Bitcoin Forum

can someone explain this to me.

all btc eth etc ltc are nearly have double prıze at korea than the other exchanges.

for example eth ıs 170 dolar around at polo but ıts 280 around at korea. who ıs stupıd. korean buyers or polo sellers ??

Why do people have to be stupid?

exactly why ? :)

eth bıthumb prıze ıs 286 dolar
eth polo prıze ıs 183 dolar

ısnt here any stupidity.

why peope buy ıt from 286 dolar even polo has ıt from 186 or just the opposıte. why polo sellıng ıt.

Probably has to do mostly with the demand for cryptos there, if there is a large demand but the supply isn't exactly huge then it would make sense for a lot of the exchanges to be trading at higher than the normal rate, but double seems fantastical to be honest. I would have expected some people to start sending their funds to exchanges like that and exploiting the value difference that exists there.

ıts not about the supply bud. for etc %60 of all supply ıs marketıng at korea. same for ether too. thıs ıs the rıddıculus thıng %60 of money tradıng from 280+ dolar and for example ın polo ıts tradıng from 180 dolar just wıth %20 supply.

The price of the coins in the market are always depending on the demand of the people, as long as there is a demand in the market that has a higher price then it will be the base price of the coin. It doesn't matter to them, in my opinion. As long as they have to make profits then it is still okay for them to deal with a higher price.

Different exchange doesnt have a uniform value of a coin. The price is dictated by the movement of the market, the reason why the altcoins in koreas was much more expensive than the other exchanges is due to its demand. But it does not mean that people are stupid since they have good reasons why they purchased those coins. If you visit the website cryptocompare you can see that in diferrent exchanges there are different prices.

I think it's not just in korea but all countries, in my country is more expensive about 5% from china exchanger, this is the trend of cryptocurrency and everyone is trying to make the best coins.

you should check first if those exchange don't have some issue, like deposit issue, coin being stuck, problem with their bank, usually when the price is higher either you can't get coins out of the exchange or you can not deposit

this happened at bitfinex for example, maybe it's not the case here but you need to see this first, or it could be that there are some restriction or heavy delay on payment, i doubt investors are so retarded to pay 2x higher...

Isn't it possible for Korean people to buy coins at other exchanges? Why would anyone pay that much more to buy BTC or ETH?
At those prices, you'd probably not even make a profit unless you're selling on those same exchanges, thus perpetuating the problem.

ı really dıdınt understand what ıs goıng on. ıt s not about exchage sıte's probmlem about deposıt. because there was no problem at the begenıng. that deposıt wıthdraw problems started after prıze dıfference because some guys used ıt for arbıtraj. there ıs %50 arbıtraj. and seem polo whales doesnt allow to prıze up to make arbıtraj there.

There seems to be no reason that's why it's strange the price is hitting that  high in Korea. There must be some good reason of that sort but it's not forthcoming.

If I were a korean , i will find a way to buy at some other exchanges , unless they can track the transaction and its forbidden to their laws. I cant see any reason why it will be that high.

It can't be determined by a simple reason, It has happened on my local exchange site.There is a lot of gap with another common exchange site such as polo, and kraken.
This about the hype of the community between the exchange site or local communities itself.
As far as I know, there is not a problem on the korean exchange site.

You should try another alternatives in buying coins other than your local exchangers if it was a little bit high compare to other markets there are some online seller accepting paypal or creditcards for eth or btc.

In my opinion, the excess demand that will increase the price of Bitcoin in korea countr

Don't settle for things that are too much if there are available that can benefit us more , i don't know why theres a reason for increase in korea specifically but in some exchange they mighy offer same price in every country.

I think you're right about the restrictions, it could be the reason why the Korean exchanges are selling it that high. Politically you know South Korea and North Korea are at odds and who knows maybe the happenings on the ground has prompted many to move their money's away from the country and they could easily do it through cryptocurrencies that's why the exchanges also want to take advantage and profit.

When a country is highly isolated from the rest of world in terms of money conversion/ wire transfer, people will be forced to pay higher fees for their needs. This what happening right now with Korea.

With the respect to their available payment options, they are unable to buy from international markets but they are being forced to deal only with local people/exchanges. This had happened to India by end of last year when they banned their top currency notes.

I believe that they are out of Bitcoin and ethereum and because of that fact, the prices must be higher than usual in order to cover the huge demand of cryptocurrency in this country. in my country, the bitcoin price is also 10% higher than the world price

Koreans have difficulty getting verification for exchanges, I read somewhere they even need to do a face to face interview as part of their KYC and AML processes. This has led to an increase in the prices of crypto for Koreans across the board.

I understand your concern and that's only mean people in South Korean can't or just a few who can deposit fiat money into Poloniex to buy bitcoin or other coins and withdraw KRW from Bithumb. And cryptocurrencies adoption in there has grown rapidly because government and banks support it.
"The South Korean government has been very friendly towards digital currencies, and the country is steadily becoming a technology hub. Just recently the government lowered the equity capital requirement for bitcoin companies working with remittances. The new statutes will begin on June 18 with a reduction of required capital to 1 billion KRW in contrast to the prior requirement of 2 billion KRW.
Additionally, researchers from the South Korean central bank recently released a report that detailed that virtual currencies like bitcoin can “coexist with fiat.”. In the past few days, bitcoin price has reach $4494 per btc in South Korean, fantastic inceases compare to global price. Read more http://www.zerohedge.com/news/2017-05-25/bitcoin-blows-throuigh-2500-2600-2700-overnight-south-korea-demand-soars

People are not stupid. This is just the demand and supply problem. Besides Korea, Japan and India are also having the same high price at the local exchanges.

1.) When the supply of bitcoin from local market is low, supply have to come from overseas.
2.) When the supply need to be obtained from overseas, funds have to be transferred to overseas.
3.) To transfer fund to overseas, you will need to have overseas accounts and each transfer will cost you a high transfer fees.
4.) To profit, you need to increase the price....

Another problem is that, when you have transactions involving huge amount to overseas accounts, bank might ban you because you might be  linked to high risk/anti-bank investments like bitcoin...

Earlier japan adoption boosted bitcoin price but now its south korea's turn.South korea has already been friendly to crypto currencies and is now becoming a technology hub.South korean bitcoin traders are facing asking price of $4500 as demand for bitcoins is steadily rising.The region has become dedicated to bitcoin remittance and financial tech advancement.Some have said that bitcoin price varies high in south korea since south korea is moving towards a dept-fuelled bubble economy.

I don't any of them is stupid! It is just the force of demand and supply of coins Korean. The korean demand for litecoin, ethereum and bitcoin may be too high then the supply of them and because of this example sellers will sell at the high price.

This is so easy to answer if you are going to do some researches korea now has the biggest internet knowing that korea is also one of the richest country now a days,bitcoin and other coin is expensive in this country because they are stacking some coins and they know that this alts and bitcoin is the future currency.

I guess it has something to do with demand and supply. Supply seems to be less in korea than the demandd there.. thus giving rise to the increased price of cryptocoins..

Yeah its the economics so even crypto is still related to this system the more the demand the more the price will rise up its applied in korea and for sure like japan and australia they will also bring big impact to this industry we just have to wait at watch out.

This happens because the demand for market prices in korea so much that many investors who enter into it so many entrepreneurs are trying to make the coin is capable of high value in korea and there is so much exchange there so that the value of coins in korea higher than the other .

This is an interesting thing, almost all the coins in South korea is more expensive, this is a good opportunity for the developers of the original Korean to make the coin itself so that it can be quickly accepted citizens of South korea.