Re: double spend as a feature

On 25 July 2016 at 00:44, Jeffrey Cliff <jeffrey.cliff@gmail.com> wrote:

> ...except ethereum classic is trading at 0.92$ and ethereum-non-classic is
> trading at 12.77$....together less than they were not that long before the
> fork was first announced.  That said there are interesting incentives going
> on wrt mining, and a full flight of capital hasn't happened, but still: not
> quite the 'double spend both coins at risen price' effect
>

Good point.  The the price has risen post fork.  More on this story.

https://cointelegraph.com/news/realm-of-ethereum-splits-into-two-coins-volume-hashrate-of-etc-surges

What Id like to point out is that double spending coins in two markets
should now be considered a reality, and not necessarily, a catastrophe.

I suggest that conceptually it's a game changer.


>
> On 24 July 2016 at 16:25, Melvin Carvalho <melvincarvalho@gmail.com>
> wrote:
>
>> Jesse Schell one said, "does anyone remember when the term 'viral' meant
>> bad?"
>>
>> There is a very interesting development in digital payments this weekend
>> when ethereum created a hard fork in order to redistribute capital.
>>
>> The community was split on whether or not this was a good idea, and in
>> the end it happened anyway.
>>
>> But something strange happened.
>>
>> Someone created a fork of the original code base called "ethereum classic"
>>
>> What this meant was that anyone with a balance on either ethereum fork
>> would automatically achieve a double spend of those electronic coins.
>>
>> Contrary to popular wisdom the market has responded by rising the price
>> of both double spent coins, rather than, a flight of capital.
>>
>> We live in interesting times.  We now have two ethereum chains fighting
>> for supremacy with different algorithms.
>>
>> Anyone who bought in has essentially doubled their capital, as of now,
>> due to double spend acting as a feature, rather than a bug!
>>
>
>
>
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