The market is repairing itself:
Coinbase exchange has healthy volume, and the Gemini exchange will produce a second stable, legit venue that can handle "Wall Street" amounts/truckloads of cash with respectable levels of trust and security.
Topic: How will we move away from the infamous exchange prices? - page 3. (Read 2903 times)
People value BTC at rates other than what is on the exchanges (e.g. non exchange sales), but the famous exchanges set the price and everywhere else follows. This monopoly on the price needs to be broken. E.g. if Bitfinex goes down then even Localbitcoins and the US Marshals price goes along with it. This is making the worldwide price dependent on low volume exchange prices.
We can't have a state where there is greater adoption and people are using bitcoin everyday and the price still hinges on what Bitfinex, Bitstamp or Bitwhatever says.
Lots of people (e.g. the third world) can start using BTC and their transactions have little affect on the price. This needs amending.
We can't have a state where there is greater adoption and people are using bitcoin everyday and the price still hinges on what Bitfinex, Bitstamp or Bitwhatever says.
Lots of people (e.g. the third world) can start using BTC and their transactions have little affect on the price. This needs amending.
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