Why isnt it going up?

SniperGod
SniperGod

why isnt it going up?

All urls found in this thread:
https://soundcloud.com/thecryptocast/ep6
TurtleCat
TurtleCat

the whales are keeping prices down by dumping every now and then

RumChicken
RumChicken

@SniperGod
ETC has no future.

It has no devs, and relies on copy/pasting ETH's updates. It is simply a shitty ETH altcoin which offers NO advantages over ETH. The only selling point is that it has not yet hard forked - and promises it never will.

Also, hackers and the Ethereum foundation hold a very large amount of ETC. A massive dump could come at any point. If they do not sell, this undermines POS in the future, leaving ETC at big risk.

It's a classic pump n dump. Go look through altcoins on Poloniex, and you'll see countless examples of exactly the same thing when new coins were added to the exchange. They all end up worth almost nothing.

If you genuinely believe that ETH is against immutability, and is going to keep hard forking in the future, you're a deranged fool.

PurpleCharger
PurpleCharger

@RumChicken
A lot of this is bulshit.

Infact, consider help if that's what you gather after reading on ETC.

StrangeWizard
StrangeWizard

@PurpleCharger
A lot of this is bulshit.

Feel free to point out the faults.

Also, may I add that the whole;
ETC has never hardforked
ETC is the 'original chain'

Are absolute lies.

The Homestead release was a hardfork - which is incorporated in ETC.

The original ETH chain is long dead, just like ETC will be.

Stupidasole
Stupidasole

@StrangeWizard
Forking wasn't the issue, it was the fact that the sole reason there was a hard fork implemented because of this hacker was becuase the dev's themselves were heavily invested in the DAO. I saw the conversation transcripts, the first thing any of them mentioned was "can we get our money back?"

The way people glorify vitalik in the eth community is troubling, the decision to hard fork was a dumb one, and there was never a consensus reached. What sort of incentive is there for companies to use a decentralized currency when it can be manipulated by a small consortium of dev's? This is literally the exact thing ethereum was designed to not be. I was an eth holder, but I am holding ETC now, this whole thing has been a cluster fuck.

Also, that fat fucking autist Stephen Tual should be hung and quartered for what he did to ethereum.

Supergrass
Supergrass

@Stupidasole
the sole reason there was a hard fork implemented because of this hacker was becuase the dev's themselves were heavily invested in the DAO

The devs didn't have a say in the vote... The miners and community chose to hardfork. The majority of people got what they wanted.

This is literally the exact thing ethereum was designed to not be.

Yes, but this is still early days. When Ethereum is actually ready, this shit will not happen again.

You cannot expect to buy into the early development of a new technology and cry when they need to fix a flaw.

Stark_Naked
Stark_Naked

@Supergrass
No, there was no consensus reached actually.. 5% of the eth voted in the vote's.. that means 95% of the eth holdings had no say in what happened. IF the dev's had no money invested in the DAO, this fork WOULD NOT HAVE HAPPENED. How hard is that to see? They would have drove a hard line and said "this is not what ethereum stands for, decentralization, etc etc'

Its so painfully obvious that that is what would have happened.

Raving_Cute
Raving_Cute

@Stark_Naked
IF the dev's had no money invested in the DAO, this fork WOULD NOT HAVE HAPPENED

I disagree.

As a developer, when a problem arises during the development of a product, you fix it.

If Ethereum was finished, and they did this, it would be a completely different story.

A valid argument you CAN make is that 'if Ethereum is not finished, and they are willing to do things like this, then they should not be selling it yet'. That is a fair argument, but I think that lies more on the person buying ETH, rather than them.

Investing in cryptos is extremely risky, which is why the potential returns are so high.

farquit
farquit

@Raving_Cute
Except it wasn't Ethereum that had the bug, it was the DAO. The dao was a completely seperate contract written by amateurs who then came crying to the ETHEREUM community to bail them out of their bad investments.

If it was Ethereum that had the issue, then I might be inclined to agree with a hard fork, but this is not the case.

5mileys
5mileys

@farquit
There were multiple issues fixed in the hard fork. It was not solely done to get money out of The DAO.

iluvmen
iluvmen

@5mileys
That is absolute nonsense. By far the most paramount reason was to bail the DAO investors out, a few of which who happened to be Ethereum Dev's.. Get your head of your ass.

You sound like a sheltered weeb or something.. Have you ever interacted with people? When people lose large amounts of money, and there is an option to get it back, they are going to take that option.. regardless of any circumstances created by making such a decision.

idontknow
idontknow

@PurpleCharger

Not an argument

SniperGod
SniperGod

im gonna bag-hold some ETC just incase it goes insane again

Spamalot
Spamalot

Guys just a quick question. I am new to that eth thing.

The DAO was a smart contract right?

Smart contracts are investment vehicles?

So what did that DAO do? Was it like a bond?

Thanks

cum2soon
cum2soon

Both ETH and ETC might as well be dead. ETC has no real backing and exists as a fuck you at this point basically. And ETH already has strayed away from a huge thing that these crypto currencies need to stand for otherwise how will they ever be trustworthy? Without immutability they could very well fuck everyone at any point.

Inmate
Inmate

@SniperGod
Etc is due to jump to levels of eth before death

at that point i will sell

and its a win

then i will buy my other two favs

cry faggots

ZeroReborn
ZeroReborn

@RumChicken
no advantages
it's literally the Ethereum that stay true to what Ethereum is supposed to be

The ugly precedent is set. Confidence is lost. Ethereum will survive in ETC form or it will not. Your chances to get in cheap are getting thiner by the second.

AwesomeTucker
AwesomeTucker

etc and eth are destined to be worthy exactly the same amount

Supergrass
Supergrass

eth is a mess. somebody help eth please! it needs some milk.

Evil_kitten
Evil_kitten

Somebody tell me what the fork was and why they did it. The dishonest media acts like you should already be the expert for some reason

Evil_kitten
Evil_kitten

@SniperGod
People who believe etc is relevant because it didn't hard fork instantly prove to their peers that they do not understand IT Development 101 or the most basic economics.

It's not going up because most original eth are none of these things

haveahappyday
haveahappyday

@PurpleCharger
Ad hominem and no argument

Techpill
Techpill

@iluvmen
yet when there's a chance for people to get lost money back they will take that chance.

This is a fair point and your logic regarding eth is ok, it just doesn't project reality in my opinion:

- what is stopping etc from doing the same?
You're leaving one platform for a new which is almost identical. Nothing on the new platform prevents the new devs from doing the exact same thing. In fact, there is a huge economic inventive to crash and burn after a bit spike because the majority of brain power resides in eth. Etc could get that, but it's still a risk.

- this fork was driven by profit motive I 100% agree

However, as time progresses this becomes much harder to execute and has, despite your argument about a bad light for investors, been very positively received. Most investors much prefer a stable community than a fundamentalist one

Burnblaze
Burnblaze

did anyone make some money on the new ETC pump? Jumped up from 0025 to 0031

not bad

Need_TLC
Need_TLC

@Evil_kitten
The full story is this:

We came up with eth and it showed a shitton of promise. Many of the devs of eth and the people close to them forned a company called slock.it

Slock wanted to use eth to somehow allow people to collect money by renting real world objects. My bike is locked with a "slock" and left on a street corner. Deposit 1 eth into the slock to unlock it for 1 hour etc.

To fund this company and other ambitious projects for eth they came up with a contract (an app) called the dao to let people poool their funds and invest in these new startups. Youd get a payouy based on the profit the startup made.

Unfodtunately due to a coding error someone essentially stole the funds in the dao (100M+). The ethereum blockchain prides itself on being immutable and irreversible. You cant just "patch" an app once you release it.

So the community went through a shitfight on wether to retrieve the stolen funds the only way they could. By "forking" the chain. Essentially this would mean that "segment " of the chain goes back in time to before the hack and the devs make a change to prevent the hack.

The communitt voted using the built in mechanisms of ethereum and voted for this back in time gambit which worked. However the abandonded zombie chain (where the hacker still has millons) has achieved some sort of bizare after life called etc.

Nude_Bikergirl
Nude_Bikergirl

@RumChicken
It is simply a shitty ETH altcoin which offers NO advantages over ETH

It offers every benefit of ETH with lower cost.

farquit
farquit

@Need_TLC
There was no real majority vote. Like 5% of the network participated in the vote, and ofcourse those who wanted to be bailed out all voted (in favor).
The free market will be the real vote.

cum2soon
cum2soon

Going back up lads ,sell Eth buy Etc

kizzmybutt
kizzmybutt

@SniperGod
I have let's say $150,000 to invest, I mostly do covered calls and make nice returns. Since I came to Veeky Forums, I've seen people talking about Ethereum and Trumpcoin non fucking stop. Can somebody please explain to me why I would trust trading a crypto currency over NYSE. Sorry to ask for spoonfeeding, I'm just really not interested in anything illegitimate.

I was especially sketched out when I found out that Trumpcoin had a forum with some bitchy community leaders in charge of shit. Seriously? How am I supposed to put my trust in the legitimacy of any of this?

Ignoramus
Ignoramus

The ethereum sub reddit is so butthurt it's delicious

King_Martha
King_Martha

all these eth cucks itt trying to rationalize how their shitcoin is going to survive
The foundation is shit, Vitalik is shit. Nobody trusts them anymore except their cult followers. Stay butthurt while ETC goes to the MOON

5mileys
5mileys

@kizzmybutt
I would not suggest going balls in into crypto. Take 1,000 bucks and trade them little by little. It's a very volatile market, you'll lose a lot before you learn how to win a lot. But once you learn, you'll know which coins pump. Even if you don't know exactly when, you'll learn that sooner or later they will pump. From there on it's not so hard to win, if you have a little patience
At the moment it is obvious, at least to me, that ETC will most likely at least double its value in near future.

takes2long
takes2long

@5mileys
Thanks for the response. I mean, if you really think it will double, why wouldn't I go all in?

Are there any indicators here?

whereismyname
whereismyname

@RumChicken
lol idiot

Dreamworx
Dreamworx

@takes2long
He is a pussy. To get rich you must bet hard. I went in with 10 BTC at 0.0025 and I have only 15

I sold a bit, it should correct before we continue rising.

Obviously its an huge risk but this time I saw it clear and I said fuck it, now or never.

Stark_Naked
Stark_Naked

@farquit
Oh but there was a majority vote. Infact you had to download a client update that specifically asked if you want to fork or not.

The default action of doing nothing is no fork. Despite this people went for the fork.

I believe the latest numbers show that the people remaining onnl etc are some tiny minority. Like 5%.

Given how cheap etc is and how every prefork eth holder also holds equivalent etc there was a massive buy in for questionable reasons. Liquidity was near 0 because no one even uses that chain anymore. Thus if I had 1k I could pump etc price up almost 10% straight after the split. With just 1k.

Eventually a few btc whales thought theyd get in and pumped the price up. Etc pumps very very fast because of tiny liquidy in real dollars bein traded.

In short. No one really cares about absolute immutability. I mean a shitty blatant exploiter screwed over the second biggest crowd funded venture ever and we took months and months to debate a fork.

Even if fuxking isis was using eth to trade weapons or trade hadiths or something, its likely it would never be found let alone have the whole community unite against it and fork.

Nude_Bikergirl
Nude_Bikergirl

@Stark_Naked
No one really cares about absolute immutability.
they literally list it on their website
ETC is the real chain, stop coping. ETH fundamentals are dead.

w8t4u
w8t4u

Humble Bit-Peasant here

Lovin the profits!

Firespawn
Firespawn

@takes2long
why wouldn't I go all in?
because you have no experience in this particular market, you don't know where to get the news, you don't know how things look when they are about to go south. I am just telling you to be intelligent and not FOMO. The crypto community is very irrational and more often than not will do things contrary to what logic demands.
If you want to go all in, suit yourself. I am just saying that in your place I would be cautious, like in all things.

TechHater
TechHater

An overview of my holdings. I'm a true memelord who's gonna lose all his money

Skullbone
Skullbone

@TurtleCat
the whales
kek still repeating this bullshit like it means anything
whenever i read "whales" i just know the guy has no idea whatsoever how the market works and what's going on.

BunnyJinx
BunnyJinx

@Skullbone
Do you even trade in ETC? Its mostly controlled by whales.

Fuzzy_Logic
Fuzzy_Logic

0.005 before the end of the week, then crash down to 0.002

screencap this

SniperWish
SniperWish

@SniperGod
guess this thing is dead huh

RumChicken
RumChicken

@Fuzzy_Logic
Will go up afterwards ?

StrangeWizard
StrangeWizard

@RumChicken
I don't know, but I'm enjoying the ride.

0.0042

Lord_Tryzalot
Lord_Tryzalot

@Fuzzy_Logic
you mean 500k by the end of the night top kek

its going to hit 10 dollars by the end of the week

w8t4u
w8t4u

FUCK 500k here we GO RIGHT NOW NEXT HOUR I TPOLD YOU TO HOLD FGGOD

AwesomeTucker
AwesomeTucker

tfw you brought in at .0007.

JunkTop
JunkTop

@AwesomeTucker
good job user.. you just made 500% in a week

GoogleCat
GoogleCat

@SniperGod
so should I buy ETC?

Illusionz
Illusionz

My poor Lisk :(

Raving_Cute
Raving_Cute

600 BTC wall @ 0.0045 just got pulled

to the moon we go

haveahappyday
haveahappyday

I can't wait to turn my measly .2 btc into .23 btc

Nude_Bikergirl
Nude_Bikergirl

@w8t4u
I TOLD YOU FAGGOTS IT HIT 500 NOW ITS GOING FOR 600 IM ALWAYS RIGHT

Garbage Can Lid
Garbage Can Lid

@haveahappyday
I did 5x that ammount trading it the first day it hit polo

Its not impossible user.. you can do it

SomethingNew
SomethingNew

@Raving_Cute
Is that why it crashed to 3.5? Makes sense now.

Sharpcharm
Sharpcharm

@Raving_Cute
not yet.. theres still another YUGE wall at .005

Emberburn
Emberburn

@Nude_Bikergirl
I'm trying to help you guys. There's two types of coins.

Fundemental coins that change the world:
-Bitcoin - First Major cryptocurrency
-Ethereum - First global computer

Then there's what are called 'pump and dump meme coins'.
-Doge -First coin with a picture of a dog?
-Trump -First coin of the god Emperor?
-Sia etc. -I don't need no dolla bills to have fun tonight?

Ethereum has a whole foundation developing for it, it's at the eye of the storm recovering from the whole DAO attacker fiasco but eventually things like Augur and reidao are going to come online. This is literally going to make Ethereum double or tripple in value when they succeed.

These applications tend to only be worth running on one chain. The majority chain is still Ethereum. Ethereum and more importantly Vitalik and the foundation have major contacts in the Industry, Microsoft even. They are the people that banks are going to approach to negotiate running a chain on.

ETC has nothing similar other than a few unconnected semi-developers.

The other thing to realise is that on ETC's chain there are two major problems.
1) A huge percentage of the funds are being held by a hacker who will dump when he feels unsafe.
2) A huge percentage of the funds are being held by Bitcoin maximalists who will transfer back into bitcoin when they feel unsafe.

The hacker and the maximalists are smart people, they don't for a moment think this hobo chain with a handful of developers, massively lacking infrastructure and a development philosophy of "Copy and Paste the Eth contracts" is going to have a future. They KNOW this is a pump and dump, the moment that they feel the price has reached a certain point it will move down from which no one will be able to get out fast enough.

ETC has two purposes. It allows a hedge in case we don't have all the information and some people do, which is why ETC was rising so fast.

Firespawn
Firespawn

@Emberburn
maybe by the time the hacker dumps, the market can absorb it with ease

TalkBomber
TalkBomber

@Emberburn
The other use is perhaps ETC could be a niche 'dark coin'. The absolute immutability might make people feel a bit safer about buying illegal things from say a Silk-road like market running on the blockchain itself as opposed to a website or central server. This kind of thing could never have what happened to silk road happen to it.

(Not that such a store couldn't be run on the main eth chain, nor would such a store actually be forked out of).

In any case. I'm holding both Eth and ETC to play it safe. If someone held a gun to my head I would sell ETC like the plague. 99% it's a pump and dump that's going to go to 0 in a heartbeat.

LuckyDusty
LuckyDusty

@Firespawn
That would be the case if there wasn't a massive amount of bitcoin maxers that are buying into the coin.

The moment the price hits a natural resistance point it will move down a bit.

The hacker at this point will liquidate his own funds, this will cause a further move down.

This will in turn spook the bitcoin maximalists who will convert their ETC back to BTC (making a nice profit if they got in early enough).

At that point the price will be frighteningly low.

The final deathblow for ETC will be when Eth releases some major dapp which gets a lot of usage. ETC will fade to the same status as the million other meme-coins.

That's the main thing I'm trying to stress here. There's two types of coins. Coins that are trying to make a difference in the world whether they are worth $1 or $1000.

And coins who's sole purpose is to make big %'s and then drop to nothing. ETC is in the second category.

It has a tiny fraction of the development might, it has a tiny fraction of the dapp development, it has a tiny fragment of people who use the chain for purposes other than to send money to and from an exchange.

VisualMaster
VisualMaster

@LuckyDusty
Auger won't be released at least like 4-5 months from now.

Anyways as BTC maximalists are buying up ETC as BTC falls, now is the best time to get into ETC
for now

eGremlin
eGremlin

@VisualMaster
I'm not sure why now would be the best time to get into ETC.

It's like there's a ticking time bomb and we don't know when it's going to go off... and you're telling me "Yep, now is the best time to hold the bomb".

Any number of things could happen at any time that will completely lose everything you put into ETC.

Vitalik could announce he is selling his ETC
Dumpers could dump.
News could pick up on a new Dapp on the Eth chain.

Any of these events WILL send etc to literally nothing.

JunkTop
JunkTop

@eGremlin
1417937
in less than a day when it's been the biggest BTC crash this year?

it's not in vitalik's best interests to tell what and how much he holds. it's probably best for the ETF to look like it doesn't care about ETC.

PurpleCharger
PurpleCharger

@eGremlin
You are one jealous motherfucker

StrangeWizard
StrangeWizard

@JunkTop
also current volume:

ETC: ~90,000
ETH: ~30,000

ETC's volume was only 60,000 just a few hours ago

Stupidasole
Stupidasole

@StrangeWizard
now is the time to BUY

got to bed, wake up and triple or double your holdings

Dreamworx
Dreamworx

Missed the boat again because I can't get access to poloniex at work ,just kill me

Stark_Naked
Stark_Naked

Looool told you niggaz at 1 dollar/etc. 2.70/etc now!

Spamalot
Spamalot

@PurpleCharger
What do I have to be jealous about? I hold both? In equal amounts.

Poker_Star
Poker_Star

You ETH bagholders can still buy the dip before we go 0.01

Playboyize
Playboyize

@eGremlin
Ethereum Foundation public relation is already at a minimum. If I was him I wouldn't risk any approach and stay behind the covers.

Techpill
Techpill

@Emberburn
@TalkBomber
@LuckyDusty
eth cucks are THIS delusional
lmao
dapps will pass to ETC once it becomes the longest blockchain; it's the exact same software. Miners are already moving en masse to ETC because of the much lower difficulty. The DAO hacker did all of this to fuck ETH because he knew they were crooks trying to turn the crypto communities from bad goyim to good goyim. I believe he is not going to dump at all. Even if he did, he cannot do that until several weeks from now. By that point ETC will be so huge that even if he dumped it wouldn't have much of an effect on price.
Eth cucks are the only ones seeing this as a PnD. They will be the only ones left in the HF chain when all is said and done.
Never seen more butthurt by cult followers getting BTFO so deliciously, ever. Feels good af.

DeathDog
DeathDog

is ETC going to pump and dump?
is ETC going to the moon?
has ETC's biggest % gain already occurred?
Is it still worth buying into?

ZeroReborn
ZeroReborn

@DeathDog
yup, I bought literally 10 minutes ago and am already profiting.

Dreamworx
Dreamworx

@Techpill
correction. Apparently the hacker won't be able to withdraw his funds until the end of August

BinaryMan
BinaryMan

https://soundcloud.com/thecryptocast/ep6

Sir_Gallonhead
Sir_Gallonhead

@Emberburn
banks are going to approach

Yeah, big banks are all about having some pimple faced neckbeards make critical decisions overiding their contracts on the blockchain.

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