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Title: Alternating exchanges question Post by: Tycon69 on March 10, 2013, 06:00:17 AM Sorry if this has already been asked, I couldn't figure out a good way to search for it. So I noticed alot of exchanges are trading at less that mt.gox. What if I were to buy alot of bitcoins at a lesser known exchange for much cheaper, then instantly sell them at mt.gox. This seems way to easy to be possible. What would dissuade someone to do such a thing? (I am not planning on doing it personally, sounds like it would cripple the giving all bitcoins to the near monopoly of mt. gox.
Thanks FOr you help, first time poster, long time lurker. Title: Re: Alternating exchanges question Post by: theymos on March 10, 2013, 06:02:51 AM That's call arbitrage. It's hard to make a profit that way because transferring money between exchanges is expensive and time-consuming, and other people will usually already be doing it better than you.
Title: Re: Alternating exchanges question Post by: RyNinDaCleM on March 10, 2013, 07:31:47 AM It's quite difficult and/or expensive to get fiat into most exchanges. Moving the Bitcoins is the easy part
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