Why such a difference between the different exchanges?

tomcollins

full member

Activity: 182

Merit: 101

Quote from: SgtSpike on May 01, 2011, 09:29:02 AM

Quote from: tomcollins on May 01, 2011, 08:13:51 AM

Quote from: SgtSpike on May 01, 2011, 03:24:33 AM

Quote from: tomcollins on April 30, 2011, 09:30:02 PM

Quote from: SgtSpike on April 30, 2011, 08:28:16 PM

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit.

Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy.

I'll take $4. Wink

If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you.

How could it possibly take 4 hours of work to make two trades and a bitcoin transfer?

It doesn't. But it takes time to set up accounts everywhere. It takes time to transfer money. It takes time to *identify* the opportunities. That's the key there.

If it was so easy to make a profit, wouldn't someone already be doing it? My guess is people already are.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: tomcollins on May 01, 2011, 08:13:51 AM

Quote from: SgtSpike on May 01, 2011, 03:24:33 AM

Quote from: tomcollins on April 30, 2011, 09:30:02 PM

Quote from: SgtSpike on April 30, 2011, 08:28:16 PM

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit.

Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy.

I'll take $4. Wink

If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you.

How could it possibly take 4 hours of work to make two trades and a bitcoin transfer?

tomcollins

full member

Activity: 182

Merit: 101

Quote from: SgtSpike on May 01, 2011, 03:24:33 AM

Quote from: tomcollins on April 30, 2011, 09:30:02 PM

Quote from: SgtSpike on April 30, 2011, 08:28:16 PM

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit.

Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy.

I'll take $4. Wink

If you don't mind 4 hours of work for $4, there are some sweatshops that might be interested in hiring you.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: tomcollins on April 30, 2011, 09:30:02 PM

Quote from: SgtSpike on April 30, 2011, 08:28:16 PM

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit.

Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy.

I'll take $4. Wink

fabianhjr

sr. member

Activity: 322

Merit: 250

Do The Evolution

What he tries to do involves automated trade. So he can arbitrage so meta between exchanges. Tongue

tomcollins

full member

Activity: 182

Merit: 101

Quote from: SgtSpike on April 30, 2011, 08:28:16 PM

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

And you can buy the 4 bitcoins for sale there at $2.50 or whatever and sell them for $4 profit.

Arbitrage opportunities do exist, but it's hard to really be worth your while in the small Bitcoin economy.

benjamindees

legendary

Activity: 1330

Merit: 1000

I can tell you the reason I haven't even considered trading on Bitcoinmarket is that it has a horrible UI that is written in Javascript or something. I'm not sure I could tell you what the exchange rate even is or how to join.

SgtSpike

legendary

Activity: 1400

Merit: 1005

I just asked for an invite on bitcoinmarket... hopefully I can cash in on some of the discrepancies between the markets in the future!

fabianhjr

sr. member

Activity: 322

Merit: 250

Do The Evolution

The problem is that it is the last trade, look at the bids and asks, now if you can make a profit. Go ahead!

tomcollins

full member

Activity: 182

Merit: 101

Quote from: SgtSpike on April 30, 2011, 06:14:29 PM

Looking at the charts here (http://bitcoincharts.com/markets/bcmPPUSD.html), I've noticed that while MtGox is up around $3.57/BTC, bitcoinmarket is only at $2.30/BTC (last trade). Why is this? Couldn't someone just snatch up all of the cheap BTC off of bitcoinmarket and resell it on MtGox?

Yes, they could. How many are actually available to buy at Bitcoinmarket?

SgtSpike

legendary

Activity: 1400

Merit: 1005

Looking at the charts here (http://bitcoincharts.com/markets/bcmPPUSD.html), I've noticed that while MtGox is up around $3.57/BTC, bitcoinmarket is only at $2.30/BTC (last trade). Why is this? Couldn't someone just snatch up all of the cheap BTC off of bitcoinmarket and resell it on MtGox?

Topic: Why such a difference between the different exchanges? (Read 1795 times)