In the first edition of the series, we looked briefly at the latest developments, considered mining and uncovered the environmental concerns. In this second edition, we talk about practicalities; what’s the likely impact of the authorities and regulation, and which cryptocurrency should you choose.
Recent falls appear to relate to a tightening attitude of the authorities, especially in China and the US, but also the actions and comments of “whales”. Whales are individuals that a perceived to own or control a sufficient proportion of a market for their actions to have an immediate effect on the price. In a regulated market, the actions of individuals and authorities alike are strictly controlled to provide fairness and equality of information. Not so for cryptocurrencies, where they are a notable feature of markets whose very nature make verification of information difficult or impossible. Elon Musk springs to mind, but there are of course others.
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