Again Indian markets are leading. India buying bitcoins for ~$1500 - page 2.

BrewMaster

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Quote from: coinplus on March 06, 2017, 11:43:33 AM

Quote from: LFC_Bitcoin on March 06, 2017, 11:14:52 AM

What kind of an idiot buys at $1500 when the price is more than $200 below that?

I just wonder a legendary member asks how bitcoin prices are being determined.

Could you explain why bitstamp and bitfinex are not showing same prices at all the times ? Or Could you explain why people here in this forum are paying 5% to 20% extra than preev rates ?

People who want to buy bitcoins with their local currency pays extra than major exchanges. No surprises nor brainless action.

well as i said above the reason for the first time this rise in price in Indian markets happened was because Indians had limitations on their bank withdrawals so the only way they could buy bitcoin was through cash and other payment methods on localbitcoins.

i actually am buying bitcoin lower than 5% above preev rates with my local currency. and we don't have any exchange like zebpay in our country even Cheesy

coinplus

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Quote from: LFC_Bitcoin on March 06, 2017, 11:14:52 AM

What kind of an idiot buys at $1500 when the price is more than $200 below that?

I just wonder a legendary member asks how bitcoin prices are being determined.

Could you explain why bitstamp and bitfinex are not showing same prices all the times ? Or Could you explain why people here in this forum are paying 5% to 20% extra than preev rates ?

People who want to buy bitcoins with their local currency pay extra than major exchanges. No surprises nor brainless action.

jofus

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Quote from: LFC_Bitcoin on March 06, 2017, 11:14:52 AM

What kind of an idiot buys at $1500 when the price is more than $200 below that?

Because they can't get it for $200 below that.

Wendigo

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Quote from: LFC_Bitcoin on March 06, 2017, 11:14:52 AM

What kind of an idiot buys at $1500 when the price is more than $200 below that?

I think the more important question is if we could sell coins to those desperate chaps in India and how do we do it?

LFC_Bitcoin

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What kind of an idiot buys at $1500 when the price is more than $200 below that?

NUFCrichard

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Good to see India getting involved, they have always been big buyers of Gold, but they have been cracking down on gold ownership recently.
Stupidly getting rid of 'large' denomination bank notes not only hurt their economy, but destroys trust in their currency.

I like the quotes on the Unocoin website:

"Bitcoins per se are not illegal in India. This is in consonance with international approach"

per se not illegal! not confidence building!

BrewMaster

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interesting, i remember the first time this happened the Zebpay and exchanges like that were higher but not by a lot. the high prices were mostly on localbitcoins and it was understandable since their access to their bank accounts were limited.

but do we have any reason for this difference today?

beerlover

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We have seen similar situations when demonetization of top bank notes happened in late 2016. Now Again Indian markets are trading ~$200 ahead of rest of markets. India sell bitcoins for ~$1420.

I checked India prices here : https://www.unocoin.com

Edit : Another Indian exchange trades bitcoins at ~1460 https://www.zebpay.com

Topic: Again Indian markets are leading. India buying bitcoins for ~$1500 - page 2. (Read 1483 times)