Eth Classic Buyers about to learn about the crypto markets quickSupply imbalances stemming from the 51% attacks have left exchanges fearing chain rollback. If you are buying ETH classic and dont know what that means, get ready to lose some money.
Fact: it takes 40,000 confirmations to move your coins onto Kraken. It takes 10,000 confirmations to move coins from cold storage onto Coinbase Pro.
CB Pro has restricted Market Buys and Sells.
Since it would take me over a week to move ETC to an exchange, the buyers are simply overwhelming the supply because sellers cannot get their coins to reach the exchange fast enough. This is evident in the wide range of price quotes on different exchanges. Arbitrage is impossible because exchanges require so much time to move the coins. This market is very inefficient in my opinion, and the fact that if I wanted to sell, I couldn't makes it even worse.
The time to buy ETC was at $10 anyway, and the fact that Robinhood offers ETC, but no way to move it is setting up FOMO Noobs with some massive potential losses WHEN OG HODLERS DECIDE TO WAIT 7 DAYS TO MOVE THEIR COINS TO DUMP THEM IN TRADE FOR PRODUCTIVE ASSETS LIKE ETHER.
