Ethereum (ETH)
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an explanation from zerohedgeI assume that (unlike all the price discussion here which is totally offtopic) you are referring to the transaction issues which have led several exchanges to pause ETH withdrawals. Here is what happened:
The badly designed Status ICO clogged up the network yesterday with a huge number of high gas fee transactions, most of which are failing but still filling up the blocks and preventing normal tx's from getting in.
In addition, dwarfpool and perhaps others have set bad defaults on their client software that both actually cost themselves money and also prevent the network from automatically adapting to larger gas volumes the way it's supposed to.
Furthermore, evidence is accumulating that f2pool was actively manipulating transactions bound for the Status ICO, which they participated in themselves, exacerbating the problem. Experts explained weeks ago that bad ICO designs are vulnerable to such attacks, but this appears to be the first time it was actually executed in the wild.
So now, even though the Status ICO is over, there are still a huge number of transactions clogging up the network and the only way to get transactions in is to pay huge fees (which most of the exchanges probably don't want to do). Until it clears out, people are going to be missing ENS auctions, unable to withdraw from many wallets and exchanges, etc. etc. etc.
and you want to put your own savings in here? :eek: Good luck with that. I'll stick to equities.0 -
Looks like it has taken a hiding today.0
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All virtual tokens on the blockchain are tanking right now...........0
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Another boat missed, cryptocurrency scares me, i dont understand it properly, so i stay away. And it seems to awkward to get start with.
Gutted I didnt buy bitcoins years ago though...0 -
I'd recommend coinfloor as an exchange to buy. London-based - though you have to transfer money to Poland.
No disclosure apart from good experiences.0
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