ETC Trading Volume on Poloniex is 3X ETH, almost 100k BTC in 24 Hours
The unbelievable demise of ETH, correlating to a steep rise in ETC, has taken place today. Most thought the ETH hardfork would go smoothly, until Poloniex listed ETC for exchange and miners kept on producing ETC blocks. ETC is now up above $2 and Eth below $11.
This sketch by @MadBitcoins on twitter pretty much sums it up:
It is not unbelievable, fungibility gives value to eth classic. There is no point in having a cryptocurrency otherwise, you could just create a regular currency and let those who have a stake vote to regulate it, you don't need bitcoin's technology for that.
whole thing is really interesting. There was this one ETH supporter (in China?) that said he would use his computing power to attack ETC miners. I dont understand technically how that can happen.
I wonder the same thing. It's scary to trade ETC at the moment, and I wonder if ETH can pull through.
The only thing I don't understand is that without a proper development team, how will ETC continue long term? And with the DAO attack still holding that much ETC, how can that adopt PoS mining?
2nd biggest coin in volume with 2x the 3rd place.
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