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Because it's only worth what people are willing to pay, and that's how much Coinbase are paying at the moment.
by beefsack 9y ago
Because it's only worth what people are willing to pay, and that's how much Coinbase are paying at the moment.
- foobar2020 9y agoWell there are more people that are willing to pay than just Coinbase. A more comprehensive answer would be that arbitrage is not that up to speed in the Bitcoin world, especially in KRW and JPY markets: https://coinmarketcap.com/currencies/bitcoin/#markets https://coinmarketcap.com/currencies/bitcoin/#markets Used to be that crypto is massively overpriced there, now it looks like Korea and Japan are leading this price fall.
- ceejayoz 9y ago> A more comprehensive answer would be that arbitrage is not that up to speed in the Bitcoin world... Or that folks trust their ability to get money out of Coinbase more than the other exchanges.
- pbreit 9y agoI assume Coinbase prices come from GDAX. Anyone know for sure?
- snuxoll 9y agoYes, every time you buy or sell on Coinbase it’s transacted through their GDAX platform.