4 ms·
Buy 10 BTC at btc-e.com for 831.66 USD Sell on MtGox for 591.18 GBP = 901.73 USD (my account is set to GBP) That's 70.07 USD profit from 10 BTC, or ~$7 USD pe
by TomGullen 13y ago
Buy 10 BTC at btc-e.com for 831.66 USD
Sell on MtGox for 591.18 GBP = 901.73 USD (my account is set to GBP)
That's 70.07 USD profit from 10 BTC, or ~$7 USD per bitcoin traded.
Seems like a good opportunity. The problem is you can't cycle your money quickly, it takes time to sell bitcoin for cash and withdraw it ready for the next cycle.
But I mean there's the potential to make ~8% on each cycle. Buying, transfering and selling should also be a fairly quick process so you're not exposing yourself too much.
I think as soon as instant cash deposit/withdrawls are available through various exchanges these gaps will close up pretty fast.
- simondlr 13y agoYou can also play arbitrage between altcoins (BTC to LTC, or LTC to XMP, or any other). On Vircurex, Cryptsy, BTC-e, etc. Even with liquidity being lower you can see them being rather close on the different exchanges.
- jjsz 13y agoDo you know of an economic or finance course that can help me understand how to use Bitcoin or any other currency. There's all the articles explaining Bitcoin but none treating it like a foreign currency and teaching how to apply foreign trade. I'll just search foreign trading at the library in the mean time...
- lmm 13y agoLook at commodities trading books too. Bitcoin et al are not quite as liquid as most forex markets, so they tend to behave more like a commodity.