If Bitcoin is a virtual decentralized object, how can its price diversify depending on the region?
Ofcourse different places tend to have different opinion about bitcoin because it a new concept and also different nations have different economic status up to date, that's why price of bitcoin in poor countries is much higher than in developed ones.
Topic: Bitcoin rate dependent on geography (Read 216 times)
Access to the Internet is largely dependent on your geographical location. It's easier to get online in some places than others. Anything where availability is at a premium will undoubtedly impact price.
If you use services like LocalBitcoins, you are effectively limiting your market to whatever price people in your locale wish to charge, but the upside tends to be less counterparty risk, so the cost is potentially outweighed by the convenience and security.
Ultimately, it's entirely your decision where to obtain your bitcoins. You might find them cheaper if you look at other, more distant, regions. But consider what the implications might be. This includes legal and taxation requirements in that particular jurisdiction, as well as any additional fees charged by any centralised service, plus the potential security risks inherent in such services where you may not be in control of the private keys.
If you use services like LocalBitcoins, you are effectively limiting your market to whatever price people in your locale wish to charge, but the upside tends to be less counterparty risk, so the cost is potentially outweighed by the convenience and security.
Ultimately, it's entirely your decision where to obtain your bitcoins. You might find them cheaper if you look at other, more distant, regions. But consider what the implications might be. This includes legal and taxation requirements in that particular jurisdiction, as well as any additional fees charged by any centralised service, plus the potential security risks inherent in such services where you may not be in control of the private keys.
Its not really about Geography, it’s a matter of pop culture, its reach to individual Countries, its notoriety and also the economy of the geographical location.
What's the correlation between BTC rate and geography? If Bitcoin is a virtual decentralized object, how can its price diversify depending on the region?
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