OK people : We need to talk about this.
We all know Ethereum got "hacked" and after a long debate the community voted for a hard fork to just erase the hack altogether by "forking" from the original blockchain and return almost all the lost ETH to everybody in a new blockchain , todays ETH .
The news here :
http://www.coindesk.com/ethereum-executes-blockchain-hard-fork-return-dao-investor-funds/
Today Some exchanges listed ETC - Ethereum Classic - and everybody is going mad about it.
So.. two blockchains now...
Ethereum and Ethereum Classic ?
Lets see :
The hard forked blockchain , voted by the ethereum community after the news of a DAO hack that locked some 12 million ETH into the hacker(s) controlled accounts.
This is the chain that has virtually erased the DAO hack and returned the ETH to the rightful owners.
This chain is where all your ETH are.
It is live.
It is where the majority of the miners are.
It is where the Dapps ( decentralized apps that live on the blockchain https://dappsforbeginners.wordpress.com/tutorials/your-first-dapp/ ) live and where the hackers have no more interest.
The original blockchain that is not forked and still loaded with ETC ( the old ETH are now ETC on this chain ) including the ETC controlled by the guys behind the DAO hack.
This chain is where all the Pre-fork transactions are.
It is still live.
It is the chain in which the DAO hacker(s) have all the interest.
This chain is here only for :
People that had ETH transaction written on it before the hard fork to be able to withdraw ETC.
A minority ( guess who... ) that has opposed the hard fork to still maintain it.
Funny fact : If you had before the hard fork 100 ETH in your wallet you now have 100 ETH in your wallet and , theoretically , also 100 ETC . It depends on the wallet.
I have found some ETC balance in my Poloniex account myself .
Another funny fact : I see allot of people buying ETC and going mad about it .
The markets might respond in an ETC price increase and a ETH price decrease.
Ok , now why is that a bad thing ?
I mean , let's face it , I just got about the same amount of ETC as I have ETH now !
Great , but that means the hackers behind the DAO hack will receive there hacked ETC as well , right ?
Awesome !
..Or not ?
We all just need to sit back and enjoy the show while all the hard work of forking the ethereum blockchain goes in vein as the hackers still got allot of value on there DAO hack.
