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It is very refreshing to see people stand up for principles against narrow self-interest of a political group or authority.

• shepardrtc 10y ago
  This isn't about principles, its about money.
  • NhanH 10y ago
    How is splitting into ETC earning anyone money?
    • jonathankoren 10y ago
      Short ETH.
      • NhanH 10y ago
        They could still do that without splitting into ETC. In fact, without splitting into ETC, it's even easier to stay in the sideline and yell into the sky that fundamentally, the technical aspect of ETH is shit. By splitting into ETC, they gave up a lot of arguments against ETH, leaving themselves with only the ideological argument.
        • jonathankoren 10y ago
          ETH and ETC aren't the only games in town. You can still short it wrt other currencies.
          • NhanH 10y ago
            No one disputes that. What you said is true, and completely irrelevant to the discussion at hand (splitting into ETC would allow more profit when shorting ETH -- considering that shorting ETH is something you can already do).
    • yarrel 10y ago
      ETC is a pump and dump scam.
      • trevelyan 10y ago
        Hilarious that this comment is downvoted. The coin has been quite literally pumped and dumped over the last week or so, and its value has fallen to around half of its ATH and around 15 percent of the value of the winning fork. However one feels about the principal of the decision to fork and the decision of the market to follow the Ethereum Foundation, downvoting factual descriptions of recent price movement on the ETC chain constitutes inherently scammy behavior.
        • drdeca 10y ago
          That people tried to profit by manipulating the price doesn't mean that the chain itself is a scam. I don't think it's correct that the only relevant component of people using it is people speculating/pumping -and-dumping . So, I would think that saying that it is a scam, is not true. Note: I do not own any of it. Nor have I owned any cryptocurrency that was available on any exchange. (I've owned testnet ether, both pre release, and recently, but that's it)
        • 20yrs_no_equity 10y ago
          The ETC fork has %16 of the mining power of ETH, and the price of ETC is at this moment about %15 the price of ETH. This implies its price is following mining power, roughly. That's not a "scam" that's just a smaller alt. It's worth noting that before the fork there was no ETC "movement", there was just people who were unhappy with the fork. Everyone expected the fork to go to ETH. However, when sufficient mining power refused to fork, a movement coalesced from the people who opposed the fork. ETC is still up %300 from its stable post-fork price. The current mining power is up 2x-4x what it was post fork as well. Most of the rise of its price was preceded by increases in its mining power. This implies that people are putting money into mining it. When a fork happens you end up with a lot of people who have duplicated coins, so you would expect the "losing" fork to have some significant price dynamics. But the growth in hash rate and the sustained price implies this is not a "scam". That said I don't know what its future is- it needs a roadmap and a reason to exist to become viable long term. But at this point you can't say that won't happen. I hold neither ETC nor ETH.
• Dylan16807 10y ago
  It's principles either way. The principle of binding contracts vs. the principle of agreements performing as intended.
  • jabgrabdthrow 10y ago
    What happens when V.B. has too many hard fork decisions to make, or even delegate to his Foundation Lieutenants? I bet you non-ironically have uttered "just this once" too
    • Dylan16807 10y ago
      "Just this once" would be the stupidest idea in the world, preserving neither principle. I don't even know who VB is. I only care about this from a technological perspective. But presumably such a drastic action would not be happening often, if you have to get most of the network to vote. Was there something that gives a ruling council the ability to override miners? If not I think you're being unreasonable in the way you're criticizing.
      • pyskell 10y ago
        Due to the nature of mining on Ethereum (and most cryptocurrencies) you do not need the consent of many. Miners work in pools, and it's up to the pool operators to make decisions for a hard fork. In the case of Ethereum it took about 4 or 5 mining pools to reach majority (over 51% of network hashing power). A great deal of miners simply leave their mining rigs running and didn't make a decision either way. Miners largely do not care about any cryptocurrency. They will, understandably, mine whatever is most profitable. Miners also depend heavily on ping times and the total mining power of their pools. With 15 second block times every millisecond counts to make sure you're the first with the right block and get your reward. There was really no time for anti-fork mining pools to get setup well and it takes months for a pool to amass an attractive amount of miner hashing power. Overall the vote was about 5% for the fork, 1% against, and 94% abstaining. Ideally it would take a true 51% to change the network.