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Show HN: I built a live Bitcoin price aggregator with multiple indexes
11–20 of 68 posts
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#12I'd love to see this, but also including exchanges across different currencies (e.g. CNY) and normalized.
Kind of like http://bitcoinaverage.com/ does, but with a nice chart like http://bitcoinindex.es/.
I suspect the visualized data will be much more interesting, since different local economies behave differently. For example, when BTC was "crashing" yesterday to $850 USD, Chinese trades were still holding well about $1000 USD. Eventually the arbitrage opportunity becomes too big and the gap is closed. Watching this is fascinating.
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#13Firstly, that's very cool. Well done! Secondly, I know hardly anything about bitcoins - but here all I see is an arbitrage opportunity. Buy bitcoins from BTC-e and sell them on MTGox, which seems to be consistently around 150 (I assume USD) different. Am I missing something here?
It is impossible to withdraw USD from MtGox.
Excuse my ignorance, but can you elaborate?
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#14Firstly, that's very cool. Well done! Secondly, I know hardly anything about bitcoins - but here all I see is an arbitrage opportunity. Buy bitcoins from BTC-e and sell them on MTGox, which seems to be consistently around 150 (I assume USD) different. Am I missing something here?
withdrawing USD from mtgox and transferring them to btc-e takes roughly two hours, depending on which payment processor you choose. okpay is usually pretty fast, but you loose about 50$ on commission. furthermore unless you are verified on mtgox, you've got a withdrawal limit of 1000$ per day. add to that the time interval during which your money is locked up either in the blockchain or the payment processor and you end up with substantial risk between the trades.
EDIT: This only worked until the end of may - I've just noticed that OKPAY withdrawal is no longer an option: https://www.mtgox.com/pdf/20130528_okpay_statement.pdf
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#15Firstly, that's very cool. Well done! Secondly, I know hardly anything about bitcoins - but here all I see is an arbitrage opportunity. Buy bitcoins from BTC-e and sell them on MTGox, which seems to be consistently around 150 (I assume USD) different. Am I missing something here?
The fact that there is a gap that large between exchanges is indicative of a huge liquidity problem in the exchanges. Big enough that I wouldn't go near it...even with my arbitrage-loving mitts.
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#16Shows a blank page for me or a "Whoops, something went wrong!".
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#17Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#18Earlier quoted context omitted.
It is impossible to withdraw USD from MtGox.
Excuse my ignorance, but can you elaborate?
People have said they're nearly insolvent. They're also being sued I think. So, withdrawing USD from Mt. Gox you're screwed... I waited 3 months and gave, up, converted my dollars into bitcoin and sold it elsewhere.
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#19Now that I have a huge stash of bit coins I was thinking of making a service/startup where you could lend out your bit coins to people who would agree to pay you back a slightly higher number of coins in the future. Kind of like a bank but not corrupt and full of banksters like the federal reserve and JP Morgan. Once I have traction I can IPO but instead of sell my shares for cash I would sell them in bit coins.
I think it would have some kind of restful API.
Re: Show HN: I built a live Bitcoin price aggregator with multiple indexes
#20Are you working on re-upping it? I would like to see.