比特币“搬砖”生意忙：境内外交易所巨大差价形成套利空间

原标题：

　　在中国对比特币交易所重拳出击的同时，通过境内外比特币价格差套利的人群“倾巢而动”。

In parallel with the heavy punching at the Bitcoin Exchange in China, &ldquao & & rdquao were moved through the arbitrage of bitcoin arbitrage, both within and outside China.

　　9月14日，国内首家比特币交易所比特币中国发布公告称，该平台即日起停止新用户注册，并将于9月30日停止所有交易业务。而澎湃新闻此前获悉，监管层早已向地方金融监管部门下发通知，要求关闭注册运营在当地的比特币交易所。

On 14 September, the country’s first Bitcoin exchange, Bitcoin China, issued an announcement stating that the platform would cease registration of new users as soon as possible, and that all transactions would cease on 30 September. The news had previously been informed that the regulatory level had issued a notice to the local financial regulatory authorities to close the local Bitcoin exchange.

　　受负面消息影响，比特币价格急速暴跌。在数分钟内，火币网上的比特币价格报21100元，当日跌幅为15%左右，比特币中国上的比特币价格报19100元，跌幅超过20%。夜间，比特币价格又有所反弹。不过9月15日，比特币价格再次大幅下跌，截至7时，火币网和比特币中国的比特币报价分别在18700元和18000元左右。

In a matter of minutes, the price of bitcoin fell sharply. The price of bitcoin on the grid fell by about 15%, and the price of bitcoin in bitcoin in bitcoin fell by more than 20%. At night, the price of bitcoin rebounded. But on September 15, the price of bitcoin fell again, and as of 7 p.m., the price of bitcoin and bitcoin in bitcoin in bitcoin fell by around 18,700 and 18,000, respectively.

　　值得注意的是，比特币在国内外各家交易所的价格都不相同，这就诞生了一门新的生意——“搬砖”。所谓比特币搬砖，就是把比特币在不同交易所之间腾挪，赚取差价套利。

It is worth noting that the price of Bitcoin varies from exchange to exchange at home and abroad, giving rise to a new business — — “ moving bricks & rdquao; so-called bitcoin moving bricks is moving bitcoin across exchanges to earn a different price arbitrage.

　　由于各国对比特币监管政策不同，中国比特币价格一直由于监管加强的因素，而略低于海外，很多人就瞄准了这一时机出手，在国内平台买入比特币，然后转存到国外比特币平台，再提现存款到境外账户。

Because of the different regulatory policies of different countries, China's Bitcoin prices have been somewhat lower than overseas due to regulatory strengthening, and many have aimed at this moment by buying bitcoin on domestic platforms and then transferring it to foreign bitcoins platforms and drawing on existing funds to offshore accounts.

　　这一流程也一直被诟病为涉嫌洗钱和突破外汇管制。今年1月央行入驻检查京沪三大比特币交易所，重点之一就是反洗钱制度的落实情况。当时央行要求，不得参与洗钱活动，不得违反国家有关反洗钱、外汇管理和支付结算等金融法律法规，如发现有比特币交易平台违反上述要求，情节严重的，将提请有关部门依法予以关停取缔。

In January, the Central Bank entered the three main Bitcoin exchanges in Kyoto to check the implementation of the anti-money-laundering regime. At that time, the Central Bank demanded that it should not engage in money-laundering activities or violate the country’s financial laws and regulations relating to money-laundering, foreign exchange management, and payment settlements.

　　在今年1月央行入驻检查京沪三大比特币交易所之前，由于中国交易活跃，占据全球80%以上的市场份额，国内平台报价是高于海外的，所以通过比特币洗钱和突破外汇管制理论上是可以的，但是的确会损失一部分差价，再加上交易、转移和提现手续费，这种模式并不合算。

Before the Central Bank entered the three major bitcoin exchanges in Kyoto last January, it was theoretically possible to launder money through bitcoin and break through foreign exchange controls, but the pattern was uneconomical, coupled with transactions, transfers and cash charges, given that China was active and accounted for more than 80 per cent of the world's market share, and that domestic platform offers were higher than overseas.

　　然而央行介入后，这就成了一门“好生意”。今年年初，日韩比特币交易量大增，价格也高出中国平台一大截，于是有一些比特币玩家组队“搬砖”到日韩套利。一位业内人士对澎湃新闻表示，一个这样的七八人的团队，在这一轮价格差中，就获利了上亿元人民币。

When the central bank intervened, however, it became a & & ldquo; good business & & rdquo;. At the beginning of this year, Japanese currency transactions increased significantly and prices were much higher than China’s platform, so some bitcoin players formed & & & & ldquao; moving bricks & & rdquao; to Japan and Korea.

　　而在上周，媒体曝出中国将禁止比特币人民币交易之后，国内交易所价格暴跌，国内价格最低时仅为海外价格的80%，这就造成了巨大的套利空间。

Last week, after the media exposed that China would ban currency transactions in Bitcoin, domestic exchange prices fell sharply, with domestic prices falling to only 80 per cent of overseas prices, creating huge arbitrage.

　　“上周末（9月9日-10日）是‘搬砖’的最佳时机，可以说是倾巢而出，”一位业内人士表示。

& ldquo; last weekend (9-10 September) was &lsquao; moving bricks & rsquao; the best time to be able to be said to be dumping out, &rdquao; and an insider said.

　　而9月14日，随着比特币中国宣布将停止所有交易业务，又一个套利机会到来。

On 14 September, another arbitrage opportunity came with the announcement by Bitcoin that it would cease all transactions.

　　“国外3500刀，国内折合3200刀，真是浑然天成的搬砖机会，”一位比特币玩家在朋友圈中表示。

& ldquo; 3,500 outside the country, 3,200 within the country, a perfect opportunity to move bricks, ” a bitcoin player expressed in a circle of friends.

　　但一位海外比特币交易所人士对澎湃新闻表示，这种“搬砖”是个技术活，还是有门槛的。首先，为了反洗钱和反对恐怖主义融资，境外比特币交易所的KYC（认识你的用户）步骤做的比较好，比如香港交易所会要求用户居住在香港，需要提供相关证明；其次，在出现套利机会出现的当口，需要大量流动资金，这对投资者的财务要求也比较高。

But an overseas Bitcoin exchange official said to the news that this & & & & & & & & & & & ; is a technical job or a threshold. First, for anti-money-laundering and counter-terrorist financing, the KYC (know-your-customer) steps of the offshore Bitcoin exchange are better done, such as the Hong Kong Exchange requiring customers to live in Hong Kong and require relevant certification; and second, when arbitrage opportunities arise, large amounts of liquidity are required, which makes investors financially more demanding.

　　比特币交易所停运对于海外的比特币衍生品也是利好。注册在塞舌尔群岛，美国运营的一家比特币商品交易所BitMEX相关人士对澎湃新闻表示，每次中国央行加强监管，他们平台的交易量就会暴涨，究其原因，是因为中国有些比特币持有者不愿意抛掉手中的币，选择观望，但是也不甘心贬值，所以会选择与美股挂钩的衍生品工具来对冲风险。

The closure of the Bitcoin exchange is also good for foreign bitcoin derivatives. Registered in the Seychelles Islands, a bitcoin commodity exchange in the United States, BitMEX-related sources have told the news that each time the central bank of China strengthens its supervision, its platform’s transactions will surge because some of China’s bitcoins do not want to throw away their currency, choose to watch, but do not want to devalue, and therefore choose derivative instruments linked to the United States stock to hedge risks.

　　比如说，他们有一款比特币美股总回报掉期（ETRS）的模式是，客户存入比特币，发出指令建仓买入美股，用美股的收益来平衡掉自己手中比特币的贬值，等到平仓之后，客户收到的还是比特币。

For example, they have a model of a Bitcoin total return swap (ETRS) in which customers deposit into Bitcoin, issue orders to build warehouses to buy shares in the United States, balance the depreciation of the Bitcoin in their own hands with the proceeds of the United States shares, and when they level down, the customers receive the Bitcoin.