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What is Ethereum Classic?

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  • What is Ethereum Classic?

    I see a new currency trading on Poloniex this morning - Ethereum Classic. It is trading with over 10,000 btc in volume... and with all the controversy surrounding the recent hack of The DAO... the trouble with the soft fork of Ethereum and the need to resort to a hard fork to undo the theft...

    It did seem to me that Expanse, which is a clone of Ethereum, would have been the natural second choice - but those who reject the hard fork are moving ahead with ethereum classic - so I'm keen to watch all this unfold.

    Poloniex Profit Grab?

    As I'm reading more, I'm finding that many are unhappy that Poloniex is supporting this divisive split in one of the most important digital currency technologies, and planning to attack Ethereum Classic blockchain.

    Personally, I think we are far to early in the evolution of decentralized technologies - and many, many different ways of achieving this will be rolled out in parallel... competition is good. In addition, I am a trader first and foremost... I am here to surf the waves of price moves and profit from the worlds transition to digital currency monetary systems.

    Ethereum Trading Speculations

    It is time for me to be ready to sell out of my Ethereum holdings and step back. My digital currency trading strategy takes me out of markets that are not trending - and if eth comes back to threaten my entry price, I'll take a bow and look for other markets.

    Trade on Binance - Check out this Crypto Tax Tool