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Title: Why is the the Canadian exchange almost a dollar differance from the US? Post by: _mr_e on October 02, 2012, 01:54:12 PM What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out?
Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: max in montreal on October 02, 2012, 02:02:14 PM http://en.wikipedia.org/wiki/Arbitrage
people do. ;D Title: . Post by: inbox on October 02, 2012, 02:08:59 PM .
Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: veken0m on October 02, 2012, 02:15:56 PM What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out? It might have something to to with the fact the CAD is now worth more than USD: http://www.xe.com/ucc/convert/?Amount=1&From=CAD&To=USD Also the recent fee increases on cavirtex make it much less profitable to do this. Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: Stephen Gornick on October 02, 2012, 08:30:57 PM What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out? If you have coins to sell, and don't like selling below market rate, perhaps you would like to trade with those holding cash (CAD) who don't like buying above market rate. Put the two together and you have a win/win! Simply put up an offer and see what happens: - http://www.LocalBitcoins.com Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: adamstgBit on October 02, 2012, 11:17:36 PM I'd say Virtex is mostly always in line with mt-gox price
when mtgox has a big move, it sometimes takes Virtex a few hours to correct itself 1000CAD -> to exchange = 994CAD BUY 987.54CAD -> BTC = 83.12BTC after fees SELL on mtgox 83.12BTC -> 1034.12USD after fees 1034.12USD converted to CAD through bank is 995.24 CAD This doesn't include any fees for transferring money from exchange to your bank. *This is just from a quick glance at both exchanges, not 100% accurate. Arbitrage is almost never worth it. best thing to do is buy stuff with them... since everyone use mtgox's higher rate to value the coins. Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: byronbb on October 03, 2012, 01:11:15 AM The main reason is Virtex lacks an API so automated arbs are not feasible.
Title: Re: Why is the the Canadian exchange almost a dollar differance from the US? Post by: kjj on October 03, 2012, 03:27:24 AM Arbitrage is almost never worth it. It was, once. But then people started posting about it here, and the bigger traders improved their bots to dispatch orders to multiple exchanges at the same time. Since then, the opportunities have dried up. |