Saturday, December 23, 2017

Free Money?

I think I might have stumbled on to a way to actually make free money.
Arbitrage is loosely defined as buying something on one market at a low price and selling it elsewhere for more money.
I might have found a way to arbitrage crypto currencies.
I read an article last week about how a credit union association was using blockchain technology to speed up their transactions. Normally it takes three days to get money into or out of a bank.
If they are doing this they have cut that time to a matter of minutes.
This will enable me to buy ETH on Gemini and sell it at Coinbase at a noticeable profit (maybe $20 for every $1000 invested).
I noticed that my transfers to and from my Credit Union took a lot less time than I anticipated last week. I'm going to the credit union next Tuesday and ask them if they are using the new system. Maybe I can start doing it Wednesday. Monday is Christmas and I'm hoping to visit my brother on Tuesday.
About other news, Bitcoin is fluctuating a lot, lately. It went down by about 30 or 40% a couple of days ago. It made back most of the loses today. I consider it a normal thing for crypto currencies. I'm holding on for dear life in Bitcoin cash, Ether, and Monero. It's just the way it is. I hope it doesn't affect my arbitraging much.
That's all I have for now. Good luck with your arbitraging and I'll see you, later.

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