Why is ethereum classic (ETC) a thing? What does it do?

Why is ethereum classic (ETC) a thing? What does it do?

Attached: D1CB6C62-C67E-4ABA-891B-1ED91C895B27.jpg (1170x856, 722K)

It has sand nodes.

its fun for little fun guy traders like urself, go have fun investing :)

Vitalik and friends decided to roll back the chain when there was a bug found in a popular smart contract. Undermining the whole 'code is law' concept of smart contracts. I.e. if someone uses the existing contract to make themselves wealthy, it's not a 'hack' technically but just using the code that has been published on chain to do so. It wasn't a flaw in ethereum itself.

So ETC is a result of people saying yeah fuck that rollback. It's been 51% attacked and even known scammers like Charles Hoskinson tried to steer the governance in a shitty direction (proposing miner subsidies to enrich himself since he holds a lot of ETC by virtue of the fact it was forked and he's also annoyed about being booted from ETH).

I would say the worst is over for ETC. With ETH moving to PoS, and Vitalik and others are telling miners to keep using their mining hardware on ETC, that's a good thing for ETC. All ETC has to do is keep the existing protocol stable and stay on PoW, if anything fucking major happens with the ETH PoS move be it technical or more 'governance' issues, ETC is a good hedge. How much ETC should you own? Well, I bought 100 at around $5, and I was already at my target of 32 eth at around $300. Something like 5% of your allocation for smart contract chains is probably fine. I know some people that just bought ETC in order to stack more ETH on the swings, that's fine too (if you know what you're doing).

cypherpunk politics, essentially

>hackers exploit an exploit
>much monies/ETH in an exchange lost
>punks say that's an aspect of decentralized financial systems
>similar thing happened with bitcoin earlier, bitcoin devs decided against rolling back the stolen transactions
>Vitalik turned back the stolen transactions
>punks seethe
>they make their own fork of ETH

I personally think rolling back the transaction was the proper decision

I lost money in eth. Why dont they roll back the chain for me?

It be the real Etherium after the merge, ETH will be abandoned.

Bump for interest

Attached: Transgender.png (604x653, 320.01K)

It is very efficient at enabling successful 51% attacks.

Its the classic version of ethereum