The 6 hour charts look eerily similar to an asset bubble popping. LTC: BTC: Would love to see sub-4 $ LTC and sub-100 $ BTC But I don't know if they will drop that low, because there are s many people in the market buying up as soon as it drops.
If you have some forex knowledge, then it's as clear as crystal. The red candles are indicating the dip. It went even lower since I posted it. You can watch the charts here: http://bitcoinwisdom.com/markets/btce/ltcusd Shows BTC-e, Mt.Gox, BTC China...
You're right, it also almost never gets quoted for BTC spot pricing nor technicals - It is as useless of a price as the Gox one is. Not only that but the volume is extremely low.
If BTC-e has lower price for BTC (now 401 $) and Gox has higher (now 471 $), then one could simply buy at BTC-e and transfer to Gox. Correct me if I'm wrong, but this seems very profitable at first glimpse. I don't own BTC, don't know how exactly how everything works.
It's called arbitrage. Transferring BTC between BTC-e and Mt. Gox should be straightforward. However, in this particular scenario, you have two problems - 1) getting USD into BTC-e to buy the BTC, and 2) getting USD out of Mt. Gox once you've sold the BTC.
How about this: 1) buy BTC at an exchange where you can easier upload funds 2) transfer the BTC to BTC-e 3) trade BTC/LTC/etc.... (LOL "etc."!) anything that ends with "C" :lol: on BTC-e 4) finally: sell all for USD on BTC-e 5) and cash out in USD through BTC-e or... 4*) transfer the BTC to some other exchange that allows easy cashing out... perhaps BitStamp? 5*) get your cash out via money transfer
just about to try out your theory that I pretty much was thinking earlier today..we'll see! but it sounds a little too easy!
Hahaha you guys are too funny. Let us know how those easy 20% arbs work out, you'll be rich in no time!
What "20 % arbs", what do you mean? There's no such fee or anything out there. Anyway: buying anything right now it quite a bad moment. LTC and BTC are on a bearish path... I remind everyone the title of this thread: "BTC and LTC bubbles look like popping"
Question: how much are arbitrage costs when transferring cryptos between exchanges? Like from Gox to BTC-e?
Arbitrage can work - look to smaller exchanges though that have a payout reputation. Basically keep some fiat and BTC on hand in a couple, and buy/sell correspondingly. ANX is still getting $640 AUD tonight for example - just sold a few at that price and replaced cheaper.
Back when btc was a lot cheaper and I was still building my position, I had a fantastic method of buying btc. Basically I google-translated my way through one of BTC-e's payment processors and actually got it all hooked up! This meant that I could have money from my bank account into BTC-e in usually about 1 to 2 hours. I think it was a 1% fee on that deposit, and then the usual trade fee to buy the coin. It worked out as such a cheap rate that you could potentially buy the btc and sell it straight to bitinnovate (kind of like coinjar) for something like 10% profit, and you would have the money in your bank the next day. I never actually did it because I was a newb and bitcoins were appreciating so fast it didn't seem worth it to me.
