Anyone into Bitcoin Arbitrage?

The pros are not doing anything as simplistic as sending cash to a foreign exchange to buy and then transferring it back to cash out.
 
garp said:
The pros are not doing anything as simplistic as sending cash to a foreign exchange to buy and then transferring it back to cash out.
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Yep, but it's funny how something as simplistic as this can earn some extra money. The 1mill cap is unfortunate, I've had a long discussion with some tax consultants and if you'd like to extent this and you're playing with like 300 000 you'd have to get a tax clearance for each transaction above your 1 million cap. Which complicates it even further then is you have to then show the source of funds each time, meaning records and proof of the transactions moving between the exchanges.
 
Are you guys comfortable with python. Will upload soon, I've removed some code from it, (the bot part) as I'm not comfortable to share that.

This should be a good indication of how the spreads currently are lined up, you'd still have to go verify the volume on altcoin's side, no use trying to trade 300k of ripple if there is only a buyer for 20 000 at your given price.
 
Fransh said:
Are you guys comfortable with python. Will upload soon, I've removed some code from it, (the bot part) as I'm not comfortable to share that.

This should be a good indication of how the spreads currently are lined up, you'd still have to go verify the volume on altcoin's side, no use trying to trade 300k of ripple if there is only a buyer for 20 000 at your given price.
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Yes, python should be fine for me. I am more comfortable with php so i will Try and re write in php and share if anyone interested
 
How do you guys manage to get Money on kraken. I only see an option that supports European countries. SEPA payments.
 
blah99 said:
How do you guys manage to get Money on kraken. I only see an option that supports European countries. SEPA payments.
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Yeah, I also noticed that on kraken now, also a message that swift deposits disabled :

“ How to deposit via SWIFT international wire transfers

Note that SWIFT (SMBC) deposits were disabled at 11:59 PM (JST) on March 20, 2018. Any deposits not received by this time were returned to the sending bank. “


https://support.kraken.com/hc/en-us...eposit-via-SWIFT-international-wire-transfers
 
Viper25 said:
Yeah, I also noticed that on kraken now, also a message that swift deposits disabled :

“ How to deposit via SWIFT international wire transfers

Note that SWIFT (SMBC) deposits were disabled at 11:59 PM (JST) on March 20, 2018. Any deposits not received by this time were returned to the sending bank. “


https://support.kraken.com/hc/en-us...eposit-via-SWIFT-international-wire-transfers
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Transfers still work. Ive been doing wire transfers to them the whole month. You cant withdraw in fist tho and they only support euro deposits.
 
Fransh said:
Yep, but it's funny how something as simplistic as this can earn some extra money. The 1mill cap is unfortunate, I've had a long discussion with some tax consultants and if you'd like to extent this and you're playing with like 300 000 you'd have to get a tax clearance for each transaction above your 1 million cap. Which complicates it even further then is you have to then show the source of funds each time, meaning records and proof of the transactions moving between the exchanges.
Click to expand...

Hint: This is all irrelevant - they don’t transfer between exchanges in fiat. You don’t need to tfr back to SA exchanges to exploit max differentials.
 
garp said:
Hint: This is all irrelevant - they don’t transfer between exchanges in fiat. You don’t need to tfr back to SA exchanges to exploit max differentials.
Click to expand...

I've most definitely send you a PM.
 
I've send a good step by step guide to someone by PM. So if anyone else is interested PM me.
It's by no means very sophisticated but should help you if you just want to make a bit of cash while you can.
 
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