Categories: Ethereum

600,000 ETH Withdrawn From Bitfinex Vote For ProgPoW

Click here to view original web page at www.trustnodes.com

A massive whale or group of whales wants to see ProgPoW go through with $73 million worth of eth voting in favor of it in the past 24 hours.

That has shifted the eth holders vote from close to unanimously against to now just 23% against while 76% of the eth cast is currently in favor.

Most of the eth that has voted in favor of ProgPoW come from an account that withdrew from Bitfinex 450,000 eth about two years ago during circa March 2017.

The funds stay in that 0x900 account until they are withdrawn a month ago to the address that voted in favor of ProgPoW at about 2AM London time, meaning the holder is probably an American.

Another address that voted at about 8AM London time today, withdrew 100,000 from Bitfinex 41 days ago and straight on voted for ProgPoW without further changing address.

Likewise another address withdrew from Bitfinex close to 60,000 eth 41 days ago and without changing address voted in favor of ProgPoW at about 2AM London time.

That suggests these addresses belong to the same person or entity, with it unclear at this stage who that entity is, but they might have some relationship with Bitfinex which they have trusted with such huge sums of funds even as Bitfinex keeps experiencing difficulties with fiat withdrawals.

It’s unclear whether they have used Bitfinex simply as a way to obfuscate the trail of money movements as now one can’t easily see when these sums were deposited to Bitfinex or by what address.

Alternatively, the holder might have used Bitfinex to actually trade with these funds or perhaps they’re trying to suggest they purchased the eth.

Whale War in the Voting Booth

Martin Köppelmann of Gnosis voted with close to 200,000 eth against ProgPoW yesterday, publicly stating:

Just voted for Gnosis on https://t.co/2jTMlGehGa
In part because I generally think we should develop and cultivate a wide range of signaling tools and I want to support those efforts. In part however also to demonstrate how "broken" they are individually nevertheless.

— Martin Köppelmann (@koeppelmann) February 14, 2019

He previously has come out against ProgPoW, but now a 3x bigger whale has been able to tilt the three days old vote.

Suggestions has been made that this vote is not binding, including on the voting page itself, but as the proposal to change ethereum’s Proof of Work algorithm is controversial, it is unclear how else a decision can be made.

Just as it is unclear how long this vote is meant to last, with previous comparable votes lasting between a week and a month.

Copyrights Trustnodes.com

That […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: ethether

Recent Posts

Bitcoin Is Up Against An Extremely Important And Powerful Resistance Zone On The Monthly Chart: The Kijun-Sen (Base Line)

We can identify the price action causes of why price is finding it difficult to move higher by analyzing longer… Read More

34 mins ago

BTC ATM goes missing and no one notices

When you think of thieves stealing an ATM, the mind jumps to the idea of an exciting crime. Maybe there’s… Read More

34 mins ago

Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark… Read More

35 mins ago

Researchers Concur Current Bitcoin Market Cycle is Only Just Beginning

Bitcoin price cycles can be influenced by a number of factors, FOMO and public sentiment is one, and mining profitability… Read More

35 mins ago

Hopes for Bitcoin as China’s Renminbi Drops to 11-Year Low

A recent plunge in the bitcoin price is looking to negate some of its losses as China’s currency weakens to… Read More

35 mins ago

Why Bitcoin Rules in the ‘Insane’ World of Negative Interest Rates

Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source:… Read More

35 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More