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It has been interesting to witness ETC (the original non forked chain) gain momentum in the past 48 hours. According to Poloniex, as of this post, trade volume

It has been interesting to witness ETC (the original non forked chain) gain momentum in the past 48 hours. According to Poloniex, as of this post, trade volume for ETC (via BTC) is double that of ETH today. And asking price for ETC is up 140% while ETH is down -8%. So this fork isn't over - in fact, there's still no guarantee it will succeed; the ETC vs ETH battle has just begun.

erikpukinskis 10y ago
It makes sense volume would be high on ETC, the market is trying to resolve its price. The price of ETH is basically what it was before. It also makes sense that it would be making big gains. It just crashed basically to zero, there's nowhere to go but up. Neither of these metrics suggest long term viability to me. Although I am surprised it's trading as well as it is. 10% of ETH is pretty good!
- mrschwabe 10y ago
  "Nowhere to go but up" is perfectly logical reasoning, but may be an over simplification; as it implies speculation only. There may be another factor involved here; perhaps the 'hive mind' (market) is arriving to a realization...
Animats 10y ago
It's not clear how that's going to resolve. But ETC is still only at $2, vs. $12.23 for ETH. [1] Since you can still turn ETC into ETH at 1:1 (right?), that can't last. The really strange thing this week is "Steem", which came out of nowhere a month ago and is now supposedly the #3 cryptocurrency. This appears to be some kind of heavily premined scam. [1] https://coinmarketcap.com/ https://coinmarketcap.com/
- null0pointer 10y ago
  Not sure how you can change ETC int ETH 1:1... Any address that had a nonzero balance (except for the attacker ;) ) at the point of the hardfork has the same balance in both ETC and ETH. Since the private key for that address can sign on both chains. Some exchanges allow you to manage the two balances separately and you can exchange ETC for ETH but not 1:1, at whatever the market rate is.

erikpukinskis 10y ago

It makes sense volume would be high on ETC, the market is trying to resolve its price. The price of ETH is basically what it was before. It also makes sense that it would be making big gains. It just crashed basically to zero, there's nowhere to go but up. Neither of these metrics suggest long term viability to me. Although I am surprised it's trading as well as it is. 10% of ETH is pretty good!

mrschwabe 10y ago
"Nowhere to go but up" is perfectly logical reasoning, but may be an over simplification; as it implies speculation only. There may be another factor involved here; perhaps the 'hive mind' (market) is arriving to a realization...

Animats 10y ago

It's not clear how that's going to resolve. But ETC is still only at $2, vs. $12.23 for ETH. [1] Since you can still turn ETC into ETH at 1:1 (right?), that can't last. The really strange thing this week is "Steem", which came out of nowhere a month ago and is now supposedly the #3 cryptocurrency. This appears to be some kind of heavily premined scam. [1] https://coinmarketcap.com/ https://coinmarketcap.com/

null0pointer 10y ago
Not sure how you can change ETC int ETH 1:1... Any address that had a nonzero balance (except for the attacker ;) ) at the point of the hardfork has the same balance in both ETC and ETH. Since the private key for that address can sign on both chains. Some exchanges allow you to manage the two balances separately and you can exchange ETC for ETH but not 1:1, at whatever the market rate is.