Ethereum’s Ratio Falls Against Bitcoin as Issuance Client Goes Out

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Ethereum network stats, Dec 2019

Ethereum’s ratio has fallen 5% against bitcoin in the past week as the oldest cryptocurrency starts gaining on the smart contracts platform.

Ethereum’s value fell to 0.0196 bitcoin, down from ₿0.0206 with the ratio falling significantly from the high of ₿0.12 in January 2018.

If ethereum had kept that ratio it would now be worth $900. Instead, it’s at under $150.

This recent fall might be due to the planned delay of the difficulty bomb which is to be put off for the third time, with it to not be activated again for circa two years.

Unlike all previous delays, there will be no issuance reduction this time, with there being no public discussion of ethereans in general regarding what should be done.

Instead some devs, some PR reps and some miners, just decided among themselves that it should be delayed for two years without any issuance reduction.

Based on that decision Péter Szilágyi, Team Lead at the Ethereum Foundation, released the client that delays the difficulty increase without an issuance reduction. The release says:

“Geth v1.9.9 is yet another hard fork release… v1.9.9 ships and enables the next hard fork, Muir Glacier, scheduled for block #9200000, expected around the 6th of January, 2020 (and block #7117117 on Ropsten, expected more or less around the same time).”

Usually the testnet forks first, but they’re going straight to live this time in a hurry even though block times have reached 30 seconds previously without any problem, while now they’re at the 15 seconds they’re meant to be.

Furthermore last time it took months of discussion on what should be done, with big conference calls that included representatives of miners and holders.

This time the client is released even before the EIP’s review end date of 12th of December 2019 because “there’s no time for bike shedding on this one,” according to Szilágyi.

Copyrights Trustnodes.com

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