Although ETC was born out of Ethereum developers incompetency, I think I will give it a chance to prove itself.
I disagree entirely.
Your certainly right about the token economy. Too bad that is happening on ETH right now. The token economy will be blockchain agnostic - let the ETH point stand as a metric of market assessment
You probably want to check out my comments on ETC here, lots of information not often discussed. Why Consensus: the tale of the two Ethereums
After the fork, The Foundation committed to developing the ETH chain after following community support. In the months following this split, development on Ethereum has exploded with a majority following The Foundation's footsteps. It is important to note how The Ethereum Foundation addresses Ethereum Classic's right to utilize the Ethereum code how they see fit. It is this user agnostic property that makes decentralized applications so valuable.
I believe some reading into Barry Silbert and his relationship with ETC is also important in forming your own opinion here. What interests did the established Bitcoin community have regarding hard forks and chain splits? A quick google search on Barry and ETC pumping should give you plenty of material. Please come back and post in the comments if you have questions or ideas.
I left out an important point regarding the code is law arguments made by Ethereum Classic supporters. Ethereum Classic broke their stance on immutability at the very beginning. They certainly don't market any of these changes. They have changed their transaction execution rules to mitigate DoS attacks. This change altered the execution of several Ether containing contracts. Barry Silbert rallied the community around the need to finalize a "monetary policy" - so his investment fund could be considered. They also had the difficulty bomb to deal with. ETC is not the "code is law" they claim. - no blockchain can be.
One thing I agree on is it just makes you think how undervalued steem is! I was lucky to be a part of the ETH bubble in the past few weeks.
I love steem, but I've been looking into some people's opinion of inflation being a problem with Steem... what are your thoughts on that?
My worries as a trader is that some ETH supporters started to think of Tokens as the killer App and if that is the case, the argument for bubble grows stronger. What will be the equivalent of the SEC if ETH turns out to be nothing but an ICO platform. I know nobody want's regulations, but where is the self regulation? Who will make people whole when the bubble burst and 70% of these Killer Apps kill people's life savings?
I don't doubt the token bubble will pop. I can't wait. It needs to.
I'm still passionate about ETH for some of the reasons stated above. I think the market has agreed.
Let's see after the hype dies down.
I can not argue against anything in this answer. It all boils down to wait and see.
make people whole? why should anyone or anything do that? invest at your own risk like anything in life.
Yeah they are going to lose their money. They need to. Some people need to learn the hardest lesson. This is simple economics.
Yeah, I don't want anyone to come to harm. But, for any investment, people need to learn about it and use it in the context of proper portfolio sizing for their overall financial situation. Stocks, real estate, cash savings, crypto, whatever.
If we are going to advocate "something" (i.e. the government) is going to make us whole if we lose money on crypto then we are inviting government to regulate and control it - and kill it. Also, people need to get into their heads the lesson that the more dependent you are on the government the more at its mercy you are - a slave.