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RE: BREAKING CRYPTO NEWS: Ethereum Classic has AGAIN broken all time highs today & now the $8 USD threshold. Every day in Crypto we are seeing HISTORY!
I am curious as to your support of ETC over Ethereum. Do you suspect similar development will center around ETC?
ETH just broke 80$ - I would take this as a sign the market is favoring the Ethereum chain. In my opinion ETC value is only driven by speculators and people who confuse it for Ethereum. The Ethereum Trust a prime example of this.
I have watched your posts and comments since I first found you on here. You are super sharp, I know that and like that about you so you likely know more than me hahahaha! See below:
1/ I do not really favour one over the other.
2/ I like to celebrate various milestones and accomplishments, I think the ETH/ETC community / split allows this also.
3/ ETH has multiplied by a factor of ~ 7 the last 5 mths. -- Amazing!
4/ ETC " " ~ 4 " -- Also amazing, not many cryptos can say that either!
5/ then there is the political/philosoph. split on backdating code like what happened w the DAO split.
6/ ETC has all the same coding and ERC compliant code, but at a much cheaper price.
7/ Nobody is discussing putting ETH in an ETF. I am not sure about the truth of your last point, it is definitely salient.... but I am not sure thousands of people in this space, are mistaking the 2. I think a few might.
Some people care about some of those, or all of them..... there are newbs reading our posts daily who are learning so these chats are always good to have. 12 mths ago, I knew hardly anything as compared to where I am now with everything.
I think this is a great rational analysis. I have many skepticisms with the teams running ETC much more than ETH; even if the arguments about controversy within the Foundation stand. I think a big take-away is they have diverged in features and will continue to do so more and more as the applications (like mediachain that will help power spotify or the system working for the UN today) become engraved in consumers. ETC coin supply was designed to look good to investors, they designed it ~ from scratch - talk about "code is law"... That said it is still earl y and that is clearly just my opinion. There is talented people working on both sides. I hope ETC will be able to adopt the sharding and other consensus mechanisms to allow for scaling. Same goes for Swarm and Whisper and Raden - i think they have this.
Now one more thing to note, I would argue there is some weirdness and insider trading, IMO, revolving around the single, deceptively named ETF. I would also say there is a lot of people trading things just because they are listed on exchanges; there are so many assets that fly around so fast whose traders have no clue what the actual use is for those "tokens".
Good discussion Kyle. You know a lot of stuff for sure. I appreciate your time and willingness to share and that helps everyone.
ETC has usually been 10% of ETH value, so it was severely underpriced in the last month when ETH had it's bullrun. Now it's coming back to its regular position behind ETH... I myself wouldn't jump into it at this point although it's nice to see my ETC coins double! :)