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For those willing to wait, this should temporarily make arbitrage more profitable. People that cannot wait 2 weeks for withdrawals will have to use their USD b
by downandout 13y ago
For those willing to wait, this should temporarily make arbitrage more profitable. People that cannot wait 2 weeks for withdrawals will have to use their USD balances at Mt Gox to (re)purchase Bitcoins, which can then be moved to other exchanges and sold. This will cause a temporary, artificial increase in demand at Mt Gox only, leading to a higher-than-normal price differential between it and other exchanges.
That said, this is only the latest snafu with these guys. I am tired of all of the issues at Mt. Gox. Someone else really needs to step up in their place.
- 0x006A 13y agojust do it
- 1053r 13y agoOver the last few weeks, bitstampUSD has moved from 6% to 14% on this chart. My guess is that only accelerates that process. http://www.bitcoincharts.com/charts/volumepie/ http://www.bitcoincharts.com/charts/volumepie/
- tlrobinson 13y agoIndeed, MtGox is trading about 5% higher than other USD exchanges right now. There is a (small?) risk that this could be a sign of bigger trouble to come. I don't know if I'd be comfortable leaving USD funds in MtGox right now. Maybe that's a risk others are willing to take.
- downandout 13y agoAgreed. It may be smarter at this point to buy Bitcoins with you USD balance and sell them for EUR, GBP or JPY. The volumes are smaller but it is possible.