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Author Topic: How to get some bitcoin for $61 when spot is $68  (Read 1105 times)
Walter Rothbard
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March 21, 2013, 03:19:06 PM
 #1

This idea will probably stop working when word gets out, but it seems to be working for some people.

If you watch the BTC/USD market on Vircurex, there is usually a pretty big spread, the price swings pretty wildly, and if you can get some fiat over there and place a lowball buy order, there's a good chance it will be at least partially filled:

https://vircurex.com/orders?alt=usd&base=btc

At time of this writing, last vcxUSD is $61, while last mtgoxUSD is $68.90582

Fiat is scarce on Vircurex and is at a premium.

The only deposit method for fiat on Vircurex is VouchX.  You can obtain VouchX from AurumXchange or from bitinstant.com.  The easiest way is probably from your USD bank account -> Dwolla -> bitinstant -> VouchX USD -> Vircurex, but I'm sure there are more economic ways.  I did exactly this a couple of weeks ago and got a great deal. Smiley  I'm fiat-scarce at the moment, though, so I thought I'd share for anyone else who wants to try this out.  I am assuming that the situation is probably really similar for vcxEUR.

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ehoffman
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March 21, 2013, 03:23:44 PM
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I'm checking and 61 is the buy price.  If you want to buy, you'll need to match a sell price, which is at 68 right now.  Smiley

But I did similar exchanging BTC for PPC/TRC on other sites which had them at low value, and converting back to BTC at vircurex during the altcoins rush.

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Walter Rothbard
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March 21, 2013, 03:34:33 PM
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I'm checking and 61 is the buy price.  If you want to buy, you'll need to match a sell price, which is at 68 right now.  Smiley

You can always place a lowball offer and see what happens.  Somebody bought for $61 very recently.  Fiat is at a premium on VCX, and when people want it, they will sell Bitcoins for it at low prices.

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March 21, 2013, 06:13:48 PM
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My plan has succeeded, Vircurex price is now spiking...  Roll Eyes

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