Topic: New MtGox trading client for Windows available - BTC-Trader at mybtc-trader.com (Read 2010 times)

Hi. will the new btc-trader app work also on mac osx? Will support euro or kraken exchange?

niceee 

Unfortunately there is no way at the moment for cheap and fast transfers between exchangers. The regulations destroyed all of them:

- MtGox redeemables (for doing Bitinstant transfers)
- VouchX coupon codes for funding the Vircurex Bitcoin exchange
- Liberty Reserve

All gone! Now OKPAY doesn't work for MtGox any more. There had been a time when OKPAY worked as a bridge between MtGox and BTC-e.

There are lots of money services left, but the problem is that the high fees are making arbitrage impossible.

At the moment I am running a trading bot, because I am really tired of watching the charts all day long. Although this bot can create losses it is a great tool for making arbitrage on MtGox, BTC-e and Bitstamp.

Bitcoin.de is also a great site! A friend of mine made lots of money there with his sophisticated trading method. You can get good prices at this site and if you have a good reputation, other users are willing to trade with you. But it takes a few days until your funds arrive at your bank account. So it is always a good idea to have EUR and BTC available at the same time. Just buy cheap bitcoins and sell them more expensive and you will make profit no matter how the Bitcoin price will be.

In order to use Bitcoin.de you should get a bank account at the Fidor Bank (www.fidor.de). You should try to get an account at this innovative bank. Their bank accounts are available for foreigners as well. At least for Europeans.

Great sites for watching the Bitcoin market are bitcoinity.org and bitcoinwisdom.com. You should have a look at them.

Best regards

Ouzo69

I miss that too. The tool I told you by PM does not work between exchangers... It has an API created to trade on 4 platforms (MTGox, BTCe, Bitstamp and BTCChina! ).
We still need an application to do the job as you show it on the youtube video.
Also, a platform like Bitcoin.de should be taken into consideration but bad news is they don't have trades in USD only EUR...

At the moment I am rebuilding the website. And then the BTC-Trader for MtGox will be available again.

You are right. I should do a Bitstamp version of the product, since MtGox has lost many customers. But there is still another project to be finished. I am developing a windows version of Google Authenticator.

Bitistant transfers are no longer working again. Easily speaking arbitrage through a transfer of USD funds between different Bitcoin exchanges is dead at the moment due to the regulations. Bitcoin arbitrage is really not that easy like in the gold old days. I really miss that!

Regards

Ouzo69

Wow, this was a great tool! Do you have any chances to make it working again?
Did you check Bitstamp? Maybe they accept it as they are not situated in the USA where the law is very strict regarding finances and trades.

Hello Fuwe!

Code generation on MtGox doesn't work for quite some time now! Even BTC redeemable codes are not possible anymore.

MtGox had to cease the generation of redeemable codes due to legal issues.

This means also, that Bitinstant function of BTC-Trader will not work at the moment.

I don't exactly know what is the matter with Bitinstant now, but the website is not open for making transfers at the moment.

Best regards

Ouzo69

But Code generation did not work at the moment?

Hello koin!

Sure you can create an API Key, which is not capable of doing withdrawals. Just leave the "Withdraw" checkbox unchecked to prevent withdrawals. I can understand, that you want to be cautious using a software you don't know exactly. Please note, that the Page "Withdraw BTC" would not work in this case, since the withdraw had been disabled.

Please don't hesitate to contact me, if you still have some questions.

Regards

Ouzo69

http://home.arcor.de/hansch011/MtGox_API_Key.png

this requires an api key and secret used for my mt. gox account.  does mt. gox issue these in a way so that they can be used only for trading and not for withdrawals?

Hello hamdi,

to be honest arbitrage is just possible under certain conditions. At a Bitcoin price like now, the difference between MtGox and BTC-e should exceed 0.25 USD. Then you will make some profit. Lets say, that the difference in in price would be 0.30 USD. This means, that the price of 1 Bitcoin on MtGox site is 0.30 USD higher than the price of 1 Bitcoin on BTC-e site. Trading like this you will earn about 0.05 USD for every Bitcoin you sell on MtGox and buy back on BTC-e.

Sure you have to transfer at least 20 USD from MtGox to BTC-e, since this is the lower limit for Bitinstant transactions! And the second thing is the fee of BTC-e site for sending Bitcoins. It is 0.01BTC, which is about 0.12USD at the moment. So it wouldn't make much sense to try this with only 2 BTC! You should have at least about 10 BTC if you do your trading this way. Last thing to take care about are the Bitinstant Reserves on BTC-e website, which are displayed on the lower right. You should check if the reserve are still sufficient. In time of very heavy trading in the market Bitinstant reserves may run dry.

At the moment:

Reserves:

BitInstant: 30033 USD

So plenty of funds left! But if there are very good arbitrage opportunities, these funds run out very quickly!

You will not make a vast fortune in doing this, but you can generate small profits from time to time and even higher profits if the market is good.

In my case I started with 103.6 BTC this morning. Now I have 105.4 BTC. This doesn't seem very much, but about 1.8% in a day is not really bad!

Hope that I answered your question. If there are still some questions left, please don't hesitate to ask me.

Regards

Ouzo69

is arbitrage this way profitable? the bitinstant fees are not really low...

Hello,

my name is Andreas and I developed a MtGox Bitcoin Trading client software. All the development took about one year since I had been working on my own. But now the software has many functions implemented and it very convenient in its use. BTC-Trader is capable of using all MtGox API functions with some additional features!

My website is https://www.mybtc-trader.com.

Do you believe, that you can transfer 2 BTC on MtGox to 2 BTC on BTC-e within a minute? Impossible? For BTC-Trader is is not!

To demonstrate the power of BTC-Trader, I made a Youtube video. But please take a look at the steps performed in the video first in order to understand what is going on in this video:

1. Sell Bitcoins on MtGox site to get USD funds.
2. Use the USD funds on MtGox for creation of a MtGox coupon code.
3. Creation of a Bitinstant quote with a mouse click.
4. Execution of a Bitinstant transfer to BTC-e Bitcoin exchange.
5. Checking the Bitinstant API response for retrieval of funds.
6. Purchasing Bitcoins on BTC-e exchange.

All this processes are performed in just 50 seconds. If you don't believe it, take a look at this video: http://youtu.be/Bq2devvvyrg

In order to proof that this software is trustworthy I bought an SSL certificate with enhanced validation from Geotrust. To get this really cool certificate it took me about two months. But now I have this green bar in the address field of your browser and I hope, that you can trust my BTC-Trader now!

Take a look at my website and give it a try. The first ten users, who will request a serial via email, will get a two weeks license for free!

You can leave me a message in the "BTC-Trader Chat" on my website.

Best regards

Andreas