Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32101. (Read 26609806 times)
November 10, 2013, 11:22:51 PM
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November 10, 2013, 11:01:41 PM
November 10, 2013, 11:00:42 PM
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
can barely transfer between legitimate businesses
I needed some parts from Belgium just a couple weeks ago, took them forever to figure out the new rules
shit is seriously fucked up
All the more reason why bitcoin will take off in the US.
yes, my point exactly, legacy, parasitic payment schemes are uncompetitive with a P2P solution
November 10, 2013, 10:53:35 PM
Yeah...the hardest part is the time lag and fee's moving your dirty fiat around.
FTFY.
November 10, 2013, 10:51:34 PM
Well I bought about 20 btc in the $1xx to $2xx range to just buy and hold anyways. (which is so fucking hard to do)
Was just curious/educating myself now that I'm investing in bitcoin. Still keep some for use, but primarily investing now.
Was just curious/educating myself now that I'm investing in bitcoin. Still keep some for use, but primarily investing now.
November 10, 2013, 10:44:08 PM
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
can barely transfer between legitimate businesses
I needed some parts from Belgium just a couple weeks ago, took them forever to figure out the new rules
shit is seriously fucked up
All the more reason why bitcoin will take off in the US.
November 10, 2013, 10:39:56 PM
How about Coinbase? I just found out that one in the EU can buy BTC with his/her Visa card (for a small fee) directly to his/her iphone wallet... Who needs a bank? 
November 10, 2013, 10:35:08 PM
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
can barely transfer between legitimate businesses
I needed some parts from Belgium just a couple weeks ago, took them forever to figure out the new rules
shit is seriously fucked up
November 10, 2013, 10:34:08 PM
$260 on Gox by Tuesday.
Did you mistype $360?
November 10, 2013, 10:32:42 PM
Then you have money on Bitstamp.....how do you get it out? Bank transfer? Wire? I hope you don't like using your money for a week or two.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Would it really take that long?
It's all money that would just be sitting around anyways.
There's such a big disparity between them..
EDIT: Or just sell them in the exchange section. There's tons of people looking to buy @bitstamp rate or even bitstamp+
Or at US$500 per bitcoin?
http://bitcoincharts.com/charts/localbtcUSD#rg60ztgSzm1g10zm2g25zv
November 10, 2013, 10:31:21 PM
btc-e going to hit 300 tonight by the looks of it (294 currently)
gox:332.5
stamp:314.5
bears: they don't justy shit in the woods they shit themselves everywhere.
where's the $1xx prices we were told about? huh bears?
gox:332.5
stamp:314.5
bears: they don't justy shit in the woods they shit themselves everywhere.
where's the $1xx prices we were told about? huh bears?
I thought it was double digits. I said that would NEVER happen again (unless Bitcoin fails) and I still believe that.
November 10, 2013, 10:24:29 PM
But if I bought on BTC-E couldn't I just immediately send my BTC to Bitstamp and sell?
yes but by the time you've run your money around the block and earned 5%, Bitcoin has appreciated by 20% (or 100%). That is, your money spends 99% of its time in fiat form but Bitcoin is appreciating exponentially.
Nobody puts 100% in BTC so why not arb with the money you hold in fiat, you ask?
The problem is that the risk profile is not the same as your other fiat investments. Its likely more on a level with BTC itself because if the exchange crashes they'll likely take ALL your money not just the BTC. And the exchanges are not insured, in a foreign country, etc. Its like having USD on bitfinex... do you really think that if bitfinex gets cracked and loses ALL its BTC they'll return your USD before declaring bankruptcy?
But sure some people are arbing which is why the prices are somewhat aligned... and that's how BTC flows to China...
November 10, 2013, 10:23:42 PM
Up 17% in btc stash over this weekend. 
Still puts me down since the large correction/"crash", like I assume most people.
Still puts me down since the large correction/"crash", like I assume most people.
No, because we BOUGHT and HELD.
November 10, 2013, 10:23:28 PM
$25 per $300 is not a big arb opportunity.
The 2x wire transfers cost twice that amount...ask your bank what they charge for a wire these days.
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
You may make some money on localbitcoins.com.....there may be an arb opportunity there if you can deposit back to your "buying" exchange quickly.
The 2x wire transfers cost twice that amount...ask your bank what they charge for a wire these days.
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
You may make some money on localbitcoins.com.....there may be an arb opportunity there if you can deposit back to your "buying" exchange quickly.
November 10, 2013, 10:19:18 PM
Then you have money on Bitstamp.....how do you get it out? Bank transfer? Wire? I hope you don't like using your money for a week or two.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Would it really take that long?
It's all money that would just be sitting around anyways.
There's such a big disparity between them..
EDIT: Or just sell them in the exchange section. There's tons of people looking to buy @bitstamp rate or even bitstamp+
November 10, 2013, 10:16:45 PM
Then you have money on Bitstamp.....how do you get it out? Bank transfer? Wire? I hope you don't like using your money for a week or two.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Everyone who trades has gone through this thought process a hundred times...if it was easy all the exchanges would have the exact same price all the time.
Then you have several fee's for buying/selling and wire transfers....and the price of bitcoin has changed so much in those two weeks that you don't know if you will win or lose money in the process.
Everyone who trades has gone through this thought process a hundred times...if it was easy all the exchanges would have the exact same price all the time.
November 10, 2013, 10:14:02 PM
But if I bought on BTC-E couldn't I just immediately send my BTC to Bitstamp and sell?
November 10, 2013, 10:13:45 PM
Yeah...the hardest part is the time lag and fee's moving your money around.
By the time you sell and pay the fee's, transfer the money out to your bank and pay those fee's, wait a few days / weeks in some cases to get it, transfer it back to the exchange to buy, pay those fee's, then buy and pay even more fee's.....you lost your arb opportunity.
By the time you sell and pay the fee's, transfer the money out to your bank and pay those fee's, wait a few days / weeks in some cases to get it, transfer it back to the exchange to buy, pay those fee's, then buy and pay even more fee's.....you lost your arb opportunity.
November 10, 2013, 10:10:50 PM
Couldn't someone just arbitrage the exchanges?
Buy at Btc-e, sell at bitstamp, repeat
profit
Buy at Btc-e, sell at bitstamp, repeat
profitgo for it, report back how that works for you
I'm not going to do it.
I was just inquiring because I was curious if there was something I'm missing here.
Just the little problem of getting cash out of the last/sell exchange and into the first/buy exchange in a timely manner....
I wasn't sure on how that part worked since I've never bought from exchanges.
I figured there had to be some catch to prevent abitrage
November 10, 2013, 10:07:03 PM
Couldn't someone just arbitrage the exchanges?
Buy at Btc-e, sell at bitstamp, repeat profit
Buy at Btc-e, sell at bitstamp, repeat
profitgo for it, report back how that works for you
I'm not going to do it.
I was just inquiring because I was curious if there was something I'm missing here.
Just the little problem of getting cash out of the last/sell exchange and into the first/buy exchange in a timely manner....
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