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1021
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Economy / Service Discussion / Re: manual for convenient and quick riskless hedge arbitrage across the exchange
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on: June 29, 2013, 02:45:53 PM
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Screenshots look pretty nice.
The arbitrage example you described sound good on paper. But finding a counter party to take other side of a trade isn't always viable. After all, if one side is making sure profit, why would anyone take the other side of a trade?
Edit: Just finish reading the 3rd post. Well, if you are not handling currency, I do not see what value the exchange have over other.
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1023
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Economy / Exchanges / Re: Official CaVirtex.com Thread
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on: June 29, 2013, 10:35:19 AM
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Hey Jack, love the exchange, except for the cost to trade.
3% on both sides for a total of 6% per trade is a bit ridiculous. I would like to see your trade fee go down to at very most 1.5% per side for a total of 3% per trade. Looking at your numbers you would still be doing extremely well.
Keep in mind that Paypal only charges merchants 3% to accept payments.
Please consider getting in line with the other exchanges' trade fee's.
Thanks,
Have to agree with this one. No serious trader going to pay 3% per transaction. Bitstamp fee is reasonable low to be able to attract traders/market maker from mtgox to them We live in a competitive world. Efficiency is the only way to run a viable business. |
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1024
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Other / Beginners & Help / Re: Mt.Gox is also not processing EUR SEPA wires - probably they are bankrupt
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on: June 28, 2013, 07:47:55 PM
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If MtGox does go under it is going to pummel bitcoin value - and as a consequence possibly result in the ASIC revolution stopping dead as orders get pulled and manufacturers go under. After all who is going to buy a USD 5K mining rig when BTC is worth <$10.
As to the idea that brokerages that make 0.6% on each transaction cannot go bust - just google John Corzine. Remember MF Global......
Jon Corzine was gambling with customers money. Mtgox problem is government trying to stop them from able to move money. |
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1025
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Economy / Service Discussion / Re: MtGox <> BTC-e arbitrage?
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on: June 28, 2013, 05:20:41 PM
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You did not understand what is "arbitrage" did you?!
The condition exists only because of the mess mtgox is in right now. If there is no barrier to move money, the commission/fee alone will take out all the profit and leave nothing for arbitrage. |
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1027
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Economy / Currency exchange / Re: [Buy/Sell] BritXchange.eu - Bank / LR / PayPal - Cheap, fast and trusted.
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on: June 28, 2013, 03:16:42 AM
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Not to knock your hustle or anything but PayPal will figure out what you are doing eventually.
Clowns send wallet addresses and Bitcoin related info in the PP notes all the time. You are being naive if you think they don't eventaully look at that stuff. They are generally suspicious of all users who aren't eBay Powersellers or well established brands (Kmart, Target, etc.)
You'll likely get the limitation that reads: "We'd like to know a little more about some of your recent transactions."
Not hating because do what works for you, just saying protect yourself. Set up some backup Paypal's or switch to something better. Thanks man, I know what you mean. I've found a way to secure payments before I give out BTC. I like to add that if they ban you. It is a life ban and it will be extremely hard for you to get another account again. Not even for people sharing the same household. |
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1029
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Other / Beginners & Help / Re: Mt.Gox is also not processing EUR SEPA wires - probably they are bankrupt
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on: June 28, 2013, 03:00:05 AM
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Mt.Gox is a lot of things, but bankrupt is not likely one of them. They make a ton of money and they obviously don't invest all of it back into hardware and software. I'd put my money on incompetence rather than bankrupt, but I don't know that that makes it any better.
I will tend to agree with this one. Hard to believe a brokerage business going bankrupt when they are charging 0.6% both sides, unless they got most of their USD seized by authority. Even then, it shouldn't take them more than 1-2 years to recover if the volume stay. |
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1030
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Economy / Exchanges / Re: MtGox EUR (SEPA) wires aren't processed either.
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on: June 28, 2013, 02:51:45 AM
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One thing that disturbed me is they said Citibank refused the wire. But Citibank support told me there isn't any incoming wire.
Isn't it odd they still take incoming deposit while the outgoing one have problems? Anyone depositing in care to comment?
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1033
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Economy / Service Discussion / Re: So what happens if Gox misses their deadline in one week?
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on: June 28, 2013, 02:35:32 AM
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There is this biased that anyone with big enough capital can manipulate the price upward, one could argue this is part of the demand side.
But anyone with enough capital can not drive down the price, there is no mechanism to short bitcoin (unless mtgox change their policy to allow naked short using money as collateral).
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1035
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Economy / Services / Re: Want to come to usa?
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on: June 27, 2013, 02:32:07 AM
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where do you live that is so free?
Netherlands and Switzerland aren't bad if you are lucky to born there. But if one is born in a ruling class/family, even 3rd world country aren't that bad if one have no intention of making the country a better place. |
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1036
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Economy / Service Discussion / Re: MtGox wires ARE delayed
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on: June 26, 2013, 08:44:13 PM
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There is a exchange called BitStamp that will solve all of your issues. Their customer support is far superior to Mt.Gox, wires take 1-2 days, getting verified is very easy and takes little time. So far I have yet to see their API go down. I would recommend trying them out as Mt.Gox seems to be spiraling downward.
Buying bitcoin at mtgox and then selling at bitstamp cost too much. Cost around 0.6% to buy at mtgox, around 0.5% to sell at bitstamp and the price difference between the two exchange is around 3-5%. Then there is a fee to wire the money out from bitstamp. If anyone want to play save and get their money right away. Then this might be one of the only two routes (coinbase being the other. I don't mention campbx because of their low volume and even bigger price difference.) |
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1037
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Economy / Services / Re: Want to come to usa?
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on: June 26, 2013, 03:42:33 AM
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WoW, learn something new every day  Now where do I find a wife willing to pay me. LOL Try a dating/match making center in big city. Ever heard people buy some 3rd world wife for 6k? |
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1038
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Economy / Services / Re: Want to come to usa?
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on: June 26, 2013, 03:39:37 AM
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Seriously 70k? I thought russian girls paid millions
Think of it this way. If someone has million of dollars, why would they want to want to come to US? The legal way of getting a green card cost much less than a million. |
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1039
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Economy / Currency exchange / Re: [WTS] Mid to Large Quantity BTC for CASH, bank deposit, silver, gold.
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on: June 26, 2013, 12:43:32 AM
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I should reply that I'm really not looking to do anything less than 1k, prefer around 5k minimum. Looking for an individual who wants to absorb tens of thousands a week.
The isn't really any viable way to sell large amount of bitcoin without paying slippage. People in the US can not get money out from Mtgox, and the only other option are bitstamp and coinbase. |
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