How do we handle geographical arbitrage? Demonetisation and bitcoin price premiums in India. Arbitrage is the process of diminishing the difference in price in open markets. If differences in price emerge, they can be exploited for profit until the difference goes to zero. The problem is not bitcoin, the problem is currency controls. Bitcoin has no location as a global network, it was "in the US" to start with or "in India" to end with. What arbitrage activity tells you is not that bitcoin is worth $1200 here, but that rupees are discounted 20% against hard assets, including other national currencies. The market is sending you a signal. A currency that cannot move across borders is worth less.
Chapters
0:00 How can we go through this geographical arbitrage?
1:58 The problem here is not bitcoin. The problem is currency controls
4:23 The problem isn't that bitcoin is 20% more expensive; the problem is that the rupee is worth 20% less in bitcoin than the dollar is.
This is part of a talk which took place at the JW Marriott Sahar (International Airport) on March 26th 2017 in Mumbai, India:
https://www.townscript.com/e/bitcoin-talk-by-the-world-famous-andreas-antonopoulos-203132RELATED:
Aadhaar and blockchain identities -
https://youtu.be/GylSvJf53zIRemittances & smuggling in Venezuela -
https://youtu.be/RRXecXfWARwDivisibility and deflationary monetary policy -
https://youtu.be/xhLgxX_wU6EWho determines the value of bitcoins? -
https://youtu.be/DucvYCX1CVIAndreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.
Follow on Twitter: @aantonop
https://twitter.com/aantonopWebsite:
https://antonopoulos.com/He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1:
https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8MASTERING BITCOIN:
https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042[NEW] MASTERING BITCOIN, 2nd Edition:
https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388Subscribe to the channel to learn more about Bitcoin & open blockchains!
Videography: Zebpay Bitcoin India
Music: "Unbounded" by Orfan (
https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (
http://www.phneep.com/)
Outro Art: Rock Barcellos (
http://www.rockincomics.com.br/)
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