Wow!.. I never thought this would happen... It is 20% cheaper to buy BTC in Australia than BTC/USD!
8000AUD vs 8176USD (BitFinex)
Bitfinex is actually even trading above the Korean exchanges.
The Korean exchanges had premiums of more than 20 % to the Western exchanges
not long ago.
My theory is that Bitfinex need to prop up the price on their own exchange to
prevent a cascade of margin calls that would cause a bloodbath. Meanwhile
price points aren´t really defended at other exchanges like Bitstamp that offer no
margin trading and therefore don´t need to fear a cascade of margin calls.
Off-topic:
If someone of you speaks Spanish and needs a distraction from the BTC price,
you can read the official whitepaper for the revolutionary Venezuelan cryptocurrency
- the PETRO - at the following website:
https://www.documentcloud.org/documents/4363861-Whitepaper-Petro.html#document/If anyone prefers the English translation:
http://elpetro.gob.ve/Whitepaper_Petro_en.pdfA few quotes:
Petro (PTR) has its origin in the idea of president Hugo Chavez of a strong currency backed by raw
materials
Petro will be a sovereign crypto asset backed by oil assets and issued by the Venezuelan State as a spearhead
for the development of an independent, transparent and open digital economy open to direct participation of
citizens.
Petro is breaking in with a promising outlook, taking advantage of:
...
• A market of more than thirty million people eager for savings, investment and international
exchange instruments
And here I was thinking that the Venezuelan people were looking for food and other things that
are necessary for survival.
To put it in perspective, the oil market is larger than the sum of all metal markets.
This quote could be interesting for realr0ach
Petro will give investors the opportunity to enter the crypto asset market with an instrument of intrinsic value
that is safer, more stable and susceptible to a fundamental analysis because it is linked to a widely known
industry, and therefore, suitable to be used in large transactions and even as a store of value.
PETRO IS A MUCH MORE AMBITIOUS PROJECT THAN OTHER DIGITAL CONVERTIBLE
CURRENCIES SUCH AS THE DIGIX (GOLD-BACKED) OR THE TETHER
(BACKED IN DOLLARS),
The whitepaper even contains a reference to Tether (!).
...
To top it all off Venezuela is obviously going with the standard scam launch scheme:
1. Pre-Sale
2. ICO on Ethereum
Poll
