This international customer or client, vip indonesian exchanger is reduce is good
because only support pair use IDR not USD, so only can trading can't withdraw to account bank
only trading to international customer, volume transaction vip is low is compare bitfinex huobi okcoin btce bitstamp and more
maybe if international client can interest join in there, verified account must easy, and support pair USD, and can easy withdraw account USD
maybe transfer wire, fasapay account or another online procesor
Topic: Indonesian Largest Bitcoin Exchange Reach 788 USD while Other in 770 USD area (Read 1612 times)
December 13, 2016, 12:34:58 PM
December 11, 2016, 04:59:08 AM
Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
just visit to this link https://vip.bitcoin.co.id/ and then post your opinion at here and not only guessing because just like i said before that this is big exchange in indonesia and for each days volume support for bitcoin approximately 100 btc-500 btc even some times ago volume support in this exchange could reach more than 1000 btc indeed that's not really huge if we compare with bitfinex or huobi but i think those volume is pretty highIf only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
it doesn't allow seeing the exchange page like the orderbooks, charts, etc without an account first (it needs registration) and for that it requires phone number something that most people are not willing to give.
also based on their help page, they do not offer USD deposits, so what is the point of this thread i have no idea!
December 11, 2016, 04:25:43 AM
Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
just visit to this link https://vip.bitcoin.co.id/ and then post your opinion at here and not only guessing because just like i said before that this is big exchange in indonesia and for each days volume support for bitcoin approximately 100 btc-500 btc even some times ago volume support in this exchange could reach more than 1000 btc indeed that's not really huge if we compare with bitfinex or huobi but i think those volume is pretty high If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
December 10, 2016, 10:51:34 AM
Price may be slightly higher, but how much volume?
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
If only one or two Bitcoin sell at this price, its not going to make any difference.
It's going to take more than a few BTC to change the price on other exchanges.
December 10, 2016, 10:47:35 AM
Now the price is reach above 800usd,
Its suspicious to me,
Because market alwats buy buy buy and small people who try to sell,
In country also no news about bitcoin in every biggest news media unlike india,
Maybe there are people who have unlimitwd money here, but i feel its suspicious, want to stay away for awhile
Maybe i want to witdraww allll money , but since now is weekend till tuesday, i need to wait,
Thanks every one
Its suspicious to me,
Because market alwats buy buy buy and small people who try to sell,
In country also no news about bitcoin in every biggest news media unlike india,
Maybe there are people who have unlimitwd money here, but i feel its suspicious, want to stay away for awhile
Maybe i want to witdraww allll money , but since now is weekend till tuesday, i need to wait,
Thanks every one
December 10, 2016, 07:03:56 AM
that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only
Well bitcoin is selling for $768 right now on the North American market. So i think it is correcting it's self alot lately with it going up to $770 then back down for the past couple of days. December 10, 2016, 03:43:26 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
first of all i have never heard about that exchange before in my life and even if i knew about it i would never trust them with my money by just randomly sending it there to take a small arbitrage profit.
also this is not a new thing, many Asian exchanges mostly in China have $800 for price from time to time.
December 10, 2016, 01:13:31 AM
This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,
As long as I ever seen since the first time I keep on eye on the price, Indonesian exchanges always have higher exchange rate than international currency such as USD or Euro.
December 09, 2016, 11:16:48 PM
thank you to everyone for sharing,
i cant reply you one by one, because idont have too much time in internet world
maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,
This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,
i cant reply you one by one, because idont have too much time in internet world
maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,
This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,
it is only supply and demand that dictates the price of bitcoin and everything else. when there is a higher demand prices go up like this and Indonesia is experiencing this higher demand right now.
the reason why it is not the same as other exchanges is (as always with similar cases) the difficulty and in some cases impossibility of transferring money to and from that place.
December 09, 2016, 11:06:28 PM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
Do not worry about it. Of course there will be traders who will do some arbitrage trading and make the markets efficient again. So your suggestion is nothing really new. There are already people who are making money out of the inefficiency in the price.
December 09, 2016, 10:02:50 PM
Short answer - Bitcoin is freely transferable across the world, but fiat currencies aren't.
If there were no capital controls, fiat would be freely transferable and traders would instantaneously take advantage of arbitrage opportunities (like this one) and the price at all exchanges would converge.
If there were no capital controls, fiat would be freely transferable and traders would instantaneously take advantage of arbitrage opportunities (like this one) and the price at all exchanges would converge.
December 09, 2016, 03:57:18 PM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
This is something that will continue that will push the price to that point because one of the things that gives relevance and what other lack is the speculation which is what we are saying. In no time the effect will multiply to other sites and it goes on and on... But the condition to trade is what will limit quite a number of people here.
December 09, 2016, 03:47:54 PM
thank you to everyone for sharing,
i cant reply you one by one, because idont have too much time in internet world
maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,
This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,
i cant reply you one by one, because idont have too much time in internet world
maybe the hype of demand in indonesia is high,
but this is different from india that has problem related of their condition, indonesian economic is good,
unless political condition in capital region (governor election that bring 2 religions clash, moslem and Christian too many ethnicity, religion, race, and inter-group relations attack) and imo this willnot had huge effect to btc price,
This usually never happens, although there never exceeded one days price of btc in indonesia higher than any international market,
December 09, 2016, 12:03:01 PM
that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only
Well bitcoin is selling for $768 right now on the North American market. So i think it is correcting it's self alot lately with it going up to $770 then back down for the past couple of days. 
December 09, 2016, 11:56:21 AM
This might be due to the financial situation within the country. Recently the same thing happened with India due to the demonetization on which traders made the price to be above $900 for a week or too. Same might be with the Indonesian traders.
December 09, 2016, 11:56:09 AM
that happened with other chinese exchange as well, one must hope that this is not related to fake volume like with chinese, but legit overpump in comparison with other exchange, but 788 is not so greater than 770, make me think about a little correction only
December 09, 2016, 11:53:36 AM
That is a huge discretion that should not be tolerated by any exchange.
I think this is happening due to the anomalies in the Indian currency market that is causing huge price increases in the bitcoin value there but not in any other exchanges around the world.
I think this is happening due to the anomalies in the Indian currency market that is causing huge price increases in the bitcoin value there but not in any other exchanges around the world.
December 09, 2016, 11:28:16 AM
why are we even excited about $18 difference 
i remember a couple of days ago when price was still around 720ish dollar bitcoin price in India was above $800 which makes it a big $80 difference. and there are some good exchanges like Zebpay there! or even localbitcoins.
i remember a couple of days ago when price was still around 720ish dollar bitcoin price in India was above $800 which makes it a big $80 difference. and there are some good exchanges like Zebpay there! or even localbitcoins.
December 09, 2016, 11:23:41 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
This thing really happens since exchanges on a particular country does really differ in rates per 1 bitcoin,as other members said here its really good to make some buy and sell which you could eventually make profits with it but local exchanges does really require some documentations and verifications before you could able to do on the things. is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
December 09, 2016, 11:07:47 AM
This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
Actually you don't need to verify your ID to withdraw. I have an account there.
You need to verify your identity to increase your withdrawal limit as per this post.
Yea, just transfer some bitcoins in and sell it... do not withdraw to fiat. Then take the risk and wait for the price to drop to buy back
the original bitcoins and some more with the profit.
... As a rule, I do not keep any bitcoins in exchanges, so this might be a bad idea. If you had family of friends there, they could create an account and verify it and you could use it to buy & sell. The conversion to fiat and the
remittance fees... will eat a fair share of your profits.
December 09, 2016, 08:48:03 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
This is because suddenly their are lot of buyers in Indonesia due to that the buying price gets increased, same thing happened to localbitcoins.com site which supports indian market it touched $1000 + in inr above 70k inr. It was due to demonetization in India so the price went high but today you can see the price is back to normal and in yobit exchange it is trading in $800 range
December 09, 2016, 08:32:07 AM
There are few things that can easily boost price in local exchanger like;
1. Sudden increase in demand which may have been tiggered by something like in India few weeks ago price per bitcoin get pumped really hard and reached almost $900 per bitcoin because government of india banned high value notes. And you can see price per bitcoin is still higher in indian exchanger even more than $800 right now.
2. Limited supply, Most of the developing countries have really tight foreign currency rules/regulation so that you can't just deposit fiat to any exchanger outside your country. So there will be no choice other than buying bitcoin at local exchanger from few sellers in the price those sellers are happy to sell their bitcoins.
Nothing to surprise in having higher price in local bitcoin trading platform than other international market.
1. Sudden increase in demand which may have been tiggered by something like in India few weeks ago price per bitcoin get pumped really hard and reached almost $900 per bitcoin because government of india banned high value notes. And you can see price per bitcoin is still higher in indian exchanger even more than $800 right now.
2. Limited supply, Most of the developing countries have really tight foreign currency rules/regulation so that you can't just deposit fiat to any exchanger outside your country. So there will be no choice other than buying bitcoin at local exchanger from few sellers in the price those sellers are happy to sell their bitcoins.
Nothing to surprise in having higher price in local bitcoin trading platform than other international market.
yeah. I think it is true. there are a lot of people want to own bitcoin in Indonesia because the price is going up this month and last month, that's why the demands increase. and the most famous site to buy and sell bitcoin in Indonesia is vip.bitcoin.co.id. so some people buy and sell bitcoin there. cmiiw.
December 09, 2016, 08:16:24 AM
It's not that much of a difference. It happens all the time. For example in Bitcoinwisdom you can see several different exchanges in real life and there's always a difference from bitstamp to btc-e and to chinese exchanges.
The big difference in price that we have seen is in india where bitcoin has been 900+ recently
The big difference in price that we have seen is in india where bitcoin has been 900+ recently
December 09, 2016, 07:01:56 AM
I think is simply because a lot of people want to buy bitcoins and the exchange doesn't have much bitcoins to sell in return. So in this case, the rarity will boost the price up and the people will buy much in order to acquire them.
In any free market, the same thing happens in the real world.
In any free market, the same thing happens in the real world.
This can be explained in simple terms, it is called hype. When there is hype of buyers the seller of course is adjusting the price of their items which in return adds more hype to the buyers and more profit to the sellers.
There is nothing to be puzzled about the different prices, in fact in different exchangers the price of bitcoin are not the same but different. Maybe the only thing that makes the author buggled about it is the wide range in prices which is normally happening.
December 09, 2016, 06:44:06 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
first of all i have never heard about that exchange before in my life and even if i knew about it i would never trust them with my money by just randomly sending it there to take a small arbitrage profit.
also this is not a new thing, many Asian exchanges mostly in China have $800 for price from time to time.
December 09, 2016, 06:24:30 AM
Op if you are aware or not in India it was trading about 900+ and this happened because of the currency becoming useless. And suddenly the only option was to put money in Bitcoin to save what ever they could. It happens a lot of times due to the uncertainty and sudden Demand but good to see its happening globally now.
December 09, 2016, 06:22:22 AM
I think is simply because a lot of people want to buy bitcoins and the exchange doesn't have much bitcoins to sell in return. So in this case, the rarity will boost the price up and the people will buy much in order to acquire them.
In any free market, the same thing happens in the real world.
In any free market, the same thing happens in the real world.
December 09, 2016, 04:22:30 AM
There are few things that can easily boost price in local exchanger like;
1. Sudden increase in demand which may have been tiggered by something like in India few weeks ago price per bitcoin get pumped really hard and reached almost $900 per bitcoin because government of india banned high value notes. And you can see price per bitcoin is still higher in indian exchanger even more than $800 right now.
2. Limited supply, Most of the developing countries have really tight foreign currency rules/regulation so that you can't just deposit fiat to any exchanger outside your country. So there will be no choice other than buying bitcoin at local exchanger from few sellers in the price those sellers are happy to sell their bitcoins.
Nothing to surprise in having higher price in local bitcoin trading platform than other international market.
1. Sudden increase in demand which may have been tiggered by something like in India few weeks ago price per bitcoin get pumped really hard and reached almost $900 per bitcoin because government of india banned high value notes. And you can see price per bitcoin is still higher in indian exchanger even more than $800 right now.
2. Limited supply, Most of the developing countries have really tight foreign currency rules/regulation so that you can't just deposit fiat to any exchanger outside your country. So there will be no choice other than buying bitcoin at local exchanger from few sellers in the price those sellers are happy to sell their bitcoins.
Nothing to surprise in having higher price in local bitcoin trading platform than other international market.
December 09, 2016, 03:16:40 AM
That's actually not that bad compared to the situation with Indian exchanges a while back.
Will go back to normal soon though, things like these are just temporary due to higher demand.
Will go back to normal soon though, things like these are just temporary due to higher demand.
December 09, 2016, 03:15:56 AM
It all depends on the country's restrictions and all that. If a market isn't free then it is likely to reflect a false price, as suggested by somebody above me who stated the example of the Indian 500 and 1000 banknote ban and the surge in Indian btc prices.
Regulations is what makes arbitrage difficult.
Regulations is what makes arbitrage difficult.
December 09, 2016, 02:54:00 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
This happens on all exchanges, all the time. It's simple there are different people trading on each exchange all with different ideas of what they are willing to pay or accept for bitcoin. All exchanges are usually within a tight range tho.
December 09, 2016, 02:34:11 AM
This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
Actually you don't need to verify your ID to withdraw. I have an account there.
You need to verify your identity to increase your withdrawal limit as per this post.
December 09, 2016, 02:06:08 AM
It could be that the demand is high in Indonesia but there are fewer local suppliers. The price may settle down after the rush is over.
December 09, 2016, 02:01:08 AM
This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
yeah i know that it hard for foreign users to verified their account,
i know every user there always arbitrage their money to international exchange like huobi bitfinex, or etc,
but it happen when this local exchange had cheaper price than huobi or bitfinex,
my question is
what happen to this localexchange, this price (higher almost 10 USD happen for month) ussualy the price is cheaper tahn international exchange
December 09, 2016, 01:52:57 AM
This happened with Indian exchanges a couple of weeks ago as well and It's not different , you still have to verify your identity by providing an ID or passport + your photo as mentioned in their blog post .
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
I guess this is the case for all local exchanges and not only this one so unless you are from Indonesia , I don't see how this could turn profitable to you.
December 09, 2016, 01:44:21 AM
how can is this Possible Indonesian Largest Bitcoin Exchange VIP.Bitcoin.CO.ID Reach Rp. 10,500,000 or 788.23 USD (rate 1 USD = Rp. 13,321) while Other in 770 USD area?
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
Update:
Now they are reaching 795 usd while other still in 770area,
Im aware, that there are inside trader in this loval exchange
is there inside trader?
if you want quick money. sent your money, and sell all you coin and buy back at after the price at Rp. 10,2xx,xxx area or 770 USD area
bvecause trader over ther is easy to panic
Update:
Now they are reaching 795 usd while other still in 770area,
Im aware, that there are inside trader in this loval exchange
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