Thank you Sonny. Just watching the MTGox fiasco today, so glad I wrote that off.
You are welcome.
Topic: BTC Exchange Rate Variance - Why So Serious Batman? (Read 883 times)
You are welcome.
Thank you Sonny. Just watching the MTGox fiasco today, so glad I wrote that off.
Forget about the mtgox price, it is irrelevant.
People have been waiting for months to get their USD withdrawals.
Some of them just don't want to wait anymore. They cancel their withdrawals, buy bitcoins with all their USD balance, cashout their bitcoin, and forget about mtgox forever.
People have been waiting for months to get their USD withdrawals.
Some of them just don't want to wait anymore. They cancel their withdrawals, buy bitcoins with all their USD balance, cashout their bitcoin, and forget about mtgox forever.
I'm confused, and hope someone can help me understand this better.
When I visit different exchange sites to check the value of BTC, I note that the higher paying sites are almost always $100 or more above the lower paying sites. Why is that?
For example, as I write this:
$922 Currently: https://www.mtgox.com/
$818 Currently: https://cashintocoins.com/ (this is the site Blockchain recommends if you're getting USD, by the way)
$809 Currently: https://bitpay.com/bitcoin-exchange-rates
So, with fees and everything else out there accounted for, how is it that anyone is dealing through exchanges charging $100+ to process transactions?
Also, for anyone else reading this and thinking, "Wow, I could just buy from one, and sell to another, and get rich all day!" - according to more experienced forum gurus here, that doesn't work because of fees and related charges. You can search the forums for more in depth explanations of it - but that's not my question. To reiterate...
How is it that one exchange is charging $100 more than another, yet they're all trading the same thing? How is that sustainable? Why is this happening?
The only other place I ever saw such a thing with fiat currency was in Afghanistan, where the local currency was floated by the USD, so no one wanted EUR. Anyone paid in EUR sold them at a loss to get USD. Those of us in the know bought up all the EUR we could get, and then exchanged it outside of the country (which was then promptly spent).
Thanks,
HJ
When I visit different exchange sites to check the value of BTC, I note that the higher paying sites are almost always $100 or more above the lower paying sites. Why is that?
For example, as I write this:
$922 Currently: https://www.mtgox.com/
$818 Currently: https://cashintocoins.com/ (this is the site Blockchain recommends if you're getting USD, by the way)
$809 Currently: https://bitpay.com/bitcoin-exchange-rates
So, with fees and everything else out there accounted for, how is it that anyone is dealing through exchanges charging $100+ to process transactions?
Also, for anyone else reading this and thinking, "Wow, I could just buy from one, and sell to another, and get rich all day!" - according to more experienced forum gurus here, that doesn't work because of fees and related charges. You can search the forums for more in depth explanations of it - but that's not my question. To reiterate...
How is it that one exchange is charging $100 more than another, yet they're all trading the same thing? How is that sustainable? Why is this happening?
The only other place I ever saw such a thing with fiat currency was in Afghanistan, where the local currency was floated by the USD, so no one wanted EUR. Anyone paid in EUR sold them at a loss to get USD. Those of us in the know bought up all the EUR we could get, and then exchanged it outside of the country (which was then promptly spent).
Thanks,
HJ
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