Quote from: Mike Hunt on December 13, 2016, 06:49:38 PM

Quote from: Ibian on December 13, 2016, 06:41:56 PM

Quote from: Spaceman_Spiff on December 13, 2016, 06:24:29 PM

Quote from: Ibian on December 13, 2016, 03:44:12 PM

Mats problem is that he is stuck on the idea that the only right way to make money is to daytrade. Realizing that he sucks at it, he doubles down and loses even harder.

Meanwhile I just made a hundred bucks in two minutes by buying on localbitcoins and immediately reselling on kraken. There are plenty of ways to make things work for the open minded.

In-person or purely online?

I always deal in cash in person, on principle. I want as little middleman involvement as possible (banks, other third parties) and I don't like "paper trails". Personal privacy is one of my big issues.

Bitcoinity shows bitcoins sell through localbitcoins for higher prices than exchanges. Wouldn't buying on exchanges to sell on localbitcoins be profitable, and vice versa be unprofitable? These are the latest prices bitcoinity shows for the kraken and localbitcoins.

http://bitcoinity.org/markets/kraken/USD = selling at $782.0 and buying at $782.1

http://bitcoinity.org/markets/localbitcoins/USD = selling at $881.8 and buying at $1114

How can you make profit buying on localbitcoins at between $881.8 and $1114, then immediately reselling on kraken at between $782.0 and $782.1?

edit

Bitcoinity shows today's localbitcoins 24 hour high was $2581, and its low was $343.1. Is that how you do it?

I never imagined the prices were so volatile on localbitcoins.

I buy lower than market and sell immediately for a profit.

I sell higher than market and buy immediately for a profit.

And my margin is not that high. I'm satisfied, for the moment, with a humble 5% profit.