#asknostr
How realistic can the published price of bitcoin in $USD be if no private, P2P (Peer To Peer) transactions are taken into account?🤔🧐
Isn't it true that all we're seeing in the price action arena is a reflection of "public, KYC'd, on exchange" transactions?😜😳
I think arbitrage is relevant here.
If sophisticated operators know they can get more fiat by selling Bitcoin to people who wish to buy on a p2p basis, they can buy Bitcoin from exchanges and then sell on to a p2p buyer.
Thank you kindly for responding.🙏🏻🫂💖😆
You only need a sample to get an idea of Bitcoin's currently perceived value. Remember that this is all that it is.
There isn't even a single price of Bitcoin; the price listed on Coinbase will be different to that listed on Kraken, Binance, and whatever else.
The prices tend to be close to one another only because people and/or bots will trade the differences between exchanges, which sort of syncs them.
Thank you kindly for responding.🙏🏻🫂💖😆
Trying bringing cash to a Bitcoin meetup and offer to buy some Bitcoin. You might find that no one wants the cash until you start offering to pay a premium over spot. Each local Bitcoin ecosystem will value no kyc p2p Bitcoin differently.
