Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Mt.Gox is the main reason of the current raise in bitcoin price. As Mt.Gox users have difficulty cashing out dollars, the only option they have is to convert those dollars to bitcoin (buy bitcoins on Mt Gox), or risk loosing all the money. At the same time spread they spread panic on forums, so a large quantity of people who have funds in MtGox in form of dollars, is currently trying to buy bitcoins on Mt. Gox, making the price raise. That is also the reason Mt. Gox bitcoin price is much higher than other markets.


Why are people still buying on MtGox? Is it easier and if so, how? I don't see any other reason to pay more.


This is false. The main reason is Chinese adoption.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: