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RE: With Bitcoin, Remittance isn't an Expense, but a means of Profit.
How long do you think the Curry Premium will last though? Others that have existed in the past, most famously the Kimchi Premium (which was as high as 40% at one point) only really lasted for a couple of months. Such is the nature of free markets, I guess.
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It will last as long as the Indian government is limiting and controlling the amount of rupees going outside of the country. That is how the arbitrage is created. Easy to get Bitcoin in, difficult to get rupees out.
Also it's not 10%, more like a few percents right now. Although during the bull run it was 20 to 30%
It does vary; the arbitrage at this very second is ~6%.
There is no exchange in India. I see 3% comparing best price on localbitcoins to Google Bitcoin price. How do you get yours?
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Premium or not, the 20%, 30%, or even 40% fees charged by MTOs via spreads will be an ever-present saving. The current premium is just a nice cherry on top.
Also, I wouldn't term the premium that way; it could offend some people.
Really? Don’t Indians eat curry like Koreans eat kimchi, though?
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