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This article is pure FUD with lies. 1) The spread is not "plus or minus $500", it's a lot less. See for yourself: http://bitcoinity.org/markets/bitstamp/USD h
by bufferoverflow 9y ago
This article is pure FUD with lies.
1) The spread is not "plus or minus $500", it's a lot less. See for yourself:
http://bitcoinity.org/markets/bitstamp/USD http://bitcoinity.org/markets/bitstamp/USD
At this particular moment the spread is $23 on Bitstamp, zero on GDAX, $11 on Bitfinex, zero on Kraken, zero on it it (where "zero" is something under a dollar, there's not enough precision to display it).
2) Yes, you can cash out, a lot. There are dozens of huge exchanges where the daily volume is in billions.
https://coinmarketcap.com/currencies/bitcoin/#markets https://coinmarketcap.com/currencies/bitcoin/#markets
For instance, Bitfinex USD/BTC 24-hr volume is $1.2 billion.
And that's just one currency pair on one exchange.
- kensey 9y agoWhen article says “plus or minus $500”, it’s not talking about the bid/ask spread on a given exchange, but the price difference from one exchange to the next, which is exactly what your own second link shows. And sure, you can cash out, and see a number in a balance statement. How hard is it to get that cash out of Bitfinex into a real bank though? (I’m not even going to address the inherent hilarity of citing Bitfinex as proof that things are A-OK in Bitcoinia.)
- empath75 9y agoYou can’t get dollars out of bitfinex.
- davidgerard 9y agoI had a commenter on the original post claiming he'd gotten millions of dollars out of Bitfinex two months ago! I pointed out this was actually news, and asked who the sending bank was.