Improvements proposal EIP 867 – What do you think about that issue?

Hi guys,

If anyone of you holds an ETH then it may interest you to watch these 2 videos (link below) or at least to read about Ethereum’s improvements proposal EIP 867, “which details a method to standardize the use of system-wide software upgrades to return funds lost on the platform.”:

https://www.youtube.com/watch?v=UoFZfgXbj5U

https://www.youtube.com/watch?v=lHdwnumnmlg

https://www.coindesk.com/silent-no-more-ethereum-users-spurn-fund-recovery-proposal/

In short: what does this mean? And how can this improvement affect the market?

Correct me if Im wrong, but from my understanding it simply means, that if they would implement their proposed improvement, then all lost ETH will be returned to their owners. Not only in the future, but also those lost within the past years. It’s a great thing for those who lost their ETH, but it’s clearly not a good thing for current investors owning that crypto.

I can only imagine the impact that this improvement could possibly have if all those who lost their ETH in the past few years would get it back and decide to sell it (since now the price is so much higher than even year ago. It will be very tempting to sell and take a profit).

That may possibly have catastrophic effecct. Possibly. It really depends on how future events play out and how this improvement could affect market and current value of Ethereum. After all it’s pretty much impossible to tell how much Ethereum has been lost and can be recovered.

On top of that it’s worth to mention that “Researchers found 3,686 dangerously broken Ethereum contracts”. That may be another blow that may affect the value of ETH:
https://www.finder.com.au/researchers-find-3686-dangerously-broken-ethereum-contracts

If you have been planning to purchase ETH anytime soon or if you have any, then it would be wise to follow up with those two particular topics before you make any financial decision. Having some inside knowledge can give you bigger picture.

ETH went once through DAO fork and it already damaged their reputation at that time. What do you guys think may happend this time around. And what consequences to the market could this improvement possibly cause? Would love to hear your opionion.

Have a great read and please share your thoughts with me.

Cheers,
Piotr

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