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/biz/ - Business & Finance

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10041423 No.10041423 [Reply] [Original]

does anyone know the otc btc situation in china? before china banned cny/btc pairing and exchanges alltogether in china they always paid 10-20% premium. i want to know if they still do it otc as i have the option to get cny ouf mainland china through close friend working for the gov.

problem is i have to fly there to ask him because he is to paranoid to talk over wechat but i want to check beforehand if its worth it.

any anon know more? will tip generously for info.

>> No.10041470

There are plenty of options for otc.

Why would you want to pay more? Just cause you have cny to use?

There are plenty otc that'll accept cny just give it a google and you'll find out.

I'm pretty sure Abra app will let you fund in cny and purchase right from the app.

There are also encrypted apps for talking like wickr.

Also I'm pretty sure we chat is encrypted also.

>> No.10041495

>>10041470
im not talking about buying but flying there and selling somebody btc +10-20% for yen if they do still pay premium.

>> No.10041517

https://localbitcoins.com/instant-bitcoins/?action=buy&country_code=CN&amount=&currency=CNY&place_country=CN&online_provider=ALL_ONLINE&find-offers=Search


Here ya go anon

>> No.10041548

>>10041495
Ooooh I gotcha now.
Your looking to become a supplier.

If you have the btc to back it, get listing on that site.

I mean, it'll all depend how much you want to invest in it.

You could run ad campaigns to get some buyers or create a website that's accessible to the Chinese to buy directly from you from there.

most suppliers make their money on service fees or having long relationships with people that hold.

If you got stacks of btc this could work.
Or you could become the middle man and just broker deals.

>> No.10041576

It's crazy to me how /biz/ consistently posts best /s/ and nobody ever points it out.

>> No.10041619

>>10041576
I dunno what you mean by that..

Anyways. After some quick digging it seems like the Chinese are selling for less then market price in USA/cad.

If you have the cny I'd suggest buying btc with that in China, move btc to exchange of choice and sell it off for profit.

I'm not sure of the scale of how much your going to do but there's room to make money going either way with your idea.

>> No.10041624
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10041624

>>10041423

>> No.10041670

>>10041619
>After some quick digging it seems like the Chinese are selling for less then market price in USA/cad.
how come anon? wouldnt it make sense for something harder to acquire be worth more? or is bitmain dumping on their own kind aswell kek

got an idea for me? i have the cny and can move it easily in and out

>> No.10042336

>>10041670
well, thats just what the market holds at the moment. If you have millions you could buy up the Chinese market at a discount and sell in the us..

Like if someone has enough btc, perhaps they want to unload it. And the easiest way for them would be selling st a discount. Atleast with otc the deal won't affect market sentiment.

It's really only feasible if you have stacks of btc. You could also just create a bot that could find arbitration easier then the Hunan eye could.
There's risk in everything.