ETC because it's Ethereum and in my opinion the honest form of it. The ETC blockchain is older and the first ethereum. ETH was created last summer in a very centralized manner that in my opinion hurts decentralization and thereby cryptos in total. ETH relies on its devs far too much, cryptos should not be about people. That's the whole point, you take individuals out of the picture. What happens to ETH price if tomorrow Vitalik is found guilty of some heinousness crime?....Also, the terms laid out in the DAO were clear. People knew they were investing in something risky and it was all open source.
I don't consider the DAO hack a theft at all. Suppose i put an envelope of cash on my porch, and then bequeath all authority over that cash to the envelope itself. Even openly state that the envelope is in charge of the money, maybe write it on the outside. Someone comes along and takes the envelope from my porch- have they done something wrong? The envelope is in charge and it didn't tell them to stop so.....
Bottom line ETH is too centralized and doesn't respect immutability. Without immutability crypto isn't an innovation, its a database. I'll never buy or endorse ETH.
Oh yea and WAVES i threw in there based on a friend's recommendation. I actually don't know a ton about it. I had heard though that things may be aligning where ETH=USA NEO=China and maybe WAVES=Russia...
"I'll never buy or endorse ETH."....sorry, this is harsh. I don't actually hate it or the people who follow it. I just think there are way way better options out there that serve decentralization.
Many, including myself, would disagree with you when it comes to the hack not being theft; to each, their own opinions.
The beauty about blockchains is when we disagree, we can hardfork and go our separate ways. No side needs to be right, no need for majority wins. Every side gets their own blockchain. The only compromise is the name and symbol to be used by exchanges and wallets and that is also the choice of the individual developers and not some market authority.
Absolutely that is the beauty of blockchains....Although I said what i said about ETH not because i'm gauging morality or anything. Simply assessing which chains will have the most longevity. At the very least, the ETH fork was contentious, hard to argue with that. It didn't respect immutability. Long term that creates a big risk that ETC and other projects don't have. The contentious fork was only possible because the community is following people, the developers, and thereby the price will always be subjected to their lives. When they die, switch, have scandals, the coin value is at risk. Immutable coins are centered around decentralization, not people.
I also would worry what happens when there is a major scandal at an ETH ICO. Same situation occurs again, people bought something risky and lost everything. Will the devs do another roll back and again change the ledger? Seems to me that an ICO fail is bound to happen, they can't just do a reset every time people want their money back. At some point investors would lose faith in such a thing as it'd be not much different than a database.
It seems to me that ETH is popular with the establishment because of the pull back.
The institutions working to integrate ETH are confident that in the event that they fuck up on a grand scale, the ETH community has shown to be willing to go against immutability in order to correct their grand mistakes.
Immutability is not friendly to institutional money i.e. quantitative easying money.
Sorry missed this comment. Love it! Very true.....its one of those things and a long time complaint of bitcoin. Its absolute, so when you fuck up there's no going back. Trustless is too scary of a concept for most- especially those with a lot to lose!
ETC because it's Ethereum and in my opinion the honest form of it. The ETC blockchain is older and the first ethereum. ETH was created last summer in a very centralized manner that in my opinion hurts decentralization and thereby cryptos in total. ETH relies on its devs far too much, cryptos should not be about people. That's the whole point, you take individuals out of the picture. What happens to ETH price if tomorrow Vitalik is found guilty of some heinousness crime?....Also, the terms laid out in the DAO were clear. People knew they were investing in something risky and it was all open source.
I don't consider the DAO hack a theft at all. Suppose i put an envelope of cash on my porch, and then bequeath all authority over that cash to the envelope itself. Even openly state that the envelope is in charge of the money, maybe write it on the outside. Someone comes along and takes the envelope from my porch- have they done something wrong? The envelope is in charge and it didn't tell them to stop so.....
Bottom line ETH is too centralized and doesn't respect immutability. Without immutability crypto isn't an innovation, its a database. I'll never buy or endorse ETH.
Oh yea and WAVES i threw in there based on a friend's recommendation. I actually don't know a ton about it. I had heard though that things may be aligning where ETH=USA NEO=China and maybe WAVES=Russia...
"I'll never buy or endorse ETH."....sorry, this is harsh. I don't actually hate it or the people who follow it. I just think there are way way better options out there that serve decentralization.
And the free market allows you to avoid that which you do not agree with.
I have read somewhere that the WAVES Decentralized Exchange is not quite decentralized.
As a precaution, and until I get more information, I have extrapolated that information to the WAVES blockchain itself.
Thanks, yes i should look closer at it. I bought a tiny bit on a friend's recommendation, thats all.....Too many coins and too many stories!
Many, including myself, would disagree with you when it comes to the hack not being theft; to each, their own opinions.
The beauty about blockchains is when we disagree, we can hardfork and go our separate ways. No side needs to be right, no need for majority wins. Every side gets their own blockchain. The only compromise is the name and symbol to be used by exchanges and wallets and that is also the choice of the individual developers and not some market authority.
Absolutely that is the beauty of blockchains....Although I said what i said about ETH not because i'm gauging morality or anything. Simply assessing which chains will have the most longevity. At the very least, the ETH fork was contentious, hard to argue with that. It didn't respect immutability. Long term that creates a big risk that ETC and other projects don't have. The contentious fork was only possible because the community is following people, the developers, and thereby the price will always be subjected to their lives. When they die, switch, have scandals, the coin value is at risk. Immutable coins are centered around decentralization, not people.
I also would worry what happens when there is a major scandal at an ETH ICO. Same situation occurs again, people bought something risky and lost everything. Will the devs do another roll back and again change the ledger? Seems to me that an ICO fail is bound to happen, they can't just do a reset every time people want their money back. At some point investors would lose faith in such a thing as it'd be not much different than a database.
It seems to me that ETH is popular with the establishment because of the pull back.
The institutions working to integrate ETH are confident that in the event that they fuck up on a grand scale, the ETH community has shown to be willing to go against immutability in order to correct their grand mistakes.
Immutability is not friendly to institutional money i.e. quantitative easying money.
Sorry missed this comment. Love it! Very true.....its one of those things and a long time complaint of bitcoin. Its absolute, so when you fuck up there's no going back. Trustless is too scary of a concept for most- especially those with a lot to lose!