Topic: Why is China so much more expensive? - page 3. (Read 2751 times)
Gox prices were higher because you couldn't get money out. I still haven't seen a comprehensive answer as to how easy it is to cny in and out of their exchanges. Maybe that's a factor? It's also pretty much a separate market. A foreigner can run in and out with coins, local currency might take forever.
Bitcoin mining farms are mostly all in China , invetors are mostly all in china and as you can see they have all the huge trading volumes (Huobi & OKcoin) and they are probably doing some market manipulation since they have shitload of coins as I said .
Note that with 0 fees you can trade the same coin over and over and over.
More volume does not automatically mean higher prices, and more supply definitly does not automatically mean higher prices either. Just because they have more Bitcoin doesn't mean that they should be more expensive.
If they have more volume it means that they can manipulate easily.
Easier than the exchanges that have less volume and less traders.
I think that the exchange rate and fees affect the price too.
Bitcoin mining farms are mostly all in China , invetors are mostly all in china and as you can see they have all the huge trading volumes (Huobi & OKcoin) and they are probably doing some market manipulation since they have shitload of coins as I said .
Note that with 0 fees you can trade the same coin over and over and over.
More volume does not automatically mean higher prices, and more supply definitly does not automatically mean higher prices either. Just because they have more Bitcoin doesn't mean that they should be more expensive.
Bitcoin mining farms are mostly all in China , invetors are mostly all in china and as you can see they have all the huge trading volumes (Huobi & OKcoin) and they are probably doing some market manipulation since they have shitload of coins as I said .
Yesterday China was trading for 2080ish ($330 or €300) while European and American exchanges traded for $317 and €287 respectively.
Usually when there are big differences between exchanges, arbitrage will cause them to move towards each other in price. (I'm going to ignore Russia here because Russia has obvious reasons to lag behind).
Now the European and American exchanges haven't really moved much today but China actually went up to 2123 ($336 or €305.5)
Why is China so much more expensive? Are we just slow to respond? Does China have good reasons to be more expensive?
Depending on how hard it is to trade in Chinese accounts it seems like free money, buy Bitcoin in an European or American exchange, move the Bitcoin to a Chinese exchange, sell it for CNY, sell the CNY for dollars/euros, buy Bitcoin for those, rinse and repeat.
This might be harder than it sounds.
Usually when there are big differences between exchanges, arbitrage will cause them to move towards each other in price. (I'm going to ignore Russia here because Russia has obvious reasons to lag behind).
Now the European and American exchanges haven't really moved much today but China actually went up to 2123 ($336 or €305.5)
Why is China so much more expensive? Are we just slow to respond? Does China have good reasons to be more expensive?
Depending on how hard it is to trade in Chinese accounts it seems like free money, buy Bitcoin in an European or American exchange, move the Bitcoin to a Chinese exchange, sell it for CNY, sell the CNY for dollars/euros, buy Bitcoin for those, rinse and repeat.
This might be harder than it sounds.
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