Steem thought - Ethereum Reborn
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The rise of Ethereum....otherwise known as Ethereum Classic
Up until the moment of the Ethereum hard fork, Ethereum was Ethereum and had a well established market value. The moment after the hard fork, Ethereum had it's name stripped from it and an altered blockchain became Ethereum. The new Ethereum was assumed to have the same market value as the old Ethereum and the old Ethereum was assumed to be on it's way to becoming worthless.
How wrong could we all have been? Having witnessed the beginning stages of Ethereum's rebirth as Ethereum Classic, it seems obvious that this course of events had a relatively high probability of occuring. At the very least the value of each network was always likely to try to find an equilibrium reflecting the opinions of the wider Ethereum community over the forking debate. No-one can simply invalidate the market value of an established network and transfer all of that value to a new network. Certainly not without unanimous support.
If the market value of Ethereum Classic continues to rise, big investors and miners will have no choice but to hedge into Ethereum Classic. This will further cement the viability of Ethereum Classic and two competing networks will have been born that do virtually the same thing.
The argument between immutability and adaptability is a difficult one. My own opinion is that every case must be judged on it's own merits. Only where an alteration of past events and value transfer are likely to generate such debate and consequence.....i think it's only right that they should.
Quite interesting turn of events that dao hack caused. One thing is sure for today, etc only goes up! This is a rare occurrence in cryptos where everybody can win.
It is certainly interesting but i'm not sure everyone can win. Certainly those who are new to Ethereum (classic) will win assuming the value reasserts itself to anything like it's former value. Those holding new Ether and those who bought at the top of the old ether price or buying new ether now are at risk. I hope they can all hedge accordingly because it is a great shame when people believe in a network and are caught up in the risks of establishing new technologies.
Looks like eth price is falling with all this etc hype. Price of all alts are dropping, everyone is selling their alts cause of etc. Hype is trough the roof, eth holders should be concerned right now. Millions are being made.
while i was writing this price jumped from 0.0032 to 0.004
Indeed. Even though I wrote what I wrote above.....it's still a shock to see it happening.
Not good !
https://www.reddit.com/r/EthereumClassic/comments/4uo04k/leaked_ethereum_foundation_skype_messages_devs/?compact=true
what make ethereum classic bullish really strong Ben?
All these messages about Ethereum lately, have made me lose my confidence in it. I hope for the Ethereum team they can restore confidence but at this moment I put my eggs in the Steemit and Bitcoin basket.
https://steemit.com/minnowsunite/@jillstein2016/dbag-whale-named-neoxian-flagging-my-posts-just-to-troll-me
I took a small punt on ETC, let's see if its value gets closer to ETH...
wow its just drama after drama with ethereum i have known about bitcoin for years but just recently got into crypto-space. i invested in The DAO and its been nothing but an adventure every since. i just post an article about the rally on ETC. Your post seems to explain why.
https://steemit.com/cryptocurrency/@dasan-oneia/ethereuem-classic-market-on-fire
steemit still the best, because i dont know how to minning etc