Arbitrage

Bitcoin cryptocurrency is treated as both a currency and more and more an asset that is exchanged across multiple FX across the globe. This presents an interesting question does the market balance the FX across currencies in real time? If not there would be room for arbitrage and a real ability to make money transferring between currencies using BTC markets. This quick analysis will look to see if it is theoretically possible to make money changing NZD for BTC then to GBP and back to NZD via a BTC exchange....