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26 sats \ 3 replies \ @Undisciplined 25 Mar \ on: They Broke the Law—The Law of One Price! (FT, Robin Wigglesworth) econ
"arbitrageurs" - Dope word
Have you ever looked at the spreads in bitcoin prices across different currencies?
@Coinsreporter was showing me a pretty substantial spread between bitcoin/USD and bitcoin/INR (after accounting for USD/INR, obvs) and I was wondering the same thing.
never... all I remember on that is the kimshi trade back in the day...
So... same question to @Coinsreporter, then: why? How aren't people just milking that perpetual financial motion machine?
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People were doing it till there was a loophole. Now they've taxed any sort of Bitcoin donation 30% and profits 34%.
I can only transfer very limited fiat to overseas.
Before 2022, we could do P2P without coming into notice through foreign exchanges which didn't require KYC. Now they all do it. So that's the problem.
Even 1 dollar has arbitrage here. When I do P2P I get 90 INR for 1 USD which is 4 INR more than the actual price.
Still, as I said before, if we can find a way to non KYC P2P Bitcoin sell in India and buy in USD, we can be sitting on a big money very soon. The difference just blows my mind.
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He didn't know. My guess was basically the same as the explanation in this piece: some sort of friction in the financial markets.
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