Remember when India was at 1000 USD price of BTC when rest of world was below? This was allright but it was due to lack of banks working with exchanges and small volumes.
The Taiwan people have totally different situation.
If you follow my articles you already know of big spread between BitFinex and oter exchanges, sometimes worth over 100 USD per BTC.
Here is whats different than with India situation. BFX is top volume USD exchange, and allows deposits and withdrawals currently ONLY from Taiwan banks. They have some issue with other corresponding banks and only direct wires from and to Taiwan work.
So the process is simple:
Buy BTC at any other exchange, sell on BFX for 100USD+ of pure profit, withdrawal FIAT by wire transfer.
Rinse and repeat.
The reason why BFX isnt collapsing, price of BTC keeps raising and still has volumes despite huge withdrawals are the people from Taiwan (and those having access to accounts) who keep arbitraging the free money between exchanges.
Look only for BTC/FIAT markets, LTC is another story (wrote of it yesterday).
Other Way to Profit On This
More risky way. Get account on BitFinex transfer BTC/ETH there, sell and wait. If they fix bank issues - you also made the 100USD profit. But with bigger risk (what if before they fix they die, or they wont fix etc). Taiwan arbitrage people dont have to wait longer than withdrawal of FIAT takes hence why method is popular now.
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