Ethereum Classic attacked again, do not invest

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: Permonik on August 31, 2020, 04:57:03 PM

Hmm I don´t think that is sinking. After the fork will be better than before.
And now I am mining more than 6x times more ETC per day than 1 month before! Almost 4USD per day per Vega64.

That's why you are still positive after all those attacks and proof of their vulnerabilities ?

Hope your Mining works will benefits as how you supporting this Coin mate Goodluck.

Quote from: Sy on September 02, 2020, 02:29:09 AM

3 attacks in a span of a month damn ETC is not at all safe for the moment. I am totally avoiding investing in ETC right now because I suffered some big losses during the first two attacks.

Not only for the Moment but in general,They cannot hinder the attacks that continuously bringing their name and project down?what Kind of team they have?not unless this is inside Job then this is more damn than outside attackers.

Sy

legendary

Activity: 1484

Merit: 1003

Bounty Detective

Quote from: dikobraz123 on September 02, 2020, 02:38:10 AM

If I understand correctly, in coming months the ETH will enter some sort of hybrid phase (mining + POS) of transition to ETH 2.0. It's reasonable to assume that part of the miners will leave ETH, and start mining ETC (and some other coins of course) - so the chances of 51% attack will be greatly reduced.

What you say might come true but something needs to be done for the time between because each round of 51% attack is somewhat destroying the reputation on ETC if you ask me.

dikobraz123

member

Activity: 88

Merit: 24

If I understand correctly, in coming months the ETH will enter some sort of hybrid phase (mining + POS) of transition to ETH 2.0. It's reasonable to assume that part of the miners will leave ETH, and start mining ETC (and some other coins of course) - so the chances of 51% attack will be greatly reduced.

Sy

legendary

Activity: 1484

Merit: 1003

Bounty Detective

3 attacks in a span of a month damn ETC is not at all safe for the moment. I am totally avoiding investing in ETC right now because I suffered some big losses during the first two attacks.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Quote from: SillyGirl on September 01, 2020, 03:29:31 AM

According to the charts of WorldCoinIndex the past 6month I don't think ETC is doing it to bad at all.

For me ethereum classic should cost less than a dollar, after those 51% attacks.

SillyGirl

jr. member

Activity: 147

Merit: 1

According to the charts of WorldCoinIndex the past 6month I don't think ETC is doing it to bad at all.

Crypto_lion

member

Activity: 630

Merit: 11

NEW MEDICINE:Faster, Safer, Smarter

I think this isn't the first time that ETC HAS suffered the 51% attack. I made a mistake if buying it just because it has the name ETH in it when I was a noob.Not gonna do it again.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: BlackHatCoiner on August 31, 2020, 04:59:22 PM

When will people learn that most altcoins suck...
Fools aren't those who mine them, but those who buy them.

There are stil lot of people who just buy and buy without doing some research or even knowing what they are buying, yes this is true.
Most of the people who are doing this are just being told by someone or some pump and dump groups. They are also those people who are really eager to earn an easy money, that's why when they are being get rekt buying some shitcoins, Bitcoin or other legit cryptocurrency will get blamed too, lol.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

When will people learn that most altcoins suck...

Fools aren't those who mine them, but those who buy them.

Permonik

member

Activity: 275

Merit: 11

Hmm I don´t think that is sinking. After the fork will be better than before.
And now I am mining more than 6x times more ETC per day than 1 month before! Almost 4USD per day per Vega64.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

Fun fact: despite the constant attacks on the network which clearly shows ETC is absolute shite, this garbagecoin, surprisingly, is still among the top 30 cryptos by market can on CMC¹ and #34 on Coingecko²

Another fun fact: Grayscale, the well-known digital currency investment company, has a stash of around $80M worth of ETC! that's over 10% of the circulating supply Roll Eyes

(info available on Grayscale's website)

when will the big boys realize this crypto is a sinking ship? Grin

1. https://coinmarketcap.com/currencies/ethereum-classic/
2. https://www.coingecko.com/en/coins/ethereum-classic

Desscount

full member

Activity: 1386

Merit: 101

ComboLabs

I have heard of the first attack on Ethereum Classic, and it made me stay away, especially now there is a second attack,
of course you have to be careful, I think selling ETC is now very wise, you have to think about it

Captain Corporate

hero member

Activity: 2156

Merit: 575

The first time it happened really told everyone to stay away from it, if a coin is vulnurable enough to get a %51 attack once, that is enough to convince you to get away from it and never looking back, that should have been the end of ETC all together but for some reason some marketing genious people convinced others that since it happened once they could trust it even more because they will be ready for the next one and it could never happen because they are now more ready than ever for such an attack.

Obviously this second one shows that they are not ready at all, and they will never be ready, what happened already happened and from now on another one could happen and another one after that, we would never know how many times it could happen over and over again, ETC is tainted and it will never become something everyone could fully trust from now on.

sempak

hero member

Activity: 1638

Merit: 505

I'm not too technical about this kind of matter but it seems pretty serious what could be the reason and effect of this attack as according to the article OKEx consider delisting the Ethereum Classic other than that what could happen to the Ethereum Classic? Will it affects the price of the Ethereum Classic?

bbc.reporter

legendary

Activity: 3122

Merit: 1492

This is for the 3rd time this month and it appears the attacks will not stop until it is dead. According to the article, a technology coordinator of ETC labs suspects something, implying that this might be a message by someone from Ethereum.

Image by comocomprarcriptomoedas.com

The Ethereum Classic blockchain suffered a 51% attack Saturday evening, its third such attack this month, noticed by mining company Bitfly, which also spotted the first attack on Aug. 1.

Stevan Lohja, technology coordinator at ETC Labs, in a private message with CoinDesk, said he finds the timing of the attack "very suspicious" as it came just a day after a meeting of Ethereum Core developers regarding "aggressive innovation" in the blockchain's proof of work.

The attack reorganized over 7,000 blocks, or two days' worth of mining, according to a tweet shared by Bitfly. The first two attacks reorganized 3,693 and 4,000 blocks respectively.

After the first two attacks, exchange OKEx responded by saying it will consider delisting the asset due to the network's severe lack of security. Coinbase also took drastic measures by extending deposit and withdrawal confirmation times for ETC to roughly two weeks.

Read in full https://www.coindesk.com/ethereum-classic-blockchain-subject-to-yet-another-51-attack

Topic: Ethereum Classic attacked again, do not invest (Read 170 times)