Topic: Which currency is bitcoin cheapest in? (Read 2740 times)
bitcoin is for the same worth in every currency, when you same amount of bitcoin in to Dollar and then dollar into Euro it will have the same value if you convert the same amount from bitcoin in to Euro.
actually i don't check one by one for all market, i only check with my country currency and with euro as euro is still the highest currency depend from all currency. and for the rate of bitcoin on each market, i think it will have little difference between all market. maybe i do this later to make sure the price and who know i can make arbitrage but i think its should not good because the time spending while we are transfer the fund from one market into other market.
From my point of view and my limited (but somewhat long) experience trading with Bitcoin, I think the most important factors is on the trading platform you use. For example, certain platforms have higher fees which result in seller or buyer trying to regroup their lost over another the other low-fees trading platform. One example is CoinHako who only accept SGD and MYR and they charge 0.9% for each transaction. OKCoin on the other hand only charge 0.20% fees for transaction. If I am right OKCoin China website do not have any trading fees at all - correct me if I am wrong.
TLDR; Most probably affect by the trading platform fees and what currency they accept. Not the currency itself.
TLDR; Most probably affect by the trading platform fees and what currency they accept. Not the currency itself.
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies or will the price for BTC across currencies self adjust throug exhange rate market force.
Yes! it is very possible, As far as I know not all exchangers have the same price of bitcoin, there are some exchange bitcoin is too high and some are not, try to check the different exchange platform you will see the difference.
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies or will the price for BTC across currencies self adjust throug exhange rate market force.
Yes! it is very possible, As far as I know not all exchangers have the same price of bitcoin, there are some exchange bitcoin is too high and some are not, try to check the different exchange platform you will see the difference.
very hard to find the cheapest. because almost all exchange rates have prices a little way. you would be futile, as some exchange that has a low price, even applying the withdrawal fee is very expensive.
Never checked, but I think in developed countries the bitcoin is more cheap because the accessibility and maybe lower taxes...
Anyone can confirm my theory?
Yes you are right, in the developing countries there are zero taxes on so many transaction that take place, I mean even normal transaction not to talk more of bitcoin that is not even known by most of the citizen. It does not attract attention to the government, so they do not even think of taxing people who are using bitcoins.Anyone can confirm my theory?
Price is not necessarly the same on all currencies but the margins are too small to make a profit I would say, it's like the margins between exchanges, it takes too much time to move coins from exchanges so its too risky to do arbitrage.
I do not think there are traders who want to make a profit or do these methods, even if they find the price difference in an exchange and they find the lowest prices on the site, but I'm sure the price difference will not be too great dude, and you will not be able to profit because you will get a big fee ?
Never checked, but I think in developed countries the bitcoin is more cheap because the accessibility and maybe lower taxes...
Anyone can confirm my theory?
Yes you are right, in the developing countries there are zero taxes on so many transaction that take place, I mean even normal transaction not to talk more of bitcoin that is not even known by most of the citizen. It does not attract attention to the government, so they do not even think of taxing people who are using bitcoins. Anyone can confirm my theory?
This is similar to thread that I've read from this forum months ago. The OP of that thread was asking in which country is gold the cheapest and that he was asking that to buy from a country that sells the lowest and then sell it to the country that buys the highest. One guy replied that even if there are differences with the price of the gold, if he were to travel into another country and sell it there, the transportation fee and all those stuffs will just be the same as the profit. Meaning, he'll not earn any money.
I think that can be applied here too. Even if there are small differences in the bitcoin's price in different currencies, you'll still not earn any profit doing it because of the exchange fee, transaction fee, etc.
I think that can be applied here too. Even if there are small differences in the bitcoin's price in different currencies, you'll still not earn any profit doing it because of the exchange fee, transaction fee, etc.
you don't have to go there physically if you want to do the trade, these days everything is being done online and on exchanges. especially with digital currencies it is this way. you buy from one place and sell to the other all digitally and online.
the problem is not with the travel but as you said in the last part it is with the two things: the fees (trading fee and withdrawal fee) and the price difference (it is small)
This is similar to thread that I've read from this forum months ago. The OP of that thread was asking in which country is gold the cheapest and that he was asking that to buy from a country that sells the lowest and then sell it to the country that buys the highest. One guy replied that even if there are differences with the price of the gold, if he were to travel into another country and sell it there, the transportation fee and all those stuffs will just be the same as the profit. Meaning, he'll not earn any money.
I think that can be applied here too. Even if there are small differences in the bitcoin's price in different currencies, you'll still not earn any profit doing it because of the exchange fee, transaction fee, etc.
I think that can be applied here too. Even if there are small differences in the bitcoin's price in different currencies, you'll still not earn any profit doing it because of the exchange fee, transaction fee, etc.
where in the world did you find an exchange that accepts RUBLES?
and it is not right if you are just assuming the price in RUBBLES because if you check the exchange price in different currencies like USD, EUR, JPY, CNY,RUR that exchanges are offering you can see that there in fact is differences even when you change it from fiat to fiat that is why forex has been created!
and it is not right if you are just assuming the price in RUBBLES because if you check the exchange price in different currencies like USD, EUR, JPY, CNY,RUR that exchanges are offering you can see that there in fact is differences even when you change it from fiat to fiat that is why forex has been created!
https://btc-e.com/exchange/btc_rur
You are talking nonsense, prices are relative not absolute.
The value you are transfering is absolute 1 BTC = A * USD = B * RUR = C * CNY = D* EUR ,etc etc
Where A* USD = B* RUR, where the A/B is the USD/RUR rate and so on, but they all equal 1 bitcoin.
i am saying prices change so there is always going to be a difference between prices. you can check it online if you don't believe me.
1 BTC = $649.50 (from btc-e)
1 BTC = 551.04 GBP (from CoinsBank)
1 dollar = 0.81753 GBP (from XE)
which makes your A/B equation wrong
you can go to https://coinmarketcap.com/currencies/bitcoin/#USD (it converts everything to USD) change the price to show the USD values and see the difference which is starting from $571.33 to $675.97
where in the world did you find an exchange that accepts RUBLES?
and it is not right if you are just assuming the price in RUBBLES because if you check the exchange price in different currencies like USD, EUR, JPY, CNY,RUR that exchanges are offering you can see that there in fact is differences even when you change it from fiat to fiat that is why forex has been created!
https://btc-e.com/exchange/btc_rur
You are talking nonsense, prices are relative not absolute.
The value you are transfering is absolute 1 BTC = A * USD = B * RUR = C * CNY = D* EUR ,etc etc
Where A* USD = B* RUR, where the A/B is the USD/RUR rate and so on, but they all equal 1 bitcoin.
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies or will the price for BTC across currencies self adjust throug exhange rate market force.
NO.
All prices are equal, because the currencies themselves are equal of value at exchange rate.
SO 1 BTC = 664$
1 BTC = 39315.11 RUBLES
BUT 664$ = 39315.11 RUBLES
So it will be the same, doesnt matter what currency you buy it in.
where in the world did you find an exchange that accepts RUBLES?
and it is not right if you are just assuming the price in RUBBLES because if you check the exchange price in different currencies like USD, EUR, JPY, CNY,RUR that exchanges are offering you can see that there in fact is differences even when you change it from fiat to fiat that is why forex has been created!
Never checked, but I think in developed countries the bitcoin is more cheap because the accessibility and maybe lower taxes...
Anyone can confirm my theory?
The value of bitcoin in all kind of the currency are same and totally the developed or development country are not giving any effect for that. because the tax is just depending on the miner charge and the exchange charger. totally wrong in your statement. Anyone can confirm my theory?
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies
yes it is possible.
a while (2-3 months ago if I am not mistaken) back bitcoin was so much cheaper in USD than it was in Chinese money.
Quote
or will the price for BTC across currencies self adjust throug exhange rate market force.
yes it will be adjusted accordingly reaching the balance eventually. the price can not stay different for ever.
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies
yes it is possible.
a while (2-3 months ago if I am not mistaken) back bitcoin was so much cheaper in USD than it was in Chinese money.
Quote
or will the price for BTC across currencies self adjust throug exhange rate market force.
yes it will be adjusted accordingly reaching the balance eventually. the price can not stay different for ever.
Is it actually possible that bitcoins are actually cheaper (not by small margin) when bought in certain currencies or will the price for BTC across currencies self adjust throug exhange rate market force.
NO.
All prices are equal, because the currencies themselves are equal of value at exchange rate.
SO 1 BTC = 664$
1 BTC = 39315.11 RUBLES
BUT 664$ = 39315.11 RUBLES
So it will be the same, doesnt matter what currency you buy it in.
Price is not necessarly the same on all currencies but the margins are too small to make a profit I would say, it's like the margins between exchanges, it takes too much time to move coins from exchanges so its too risky to do arbitrage.
I do not think there will be people who want to launch an arbitrage with exchanges in various countries, because I think the advantage will be cut by the fee
Price is not necessarly the same on all currencies but the margins are too small to make a profit I would say, it's like the margins between exchanges, it takes too much time to move coins from exchanges so its too risky to do arbitrage.
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