Ethereum Classic VS. Ethereum – Who Will Win?

what’s going on guys it’s the crypto lurk here today we’re gonna be talking about etherium classic and in order to do that we need to talk about aetherium a little bit as well so I’m gonna be comparing the two of those projects trying to understand what the future for aetherium clastic might be but all after a quick shout-out to everyone who has been liking the videos and subscribing to the channel and of course you know that is for you know new subscribers and for old subscribers guys thank you so much for continuing to support the channel and a quick note as well if you guys do want to continue to support me and support the channel you can support me over at patreon big shout out of course to a Kevin from Kansas City the first top patron on patreon yesterday really exciting stuff and of course I can follow me over on us steam it as well or on d tube at lark songbird links for those are all down below guys and a quick disclaimer this is not professional financial advice it’s just one dude talking about cryptocurrencies on the Internet let’s get into it now everybody who has been watching the show for a while realizes that there’s two the theorems but you might not know why if you haven’t been watched in this the crypto show for a long time so I thought is really a good time to talk about them now I’m not very big on a theorem class so we’re going to do an unbiased review here and try and actually look at all the pros and cons and really try and break it down for you guys so if theorem is basically a household name at this point would you be surprised to know that aetherium is actually the forked coin work me it is the forked coin indeed so there was a hard fork in aetherium broke off from aetherium classic which is why of course anytime that there are these Bitcoin Forks the whole community kind of gets a bit worried about what’s going on of course hard Forks can be a good thing for Bitcoin for example we saw that a hard fork was quite a positive move forward and actually I think the UH aetherium hard fork was a positive move forward so now the Bitcoin was a positive move forward because now we have you know Bitcoin cash which is very profitable for the people with a mind that but more importantly Bitcoin much like honey badger give a damn just kept on going like oh you want to fork me okay well fork you then I’m just gonna keep on going over here and get to $5,000 so look you know Forks are not a bad thing nothing to be afraid of but it’s really interesting to actually look at the story and see what happened now if we have you know a theory I’m over here of course capturing a huge amount of business currently there at a almost twenty nine billion dollar market cap whereas good old aetherium classic here is only at 1.1 billion dollar market cap a astronomical difference absolutely astronomical of course the price for one of the year in classic is only at 12 bucks 50 whereas the price for one etherium is over $300 or course point zero seven Satoshi or point zero zero to nine Satoshi gigantic difference how do we get here what happened let’s talk about the story there was this thing called the Dow the Dow was basically the etherium foundation wanted to set up a venture capital fund that would let people invest in DAPs it’s a pretty good idea and people in the community were really excited about it however there was a problem in the code a hacker exploited that took about 50 million dollars worth of aetherium and this is where all the drama happened the drama was this there were a lot of debates about what should or shouldn’t be done because in the smart contract you had to wait 28 days in order to take that aetherium out so the hacker even though he stole 50 million dollars was still locked in by the smart contract and he had his 50 million dollars in a theory I’m sitting there so the community started to debate the topical what should we do there were some people who said you know what we just have to let it happen because the code is the law that’s what we’ve talked about it sucks but it needs to go forward unfortunately we can’t go and change the code because that would just defeat the whole purpose of having in a mutable ledger which you know is what this is supposed to be whereas another camp in the etherium community came out and said no that’s ridiculous we’re not gonna let this guy get away with fifty million dollars of people’s money you know we were the ones who were promoting and trying to guarantee that project we’re going to you know change the code we’re gonna refund the people their money and this is where the split happened right there was talk of a soft fork but the soft fork had its own problems so in the end a hard fork was decided and aetherium classic kept moving forward with the original coding you know without breaking the immutable ledger so to speak in aetherium as we know it today if Tyrion foundation etherium became actually the hard fork it was the forked coin from the code because they changed the code so it’s a very interesting story what happened and there’s a lot of pros and cons of this but I just wanna give you guys a quick comparison as well since you know they’re both my noble coins currently if your remaining aetherium and he’s probably seen a massive decrease in your mining profitability recently but if you are mining aetherium you will be getting about fifteen hundred bucks for a five aetherium per year or if your mining aetherium classic you’ll get a hundred and twenty nine aetherium classic for that same amount so if you really are a big believer in aetherium classic and think that it’s gonna you know massively profit over time if theorem classic is definitely the way to go because you get almost no aetherium mining these days cuz the difficulty has increased so so much now what gives value to aetherium why is aetherium classic only a billion dollars and aetherium is twenty nine billion dollars you guys know the answer it’s all about these icos it’s all about the business it’s all about people actually using it it’s really hard to find a list of nei SEOs that have been done on theorem classic I found a small list here nothing I’ve ever heard of which is fine you don’t have to have heard of them but nevertheless there’s not really much going on on the eye in in terms of the ico space with theorem classic if you come over here and look at I still alert let’s just go down through the list here for a minute just let this look here I don’t know my god how many ICO is Arthur Louise still going still ghostly i steeped this up now oh my god oh my god we’re still going oh my god Oh let it end oh let it end how are there were ICS ah okay so I’m being silly guys but this this this hammers home a very salient point the majority of this insane amount of ic o–‘s are all on etherium guys they’re not building them on etherium classic and I don’t care where you stand in the ideological debate business is deciding the market is deciding who the winner is gonna be here in the winner currently by about a twenty nine x factor is aetherium and it’s only gonna get bigger guys because if theorem is the one in which people are building their i ce o–‘s that’s where it’s happening it’s the network that’s being used and you can’t argue with that the market is deciding guys ideology doesn’t matter the market matters in this situation all of you guys probably have heard of italic that’s this guy here he’s pretty famous dude very very few of you have probably heard of berry berry berry is the one who is backing aetherium classic now there are a few other people involved quite a few of the original team from aetherium went with the hardwork etherium and are now you know continuing to work at the etherium foundation a much smaller group stayed with etherium classic you know those sort of ideologues who didn’t want to let the code to be changed essentially those guys kept on keeping on basically let’s have a look at some of the just a straight-up rundown of the pros and cons here because I think this actually provides a pretty interesting way to think about it so what are the pros of aetherium classic yeah the philosophical purity great that’s worth something I suppose it does have some backers it’s not that there are no names involved it’s capped at two hundred and ten million currently etherium is uncapped it’s staying true to its decentralized idea and the code is true and that what I say with that when you write add a pot with the etherium foundation you have to conform to what aetherium foundation wants you to do when you do it on aetherium classic you have more freedom to you know stay true to your coding now what are the big cons here obviously I didn’t write this one one of the biggest cons is that the market is not supporting aetherium classic to the level that you would want it to be supported at and hey it is number 11 on quaint market cap and it has been basically in the top 15 forever so you can’t count aetherium classic out completely you know if you look at the daily trading volume it’s huge one hundred and twenty two million dollars in 24 hours that is nothing to be shy about you know and if you look at the trading volume with aetherium 565 million dollars in 24 hours those are you know yeah aetherium is doing a lot more but the Ihram classic that’s nothing to be shy about at all there’s a serious amount of trading going on with aetherium classic that’s something to keep in mind okay of course Vitalik and a few that are actually a lot of the rest of the original aetherium team have left there will be no updates well there will be updates um let’s say there won’t be updates but cerium is about to go from being the market leader to like the untouchable market leader in this sphere things like the zero knowledge proof the Raiden Network you know moving to part proof of stake all of this stuff is just gonna propel aetherium beyond anything that really can be imagined right now it’s gonna become such a big big player that really aetherium classic just isn’t gonna be able to compete realistically with the kind of updates that aetherium is coming up with and the kind of big backing that aetherium has and it just really lets me know that there is really a lack of use cases for aetherium classic moving forward and look it still does have that etherium coating so yeah you can hop on there and you know write your dabs you hop on there and right launch ratios but it’s just it’s just not getting the market behind it obviously some of the pros with aetherium itself massive growth in the market obviously but Alec and a lot of Keith those key players are still there the updates are constantly happening we talked about a lot on this program you see a lot of people talking about except stuff is really really really important more people are mining it that’s not necessarily so important going forward you know because they will be switching over to proof of stake at least partially right there’s major major companies involved with a theory which you could look at and say that’s a con su because I know a lot of us in the crypto space were sort of you know anti corporation and anti big business but nevertheless twenty nine billion dollars missed a billion dollars aetherium is backed by some major major companies out there guys some of the cons of aetherium it does go against the principles of the blockchain the the code is law was how the Dow was advertised to people and they basically immediately broke that agreement as soon as something went wrong and so again that is one of the things they they have changed the code and they might do it again in the future again is that necessarily a bad thing I don’t know I don’t know sometimes things need to change I personally feel like it was the right decision for them to make over at aetherium and I understand all the the ideologues who said okay theory and classic this is the coin this is the one I’m sticking with we’re not changing the blockchain we have to you know stay true to our principles I get it but then there’s business guys so there’s this definite ideological battle in that way between the two coins some people say that the refund of those 50 million dollars worth of thorium tokens was essentially a bailout you know and a lot of people disagree with such concepts theorem currently is uncapped so it will continue to in well inflate over time but to be honest the the the regular rate of new etherium being generated is so small I don’t think it’s a big issue you know mining is becoming super difficult and the proof of stake won’t probably have a gigantic payout either so I feel like inflation is under control and that’s not such a big deal now look the some of the perhaps the biggest cons of aetherium are that you need to use the etherium foundation code and it’s got that centralized control of the etherium foundation whether those are should be concerns ears as an investor whether if you are planning on going and launching your IC o—- your dap over there that should be a concern of yours as well i don’t know i don’t see it as being a big concern but I didn’t want to present the facts here for you guys so you can have something to think about and I got to thinking about it you know what I kind of felt like Yahoo versus Google you guys remember Yahoo got that thing they still exist would you would you believe that yeah he’s still going yeah he’s still gonna make about a billion dollars a year in fact that is almost the same of course not the market cap of Yahoo with that you know they make about 1.3 bill dollars a year whereas a theorem is more like the Google right and currently Google’s worth us six hundred and forty five billion dollars obviously aetherium has a long way to go to catch up with Google but nevertheless I think it provides a decent comparison moving forward in the space that look if theory in plastic I understand why those guys did what they did I don’t think that the market supports it and yes I know there’s a huge trading volume for aetherium classic and we’ve seen some good run ups on the price recently I just don’t think that long term aetherium classic is going to have that kind of staying power and okay it might be a top 20 currency or a top 30 or top 40 or top 50 currency for years and years and years but I don’t know I think etherium is just gonna you know be a hundred billion dollars you know in a year’s time as more and more and more business comes to etherium versus aetherium classic they’re just not getting that that critical mass of business and you really need that you really really need that guys that’s again something totally important anyway maybe I’m totally wrong maybe disagree with me maybe the code should be immutable maybe you know aetherium is basically uh you know corporate devil in disguise you guys let me know about in the comments section down below I know you will and I really appreciate you know all the comments on the videos and I really appreciate all the discussions that go down in the comments section it’s awesome we all learn together it is the crypto community guys and it’s a great place thank you for joining into the video today I hope you really enjoyed it long live the blockchain and peace out the next time

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