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RE: Poloniex enables steem deposits again. I still don't see my deposit in my balance.
I knew it will take some time but for some reason I transferred all my Bittrex SBD holdings to Poloniex. I don't know how it will go but hoping to be trading soon.
after waiting 15 days for them to simply acknowledge my deposit, do you want to trade with them? do you realise how much deposits they haven't processed? it's gotta be over a million dollars worth so far.
I least want to trade with them but I did see a loophole to benefit from. It's still there but not as much as it had been.
My deposit has been successful. I don't know how much time it took because I was sleeping. I will soon share my experience if it happens. Wanted to try something ingenious.
Well, I just want to know when I'm going to see what was the last of my big powerdowns come under my control again.
Arbitrage is not ingenious, and it saw me get myself stuck with MtGox back in the day, without my AML crap sorted out (I did eventually realise I had proof of address, I just didn't know if a rental contract written in Bulgarian Cyrillic was acceptable).
Arbitrage is the exact word. I just looked up. There was a significant price difference and I saw it as an opportunity. There still is a difference but a smaller one.
I didn't know the word. I just wanted to use my balance to increase the amount of Steem Dollars. Do you advise against it?
I just think you may get caught out losing more than you think through transaction fees and commissions. When arbitrage opportunities are small, often it is purely that cost of doing the arbitrage that creates the difference.
I had that in mind. As per my balance, I was expected to make a $34 gain on one such activity on prices of last 2-3 days. Now though, the opportunity is gone. I don't know why but the difference has fast disappeared.
Each exchange is a marketplace, and has its own price discovery process. There are specialists who arbtrage all the time not just in the cryptocurrency exchange markets, but all kinds of other financial instruments, and even physical goods, and services that can be delivered electronically. In fact, the reason why I live in eastern europe, aside from that I like it here, is the arbitrage of many prices for necessities, which has a price differential due mainly to taxation. I earn the money in markets where my labors are worth more, and then I can spend them here, where the prices are lower.
I think the opportunity is now lost. I will have to wait for SBD price to go up or send them back to Steemit and power up may be.