re: Official CryptoTalk Thread

VETerans HODL strong your patience will be rewarded.

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Anyone know what "ethereum classic" is?

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It's the original ethereum before the fork.

The "ethereum"(ETH) priced at ~$300 is the forked version.


Ethereum had a hard fork after they were hacked to shore up security issues. A part of the original team didnt believe in reversing the hack to create the current ethereum (ETH) so they continued on with the original ethereum (now called ethereum classic-ETC) minus the hacked tokens. The team that didnt want to fork believed that deleting the code just to reverse the hack would compromise the integrity of the project as a decentralized system of transactions (the biggest motive for blockchain is transparency). They see code as law and you cant just erase a law because you dont like it.

Vitalik Buterin and the ethereum foundation is with ETH.


Ethereum classic (ETC) is not supported by the ethereum foundation. It's all by itself.


Ultimately ETH is further ahead and has a greater support team.

Strong news about successful use in china right now, phone is crashing so cant link

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Which really begs the question. Why would ETC have any value at all?

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The only people I can think of that are drawn to ETC are blockchain purists.

The people who want both decentralization AND transparency in terms of the code that comprises the system.

I dont think anyone will care about the code as long it's all still decentralized.

I also know ETC works off PoW (proof of work) making transaction times slower compared to PoS.


I read the other day ETH was attempting to move towards PoS.

The whole forking a currency and creating a new currency out of thin air strikes me as rather scammish.

I know all of these cryptos are essentially created out of thin air at some point.

But the thing is, when you fork a crypto currency and create a new one, it's not like the old one goes away.

Creating a brand new crypto currency from scratch is one thing, but when you do it off the back of an already established crytpo, it is to the huge benefit of people who already have a ton of that currency, since they'll still have their original currency as well as an equal amount of the new forked currency.

And it just can't be good for the general public to have multiple versions of the same product out there. It's difficult enough for a layman to understand crytpocurrency without another layer of confusion.

"I'm thinking about buying some Bitcoin."
"Bitcoin, Bitcoin cash, or Bitcoin gold?"
"Uh... what? Nevermind I guess."

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The whole forking a currency and creating a new currency out of thin air strikes me as rather scammish

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Ethereum is not a currency, it doesn't claim to store value like bitcoin.

I know that it has been a while since I have mentioned anything about Encrypgen. They released the gene-chain version 1 beta ahead of schedule and announced that the full version will be released by the end of next month. It's one of the few blockchain related projects that is very close to being used in the real world. Checkout the latest news article on it:

https://hacked.com/encrypgen-beta-launch-sends-token-soaring/

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Encrypgen is still down significantly from what it was in March

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Everything is

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That's not unique to the DNA token. It won't take much volume to get back to March numbers.

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I agree. I'm probably going to acquire a few, see what happens.

Anybody looking into this meeting?


"Slice dinero" and "cashdagreat" dont give away advice for free.