3 ms·

>Synthetic stocks have arbitrage discounts/premiums that shouldn’t exist. So somebody is making mad money from arbitraging them? >Decentralized markets often

>Synthetic stocks have arbitrage discounts/premiums that shouldn’t exist. So somebody is making mad money from arbitraging them? >Decentralized markets often cause the liquidity provider to lost value from “impermanent loss” Someone's loss is someone's gain. >The capital controls thing is a fairy tale. When was the last time someone accepted a ruble in exchange for any major crypto currency? If someone can but BTC with a dollar, why don’t they just evade the control with their dollars? Please try sending money from China to the outside and report back. >Major cryptos are all down 20%+ from their peak. That’s wild inflation. You can do other things with assets than "buy and pray".

Naijoko 5y ago
>Please try sending money from China to the outside and report back. Bank transfere works... or alipay .. or western union... I dont get the problem. But I get the money from chinese customer.
- phyalow 5y ago
  Chinese individuals have a $50,000 USD annual limit on buying foreign exchange/or placing foreign wires. You can read up all about it on the State Administration for Foreign Exchange (SAFE) a.k.a. the Chinese capital control regulator's website e.g. https://www.safe.gov.cn/en/2017/1230/1391.html https://www.safe.gov.cn/en/2017/1230/1391.html Chinese corporations must too also observe strict limits on foreign exchange transfers (although the limits are a little higher). Foreign investors in China have ongoing and substantial difficulty repatriating money/earnings and have previously had to rely on pools of capital known as "QFII" https://en.wikipedia.org/wiki/Qualified_Foreign_Institutional_Investor https://en.wikipedia.org/wiki/Qualified_Foreign_Institutiona... , things have improved somewhat in recent years, but it would only take a minor unexpected decline/appreciation in the CNYUSD or CNH/CNY spread for things to tighten back up.
  - Naijoko 5y ago
    ok thank you I didnt know that. I got regular money from china so I asumed it wasnt that difficult
- AlchemistCamp 5y ago
  When I left China, banks only let me convert 500 USD worth of RMB per day of my savings. This was money that I'd earned legally in China and already paid taxes on. I didn't realize this restriction until after I'd already bought plane tickets and was preparing to leave. I literally could not get my money out in time.
RC_ITR 5y ago
> So somebody is making mad money from arbitraging them? Literally the opposite, b/c if they were, the arbitrage gaps would close! That's how arb. works! >Someone's loss is someone's gain. Sure, if your argument is that crypto's main use case is tricking retail into being fleeced by institutions, then I agree with you. >Please try sending money from China to the outside and report back. You mean the country that will send you to jail for 10 years for transacting in crypto? >You can do other things with assets than "buy and pray" Uhhh is this a currency or a security we are talking about?

Naijoko 5y ago

>Please try sending money from China to the outside and report back. Bank transfere works... or alipay .. or western union... I dont get the problem. But I get the money from chinese customer.

phyalow 5y ago
Chinese individuals have a $50,000 USD annual limit on buying foreign exchange/or placing foreign wires. You can read up all about it on the State Administration for Foreign Exchange (SAFE) a.k.a. the Chinese capital control regulator's website e.g. https://www.safe.gov.cn/en/2017/1230/1391.html https://www.safe.gov.cn/en/2017/1230/1391.html Chinese corporations must too also observe strict limits on foreign exchange transfers (although the limits are a little higher). Foreign investors in China have ongoing and substantial difficulty repatriating money/earnings and have previously had to rely on pools of capital known as "QFII" https://en.wikipedia.org/wiki/Qualified_Foreign_Institutional_Investor https://en.wikipedia.org/wiki/Qualified_Foreign_Institutiona... , things have improved somewhat in recent years, but it would only take a minor unexpected decline/appreciation in the CNYUSD or CNH/CNY spread for things to tighten back up.
- Naijoko 5y ago
  ok thank you I didnt know that. I got regular money from china so I asumed it wasnt that difficult
AlchemistCamp 5y ago
When I left China, banks only let me convert 500 USD worth of RMB per day of my savings. This was money that I'd earned legally in China and already paid taxes on. I didn't realize this restriction until after I'd already bought plane tickets and was preparing to leave. I literally could not get my money out in time.

RC_ITR 5y ago

> So somebody is making mad money from arbitraging them? Literally the opposite, b/c if they were, the arbitrage gaps would close! That's how arb. works! >Someone's loss is someone's gain. Sure, if your argument is that crypto's main use case is tricking retail into being fleeced by institutions, then I agree with you. >Please try sending money from China to the outside and report back. You mean the country that will send you to jail for 10 years for transacting in crypto? >You can do other things with assets than "buy and pray" Uhhh is this a currency or a security we are talking about?