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I don't understand. Why does the exchange price vary across countries? The whole thing is online.
by hasenj 9y ago
I don't understand. Why does the exchange price vary across countries? The whole thing is online.
- thisisit 9y agoLot of reasons - liquidity, risks etc. But mainly because of something called counter party risk. The caveats of selling a bitcoin on Golix exchange has been stated here: https://news.ycombinator.com/item?id=15627972 https://news.ycombinator.com/item?id=15627972 So the inflated price is in lieu for the risks someone is taking to withdraw from the exchange. At $50 a day, it will take more than 8 months to even cash out a single bitcoin. By the time someone realises the mistake, the price might have jumped to 15k USD.