How does the price of a currency stay the same across different exchanges?
Brainlet here
Joseph Miller
Eli Peterson
you should buy link, id say its about your speed user
Parker Cooper
Nathaniel Cook
Brainlet is usually used in jest but you've set a standard here
Brody Ramirez
arbitration bots chinking everyone's money away
Christian Hughes
Because the game is rigged user
Robert Nelson
arbitrage* mislick
Justin Anderson
All cryptocurrency prices are dictated by the Bogdanoffs, who execute their trades on every exchange simultaneously.
Ryan Martinez
arbitrage bots.
Austin Ramirez
Tl dr
Looking for an eli4 thing or whats it called
Jace Miller
ppl way smarter than u program things to make money off mismatched exchange prices.
Luke Clark
James Cook
That shit funny valentine was saying about napkins but in money form
Samuel Gutierrez
bobots check price between exchanges and work to exploit them. keeps price around the same.
people that try it are attempting to pick up pennies in front of a steamroller.
Austin Stewart
Imagine old markets when they were physically separate. If some Joe sold wheat for £10 a sack and in a different region Andrew sold it for £5 a sack, then the market would even out in a couple of ways:
1. People could buy Andrew's potatoes and sell them to Joe or his customers making profit as middlemen, increasing the demand for Andrew's and decreasing it for Joe's.
2. The respective vendors would see that they are selling at a poor price for business and adjust up or down respectively.
In modern day bots and day traders make this process happen near immediately. Markets can occasionally have slightly different prices but it never lasts long.
Jackson Hughes
5000 TRV will always = one Tesla, the market just hasn't figured that out yet
Angel Wilson
Errr
I dont get it
Im talking about crypto not potatoes and shit
Brayden Price
But there is a difference
I can remember the price of BTC on Bitmex, Binance and Bitfinex differed by over 200$
Jaxon Parker
Quantum entanglement.
Brody Wright
Arbitrage bots. They buy when one exchange has cheaper asset and sell on the exchange that has higher price on it.
Joseph Jones
But where did it all start?
Lucas Hernandez
Because of people and bots, everything is connected.
BitGreen Airdrops in their Discord! only 21Million max supply
Stakebase listed them as their pair (BITG)
20/10% incentives means 5 friends/family staking PoS into BTC makes the service free.
bitcointalk.org
youtu.be
youtu.be
BITG
Parker Long
this the mystery of blockchain, cosmo
Easton Rivera
Because you are a nigger.
Juan Thompson
either this is bait or you are a complete imbecile. That user explained it in the simplest of terms. Do you even know how supply and demand works, nigger?
Samuel Flores
kek
Jace Clark
can confirm this is the ultimate truth
t. IQ 180
Owen Cox
>>potatoes and sheeeeit
Dominic Howard
there's always differences. i have a program running that checks only three exchanges and like 7-8 major currencies.
on days with big market movements like we had the recent days there's ~+5% on some trades. the opportunity usually stay open for couple of hours, very seldom days. on stable sideways movement there's at best a +0.05% gain on a trade. im now working on executing automated trades but its not easy. i doubt too many people have bots running its really difficult.
Joseph Flores
The absolute state of Jow Forums
Joshua Hernandez
eg when that bitfinex/tether Attorney General Event happened and everyone pulling his crypto from Bitfinex there was up to 7-8% in arbitrage for days. but thats very rare.
Nolan Jackson
Currency is bought on the cheap exchange and sold on the expensive exchange.
The act of buying pushes up the price on the cheap exchange, and selling pushes the price down on the expensive exchange. Eventually they reach equilibrium.