Ethereum just cannot catch a break. More negative to top the weeks of nothing but negative continue to plague the troubled network.
Just when the smoke was beginning to clear, right when the dust was beginning to settle, right when the two chains of Ethereum were working peacefully and coexisting. BAM, someone comes in and stirs up the entire mess all over again.
Chandler Guo, a Chinese miner, plans to point his 98G of hash power at the original Ethereum network and commence upon a 51% attack. This in an attempt to sabotage transaction confirmations and all because he doesn't like Poloniex’s decision to add Ethereum Classic to it's exchange as ETHC.
I am beginning to think Chandler Guo simply doesn't want any Ethereum to exist on the planet at all.
Poloneix's move is something everyone knew was going to happen before the controversial hard fork and nobody bitched about it too much because they were getting their way. We reported this before the fork happened.
Some miners and efforts have chosen to continue to support the original Ethereum network as an altcoin or alternative digital asset (Ether is technically not a coin), or perhaps the original and the ETHnew is the alt-asset.
It wasn't enough that the elite decided to put the entire network at risk by doing the hard fork in the first place and get their way and their money (the funds stolen from DAO), now this guy wants to destroy ETHC completely. Ever think about the fact that you might damage something and render the chain useless? It might be needed in the future.
This pretty much goes against everything blockchain stands for and also goes to show the immaturity of the young network.
Poloniex was gracious in its support of ETHC as it is with many new digital assets (in this case a new/old one) and it was pretty much expected as we mentioned last week, so the move by Guo is baffling to many. Seriously, if there's a group that wants to support a network, why do they not have that right and what gives Guo the audacity to go against the will of those supporting it?
Deliberately attacking any network is a negative activity regardless of intentions and if Guo does this, there are likely several miners in the community that may come to the aide of ETHC and lend an equal amount of hash power to the network for balance.
That doesn't mean the community necessarily cares about ETHC or agrees with them anymore than they agree with the hard fork that damaged trust in Ethereum. However, no single person or entity should be allowed to do this and the only way to keep it from happening is to support it.
Guo's actions are dangerous and may also end up creating a stronger ETHC network while increasing its value inadvertently resulting in the exact adverse of the intended affect. We have to remember that there is allot of dormant hash-power out there and pouring gasoline on the fire may not result in putting it out despite its liquid and seemingly extinguishing appearance.
When people take actions like this they generally elicit an opposite and equal reaction in subsequent response. Situations like these tend to create rebellion.
Not to mention they just make you look like a douche.