RE: Daily: What the FUD China, Giveaways Part #1
Hi @boxmining and everyone. Many thanks to the author again. I am just watching this channel every day - very informative and saves me a lot of time.
Speaking about the current FUD. There is one thing which is not clear to me. I have not seen anything like that before (though I am not a crypto day-trader, so do not watch crypto charts often enough). But it is just interesting , whether the gap I noticed (explained below) appeared just recently because of so many upward and downward fluctuations in a pretty short period of time... Or it happens from time to time and I was not just attentive enough before. I am glad to hear from anyone who knows what is going on, guys! So let's get to my question...
I found this situation a few hours ago:
Why there is such a difference between Bittrex and Poloniex (Steem coin)? Why can't I just buy Steem coin at $1.09 at Poloniex and immediately sell at $1.26 at Bittrex? I know there is no "free money", so should be something I am missing here... :)
There are lots of inefficiencies in the cryptocurrency markets when you have big swings up or down. Gaps like this happen and typically close within a couple of days. It really is "free money" but you have to be quick to capitalize before the gap closes.
Thanks @lucidsenses Sounds really good. Have you ever tried to get profit out of Bittrex/Poloniex gaps yourself? I have not ever used Poloniex as I found some negative reviews on the internet, so I am just interested whether someone tried to earn on this kind of situations already.
I was studying arbitrage situations in some other industries, for example on sports betting markets, etc. I came to a conclusion that it usually has a number of technical/business hidden issues, even with 1-2% of margin. Here we have much much higher potential margin. Can't even believe it is possible :)