold, etc...

[Reatim]

I personally think that when ETH switches to POS that miners may well point their rigs at ETC and that in turn might push the price up.

I bought 20 ETC this week as at $9.50 AUD it seems relatively cheap as a long term investment

I would like to know What was the idea behind investing in ethereum classic is it because it has the name ethereum ? It is fork of ethereum which people don't use and is used only for trading . I don't see long term potential here.

Actually once Ethereum died then maybe this will be a potential Coin.
But like you?i don't believe it also that fork coins really has a good thing in the future,Like those coins that forked with Bitcoin on who's now i the bad shape also.
ETH classic ranking 32 https://coinmarketcap.com/currencies/ethereum-classic/ is now at 5% growth is still for me is not enough for this to be called next ethereum.

[Btra]

If we look into the exact value of the Etherem classic then it should be the same as the Ethereum price because of the fork it divided into two separate coins equally. So, we can say that it is now undervalued.

[Abiky]

Consistent 50% attack on ETC has made some people to stay away and beside, any fork always leave on the shadow of its parent. All Bitcoin forks has been looking at the BTC dominance from very far and none of them was able to get closer. ETC will also not be a differential.

Exactly. The constant 51% attacks will scare off many people from the Ethereum Classic blockchain. No one will take it seriously for day-to-day payments. Developers must act quickly if they want their project to succeed in the mainstream world. Otherwise, it'll fade into oblivion just like the rest of the ETH forks on the crypto/Blockchain space (with the exception of Ubiq and Expanse). I believe that ETC will turn into another "Litecoin" as its prices will stale on the market. ETC will only go up in price if Bitcoin goes all the way to the moon. But it won't be able to get on its own, due to the reasons mentioned earlier.

Which is why I think that ETC's current price on the market is NOT undervalued. I've changed my opinion, after seeing a series of events on the project. Unless developers start doing the right thing by adopting a new PoW consensus mechanism or relying on merged mining for Blockchain security, the ETC project won't be going anywhere. With ETH surpassing ETC in terms of mainstream adoption, I doubt anyone would be interested in ETH's sibling (which is ETC). There are far better smart contract options to choose from each with their unique features and use cases in the mainstream world. Polkadot, TRON, and EOS have what it takes to challenge Ethereum in the future. Ethereum Classic will slowly fade into oblivion as another clone of the Ethereum blockchain that's useless for the mainstream world. Just my thoughts

[bbc.reporter]

@Abiky. It was never going anywhere without the support of the original developers. Ethereum Classic, similar to Bitcoin Cash and others, I have never seen a project that forked without its original developers that became successful.

[BuNga_cute]

The attacks that occurred in July and August 2020 on the Ethereum Classic blockchain caused the hashrate to plummet,
and it is not certain how many ETC will be successful in double spend. Even though January 2019 Ethereum Classic was
also attacked and made the Ethereum Classic price plummet. With many attacks on the ETC blockchain network investors
have lost confidence in ETC, maybe this is the reason Ethereum Classic is undervalued. My advice now is not a good time to
invest in ETC, let the Ethereum Classic development team make improvements to their security first.

[bitcon]

If we look into the exact value of the Etherem classic then it should be the same as the Ethereum price because of the fork it divided into two separate coins equally. So, we can say that it is now undervalued.

It is not undervalued. We cannot say so (however, this is my personal viewpoint). Ethereum Classic is losing its positions simply because many guys stopped the hype around it. Suppose, it will be traded  in 5+/- 1 dollar limits during this year and in 2021.

[FanEagle]

Unfortunately we could consider it as much gone as possible, I know people think that it is possible for ETC to make a comeback but like you guys said it is impossible after all these 51% attacks. It is great that you changed your mind abiky because the price is not going anywhere, normally I understand the logic but it doesn't apply here.

If I saw a coin have a problem and if I see it as a onetime thing and not a long term problem and the price plummets a lot, I would get in as well thinking it is undervalued since it was a onetime problem and it will recover and go back to old days. This idea doesn't work in ETC because it doesn't have a path to recovery, sure some people may work on it but it is an abondened project that is destined for more 51% attacks in the future.

[Lanatsa]

If we look into the exact value of the Etherem classic then it should be the same as the Ethereum price because of the fork it divided into two separate coins equally. So, we can say that it is now undervalued.

It is not undervalued. We cannot say so (however, this is my personal viewpoint). Ethereum Classic is losing its positions simply because many guys stopped the hype around it. Suppose, it will be traded  in 5+/- 1 dollar limits during this year and in 2021.

We cant really expect that much specially on forked coins and just like what we are seeing on the current forked coin of bitcoin which is bch which isn't really that performing well too.

Even though it is a better version of the said mother coin or on where it did originated.It doesn't mean that the main support would just make out some transition came from
on the main coin.

We cant say being undervalued here yet prices always indicates about on the level of trust and support of the entire community with it.

[BChydro]

@Abiky. It was never going anywhere without the support of the original developers. Ethereum Classic, similar to Bitcoin Cash and others, I have never seen a project that forked without its original developers that became successful.

This made me chuckle, the original developer who made everything possible is a mystery and not related with bitcoin and as far as development is concerned your words are almost true as there are new terms coming out every now and then but whether these additions made any changes for the base concerns is to be reviewed but the price is moving higher.
That being said i do not expect Ethereum Classic to make any moves that would drop anyone's jaw seeing their valuation and that is the case with their development.

[Abiky]

@Abiky. It was never going anywhere without the support of the original developers. Ethereum Classic, similar to Bitcoin Cash and others, I have never seen a project that forked without its original developers that became successful.

Unfortunately, forked projects turn out to be a failure in the long run. They resemble the original project so much, that leaves them out of the spotlight. There are far better options than Ethereum Classic such as Tezos, Polkadot, and even EOS. With subsequent 51% attacks on the ETC blockchain, I doubt people will consider it a serious investment for the long term. The inability of developers to take action against such network disruptions leads people to lose confidence on the project. It's no wonder why most people in the mainstream world still trust ETH on top of ETC. The Ethereum Classic project will turn out to become a failed experiment in the long run. While I'm not quite fond with ETH's decision of rolling back the blockchain during "The DAO Hack of 2016", it's still the best smart contract platform in the world.

Nonetheless, anything can happen in this strange and bizarre world of crypto. If ETC adopts a new mechanism to protect itself against 51% attacks, it might gain traction once more. But in order to maintain demand on the market, the project needs to provide constant development and innovation. Originality is key for any project to stand strong in the mainstream world. I wish ETC would distance itself from the main ETH blockchain by adopting features not found elsewhere. At least, ETC adopted a new monetary policy which limits the total circulating supply of the coin. But it needs a little more "pizzazz" if it wants to stay ahead in the game. Given ETC's current state, I'd say that the coin is not undervalued at all. Just my opinion