Ethereum Classic - Worth Buying???
Hola Steemos!
I've been thinking about Ethereum Classic for a while and have never made the leap and invested in any.
What does anyone see in this coin?
Looking at the charts I see little profit to be had by trading unless we get an unexpected spike up however we could also see a move down as well.
As a trader I find the volume in Ethereum Classic to be satisfactory but the current volatility is not big enough. It is simply not worth buying at 0.0068 BTC and selling at 0.0070 BTC. Too small a move.
If you plan to buy and hold this could be a good coin however if you plan to trade over the short to medium term this is one to avoid.
If you want a real answer, I think in the long run ALL coins will go up, regardless of what they are, the CLASSIC ethereum project still has a strong following, and when the coins first split , ethereum classic was maybe $1 i think, the price will continue to grow as long as people buy it, and that seems like it wont stop happening anytime soon. realistically all coins in the top 20 right now are good buys for the future, as it becomes harder to mine these coins and people stop selling, prices will logically only go up
True however I'm keen on coins for trading purposes not just for holding, while buying ETC to hold is likely a good buy I don't think the currency is very tradeable for the short term.
Not a bad point at all. My concern is more fundamental with ETC. Who us using it and why? We don't see Dapps built on top of it from what I can see. We're not buying anything with it. So what purpose does it serve? I just can't figure that part out.
If you look at Golem (no Dapps yet), people are crazy about it. But when you look at another similar coin Gridcoin Research, GRC, no one is giving a rat's ass about it (despite it already having real use and real-world contribution to science). And oh, GRC costs just 12.5% of a Golem token.
Yeah I agree there. I'm long Gridcoin and have been for a while because of what you stated... it's in use and being used for some great research projects.
Beyond that, and along the same lines, speculation is rampant within the ICO space, which are a series of promises based on whitepapers.
Still, I don't get the bullish appeal of ETC specifically, because it's not doing anything new. It's competing in the same space as ETH, because it is essentially the same coin, but without any real use cases that I can tell.
Thanks @retailtrader