ETC / ETH CLASSIC

[Anonymous No.23840952]

What's the point of this bag of shit? Does ANYONE actually hold this?

[Anonymous No.23840981]

It's the real Ethereum

[Anonymous No.23841050]

>>23840981
kek
As someone who acually was there due dao hardfork I remember real fear etc will end up as real eth (same for bch flipping btc)
It all seems like joke now

[Anonymous No.23841109]

>>23841050
I never said the real one will win though.

[Anonymous No.23841195]

>>23841109
I know
Im just saying newfags (95%+ of biz now) will never know that feeling or have any idea what acually happend
The feels man, right in the feels

[Anonymous No.23841203]

>>23841050
>>23841195
Thanks for the input oldfag

[Anonymous No.23841340]

>>23841195
Imagine if ETH did rollbacks for shit like harvest.finance or the Kucoin hack, the DAO was 100% nepotism because the ETH foundation was heavily invested, i'm certain of it.

[Anonymous No.23841414]

>>23840952
It will moon hard once ETH filters out poors and PoS kicks in. Miners will all shift to ETC since there's fucking nothing else to mine.

[Anonymous No.23841432]

>>23841203
NP
To answer Your question it was suposed to be real Ethereum chain that didnt rolleback shit for anyone
Turns out narrative was pushed by huge whales (Barry islbert and Greyscale for start no1 etc bagholders) that wanted to take over ethereum
>What We learned:
EVERYTHING is social consensus and "code is law" is meme and I mean everything: from 21 mil btc to hacking ethereum state it all can be changed there is no immutable code
>What I learned:
Just follow devs if you make long term "investments" in this shitshow, devs are only capital needed to prosperv over time
And by devs I dont mean few hired guns ofc

[Anonymous No.23841481]

>>23841340
I dont think its black and white like that
Yes dao hack was bad and psuhed by eth whales
But whole real ethereum narrative was pushed by other whales not with your best interest in my mind anyway and they lost
Also parity bug was as bad as dao hack if not worse 2y alter and reverting it failed that's sign of maturing imho

[Anonymous No.23841531]

>>23841432
Thanks for the tip.

It all sounds very jewish. I've been maxing eth for a couple of years now. Vitak is my one true love.

[Anonymous No.23841534]

>>23840952
It's Ethereum, but not meaningfully updated since 2016, it is technically the unforked version, and Ethereum as supported by the foundation, and the community, was patched up to restore ETH to the investors of The DAO, which was hacked.

What was The DAO?

Back in 2016, you couldn't do much with ETH except speculate. Then along came The DAO which was going to fund all kinds of new crypto projects in a decentralized way, and pay dividends to investors. Poloniex, the biggest exchange at the time, made it easy to buy into The DAO, just type in a number of ETH and hit enter. I bought in with 1000 ETH.

What happened?

A hacker exploited a vulnerability in The DAO smart contract and drained the funds. Probably shorted the hell out of ETH first, the price did indeed crash. Vitalik sprung into action and forked Ethereum, restoring funds to those who bought into The DAO, problem solved.

Then what happened?

BTC maximalists cried that this was a breach of the "immutability" principle of blockchain, and many of them who had criticised Ethereum, suddenly became huge fans of ETC, as the unforked version was now called. Barry Silbert in particular bought into ETC and promoted it heavily, it is suggested that this was to sow FUD and torpedo the Ethereum project out of existence (i.e. remove it as a threat to Bitcoin.) There are some who shill their ETC bags as the "better" Ethereum with higher upside.

What's next?

Well, ETC will basically be a proof-of-work clone of Ethereum. Maybe it serves as a testnet, maybe some low-key uses, some of the miners who will be shut out by ETH 2.0 will keep it alive. But for the most part, the consensus is that the Ethereum that is called Ethereum won the war. ETC has no community. There is no liquidity on it, and if there is to be an Ethereum-killer, there are many far better options, in every metric.

[Anonymous No.23841561]

>>23841050
I sold my ETC at 0.3 ETH, one of my best trades ever.

[Anonymous No.23841620]

>>23840952
The DAO hacker / founder of callisto / eternal seether about the ERC20 standard does

[Anonymous No.23841657]

>eth moves to PoS
>eth moons
>etc moons
Everybody wins

[Anonymous No.23841662]

>>23841531
wait the creator of ethereum looks like THIS?

[Anonymous No.23841670]

>>23841340
Not rolling back would have threatened the security of PoS (single known malicios person holding too much) was the narrative back then

[Anonymous No.23842049]

>>23841662
Hell yeah

[Anonymous No.23842206]

>>23841534
well, the hack and subsequent fork did prove all the "ideals" and pretty words behind eth are a meme, and that the "code is law" concept did not hold any water. it shows that cryptocurrencies are to banks what democracies are to monarchies, basically still a consensus but more decentralized. which means crypto is actually not trustless, which is supposed to be the whole point of cryptographic coins to begin with (in particular the distributed ledger).

to summarize, funds are not safe. they are subject to the whims of consensus.

[Anonymous No.23842280]

>>23841662
Why yes!

[Anonymous No.23842387]

>>23841534
Thnx

[Anonymous No.23842431]

>>23842206
Law serves the community. Essentially the community seceeded and reformed around a new law.

Ethereum was still in Homestead then, such a fork couldn't happen now.

[Anonymous No.23842701]

>>23842431
this is neither trustless (you trust a developer which dictates the law, and you trust the "community", the majority of hashing power, which is often a rather small group of people), nor decentralized (the developer and a small group of miners control the fate of the currency), so the whole point of cryptocurrency is lost

[Anonymous No.23843045]

>>23841414

Lmao

[Anonymous No.23843195]

>>23843045
It's inevitable, Anon. There's a fuck ton of mining hardware thrown on ETH only because it's the only profitable thing to mine. ETC is currently (though slightly) even more profitable than ETH currently is. Once that ability to earn is removed, miners are going to hop on to the next thing that works and is known: ETC.
>t. miner since 2012.

[Anonymous No.23843220]

>>23843195
Why should the liquidity follow the hashing power? And can ETC scale as a POW?