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Board Beginners & Help
Re: Hello! :D (And hardware question)
by
mvd7793
on 13/06/2011, 23:32:14 UTC
Aww that's ok. Here's another question.

Looking at MtGox's ticker data returned by the API, it seems in almost every given scenario it's giving a profit based on their rates.

Specifically:

https://mtgox.com/code/data/ticker.php just returned the following:

{"ticker":{"high":24.5,"low":16,"vol":73423,"buy":19.3444,"sell":19.5981,"last":19.3444}}

Which (I think) means that a Bitcoin was just bought at the rate of $19.3444->1BTC, and a bitcoin was just sold at a rate of $19.5981->1BTC.

As they have a trading API, wouldn't it be possible (and why hasn't someone) written scripts to take advantage of this difference (as it's greater than their .65% fee)? (I just want to make sure I'm not thinking about it wrong.)

$19.5981*.0065= 0.12738765
$19.3444 * .0065 = 0.1257386

So theoretically, assuming those rates were held constant, you'd make a (very small) profit by going from 1BTC --> USD --> 1BTC. Is that math correct?

Thanks! Sorry for the strange question.