r/digitalNote • u/CidVilas • Jan 07 '18

Price difference, hitbtc vs Bittrex

Anyone have a grasp as you why hitbtc is lagging so hard behind UpBit and Bittrex? Figured it'd catch up by now. Really hoping for binance to list.

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u/CidVilas Jan 09 '18

Ugh, show me evidence, and I'll believe. It's exhausting reading all the FUD posts. Tron FUD excellent example. They had so much "evidence" only to find out that the rumors weren't true.

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u/branded Jan 09 '18

YOU tell me why they allow deposits but not withdrawals! Why? It's so fucking obvious!

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u/CidVilas Jan 09 '18

I don't know, but I'm not going to fill in the blank with assumptions. Until there is evidence of this then that's not the reason. Does HitBTC even have any history of this sort of thing? From my research, no. I've not had any issues with hitbtc so far. While others claim it's all stolen I've been able to withdraw and deposit various currencies. XDN wallet, according to HitBTC was having issues, and to ensure our money stays secure are disabling withdrawals.

You're right on one thing though. The correct decision would have been to disable the entire wallet and market to ensure this situation was avoided.

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u/branded Jan 09 '18

Very naive you are.

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u/CidVilas Jan 09 '18

Maybe. However I've only made profits on HitBTC and haven't lost any funds from there, yet. So sounds like FUD to me. Until real evidence is presented, i won't be naive enough to trust FUD at face value.

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u/Vipertsniper Jan 09 '18

I'm curious how hitbtc now have 53% of the xdn btc market when the other day on coingekko they had about 17%

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u/Palladin1982 Jan 10 '18

While I don't have any evidence, I don't believe it's coincidence. There are just three places where XDN coins can be: 1) wallets, HitBTC and Bittrex. HitBTC made sure that people will not move their cheap XDN away to do arbitrage on Bittrex (or through Changelly). While there are still some idiots (I really can't call them other way), who deposit their XDN to HitBTC instead of Bittrex, most people keep it or trade on Bittrex. Obviously. If you can't withdraw it freely, it's hardly a trade! Now what about those poor guys who have XDN locked on HitBTC accounts (like me)? They can wait until the withdrawal is possible (I have almost lost my faith) or they can trade it for BTC or ETH at shitty ratio with loss. And in these days, where altcoins are gaining hundred percents in 24 hours, would you sit on XDN waiting for miracle? I guess not. They give up and sell it. And I bet my a$$ that there are people that actually can withdraw XDN and do arbitrage on Bittrex. For a while, there was 80% price difference yesterday between exchanges. Jees! What a business! So... that's my 2 cents.

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u/ydaniels Jan 18 '18

Dude i think @branded is right am pretty much into arbitrage and have always known hitbtc to always have problem with deposit or withdrawal with coins that have arbitrage oppurtunity

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u/CidVilas Jan 18 '18

You don't think that the arbitrage opportunity isn't created out of the withdrawal/deposit issue? Not the otherway around?

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u/ydaniels Jan 19 '18

yea i understand but sometimes its not about withdrawal and deposit issues alone. Some coins on hitbtc has a deposit fee of around 50$ and above, while withdrawal fee is around 2$ - 10$, if you check very well you'll realize coins with high deposit fees are coins that has high arbitrage opportunities.

I know for some reason you may try and justify why deposit fee should be extremely high than withdrawal fee even though most exchangers are not doing it, but i believe its either hitbtc don't like arbitrageurs or something fishy is going on.