So... the transfer costs, "arbitrages" between exchanges are very high? How about transferring from exchange #1 to your wallet and then to exchange #2 and so on... wallet-exchange-wallet-exchange... and then out?
Things are starting to heat up again, perhaps. BTC just broke through it's down trend channel to the upside. Wonder how long it can maintain this.
I'm hoping it drops a bit more. Coinjar said my deposit should get processed at 3 am but I'm pretty sleepy. I got the feeling it could be lower in the morning. (Expensive last words?)
I don't think you've understood what arbitrage means in this thread yet. http://lmgtfy.com/?q=arbitrage
Arbitrage example I just executed. Sell at $810 AUD on one exchange. Bought back at $610 AUD on another exchange. $200 AUD profit per BTC. 9oz of silver added to the stack. This is a real example from this morning. DYODD, because it's only going to work if you can a) get fiat into one exchange, b) get fiat out of the other exchange. Also easy for the market to move against you. I lost about 4 BTC when the prices went from $200 north because I could not buy back in below prices I sold at.
Damn Pelican, tell us the exchanges you're working. Just as much for the convenience of getting things in and out as for the price differences. The good thing about alt currency are the massive price differences, but this is tempered by the difficulty of moving funds around (and lag).
https://filler.coinjar.com/ http://anx.hk http://www.mtgox.com http://btcmarkets.net They're the main ones, have posted the list before. Have tinkered on others.
I'm using coinjar and getbit to get funds into the system, coinjar is very expensive but the easiest to get funds out.
anx looks good and it may be a good backup if Coinjar's accounts get shut down by Australian banks. I am in the process of verifying identity with them but my concern is I will be slugged international wire fees of $20-$30 dollars everytime I want to deposit something to Hong Kong.
I've heard that MtGox is difficult to get money in and out? (not to mention expensive) Is this true? If so, what do you use MtGox for? Swapping btc's for ltc's and vise versa? Which reminds me, i'm assuming that all exchange shave off a fee even when trading btc's for ltc's and vise versa? what's the typical percentages they shave off each such trade??
My gox does not support LTC only BTC My gox is the main exchange in oz and this is why it is used : greater liquidity and volumes
Why do you favour coinjar and getbit to deposit funds into the system? Do they accept cash deposits and/or not charge fees for accepting the deposits? Also, why is coinjar expensive when withdrawing money? how do their 'withdrawal' fees work??
Does anyone else think gox is just a racket? Dude that owns it could do all the arbing he likes, all day, no?
