The Ethereum Classic coin- The free market's answer to the hard fork?
The Ethereum hard fork situation has created a unique experiment called "Ethereum Classic" (please watch my video below to gain a better grasp of the situation). The old Ethereum blockchain is alive and the free market may end up deciding if it thrives. Survival depends on exchanges actually giving the people an opportunity to purchase Ethereum classic. There are many advocates of the free market out there so businesses that deal with selling/trading Ethereum should welcome Ethereum classic, especially ones that claim to share a way of thinking with the free market crypto-community. Let the people express their opinions about hard forks and perceived bailouts through cyrptocurrency purchases. Apparently Ethereum classic has gained some traction in the Russian speaking community. It will be very interesting to see how this plays out. As a pure speculative play (you are willing to lose everything you put into it, a gamble) Ethereum Classic is very intriguing. Steemit gives Steem dollar earners a unique opportunity to use what amounts to free money (earned by social media activity, but still not purchased with US dollars) in a speculative manner (if they choose) without lowering the balance of their fiat currency bank account.
@piedpiper posted a great interview with me! Check it out here!
Retweet this Tweet and ask Shapeshift.io to list Ethereum Classic.
So I had $100k sitting in the bank. I entrusted the account to my accountant to manage properly. She decided one day to give her boyfriend a blank chec, drawn on the account. He used it to buy a new car.
The ensuing legal issues and lack of capital caused my business to fail and 10 people to lose their jobs. To make matters worse her actions caused there to be insufficient funds in the account to make payroll during the pay period after Thanksgiving which means this jack ass and his girlfriend stole Christmas and more from about 30 people.
You're literally ok with him walking off with my hard earned money and all the fall out from that just because I hired his girlfriend to manage it?
That's what you're saying when you support this Ethereum Classic trash.
You're ok with a software bug allowing the theft of millions of dollars from unsuspecting people?
Wow you must be loads of fun at parties!
You're using this forum to support a scam coin and anyone who would even consider running it is saying, "It's ok to steal money because, code!".
Code isn't law, as much as our kind would like to think otherwise.
Contracts are between people not computers.
I'm upvoting this conversation for two reasons, firstly while I disagree with you this is a conversation that needs to be had. Secondly, I literally cannot understand the mindset of someone who would think that's a good idea and I really want to see how a mind like that works.
"You're literally ok with him walking off with my hard earned money and all the fall out from that just because I hired his girlfriend to manage it?" You interpret it that way, others say immutability trumps everything. I say let the people have a choice. Perhaps all the exchanges agree with you? I guess we shall see.
Clearly you missed my point. You personally are ok with theft? Because immutability?
It's your kids birthday; you're standing in line at Toys R Us and reach in your pocket to grab your wallet.
The man standing behind you grabs your wallet, takes the cash and runs off.
You tell your kid "Sorry hunny but daddy won't get you a birthday present today because finders keepers!"
That's all immutability is in this context, finders keepers.
The point of a blockchain is distributed consensus.
Consensus meaning we agree to these facts and these rules. This Ethereum classic is an attempt to support theft, plain and simple.
You want an ETH fork with a busted ruleset, then fine spin a new blockchain using the older code. But codifying theft and supporting a thief, makes you as much a thief as the pawn shop owner who accepts stolen goods knowingly with a wink and nod. People put their money and their faith in that system, you owe those people a duty of care.
No exchange can support this coin because accepting funds you know or suspect to be the proceeds of illicit activity has a name. Money laundering.
Don't just tell me that this is only "my interpretation". Explain to me how you can justify the theft of millions of dollars. How does this actually work in your mind? What is your logic and reasoning?
Reasoning and rationalizing are the only thing humans can do that machines cannot. I literally cannot reason or rationalize supporting theft because someone built software with a flaw in it and that flaw got exported. I mean why would you even want to run code you know is broken and encourage others to do the same?
This makes no sense, I'm literally standing here, mouth agape trying to figure this out.
Why do you support theft?
People invested in something that was very risky. They knew the risks or they should have thought about them at least. When dealing with any crypto you can easily end up with zero at the end of the day. Buyer beware.
Weather you like it or not, you should always follow the longest chain. Everything else is just a bad decision. Explained a bit here https://steemit.com/hardfork/@btc-dialog/the-hardfork-issue-explained-from-scratch-flexibility-vs-immutability#@knircky/re-famunger-re-btc-dialog-the-hardfork-issue-explained-from-scratch-flexibility-vs-immutability-20160723t211048820z
Thanks for the link! I will say that I did find an awesome quote in the comment section over there:
"Whether or not you believe in an immutable ledger, the fact remains, as long as there is competition in currencies, everything will be fine." That was the point of my video. Let there be competition. Let there be a free market.