Ethereum Classic > Ethereum

in ethereum •  7 years ago 

Ethereum Classic is better than Ethereum.

Now, before you go off flaming on this thread, understand that this is my opinion, and only my opinion, and that my opinion comes from a principled mindset. I refuse to see value in anything that touts one set of rules while obeying a different set. And of course, I'm referring to TheDAO and the resulting hard fork, the anniversary of which was just under a year ago.

The whole idea behind Ethereum before the fork was immutability on the blockchain. No program could ever be changed once it was deployed. Unfortunately, those at Ethereum Foundation -- and many of their large investors that had money stolen from them -- determined it was in the best interest of everybody (apparently) to undo the vulnerable program, TheDAO, on which they had invested, in order to restore their investments.

Basically, Ethereum Foundation ruined their credibility entirely. If Ethereum could fork to undo what was meant to never be undone by a program deployed on the blockchain, EVER, then what is to stop them from doing it again?

What effectively happened was that the free market -- the Ethereum blockchain -- was intervened by the government of that economy -- the Ethereum Foundation -- in order to change an outcome of an "immutable program" so as to prevent major investors from losing money.

This was a bailout.

Ethereum now, one year later, is still operating as if nothing happened. New ICOs are launched at unprecedented rates (and killing the Ethereum network during launch) and it has only skyrocketed the price of Ethereum since the beginning of the year.

Personally, and it may sound hypocritical, but some of these ICOs contain tokens actually worth investing in, and it's for this reason only I would recommend anybody hold any Ethereum over Ethereum Classic.

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