Major Bitcoin/Ethereum Exchange: Ethereum Classic is a Scam
It seems all year long, the digital currency community has been abuzz over Ethereum. From its meteoric rise in January, moving from less than #1 USD in value to over $15 USD by mid-February, to the innovative, but ill-fated DAO experiment, Ethereum has been all over the news. This won’t abate anytime soon, as the recent fork and emergence of an “Ethereum Classic” has created a new storm of controversy, leading one leading Bitcoin exchange to attack. When digital currency exchanges attack. Digital currency exchange BTC-e posted on their website’s latest news entry that they see major....
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This is quite an interesting statement, as BTC-E claims their users have transferred their own ETC funds to the Poloniex exchange. The world of cryptocurrency seems very divided when it comes to Ethereum and Ethereum Classic right now. Cryptocurrency exchange BTC-e went as far as calling Ethereum Classic a”scam,” as they have no plans to support it. However, various of their ETH users are eligible to receive ETH tokens for funds stored before the hard fork took place. Will the company pay that funds to the rightful owners, or will they keep the ETC to sell it and reap the profits? BTC-E....
After the successful execution of the Ethereum network’s first hard fork, mainstream media outlets, including the Huffington Post, criticized the supporters of Ethereum Classic, calling the project aimed to maintain the original chain of Ethereum “another Bitcoin scam.” David Seaman, the author of an article entitled “‘Ethereum Classic,’ Another Bitcoin Scam,” laid out a series of irrational arguments to supposedly prove the invalidity of Ethereum Classic, both philosophically and economically. Because some people lost too much money? The first argument presented was the justification of....
BTCC, a major Chinese Bitcoin exchange, recently launched a new USD-to-Bitcoin exchange. Upon its successful US debut, the company announced its support for Ethereum Classic over ETH. On July 26, the Ethereum development team completed its hard fork to protect investors against the DAO attack. Almost immediately after the hard fork execution, Ethereum Classic emerged, to maintain the original governance model of Ethereum. Leading Bitcoin exchanges, including Kraken and Bitfinex, have supported both Ethereum Classic and Ethereum since, considering large market caps of both ETC and ETH.....
The support of Poloniex and overall optimism displayed by the Ethereum community spurred the growth of Classic chain, reaching a US$165 million market cap and surpassing the daily volume of Ethereum in a matter of hours. Following the announcement Poloniex on July 23, major digital currency exchanges including Kraken and Bitrex have added support for Ethereum Classic. Amidst the integration of Ethereum Classic support, Poloniex received both criticism and admiration from the Ethereum community, for going against the norm to support the Ethereum Classic project and its users. The support of....
Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....