I was fooled by Ether Classic

[Phoenix_PROG]

Did Ethereum Classic just played me or what? I sold my rigs because they are good for mining Ethash Algorithm only and since Ethereum is going out of POW business this December and ETC announced that they are going POS algo as well why should I keep mining? Other Algorithm are bad on my setup and I just went ahead and sold the miners but guess what? Here is what I saw



What the heck? This sounds like ETC ain't going POS after all    this news is just released 16hours ago.

https://www.google.com/amp/s/cointelegraph.com/news/ethereum-classic-plans-thanos-hard-fork-to-restore-mining-with-older-gpus/amp

[1714663383]

1714663383

[Squezzi55]

Oh boy, sorry to hear 🙉 but there are some other coins that are using Ethash Algorithm just like ETH and ETC, you don't do research on that before selling your miners? That's a bad move pal you should have check out some other coins, I'm sure there are more Ethash coins out there, they aren't just popular like ETH and ETC

[TastyChillySauce00]

You should confirm it with the community whether that news was true or not. if that was true and then ETC will not go to the POS consensus. As far as I know, if this hardfork will be a solution to the 51% that was always happening with ETC.
Dude, the plan can be changed anytime. Yes ETC did it to you.

https://ethereumclassic.org/blog/2020-11-27-thanos-hard-fork-upgrade/

That's an official announcement by ETC.

[Squezzi55]

I just do the research for you, there is ELLA (Ellaism), Musicoin and Ether-1 too, they are minable using Ethash Algorithm, I can see through the news that 4gig graphics card will be supported for many more years, that's very good news for those who still have their RX480 and RX580, many are been sold off on ebay because they thought it's over for Ethash Algorithm, sad 😢

[Kemarit]

I'm sorry to hear that, unfortunately you have made your decision to sell. I don't think that ETC played you, perhaps it's just bad timing on your part because you thought that they are going out of POW business next month.

And no one really knows that they will change their mind and try to salvage those old mining rigs by having a "Thanos" hard fork, so it's really beyond your control.

[Apostlekin$$$]

I've known ETC team to be the bluffing types, if I was in your position I wouldn't believe a word from them, this isn't the first time they will turn back on their words, whatever is coming from ETC team shouldn't be taken seriously until they eventually do it, you've learned your lesson and also it's not too late to buy back graphics cards

[aemma]

If a team is of double standard, that is, saying one thing and doing another then it will be hard for them to be trusted as well as reducing their reputation in the crypto space. I do not have anything to do with Ether Classic neither do I know much, but I think at this juncture it would be wise for you to let go unless you have a passion for the coin, then you can go back and continue. Also, it would be wise as well to check from the team directly to be sure it is coming from them, this will go a long way in helping you know what to do.

[JHORN]

Judging from this news it looks like ETC will carry all the Hashrates from ETH miners soon and that can make ETC be more scarce and add good value too, I'm starting to guess that ETC sees this as a chance and they grab it instantly, very soon ETC will be the most profitable altcoin to mine, just a hunch


Next time make sure you take the doubts to the team themselves, ask them in their social group to be 100% certain if they are really going to switch algorithm or not

[Yudhisthir]

This only explains how unprofessional and indecisive the development team is. They are trying to copy and trying not to copy Ethereum all the time. That is just going to make them a bad version of Ethereum. Personally, I think sticking to pow is the best option for the project.
The damage is already done but they should try to fix and do the right thing.

[Cryptoangel01]

One sure thing around the space is the fact that misinformation can happen with the speed of light and can spread quite fast too. Hence the need and creation of telegram group by various project teams. It's to avoid this type of scenario where one act upon misinformation and misunderstanding. Next time do a better research.

[Festac]

ETC team released that news then because the felt they have to follow every path that Ethereum is going but I'm actually glad they decide to start taking bold steps themselves, atleast both ETH and ETC have different use case so why follow Ethereum around? And again OP you haven't lose out unless you sold your rigs at a loss price, many cheap graphic cards are available for sell on amazon, newegg and ebay at cheap price, try buying them back

[KaratX]

I guess it's your fault @phoenix_PROG, correct me if I'm wrong, I'm guessing you aren't following ETC Telegram group and social media group if not you would have been aware that the team decide to change their plan after they said they are going POS algorithm, it was just a guess at the time so it's not fully decided, why take action on something that's not 💯 approved?

[btc_angela]

Ah, the beauty of decentralisation, or shall I say centralisation, LOL. I guess you are either advance or late with the upcoming news about this so called Thanos fork of Ether Classic that's why you think you have been fooled by the people behind.

But I guess, no one is to blame here, you wanted to get rid of those old rigs because it is not making money for you. It's business at the end of the day, you could have made money already from the sales because the price of most Altcoins have been pumping, so it's a win win for you.

[Dariusburst]

Ethereum Classic team were still deciding to switch to proof of stake algorithm, there was no finally decision on that, before selling your mining rigs you should have seek for the teams and ask them directly, it was all under maybe they will change to POS or not, I hope you sold at better price? If yes then you can still buy them back, a lesson learnt here, when a news isn't officially finalized don't take it serious.

[btcltcdigger]

Yeah, i guess since ETH2.0 is launchin in couple of days, ETC decided to go to PoW since sooo many Rigs will be shut down for no longer mining eth.
It might be a good decision, price might go up

[joseyphil82]

ETC team are really smart   , they've decided to go proof of stake just because big brother (Ethereum) takes the lead too but now they decide to steal the whole mining hash rates of Ethereum to their own blockchain, ETC is in for a long ride on this one because price will never remain the same again, Bravo ETC, bravo👏 now all Ethereum miners will have to switch to ETC fully

[bitbollo]

I am not sure if its more profitable mine ether classic or just sell the mining equipment .
I mean it requires a lot of effort in setup and maintenance, plus there is always the risk of deflation investment (mined coins).
Considering that this is already a fork of another project (that is the well know Ethereum) I am not sure this is an unlucky solution...

[Bitbtc8]

I am not sure if its more profitable mine ether classic or just sell the mining equipment .
I mean it requires a lot of effort in setup and maintenance, plus there is always the risk of deflation investment (mined coins).
Considering that this is already a fork of another project (that is the well know Ethereum) I am not sure this is an unlucky solution...

Lots of effort for every newbies but not for someone like OP, once you are able to set up miners yourself it's forever going to be inside you like an hobby, it's really not a bad thing to mine coins and still become an investor or a trader, I did all three and I'm proud of myself, the profit from mining are low but they always come in handy, there is time for everything you know, mining season, altcoins season etc 

[Stanlo]

Did Ethereum Classic just played me or what? I sold my rigs because they are good for mining Ethash Algorithm only and since Ethereum is going out of POW business this December and ETC announced that they are going POS algo as well why should I keep mining? Other Algorithm are bad on my setup and I just went ahead and sold the miners but guess what? Here is what I saw



What the heck? This sounds like ETC ain't going POS after all    this news is just released 16hours ago.

https://www.google.com/amp/s/cointelegraph.com/news/ethereum-classic-plans-thanos-hard-fork-to-restore-mining-with-older-gpus/amp

No one fooled you mate it's your impatience that get you to this stage you are in presently, you should have hear the news from the team direct, there is probability that they have a change of mind and you don't notice it, if you've taken the questions to ETC team they would have surely tell you to hold, you made the choice yourself and now can either buy altcoins and hold or go back to your mining by repurchasing miners

[Doranile432]

I hope you buy altcoins after selling your mining rigs? That's what will make your every move senseful, if you've sold the rigs before altcoins start pumping few days back you must have make some good profits already, probably enough to get you back your mining rigs and enough to still invest? I need your feedback on this @Phoenix_PROG