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Bitcoin is at $650... says who?
by
thesouljourner
on 23/12/2013, 03:20:35 UTC
So, all prices are pretty much determined by the prices on the exchanges.. but why? What makes Mt Gox the determining factor for all Bitcoin dollar prices?  It seems like a self fulfilling prophecy, people expect to use Mt Gox as the value, so set their prices accordingly, even if they don't have any relation to the site. Is it just because those are the biggest markets? But are they? How would we know if another market was bigger?