[2016-06-26] medium.com| The 1% don’t use Bitcoin Exchanges

[eye4bd]

The 1% don’t use Bitcoin Exchanges

Given that the Brexit is still fresh in our minds — the big question of “how will the global financial elite diversify their assets” is one that every money manager and their clients are discussing this weekend. Great timing for a Bitcoin post....

https://vinnylingham.com/the-1-dont-use-bitcoin-exchanges-ff019774d886

[gentlemand]

That all makes a lot of sense. However if I had put a large amount of my not very hard earned money into it, I'm not sure I'd be too happy about its value being at the mercy of a bunch of hostile brats on shitty exchanges. The 'proper' ones don't have any volume.

The place of exchanges is quite an odd one. Most first time buyers don't use them, they'll go to Localbitcoins or Coinbase. And going on this the truly enormous buyers don't either. Why is the numerical and financial majority depending on a tiny group to decide what they pay?