4 ms·
There will be another country where this happens. The fact that Bitcoin works well in this situation is further proof that it is a decent currency for internati
by pat2man 10y ago
There will be another country where this happens. The fact that Bitcoin works well in this situation is further proof that it is a decent currency for international trade.
- technotony 10y agoNew York times suggests this boom is caused by India and Venezuela, so yes other countries are picking up on this: http://www.nytimes.com/2017/01/03/business/dealbook/bitcoin-price-soars-fueled-by-speculation-and-global-currency-turmoil.html?_r=0 http://www.nytimes.com/2017/01/03/business/dealbook/bitcoin-...
- pg314 10y agoAnd speculation, as it says in the headline of that NYT article. The volume of bitcoins bought with bolivars (Venezuela's currency) is inherently limited: you would only want to sell bitcoins in exchange for bolivars if you could spend the bolivars immediately. That basically limits the sellers to people already having bitcoin and living in Bolivia.
- gchokov 10y agoThese are all valid comments.