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Bitcoin Forum > Economy > Economics > bitstamp.net BTC discount relative to other exchanges
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gog1 (OP)
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June 21, 2013, 02:10:12 AM
 #1
Just looking for some insights on the BTC/USD discount relative to the other major exchanges (mtgox, btce)?
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empoweoqwj
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June 21, 2013, 03:51:08 AM
 #2
Prices are normally just below GOX, a dollar or two.

But weird things going on in last 24 hrs, probably due to MTGOX announcing it won't be processing USD withdrawals.

http://bitcoinity.org/markets/bitstamp/USD
http://bitcoinity.org/markets/mtgox/USD

Theory: People will be moving their bitcoins to bitstamp, and trying to sell there, in order to get their USD out of bitcoins. But bitstamp liquidity is still much lower than MTGOX, so there is too much selling pressure, so price has slid down.

Its a theory anyway  Wink
gog1 (OP)
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June 21, 2013, 04:36:21 AM
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Didn't notice the news on GOX.  Reasonable theory.  But I speculate something more cynical to the withdraw suspension.
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June 21, 2013, 04:38:34 AM
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Quote from: gog1 on June 21, 2013, 04:36:21 AM
Didn't notice the news on GOX.  Reasonable theory.  But I speculate something more cynical to the withdraw suspension.

Oh god yeah, I agree with your cynicism. First they suspend, then they .......
legitnick
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June 21, 2013, 04:54:23 AM
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bitstamp is usually the cheapest.
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June 21, 2013, 05:39:02 AM
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Quote from: legitnick on June 21, 2013, 04:54:23 AM
bitstamp is usually the cheapest.

not by 10%. This is unprecedented.
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June 21, 2013, 05:39:21 AM
 #7
Quote from: legitnick on June 21, 2013, 04:54:23 AM
bitstamp is usually the cheapest.

Any reason why it is the cheapest?
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June 21, 2013, 04:53:59 PM
 #8
Quote from: hl5460 on June 21, 2013, 05:39:21 AM
Any reason why it is the cheapest?
It is more trustworthy, so many people sell Bitcoins there to make cashout to bank account.
xenofanesSkarak
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June 21, 2013, 06:02:48 PM
 #9
how can this work for a long time?
what if 9out of 10people would exchange bitcoins for USD on BItstamp and than let it cash (ask to send usd on their accounts?)
wouldnot this impact bitcoin (price btc/usd would decline?) and wouldnot it imply some restrictions on bitstamp (user can Exchange only the same amount of usd which they send on bitstamp?)

Quote from: giantdragon on June 21, 2013, 04:53:59 PM
Quote from: hl5460 on June 21, 2013, 05:39:21 AM
Any reason why it is the cheapest?
It is more trustworthy, so many people sell Bitcoins there to make cashout to bank account.
painlord2k
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June 25, 2013, 10:13:27 PM
 #10
The anomaly disappeared.
It was, probably,  connected with the problems of MtGox with sending wire transfers.
A lot of people, in a hurry, decided to move their bitcoins to Bitstamp and sell there for US$.
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