All posts made by Mike Hunt in Bitcointalk's Wall Observer thread

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.

Quote from: 600watt on December 14, 2016, 08:26:05 PM

have sold some btc. it was a sacrifice for my fellow forum members.

price may explode now.

The fed raised its interest rate by 0.25% today as expected. That might make the price explode. The news will take 24 hours to hit the whole world. Lets's see what China makes of it when it wakes up in 4 hours.