I am new to this. I have some questions about the pic.
1) What does it mean that there is such a huge price discrepancy?
2) Can this be abused? Is it illegal?
3) What would it be called to use this?
As I think about it, it would mean that I could buy 1 BTC for $1722 and then sell it at around $3400. Why is that not right?
Thanks.
Here is the pic about the prices.
>>2568958
If you could buy BTC at 1722 I'd say empty your life savings and do it.
But no one's selling for 1722 and no one's buying for 3400 so you're almost definitely retarded.
It's called arbitage, you're looking at btc in 2 different currencies, you'll be competing with bots for milliseconds, you'll be raped by transaction fees. Go for it.
>>2568958
If these prices represent real supply and demand, then go for it. It's called arbitrage. I made some good gains yesterday on arbitrage on folding coin between polo and bittrex.
>>2568958
Perfectly legal
Doing this actually helps the markets to even out
You are taking advantage of their own discrepancies
But by the time your coins transfer and with fees, it's not as easy as it may seem
Holy shit this might actually work. You could make infinite money like this
You're a genious OP
This is going to revolutionize finances
>>2569048
Fuck you.
I know that it cannot be so easy. I am just asking things to understand why.
>>2569054
I think the best profit is made cross continental, not cross exchange
i.e. selling bitcoins via lbc in brazil
>>2569077
Yeah, I saw that when I tried buying here in Costa Rica.