Topic: Alternating exchanges question (Read 545 times)
It's quite difficult and/or expensive to get fiat into most exchanges. Moving the Bitcoins is the easy part
That's call arbitrage. It's hard to make a profit that way because transferring money between exchanges is expensive and time-consuming, and other people will usually already be doing it better than you.
Sorry if this has already been asked, I couldn't figure out a good way to search for it. So I noticed alot of exchanges are trading at less that mt.gox. What if I were to buy alot of bitcoins at a lesser known exchange for much cheaper, then instantly sell them at mt.gox. This seems way to easy to be possible. What would dissuade someone to do such a thing? (I am not planning on doing it personally, sounds like it would cripple the giving all bitcoins to the near monopoly of mt. gox.
Thanks FOr you help, first time poster, long time lurker.
Thanks FOr you help, first time poster, long time lurker.
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