BTC
One of the tests for the longevity of Bitcoin’s long term viability is how usable is it? The more places that BTC can be used the more point there is in owning BTC. In short BTC needs to go from the realm of ‘techno savvy only’ to ‘Mr & Mrs Smith’.
That tipping point looks like it is about to be reached. The news that helped push it over the edge was the news that Amazon might be be about to start accepting BTC payments. People may be able to use BTC to buy things on Amazon. That is big news. This builds on a number of important news stories. Ecuador has made Bitcoin level tender and citizens have been using mobile phones to trade small fractions of Bitcoins for payments. PayPal allows users to buy, sell and hold Bitcoin.
There are also other signs that crypto currencies are becoming part of the fabric of the world around us. Travala, the world’s biggest blockchain based online travel agency, allow users to pay for flights and hotels with lots of different crypto currencies. Pavilions Hotels and Resorts from Hong Kong announced this month that guests would be able to book a stay at its 14 properties worldwide.
So, the longevity of BTC seems pretty stable now as the critical mass for adoption has shifted. Does this mean that BTC should just be purchased like any other currency? No. The volatility of BTC means that huge variations in price will hammer those who are using leverage. So, if you are relatively new to trading, you must always be aware of what your total ‘at risk’ amount is. Remember that BTC can move double digit percentage wise across a few days. So, although BTC looks like it is here to stay, it comes at the prices of significant volatility,