How can the price of bitcoin be so different in different places?

The video below is a great explanation of how it was possible that the price of bitcoin in India last year was $1100 at the same time the price in the US was $900. Spoiler: The problem was not bitcoin or the nature of cryptocurrency. When India decided to demonetize the rupee, the national currency became hard to move. What's most scary is that this kind of thing can happen literally overnight, and then it is not until people have to line up the next day to find the banks out of money that they realize it is already too late.

Nothing is truly yours unless you own it and only you can spend it.