Note from the CEO: Fight, fight fight. A previous post explained why “Ethereum succeeded where bitcoin failed” so now, in rebuttal, read how bitcoin succeeded where Ethereum failed. Maybe we could get both sides into a ring and have a “pay for view” smack down.
“Ethereum recently hard forked their blockchain to reimburse users who were affected by a poorly structured smart contract, known as The DAO. The hard fork was cheered as a great success shortly after it was initiated, and some supporters of a Bitcoin hard fork for the purpose of increasing the block size limit even took the opportunity to claim that hard forks aren’t as scary as some make them out to be.
Of course, one of the realities of hard forks is that you don’t know how “successful” they are until trading of each blockchain’s tokens is allowed to take place on the exchanges. While the vast majority of mining power had initially moved to the new, forked version of the Ethereum blockchain, speculators began to trade tokens from the original chain (known as Ethereum Classic) on Bitsquare and Bitcointalk. Then, Poloniex decided to list Ethereum Classic tokens for trade, and speculators were given a chance to tell the world how they think each chain should be valued.”