The age old question about BTC-e and it's price

exoton

sr. member

Activity: 350

Merit: 250

Quote from: promojo on December 15, 2014, 04:45:02 PM

Why is it that BTC-e is always $5-$10/USD lower than other exchanges? Thanks in advance.

promo

Right now it is closer to $1.5 lower then stamp. I have noticed that it is generally somewhat lower, but I wouldn't say it is 1-2% lower.

I would tend to agree with the above argument that since btc-e does not complete any KYC verifications it is going to attract people who value their privacy. Since it is the sale of bitcoin that is going to trigger potential taxes, people are going to want to use them to sell bitcoin more often then they are going to want to use them to buy bitcoin (when taxes are not applicable)

greenlion

hero member

Activity: 667

Merit: 500

If the price is systematically lower, that indicates that there is some advantage to withdrawing dollars there as opposed to the other exchanges, making it a seller's market. The exact opposite of second-half 2013 Gox, where the price eventually decoupled due to the impossibility of dollar withdrawals.

Amph

legendary

Activity: 3206

Merit: 1069

Quote from: 1Referee on December 15, 2014, 05:02:53 PM

Bitcoin doesn't have a fixed price because different exchanges have different traders.

That results in a different price. It have been like that for a long time, only nowadays the price gap is tighter.

i don't he was talking about arbitrage, but why the btc-e arbitrage is lower

try to ask them

promojo

sr. member

Activity: 420

Merit: 250

Quote from: Deadstock on December 16, 2014, 03:02:06 AM

Quote from: Bernard Lerring on December 16, 2014, 02:18:21 AM

I suspected (maybe from a post somewhere on these forums) that BTC-e was Russian hosted.

Is anyone able to confirm this? Should we be worried about using BTC-e since Russia has a bit of a currency crisis going on at the moment?

I'm thinking along the lines of the site suddenly being unavailable etc.

Or is it thriving so much that it should be OK to use?

I trust btc-e more than places like cryptsy..never had a problem with them

I honestly have not had a problem either! I did move my coins however to Bitfinex over the past couple days.

abs350

full member

Activity: 481

Merit: 102

the reason is the difficulty with the banks since they are russian. that means its more difficult to wire money there, so lower $usd price (more demand for $$usd compared to eg. finex)

Cassie.Jill

member

Activity: 83

Merit: 10

only one - the high withdrawal fiat fee

grappa_barricata

full member

Activity: 154

Merit: 100

playing pasta and eating mandolinos

Quote from: Bernard Lerring on December 16, 2014, 02:18:21 AM

I suspected (maybe from a post somewhere on these forums) that BTC-e was Russian hosted.

Is anyone able to confirm this? Should we be worried about using BTC-e since Russia has a bit of a currency crisis going on at the moment?

I'm thinking along the lines of the site suddenly being unavailable etc.

Or is it thriving so much that it should be OK to use?

The owners/operators are from Bulgaria i think, the exchange itself is on the meta-realms.

Deadstock

full member

Activity: 156

Merit: 100

Quote from: Bernard Lerring on December 16, 2014, 02:18:21 AM

I suspected (maybe from a post somewhere on these forums) that BTC-e was Russian hosted.

Is anyone able to confirm this? Should we be worried about using BTC-e since Russia has a bit of a currency crisis going on at the moment?

I'm thinking along the lines of the site suddenly being unavailable etc.

Or is it thriving so much that it should be OK to use?

I trust btc-e more than places like cryptsy..never had a problem with them

Bernard Lerring

sr. member

Activity: 294

Merit: 250

I suspected (maybe from a post somewhere on these forums) that BTC-e was Russian hosted.

Is anyone able to confirm this? Should we be worried about using BTC-e since Russia has a bit of a currency crisis going on at the moment?

I'm thinking along the lines of the site suddenly being unavailable etc.

Or is it thriving so much that it should be OK to use?

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

BTC-E is basically the Switzerland of bitcoin exchanges. No one really knows who owns it and users are not required to post KYC details. Ie it attracts drug dealers and hackers. Because of this, sellers are willing to take a worse price for this privacy which the buyers are aware of, thus the price is always lower than other, more legitimate offerings.

rogerdonkey

full member

Activity: 154

Merit: 100

every exchange have different price,it's tactic marketing

fewcoins

full member

Activity: 126

Merit: 100

Quote from: promojo on December 15, 2014, 06:38:25 PM

Quote from: 1Referee on December 15, 2014, 05:02:53 PM

Bitcoin doesn't have a fixed price because different exchanges have different traders.

That results in a different price. It have been like that for a long time, only nowadays the price gap is tighter.

People on another chat were talking about how they may not have all the coins to cover it and that is why the price is lower. But i do see your point.

ding ding ding! Why else would they manipulate the price lower?! They are spending other people's coins! The poor people who deposit with them Sad

grappa_barricata

full member

Activity: 154

Merit: 100

playing pasta and eating mandolinos

Arbitragers, profiting from price differences among exchanges, minimize those differences up to the point of profitability but no further. This mean that all costs should be taken into account, including the cost of money flow. So, looking at the exchanges, you can guess how much it cost arbitragers to move money around. The reason BTC-E price is lower than most of the other exchanges most of the time is probably due to the cost of moving money in BTC-E being higher than the other exchanges. Cost here include not only money, but time and risk too.

promojo

sr. member

Activity: 420

Merit: 250

Quote from: 1Referee on December 15, 2014, 05:02:53 PM

Bitcoin doesn't have a fixed price because different exchanges have different traders.

That results in a different price. It have been like that for a long time, only nowadays the price gap is tighter.

People on another chat were talking about how they may not have all the coins to cover it and that is why the price is lower. But i do see your point.

1Referee

legendary

Activity: 2170

Merit: 1427

Bitcoin doesn't have a fixed price because different exchanges have different traders.

That results in a different price. It have been like that for a long time, only nowadays the price gap is tighter.

promojo

sr. member

Activity: 420

Merit: 250

Why is it that BTC-e is always $5-$10/USD lower than other exchanges? Thanks in advance.

promo

Topic: The age old question about BTC-e and it's price (Read 1510 times)