Do you guys hate money?
I do arbitrage. Earlier this year, I spent all my time in Japan and Korea.
Now it's Iran/Turkey time.
I settled for 5-12% earlier this year per transaction.
It seems to be 70%+ in Iran. Which means, trickling down to Turkey should be easy 30-50%.
Free money doesn't stay free for long.
Elaborate maybe?
Short fiat shitcoins
speak fucking english and stop spacing
are you op?
he's selling bitcones to people in countries with failing fiat.
anyway. how do you manage to not get robbed?
can i come
and then you hodl the inflated fiat?
quickly bring it to the bank to trade for USD or EUR.
No, usually I deal with dollars and euros. The banks don't deal with it and FX changers are 50/50.
In Japan and S. korea it was fine.
But yes, localeth/bitcoin. Gotta get a good rep.
And no, I haven't been robbed yet.
How do you find buyers ? How much btc do you Take with you for a trip like this ? How do you Take the cash back ?
comparing japan korea and iran turkey....
fatal mistake user.
This sounds cyberpunk as fuck OP. Are you taking interns?
turk here. why would anyone buy from you? we already have local exchanges with good reps, and their rates are not bad
Look at bitflyer, I was still selling 10%+ across Tokyo and Hongdae.
Some people can't have that much liquid in one place. Typical places, facebook groups and meetups.
You're 100% right. I'm actually now in SEA. I'm bringing two q2 asians girls I met from bumble for this. better than nothing. Bit sad I won't be fucking the locals.
You can do it yourself. I started with 10k, and ended up doign 30-50K cash deals in the night at restaraunts across different places.
Oh, and FYI user. Casinos are your friend. Fucking Philippines changed their laws man. Macau is still okay, FYI.
Casinos for laundering? Also, is it possible to make a profit doing cash deals in the states? How can I find OTC buyers that do just strictly cash?
Guess I'm retarded and don't get it.
paribu.com (turkey's most used btc exchange) is currently selling btc at the price of 45888 TL.
Btc is currently at 6987 usd
6987 usd makes 46430 TL
Which means there is a roughly 800 TL difference, which makes around 120 usd per bitcoin.
What am I missing? In order to make money, you need to sell it cheaper than exchanges, but more expensive than current btc price
I am obviously missing something.
Ok so I buy one btc here then sell it for 10k in a shithole country. What then? I have to go back to buy more cheap btc and the costs will be too high.
Also how hod I leave that country with that much cash on me..
oh even less than that. I made a mistake at the calculations, difference is around 500 TL, which is around 75 bucks
good job
Anybody selling OTC usually charge at least 3-5% or more on top of the exchange rates. Look at prices on localbitcoins.
I am a larper, the thread
you sound like a super cereal man of mystery