Topic: Which currency is bitcoin cheapest in? - page 3. (Read 2740 times)

i know what he was suggesting. but i was adding the real outside the box VALUE
EG if i shouted right now rupee is 1% cheaper.. by the time the OP reads it. its gone.
before the OP even got to convert dollar to rupee to then buy btc, speculation and arbitration has changed the value. now rupee is not cheaper

i mention this. because say you had $600(already earned).. it doesnt matter if you converted it to any currency in the world to then buy btc. because the small fiat<->fiat exchange rates do not offset the 'fee' to swap dollars to another fiat before even buying bitcoin.
arbitrage is speculative and only gets you small percentages if timed right.. because arbitrage/demand/supply equalizes the fiat <-> fiat +-1% and there is never a real stable currency to choose and stick with.

but say you are thinking about earning $600 a fortnight to later convert to btc
you want to actually move to a place that can get you "cheap" bitcoin. someone from cuba, UK, Idaho would be better off moving to california and they will see they have to work less to then get bitcoin.

now say you are willing to put 80 hours of sweat a fortnight into getting btc.
in cuba your 80 hours will get you 0.00666667btc
in california you will get 1.3btc

so based on the big picture. of ongoing bitcoin purchasing.. you will earn more btc moving to california.. or even, montana to earn fiat and buy bitcoin for the rest of your life.

There is price difference in every exchanger depending upon lots of things and one of it is the currency based on which bitcoin is being traded there as well as the payment method each trading platfrom have. So even if you find somewhere bitcoin cheaper you may get same amount of bitcoin due to deposit/withdraw fee that you will get from buying from other trading platform where price is quite higher. So basically there is no any good margin between buying bitcoin from exchanger with cheaper trading price.

As I know bitcoin has the same price in every kind of currency. In my currency (rub) 1 bitcoin cost like 40000 rub and in dollar 600$. And 600$ Cost as 40000 rub. So there is no difference.

I dont think its possible that bitcoin rates can be different for different currencies because they are all connected to each other directly or indirectly so that would mean the same and hence the value will be the same and change equaly in every currencies because they are themselves proportional to each other.

Franky, I think he is referring to different currencies, not a single currency. In the USA a dollar is a dollar.. no matter where you spend it,

you will get the same amount of Bitcoin for it, no matter where you are. { If you are in California or Idaho, and you buy at exactly the

same exchange, you would get the same amount of bitcoins. } He wants to buy Bitcoin with the cheapest currency. Try the Zimbabwian

dollar. { Just joking...  you will still get the same amount, no matter what currency you use. } 

Always figured that bitcoin selling/buying would work on the same principle transacting with a currency exchange.
They ding you on either side of the sale and you end up with less no matter.
The edge seems to be slight and tricky to navigate for the common folk and that would be me.

it doesn't mean that but it is still possible.
it is not that profitable that you may think because the market balances out itself in a very short time and also because there are fees involved but there is always times that there is a bigger difference so balancing out takes time.

Price differences might be due to the fact that there are capital controls against the currency bitcoin is traded in.
For example - just because bitcoin is say costlier in yuan terms doesn't mean that there is an arbitrage possibility.

the only way to truly measure it. is in comparison to minimum wage and also price of buying groceries.

EG
california minimum wage is $10 so for 60 hours of labour ($600) you can get ~1btc
Idaho minimum wage is $7.25, so for 82 hours of labour ($600) you can get ~1btc

trying to think about only the $$ as is is futile. because in most cases buying with uk pound us based on the exchange rate via dollars.

but if you think of it from minimum wage (£7.20)
UK minimum wage is £7.20, so for 67 hours of labour ($489.52=$600) you can get ~1btc
which out of the 3 examples make it "cheaper" to buy bitcoin in california, then UK, then idaho

ill let you do the maths for REAL VALUE. for all area's.. and not the fiat value based on fiat exchange
its also worth adding in the 'cost of living' metric to get a more defined real "cheap" list of places to live to get bitcoin

EG
fiat:
california min wage= $10, loaf of bread $2
idaho min wage= $7.25, loaf of bread $1.50

now imagine they asked each other for one hours labour.
Idaho gets $10 from cali' and can then buy 6.66 loaves.. = happy
cali' gets $7.25 from idaho and can only buy 3.625 loaves = not happy

btc:
california min wage= 0.01666666btc, loaf of bread 0.003btc
idaho min wage= 0.01208333btc, loaf of bread 0.0025btc

now imagine they asked each other for one hours labour.
Idaho gets 0.01666666btc from cali' and can then buy 6.66 loaves.. = happy
cali' gets 0.01208333btc from idaho and can only buy 3.625 loaves = not happy

Just learning more, no specific motives and thanks for the answers

Yes theoretically but more so about learning about btc than trading margin

there will always be some small differences in any kind of market and the bigger the market the smaller these differences are and they will always last shorter too.

in short this is not something that is fixed, sometimes x is higher and sometimes x is lower you have to find it yourself.

and may i ask why you are interested in this?

You could buy and sell between the currencies, if one currency strengthens against another, but the margin for arbitrage is so thin between these deviations that you will have to buy and sell significant amounts to make a decent profit. So you buy with € at a specific price and then sell for US Dollar, when the price dropped against the €. Is that what you want to do?

In any currency, the price of Bitcoin would be the same. I don't see any currency which you can use to buy Bitcoin in a much cheaper price. If there's one that exists, people should have always used it in the beginning. There would be some small difference when you convert a certain fiat currency into another but it's not enough to make some actual profit.

There is no such thing. What you wanna ask is arbitrage trading between the exchanges. 1 btc is ~630$, ~573€. Which one looks cheaper to you? € or $? If you collect your paychecks with €, $ is cheaper.

I don't think arbitrage margin in the currency against another  will be profitable enough if there is any

I really depends o whic exchange to wherever in the world someone is using to change his btc to fiat. Let's just say maybe somewhere where rate of $ is low , there is also a possibility that bitcoin rate is lower compared to other because most exchange uses $ as a rate.

Yes it is possible, different exchangers have different prices for bitcoins. But we must take into consideration that the difference is not significant which means that big difference in prices comes only rarely. Traders usually do arbitrage as to where and what exchange they will buy or sell their bitcoins. Though the price difference is small but if we are talking of volumes it really matters.

the prices are actually various in every exchanger sometime in x echanger is quite high but the margin is not too far compared with y exchanger but the market will be following each other,you need to analyze every exchanger and see the price margins but don't expect that much,and the price is depend on the exchanger not on the currencies,correct me if i'm wrong

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.


yes it will be adjusted accordingly reaching the balance eventually. the price can not stay different for ever.