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Ethereum Price may Drop Below $140 as ProgPoW Implementation Rumors Swell

Ethereum price may drop below $140 as progpow implementation rumors swell

Ethereum Price may Drop Below $140 as ProgPoW Implementation Rumors Swell

Ethereum price may drop below $140 as progpow implementation rumors swell


As the top markets try to claw their way out of the hole again, it remains to be seen how successful these attempts will be in the end. For Ethereum, there is a lot of pressure to contend with. Part of the reason is bitcoin’s decline, but there is also some concern over the implementation of ProgPoW. For now, the Ethereum price remains above $140, albeit just barely.

Can the Ethereum Price Remain Above $140?

When bitcoin starts to lose value – albeit ever so slightly – it usually doesn’t take long for all of the alternative markets to go down in price as well. While these losses may not necessarily remain in place for a long time, it puts another wave of pressure on all markets. Such momentum is very common during the weekend, as Saturdays and Sundays are usually synonymous with portfolio losses. This weekend has not bucked that trend, despite some initial excitement on Saturday morning.

As far as the Ethereum price is concerned, the momentum isn’t too promising today. There is a net 2% loss in USD value and a 1.25% decrease in ETH/BTC.  Because of this bearish pressure, the Ethereum value has dropped to just above $140 or 0.0349 BTC. On paper, there is nothing to worry about whatsoever, but it seems likely the value of one ETH will drop below $140 if this trend remains in place for much longer.

It would appear there is some debate as to whether or not the Ethereum developers should implement ProgPoW in a future hard fork. While the developers have confirmed this change is coming, the community has never been too big of a fan of this particular proposal. Major changes like these can help advance the Ethereum ecosystem as a whole, although it will upset some miners in the process. As long as Ethereum remains reliant on mining, keeping the miners happy needs to be the main priority.


Although ProgPoW will upset the balance of Ethereum mining a bit, it remains unclear when it will be introduced. For now, the developers have allegedly confirmed it will occur in “a future hard fork” without going into any specific details. Keeping in mind how Ethereum still has a “difficulty bomb” to contend with, it is evident ProgPoW may help ease the transition from PoW to PoS in the next few years to come.

On social media, there is some excitement regarding the current crypto market trend, although not necessarily in a good way. Jan Groenen, for example, expects bitcoin to drop below $4,000 again, which would also send Ethereum’s price below $140 in rather quick succession. It will be interesting to see if this vision can come true, For now, it seems to be a matter of time until that change happens, although one never knows what the future will hold.

All things considered, it seems logical to assume the Ether value will drop below $140 fairly soon. How long that situation will remain in place, is a different matter altogether. Most of the Ethereum value changes will depend on bitcoin’s price evolution. So far, things do not look too promising, but there is always a chance the situation will improve fairly quickly.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

Published at Sun, 17 Mar 2019 13:00:56 +0000

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Lyn Ulbricht: Ross’s Latest Appeal About “Constitutional Protections and Freedoms for Us All”

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In May of 2015, Ross Ulbricht was sentenced to life in prison without parole for his role in operating the dark web site Silk Road. Exactly two years later, the Court of Appeals for the Second Circuit upheld his conviction and sentencing.

Now in a landmark request, Ulbricht has appealed to the the Supreme Court (SCOTUS) regarding the Second Circuit’s decision. A petition for a writ of certiorari has been submitted seeking a hearing for the overturn of the decision upheld this year by the Second Circuit Court of Appeals.

Ross William Ulbricht respectfully petitions for a writ of certiorari to review the judgment of the United States Court of Appeals for the Second Circuit in this case.

A writ of certiorari is a demand placed upon the lower court that upheld Ulbricht’s conviction and sentence to turn over its records so that the Supreme Court may review them and determine whether further action is needed.

The nine-member Supreme Court, which serves as the nation’s final arbiter in legal matters, is very selective in the cases it hears, often pursuing those with national significance in order to establish precedence or to clarify contradictions in existing decisions. Four of the justices must vote to accept a case in order for it to be heard.

The SCOTUS has a low reversal rate in Second Circuit Court rulings. Thus, even if the case is ultimately heard, there’s no guarantee that Ulbricht will receive relief or be vindicated.

Kannon K. Shanmugam is the counsel of record managing the appeal. Widely regarded as one of the top appellate attorneys in the U.S., Shanmugam was a former law clerk to the late Justice Antonin Scalia and has argued 21 cases before the Supreme Court.

Ulbricht’s court request highlights two important constitutional law questions. The first involves the Second Circuit codification of the government’s warrantless collection of Ulbricht’s internet traffic information. This case would afford the SCOTUS an ideal opportunity to address the Carpenter v. United States warrantless search case doctrine and how it may apply to Ulbricht’s case.

Second, the Second Circuit upheld the court’s original decision to withhold information regarding corruption investigations into two agents from the jury. This decision impacted the sentencing guidelines — a key element in the court imposing a life sentence on Ulbricht. Several justices have previously questioned whether this method of judicial fact-finding runs afoul of the Sixth Amendment.

Reached by phone from Colorado, where she now resides and where Ulbricht is imprisoned, Ulbricht’s mother, Lyn Ulbricht, said, “We are battling for Ross, love Ross and feel that he doesn’t belong in prison, let alone a maximum-security facility. He’s a nonviolent, wonderful person that never meant any harm to anyone.”

She asserts that the U.S. government’s aggressive stance involving the drug war and nonviolent crimes has become quite alarming and believes that if the Supreme Court accepts her son’s case, it will have far-reaching implications for constitutional protections of all citizens.

Lyn Ulbricht says that she’s grateful for the massive outpouring of support on Twitter in response to this Supreme Court filing. “We’ve received lots of support from everyday people who know that this is not about drugs but about a much bigger-picture issue.”

She hopes that this case will shine a light on the unconstitutional encroachment of our government and the media sensationalism that supports it.

“I’m not going to give up, and our family is not going to give up. This is about important constitutional protections and freedoms for us all. So we will continue to talk about Ross and our rights as American citizens.”

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