I'm having trouble finding anyone in my circle that's been able to sell & *receive* the fiat at these rates.
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Oh, we've reached that point already? I sold all my BTC at $8k, but got all my money out.
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You can't arbitrage because of fiat and wiretransfers, supply and demand, btc markets aren't efficient yet.. If u don't understand financial markets pls don't spread misinfo.
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You can still arbitrage given enough liquidity in the exchanges. I happen to have a degree in economics, do you?
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Yes in "Wirtschaftsinformatik". It has more to do with trust issues here combined with amount of users and supply. Hitbtc for example is a scam run by cyber crime guys from st Petersburg, same guys who pulled out bytecoin scam... No one with a brain trades there.
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@davidgerard I don't understand why everybody in the world isn't doing arbitrage? Is it just the difficultly of converting it back to fiat currency? -
automated arbitrage happens all the time! but it's super slow because of the 10min blockchain delay, and fees. the present spread is *with* automated arbitrage
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You're telling me it costs $1,700 in transaction fees to buy a single bitcoin on one exchange and sell it on another?
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no, but it's a PITA and getting actualmoney in and out can be severely problematic and delayed you need to keep in mind, absolutely everything in bitcoin is slapdash, amateurish and barely functional
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also, lotsa frickin luck getting your money out of
@coinbase, as a friend is discovering experimentally (put some money in, is documenting how hard it is to get it out again as ActualMoney)
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No no you don't understand, they will just keep going up because this is the future! /s
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Siehe auch die beiden Bitcoin-Pizza-Accounts, die deutlich unterschiedliche Zahlen zum Kursverlauf verbreiten:
@bitcoin_pizza versus@TheBitcoinPizzaThanks. Twitter will use this to make your timeline better. UndoUndo
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psssst
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