Is Ethereum Classic causing the price of Steem to dip?
Now obviously $3+ is still a lot higher than .23 cents like it was just a week or so ago, but with all of the new people coming to Steemit the price should stabalize a lot higher than $3.. even $5!
So I went on Poloniex and noticed today that Ethereum Classic was added..
What is Ethereum Classic?
Ethereum Classic is basically the original code of Ethereum..
And if you haven't been living under a rock in the crypto world you are probably aware of the DAO $50 million hack on Ethereum..
But after a long debate about hardforking Etherem decided to change the orginal Ethereum code and get back the stolen funds..
Is this a bad thing for Ethereum..
I don't think this is necessarily a bad thing for either one, because even though it took Ethereum A LOT longer than Steemit to get back stolen funds (Even if it is a lot more).. It is still something that probably needed to be done if ETH was going to compete with Bitcoin!
But the original code of Ethereum "Internet 3.0" or the "World Computer" will still have huge value in the future of the crypto world, because a lot of people believed in the original code, and wanted to see how THAT type of blockchain would effect the future of Smart Contracts and DAPPS..
So for now I think both are great platforms, and I'm excited to see what happens with both!
As always let me know what you think, and feel free to leave your own links in the comments below :D
I'm with Eth Classic due to only 3% of the Ethereum community voting on the hard fork. So when the CEO declares that "the community have spoken!", I laughed my ass off. Ethpool voted against it and I knew it was going to be popcorn time at that point.
Have a read of this article by the lead developer of Eth Classic and you'll see why I endorse it :)
Bascially, don't get on the wrong side of Russian Radical Crypto Decentralists...
Enjoy!
https://medium.com/@bit_novosti/a-crypto-decentralist-manifesto-6ba1fa0b9ede#.ij4twh7vc
Dude that's crazy thanks for sharing..
I'm checking it out now!
Some good points here but I think its more likely down to new and inexperienced traders dumping hard after a decent cashout? There's been some nice payouts recently. (SuperDuperMan)
I put a lot of my bitcoin into Ethereum not because of hype but because of the original idea..
If only those inexperienced steemheads used the DAX over at bitshares.org they'd find an equally impressive wealth generation platform by the same team. Would be nice if they kept those earnings in the community and took advantage of bitGOLD as well as other investments. #bitshares
It is a pump and dump created to cause panic in the hearts of ethereum investors. It is crashing HARD as we speak. It has no backing from the developers or miners.