BTC-E use to be a sheep of MTGOX, and used as a arbitrage route, basically buy cheap at BTC-E sell on mtgox and put funds back into btc-e again. this made btc-e have a 10% gap to cover the then possible fee's to swap between the exchanges.
although now it cant be done, BTC-E users dont like to channge their ways easily. they still follow gox prices like a shadow follows a naked lunitic with no clue what to do next.
thank god bitstamp and other exchanges have cottoned on that MTGOX only holds 30k of BTC on the sell walls at peak times and as little as 12k when not so busy. making mtgox the LEAST reliable price guide out there.
BTCChina and bitstamp are the better price guides purely because they atleast hold more coins to make a more accurate destinction of value.
so remember this, right now btc-e wants to remain pegged at a 10% lower gap from MTGox but following the ups and downs. btcchina and bitstamp are no longer followers, but leaders in price valuations.
have fun trading
Topic: BTC-E lower price (Read 1188 times)
BTC-E has a bad reputation because it`s located in Bulgaria, it`s very difficult and typically a long process to deposit USD into accounts and sometimes deposits seem to just go missing... just look in the scam section of the message boards. That`s why it`s cheaper.
Can someone explain me why prices on BTC-E are currently significantly lower than on any other exchanger?
Some weeks ago it used to be MTgox the only one with prices above avarage because of the delays on payments, but bitstamp and coinbase catched gox and only the btc-e remained low. What happened?
Some weeks ago it used to be MTgox the only one with prices above avarage because of the delays on payments, but bitstamp and coinbase catched gox and only the btc-e remained low. What happened?
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