This paper fits in the trend of discussing the efficiency of cryptocurrency markets. Since 2008, when Bitcoin appeared on the market, arbitrageurs from all over the world have been trying to find the gaps in the markets, which will let them earn risk-free money using financial operations. Although a lot of researchers are trying to figure out arbitrage opportunities, looking at different exchanges and using different cryptocurrencies, so far hardly anyone has looked at arbitrage opportunities with the use of FIAT currencies within the same or different exchanges. This paper examines such opportunities for three different exchanges, i.e. Kraken, Bitfinex and Bitstamp -exchanges that enable trading in USD and EUR against Bitcoin at the same time. The main empirical results suggest that there are significant arbitrage opportunities on these markets. In the paper, we also show the main constraints in FIAT currencies arbitrage on cryptocurrency exchanges.

Background. The FEM is often used in investigations of dentin loading conditions; however, its anisotropy is mostly neglected.

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Description of fatigue crack growth in steel structural components using energy approachInfluence of the microstructure on the FCGR AIP Conference Proceedings 1780, 050003 (2016) Abstract. In this paper, series of FEM analyses were performed to define stress intensity factors in 42CrMo4 steel lug joint and predict cycling crack growth. An eXtended Finite Element Method were used in computations to investigate influence of different types of boundary conditions. Crack geometry was assumed as through -thickness. The Results of stress intensity factors for stationary cracks were compared with Newman and Schijve analytical solutions. Crack paths were obtained for 2D by implementing Paris Law coupled with crack propagation criterion and direct cycling algorithm for three different hardness of steel (28,42,54 HRC). All the studies were computed an pre-processed in ABAQUS environment.

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