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Mt. Gox to Live Again, Bitcoin Is 'Honestly Useless,' and Jack Dorsey Likes Lightning Network: This Week in Crypto

Please comment at the end about your favorite stories of the week. While our coverage has expanded well beyond cryptocurrency news, we’d love to know which crypto subjects our readership prefers get the most attention.

Mt. Gox to Rise Again

CCN broke the news that Brock Pierce will be re-opening Mt. Gox after Japanese courts approve a civil rehabilitation plan to repay creditors in cryptocurrency. Public reception of the idea has so far been luke-warm at best. Pierce told CCN:

The only person who would have a reason to be against me is Mark Karpeles. I was just with him a few days ago. Mark seems to be on the same page as I am.

Pierce is arguably the only shareholder in the failed exchange. The news of Mt. Gox’s failure was many people’s first introduction to Bitcoin, and Pierce wants to write a happy ending to that dark chapter of the Bitcoin movement.

The crypto markets finally had a wildly volatile week, the first one in quite awhile, although the massive gains didn’t begin until the end of the business of week. Late Thursday and all day Friday, Bitcoin shoved off its downward slide, crushing shorts and slaying bears along the way.

Our daily columns on the subject of the crypto markets were becoming repetitive, wondering when the legendary volatility would return. Joseph Young queried the cause of the boom and P. H. Madore speculated that low mortgages could drive an even bigger run in coming months.

Telegram’s Ethereum Alternative 90% Complete

The Telegram Open Network is reportedly a few “minor changes” from completion. Their testnet launch has been moved to March from January. Telegram, with its existing millions of users, could potentially be the largest blockchain platform in the world from the jump, catapulting it to the top of cryptocurrency market capitalizations. Whether Telegram actually stands a chance of supplanting Ethereum as the world’s computer is for the experts to argue about.

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