[ExI] Bitcoin

[J.R. Jones]

On Nov 20, 2013 10:54 PM, "Adrian Tymes" <atymes at gmail.com> wrote:
>
> On Wed, Nov 20, 2013 at 4:22 PM, Kelly Anderson <kellycoinguy at gmail.com>
wrote:
>>
>>
>> On Tue, Nov 19, 2013 at 12:14 PM, Sondre Bjellås <sondre-list at bjellas.com>
wrote:
>>>
>>> For anyone interested in trading Bitcoin, here is a nice site that
shows the differences in value between the various currency exchanges:
>>>
>>> http://www.coined.com/
>>
>>
>> I don't understand how a spread of $70 can be maintained here. Can't you
just run money around in circles and make a profit? What am I missing here?
>
>
> Transaction volume and processing time.  (Also transaction fees, but
they're not a big enough portion to make a $70 spread unattractive.)  In
short, nobody's running enough money around to close the gap...yet.

Particularly the transaction times. I've been playing around a bit with 2
sites, it takes near a week to both get the purchased coins and/or $ from
selling them (coinbase). I'm still "verifying" myself with Mt Gox.

>
> Other than that, it is as you think.  If you've got several thousand $
you could afford to lose (never invest what you need to pay rent and
groceries)...well, I'd experiment with just one bitcoin first, see what the
hidden gotchas are.  But if those pan out and the gap hasn't closed yet,
good luck.

There's likely $ to be made both in arbitrage, as well as riding the
swings.. Providing you can tie your $ up for weeks as mentioned. The %s
could certainly warrant it.
This won't last long however. As it's market cap grows, it's swings will
stabilize.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20131122/dd4e9b1c/attachment.html>