Ethereum Classic was hit with another 51% attack

[slackovic]

This is one of the main reasons why I do not invest heavily into smaller Alt coins. Some large mining operations can quickly swap some hashing power and perform a 51% attack, if they have to ..or.. if they have some hidden agenda. The $4,860 per hour is nothing to them, if they want to "kill" the competition.

One sustained attack, would ruin these smaller Alt coins/forks and we even saw some people trying to do that with Bitcoin in the fork war period. (renting hashing power to support a specific fork) 

But you can't generalize like that because not all small altcoins are PoW coins. Actually many of them are tokens on the Ethereum or some other network and you can't perform the 51% attack on them for $5.000 per hour.

[spike420211]

This project is not a scam

agree, it is not a scam, it just failed to be a successful project, there is no development, mining power is low and it is easy to make an attack to the network

it is a surprise for me that ETC is still within top 50 projects, not to mention that ETC was in top 20 few months ago, i expect that it will go down in the future, does not offer anything new, there is no projects that are implemented on this block-chain and active development is on a really low level

I think this is pretty revealing. Despite the fact that almost all exchanges abandoned ETS deposits, at least for now, plus 3 attacks in such a short time.
All this did not significantly affect the price of the coin, and the project continues its work. It certainly cannot be called a scam.

[(o)(o)ilikeboobs(o)(o)]

This project is not a scam

agree, it is not a scam, it just failed to be a successful project, there is no development, mining power is low and it is easy to make an attack to the network

it is a surprise for me that ETC is still within top 50 projects, not to mention that ETC was in top 20 few months ago, i expect that it will go down in the future, does not offer anything new, there is no projects that are implemented on this block-chain and active development is on a really low level

Yes, sure, ETC is like a phenomenon at the end of 2017. In addition to just exploiting and trading on exchanges with derivatives such as margin, future, ETC is not useful in the crypto community. Old technology, few users, few miners, and in the top 100 biggest market cap currencies. It's a dangerous joke, ETC has no potential in the future.

[beerlover]

There is a whooooole big difference between a scam project and a failed project but it doesn't change the fact that one of them is bad and the other is still just as bad. Scam ones are the ones we know, they just take your money and leave and do nothing they promised and they are basically leaving you with something you do not want but took your money.

On the other hand the results of failed ones are eerily similar, they do promise you stuff, take your money but also fail to deliver anything so you end up with something you do not want and your money gone. ETC is a big failed project, nothing small neither because it was super high at one moment, they got 51% attack multiple times in a row and right now we can easily say that they are a failed one, same result as scam but not bad people, just failed ones.

[wiss19]

Like seriously they allowed it to happen up to three times before they made up their mind to start looking for a solution?

Funny thing is that another 51% attack might take place as they are still looking for a solution, these people are joking around.

If they are serious about the business they are doing, immediately there was a first attack they would have quickly started looking for ways they are going to prevent further attacks, father rather they just kept cool until the third time. Those in charge of the Blockchain should always try to make sure that no mining pool will have up to 50% hashing power.