Underappreciated fact about Bitcoin: prices tend to surge when the Bitcoin economy suffers unexpected disruption to their access to money.
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Replying to @patio11
For example, when Mt. Gox shut off most ways to withdraw money from the company, people with money on deposit bought BTC to exfiltrate.
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Replying to @patio11
This caused the price of BTC to explode, and was probably the main factor causing the price of BTC to explode in late 2013.
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Replying to @patio11
One driver of this: people use "arbitrage" to refer to what is in effect betting on the creditworthiness of different exchanges.
1 reply 0 retweets 2 likes
Replying to @ByrneHobart
The thing I like most about Bitcoin is how it solved counterparty risk. /s
5:08 PM - 13 Aug 2017
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