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It's easy to see that this is not the case. Using bitcoin to evade capital control doesn't push the bitcoin price up, because you BUY bitcoin in China, but the
by 21 10y ago
It's easy to see that this is not the case.
Using bitcoin to evade capital control doesn't push the bitcoin price up, because you BUY bitcoin in China, but then you SELL it outside China. So the net effect is pretty much 0.
Only by HOLDING bitcoin can the price go up.
- nl 10y agoNo, because you are buying and selling in different currencies. That will on equal out if the volume is enough to move the Yuan/USD direct exchange rate (and it's not).
- 21 10y agoSo you're saying that there is no arbitrage going on between the bitcoin price in different currencies/exchanges. So be the first one to write such a bot, you'll make millions...