Vinny Lingham’s latest post published at Medium, is yet another must read for anyone interested in the Bitcoin price.
One of the key themes of a prior post I wrote in 2014, was that the Bitcoin exchange infrastructure for the ordinary man on the street was not yet in place, and that this fact would be partially responsible for the subsequent sideways/downward trading in Bitcoin that eventually occurred as predicted.
To recap a quote from that post (dated March 31st 2014), entitled Finding Equilibrium:
Lack of trust with exchanges and limited ability to purchase
Consumers are spooked right now. MtGox ran away with $500m+ in Bitcoins and is bankrupt. No one really trusts any of the exchanges — even some smaller exchanges went under the past 3 months. The only “safe” place to buy Bitcoin in the USA is via Coinbase and they are not an exchange.
The US does not have a…