Bitcoin and cryptocurrency round-up: 27 February 2018

Posted: 27 February 2018 7:01 pm

What's happening?

A buzz of confusion and mixed messages surround the LitePay launch, NEO holders prepare for an airdrop and Circle acquires Poloniex to become a giant overnight.

Meanwhile, Zclassic prices are sinking low with lacklustre Bitcoin Private fork support, and a look at how tightening regulations only made China's exchanges grow faster.

1. Let's call the whole thing off.

There was a lot of anticipation ahead of the LitePay Litecoin card launch, but it seems to have been abruptly and indefinitely postponed at the last minute, with LitePay calling a launch "imprudent" in the face of "recent hostile actions by card issuers towards crypto companies."

I say potato, you say double charges, surprise cash advance fees and potential sabotage, let's call the whole thing off. It might be for the best.

2. Ontology from above, true ontology from within.

An upcoming Ontology ONT airdrop is scheduled, with NEO holders getting a relatively mild 0.2 ONT for every NEO they hold.

NEO markets appear to be correspondingly mildly excited.

3. Easy as pi.

Circle has become a new cryptocurrency giant overnight after acquiring the Poloniex exchange.

The cordial takeover was accompanied by a flurry of good news for customers and big plans for the future.

4. From ayyyy to Zclassic.

Rigid support for the Bitcoin Private fork initially saw Zclassic prices grow quickly, but a lack of official enthusiasm where it counts has seen prices slacken off again.

With the general consensus towards the BTCP turning to "thanks, but no thanks", Zclassic prices are deflating quickly.

5. Regulation v Darwin.

"Strike me down and I will grow more powerful than ever!"

"We're not striking you down, we just don't like all these dodgy ICOs."

"Oh. Well, I'll grow more powerful than ever anyway."

That's the short of it. For the long of it, take a look at how tighter regulations inadvertently saw China's exchanges go to the next level.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, SALT and BTC.

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