It seems the last couple of days of depressed value with ETC (ethereum classic) hanging around the 250K satsoshi mark are over. Currently the price (on Poloniex) is approaching 290K satoshis and rising.
The volume has consistently been very high and is currently over double that of ETH at about 17000BTC (vs 8300). Buy support on the ETC side is currently about 7500 BTC whilst for ETH (ethereum hard fork) at about 6800 BTC.
Is this a sign of another approaching ATH (all time high) for ETC? Could it be that ETC will soon be approaching the price of ETH? If that were to happen I think we would see a real crisis in confidence for ETH.
Whatever is going on there is likely to be a lot of FOMO (fear of missing out) creating volume.
If you want to get into ETC I would suggest waiting on a dip to reduce the risk of buying at the top of a pump (if it ends up being short lived).
We are definitely living through exciting times in the crypto-sphere! Have your say below.
Both eth and etc will fail due to the hard fork.
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It's possible. I hope not but this is crypto. Always prepare for the worst.
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there is still road ahead, etc team (if any yet) they really need to make some dev steps and then im sure in the near future there will be parity.
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Why would their be parity? Eth has 7x more hashing and all the dapps. Ethereum without dapps is a mediocre Bitcoin competitor as a currency.
ETH would be worth the ICO price at best if it had no dapps. ETC is ETH with no dapps and no hashing.
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You are delusional. The current hashrate 3640gh on ETH to 600gh on ETC and there is more moving from ETH to ETC. Right now the foundation and devs are spending big money on cloud mining contracts to keep the hashrate boosted on ETH. The fork happened a few days ago still... DAPPs will be cominng. Face it the Hardfork was a bad idea they lost face. As a large scale miner I voted with my 10gh+ against the HF. No way I will support ETH network again.
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Thanks for the ad hominem.
For those who don't know, Ethereum without dapps is just another crypto currency with no real reason to exist at all and no ability to compete with Bitcoin as a currency. Wrt delusions, here's how the actual dapp developers have responded and here are the projects that have announced for ETH:
Ethereum Foundation, Digix, Maker, Colony, AKASHA, ROULΞTH, Plutus, REIDAO, vDice, SingularDTV, Braveno, Etheropt, otlw, Etherdelta, Swarm, Gnosis, Augur, ownage
...that's basically all of them.
Stampery is the Bitcoin project that has announced for ETC. I follow and invest in many crypto projects actively and had never heard of it before.
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perhaps but you are quite wrong, all developers that make dapps can in 0 time put their apps to ETC too and most probable they will, so there is no difference in technology, ETC = ETH, but ETC is just cheaper right now.
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Are you invested in any dapps? I am. I am in 5 different dapp projects right now. The code can be ported with some effort. But what can't be ported is the actual company and business -- how it interfaces with users, the real world, offline assets, or how it ties into other ecosystems.
For an ETH dapp to interact with ETC is the same as an ETH dapp interacting with a whole different coin. So no, unfortunately you're wrong here. A dapp is not just a bunch of code. And ETH and ETC are not fungible -- they are separate chains and separate coins with different networks and economic and social consensuses.
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Stampery moved to ETC and talks of Augur as well. ETC will be the winning chain.
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Stampery is a Bitcoin project...
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Charles Hoskinson said he would make an announcement regarding an ETC team soon.
https://twitter.com/IOHK_Charles/status/758767933153615872
He also re-iterated his support for immutable blockchains.
https://twitter.com/IOHK_Charles/status/758781497297874945
He is one of the original ethereum team members so I think it is pretty much guaranteed that there will be a proper development team behind ETC.
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Note that Hopkinson has supported several crypto projects, Ethereum in 2014, Bitshares and most recently Lisk. He has been all over. There was mutually thrown shade the first time he left ethereum and the rumors were that he was upset they did not sell to a VC firm and keep more for themselves rather than ICOing to the public. They were rumors and no one really knows for sure.
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I know but as I have said before if ETC gets enough support it will have a team. Even if Hoskinson eventually leaves there will be others to take over. As long as the support and the money is there it will happen.
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But what exactly? If they actually do anything, they will break the links to ETH. The current plan is to just cup and paste everything the foundation does. Great. But all the dapps are on ETH and ETC is effectively a separate coin to any dapp operating on the ETH chain. So it will be a copy and pasted version of ETH with no dapps and 15% of the hash power. It's basically just a Bitcoin competitor as just a currency and it will lose to Bitcoin due to network effects. It's a coin to nowhere at this point.
Unless they decide to actually make changes to it and go in a different direction than ETH... But the ETC community is against that. Their goal isn't to do anything other than demonstrate their commitment to immutability and provide fodder for speculation. But what is the end game?
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@eeks If I knew the end game then I could make a lot of money!
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Disclaimer: I am just a bot trying to be helpful.
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Sooner or later we will see ETC testing new hights wait and see ;)
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That's what makes it so exciting.
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For some reason the price of Bitcoin has gone down so it takes more Bitcoin to buy ETC than it did yesterday. I think the ETC volume continuing to be ahead of ETH is a very bullish sign. Keep track of the hashrate ratio between the two. It seems to be a good indicator of the price ratio between the 2. I expects the ETC hashrate to increase.
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I've been surprised with the fall in BTC to be honest. I expected it to continue a gradual but sustained rise post halving. Just shows how difficult it is to predict things in crypto.
I also think the ETC hashrate will continue to rise. Don't get me wrong I don't think ETC will catch up overnight. It will take time - there is a kind of feedback loop involved here. As it gains legitimacy more people will get involved which will provide further legitimacy and then attract more people.
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The ETC volume has hit 18199 BTC now!
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Wow. So ETC price above 300K now, volume is at almost 22KBTC with ETH having risen to to 14K BTC volume. This suggests that some people are selling their ETH to get into ETC.
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Thanks.
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