There are two issues I want this post to highlight.
1) The seemingly poor communication from a group of people who have no idea what each other is communicating.
This is bringing false hope and promises continually. It has also continued to have gotten worse after Vitalik stated in February on a dev call before Constantinople finally released that they needed to watch out for hurting the community.
After the price action post. I posted a small blurb of wanting to make a difference as a community to fix this issue.
2) The price action evidence around all of the delays. The patterns seems to be. Top out before dev discussions. Price starts dumping a few days after dev discussions media gets the output which publishes the stories price dumps even more.
I have my theory on why below is occurring others disagree. If we work on point 1. Then delays will be at a minimal and if someone is leaking information early it won’t be of benefit since the whole community will be in the know much sooner.
Price action analysis regarding delays:
October 22 2019 This part is more about the communication, both lack off and uncoordinated: Nothing on Istanbul hard fork that was due to release this month. Last announcement was testnets for Oct 30 and Nov 13. No news of a possible mainnet release. Eth 2.0 implementers suggesting parity with mainnet in 2021-2022. Lubin says 2020. https://blog.aragon.one/aragon-chain/ Interestingly a question was asked off one of the 2.0 coordinators who didn’t seem to see a problem with the secretive nature of the dates: https://twitter.com/dannyryan/status/1184371418282299392?s=20
September 20 2019 Deposit contract delay discussion. Can not see any news sources picking it up. It was posted on ethfinance on September24 AM EST. Price on September 20th was north of 220 on September 23rd price was ranging in 190s-200 next day price went from 203-157
August 24 2019 Dev notes on parity delay of Istanbul. Price hit 203 this day. Announcement of delay on 28th August through media. Price dropped from 187-165 https://www.google.com/amp/s/cointelegraph.com/news/parity-delays-ethereum-network-hardfork-over-implementation-of-eips/amp
June 18 2019: Mainstream media report ETH 2.0 going live on 3 Jan 2020 with deposit contract at devcon. Price was at 260 It took 1 month for devs to correct mainstream media and say that Eth phase 0 will launch in Q1 2020 not Jan 3. Meanwhile price hit a peak of 360 and dumped down to 190 between these two announcements. https://www.reddit.com/r/ethereum/comments/ccvgyv/announcing_upcoming_eth_20_ama_round_2_monday/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Jan 10 2019 Price dropped from 155-123. Jan 15 it was announced a critical bug had been found and would delay Constantinople. Price fell from 120s-100s over next few weeks. Article posted on theory of insider trading: https://www.trustnodes.com/2019/01/16/did-ethereum-developers-engage-in-insider-trading-over-the-constantinople-bug
October 4 2018 Delay of Constantinople testnet https://mobile.twitter.com/peter_szilagyi/status/1047873843023548417?lang=en October 9th testnet live. October 11th price dumped from 223-188 October 15th-20th news releasing of issues with testnet. Delay announced on the 20th.
August 2017 Hardfork due in sepetember https://www.trustnodes.com/2017/08/26/ethereum-hardfork-reduce-issuance-september-metropolis-byzantium-upgrade
Sometime in early September it was delayed to October. When that article came out price was at 330 it went on to hit 390s by early September while the rest of the month, price went from 390-220. Seemingly bottomed out when a final date on September 19 was picked for the hardfork in October 2017. https://www.trustnodes.com/2017/09/19/ethereums-metropolis-hardfork-activated-testnet-zcash-transaction-verified
Price action analysis over.
Community accountability:
I see lots of posts regarding how Ethereum is not a company and we are not stakeholders of the developers. However a significant portion of this group had given their funds for the IPO in the form of bitcoin. Which those funds have been used to give grants etc. Continued to support the chain through outreach, marketing, commitment of time to the network. Many folks spent time building DApps or ERC-20 tokens to help grow the network affect.
If there was no community there would be no pay/wealth for the current dev team.
We need to start realizing our importance to the development work and as a community start pushing help, guidance or taking a stand against the current process or it will consequently always be like it has.
We can be the spark to help guide Ethereum to success by raising the accountability of every single person involved. This is what I believe ETHfinance was built for and the separation from Ethtrader.
Don’t have a dick response. Evaluate my post and respond honestly.
If I can see I’m wrong then I’ll move on out and this will be my last post.
If I see something then I’ll stick around.
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