Post
Topic
Board Service Discussion
Re: Arbitrage possibilities with the indian exchanges
by
Herbert2020
on 01/12/2016, 07:37:42 UTC
this topic is shouting shady!
1. why is OP even announcing what he is doing? there is no reason for making competition unless you are advertising the btcindia[dot]org website.
2. the site is "receiving" bitcoin and giving "paypal" this shouts charge-back scam.
3. bitcoin price is currently 58,418 INR in India (Zebpay) which means that site is paying 2000 INR over price for no reason (or for reason of scamming)
4. even localbitcoins bitcoin price is 5700 INR buy and 5500 INR sell another red flag.

in short every other place in India is buying bitcoin for 2000-3000 lower the price of btcindia[dot]org so why would this site want to buy bitcoin over priced and insist on using PayPal?