ETC VS ETH
$ETC has much more potential for growth than $ETH, no bubble, solid backing.
Today I decided to go long on ETC, so you should know I do own some now.
Why?
This tweet by Emin Gün Sirer:
Yes, I know he is talking about ETH, but that is not the point. The point is if the killer App is Tokens! then why invest in something that already has too many tokens. Why not start at the bottom with projects that have a lot of room for growth and the ability to add killer apps?
Although ETC was born out of Ethereum developers incompetency, I think I will give it a chance to prove itself. Another reason that prompted me to change my mind is the fact that soon we might have to deal with two Bitcoins and be forced to pick one over the other or accept both. UASF: user activated soft fork for Bitcoin will happen on August first.
Risks vs Rewards:
I know betting the underdog is a long shot, but also putting your money on a sure bet does not always work. But I do not regret losing my bet with @ned on the elections, to be honest if I knew he was a comedian I would have voted for him, covfefe.
Basic Attention Token (BAT): listed on Bittrex exchange, ICO price ~1500 SATS reached as high as 15K SATS before rolling back a bit. Collecting ROI and waiting on free coins is a great feeling. BAT has a lot of potential for future growth. Even vaporware like AMP reached 85k SATS at one point, and this is nowhere near that by comparison, but coin supply is very close. The AMP price even to this day is puzzling, it makes me think STEEM is way undervalued.
or Expanse... first ETH clone, still only at 24 mill marketcap...
Why is an ETH clone needed? Is it better than ETH in some way?
It's ideologically different. Code is law!
But for those people we already have ETC?
Vitalik met with Putin today... guys, i know these Russians and it might well be the end of ETC :)
Bought some Expanse recently. Definitely think it's undervalued and I like the Bonds app earning me a 12% return.
Expanse looks pretty good, I notice that certain coins definitely follow similar graphs. http://coinmarketcap.com/currencies/expanse/
There is a reason for the market cap. Support and development is worth a lot.
ETC has VC support, that others lack.
Quite clearly a scam...
For what is ETC even used for? I realize that ETH is all hyped up as a BTC killer but that's not gonna happen. And yes, Steem is highly undervalued since it's one of rare coins actually used for something besides pump/dump POLO adventure. Hope to see it rise much more than it is now by the end of this year.
Ethereum powers smart contracts and tokenized assets. There are many applications running today and many businesses building on top of Ethereum.
So the future of ETH is more tied with apps?
Apps are the entire point of ETH in the first place.
Yeah so ETH's future is Apps but also currency.... in a very unique way.
Well the value of ETH is really the POS and Gas in the network to run the apps. Yes it will be used as a speculative asset but more along the line of the incentive mechanism powering the Ethereum applications.
There are many "experiments" running today - all choked up on high gas prices and low transaction speed.
I would consider that inaccurate. 4Gwei gas is the norm now, even lower if you don't mind waiting 2 stinking minutes. I get confirmations in the next block with proper fees, a cent or two. Call them "experiments" all you want. What does ETC have running?
I'm not an advocate for ETC. The only real working decentralized application running on a block chain is steemit. It would not be possible to run this on ETH or ETC. Those chains have a long way to go technology wise to get on graphene's level. Speculation wise there is probably a pretty penny to be made in ethereum alts, but market cap doestot reflect intrinsic value. Steem does more daily tx volume than Bitcoin and ethereum combined and look at where it is. We have a huge bubble circa 1999 on the horizon, it will make us all rich, but unless ethereum solves the scaling problem it wont survive.
Well steem and ETH are very different blockchains with very different tradeoffs. Steem is absolutely not the only application running on a blockchain. Steem/graphene make serious tradeoffs to get the speed they deliver. There will always be tradeoffs for speed and security.
There are plenty of solutions to ETH scaling issues.
what security tradeoff are you talking about?
They have a small set of federated block producing nodes. This is much different than other consensus mechanisms and makes many tradeoffs on the security side to allow for fast transactions.
Look at the Mauve paper below for a better idea of what some of these tradeoffs are:
https://cdn.hackaday.io/files/10879465447136/Mauve%20Paper%20Vitalik.pdf
https://medium.com/@VitalikButerin/safety-under-dynamic-validator-sets-ef0c3bbdf9f6
https://medium.com/@VitalikButerin/minimal-slashing-conditions-20f0b500fc6c
What about bitcoins transaction speed and prices? WAY worse than Ethereum.
Bitcoin is the most valuable shitcoin on the market
Ethereum is not a ment to be a Bitcoin killer. Period.
It's not about what it's used for, it's about what it's not used for.
I agree.
Where oh where will all of those ETH miners go later this year?
:thinking:
They will mine HUSH ;)
I have since it was called Zdash, its a sleeper
We're gonna take it some neat places, I need to post more about the ones I've thought of the last week and update the roadmap!
Awesome, cant wait to hear more!
DDOS? JK
Golem ;)
I'm very interested in Golem
Golem is one of the most well known projects building on ETH. It is very popular and their first product version is coming public within two months.
Those who are very interested in Golem should watch this video:
Thanks, going to blog the video, thanks for the info.
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Thanks for the heads up on the date of the Bitcoin soft fork. Is that when it will split in two if it happens? How will that effect the price do you think? Perhaps the ETH-ETC split could be used as some sort of predictor. I know very little but would guess there would be a period of high volatility until the market decides which one it likes best.
You know way more than me. What do you think?
Aug 1st, from what I understand, doesn't necessarily mean a split for BTC, I think that is worst case scenario or perhaps if it does split it's temporary. But if the same thing happens to it that happened to ETC, I think, given the history of something like that goes, the newer version is the one to invest in. Could be a huge opportunity, what do you think?
I will write another post about the soft fork with more details.
Great. I will look out for it.
Everything needs it's time to get its justified attention, and sometimes momentum can change very fast! It's just like as it is in sports: when the leader loses his attention he becomes delicate for failure and when he sees his goal slipping too much tension's building up so that David passes Goliath in the end of the game!
I had two dogs, they were bros; from birth on one of them was very strong and tall and the other one was exact the opposite; but he was the clever one, he was the first to go upstairs without my help and he also was the first to jump into the car. The same I see in ETH and ETC, while the big might fail little brother, the unloved one will surpass!
despite the current undervaluation of STEEM covfefe
yes covfefe indeed :D
IDK how true it is, but some people messing around with google translate claim it means "I will stand up" in Arabic, which makes perfect sense in the context ;)
oh I saw so many meanings, to me it means even presidents make typos :D
Haha yeah, and particularly this president, tbh I don't mind because typos mean at least he himself is using his twitter, rather than a team
I disagree entirely.
Your certainly right about the token economy. Too bad that is happening on ETH right now. The token economy will be blockchain agnostic - let the ETH point stand as a metric of market assessment
You probably want to check out my comments on ETC here, lots of information not often discussed. Why Consensus: the tale of the two Ethereums
https://steemit.com/ethereum/@kyle.anderson/more-money-for-the-early-visionaries-why-the-eth-chain-is-so-successful-revisiting-why-consensus
One thing I agree on is it just makes you think how undervalued steem is! I was lucky to be a part of the ETH bubble in the past few weeks.
I love steem, but I've been looking into some people's opinion of inflation being a problem with Steem... what are your thoughts on that?
My worries as a trader is that some ETH supporters started to think of Tokens as the killer App and if that is the case, the argument for bubble grows stronger. What will be the equivalent of the SEC if ETH turns out to be nothing but an ICO platform. I know nobody want's regulations, but where is the self regulation? Who will make people whole when the bubble burst and 70% of these Killer Apps kill people's life savings?
I don't doubt the token bubble will pop. I can't wait. It needs to.
I'm still passionate about ETH for some of the reasons stated above. I think the market has agreed.
Let's see after the hype dies down.
I can not argue against anything in this answer. It all boils down to wait and see.
make people whole? why should anyone or anything do that? invest at your own risk like anything in life.
Yeah they are going to lose their money. They need to. Some people need to learn the hardest lesson. This is simple economics.
Yeah, I don't want anyone to come to harm. But, for any investment, people need to learn about it and use it in the context of proper portfolio sizing for their overall financial situation. Stocks, real estate, cash savings, crypto, whatever.
If we are going to advocate "something" (i.e. the government) is going to make us whole if we lose money on crypto then we are inviting government to regulate and control it - and kill it. Also, people need to get into their heads the lesson that the more dependent you are on the government the more at its mercy you are - a slave.
ETC it doesn't even have to be actually better project.. it only have to make enough people believe it ...
the crypto market is much more speculative than the stock market !
Try and research about the ETH hard fork.
Take a look at how and why Ethereum Classic has been created. Also about the massive Ethereum hack.
Some Bitcoin holders were not happy that Ethereum has been developed.