Bitcoin and cryptocurrency round-up: 6 February 2018
What to know today.
The bloodbathhouse and its bloodbathers, bullish crypto testimony from the USA and Weiss's explanation of bitcoin's C grade.
Plus we conduct a postmortem on the deceased and ingeniously scammy Monero Gold coin and conduct an exclusive interview with the very much alive Western Union.
1. Bloodbath XVIII - Biggest loser edition
The crypto markets are shedding those pounds and paying for slimmer figures with blood, sweat and tears. Mostly blood.
Many of today's contestants managed to drop a full third of their body weight in 24 hours against all medical advice.
2. Cryptocurrency will be more popular than The Beatles
Did you ever think you'd hear a sentence like that uttered in front of the US Senate Banking Committee? If you said no, you're absolutely correct.
The CFTC Chairman never said crypto was bigger than The Beatles (or Jesus), but his strikingly optimistic testimony wasn't too far off.
3. Weiss to bitfans: Deal with it
Critics of Weiss's cryptocurrency ratings had a lot to say about the C+ grade given to bitcoin, the original crypto.
Now Weiss has hit back, with a 14 page report that essentially says the rating was based on tangible performance criteria rather than bitcoin's sentimental value.
4. Cause of death: Drowned in a pile of money
Monero Gold was an ingenious, technically impressive and flawlessly executed scam.
The postmortem finds that it had 1,157,920,892,373,160,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 reasons to work.
5. Thanks but no thanks
Cryptocurrency will bring about a global payment revolution. You heard it here for the eight billionth time. But don't burn your cash yet (or ever legally speaking) because there are some distinct things that need to happen first.
- Ethereum price: Massive slide as market faces bearish pressure
- Ethereum 2.0: Roadmap, timeline and implications
- Bitcoin falls to US$34,000 as confidence in money markets improves with the Biden inauguration
- Bitcoin price lags while regulators raise fears and banks grapple
- Bitcoin price sees volatility around $37,000 with Pantera Capital projecting $115,000
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM