bitstamp arbitrages | Bitcointalksearch.org

Pteppic

member

Activity: 110

Merit: 10

Quote from: keatonatron on April 10, 2013, 07:30:53 AM

Quote from: Pteppic on April 10, 2013, 04:36:40 AM

My bot is out of fiat ammo on bitstamp Sad

.

Same here. I don't want to have too much fiat or else I'll be losing out on the rising BTC price (Making $20 off arb isn't so great when you could have just kept that cash as btc and cashed out when they are each worth $20 more). Mt. Gox and Bitstamp need to swing back and forth to create an optimal system, but Gox has been constantly charging ahead lately...

Yeah, I used to tell my bot to have half in fiat and half in BTC but as the price kept going up (this is from about $6 to $12 last year) I just saw the number of BTC I held going down. That was getting depressing so I changed to having a target BTC holding instead. I'm glad I made that change.

keatonatron

sr. member

Activity: 308

Merit: 250

Jack of oh so many trades.

Quote from: Pteppic on April 10, 2013, 04:36:40 AM

My bot is out of fiat ammo on bitstamp Sad

.

Same here. I don't want to have too much fiat or else I'll be losing out on the rising BTC price (Making $20 off arb isn't so great when you could have just kept that cash as btc and cashed out when they are each worth $20 more). Mt. Gox and Bitstamp need to swing back and forth to create an optimal system, but Gox has been constantly charging ahead lately...

essem

newbie

Activity: 42

Merit: 0

Let's hope aurum pull their fingers out and get this sorted asap. I tried some earlier, luckily they only $200 of bitstamp available

mmortal03

legendary

Activity: 1762

Merit: 1011

According to the following thread, you won't be able to do this anymore later today, or am I reading this wrong?
https://bitcointalk.org/index.php?topic=151081.0;all

dg2010

sr. member

Activity: 462

Merit: 250

Quote from: Pteppic on April 10, 2013, 04:36:40 AM

My bot is out of fiat ammo on bitstamp Sad

. It is all well and good saying you just need enough of a buffer, but if there is a big enough change in the balance between buyers and sellers, then everyone's buffer can be exhausted.

In which case, you are shit out of luck.

The lag, fees and risk involved in converting to FIAT simply make a single arb makes it a waste of time IMO, as others have found out.

When your buffer is out fill up or wait until the tide runs the other way. Don't chase the arb by cashing out and hoping to cash back in. With the volatility you can lose out more than the value of the arb.

endlessdark

member

Activity: 68

Merit: 10

245 and my money still frozen between mtgox and bitstamp.
Don't try to do this process today.

endlessdark

member

Activity: 68

Merit: 10

This thread has made many people try that, and bitstamp has a huge delay accepting USD from MtGox -> All of them are losing money (including me, i'm stupid)

Pteppic

member

Activity: 110

Merit: 10

Quote from: dg2010 on April 10, 2013, 03:53:31 AM

Moving FIAT around makes no sense when it comes to arbing. Just keep a balance in two exchanges and trade from that. If you see a price difference just execute a sell at one and a buy at another. It won't always be in the same direction so if you have enough of a buffer you won't need to bother balancing the accounts.

My bot is out of fiat ammo on bitstamp Sad

. It is all well and good saying you just need enough of a buffer, but if there is a big enough change in the balance between buyers and sellers, then everyone's buffer can be exhausted.

Digikeys

member

Activity: 115

Merit: 10

Quote from: kakobrekla on April 09, 2013, 08:10:46 PM

Actually to add; I was running arb bot for a while (when we were in 5$ period) but I shut it off because of not much movements happed back then and also because Bitstamp has a bug and has been silently stealing via fees for over a year now and it was killing my arb profit. I talked about it with Nejc (one of two guys who run this exchange) - it was said its gonna get fixed but why fix money making bug eh? Yeah still there, but even less apparent with the Bitcoin price rise.

Quote

idioterna: bitstamp guy;

Feel like sharing anymore details about the bug?

San1ty

sr. member

Activity: 462

Merit: 250

It's a bit worrying to me that MTGOX has such a high % of the market. I would prefer at least 4 players with each 25%. People should keep this in mind... The MTGOX singularity is something we do not want...

dg2010

sr. member

Activity: 462

Merit: 250

Moving FIAT around makes no sense when it comes to arbing. Just keep a balance in two exchanges and trade from that. If you see a price difference just execute a sell at one and a buy at another. It won't always be in the same direction so if you have enough of a buffer you won't need to bother balancing the accounts.

desper

newbie

Activity: 51

Merit: 0

The way arbitrage can work is if you want to change one currency into another. Just choose the pair of exchanges so that you buy coins cheaply and sell them for the other currency expensively. You can get a better exchange rate, or leave your profit as some bitcoins.

endlessdark

member

Activity: 68

Merit: 10

How much time does this whole operation cost? Is there any delay?

keatonatron

sr. member

Activity: 308

Merit: 250

Jack of oh so many trades.

If it were really that good of a deal, the exchanges would be balanced out already. There are more than enough people on arbitrage watch to jump on any opportunity, but it's not really there. The Gox > Bitstamp option has been missing from bitinstant for a few weeks now (or at least every time I go there...)

The gap between prices needs to be a certain % of the total price to make it worth your while with the fees. Now that prices are going up, the gap is going up as well. A $10 gap sounds appealing (and used to be) but it really isn't that great since the total price will be so high.

I have done a few arbitrage movements over the past few weeks, but I usually only make around $2 per transaction Undecided

I think my total profit so far is around 12 dollars. Grin

Not really worth it for a month's work...

crazy_rabbit

legendary

Activity: 1204

Merit: 1002

RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: enquirer on April 10, 2013, 01:18:37 AM

Quote from: lucif on April 09, 2013, 01:31:09 PM

1. Go here or here https://www.bitinstant.com/ https://www.aurumxchange.com/
2. Choose Mtgox -> Bitstamp
3. Enter usd amount
4. Enter destination account
5. Proceed, make needed mtgox code
6. Enter it to bitinstant/auruxchange
7. Get your USD into bitstamp
8. Buy cheap coins
6. Send them directly to your mtgox deposit address
10. Sell at gox

This process called arbitrage. Oftenly processed by bots.

11. Pay MtGox commission
12. Pay Bitstamp commission
13. Pay bitinstant/auruxchange commission
14. Wait several days for USD to transfer
15. That 0.01BTC sitting at 227 ask looks good, but prepare to pay 3% more to buy any sizable amount

Yep. This is also why major exchanges don't want to add Alt-cryptocurrencies like litecoin. You would see money shifting ceaselessly.

enquirer

sr. member

Activity: 306

Merit: 257

Quote from: lucif on April 09, 2013, 01:31:09 PM

1. Go here or here https://www.bitinstant.com/ https://www.aurumxchange.com/
2. Choose Mtgox -> Bitstamp
3. Enter usd amount
4. Enter destination account
5. Proceed, make needed mtgox code
6. Enter it to bitinstant/auruxchange
7. Get your USD into bitstamp
8. Buy cheap coins
6. Send them directly to your mtgox deposit address
10. Sell at gox

This process called arbitrage. Oftenly processed by bots.

11. Pay MtGox commission
12. Pay Bitstamp commission
13. Pay bitinstant/auruxchange commission
14. Wait several days for USD to transfer
15. That 0.01BTC sitting at 227 ask looks good, but prepare to pay 3% more to buy any sizable amount

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Actually to add; I was running arb bot for a while (when we were in 5$ period) but I shut it off because of not much movements happed back then and also because Bitstamp has a bug and has been silently stealing via fees for over a year now and it was killing my arb profit. I talked about it with Nejc (one of two guys who run this exchange) - it was said its gonna get fixed but why fix money making bug eh? Yeah still there, but even less apparent with the Bitcoin price rise.

Quote

idioterna: bitstamp guy;

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: aqrulesms on April 09, 2013, 08:02:32 PM

Arbitrage works great if there is a sizable gap and the price is low. Unfortunately, the prices are rather HIGH right now and RISING which makes it hard to trade the volume needed to make a decent profit.

Undecided

The huge backlog and lack of reserves that bitinstant has makes it hard to get your money fast enough to have the opportunity for an arbitrage.

The time factor is really the killer. I arbed a bit between Gox / btc-e using OKPay as a middleman, but by the time my USD got from Gox to OKPay, price at btc-e had gone too high to make a decent profit.

aqrulesms

sr. member

Activity: 373

Merit: 250

Arbitrage works great if there is a sizable gap and the price is low. Unfortunately, the prices are rather HIGH right now and RISING which makes it hard to trade the volume needed to make a decent profit.

Undecided

The huge backlog and lack of reserves that bitinstant has makes it hard to get your money fast enough to have the opportunity for an arbitrage.

Topic: bitstamp arbitrages (Read 3037 times)