Ethereum Classic
Ethereum Classic (ETC): The Cargo Cult of Crypto, Waiting for a Miracle That’s Not Coming
In a world where innovation is the name of the game and Proof-of-Stake reigns supreme like the fresh new king on the blockchain throne, there exists a brave and loyal tribe of believers clinging to their legacy. No, we’re not talking about a group of eccentric followers waiting for their extraterrestrial spaceship to land (though, honestly, that’d be more believable). We’re talking about the dignified and steadfast holders of Ethereum Classic (ETC), the crypto equivalent of a cargo cult that still worships the blockchain gods of yesteryear—while everyone else has moved on to greener, more profitable pastures.
Welcome to the Blockchain Lost Tribe.
The Stubborn Yet Noble Believers of the Immutable Chain
Ethereum Classic is, of course, the original Ethereum—before the Big Split, before Vitalik and Co. decided that Ethereum should live in the future, secure, scalable, and completely functional, without the baggage of past hacks and vulnerabilities. But for the select few who were there for the Great Schism in 2016, Ethereum Classic became something more than just a cryptocurrency. It became a symbol. A symbol of resilience, of holding on, of defying change. And for a handful of dedicated hodlers, it’s a testimony to the idea that "stubbornness" is a virtue when you’re emotionally invested in a coin that hasn’t really done much since you bought in at its peak price of $117 in 2021.
That’s right. Ethereum Classic’s all-time high now feels like a fever dream, a distant fantasy for its cult followers who can still be seen huddling around their laptops, refreshing coin tracking apps, hoping—praying—that the price of ETC somehow magically rockets back up to those blessed days. It’s like watching your friend who still believes Dogecoin will hit $1 after Elon’s SNL appearance. Except Ethereum Classic isn't even trying to tweet its way into relevance.
"But It’s Immutable!" The Battle Cry of the Eternal Optimists
Ask any Ethereum Classic holder why they haven’t sold their bags, and you’ll get the same well-worn response: “It’s immutable! We’re keeping the true Ethereum spirit alive! This is the blockchain that will never change, no matter what!” And sure, while the immutability aspect might have been a noble cause back in 2016—before the chain was nearly orphaned by hacks, 51% attacks, and a generous helping of ghost-town vibes—it’s hard to argue that the Ethereum Classic vision is anything more than an odd cargo cult at this point.
In the grand blockchain ecosystem, where Proof-of-Stake has already taken the throne (and everyone is happily staking their Ether for controlled inflation rates), Ethereum Classic seems more like a relic of the past. It’s the abandoned island in a sea of booming chains, where traders get a hearty laugh out of the low trading volumes and exchanges either delist it or keep it around out of pity—like the crypto equivalent of that old forgotten arcade game in a dusty corner of your local convenience store. Sure, it’s there, but it’s not really doing anything, and no one plays it.
51% Attacks: The "Viral" Sensation of the Blockchain World
If you’ve ever wondered what it’s like to be part of a club that regularly gets 51% attacked, just ask an Ethereum Classic holder. It’s like a rite of passage—every couple of months, there’s a new story about the chain being attacked, blocks being re-org’d, and the poor ETC community getting a front-row seat to the chaos. It’s almost like they’re playing the “we survived another attack” game to validate their faith, even as the world around them keeps evolving. Meanwhile, Ethereum, the chain they split from, casually switches to Proof-of-Stake and leaves Ethereum Classic’s insecure, stagnant blockchain in the dust like an old Atari console collecting dust in the basement.
But hey, it’s immutable, right?
Exchanges Pitying ETC Holders: "Here, Have a Coin"
As exchanges like Binance, Kraken, and Coinbase happily list Ethereum’s Proof-of-Stake version (ETH), they’re starting to get a little... annoyed with Ethereum Classic. After all, it doesn’t bring in the volume, and it doesn’t make them much money. So, with a heavy sigh and a begrudging shrug, some exchanges leave ETC listed just because they feel bad. It’s like that one friend you keep in your social circle just because they’re always there, even though they don’t add much to the conversation.
Of course, there are a few exchanges that might delist it because—well—it’s just not profitable. It’s like the crypto equivalent of a high school popularity contest where Ethereum Classic is the awkward kid in the back of the classroom, hoping someone will notice them while the cool kids (Ethereum, Solana, Polkadot) get all the attention.
And yet, the ETC faithful soldier on, holding their bags like proud participants in a reality TV show, all hoping for that dramatic comeback that will never happen. They’re the crypto equivalent of the clowns who bought Dogecoin before Elon’s SNL appearance, waiting for a miracle that was never going to come.
The Future: Ghost Chains and Broken Dreams
So here we are, years after the initial peak, with Ethereum Classic priced at around $18—far from its all-time high of $117. And the holders? They remain steadfast, perched on the metaphorical mountain like the cargo cult believers that they’ve become, waiting for the great blockchain deity to finally reward them for their faithfulness. Sure, the Mainnet has moved on, and Ethereum Classic remains stubbornly stuck in the past with a dwindling user base and no real future. But hey, they’ve got their immutable blockchain. They’ve got their spirit. They’ve got their hope.
Isn’t that all that really matters?
In the grand tapestry of crypto, Ethereum Classic has become something of a sideshow, a tale of a chain that could have been, but wasn’t. For every ETC believer still clutching their dwindling supply, there’s a part of them that knows deep down—just like the clowns who bought Dogecoin at its peak—that maybe, just maybe, they’ve been left behind. But at least they’ve got their immutable chain, right?
But please—don’t hold your breath for another ATH anytime soon.
