Bitcoin and cryptocurrency round-up: 9 April 2018

Posted: 9 April 2018 6:59 pm
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What's happening in cryptocurrency?

Markets break upwards, crypto for Wall St, Nano lawsuit, Coinbase licensing and stablecoin hub Bitfinex.

1. A happy break-up

Buoyant news of institutional interest has seen cryptocurrency prices push upwards.

Ethereum in particular punched back above $400 like a digital orca bursting through the ice.

2. It was not meant for the rabble

The egalitarianism of cryptocurrency was a relatively short-lived dream, albeit one that made a lot of drug dealers and tech enthusiasts very rich very quickly.

It has always been far better-suited to institutional investors though, as Wall Street is discovering.

3. Down to fork, by court order

An overwrought lawsuit is making unusual demands of the evil Nano developers, claiming that they directed the innocent public to illegally purchase securities and house them on BitGrail, and then laughed at their suffering following the robbery all while denying a recovery fork for no reason except sheer cruelty (to paraphrase it).

Can a court order a hard fork? Are the developers obligated to maintain or endorse the fork, or prohibited from working on the old fork? Are developers entitled to get paid for the time they spend working on a court-ordered hard fork? Would the fork technically be a government created cryptocurrency? These questions, and more, are likely to go entirely unanswered following this goofy lawsuit.

4. That's broker Coinbase to you

Not yet though.

Sources say Coinbase is aiming to get its SEC brokerage licence to start offering more tokens.

5. Balance in all things, especially paired collateral-backed digital currencies

Bitfinex is listing more stablecoins and has already become something of a stablecoin hub.

Traders can now find a more zen price experience there.

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

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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