[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 27 KB, 500x500, 1-nIUazw_u3KChCX89fLgLDg.png [View same] [iqdb] [saucenao] [google]
1400928 No.1400928 [Reply] [Original]

Daily reminder that ETC is the real Ethereum and the future of crypto

>> No.1400936

>>1400928
What function does Ethereum serve anyway?


Why would somebody use it instead of Bitcoin?

It seems to lack any utility

>> No.1400944

>>1400928
wtf is this shit now?

i told every one that i dont trust russkies

they say no anon its going to the moon look its up 10%

i said its a minor raise before it crashes to new lows

and now etc? the fuck

>> No.1400948

>>1400944
ETC is the real Ethereum, without shady russian little shits manipulating the market and hacking themselves so they can eliminate immutability and decentralization from the cornerstone ideals of the crypto community

>> No.1400967

>>1400936
I don't know bro. I don't know why anyone in their right mind would even buy bitcoin, let alone something that's such a mess.

>> No.1400982

>>1400944
exchanges love it, .2% of a 50k btc volume a day is 60k for no fucking effort

>> No.1400988

buy trumpcoin

>> No.1400998

>>1400936
Ethereum has "smart contracts" or DAPPs (decentralized applications). These are programs which are deployed to the blockchain and run exactly as they appear. For example, you could create a gambling contract which accepts X ETH, rolls a random number 1-100 and sends back x2 ETH if it's >50, 0 otherwise. Here the player can inspect the code before sending ETH and know that this contract won't scam him. To facilitate the same transaction over Bitcoin you must trust some third-party. While there are plans to bring similar functionality to Bitcoin, none exist yet.

mETHheads will scream about "DAPPs are the future of everything!!!". But central servers will always be more efficient so you really only want to use a DAPP if you require the decentralization (see: doing something illegal). The FBI can't come knocking your door down if the code is being run on thousands of computers all around the world.

The DAO (decentralized autonomous organization) was one of the first DAPPs. The idea was to be a corporation but instead of a small board of directors, thousands of investors world-wide could orchestrate things. Problem is, the morons who coded it left a huge vulnerability and an attacker managed to steal $40m USD worth of ETH from its reserves. The community went berserk and the developers (who owned large shares in DAO) organized a "hard fork" to forcibly redistribute the stolen coins back to investors.

Ethereum's very own website says:

"Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference."

The idea of hard-forking Ethereum to return stolen funds seems to run counter to the organization's entire mission statement and sets a terrible precedent for future contracts.

>> No.1401006

>>1400998
(continued)

Nevertheless, the community voted in favor and Ethereum was hard-forked July 20th. The "main chain" has returned all the stolen ETH but enough people stayed behind that refuse to recognize these changes and run their own chain in which the attacker is permitted to keep his coins. This alternate chain is Ethereum Classic (ETC). ETC is exactly the same as ETH, the only difference is the distribution of coins.

tl;dr: ETH is a fucking mess

>> No.1401048

ETH-Cancer Don't want none of this Ghost ETH the shills are pumping to the chuckleheads. Gonna be sad to watch all the bag holders go on suicide watch. Stay strong - stay on target - stay ETH - sell ETH-Cancer version for the free cash.

>> No.1401055

Russians are faggots who will literally kill themselves trying to hack or keep ddosing websites

>> No.1401061

>>1400998
>>1401006

Thanks, that is a useful summary

>> No.1401113

>>1400928
LOLZORG

So glad I dumped after the hardfork.

>> No.1401119
File: 142 KB, 640x1136, image.jpg [View same] [iqdb] [saucenao] [google]
1401119

nothing to see here.

>> No.1401124

There something I dont get.

If I had 50 ETH before the hardfork, do I have 50 ETH and 50 ETC now?

>> No.1401139

>>1401124
Yes.

ETC isn't worth as much though.

I had 600 ETH before HF.

I still have 600 ETH, and I sold my 600 ETC for about 1 BTC.

Not bad!

>> No.1401146

>>1401139
good job.. the folks who bought when ETC was at .007 must be on suicide watch now

>> No.1401152

>>1401048
>>1401119
>>1401119
I know things that you don't. Believe me: buy ETC

>> No.1401153

>>1401139
>>1401146

wowowow
People who buy ETC are PANTS-ON-HEAD-RETARDED

>> No.1401163

>>1401153
>cope

>> No.1401166

>>1401153
not entirely.. bought at .0011 and sold at .0014 fairly recently

where else can you see 15% gains in one day

>> No.1401233

>>1401166
everywhere

>> No.1401252
File: 226 KB, 468x345, 1467486373222.png [View same] [iqdb] [saucenao] [google]
1401252

a bit off topic but any miners here?

I finished my first ether mining in a pool after about a week and it should be in my geth wallet.

But after about 30 minutes it still isn't in. My ethereum wallet still shows 0.00 ether.

How long does it usually take? I'm pretty sure my node is synced too. Do I need to update to 8.0?

>> No.1401747

Is ETH classic pre-fork or after fork? Explain?

>> No.1401794

I wouldn't touch ETH or ETC with a ten foot pole.

>> No.1401816

>>1401794
You are clearly a man of good taste... Trumps are right up your alley