Indonesian Largest Bitcoin Exchange Reach 788 USD while Other in 770 USD area

[Ayers]

that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only

[KennyR]

This might be due to the financial situation within the country. Recently the same thing happened with India due to the demonetization on which traders made the price to be above $900 for a week or too. Same might be with the Indonesian traders.

[fiscorcle]

that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only

Well bitcoin is selling for $768 right now on the North American market. So i think it is correcting it's self alot lately with it going up to $770 then back down for the past couple of days.

[hifzi]

 thank you to everyone for sharing,
i cant reply you one by one, because idont have too much time in internet world

maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their  condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many  ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,

This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,

[audaciousbeing]

how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?


is there inside trader?
if you want quick money. sent your  money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic

This is something that will continue that will push the price to that point because one of the things that gives relevance and what other lack is the speculation which is what we are saying. In no time the effect will multiply to other sites and it goes on and on... But the condition to trade is what will limit quite a number of people here.

[aso118]

Short answer - Bitcoin is freely transferable across the world, but fiat currencies aren't.
If there were no capital controls, fiat would be freely transferable and traders would instantaneously take advantage of arbitrage opportunities (like this one) and the price at all exchanges would converge.

[Wind_FURY]

how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?


is there inside trader?
if you want quick money. sent your  money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic

Do not worry about it. Of course there will be traders who will do some arbitrage trading and make the markets efficient again. So your suggestion is nothing really new. There are already people who are making money out of the inefficiency in the price.

[BrewMaster]

thank you to everyone for sharing,
i cant reply you one by one, because idont have too much time in internet world

maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their  condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many  ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,

This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,

it is only supply and demand that dictates the price of bitcoin and everything else. when there is a higher demand prices go up like this and Indonesia is experiencing this higher demand right now.

the reason why it is not the same as other exchanges is (as always with similar cases) the difficulty and in some cases impossibility of transferring money to and from that place.

[error08]

This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.

This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,

I thought it happen simply because of bitcoin has spread widely at there and the demand increases since last few years, there is no correlation or its different compare to Indian exchanges that got increased demand because of cash crisis.
As long as I ever seen since the first time I keep on eye on the price, Indonesian exchanges always have higher exchange rate than international currency such as USD or Euro.

[Nahl]

how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?


is there inside trader?
if you want quick money. sent your  money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic

first of all i have never heard about that exchange before in my life and even if i knew about it i would never trust them with my money by just randomly sending it there to take a small arbitrage profit.

also this is not a new thing, many Asian exchanges mostly in China have $800 for price from time to time.

this is local exchange and because maybe you not come from indonesia this exchange was suspicious for you but for indonesian people this is the biggest exchange BTC-IDR so they obviously trustworthy and plenty active traders at there even i did trade there too regularly

[iqlimasyadiqa]

that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only

Well bitcoin is selling for $768 right now on the North American market. So i think it is correcting it's self alot lately with it going up to $770 then back down for the past couple of days.

bitcoin prices will change at any time. and prices in some exchange in each country would have been different.  This is the uniqueness of bitcoin, bitcoin may have a high price and also low. bitcoin price movement is always changing every moment. so, no one will be able ensure the price of bitcoin.

[hifzi]

Now the price is reach above 800usd,
Its suspicious to me,
Because market alwats buy buy buy and small people who try to sell,
In country also no news about bitcoin in every biggest news media unlike india,
Maybe there are people who have unlimitwd money here, but i feel its suspicious, want to stay away for awhile

Maybe i want to witdraww allll money , but since now is weekend till tuesday, i need to wait,

Thanks every one

[Shiroslullaby]

Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.

[Nahl]

Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.

just visit to this link https://vip.bitcoin.co.id/ and then post your opinion at here and not only guessing because just like i said before that this is big exchange in indonesia and for each days volume support for bitcoin approximately 100 btc-500 btc even some times ago volume support in this exchange could reach more than 1000 btc indeed that's not really huge if we compare with bitfinex or huobi but i think those volume is pretty high

[talkbitcoin]

Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.

just visit to this link https://vip.bitcoin.co.id/ and then post your opinion at here and not only guessing because just like i said before that this is big exchange in indonesia and for each days volume support for bitcoin approximately 100 btc-500 btc even some times ago volume support in this exchange could reach more than 1000 btc indeed that's not really huge if we compare with bitfinex or huobi but i think those volume is pretty high

it doesn't allow seeing the exchange page like the orderbooks, charts, etc without an account first (it needs registration) and for that it requires phone number something that most people are not willing to give.

also based on their help page, they do not offer USD deposits, so what is the point of this thread i have no idea!

[cengsuwuei]

This international customer or client, vip indonesian exchanger is reduce is good
because only support pair use IDR not USD, so only can trading can't withdraw to account bank
only trading to international customer, volume transaction vip is low is compare bitfinex huobi okcoin btce bitstamp and more

maybe if international client can interest join in there, verified account must easy, and support pair USD, and can easy withdraw account USD
maybe transfer wire, fasapay account or another online procesor