Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $10,623 after shedding $300 overnight.
Tyler Winklevoss, one half of the infamous rowing Winklevoss twins of Facebook fame, has added to the chorus of support for bitcoin as a form of digital gold.
As reported by Investopia, Mr Winklevoss told an audience that bitcoin is "better at being gold than gold is".
Adding: "Ether is a form of digital oil that fuels a protocol layer – the ethereum blockchain – on top of which decentralised applications using their own tokens can be built."
However when asked if litecoin is the "silver" to bitcoin's gold he said litecoin is like a "testnet" - a practice scenario where developers test their product without risk of loss.
Updates below throughout the day....
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11.26am - UPDATE - Marshall Islands to issue cryptocurrency
Iqbal V. Gandham, UK Managing Director at eToro, has given Express.co.uk his thoughts on the Marshall Islands issuing a cryptocurrency as legal tender.
He said: "This is both in terms of validating the underlying blockchain technology and promoting the concept of digital money replacing traditional fiat currencies.
“There has been a misconception that cryptocurrencies are being used just for illicit activities. The Marshall Islands are demonstrating that, in reality, the blockchain and cryptocurrencies, reduce these concerns, by linking Know Your Customer (KYC) to government issued IDs.”
10.09am - UPDATE - Bitcoin on the up
BTC is up $369 on the day so far to $10,768.
9.46am - UPDATE - Cryptocurrency endorsements alert: 'Do investors know what they are signing up for?'
More on the recent spate of celebrity cyrptocurrency endorsements.
Hollywood cybersecurity advisor, Ralph Echemendia, aka ‘The Ethical Hacker’ who has worked with NASA, Google, Microsoft, and advised award-winning director Oliver Stone on his Edward Snowden movie, says celebrity endorsements for cryptocurrencies only serve one purpose – bringing the message that people should invest in cryptocurrency to the masses.
Mr Echemendia told Express.co.uk: “People who would normally never even give cryptocurrencies a second look are now seriously considering the investment, following familiar faces down the digital path.
“It’s the mentality of, ‘if these high-profile celebs are doing it, so should I.’
“But do consumers really know what they are signing up for?”
Mr Echemendia said the effects of celebrity endorsements “are still yet to be seen and felt”.
Source: https://www.express.co.uk/finance/city/925632/Bitcoin-price-ripple-Winklevoss-cryptocurrency-ethereum-BTC-to-USD-XRP-news
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