Would you pay a small fee for transferring BTC instantly?

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: sameev29 on May 14, 2014, 09:10:50 AM

As you all know price difference always exists among exchanges.It would be great to make profit if you could buy bitcoins at a lower price from one exchange and sell it for a little higher price at another exchange.You can do it but it takes big amount of time,in this meantime the price difference changes therefore hampering the profit.

I can transfer your bitcoins instantly from one exchange to another.I won't need access to your account or anything.You just send me fee tell which exchange and I will do it for you.It's that simple.

I will start this service if people really want this in their day trading.

PM me for details and leave your suggestions and thoughts here.

Even if this was possible anyone attempting to do this would face counter-party risk. Assuming this service is not a scam it could potentially be hacked, have glitches delaying payment.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

If everyone was making a profit on arbitrage then the gap would close fairly quickly. Roll Eyes

CoinMKT.com

newbie

Activity: 56

Merit: 0

Circle is working on this.
Expresscoin
Coinbase Instant.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: sydneyjames on May 23, 2014, 11:11:15 PM

You can already do this at Coinbase but yes, I would pay a small fee to transfer instantly. I think this is what a lot of people use sites like Localbitcoins etc for.

You absolutely can not do this instantly at Coinbase, as it's not an exchange. Read the thread again. He's not asking if you'd pay a fee to buy coins instantly. He's talking about utilizing two exchanges for arbitrage (ie. sending from Bitstamp to Kraken instantly).

sydneyjames

newbie

Activity: 56

Merit: 0

You can already do this at Coinbase but yes, I would pay a small fee to transfer instantly. I think this is what a lot of people use sites like Localbitcoins etc for.

boraf

full member

Activity: 315

Merit: 103

Instant transfer will involve high cost.

Divinespark

hero member

Activity: 938

Merit: 501

Isn't that essentially what Circle is working on?
Virtually instantaneous, confirmed cross-border transfers?
What am I missing?

CoinMKT.com

newbie

Activity: 56

Merit: 0

I think http://expresscoin.com/ does such services. Worth a look.

davidgdg

hero member

Activity: 552

Merit: 501

Ripple ?

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: d2dtk on May 16, 2014, 11:28:18 PM

How would you be able to do this instantly where as to not cut in to our profits? Alt Coins usually withdraw and deposit pretty fast so you would need to offer something better then the 5-10min window.I would be wiling to pay a fee of course if this is possible since just yesterday I had to do a transfer from mintpal to cryptsy and it took almost 12mins for the deposit to confirm so I could trade.

I think the idea here (at least the way I envision it) would be for him to have coins on two (for the example) exchanges.

Exchange 1: 100 BTC
Exchange 2: 100 BTC

You then tell him you need to transfer 50 BTC from exchange 1 to 2. He would send you (through the p2p/user transfers) the 50 BTC on exchange 2 and you would send 50 BTC + fee to him on exchange 1.

That deal would be done. He'd then equal things out on his own by sending the 50 BTC back from 1 to 2 on his own account, preparing for the next customer.

dadugan

full member

Activity: 179

Merit: 100

Inputs.io used to offer this service.

BitcoinTraders

full member

Activity: 126

Merit: 100

Quote from: d2dtk on May 16, 2014, 11:28:18 PM

How would you be able to do this instantly where as to not cut in to our profits? Alt Coins usually withdraw and deposit pretty fast so you would need to offer something better then the 5-10min window.I would be wiling to pay a fee of course if this is possible since just yesterday I had to do a transfer from mintpal to cryptsy and it took almost 12mins for the deposit to confirm so I could trade.

Yes i also interested in how can you do this instantly!

d2dtk

hero member

Activity: 518

Merit: 501

How would you be able to do this instantly where as to not cut in to our profits? Alt Coins usually withdraw and deposit pretty fast so you would need to offer something better then the 5-10min window.I would be wiling to pay a fee of course if this is possible since just yesterday I had to do a transfer from mintpal to cryptsy and it took almost 12mins for the deposit to confirm so I could trade.

sameev29

full member

Activity: 238

Merit: 100

As you all know price difference always exists among exchanges.It would be great to make profit if you could buy bitcoins at a lower price from one exchange and sell it for a little higher price at another exchange.You can do it but it takes big amount of time,in this meantime the price difference changes therefore hampering the profit.

I can transfer your bitcoins instantly from one exchange to another.I won't need access to your account or anything.You just send me fee tell which exchange and I will do it for you.It's that simple.

I will start this service if people really want this in their day trading.

PM me for details and leave your suggestions and thoughts here.

Topic: Would you pay a small fee for transferring BTC instantly? (Read 1057 times)