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Title: MTGoxJPY Post by: Mageant on November 14, 2013, 03:17:46 PM The MTGox Japanese Yen market seems to be on the move up.
It's now trading more BTC volume than bitcoin.de. AFAIR it was always one those trading spots that could be ignored. Now it's in 6th place on bitcoincharts.com and has more daily volume than MTgox Euro. Interest rates in Japan are very low and Japanese typically also save a lot of money, so it seems it would be useful for them as an investment. Bitcoin is catching on, I'm tellin' ya... Title: Re: MTGoxJPY Post by: Savior on November 14, 2013, 03:22:42 PM I think it's more likely to be arbitrage traders making alot of money on this opportunity.
Title: Re: MTGoxJPY Post by: Mageant on November 14, 2013, 03:27:29 PM I think it's more likely to be arbitrage traders making alot of money on this opportunity. Arbitrage with what? 43800 JPY is 438 USD which is close to what MtgoxUSD is trading. Title: Re: MTGoxJPY Post by: barbs on November 14, 2013, 03:32:18 PM I think it's more likely to be arbitrage traders making alot of money on this opportunity. Arbitrage with what? 43800 JPY is 438 USD which is close to what MtgoxUSD is trading. They can pull JPY directly out of the bank in Japan from MTGox. IE they're the only ones who have liquidity with MTGox. So for them the higher gox proce and quick access to funds makes arbing by buying at lower priced exchanges simple easy money Title: Re: MTGoxJPY Post by: Mageant on November 14, 2013, 03:42:11 PM I think it's more likely to be arbitrage traders making alot of money on this opportunity. Arbitrage with what? 43800 JPY is 438 USD which is close to what MtgoxUSD is trading. They can pull JPY directly out of the bank in Japan from MTGox. IE they're the only ones who have liquidity with MTGox. So for them the higher gox proce and quick access to funds makes arbing by buying at lower priced exchanges simple easy money But where is the JPY coming from in the first place for the high MtGoxJPY price? |