Arbitrage

[TKeenan]

Well, someone got their arbitrage bot up and running.  And that damn thing is locked in.  Did you see how closely MtGox and Coinbase are running today?  Wow!  I've never seen them stay a similar price for even a brief moment.

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[PirateHatForTea]

The % difference between chinese prices in USD and Gox or Bitstamp has also reduced quite a lot. I think some people have rushed to open btcchina accounts and are trying their hand at arbitrage, or maybe some Hong Kong traders have discovered Bitfinex.

I would expect the % diff between the other exchanges and china to continue to decrease in coming days, especially since CampBX plan to allow CNY denominated trading.

[BitPirate]

Hi,

Some people have been finding ways to arbitrage successfully on rmbtb.com.

As a foreigner, you can get an Alipay account, but you can't withdraw more than CNY 2k without being verified (which requires a Chinese ID).

However, some people have been able to buy products/services on Taobao using their Alipay account but indicating us as the payee. This is fine for us; we charge a 0.5% fee. On Taobao you should be able to find money transfer services (e.g. PerfectMoney). We are not affiliated with these in any way, and don't offer any recommendations.