Today`s trading world is influences by many factors that affect market soar and decent. Some are more aggressive and some are less, and when it comes to major league market players, you know they are a motivating part of politics and technology fields. If we break it down to latest events that impact bitcoin`s trading traffic, 3 powerful forces are involved. Who are the ones that currently control some shifts behind the scenes?
Microsoft Blocks BTC
Last December, Microsoft had announced it is no longer receiving client credit exchange made with bitcoin. Rumors say this decision derives of regulatory issues. But in fact, information leaks from several Microsoft employees describes operational problems that are created by bitcoin payments. Fluent payment operation is interrupted due to parameters such as high volatility, long transaction approval time and costly transaction fees. This kind of setback greatly impacts bitcoin price rate, as millions of Microsoft users have received a stop sign for their cryptocurrency transaction option. Having said that, it is naturally not the end of the world, as Microsoft will have to adopt bitcoin again after developing required solutions, as technology won`t allow otherwise. Cryptocurrency payment demand increases on a regular bases, and that is exactly why Microsoft will be the one who will have to adapt.
Is Amazon About to Adopt Bitcoin?
Asking this question makes you think how is it possible that the biggest online shopping platform has yet to enable cryptocurrency payment. Well, same problem as Microsoft`s poor operation setback arises here as well. As recently documented, Amazon`s transaction amount per second has reached a staggering number of 600 deals. Imagine the duration of time it takes to approve and finalize so many transactions simultaneously. Crypto payment platforms like Bitcoin and Ethereum will just not do for Amazon`s speed demand. But, other cryptocurrency platform (i.e Ripple) that have more advanced features designed, will actually be able to support Amazon`s requirements. Actually, Amazon has already purchased some domains for future crypto payments, and is currently operating crypto gift card payment option. There is no doubt that this shopping giant will eventually open its gate to cryptocurrency full time, as it can`t beat public`s demand. Also, it isn`t farfetched thinking Amazon will issue its own altcoin further down the road.
Far East Perspective – The Korean Effect
Surprisingly enough, there`s accumulated information that no other than North Korea itself is using cryptocurrency as a liberating economy strategy. How is that possible, considering it`s one of the most conservative and forbidding governments on the globe? Well, the answer to that lies exactly where the question does. Because of this country`s restricting regulation and complex governance, financial forces had actually managed to find economic relief in bitcoin. This crypto path has opened a new horizon through bitcoin, one which enables new possibilities in regards to certain operations, such as military technology acquisitions. The real kicker here is that North Korean anonymous factors don`t only transact through cryptocurrency, they are actually mining it themselves. They implement it through a designated malware which mines a specific token named Monero. It is of course highly convenient to utilize this mining as an alternate model to governmental economy, due to the anonymity of the blockchain use.
All of the above are forces to be reckoned with, and are not to be ignored when analyzing bitcoin industry. After all, these factors and more are reflecting in rate stats each and every day. It is undoubtedly crucial to follow current world news and financial analysis, in order to be able to keep track of one`s crypto trade. One digital trading platform enables its users to do it easily and responsibly: