Ethereum Classic Catches Triple-Digit Gains During the Last Two Weeks!

Abiky

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Quote from: serjent05 on August 07, 2022, 05:54:44 PM

The information is already there for years now. We all know that the merging will incapacitate miners of ETH, surely they will possibly hop on ETC, and it always happens that hype will emerge when the event is coming near. We don't need any official statement on miners hopping to ETC, it is obvious. So basically we have years to accumulate ETC for this hype.

I wouldn't say "we have years to accumulate ETC for this hype" because ETH's PoS upgrade is right around the corner. Vitalik estimated that the "Merge" will happen this September. Once ETH becomes PoS, miners will quickly flock to the ETC chain, adding a positive effect over the coin's price within a short period of time. After that, ETC will dump back to what it's worth right now. Unless developers start making quality dApps, tokens, and/or services on the ETC chain, don't expect the coin to go all the way to the moon anytime soon. Just my opinion

yurez

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When the final update of the Ethereum network finally takes effect, miners with Ethash mining equipment will be forced to switch to other PoW blockchains in order to continue earning. ETC seems to be the most likely candidate at the moment and therefore we will see a lot of hype around ETC in the coming months.

serjent05

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Quote from: yazher on July 28, 2022, 09:40:33 AM

Quote from: asriloni on July 28, 2022, 01:50:20 AM

No doubt if that was happening with ETC. FOMO is real after merged announcement combined with the news that came from antpool. So many people are starting to put their money on ETC. it seems like that antpool has no chance to mine ethereum anymore in the future.
So many miners are starting to move to the ETC. i guess this is the impact caused by ethereum merged announcement and so more miners migrate to the ETC.

It seems like the legit reason why the sudden pump happened these few weeks, If only we have some information before this event, we would really make a decent amount of income but Damn! this whole process is decisive itself because no one really knows that it could happen sooner. Some news is not really clear so when the increase in the price of ETC is becoming clear the last week, there are more people investing in it because they see the movement of the price caused by the rumors is true.

The information is already there for years now. We all know that the merging will incapacitate miners of ETH, surely they will possibly hop on ETC, and it always happens that hype will emerge when the event is coming near. We don't need any official statement on miners hopping to ETC, it is obvious. So basically we have years to accumulate ETC for this hype.

Abiky

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Quote from: tokyohd on July 28, 2022, 12:10:38 AM

Ethereum classic (ETC) is six years old this month and it’s seen some significant gains during the last 14 days. In fact, ever since the penciled-in date for The Merge was revealed, ETC has risen in value alongside its counterpart ethereum (ETH).

While ETH has seen a significant double-digit 45.7% gain in two weeks, ETC has jumped 124.2% in that same period of time. Despite the 124% rise, year-to-date, ETC is still down 34% and around 80% lower than the crypto asset’s all-time high at $167 per unit.

Full Details:
https://news.bitcoin.com/ethereum-classic-climbs-124-in-2-weeks-hashrate-spikes-krw-captures-20-of-etcs-trade-volume/

It's all about hype. ETC doesn't have quality dApps nor tokens that would challenge the main ETH blockchain. Even though the latter will become less-decentralized, it'll still be the preferred choice of traders and investors because of its solid ecosystem of dApps, tokens, and services around it. While it's likely miners from ETH will switch to the ETC chain after the former becomes a full-fledged PoS coin, that doesn't mean ETC will sustain its prices for the long term. Only utility/mainstream adoption will drive it towards non-stop success.

If developers started building dApps/tokens on the ETC chain, then it would prove to be a real challenger against Ethereum (ETH). At least, both cryptocurrencies are open source. As long as decentralization prevails, we should have nothing to worry about. Just my opinion

asriloni

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Quote from: ?? on ??

I regret selling etc too fast, I sell when the price is around $ 25, if I be patient I have greater profits than when I sell, now the price is around $ 36 and today rises more than 10%, it seems that the etc trend will continue to improve, good things If we hold and be patient.

People didn't even predict such announcement but if you have made big profits and there's nothing wrong with it. In my opinion that if you have another chance to invest in another token. There are so many tokens in the market that can give you bunch of profit again like what you have gotten from ETC. As long as you earn profit and that's good.

Grim149x

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Omg thats why iam thinking of terra classic today its good to invest terra classic and hold it in 6years and more like ethereum classic ? Do you think its worth it to invest in terra classic like ethereum classic? What do you think guys??

Xal0lex

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The most important thing in all of this, if you buy ETC, is not to view it as a long-term investment, hoping that growth will continue in the future. As soon as the hype around the ETH merger passes, as soon as the PoS network normalizes, ETC will also be quickly forgotten. In addition, you should consider that after the merger some of the hype and liquidity from ETC will be taken away by various new hardforces. They will be promoted by various exchanges and major miners, and on that background the crowd will pump those tokens.

Tessyb

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Ethereum classic seems to be traded far lower than ethereum and that has made several persons see the coin or project as inferior to ethereum. I learnt that ethereum was coined out of ethereum classic, but still wander while ethereum classic has chosen to be static why ethereum is going higher.

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Quote from: zasad@ on August 04, 2022, 05:25:30 AM

...Being a big miner doesn't mean you can fork the biggest ecosystem in the crypto market.

Indeed, in order to make a fork of the largest Ethereum network, you do not need to be a major miner, since anyone who has the relevant knowledge can do it. To do this, you need to copy the open source code that is available on Github and make changes to it. If the fork of bitcoin has been made dozens of times, then I am surprised that it has not taken a massive character for Ethereum.

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Quote from: justdimin on August 04, 2022, 09:22:38 AM

Quote from: Sayeds56 on August 03, 2022, 04:16:14 AM

Quote from: exoncenter on July 28, 2022, 05:17:15 AM

As Vitalik sais - ETC is a good coin for PoW) So you can understand that all ETH PoW lovers will jump into ETC.

ETC is one of the oldest coin and has maintained its rank in Top 20 coins on coinmarketcap. The Ethereum merge in September-22 (which has compelled miners to switch to ETC) is behind current hike as well as investment from Grey scale and Antpool. Technically speaking ,the current price of ETC is around $37 and next resistance is at $43 which is very strong. I think we should not jump in at current price and wait for it to go above $45 then it can make further gains. DYOR

The amount of price it will go up is not based on the mining alone. Because, miners may mine it, but miners will also sell it to cover their bills as well. If you are making 2k dollars per month profit from mining ETC, that means you will probably pay 1k of that to electricity alone, and that means you will have to sell your ETC to make that back.

I am not saying that it would make sense to just stop, of course you have to keep going, but ETC will not profit from this as much as people think. There isn't any added new reason for people to "buy" ETC, but if miners switch here then there will be an added reason to sell it which should hurt the price more than it helps.

What you're saying is the same as most investors have in mind. Miners can't just justify the price of their mined coin with diff, how much electricity they are paying, and how much money they have put in their rigs. No, you can't do that, demand a higher price for that coin when there is no increase in coin use case and users behind it. ETC is far behind ETH in that term. I doubt it could grow to x10 of its price now thanks to diff increase.

tvplus006

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Quote from: justdimin on August 04, 2022, 09:22:38 AM

...I am not saying that it would make sense to just stop, of course you have to keep going, but ETC will not profit from this as much as people think...

We can definitely say right now that the hashing power will increase in the ETC network, since many miners, after switching ETH to PoS, will be forced to switch to mining ETC. This is what will prevent hacks in the future, including using a 51% attack, which we have repeatedly seen before.

justdimin

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Quote from: Sayeds56 on August 03, 2022, 04:16:14 AM

Quote from: exoncenter on July 28, 2022, 05:17:15 AM

As Vitalik sais - ETC is a good coin for PoW) So you can understand that all ETH PoW lovers will jump into ETC.

ETC is one of the oldest coin and has maintained its rank in Top 20 coins on coinmarketcap. The Ethereum merge in September-22 (which has compelled miners to switch to ETC) is behind current hike as well as investment from Grey scale and Antpool. Technically speaking ,the current price of ETC is around $37 and next resistance is at $43 which is very strong. I think we should not jump in at current price and wait for it to go above $45 then it can make further gains. DYOR

The amount of price it will go up is not based on the mining alone. Because, miners may mine it, but miners will also sell it to cover their bills as well. If you are making 2k dollars per month profit from mining ETC, that means you will probably pay 1k of that to electricity alone, and that means you will have to sell your ETC to make that back.

I am not saying that it would make sense to just stop, of course you have to keep going, but ETC will not profit from this as much as people think. There isn't any added new reason for people to "buy" ETC, but if miners switch here then there will be an added reason to sell it which should hurt the price more than it helps.

zasad@

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Quote from: tvplus006 on August 04, 2022, 05:01:27 AM

Quote from: zasad@ on August 03, 2022, 08:07:11 AM

Quote from: tvplus006 on July 28, 2022, 06:06:15 AM

Everything may change if Chandler Guo plans are implemented and we see another fork of ETH. Chandler Guo: "We will fork ETH，you will get free cash" - https://twitter.com/chandlerguo/status/1552380346385289218?s=21 In this case, the released capacity after the transfer of ETH to POS may remain in the new ETHPOW blockchain.

...He will not find even 5% of the required number of developers, so the project is doomed to scam.

Considering the fact that Chandler Guo is not a beginner in mining and back in 2016 and had one of the largest ethereum mining farms, in the end he turned out to be a supporter of the hard fork and supported ETC. So don't underestimate its potential to gather developers for the next Ethereum fork. Therefore, we will definitely see EthereumPoW (ETH) coin, especially since support from Poloniex has already been announced, which will be the first cryptocurrency exchange to support ETHW" - https://twitter.com/EthereumPoW/status/1554629601539723264

After all, BTC has a huge number of forks that do not compete with it. Accordingly, ETHW may simply become the second fork of ETH, which we will not remember anything else.

I found this information on the exchange website
Poloniex supports & lists Ethereum (ETH) potential hard fork tokens
https://support.poloniex.com/hc/en-us/articles/7911509585559

https://etherscan.io/address/0xa071Fc107ade6e643AFC2A18CD53Aa9E1d879fFD
This story of begging surprises me. Being a big miner doesn't mean you can fork the biggest ecosystem in the crypto market.

tvplus006

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Quote from: zasad@ on August 03, 2022, 08:07:11 AM

Quote from: tvplus006 on July 28, 2022, 06:06:15 AM

Everything may change if Chandler Guo plans are implemented and we see another fork of ETH. Chandler Guo: "We will fork ETH，you will get free cash" - https://twitter.com/chandlerguo/status/1552380346385289218?s=21 In this case, the released capacity after the transfer of ETH to POS may remain in the new ETHPOW blockchain.

...He will not find even 5% of the required number of developers, so the project is doomed to scam.

Considering the fact that Chandler Guo is not a beginner in mining and back in 2016 and had one of the largest ethereum mining farms, in the end he turned out to be a supporter of the hard fork and supported ETC. So don't underestimate its potential to gather developers for the next Ethereum fork. Therefore, we will definitely see EthereumPoW (ETH) coin, especially since support from Poloniex has already been announced, which will be the first cryptocurrency exchange to support ETHW" - https://twitter.com/EthereumPoW/status/1554629601539723264

After all, BTC has a huge number of forks that do not compete with it. Accordingly, ETHW may simply become the second fork of ETH, which we will not remember anything else.

popeye95

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Quote from: zasad@ on August 03, 2022, 08:07:11 AM

Quote from: tvplus006 on July 28, 2022, 06:06:15 AM

Quote from: asriloni on July 28, 2022, 01:50:20 AM

No doubt if that was happening with ETC. FOMO is real after merged announcement combined with the news that came from antpool. So many people are starting to put their money on ETC. it seems like that antpool has no chance to mine ethereum anymore in the future.
So many miners are starting to move to the ETC. i guess this is the impact caused by ethereum merged announcement and so more miners migrate to the ETC.

Everything may change if Chandler Guo plans are implemented and we see another fork of ETH. Chandler Guo: "We will fork ETH，you will get free cash" - https://twitter.com/chandlerguo/status/1552380346385289218?s=21 In this case, the released capacity after the transfer of ETH to POS may remain in the new ETHPOW blockchain.

https://defillama.com
I think that in the current situation hardfork is impossible. What will happen to all these projects that work in the Ethereum ecosystem?
This could be another fundraising scam because Chandler Guo doesn't have a professional development team.

Electric Capital Developer Report (2021)
https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d

He will not find even 5% of the required number of developers, so the project is doomed to scam.

Any attempt of hardfork for ETH after PoS merge carries little merit or like in your found on the Chandler Guo, is an outright scam. ETC is already there so any miners who feel disgruntled after being kicked out of ETH can switch to ETC. The price of ETC will increase for sure but not enough to sustain all the ETH miners so expect a lot of ETH miners will pull the plug forever.

zasad@

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Quote from: tvplus006 on July 28, 2022, 06:06:15 AM

Quote from: asriloni on July 28, 2022, 01:50:20 AM

No doubt if that was happening with ETC. FOMO is real after merged announcement combined with the news that came from antpool. So many people are starting to put their money on ETC. it seems like that antpool has no chance to mine ethereum anymore in the future.
So many miners are starting to move to the ETC. i guess this is the impact caused by ethereum merged announcement and so more miners migrate to the ETC.

Everything may change if Chandler Guo plans are implemented and we see another fork of ETH. Chandler Guo: "We will fork ETH，you will get free cash" - https://twitter.com/chandlerguo/status/1552380346385289218?s=21 In this case, the released capacity after the transfer of ETH to POS may remain in the new ETHPOW blockchain.

https://defillama.com
I think that in the current situation hardfork is impossible. What will happen to all these projects that work in the Ethereum ecosystem?
This could be another fundraising scam because Chandler Guo doesn't have a professional development team.

Electric Capital Developer Report (2021)
https://medium.com/electric-capital/electric-capital-developer-report-2021-f37874efea6d

He will not find even 5% of the required number of developers, so the project is doomed to scam.

Sayeds56

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Quote from: exoncenter on July 28, 2022, 05:17:15 AM

As Vitalik sais - ETC is a good coin for PoW) So you can understand that all ETH PoW lovers will jump into ETC.

ETC is one of the oldest coin and has maintained its rank in Top 20 coins on coinmarketcap. The Ethereum merge in September-22 (which has compelled miners to switch to ETC) is behind current hike as well as investment from Grey scale and Antpool. Technically speaking ,the current price of ETC is around $37 and next resistance is at $43 which is very strong. I think we should not jump in at current price and wait for it to go above $45 then it can make further gains. DYOR

antsam

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Quote from: bittick on August 01, 2022, 12:23:27 AM

Quote from: antsam on July 28, 2022, 08:15:06 PM

Congratulations to those who still hold ETC, but I don't think the increase will follow ETH because ETH will undergo drastic changes that will raise the price higher. If it's profitable, it's better to diversify to its brother ETH

If all of ethereum miners are moving to the ETC and the same will be happening like ethereum. People are still speculating about the price of this coin will be going even higher since massive migration will be happening soon. I have heard that the rumour about the next hardfork may create another new fork coin from ethereum. I didn't know whether this true or not.

I haven't heard of hard forks, isn't it the move from POW to POS that will make Ethereum change drastically for the better, faster, more efficient and will hit the crypto market. Hopefully ETC can keep up with its twin brother

bittick

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Quote from: antsam on July 28, 2022, 08:15:06 PM

Congratulations to those who still hold ETC, but I don't think the increase will follow ETH because ETH will undergo drastic changes that will raise the price higher. If it's profitable, it's better to diversify to its brother ETH

If all of ethereum miners are moving to the ETC and the same will be happening like ethereum. People are still speculating about the price of this coin will be going even higher since massive migration will be happening soon. I have heard that the rumour about the next hardfork may create another new fork coin from ethereum. I didn't know whether this true or not.

Fundamentals Of

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Quote from: TravelMug on July 28, 2022, 10:15:12 PM

Quote from: Fundamentals Of on July 28, 2022, 09:35:54 PM

It was indeed a surprising move for Ethereum Classic. Nobody probably expected that very quick rise. Although there is so much excitement building up around Ethereum for the upcoming merge, it wasn't something that is about Ethereum Classic. But it seems it also has a strong effect on it. I'm not sure if it is indeed the reason behind the rally because the rise of Ethereum itself is much lower than Ethereum Classic's. But it seems it has something to do with it.

Indeed there was an effect on the Classic itself, we never thought that it can still do good in the bear market (although still very far from the last all time high).

So we will see where it goes, as someone said, congrats to those who hold ETC, I'm not a holder but it seems they have defied the test of time and still in the market, just a shadow of its big brother. Nevertheless, it goes with the market sentiments and didn't die down in the last 2 bearish markets.

The all time high of course can't be reached during this bear season where Bitcoin itself isn't pushing the rest of the altcoins to high levels. But given that the market is bearish and ETC does not have anything very special to offer, it is indeed a great and very surprising move for the coin to give more than a 100% increase in price for their hodlers.

I myself used to have ETC in the past but I eventually decided to sell them because it seemed it isn't that special anymore in the big altcoin market. But congrats to those who kept theirs.

Topic: Ethereum Classic Catches Triple-Digit Gains During the Last Two Weeks! (Read 334 times)