Quote:
Originally Posted by SkinnyPupp
It is pegged to BTC pretty much
Which is good because it means GPU mining isn't dead. Mining BTC with a 7870 will get you 0.01 BTC per month. Mining LTC with the same card and selling it for BTC will get you 0.10 BTC per month (worth almost $30 USD now). 10X the amount with the same hardware
The question is, do you sell the LTC for BTC, or hold it and wait to see if LTC breaks off for higher.. It's 0.0129 BTC right now, but it has been as high as 0.03
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uhh this gave me an idea...
i looked up multiple btc exchanges and they all list slightly different prices...
I don't know how the ordering system works for bitcoin since i've never traded any btc... but....
isn't this a huge opportunity for arbitrage?!
open an account at every exchange, dump some money in every account...
find a price discrepancy between two exchanges and buy the cheaper bitcoin while simultaneously selling a higher priced one...
any coin traders wanna tell me why this wouldn't work?
price differences on exchanges:
http://bitcoincharts.com/markets/
the bid and asks are all diff... wtf this is like easy money if the platforms are instantaneous and give you the option to put in orders at the precise price you want.
like right now
mtgox is asking 300
btc-e is bidding at 282.5
(i took the two where they are both updated within the past minute)
that's a spread of 17.5btc...
an instant 17.5btc if you bought and sold instantaneously.
lol...
is there any site that lists the bid and asks and the NUMBER of bid and asks on each exchange?