Ethereum, or ETH is the #2 coin, right behind Bitcoin. It has always been my 2nd favorite coin and it has huge potential. Those in the know won't be surprised if at some point it comes out the winner over BTC.
ETH has a little brother called ETC. ETC stands for Ethereum Classic. Last summer ETH went through what is called a "hard fork". That is when the codes branch off the code in a new direction. They make small tweaks all the time and send out a new build. But when they make a large change, that requires a fork in the code. In this case when the forked version came out, a lot of miners were upset with the changes and they refused to run the new version of the code. So we ended up with 2 versions of Ethereum.
Because the major exchanges had all already supported the new version of Ethereum and they stuck with the existing ticker of ETH, Now that there was this old version hanging on, they needed a ticker symbol in order to list it alongside ETH, so they called that ETC, or Ethereum "Classic" as-in the version that did NOT include the changes.
What caused the Fork? Well, that's a whole different article. If you are interested, just search on "ETH" and "DAO" and you'll see the blood and guts story of how it was hacked and millions of dollars worth of coins stolen. ETH was an attempt to prevent the hackers from cashing in on their ill-gotten gains.
So, what's up with ETH? After many many months of not much activity, it is flying up in the charts these days. I held a lot of ETH when it was $12 all the way down to where it fell after the fork, in the $6 range. I held it for many more months and nothing happened. As much as I love ETH, I couldn't keep holding a coin that was not performing like all the other coins, so I sold about 50% of my holdings. Now I wish I hadn't.
ETH is currently at about $220 per coin. I read a lot of articles lately predicting a price of around $550 before the year is out, if not before the summer is out. I think that is very likely. I think ETH will continue to grow and at some point maybe even overtake BTC.
ETC is also finally moving. I held 1000's of those coins when it was in the $1 range. Now it is at about $15 and expectations are that it should find a home somewhere around $80-$100. That's a better return than ETH if it plays out that way.
You can go with ETC if you wish, but the downside to ETC is it doesn't hold as much long term potential as ETH. ETC just doesn't have the development team and momentum that ETH has. So, if you are buying ETH or ETC, I would buy some of each. ETH for the long run and ETC for the possible triple digit returns.
Because the major exchanges had all already supported the new version of Ethereum and they stuck with the existing ticker of ETH, Now that there was this old version hanging on, they needed a ticker symbol in order to list it alongside ETH, so they called that ETC, or Ethereum "Classic" as-in the version that did NOT include the changes.
What caused the Fork? Well, that's a whole different article. If you are interested, just search on "ETH" and "DAO" and you'll see the blood and guts story of how it was hacked and millions of dollars worth of coins stolen. ETH was an attempt to prevent the hackers from cashing in on their ill-gotten gains.
So, what's up with ETH? After many many months of not much activity, it is flying up in the charts these days. I held a lot of ETH when it was $12 all the way down to where it fell after the fork, in the $6 range. I held it for many more months and nothing happened. As much as I love ETH, I couldn't keep holding a coin that was not performing like all the other coins, so I sold about 50% of my holdings. Now I wish I hadn't.
ETH is currently at about $220 per coin. I read a lot of articles lately predicting a price of around $550 before the year is out, if not before the summer is out. I think that is very likely. I think ETH will continue to grow and at some point maybe even overtake BTC.
ETC is also finally moving. I held 1000's of those coins when it was in the $1 range. Now it is at about $15 and expectations are that it should find a home somewhere around $80-$100. That's a better return than ETH if it plays out that way.
You can go with ETC if you wish, but the downside to ETC is it doesn't hold as much long term potential as ETH. ETC just doesn't have the development team and momentum that ETH has. So, if you are buying ETH or ETC, I would buy some of each. ETH for the long run and ETC for the possible triple digit returns.
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