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Very interesting. Checking my understanding: In 2012 there was no reputable middleman you could buy or sell Bitcoin to at the current market price, so you had t
by highfrequency 5y ago
Very interesting. Checking my understanding: In 2012 there was no reputable middleman you could buy or sell Bitcoin to at the current market price, so you had to hunt down a counterparty each time. Coinbase stepped in as a middleman who would always trade with you in either direction at a fair price. Does this sound right?
- wmf 5y agoMtGox was reputable enough by Bitcoin standards although it certainly wasn't legal in the US.
- rmason 5y agoIf memory serves me correctly Mt. Gox didn't have the greatest UI. If you weren't a techie you would need the guidance of one. I do remember it was quite a big deal when the first bitcoin machine arrived in Lansing. Eventually several arrived and left but the original one is still at the Fledge, at least before COVID arrived.