Bitcoin Forum

What a huge diff

Sometimes this big differencies could happ although no so often anymore, the prices are usualy more or less equal.
This is great opportunity to make some money on arbitrage gradina but you have to be quick and prepared otherwise you can miss your chance for earning.
Take a chance.

This may be just because all this buy force are coming from china and for chinese they will trade on chinese exchanger rather than in bitstamp or coinbase. But eventually after next few hours price will be almost same in all of the exchangers. Orderbook need some time to get adjusted according to markets.

Gap have already been down to near $20 right now.

It should take some time to comes to equalization of price on all exchanges,and if check now you will see that price is around 730$ on most exchanges.BitFinex and Bitstamp are almost completely equalized.

For some quick traders this is a good opportunity to make some profit,nothing strange in the world of Bitcoin :)

http://i67.tinypic.com/vwpoa9.jpg

https://bitcoinwisdom.com/

There will always be gap between two exchange platforms not only between chinese and non-chinese platform. Price in btc-e, bitstamp and bitfinex also differs always which most of the time depends upon the trading volume, number of traders, deposit/withdraw option trading platform have. This is normal..

Indeed, see the difference in tradeblock and especially between the Chinese and the others

Bitstamp USD 739.69
Bitfinex USD 742.54
GDAX USD 737.52
itBit USD 743.00
OKCoin USD 745.74
Gemini USD 739.99
BTC-e USD 729.27
Kraken EUR 695.25
BTCC CNY 5,298.37    USD 774.13
OKCoin CNY5,366.46  USD 784.08
Huobi CNY 5,362.30    USD 783.47

China is always leading the pumps

No real surprise. Whales there have so much power on the major Chinese exchanges, that people even combined can't hold these whales back. Right now there are two options possible, Western exchanges will either catch up slowly, or Chinese exchanges will come down to match the price on Western exchanges. However, even though Chinese exchanges are having a much higher price, if the price in China comes down, Western exchanges will also come down. It's basically a cat and mouse game.

Actually there is always a difference between chinese exchangers and other exchangers and this is not something that happens rare or to spend much time exploring why this happens.

Actually this is not a strange thing, we always look at the price difference every bitcoin exchange because bitcoin price is not fixed.

Every exchange takes different currencies and charges different fees. In the end they'll even out when enough people take advantage of arbitrage.

OKCoin and Huobi is lead for the price. i think its because price of bitcoin is not already stable so there is a big gap between the market. i only thinking about i think we can make some profit when we trying to make arbit but the risk is arbit takes a time before its arrive in the wallet.

you need to be able to trade on both exchanges in different countries with different currencies (fiat) to be able to do arbitrage trading, and that is why the price doesn't balance itself fast because people can not do this without having access to both USD and CNY and being able to deposit/withdraw both of them.

Though Chinese exchanges lead the pump, they have high trading fees. Bter's btc withdrawal fee is the highest I have seen so far - 0.0006btc :o

Ussualy china market still leading bitcoin price
because in there huobi and okcoin still leading in market the best volume transaction
if bitstamp lead price, only several hour or minute can take over again in china exchanger

No, you are mixing things up. The major Chinese exchanges work with zero fees when it comes to their trading platform.


First of all, bter is a shitty exchange that no one should trust after all the incidents that happened. Second, 0.0006BTC as withdrawal fee isn't that high. Especially when you consider that the average transaction fee that pools see as interesting enough to include your transaction into their block, has gone up immensely. If people execute a withdrawal, they want it to confirm quickly. That's mostly only possible with fees in the category of +0.0005BTC. BTC-E which I have been working for since very early 2013, handles withdrawal fees of 0.001BTC. In that regard, the 0.0006BTC fee that bter is working with, isn't that high after all.

The gap to far around $45, Chinese exchanges more profitable that proof of their progress in bitcoin development.
I think when inflation of CNY do affect the price of btc there.

There are some differences between rates of conversion

Bitstamp shows $774 but the app Bitcoin Checker shows $742.02

Dunno who is right or wrong and how they do the conversion

Better not use conversion rates to compare between exchanges if you don't know exactly what are you doing

Stamp needs a margin if they still want to boost their business in this space.

Had a meaningful volume only when finex halted the trading entirely for two hours during the dump last week.

At least it got a better interface.

That's because your app is using a different exchange to base the rate on rofl. Seriously? You didnt get that? Oh my... Well anyways that's exactly how people come across these. Preev says X Bitstamp says X+15 and the Chinese exchanges say X+35... Wtf!?

I'm always amazed by those spreads, arbitrage should surely be profitable with those conditions, and i've heard of quite a few bots capable of doing it by themselves.
So why is none doing it as soon as spreads like those appear?
 ???

I do arb sometimes. Note, its dangerous to store big sums on chinese exchanges if u are not a chinese. If they find out ur country is not in the qualified list of counties theyre bound to serve, they may lock u out of that account.

Another question how come huobi and okcoin never got hacked like mtgox bitstamp and finex

It will happen in the future expect  bloody waterfallls when it does fake or not its only a matter of time

Well, we will never know whether or not these exchanges have been hacked if they don't admit it themselves, or when they don't seem to have any problems like MtGox had for example. If they keep operating like they always do, then they can keep it hidden basically for years and years. It also depends on the number of coins being stolen. If it's "just" a few thousand, then nothing will happen to these exchanges. If it's about hundreds of thousands of coins, then it's different of course.

If you think this spread is huge you should monitor some local exchanges. Price difference might be as big as $120 in some cases.
For example in India when government decided demonetize 500 and 1000 rupee notes Bitcoin price skyrocketed to $881.

Reference: https://www.cryptocoinsnews.com/india-bitcoin-premium-reaches-20/ (https://www.cryptocoinsnews.com/india-bitcoin-premium-reaches-20/)

The problem with price differences in India and China is that there is no way to arbitrage them. Both countries have capital controls and the bureaucracy can be ruthless on people who try to violate them.

Most of the hackers are either Chinese or Russian. And that is the reason why Chinese exchanges such as Huobi and Russian exchanges such as BTC-e never gets hacked. They employ these hackers to protect their wallets from robbery.  ;D

You can arbitrage on western exchanges, but hard to do a western-eastern exchange arb because eastern countries have capital controls.

Suppose you bought bitcoin on bitstamp and transferred the bitcoin to a chinese exchange and sold it for £30 higher. Then what? How do you get your fiat out of a chinese exchange given China has capital controls? You'd have to leave it there and hope bitcoin's price in China goes below that of the western exchanges, and then you can buy bitcoin and transfer it west. But the price in china might always remain higher, in which case you are stuffed.

It would be too hard to do arbitrage trading by involving fiats. In my experience arbitrage trading is well effective only when we are dealing with digital currencies/crypto currencies.

But whenever we are going for fiats, at least as per my country laws, I am exposing myself into government taxes and other regulations, that might become a problem at any point of time so I'm not going for arbitrage trading with bitcoin/fiats trading.

It's happening again.

forget China!
if you looked at Indian exchanges not so long ago,bitcoin was traded at 840-890$
and there were volumes,so people were actually BYING at 850$ and up
now that the excitment caused by the 500/1000 notes exchange has somewhat subsided,the prices returned to more or less normal
yet there is a 50-60$ margin still,so supply and demand theory works,at least at bitcoin exchanges  :P

As long as bitcoin market, trading and exchanges, also China miners lead the way on these area there will be a gap due to bitcoin transaction there is higher even in Western countries and America also have good development of bitcoin.

And that is why the prices in pure crypto currency - say BTC/ETH or BTC/DOGE are the same on most exchanges. The arb has evened them out.

not again!!!

WOW
BitStamp: 760
OkCoin: 788

this is starting to look like the good old days of Chinese being the front runner of bitcoin price and other western exchanges following it up. now i am starting to strongly believe $800 is possible this month like a piece of cake.

Chinese exchanges aren't very far from reaching $800 at this point, but people want western exchanges to reach $800, otherwise it doesn't mean anything for people.

If you look closely, then the gap will remain at least $10-$20 in most of the situations, so if we want western exchanges to touch $800, Chinese exchanges must reach $820.

Bitfinex is usually closer to the price on Chinese exchanges compared to Bitstamp and the mostly very conservative BTC-E.

BTC-E however seems to adapt more and more to what is happening over at Bitfinex instead of being a follower of Bitstamp. That's an interesting development.

The thing is, there are so many contradictory things going on.

The Chinese yuan is falling, and some Chinese might want to get their money into bitcoin to preserve it's value.

The Italians are voting today on a constitutional referendum, and if the govt loses they could resign, which might create turmoil in the markets.

On the other hand, the US economy is doing great and the Fed meets on Dec 13th and will likely raise interest rates. That should strengthen the dollar against gold and other currencies.

So the big question is, which is the strongest force? If it is the strengthening dollar, then bitcoin's price should drop. But if it is the desperation of the rest of the world to get their money out, and they can't buy dollars directly, they might buy bitcoin..

This confusion is what makes bitcoin fun!

All those talks about Yuan falling makes me laugh. Folks. China goverment and whole China in general view it as problem if their currency is going up, not down. Its bad for buisness for them. So if you hear someone saying that Chineese are wanting to preserve the value of their currency its not a news. It was the same in 2015, 2014, 2013 etc etc. Nothing new. And yeah usa doing great is not a news as well they keep saying that since 2009.

It's happening again!

its ALWAYS happening lol
but not many people are willing to send their btc into china or india to perhaps sell it for a higher price
because if they lock your account for any reason bullshit capital control reason  you are pretty likely
to lose the lot .........

China always was a driver of bitcoin growth. So, this fact that Bitstamp behind Chinese exchanges is usual thing.