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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 2 months, 9 days
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Making even more money with bitcoins
#19151896 - 11/17/13 09:21 PM (10 years, 2 months ago) |
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Correct me if I'm wrong, but this is profitable. I was browsing foreign locations on localbitcoins.com to see if any of the prices were much lower than the standard price (some of them were), and then I landed on a city in Argentina and I noticed that all the sellers were accepting Argentinian dollars only. A complication, I thought at first; and then I went onto xe.com and discovered that US currency is worth about 40% less than Argentinian currency. So, a person can sell all their bitcoins in Argentina and then convert their Argentinian money to U.S. currency and make an extra 40% profit, right?
Edited by s240779 (11/17/13 10:04 PM)
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Making even more money with bitcoins [Re: s240779]
#19151988 - 11/17/13 09:38 PM (10 years, 2 months ago) |
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?????????i wouldn't imagine thered be much opportunity for arbitrage out there. pro's would've spotted taht shit and closed the gap in no time
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fiddle



Registered: 04/10/08
Posts: 1,769
Loc: PNW
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Re: Making even more money with bitcoins [Re: memes]
#19152099 - 11/17/13 09:58 PM (10 years, 2 months ago) |
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Quote:
memes said: ?????????i wouldn't imagine thered be much opportunity for arbitrage out there. pro's would've spotted taht shit and closed the gap in no time
Pretty much this. There's bound to be a boatload of fees otherwise it'd have been done. I suppose it's worth looking into if you've got some free time.
-------------------- Tickle my bassline.
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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 2 months, 9 days
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Re: Making even more money with bitcoins [Re: fiddle]
#19152123 - 11/17/13 10:03 PM (10 years, 2 months ago) |
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Fuck, I messed up my original post. What I meant to say is that if I were to buy in Argentina, I'd be paying 500 dollars for bitcoins that would normally be only 300 dollars. Thus making me think that the reverse would be profitable.
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fiddle



Registered: 04/10/08
Posts: 1,769
Loc: PNW
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Re: Making even more money with bitcoins [Re: s240779]
#19152134 - 11/17/13 10:06 PM (10 years, 2 months ago) |
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You stand to lose the most money converting between currencies (USD -> peso). I'd look into any fees associated with that.
-------------------- Tickle my bassline.
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Repertoire89
Cat



Registered: 11/15/12
Posts: 21,773
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Re: Making even more money with bitcoins [Re: s240779]
#19152146 - 11/17/13 10:07 PM (10 years, 2 months ago) |
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Quote:
Da2ra said: Fuck, I messed up my original post. What I meant to say is that if I were to buy in Argentina, I'd be paying 500 dollars for bitcoins that would normally be only 300 dollars. Thus making me think that the reverse would be profitable.
Try buying like .01 of a bitcoin maybe and transfer it
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evileye001
Stranger then you



Registered: 02/23/13
Posts: 2,341
Last seen: 1 year, 2 months
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Re: Making even more money with bitcoins [Re: Repertoire89]
#19152478 - 11/17/13 11:49 PM (10 years, 2 months ago) |
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i dont get the whole bitcon thing. whats the point anyways?
im shure im just missing it but i hear about them from time to time and google dont tell me to much.
-------------------- we are the universe contemplating its self.
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TheMule73
Stranger


Registered: 08/26/11
Posts: 1,797
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Re: Making even more money with bitcoins [Re: evileye001]
#19152581 - 11/18/13 12:28 AM (10 years, 2 months ago) |
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But really, check out bitcointalk.org. I've been learning from those forums.
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s240779

Registered: 12/07/10
Posts: 12,880
Last seen: 2 months, 9 days
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Re: Making even more money with bitcoins [Re: s240779]
#19158411 - 11/19/13 06:16 AM (10 years, 2 months ago) |
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I went to preev.com and switched the currency to Argentinian pesos and it added a note, "Exchange rate calculated using USD Bitcoin price." and the number it gave me was equal to Bitcoin's value in U.S. dollars. Can anyone explain that?
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