The battle for Ethereum's survival - ETC vs. ETH

Ethereum recently went through the DAO debacle. With the recent decision to hardfork the chain, certain folks have taken the liberty of "reviving" the old chain and renaming it Ethereum Classic (currently listed on Poloniex), and touting it as the original Ethereum project without censorship and blacklisting, a.k.a decentralized.

Ethereum classic news

A lot is at stake here even for those not in the ETH space. There are two sides of a cryptocurrency community coming to heads here beyond Ethereum itself. On one side, there are the diehard libertarians who insist decentralization is what makes cryptocurrency one in the first place. Immutable proof without central authority. Then there are the folks that argue under certain circumstances, exceptions should be made if their is community consensus regardless of how that blundered outcome resulted in the first place.

Post your thoughts.

 

Update: This morning, ETC has garnered about 7% of ETH's hashrate. After finding its bottom of around $0.50 each, it has risen to over $1.40. Its current 24 hours volume is about 2k BTC higher than ETH on Poloniex - 36.8k BTC to 34.8k BTC. Bittrex and Yunbi are looking to add ETC within the next 24 - 48 hours.

Something to note is that both ETC and ETH use the same chain properties aside from the hardfork changes made to ETH after DAO (even though DAO funds were exploited by following exactly how the contract code was written, therefore the error being made by the folks who wrote it.)

This is a chance to get into Ethereum at an almost 85% discount. Don't forget to do your due diligence before investing, and don't risk anything you're not willing to lose. No opportunity is a sure bet, but some are just irresistible.

 

Update: Price has broken $2.00 (300%+ 24 hours) for ETC while ETH loses 10%. +10k BTC volume over ETH on Poloniex.

 

Vitalik Buterin's post about the post fork: Onward from the Hard Fork - Ethereum Blog

Also, Coinbase just added ETH to it's exchange as well.

 

Ethereum chainstate

ETH has lost quite a significant amount of hash rate. Started at just under 2% a couple days ago. Now it's at 20%. 3.5k ETH to 700 ETC.

Kraken and Yunbi (one of the top volume Chinese exchanges) are both adding ETC tomorrow as well.

Gavin Wood, one of the coredevelopers of ETH has shown his support for both chains mutually existing as he was against the hard fork in the first place.

 

I wonder if + hashrate -> ++ price -> +++ hashrate -> ++++ price can prove to set up huge gambles on future forks.

 

Do we know what the DAO hacker has done with his ETC?

 

Attacker has withdrawn all ETC from DarkDAO on the unforked chain

But honestly, the DAO attacker is some sort of evil fucking genius. His money is made from marketmaking and manipulation. Not the actual dumping of ETH/ETC. Plus he could have leaked his ETC into the markets over the last week and cashed out easily.. The 24 hour volume reached $125M+ on several days.

His twitter is @theblonde82

This was a fun tweet heh. Twitter

 

ETH dropped to about 2/3 of it's post-fork price and it's lowest price in months. ETC is holding on to 20%-25% of Ethereum's total value and hashrate.