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38 sats \ 4 replies \ @Coinsreporter OP 14 Mar \ parent \ on: How Is Bitcoin’s Intrinsic Value Beyond the Fiat Price Tag? bitcoin_beginners
I want to tell you here that Bitcoin is more expensive in India than in USA if we value it in fiats. Why is so? It means that the external factors are at play. While Bitcoin’s true value transcends fiat price, you're right very few people understand this.
It should be 1 sat = 1 sat.
That's interesting. It implies that something's going on in the FOREX market and people are using bitcoin to arbitrage it.
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Yes. May be people are doing it but I'm not aware of it. I'm just aware that Bitcoin's fiat price in india in INR is more than the price in USD.
And so many times the difference is more than 10%.
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So, if everything's functioning smoothly, you'd expect people to exchange to dollars and take advantage of the lower price.
Which means there's some sort of friction preventing that from happening.
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there's some sort of friction preventing that from happening.
Yes, may be I'm not aware. It may be because India tax 30% on Bitcoin profits.
But it can be very beneficial if we can manage to find a way to buy in dollars and sell in rupees.
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