Hey guys
,
I am thinking about building this service:
You can send your Bitcoins between different exchanges instantly (like money with Bitinstant). So you would come to my site, login to MtGox, fill address of Bitstamp (let's say) and your bitcoins will be instantly at Bitstamp for little fee. This could be used in arbitrage when you need to have your Bitcoins at another exchange quickly.
My question are:
1. Do you think it's usefull?2. Do you know how to create a ticket at MtGox which will send Bitcoins between two MtGox accounts? Bitstamp has a Bitstamp coupon, right? I am trying to digg through MtGox API.Thank for your suggestions
It'd be very, very useful. Arbitragers would line up in a circle around the entire web to use this if the fee is low enough.
...But is your bankroll big enough? What do you do when on a heavy afternoon you're already pushed to your limit and someone requests a $50,000 move?
Arbitragers don't usually move $10 at a time... I wouldn't expect to use it in chunks less than $500 in value.
Perhaps if you have 1/4 Million USD on standby for each day it takes to transfer to you. That should be good enough to start.