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Author Topic: Looking for Japanese bank account for bitstamp/mtgox arbitrage  (Read 1293 times)
WilcoLaad
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October 29, 2013, 02:52:39 AM
 #1

Not sure if this will work, but thought I'd give it a try...

I presume the large difference in price between bitstamp and mtgox is due to the difficulties of withdrawing currency from mt gox. Is there anyone out there with a japanese bank account (or some other non-US or EUR account) who can withdraw from mt. gox more quickly? If so, we can partner up to move money between my accounts in the US --> bitstamp --> mt gox --> your account and we split the arb profits. Any takers?

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Colaxais
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October 29, 2013, 09:14:23 AM
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Banks are really backwards in Japan - I'm not sure you'll run into many people who even have internet banking, and fees can get pretty heavy. It's probably a pretty risky system to set up all over, and a lot of effort, too.
bakada
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October 29, 2013, 10:47:44 AM
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Colaxais
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October 29, 2013, 10:52:22 AM
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I'm not sure you'll run into many people who even have internet banking, and fees can get pretty heavy.

Why even state things you clearly have no understanding or experience of? 

I live in Japan, numpty. Sending money back home can be a real pain in the arse, and everything costs here, even taking your own money out of the bank.
For what he's looking for, I doubt he'll find someone in Japan prepared to go through all the hassle unless it's serious cash, and then there's a huge amount of trust involved.
bakada
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October 29, 2013, 11:27:48 AM
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Colaxais
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October 29, 2013, 11:59:54 AM
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Yeah, as I mentioned via PM, I could have made it clearer - I can't see a lot of the people on here even bothering to set up internet banking, and the basic services from banks are very basic in my experience. Citibank might be reasonable though.
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October 31, 2013, 11:45:54 AM
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If so, we can partner up to move money between my accounts in the US --> bitstamp --> mt gox --> your account and we split the arb profits.

So...why do they need you?  Grin

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November 01, 2013, 12:17:34 PM
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WilcoLaad
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November 08, 2013, 03:29:45 PM
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Thanks...thought it was a longshot, but thought I'd try anyway. Good luck guys!

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