Bitcoin Forum

im very bad with maths so could somebody [i assume loads of peope lthought about it] tell me is it worth to arbitrage coins between btc-e and bitstamp? i mean containign withdrawal and deposit fees on both.

Doing well with arb to Okcoin.

Okcoin needs verification or not?

ANd still i would lie kto know of Bitstamp since i have account there

I had to verify my email and my phone number for withdraws.

I just bluffed the name and when support emailed me I just kindly informed them that I was concerned giving my info to a site I just met... maybe if we could take it slow and they gave me my coins with no problems.

Very happy needless to say and I like their security more than other places I've seen.

If I would have stumbled across OKcoin rather than Mtgox back in the day I would have bought Bitcoin for $13 a coin :P  I took one look at Mtgox and thought "Fuck that noise."  I only thought of BTC as SR tokens back then anyways... times have changed.

Edit:

This doesn't mean I'd hold BTC with them or anything.  Surely we have all learned exchanges are not great wallets by now.  In and out, in and out.

why not buy on btc-e, sell on lakebtc
bitstamp sell price is not highest, and its fee not cheap.

whats lakeBTC fees and whats the spread?

also.. whats the verification process? :)

Generally speaking it will not be profitable for most people to attempt to arbitrage between exchanges. The overall profit is generally low, as the difference between pricing on exchanges is low, especially after taking trading fees into consideration.

I also think this is often how people end up with closed bank accounts as people puch large volumes of money though their bank account when attempting to arbitrage.

complete exchange review here https://bitcointalk.org/index.php?topic=695082.0  ;)

lakebtc fee is quite cheap for now, and the verification is need by wiuthdrawal

I wrote me a bot to check for this kinda arb, but never actually tried it, since I don't have the bank accounts to return the money.

i have option of loading BTC-E with USD and have optio nfo withdrawal USD from bitstamp so i would like to try.
btc-e loading costs a bit in fees.

This is the problem with trying to execute arbitrage. In order to do so that results in any kind of meaningful profits, you will need to transfer significant amounts of money through your bank account and this will likely result in your bank looking at your with suspicion and closing your account.

here is its arb plan can be refered https://bitcointalk.org/index.php?topic=765074.0

Yeap, when you have 0.1% fee on BombayBitcoinBourse.com - certainly worth it !

Thanks for the pointer. But it seems they don't have an API there yet, that could be used for automated trading?

so this is not as easy as i thought :(

I don't think you need an API to use automated trading (although I believe both bistamp and btc-e allow api access). All you need is to give your bot your account credentials and if your bot is created correctly it can access your account and execute trades, even via their website

I wrote website scraping code for btc-e to to withdrawals, but I'd rather avoid it these days.

I just heard and saw this site almost in 10 threads today, is it safe, did you use it for arbitrage?

Arbitrage works best with software and extensive capital on both exchanges.

Bitstamp fee is high, and its a very tedious verification system for aml/kyc, why not choose LakeBTC to replace it?

agree, lakebtc is more suitable for arbitrage, higher price than bitstamp but cheaper fee, ( price http://bitcoincharts.com/markets/) and the fee you can see https://lakebtc.com/s/fees?locale=en

the process is a one-time, they never again ask you to provide any proof, if you pass the verification, deposit and trade need not verification, even fiat so, and withdraw btc is also no verification, but withdraw fiat must need verification.

There hasn't been arbitrage that offer high profit since gox died, and that is the truth, now you need skill to know which direction something will go, however manipulators never cares about that, they just dump to hell or pump to heaven

ok i will ge tto LakeBTC!

I think you have to monitor all the exchanges for opportunities..

Im working on bringing up a website AIOBTC which can facilitate many things. I have researched arbitrage and I think it has dies up since mt. gox went down. Do you think that if we have a huge amound of money, say 100 BTC to trade daily
can we make profits without any risks?

No. I think there's always a risk. And another problem is, that you might need lots of currencies. Maybe like 100 or so. I'm working at the moment to run lots of wallets on a machine.

You can probably make a large amount of money on a relative scale however this will not be reflective of your overall performance. On a percentage basis you will probably not do all that well (on a NPV basis)