/biz/ - Business & Finance

>>8331612
Nothing, it's called arbitrage.

>open an account on a Korean exchange
can't do that unless you're a Korean citizen

>>8331612
>move to korea
>marry a korean grill, doesnt matter what she looks like
>open account in her name
>arbitrage

>>8331612
>exchange the Korean dollars for USD
Good luck explaining to the IRS how you're generating income in Korea without raising red flags.

>>8331666
Arbitrage is not illegal you mutt

>>8331612
Because LINK will kill arbitrage and then you won't be able to do that anymore. Korean exchanges have artificially inflated prices and the person who tried to regulate them died of (heart attack)...

LINK will succeed when everything else failed and bring us to the start of the golden age of crypto where it is less volatile, more useful, fast, secure and arbitrage/middlemen-free

>>8331689
Everything is illegal if you don't pay taxes, anon.

>>8331701
>crypto taxes
>free country

pick one and only one.

>>8331744
The USA picks crypto taxes, obviously.

There are limits on the amount of money you can send out the country

>>8331612
But first you need to learn how to save pictures

>>8331993

>>8331993
>government can stop you from sending bitcoins

>>8331993
This. I actually have a Korean bank account (I've lived there for 6 years).
It's hard to get money out of there because of the anti-money laundering regulations. I can't even use my Korean debit card to make purchases on overseas website.
t. $20k locked in a Korean account since I left the country 2 years ago.

>>8332073
why not buy btc with that money and then sell it on another country's exchange?

>>8331612
the catch is you end with korean wons

>>8332154
b/c he a dummy

>>8331612
You probably can't open a bank account without a visa. You don't have a korean internet ID number. You don't have a korean phone for 2fa.

My wife is Korean and because she lives in the states she can't open a fucking coinone account.

>>8332154
Buy expensive BTC from a Korean exchange, send to a foreign exchange where BTC is much cheaper and sell. Congratulations, you now have less money than you started with.

>>8331612
>sell that for Korean dollars, exchange the Korean dollars for USD at the current exchange rate, and then use those USD to buy more crypto

This is where you have your problem. If you managed to set up an account on a Korean exchange, once you have sold your coins for Korean won, you then have to a) buy USD in Korea and then b) get the USD out of Korea so you can use it to buy on a non-Korean exchange. Korea has extremely strict laws about money leaving the country and each citizen is restricted to taking a maximum of about 20k out a year. Anything more than that would have to be smuggled out illegally somehow. So you could either take advantage of one 20k arbitrage possibility each year or become a smuggler. But if you're going to become a smuggler there are better things o smuggle. This is precisely why the price discrepancies exist with Korea, because the normal ways for smoothing out market prices don't work due to the semi-closed nature of their economy.

>>8332154
Because I can't use my Korean debit card to buy bitcoin on foreign websites.
The only thing I can do is increase my KRW stack on my Korean bank account. Which would be nice if I still lived in Korea, but I don't.