Topic: Whats up with ETH? Price dropped to $9.3 (Read 1690 times)

That is because it will have another hard fork.

Hard Fork No. 4: Spurious Dragon

Posted by Hudson Jameson on November 18th, 2016.
The Ethereum network will be undergoing a hard fork at block number 2,675,000, which will likely occur between 15:00 and 16:00 UTC on Tuesday, November 22, 2016. A countdown timer can be seen at https://fork.codetract.io/. The Morden test network will be undergoing a hard fork at block number 1,885,000.

As a user, what do I need to do?

Download the latest version of your Ethereum client:

Latest version of Ethereum Wallet/Mist (v0.8.7)
Latest geth client (v1.5.2)
Latest Parity client (v1.4.4)
Latest ruby-ethereum client (v0.11.0)
What happens if I do not update my client?

If you are using an Ethereum client that is not updated for the upcoming hard fork, your client will sync to the pre-fork blockchain once the fork occurs. You will be stuck on an incompatible chain following the old rules and you will be unable to send ether or operate on the post-fork Ethereum network.

Importantly, if your client is not updated, it also means that any transactions you make will still be susceptible to replay attacks.

What if I am using a web or mobile Ethereum wallet like MyEtherWallet or Jaxx?

Ethereum websites and mobile applications that allow you to store ether and/or make transactions are running their own Ethereum client infrastructure to facilitate their services. Generally, you do not need to do anything if you use a third party web based or mobile Ethereum wallet. However, you should still check with your web or mobile Ethereum wallet provider to see what actions they are taking to update for the hard fork and if they are asking their users to take other steps.

In particular, you should ensure that transactions are generated with the new replay-protected EIP 155 scheme.

What do I do if my Ethereum client is having trouble syncing to the blockchain?

Make sure you have downloaded the latest version of your Ethereum client.

If you are using Geth or Mist, refer to this Ethereum StackExchange thread.
If you are using Parity, refer to this section of the Parity wiki.
Why are we proposing to hard fork the network?

“Spurious Dragon” is the second hard fork of the two-round hard fork response to the DoS attacks on the Ethereum network in September and October. The previous hard fork (a.k.a “Tangerine Whistle”) addressed immediate network health issues due to the attacks. The upcoming hard fork addresses important but less pressing matters such as further tuning opcode pricing to prevent future attacks on the network, enabling “debloat” of the blockchain state, and adding replay attack protection.

What changes are a part of this hard fork?

The following Ethereum Improvement Proposals (EIPs) describe the protocol changes implemented in this hard fork.

EIP 155: Replay attack protection – prevents transactions from one Ethereum chain from being rebroadcasted on an alternative chain. For example: If you send 150 test ether to someone from the Morden testnet, that same transaction cannot be replayed on the main Ethereum chain. Important note: EIP 155 is backwards compatible, so transactions generated with the “pre-Spurious-Dragon” format will still be accepted. However, to ensure you are protected against replay attacks, you will still need to use a wallet solution that implements EIP 155.
Be aware that this backwards compatibility also means that transactions created from alternative Ethereum based blockchains that have not implemented EIP 155 (such as Ethereum Classic) can still be replayed on the main Ethereum chain.
EIP 160: EXP cost increase – adjusts the price of `EXP` opcode so it balances the price of `EXP` with the computational complexity of the operation, essentially making it more difficult to slow down the network via computationally expensive contract operations.
EIP 161: State trie clearing – makes it possible to remove a large number of empty accounts that were put in the state at very low cost as a result of earlier DoS attacks. With this EIP, ’empty’ accounts are removed from the state whenever ‘touched’ by another transaction. Removal of the empty accounts greatly reduces blockchain state size, which will provide client optimizations such as faster sync times. The actual removal process will begin after the fork by systematically performing `CALL` to the empty accounts that were created by the attacks.
EIP 170: Contract code size limit – changes the maximum code size that a contract on the blockchain can have. This update prevents an attack scenario where large pieces of account code can be accessed repeatedly at a fixed gas cost. The maximum size has been set to 24576 bytes, which is larger than any currently deployed contract.

That is really stupid to say as same can be said for btc. It was 200 dollars not so long ago. Ether is a good project, probably the best among crpytocurrencies. Its price will flactuate but in the long term, just like bitcoin, it will be good to hold.

And what is the hot topic right now if I may ask ?
I think now the pump for BTC is the big news everywhere and trying to answer, will this go on until it reaches $1k again ? or go even beyond (bets on a $2.5k in the coming months) ?

Maybe we will see a rise after the next fork in a few days.

Most altcoins are down a little bit or sideways.
Hype of Zcash release still dying down.
I expect ETH and related projects like Augur to do decently long-term, but its not the hot topic right now.

ethereum has always been like a dump waiting to happen around the corner and it is no surprise that its price has been going down, specially with the bitcoin price rising and looking promising.

if you want my advice you should always keep your money in bitcoin only and right now it is hard to say if it is a good time to sell or is it too late already.

That is right. That is limited amount of money playing the market. People are more interested in bitcoin, so the price of other coins are low.

Are you referring to the DDOS that was happening?

ETH is probably paying the price right now for the network issues it has had in the past 2 months (the network attacks).

It's just the rattling of confidence more than anything else. as btc eases down in coming weeks, ETH will ease up.

Never try to swim against the trend.The BTC trend is up, there will be corrections but neverthless the trend is up.

The money on the digital market is limited, so when BTC up the rest down.But there is a chance for Ether is proof of stake, POS.Ether can differentiate from the rest of the altcoins.We will wait and see.

Damn, if you have 2000 ETH, that's impressive.  However if I were the one holding such a steaming pile of shit, I think I'd probably want to unload it.  Emphasis on load.  Take your profit if you've made one, but I have no faith that ETH, ETC, LSK, or any of the other neuvo-coins are going to amount to anything more than stuff that stinks up exchanges like Yobit and the like.  Buy yourself a nice car or something.

Bitcoin is on a (very) high trend and that leads to all the altcoins to plumb. Just keep your bitcoins in those troubled times.

ussualy bitcoin price up , all altcoin is down
so you have 2000 ETH is good your hold, but you wait eth price up is very long time
because bitcoin price trend is up, must wait bitcoin down eth can up

ETH will have a bump after HF for sure. Maybe not for long and not as high, but right now I'd sit this one out till HF happens:
https://blog.ethereum.org/2016/11/18/hard-fork-no-4-spurious-dragon/

Aside from the HF, BTC has to settle too a little. Three days sounds like a good bet anyway. It seems to me that even right now some of the BTC pump starts flowing back into alts again.

nothing is up with ETH it is following the natural order of things around in the altcoin market. it is going down!
all the altcoins are and have been like this. with exception of 1 or two the rest of them come in with a bang and then slowly after people get tired of the hype, go down and then disappear.

if you want to sell this may be too late already since you have lost so much bitcoin which was so much money if you had it in bitcoin instead. but if you think about dollar terms, the loss was not that much so maybe you could still continue holding!

As previous  members  said   here altcoins price do definitely drop  because of  bitcoins  sudden price increase and  thats  not  a  shocking news  anymore actually because  it  do really happens  when  bitcoin is  on  bull run.  Better to  hold  longer  your Eth  though   because it would  surely  rise  up and dont  intend to sell  it unless if  you  bought  it  on a lower price. Holding bitcoin is good  for long term  but  if  you see some  good  opportunities  then  use that  bitcoin.

Bitcoin price has gone up so all the altcoins are dropping hard, and bubble altcoins like ETH go down too.

but the main reason for this is that price of ETH has gone down from ~0.02-0.017BTC to 0.013BTC and even though the price in USD was the same, this simple drop always causes follow-up dumps and the dumps push price further down.


never focus on altcoins for long term profit!
but maybe it is time to buy some cheaper ETH but it can also be a risky move because there may be more drop but the chance of a pump in the future is higher.


keeping as BTC is always more favorable if you ask me. but i would wait to see what will happen and then decide.

Perhaps it's more related to the btc pump. But the problems pointed out in the eth network surely have an impact on the price, investors are not as sure about the investment as before. If you're looking for longterm profit, I would not recommend investing in altcoins at the moment. Instead, I would prefer to hold btc.

BTC is in a bull market and thus (almost) all alts are dropping.
ETH in paricular had some issues that forced the chain to be forked atleast a couple times in the last months so i can see how some confidence got lost in the project.

Another interesting topic is how many ETH ICOs get bought up very fast, e.g. look at golem.
It seems like people are willing to sell huge ammounts of ETH but there is not really a market for it.

I just came back from my 10 day vacation to see that ETH dropped to $9.30.... I browsed thru the Eth forum but cannot see any bad news leading to that massive drop.

Chance to grab ETH at a cheap price? Or is it time we focus on another altcoin for longterm profit?

PS: I am holding 2000 ETH and have 5BTC to invest or keep as BTC