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iamgettingbuckets•

so....arbitrage?

2
man_of_mr_e•

Only if you have fiat on those exchanges already..

If you look at all the other coins, they're equally depressed, so you can't just send LTC there, because you're going to get a similar ratio of LTC/BTC, just at a reduced fiat price..

So unless you have a bunch of CNY hanging out on an exchange there, good luck.

1
EnaiSiaion•

I don't, but what's stopping the Chinese from buying cheap BTC, sending it to Bitfinex and selling it for USD, then converting those into more CNY?

1
redflyingpig•

1, no more cny inflow to the exchanges anymore, so just the funds already in there playing around. 2, there's a personal annual quota to convert fcy tp cny, and 3, Bitfinex is having trouble with their usd withdrawal. So you need to be really lucky to have all 3 obstacles cleared.

1
man_of_mr_e•

Nothing. Although even for the Chinese, it may be tough to get fiat into the exchanges given the intention of them stopping CNY trading.

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xPoW3Rx•

so what does this mean ? Is there a chance that price in CNY would be like 1000 $ for btc but here 4000 $ for USD. Can this happen ? I mean I expect withdrawals as we are going closer to october on china exchanges, doesn't that mean price drop for sure

1