Sell MtGox - page 2. | Bitcointalksearch.org

MoreFun

legendary

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WePower.red

Quote from: Tzupy on July 25, 2013, 04:42:13 AM

IMO the arbitrageurs that bought BTC on Bitstamp and sold on MtGox still have most of their $ on MtGox.
If they would transfer the $ to Bitstamp they would be in limbo for about a month or more, and BTC could go up 20% in this time.
At some point the arbitrageurs run out of $ to buy on Bitstamp, just like the BTC buying whale probably runs out of $ on MtGox.

What if it drops by 20%? They would be able to buy much more for their money. Not saying that arbitrage is smart... but just reminding.

Tzupy

legendary

Activity: 2170

Merit: 1094

IMO the arbitrageurs that bought BTC on Bitstamp and sold on MtGox still have most of their $ on MtGox.
If they would transfer the $ to Bitstamp they would be in limbo for about a month or more, and BTC could go up 20% in this time.
At some point the arbitrageurs run out of $ to buy on Bitstamp, just like the BTC buying whale probably runs out of $ on MtGox.

BitPirate

full member

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RMBTB.com: The secure BTC:CNY exchange. 0% fee!

Quote from: CoinEntropy on July 25, 2013, 02:41:23 AM

Quote from: SGExodus on July 25, 2013, 02:27:00 AM

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

The reason that arbitrage like this 6% spread still exists without fluctuating much is because no one is capitalizing on it so as to close the gap, which then further maintains this arbitrage since MtGox's inability to payout prevents capitalists to risk the uncertainty of withdrawing GXD (Gox USD as a fellow member labeled it) into realized USD.

No, Not necessarily.

Let me ask you a question. What would happen to the Bitstamp price if people dumped right now on Mt Gox and dropped the price by $10?

More likely than not, it would drop too, as Mt Gox still (albeit to a slightly lesser extent) influences the prices on other exchanges.

Kazu

full member

Activity: 168

Merit: 100

Quote from: SGExodus on July 25, 2013, 02:27:00 AM

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

Except this won't work because Bitstamp accepts USD, not GXD.

CoinEntropy

full member

Activity: 126

Merit: 100

Metacoin Enthusiast

Quote from: SGExodus on July 25, 2013, 02:27:00 AM

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

The reason that arbitrage like this 6% spread still exists without fluctuating much is because no one is capitalizing on it so as to close the gap, which then further maintains this arbitrage since MtGox's inability to payout prevents capitalists to risk the uncertainty of withdrawing GXD (Gox USD as a fellow member labeled it) into realized USD.

SGExodus

full member

Activity: 232

Merit: 100

Quote from: hgmichna on July 25, 2013, 02:34:26 AM

Quote from: SGExodus on July 25, 2013, 02:27:00 AM

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

And now ask yourself the question, why is it not happening?

Or, to put it more straightforwardly, why are you not doing it?

Are you so naive to think that we list down all our investment activities on the forum?

Tips given. Up to individual readers to perform their own risk analysis on how viable it is. Don't expect to be spoonfed.

hgmichna

hero member

Activity: 695

Merit: 500

Quote from: SGExodus on July 25, 2013, 02:27:00 AM

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

And now ask yourself the question, why is it not happening?

Or, to put it more straightforwardly, why are you not doing it?

SGExodus

full member

Activity: 232

Merit: 100

It's funny people are complaining about free money from the arbitrage

Transfer $$$ to bitstamp to buy bitcoin

Transfer bitcoin to mtgox to sell for $$$.

A quick 6+% profit, after deducting the transaction fees from the two exchanges.

Sure, withdrawal delay with mtgox. Let say, 3 months to cash the money back to your bank.

What's the big deal? It's still an easy 6+% profit over 3 months.

Now, look at how much the bank pay you in saving interest per year?

worldinacoin

hero member

Activity: 756

Merit: 500

Not really, you can opt to have the money transferred, problem is just verification has to be done. ATM there is no escape from Mtgox as they are still by far the largest exchange, hopefully though we can see rapid growth among other exchanges to give a more balanced market.

Ares

full member

Activity: 238

Merit: 100

Quote from: notme on July 25, 2013, 01:25:57 AM

Quote from: coinprize on July 25, 2013, 01:22:21 AM

Oh.
Look at your topic..
Sell Mtgox.

It seems that Mtgox is for sale. Shocked

I'll start the bidding at $1

take it

notme

legendary

Activity: 1904

Merit: 1002

Quote from: coinprize on July 25, 2013, 01:22:21 AM

Oh.
Look at your topic..
Sell Mtgox.

It seems that Mtgox is for sale. Shocked

I'll start the bidding at $1

coinprize

member

Activity: 98

Merit: 10

Invest NASDAQ in Bitcoin

Oh.
Look at your topic..
Sell Mtgox.

It seems that Mtgox is for sale. Shocked

Kazu

full member

Activity: 168

Merit: 100

Face it, selling Bitcoin on MtGox is not truly getting USD, but getting MtGoxUsd, a complex derivative whose value is tied to the likelyhood of mtgox not fucking up.

If you are such a bear and want to sell Bitcoin, do yourself a favor and sell it on a real exchange. If MtGox really planned to pay back USD they would conduct arbitrage between their own market and all others (heck, they aren't even in US, so they can even get USD into BTC-E). And they aren't. Its pretty clear what that means.

Topic: Sell MtGox - page 2. (Read 3494 times)