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A comment on Zimbabwean Bitcoin Price Soars to $12,400.

Re:Zimbabwean Bitcoin Price Soars to $12,400 by hasenj on Saturday November 04, 2017 @11:46PM (#15628102)
I don't understand. Why does the exchange price vary across countries? The whole thing is online.
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Re:Zimbabwean Bitcoin Price Soars to $12,400 by thisisit on Sunday November 05, 2017 @02:47AM (#15628581)
Lot 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

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.

[ Parent | on HN ]