Canadian Bankers are Idiots

[The Bitcoin Co-op]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

[jonald_fyookball]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

Arbitrage exists in nearly every market.

[knight22]

Asking a banker to understand bitcoin is like asking a born blind person to understand colors. 

[jaberwock]

Correction: Bankers are idiots.
And people who offer finantial advice have their dumbness proportional to how many degrees they have. They spend too much time studyind that don't have time to do or think usefull things.

[Bogleg]

Need to give them a medal of courage for publishing such garbage.

[minerpumpkin]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

Currently trying to figure out whether they don't really know about Bitcoin/Altcoins or whether they actually do mean other arbitrage opportunities. Also, Bitcoin is still to small of course - but only as of now!

[brian_23452]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

Currently trying to figure out whether they don't really know about Bitcoin/Altcoins or whether they actually do mean other arbitrage opportunities. Also, Bitcoin is still to small of course - but only as of now!

Had you actually read the paper, you would know the answer to that.  It's usually a good idea to actually read what someone writes and understand it before blindly calling them all idiots.  Just sayin.

[iluvpie60]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

They messed up in their study. The problem they ran into was being theoretical and looking at price charts. THey don't understand that within a few hours the price can have a 10% dip then a 20% rise. I saw it all the time months ago with altcoins. These people don't know what they are talking about, many altcoins made people money within the first few days of it coming out.

[frankh13]

Our national bank just concluded that arbitrage opportunities do not exist in cryptocurrency: http://www.coindesk.com/bank-canada-research-cryptocurrency-arbitrage-doesnt-exist/

Given the sheer number of people in our Co-op (and probably on this forum) who make money doing arbitrage with crypto, I find it surprising. These people are supposed to have PhDs

It's horrible, how it will be affect on btc rate?

[spazzdla]

They only looked at BTC and LTC and only major exchanges... My country is a special kind of stupid.