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Bank of Canada Research: Cryptocurrency Arbitrage Doesn’t Exist

Wednesday 13th, August 2014 / 15:03
Bank of Canada Research: Cryptocurrency Arbitrage Doesn’t Exist

A new working paper from Canada’s central bank has found little evidence that arbitrage opportunities in cryptocurrency markets exist.

The paper, Competition in the Cryptocurrency Market, analyses 10 months of publicly-available data from exchanges like BTC-e and Cryptsy, from May 2013 to February 2014.

Examining how ‘network effects’ (the phenomenon of new users augmenting the value of a technology) affect competition in the cryptocurrency economy, the paper looks at competition between both cryptocurrencies and cryptocurrency exchanges. The authors write:

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