Topic: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts - page 372. (Read 821107 times)

Well that is all just wrong

There is a print at will limit in cryptocurrencyes. A predictable emission without closed door meetings by some central planners whose decisions only benefit a few.

To some degree, ETH failed in this regard and ETC is trying to continue the legacy of what a cryptocurrency (and in this case a decentralised app platform) is supposed to be.

Atom plz remind us again why do you post here ?

In addition to what I posted above, a lot of folks seem to think because it's not 'fiat' currency, it's superior in some way. I'm beginning to question this assertion. Is there really any difference between 'virtual currencies' and paper 'fiat' currencies, as long as the 'decentralized cryptocurrencies' can be bought directly with fiat on any exchange anyway?? So, the assertion that cryptos are more 'the peoples money' is simply illusory. It is solidly connected to fiat currency at present...thus making it fundamentally as centralized as fiat itself...since there is a direct exchange system between the two...and cryptos do not have any more 'intrinsic' value than fiat (the faith we put in either one is essentially the same)...and determines their value as a medium of exchange...cryptos merely 'appear' different because they are in cyberspace. However, this amounts to little more than a Houdini like slight of hand making them appear 'safer' because 'authorities' can't reach them. But this is untrue. As long as fiat can directly 'buy into' cryptos, they are nothing more than the 'invisible man' of the financial system already in place (and subject to the same authorities via fiat 'buy ins')...just a mere switch from paper to 'electronic medium' changes nothing in any fundamental way.

I personally fell susceptible to 'blindly' throwing some money into the DAO.  I am a fund manager by profession and I still fall prey to emotion.  When I saw everything unfold I accepted it completely and knew the risk I had taken, there was no one else to blame but myself. I'm not bitter about it at all, we all make mistakes and invest in things we don't understand, but i've never come across a situation where people get a re-do on it.  That's new to me with my background in the Wall Street game.   


I think we will see resolution in all of this sooner rather than later, but I could be wrong.  ETH had that first initial blast off and then half a year went by before waking up again.  I think good or bad, big action will happen in this coin at a much faster pace -- for two reasons, people have memory of ETH and there is also a lot more money in this arena now even compared to 6 months ago.  Like I said, i've been glued to my computer the last few days through all of this simply because these moves happen so fast and they're big (in both directions). 



Pretty much! I considered not having a dog in this fight but with how boring things have been in the alt space lately and the time delays with Lisk i had an itch to get trading.  I figured if you were going to play homerun derby, I'd at least like to go to bat too.    Ideally this leads to being able to scoop up more lisk and further bolster the clan.

All those mining ETC should stop...it's just supporting the rich who 'bought into the coin'...your 5-6 coins a day is just supporting the chain so their bag of coins keep value. There are 1000s of etc 'bag holders' who never mined the coin, supported the blockchain, or cared about the real world use of the platform...do you really want to keep your gear running to make them richer?...any one of several thousand of them can crash the price on any exchange making your mining a waste of your energy. money, and time...to be fair, this can be said about a lot of coins...and profit is fine...but a bit of balance of distribution would be welcome...I half fear cryptos of all sorts will falter because of people just 'buying in low' and manipulating the price, while most miners are doing the real work and expense of supporting the blockchains that enable the already wealthy.

* this I think is a fundamental flaw in decentralized currencies...yes, big finance is not fair, but completely unregulated markets with only 'code' as law (which can be just bought into) lacks a sufficient basis for genuine capital security...for nations or individuals...like it or not, regulation of some sort is a necessary evil of any monetary system of exchange.

so it is on a survival stage, newbie question here it is possible to fall down then rises up back right, it seem to be the case for the past 2 days looking for it to bounce back keeping my coin in hands and let see if they can win and go to .01 value.

Hi, diplo!  Did you follow me into this mess?   

It's too early to say there's a patterns in this crazy market.  However, after two days there seems to be real market resistance to letting ETC drop below 0.004 BTC each, and the miners are definitely allocating hashes proportional to the ETC/ETH price ratio.  People are acting like they want ETC to stay around for a while.  Today, survival of ETC itself is the goal, and so far that goal is being met.  I think I will hodl for a while.  Silly me.



http://coinmarketcap.com/currencies/ethereum-classic/#charts :



https://slacknation.github.io/medium/13/13.html :
 

True dat.  Indeed, never invest in what you don't understand, either.
I wonder how many forked over countless sums into the ETH ICO not fully understanding what they were "investing" in?

Great PDF.  I remember the day Knight Capital's system went haywire, what a mess in the market; fortunes were made and lost in a matter of hours.  In the real world you don't get to reverse mistakes or bugs in the code.  The incident was highly unfortunate but these things happen.  You assume the risk as an investor in any of this (I personally lost $ in the DAO crash), even if the event is downright theft and not merely code error -- unless you're insured, you have no recourse. Never invest what you can't afford to lose, especially in crypto. Events like these serve as painful lessons but we can learn from them and systems will grow stronger as a result.  This is what happens in the natural world.

I'm really intrigued by how all of this will play out, it has certainly caused me to get a lot less sleep the last few days.  

Elaine Ou was the CTO of the Sand Hill Exchange, a blockchain-based fantasy stock market that was terminated by the SEC in 2015.  She is a leader in the Silicon Valley Ethereum group (http://www.meetup.com/EthereumSiliconValley/events/232438189/), which is quite large.  Now she's at the blockchain company Privacy Shell (https://privacyshell.com/) where her bio reads:  "A blockchain expert and PhD from Stanford University, Elaine works closely with Toufi and Dann on some of Privacy Shell’s crypto-blockchain innovations, as well as helping structure inventions, and architecting mission critical software. Before her PhD, Elaine attended Harvard and The California Institute of Technology." Here's her twitter and LinkedIn:  

https://www.linkedin.com/in/elaineo

https://twitter.com/eiaine

That PDF is hilarious I love it! It's funny cause it's true.

Yes. I have recently discovered her website and I find her very smart. She knows what she is talking about and knows what is going on in the cryptosphere. Is she part of the Ethereum development team and left because of differences?

Here's what happens when a DAO-like event happens In Real Life (IRL):

http://elaineou.com/wp-content/uploads/2016/07/forkyou-1.pdf

Spoiler Alert:  NYSE, NASDAQ and the SEC don't bail out individual investors.  (Only banks, but that's another story...)

And see this:

http://elaineou.com/2016/07/29/how-to-create-money-out-of-the-ether/

thanks for sharing will be reading it to know more details. good luck

One word. Bitfinex

Interesting article on the rise of ETC.  Maybe this was posted here earlier, but new to me. 

https://steemit.com/cryptocurrency/@whalepanda/what-happened-with-ethereum-usdeth-and-ethereum-classic-usdetc

Salvadore Dali and ETC... hmm. Is anyone thinking melting clocks or someone turning back time?

 huh...broken chopstix,salvidore dali,long stilts , huge elephants and long spindly legs eh?
your analogies there  are exquisite dude (ack,ack!). did you study with Confucius or some such nonsense?

Dat was fun. Lol