What happens to BTC exchange price when the fiat onramps start closing?
20 sats \ 3 comments \ @kepford 24 Mar 2023 bitcoin
Thought experiment. What happens if/when the US starts closing the fiat onramps to Bitcoin? Does this drive price up or down? I can see arguments for both but curious what others think.
My hot take right now is that market price in dollars would dive hard and then recover quickly and continue to rise.
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0 sats \ 1 reply \ @k00b 24 Mar 2023
It kind of all depends on how dependent bitcoin's price is on onramps, or how dependent trader whales think bitcoin's price is on onramps.
Then, the price will regress to reality, ie there being no better place to put your money when the government is trying to take it from you, and people will buy bitcoin however they can. Then, as governments get more and more aggressive, the Streisand effect will ratchet up awareness of "reality."
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187 sats \ 0 replies \ @kepford OP 24 Mar 2023
Yeah, that makes sense and puts a point on my curiosity. If the state does cut off onramps this will be a signal that will likely push more people to the need of something like Bitcoin. I don't think anyone knows how this will work itself out but it seems like a matter of time. Seems like we are heading for a collision between Bitcoin and the state's control of money.
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0 sats \ 0 replies \ @01xCc 24 Mar 2023
Ок... пусть закрывают... и не один американец не купит биткоин) ничего страшного... просто цена будет разная у первого 125000 у второго 235000 а у бинанс 29567... вот и все...
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