Stating the Obvious: Bitcoin price is highest in countries where it is used as currency not just as "digital gold" by fubar-bdhr

bitcoin · @fubar-bdhr · May 24 '17

$13.60

Stating the Obvious: Bitcoin price is highest in countries where it is used as currency not just as "digital gold"

Look at the prices US is just over $2400 but it's $2700 in Japan, $3050 in India, and $3150 in South Korea. [source](https://news.bitcoin.com/bitcoin-price-blazes-past-2400-and-higher-in-japan-india-and-south-korea/) India pulled most cash so people needed a substitute and started using bitcoin. Stores in Japan started accepting bitcoin and price there shot up. Companies are using bitcoin in South Korea for remittances so even if people aren't using it directly it is being used.  That use gives it demand and that gives it higher value.  USE AS CURRENCY == VALUE

![](https://steemitimages.com/DQmUMAcadgxivMPY2hSYtAbT2iHMgHNfkJwZtgnLCYbADaU/image.png)

👍 wackou, demotruk, vcelier, pkattera, joseph, anyx, picokernel, fubar-bdhr, creadordelfuturo, berkah, cube48, stevescoins, kyle.anderson, sandra, jason, steemvest17, vannour, steemprentice, fiveboringgames, zathras, pheonike, virtualgrowth, ihashfury, angel76, patrice, inphiknit, brettpickett, zatrhas, beerbot, justinashby, antidorsessions, lykendream, radiv, brich, gduran, jaycobbell, drpuffnstuff, irawandedy, skiveuss, innafanz, lykencrypto, prakashghai, bestofreddit, aizacc, edgarstudio, hisilverstacker, mapipaz, jawaida, reisman, evildeathcore, app88, mathfortress, dolov, vermute, zoee, steembets, mhaimo, toonpunk, steemland.com, thegame, bthomas220, viktorcapulet, lautenglye, mathworksheets, and 6 others

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@prakashghai · May 24 '17

Makes sense.

👍 aizacc

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@aizacc · May 24 '17

It does make sense.

👍 aizacc

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@kyle.anderson · May 24 '17

$0.05

The demand in countries like India has more to do with the economic situation in the country as a whole. The government is going around taking everyone's cash and gold - you can see why people there are interested in Bitcoin.

👍 kyle.anderson, kalestew, laurieanderson

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@lautenglye · May 25 '17

resteem and upvote for you....

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