The logistics are the problem. Its moving that real world money about, even with SEPA its 3-4 days.
There was around a £100 price difference between Bitstamp and Bitbargain (which isn't an exchange but rather a bitcoin market place) but eveyones realised that now and its drove the price down with too many sellers.
Lets say you invest in 1btc and you say got it for 600usd on btstamp (making up the prices) sent your 1btc to MtGox and got 670$ for it, minus the trading fee. Then assuming you live in the Sepa zone you wire that money to your account. Thats another exchange fee + the fee your bank usually charges to accept that transfer. Then ANOTHER fee to send the money back to the exchange, that and the fact its taken nearly 7 days to get the money from one exchange to another. In that time you would have probably made more money hanging on to the btc.
And thats with SEPA international can take even longer.
Topic: anyone successfully arbitrage trade bitcoins - page 3. (Read 3583 times)
The problem is that since Dwolla dropped Bitcoin, there is no quick way to move fiat. If you have dollars on CampBX, you can indeed buy BTC and sell them for a profit on another exchange. You then have to collect those dollars, and then snail mail a money order to CampBX to repeat the process.
Even when (if) CampBX gets ACH transfers working, the dollar side of arbitrage will take about a week. With the current volatility that is an extreme risk if your goal is to accumulate Bitcoins. If you're ok with dollars you can lock in a profit.
Even when (if) CampBX gets ACH transfers working, the dollar side of arbitrage will take about a week. With the current volatility that is an extreme risk if your goal is to accumulate Bitcoins. If you're ok with dollars you can lock in a profit.
yeah moving the money quickly seems to be the biggest obstacle , my idea was to buy on btc-e and sell on mt,gox
rinse and repeat
That demonstrates very clearly some of the benefits of bitcoin over dollars.
The problem is that since Dwolla dropped Bitcoin, there is no quick way to move fiat. If you have dollars on CampBX, you can indeed buy BTC and sell them for a profit on another exchange. You then have to collect those dollars, and then snail mail a money order to CampBX to repeat the process.
Even when (if) CampBX gets ACH transfers working, the dollar side of arbitrage will take about a week. With the current volatility that is an extreme risk if your goal is to accumulate Bitcoins. If you're ok with dollars you can lock in a profit.
Even when (if) CampBX gets ACH transfers working, the dollar side of arbitrage will take about a week. With the current volatility that is an extreme risk if your goal is to accumulate Bitcoins. If you're ok with dollars you can lock in a profit.
there has been a significant price difference between markets lately even up to a hundred dollars difference
anyone take advantage of this and do this on the reg ?
anyone take advantage of this and do this on the reg ?
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