Hello guys,
This is the method I use to get free money whenever I am going to sell BTC. I am posting it here incase it helps out someone. Please keep this post only on bitcointalk.org. It is a sort of modification of how trade bots try and profit from market gaps, but it works because it doesnt require currency transfer back to BTC-e.
If you dont like the idea of investing money to sell your coins, this isnt for you. You have to spend an amount generally 10% lower than your expected revenue from BTC sale. You do get it all back almost instantly when you sell your BTC.
Requirements
-BTC you want to sell. For the example we will use 16.73093 BTC.
-Some cash. For the example, we will use $2000. An amount equivalent to the BTC you want to sell (using BTC-e rate) is sufficient.
Example
-BTC-e BTC price = $119.3
-MtGox BTC price = $137
-Price Difference: $17.7
1. Deposit $2,000 into BTC-e
2. Deposit the 16.73093 BTC to sell into MtGox.
3. Buy BTC at $119.3 from BTC-e = 16.73093 BTC at a cost of $2,000
4. Send the 16.73093 BTC to MtGox
5. Sell all your 33.46186 BTC on MtGox at $137 = $4,584
Result:
MtGox revenue without moves: ~$2292
MtGox revenue with moves: $4,584 - $2,000 = $2,584
Thats almost $300 more for free. Since this works on all the exchanges and does not require any fund conversions, fees should be low.
Enjoy your newly found free cash.
This is the method I use to get free money whenever I am going to sell BTC. I am posting it here incase it helps out someone. Please keep this post only on bitcointalk.org. It is a sort of modification of how trade bots try and profit from market gaps, but it works because it doesnt require currency transfer back to BTC-e.
If you dont like the idea of investing money to sell your coins, this isnt for you. You have to spend an amount generally 10% lower than your expected revenue from BTC sale. You do get it all back almost instantly when you sell your BTC.
Requirements
-BTC you want to sell. For the example we will use 16.73093 BTC.
-Some cash. For the example, we will use $2000. An amount equivalent to the BTC you want to sell (using BTC-e rate) is sufficient.
Example
-BTC-e BTC price = $119.3
-MtGox BTC price = $137
-Price Difference: $17.7
1. Deposit $2,000 into BTC-e
2. Deposit the 16.73093 BTC to sell into MtGox.
3. Buy BTC at $119.3 from BTC-e = 16.73093 BTC at a cost of $2,000
4. Send the 16.73093 BTC to MtGox
5. Sell all your 33.46186 BTC on MtGox at $137 = $4,584
Result:
MtGox revenue without moves: ~$2292
MtGox revenue with moves: $4,584 - $2,000 = $2,584
Thats almost $300 more for free. Since this works on all the exchanges and does not require any fund conversions, fees should be low.
Enjoy your newly found free cash.