I read through the investment thesis PDF yesterday and wanted to share some relevant notes. I sold more than 90% of my ETC a month after the hard fork, so I hold a negligible amount relative to my overall crypto portfolio and don’t have plans to increase my ETC position. I am very bullish on ETH even after its recent price run-up.
- concentrates on two aspects: store of value (ETC as silver / platinum to BTC’s gold) and enabling a payments and smart contracts layer for the IoT
- liked this line: “Ethereum was designed to be the next iteration of operating systems like Apple iOS or Microsoft Windows, embedded with the enhanced capabilities of blockchain technology.”
- they note, and I didn’t realize, that less than 6% of all ETH outstanding voted on the hard fork issue
- ETC strengths (relative to ETH):
- truly trustless protocol (ie no hard fork)
- no PoS risk, will wait until ETH implements it first and then assess
- hard cap on ETC supply; currently 89M outstanding, will never exceed 230M (likely closer to 210M)
- more decentralized development process unlike Ethereum which is driven by Vitalik and the Ethereum Foundation
- ETC risks:
- the Ethereum Foundation sold 90% of their ETC but still hold a substantial amount
- the DAO hacker still holds 4% of all ETC in a known wallet address
Interesting report and while I personally won’t invest in ETC, was good to understand Barry and Grayscale’s perspective.