Ethereum Classic : The Death of A Crypto Currency
The misguided birth of Ethereum Classic was the result of the Ethereum hard fork in the aftermath of the infamous Daosaster. Any ethical person can understand the ethics driving the Ethereum Classic community when they chose to part ways after consensus was reached. That same ethical person should understand the Ethereum community could not let the thief walk with the stolen funds for the sake of immutability. This was a lofty ideal, and a bridge too far for most of the people who had invested money into Ethereum and the Dao.
A good number of Ethereum holders ended up with Ethereum Classic coins after the hard fork split the block chain. Many people viewed these coins as a nice little bonus, and cashed out at their high point, making some extra money. Others held onto their coins waiting to see what would happen. Ethereum Classic has gone from a high of slightly over $3 to a value that has more or less settled in around the $1.30 mark sometimes testing the $1.20 floor. With this downward spiral the bitter holdouts have begun what will be the great sell off, signaling the death knell for Ethereum Classic, which has clearly been on life support for some time now.
The point can be argued that crypto currencies are volatile in nature, and that prices commonly fluctuate. As such crypto currencies are not for the risk adverse. The fact that Ethereum Classic has been in a downward spiral since it was created cannot be argued. Indicators are good at this point the downward value trend will continue until Ethereum Classic is delisted for trading with little fanfare. Based on what we know; who were the winners and losers in the slow painful death of a crypto currency? Ethereum and the community that supports it have been the real winners in this struggle for life and death. The currency managed to survive its first real test much like Bitcoin did after the MTGox fiasco. That is truly something worth celebrating considering the potential that Ethereum technology offers to the world.
Not surprisingly exchanges like Poloniex, and CHBTC gained a lot from Ethereum Classic. It has been hypothesized Poloniex had more to gain than anyone from the Ethereum hard fork, and quickly seized the opportunity seeing a quick dollar to be made. People smart enough to sell Ethereum Classic when it was at it’s high point gained a little bit from the coin. The real loser in this chain of events have been the Ethereum Classic community, which gained nothing for their half hearted efforts except the creation of a coin that becomes worth less everyday.
There isn't much difference between ETC & ETH , it's like having two different yet same value notes for the same currency . This is putting off a lot of people and personally , wish not to keep up with Ethereum Anymore after the event
I wouldn't so quick to say that. you need to go back to the definition of what make a system valuable. As long as people use it, it has value. Of course there are the DAO hacker threat of dumping and the replay attacks. You can bother to read my post. I personally won't put my money in it.
Fewer people are using Ethereum Classic every day which has seriously effected the value. I think the DAO hacker making a donation of stolen Ethereum Classic recently to Ethereum Classic developers was a kiss of death for a very poorly performing crypto currency . I cannot not see Ethereum Classic and Ethereum surviving side by side. Ethereum has all of the developer support in addition to large community that can come to a consensus.
like much of the FUD this rant relies too much on butthurt and not enough on facts and understanding. For example: could you please tell me which exchange exactly is delisting ETC soon? hmm. ok. great attempt but next time you may want to brush up on your writing a persuasive essay skills. Starting out at the gate with bad feels is not going to win anyone over.