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Very interesting. Checking my understanding: In 2012 there was no reputable middleman you could buy or sell Bitcoin to at the current market price, so you had to hunt down a counterparty each time. Coinbase stepped in as a middleman who would always trade with you in either direction at a fair price. Does this sound right?


MtGox was reputable enough by Bitcoin standards although it certainly wasn't legal in the US.


If memory serves me correctly Mt. Gox didn't have the greatest UI. If you weren't a techie you would need the guidance of one.

I do remember it was quite a big deal when the first bitcoin machine arrived in Lansing. Eventually several arrived and left but the original one is still at the Fledge, at least before COVID arrived.




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