SgtSpike (OP)
Legendary
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Activity: 1400
Merit: 1005
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April 30, 2011, 11:14:29 PM |
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Looking at the charts here ( http://bitcoincharts.com/markets/bcmPPUSD.html), I've noticed that while MtGox is up around $3.57/BTC, bitcoinmarket is only at $2.30/BTC (last trade). Why is this? Couldn't someone just snatch up all of the cheap BTC off of bitcoinmarket and resell it on MtGox? |
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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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tomcollins
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April 30, 2011, 11:23:07 PM |
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Looking at the charts here ( http://bitcoincharts.com/markets/bcmPPUSD.html), I've noticed that while MtGox is up around $3.57/BTC, bitcoinmarket is only at $2.30/BTC (last trade). Why is this? Couldn't someone just snatch up all of the cheap BTC off of bitcoinmarket and resell it on MtGox? Yes, they could. How many are actually available to buy at Bitcoinmarket? |
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fabianhjr
Sr. Member
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Activity: 322
Merit: 250
Do The Evolution
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May 01, 2011, 12:46:32 AM |
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The problem is that it is the last trade, look at the bids and asks, now if you can make a profit. Go ahead!
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SgtSpike (OP)
Legendary
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Activity: 1400
Merit: 1005
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May 01, 2011, 01:28:16 AM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
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benjamindees
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Activity: 1330
Merit: 1000
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May 01, 2011, 02:24:53 AM |
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I can tell you the reason I haven't even considered trading on Bitcoinmarket is that it has a horrible UI that is written in Javascript or something. I'm not sure I could tell you what the exchange rate even is or how to join.
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Civil Liberty Through Complex Mathematics
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tomcollins
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May 01, 2011, 02:30:02 AM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit. Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy. |
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fabianhjr
Sr. Member
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Activity: 322
Merit: 250
Do The Evolution
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May 01, 2011, 03:04:53 AM |
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What he tries to do involves automated trade. So he can arbitrage so meta between exchanges.  |
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SgtSpike (OP)
Legendary
Offline
Activity: 1400
Merit: 1005
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May 01, 2011, 08:24:33 AM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit. Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy. I'll take $4.  |
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tomcollins
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May 01, 2011, 01:13:51 PM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit. Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy. I'll take $4. If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you. |
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SgtSpike (OP)
Legendary
Offline
Activity: 1400
Merit: 1005
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May 01, 2011, 02:29:02 PM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit. Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy. I'll take $4. If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you. How could it possibly take 4 hours of work to make two trades and a bitcoin transfer? |
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tomcollins
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May 01, 2011, 02:34:35 PM |
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I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!
And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit. Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy. I'll take $4. If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you. How could it possibly take 4 hours of work to make two trades and a bitcoin transfer? It doesn't. But it takes time to set up accounts everywhere. It takes time to transfer money. It takes time to *identify* the opportunities. That's the key there. If it was so easy to make a profit, wouldn't someone already be doing it? My guess is people already are. |
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