Bitcoin and cryptocurrency round-up: 6 February 2018

Posted: 6 February 2018 7:14 pm

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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.

Finder spoke with Western Union about the road to cryptocurrency payments.

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

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