Bitcoin Forum
October 21, 2021, 12:00:53 PM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: BTCChina ath is $800?  (Read 1049 times)
Taras
Legendary
*
Offline Offline

Activity: 1386
Merit: 1042


Please do not PM me loan requests!


View Profile WWW
November 18, 2013, 09:16:27 PM
 #1

BTCChina topped at 4879元, equal to $800.89, and is currently at 4750元, equal to $778.99.
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?
1634817653
Hero Member
*
Offline Offline

Posts: 1634817653

View Profile Personal Message (Offline)

Ignore
1634817653
Reply with quote  #2

1634817653
Report to moderator
1634817653
Hero Member
*
Offline Offline

Posts: 1634817653

View Profile Personal Message (Offline)

Ignore
1634817653
Reply with quote  #2

1634817653
Report to moderator
1634817653
Hero Member
*
Offline Offline

Posts: 1634817653

View Profile Personal Message (Offline)

Ignore
1634817653
Reply with quote  #2

1634817653
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1634817653
Hero Member
*
Offline Offline

Posts: 1634817653

View Profile Personal Message (Offline)

Ignore
1634817653
Reply with quote  #2

1634817653
Report to moderator
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218
Merit: 1017


Gerald Davis


View Profile
November 18, 2013, 09:19:22 PM
 #2

BTCChina topped at 4879元, equal to $800.89, and is currently at 4750元, equal to $778.99.
Why so high? Is it like Mt.Gox, where withdrawals cannot be processed? Or is it because yuan is to difficult for arbitragers to obtain?

All of the above.
a) BTC China has monthly withdrawal limits which are relatively low
b) Bitcoin is "newish" in China and thus there is more localized buying then selling.
c) Yuan is essentially impossible for foreigners to obtain.  To deposit or remove funds on BTC China requires access to a Chinese bank account.
Taras
Legendary
*
Offline Offline

Activity: 1386
Merit: 1042


Please do not PM me loan requests!


View Profile WWW
November 18, 2013, 09:27:30 PM
 #3

BTCChina just hit 5000元 Shocked
theonewhowaskazu
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
November 18, 2013, 09:48:57 PM
 #4

@OP: Yes.

Btc is presumably very popular in china, and since Yuan isnt really a freely floating currency, it effectively doesn't have a "real" USD exchange rate. So the difference in price is entirely reasonable. When BTCChina > Bitstamp by a significant amount, that basically means the amount of BTC flowing into china is greater than the amount of BTC flowing out.

dairy100
Member
**
Offline Offline

Activity: 74
Merit: 10


View Profile
November 18, 2013, 10:05:42 PM
 #5

btcchina is at 5080Y now
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!