Questions about arbitrage.

[hewitt08]

Any one can answer the questions below?

- If I keep buying bitcoins in the US and selling them in another country, is this illegal?
- How often can I wire the money from overseas to the US and wire it to the exchange?
- Any amount of money will be captured by IRS or FBI?
- If all the money is my own, any problem? Let's see I use $50k to buy and sell, again and again.

[1715128048]

1715128048

[1715128048]

1715128048

[jimbo2000]

Any one can answer the questions below?

- If I keep buying bitcoins in the US and selling them in another country, is this illegal?
- How often can I wire the money from overseas to the US and wire it to the exchange?
- Any amount of money will be captured by IRS or FBI?
- If all the money is my own, any problem? Let's see I use $50k to buy and sell, again and again.

As long as you are in compliance with the local exchange laws then no. A large majority require you're resident in the country though (at least those with highly different prices)
As often as you like
Your bank will probably notice large transactions going in and out frequently and will then either ask you to explain them or notify the authorities.
No problem.

[squatz1]

Moving amounts like 50k throughout international wire transfers and then being sent back is going to have a RED FLAG raised by your bank, as that's going to look insanely fishy from a normal individual bank account in the USA. Authorities are going to be alerted and most likely you're probably going to get your account closed down, I'd look into bitcoin-friendly banks that would allow for this sort of behavior (or don't care about this behavior)

It's not illegal to trade, though I doubt you're going to be able to get accounts in closed off foreign markets. And no there's no problem with using your own money, just be ready to lose it is all.

[megashira1]

Altho legal, the banks arent going to take on the risk of having you as a client and will shut you down. Nothing you can do.

If it was that easy, we wouldn't still have the relatively large spread discrepancies between exchanges.

[player514]

Any one can answer the questions below?

- If I keep buying bitcoins in the US and selling them in another country, is this illegal?
- How often can I wire the money from overseas to the US and wire it to the exchange?
- Any amount of money will be captured by IRS or FBI?
- If all the money is my own, any problem? Let's see I use $50k to buy and sell, again and again.

1) It's likely legal. Just make sure everything is in compliance with the exchange's rules and I think arbitrage is in the clear.

2) I don't know how the banks will respond to that if you're moving around a large sum. Just be careful in how you do it.

3) Depends on how clean you are and the rules in the country. If you're moving around a lot of money and it looks suspicious, your bank will likely freeze your account. I don't know if they'd take a portion of it or not, but I assume that if you're in a country where BTC trading is frowned upon, it might be likely.

4) No, there shouldn't be any issues on that.

[jlanzago]

1. No. But consult your lawyer.
2. As often as you like, without exceeding the limits that the exchange has. Plus lots of wire transfers may carry hefty fees. Still, if you wire fiat funds on an off a lot, even when not illegal, may rise red flags and potentially an investigation. If you are not doing anything wrong, no problem.  
3. You have to pay your taxes on the profits. Consult your tax advisor.
4. Why would it be?

[megashira1]

hmm..

As to mitigate risk of having ones primary bank account closed, would it not be wise to transfer funds to an intermediate bank account before Wiring to an exchange? Therefore if you get shutdown only the amount exposed in the alternate bank account gets tied up? Or will they try and draw some correlation between accounts and shut down both?

[South Park]

Any one can answer the questions below?

- If I keep buying bitcoins in the US and selling them in another country, is this illegal?
- How often can I wire the money from overseas to the US and wire it to the exchange?
- Any amount of money will be captured by IRS or FBI?
- If all the money is my own, any problem? Let's see I use $50k to buy and sell, again and again.

As long as you report your earnings to your tax authorities then everything is fine in fact there are two bigger obstacles to arbitrage, one most local exchanges require you to be a citizen or a resident to open an account this is why most traders that use this strategy have a partner and second your local bank will begin to ask questions about what you are doing and it is likely they will close your account when they find out what you are doing.

[Reid]

You will have a problem with the exchanges now.
They need more information than getting an SSN. 
It is like a passport now and that is where you will be stopped.
Plus, you cannot do much arbitrage when they are taking a lot of time before your transactions are confirmed. With this fluctuations it will be better to just stay with one trading website. They will just keep on stalling you if you keep on insisting.

[andreevaviktoriy77]

The simplest way is to earn on the Crypto currency by arbitrage trading strategy. Buy cheaper, sell at a higher price elsewhere. If you buy in the US the main thing is to get used to the rules set in this country and you will not even have a thought that there will be problems. And just like in the US and in another country they stand equally. Do not worry. Buy on the Japanese exchange.