uck (OP)
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January 27, 2014, 01:10:51 AM |
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With the everpresent price difference between MtGox and all the other exchanges in USD, is there no one on the planet that can come up with an arbitrage strategy to take advantage of this, (at the time of this writing 200$ per coin) price disparity and buy coins on the low exchanges on sell them on Mt Gox for Dollars until the low exchange price rises up and MtGox price drops, thus acheiving an equilibrium? I know why US citizens can't do it, but citizens in other countries with supplies of USD should be eager to make a quick USD arbitrage haul, right? this price difference needs to be much closer thru some sort of automated trading strategy that someone builds a bot for... If not, MtGox and the other exchanges might trade amongst themselves to make similar arbitrage profits.
Comments?
edit : no one on the planet, not no on on the planet.
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jonanon
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January 27, 2014, 04:07:23 AM |
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This question has been asked a thousand times before - getting fiat out of Gox is impossible, hence why the price is higher.
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JMATTH33
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January 29, 2014, 12:14:15 AM |
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With the everpresent price difference between MtGox and all the other exchanges in USD, is there no one on the planet that can come up with an arbitrage strategy to take advantage of this, (at the time of this writing 200$ per coin) price disparity and buy coins on the low exchanges on sell them on Mt Gox for Dollars until the low exchange price rises up and MtGox price drops, thus acheiving an equilibrium? I know why US citizens can't do it, but citizens in other countries with supplies of USD should be eager to make a quick USD arbitrage haul, right? this price difference needs to be much closer thru some sort of automated trading strategy that someone builds a bot for... If not, MtGox and the other exchanges might trade amongst themselves to make similar arbitrage profits.
Comments?
edit : no one on the planet, not no on on the planet.
Maybe MTGox do their own arbitrage, as they are probably the only people able to withdraw quickly from their own exchange? Buy coins from other exchanges and sell them on MtGox. Rinse and repeat. |
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danieldaniel
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January 29, 2014, 12:16:48 AM |
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This question has been asked a thousand times before - getting fiat out of Gox is impossible, hence why the price is higher.
This. Also, arbitrage in Bitcoin is ("risk free" by definition) all but impossible at the moment unless you have millions in cash on more than one exchange. Any trade that has a delay cannot be risk free. |
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techgeek
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January 29, 2014, 12:21:23 AM |
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Having to risk majority of the money and tied up, is not a way to go.
I`d probably invest in other areas. In my point of view arbitrage is impossible at this point.
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uck (OP)
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January 29, 2014, 12:25:03 AM |
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Maybe MTGox do their own arbitrage, as they are probably the only people able to withdraw quickly from their own exchange? Buy coins from other exchanges and sell them on MtGox. Rinse and repeat.
perhaps is Gox is not doing this leads me to the only conclusion possible - that they really don't actually have the USD they claim, that perhaps back when they were the only exchange they inflated the number of bitcoins shown on the site, and now they can't pay those coins back... just my .000002btc |
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empoweoqwj
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January 29, 2014, 06:17:59 AM |
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With the everpresent price difference between MtGox and all the other exchanges in USD, is there no one on the planet that can come up with an arbitrage strategy to take advantage of this, (at the time of this writing 200$ per coin) price disparity and buy coins on the low exchanges on sell them on Mt Gox for Dollars until the low exchange price rises up and MtGox price drops, thus acheiving an equilibrium? I know why US citizens can't do it, but citizens in other countries with supplies of USD should be eager to make a quick USD arbitrage haul, right? this price difference needs to be much closer thru some sort of automated trading strategy that someone builds a bot for... If not, MtGox and the other exchanges might trade amongst themselves to make similar arbitrage profits.
Comments?
edit : no one on the planet, not no on on the planet.
Like you imagined you were the first person to think of this strategy? You are actually about the millionth. The very fact the huge price differential is there should have shown you IT DOESN'T WORK |
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uck (OP)
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January 29, 2014, 06:43:26 AM |
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But, if no one can withdraw money, except maybe yen, eventually gox will die a horrible death. The price diff does not fix the problem. Why is anyone still using them?
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empoweoqwj
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January 29, 2014, 09:43:23 AM |
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But, if no one can withdraw money, except maybe yen, eventually gox will die a horrible death. The price diff does not fix the problem. Why is anyone still using them?
Yen is starting to be delayed by 10-20 days ..... only noobs attracted by lazy newspaper articles are using them. They have no idea the pain they are bringing on themselves. |
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empoweoqwj
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January 29, 2014, 11:30:59 AM |
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Plus SEPA delays for up to 3 months, plus Japanese withdrawal queues getting longer. The end is nigh. |
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jcoin200
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January 29, 2014, 06:45:20 PM |
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The only time I have seen discrepancies that you could make money on is when the price is moving fast. Like when it was rising in November, I saw $100 differences btw CampBX and Coinbase. It would have been possible to buy at CampBX, then transfer and sell at Coinbase for profit. Now that the price has more or less settled, I haven't seen the opportunity again.
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boumalo
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January 29, 2014, 07:28:09 PM |
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Maybe MTGox do their own arbitrage, as they are probably the only people able to withdraw quickly from their own exchange? Buy coins from other exchanges and sell them on MtGox. Rinse and repeat.
perhaps is Gox is not doing this leads me to the only conclusion possible - that they really don't actually have the USD they claim, that perhaps back when they were the only exchange they inflated the number of bitcoins shown on the site, and now they can't pay those coins back... just my .000002btc If Mtgox was doing the arbitrage the price on Mtgox would go down on Mtgox Aren't some withdrawals fast? I read that withdraws to Japanese banks used to be proceed fast so they should arbitrate crazily |
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jonanon
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January 29, 2014, 08:42:31 PM |
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Maybe MTGox do their own arbitrage, as they are probably the only people able to withdraw quickly from their own exchange? Buy coins from other exchanges and sell them on MtGox. Rinse and repeat.
perhaps is Gox is not doing this leads me to the only conclusion possible - that they really don't actually have the USD they claim, that perhaps back when they were the only exchange they inflated the number of bitcoins shown on the site, and now they can't pay those coins back... just my .000002btc If Mtgox was doing the arbitrage the price on Mtgox would go down on Mtgox Aren't some withdrawals fast? I read that withdraws to Japanese banks used to be proceed fast so they should arbitrate crazily It is taking longer to withdraw to Japanese banks - more and more delays - it has already been posted above. |
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teramit
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Activity: 1870
Merit: 1387
The Last Cryptocoin Burner
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February 03, 2014, 04:57:57 PM |
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i can buy btc locally 775$ i am open to any arbitrage option if you want to buy btc from me i can sell you 800$ i got more then 150btc
price wont be change for a month i think.
more then 1 btc trade is rational.i can sell via wire transfer.
if you think about paypal it adds %6 which makes 848$ and its not a good price i already sell with that price on localbitcoins if i found someone.
if you think to buy btc from me send p.m.
i interest to sell 5-10 btc at a time but you can start with 1 btc.
wire transfer causes you 30-50$ so at least 3 btc you should buy, it is up to you.
i can sell through localbitcoins and crypto thrift i have feedbacks there.
if you have any offer for other transfer places i am open.
btc price may change everyday but local price is same nearly 1 month., so my price is nearly rigit.
if btc rises more local price stays same so my price is same.follow this message price will be updated.
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jonanon
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February 03, 2014, 05:25:27 PM |
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i can buy btc locally 775$ i am open to any arbitrage option if you want to buy btc from me i can sell you 800$ i got more then 150btc
price wont be change for a month i think.
more then 1 btc trade is rational.i can sell via wire transfer.
if you think about paypal it adds %6 which makes 848$ and its not a good price i already sell with that price on localbitcoins if i found someone.
if you think to buy btc from me send p.m.
i interest to sell 5-10 btc at a time but you can start with 1 btc.
wire transfer causes you 30-50$ so at least 3 btc you should buy, it is up to you.
i can sell through localbitcoins and crypto thrift i have feedbacks there.
if you have any offer for other transfer places i am open.
btc price may change everyday but local price is same nearly 1 month., so my price is nearly rigit.
if btc rises more local price stays same so my price is same.follow this message price will be updated.
This is not arbitrage, thought I'd be interested please post proof of address containing 150 BTC |
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