Could someone explain to me why Gox has a much higher price for BTC. Someone offered an explanation once that it was one of the only exchanges that Europe and Asia could use easily?
LOL. I'm curious who offered this explanation. The price at Gox is higher, because withdrawing fiat is
more difficult at Gox than at the most reputable exchanges. "USD" in your Gox account were, in effect, worth less than USD in an account that you could withdraw with confidence and without undue delay.
This is why the sudden drop in the price premium between MtGox and other exchanges over the past 48 hours is so troubling. It's not because "Gox USD" are worth more than they were last week; evidently "Gox BTC" are now worth less than real BTC, because people are no longer confident that they will be able to move their bitcoin out of MtGox.