btc-e vs market

[Atdhe]

Any idea why the span between btc-e and ROW is today much wider? Are there some problems?

[forevernoob]

Just guessing here, but maybe the politcal climate of Russia is one reason.

[Atdhe]

thx for answer

their bank is in Czech republic, not in Russia I guess; if you were true it must have been overreaction

[Atdhe]

btw it is there again, 10usd span, 364 vs 374

[forevernoob]

I have heard rumours about the site being run by the Russian mob. Is their any truth to that?

[Atdhe]

Yes they are. There had to be some funny interview, where they said I am Alex and second I am Alex.

But since their biz is virtual and processing bank outside of Russia... I do not see why should turmoils of Russian economy have impact on exchange rate.

I simply think there are much more sellers there and their KYC procedures are not as harsh as elsewhere or something like that. This is why they have lower exchange rate always. But why the shifted rate fluctuates from less than 1% to 3% in comparsion to market? Well, the one who knows the answer, will probably not tell, but making money on it.

[1Referee]

BTC-E is a follow exchange, traders there are waiting for something to happen in Bitstamp or the Chinese exchanges.

Different exchanges mean different traders. The gap between BTC-E and the rest was larger but at this moment it's only a few bucks.

Large traders who transfer thousands of Bitcoins from BTC-E to Bitstamp can make good profits.

It's not worth it if you're a small trader with only a few Bitcoins. For whales it's more than interesting.

[Atdhe]

Well If someone is buying massively, someone must sell massively. And the seller has some very good reson why to sell his BTC way under price at btc-e. And that reason is anywhere between 3-10 usd/btc. I do not think that some big miner or btc owner does not know about Bitstamp. That is impossible. So it is a deliberate decision to sell BTC way underprice at Russian anonymous exchange.

Only reason that comes to my mind is anonymity. I do not have btc-e acct, but I guess guys do not care to whom they send millions of USD.

[forevernoob]

Funny even though it's a "shady" exchange you need to supply them with ID and other KYC bullshit.
But maybe you are right the "gangsters" probably knows the owner and can skip all the KYC stuff.

[Atdhe]

Yes that is what I thought.

Anyways I forgot to mention they have 1% fee without cap on bank deposits, so it is justified to be up to 1% under market, because it had to be paid off. The 1% span is normally there, so no big deal. But those occasional 3% gaps really wonder me.

[Atdhe]

Just figured it out. Together with the 1% min fee of any deposit
&
Daily limit withdrawal BTC100 !!!

There are no highrollers, because highrollers would be forced to use even more costly fiat payouts.

[BitCoinNutJob]

btw it is there again, 10usd span, 364 vs 374

Thats pretty standard gap between BTC-e and stamp + finex nothing much unusual, USD is worth more at BTC-e it seems

[Atdhe]

During last days btc-e is same as Stamp or Finex or has even better rate for USD!

I wonder if it is because there is crisis in Russia and ppl pump money to btc.

[justmyname]

Whatever the last price the crypto was traded at determines the price of each crypto currency.

[Atdhe]

Do you understand the topic of this thread? That btc-e hasusually much cheaper btc than elsewhere, but during last days it completely turned over. I have no idea what you are talking about.

[Rumble]

i heard lots of users lately been having problems with btc-e w. security, so not sure on the value would be if people keep getting their btc supposedly failed 2fa security etc.