OK. Seems to be a bit of Gox tunnel vision here. Try again.
I'm living in China. I have my tech analysis priced in BTC-e but I want to sell on BTCChina. How do I best convert the price across from USD to CNY?
Topic: Converting rates between exchanges for speculative trades (Read 531 times)
Lesson#3: See Lesson#1
Lesson #2: always retrieve BTC in the bitcoin-QT (or assimiled safe software) after buy or sell.
Lesson #1: stay away from Gox.
The only problem is that my price analyst has done it in Mt.gox price. Hence the question
MtGox trades 'mtgox dollars' for 'mtgox bitcoins'. Those are not the same as real dollars and real bitcoins.
It used to be that dollars were really hard to get out of MtGox, so those dollars were worth less and this caused the bitcoin exchange rate on mtgox to seem higher than on other exchanges.
Now that GoxBitcoins are even harder to withdraw than GoxDollars, the rate has gone from a surplus to a deficit.
Just stay away from Gox, only solution.
It used to be that dollars were really hard to get out of MtGox, so those dollars were worth less and this caused the bitcoin exchange rate on mtgox to seem higher than on other exchanges.
Now that GoxBitcoins are even harder to withdraw than GoxDollars, the rate has gone from a surplus to a deficit.
Just stay away from Gox, only solution.
This isn't an arbitrage question but maybe it's one to file under that?
So, I have my levels that I know I want to buy at. How do I figure out what each level is equivalent to at the difference exchanges?
For example, let's say someone gives me a tip to buy at $450 at Mt.Gox... what level would that be at Bitstamp or BTCChina? I mean, the Mt.Gox rate doesn't really have much sense now but even so maybe that difference has been tracked by someone as a percentage?
I had a look at BTC-e and noticed a massive spike down to $290 too. Wasn't sure what to make of that either.
In general there's going to be price difference between exchanges but those price differences should be fairly stable over time so it should be possible to at least get analysis for example on Mt.Gox and convert that to other exchanges to within $50, right?
So, I have my levels that I know I want to buy at. How do I figure out what each level is equivalent to at the difference exchanges?
For example, let's say someone gives me a tip to buy at $450 at Mt.Gox... what level would that be at Bitstamp or BTCChina? I mean, the Mt.Gox rate doesn't really have much sense now but even so maybe that difference has been tracked by someone as a percentage?
I had a look at BTC-e and noticed a massive spike down to $290 too. Wasn't sure what to make of that either.
In general there's going to be price difference between exchanges but those price differences should be fairly stable over time so it should be possible to at least get analysis for example on Mt.Gox and convert that to other exchanges to within $50, right?
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