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Topic: [2016-7-7]Venezuelan exchange SurBitcoin is trading bitcoin at 22% below market (Read 461 times)

sr. member
Activity: 285
Merit: 250
On the Venezuelan bitcoin exchange SurBitcoin, which is based in Valencia, Carabobo, it is trading bitcoin well below market value; at approximately 22% less than other bitcoin markets around the world. The huge difference in price is causing many to speculate why this is happening.

Read more: http://bitcoinx.io/news/articles/venezuelan-exchange-surbitcoin-is-trading-bitcoin-at-22-below-market-value/

The end of the article mentions people cannot even get their money out and the problems have been on-going for months.
Why is anyone still trying to sell there?
They seem to be stuck. They can't withdraw for months now, so they have to sell in order to get their money out (at a loss!).
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
On the Venezuelan bitcoin exchange SurBitcoin, which is based in Valencia, Carabobo, it is trading bitcoin well below market value; at approximately 22% less than other bitcoin markets around the world. The huge difference in price is causing many to speculate why this is happening.

Read more: http://bitcoinx.io/news/articles/venezuelan-exchange-surbitcoin-is-trading-bitcoin-at-22-below-market-value/

The end of the article mentions people cannot even get their money out and the problems have been on-going for months.
Why is anyone still trying to sell there?
hero member
Activity: 574
Merit: 500
it is a big loss to sell with these values. this exchange is making a huge arbitrage by using the people's need of fast exchange. what a shame !
legendary
Activity: 1834
Merit: 1019
sr. member
Activity: 285
Merit: 250
On the Venezuelan bitcoin exchange SurBitcoin, which is based in Valencia, Carabobo, it is trading bitcoin well below market value; at approximately 22% less than other bitcoin markets around the world. The huge difference in price is causing many to speculate why this is happening.

Read more: http://bitcoinx.io/news/articles/venezuelan-exchange-surbitcoin-is-trading-bitcoin-at-22-below-market-value/
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