obvious scam is obvious
while it is possible to arbitrage with indian exchanges(if you live in India)
this particular site is 100% pure scam
please,lock the topic
Topic: Arbitrage possibilities with the indian exchanges (Read 1536 times)
Don't get fooled, this is a scam and OP is the scammer or is speaking on his behalf.
https://www.reddit.com/r/Bitcoin/comments/5hj7i3/scamed_at_btcindiaorg/
https://www.reddit.com/r/Bitcoin/comments/5hj7i3/scamed_at_btcindiaorg/
Stoner is one lucky bastard
Just wanted to shout out that I personally got hit by this and was convinced by stoners version of events.
Reporting my experience, I initiated a 0.5 BTC trade but got a odd request to send an additional 1.5 BTC to top-up the trade to 2 BTC as "due to high volume trades we have increased the minimum".
After soul searching and reading stoner posts, Topped-up the 1.5 BTC as requested and BTC India reverted "it was strange it didn't go though... actually our systems needs you to transfer EXACTLY 2.0 BTC".
After a bit of back and forth, they said "we can request a refund if you'd like", after which they went dark.
I'm not one to defame others but if you're reading this, condsider yourself warned. The BTC India website is still up, and I intend to update this if things turn for the better. To anyone who's read this thread and intends to test the waters: No update = this was a total loss.
Just wanted to shout out that I personally got hit by this and was convinced by stoners version of events.
Reporting my experience, I initiated a 0.5 BTC trade but got a odd request to send an additional 1.5 BTC to top-up the trade to 2 BTC as "due to high volume trades we have increased the minimum".
After soul searching and reading stoner posts, Topped-up the 1.5 BTC as requested and BTC India reverted "it was strange it didn't go though... actually our systems needs you to transfer EXACTLY 2.0 BTC".
After a bit of back and forth, they said "we can request a refund if you'd like", after which they went dark.
I'm not one to defame others but if you're reading this, condsider yourself warned. The BTC India website is still up, and I intend to update this if things turn for the better. To anyone who's read this thread and intends to test the waters: No update = this was a total loss.
iam first about bitcoinindia org
new exchanger or old exchanger, because in coinmarketcap can't find about volume transaction
in there fiat money deposit and withdraw, all support payment procesor, transfer in bank(wire transfer), paypal, skrill and more or not
or only support paypal
i can see in there only exchange without trading
only exchange you must incraese your trust
new exchanger or old exchanger, because in coinmarketcap can't find about volume transaction
in there fiat money deposit and withdraw, all support payment procesor, transfer in bank(wire transfer), paypal, skrill and more or not
or only support paypal
i can see in there only exchange without trading
only exchange you must incraese your trust
I just checked Indian market bitcoin prices, I believe the prices are converging right now. Yes Indian market prices are getting slashed out maybe with the reason of heavy dump from local/international bitcoiners. Usuaally arbitrage trading opportunities are for short-term and this India based opportunity is almost getting finished off.
Yes, converging prices are symptoms of end of possibility of arbitrage trading. But right now Indian market are still trading with enough gaps to make use of. Preev shows $766.7 and Indian exchange unocoin shows prices equivalent of $828.29, more than $50 a good profits to book per one full bitcoin trading instantly. I cannot wait for that 10k paypal payment to be reversed
IF the payment was actually made, that is.
Screenshots can be faked and the OP seemed really interested in getting people to use that service.
Example of a faked screenshot:
I cannot wait for that 10k paypal payment to be reversed
The exchange opperators themselves would be doing the arbing if there is huge profit in it vs actually running the exchange. I did often wonder in the past if BTC-e did this.
Sceptical, domain just registered and only for one year...
Thank you for the useful information.I just checked Indian market bitcoin prices, I believe the prices are converging right now. Yes Indian market prices are getting slashed out maybe with the reason of heavy dump from local/international bitcoiners. Usuaally arbitrage trading opportunities are for short-term and this India based opportunity is almost getting finished off.
Sceptical, domain just registered and only for one year...
Code:
$ whois btcindia.org
[Querying whois.pir.org]
[whois.pir.org]
Domain Name: BTCINDIA.ORG
Domain ID: D402200000000757222-LROR
WHOIS Server:
Referral URL: http://www.enom.com
Updated Date: 2016-11-29T10:22:33Z
Creation Date: 2016-11-29T10:19:20Z
Registry Expiry Date: 2017-11-29T10:19:20Z
Sponsoring Registrar: eNom, Inc.
Sponsoring Registrar IANA ID: 48
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Domain Status: serverTransferProhibited https://icann.org/epp#serverTransferProhibited
Registrant ID: 579e6624edf2fc92
Registrant Name: Bit India
Registrant Organization: BTC TRADE INDIA
Registrant Street: 52/1, DESH BANDHU GUPTA MARG
Registrant City: NEW DELHI
Registrant State/Province: NEW DELHI
Registrant Postal Code: 110005
Registrant Country: IN
Registrant Phone: +91.9911746627
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email: [email protected]
Admin ID: 579e6624edf2fc92
Admin Name: Bit India
Admin Organization: BTC TRADE INDIA
Admin Street: 52/1, DESH BANDHU GUPTA MARG
Admin City: NEW DELHI
Admin State/Province: NEW DELHI
Admin Postal Code: 110005
Admin Country: IN
Admin Phone: +91.9911746627
Admin Phone Ext:
Admin Fax:
Admin Fax Ext:
Admin Email: [email protected]
Tech ID: 579e6624edf2fc92
Tech Name: Bit India
Tech Organization: BTC TRADE INDIA
Tech Street: 52/1, DESH BANDHU GUPTA MARG
Tech City: NEW DELHI
Tech State/Province: NEW DELHI
Tech Postal Code: 110005
Tech Country: IN
Tech Phone: +91.9911746627
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email: [email protected]
Name Server: DNS1.NAMECHEAPHOSTING.COM
Name Server: DNS2.NAMECHEAPHOSTING.COM
DNSSEC: unsigned
>>> Last update of WHOIS database: 2016-12-08T02:41:40Z <<<
[Querying whois.pir.org]
[whois.pir.org]
Domain Name: BTCINDIA.ORG
Domain ID: D402200000000757222-LROR
WHOIS Server:
Referral URL: http://www.enom.com
Updated Date: 2016-11-29T10:22:33Z
Creation Date: 2016-11-29T10:19:20Z
Registry Expiry Date: 2017-11-29T10:19:20Z
Sponsoring Registrar: eNom, Inc.
Sponsoring Registrar IANA ID: 48
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Domain Status: serverTransferProhibited https://icann.org/epp#serverTransferProhibited
Registrant ID: 579e6624edf2fc92
Registrant Name: Bit India
Registrant Organization: BTC TRADE INDIA
Registrant Street: 52/1, DESH BANDHU GUPTA MARG
Registrant City: NEW DELHI
Registrant State/Province: NEW DELHI
Registrant Postal Code: 110005
Registrant Country: IN
Registrant Phone: +91.9911746627
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email: [email protected]
Admin ID: 579e6624edf2fc92
Admin Name: Bit India
Admin Organization: BTC TRADE INDIA
Admin Street: 52/1, DESH BANDHU GUPTA MARG
Admin City: NEW DELHI
Admin State/Province: NEW DELHI
Admin Postal Code: 110005
Admin Country: IN
Admin Phone: +91.9911746627
Admin Phone Ext:
Admin Fax:
Admin Fax Ext:
Admin Email: [email protected]
Tech ID: 579e6624edf2fc92
Tech Name: Bit India
Tech Organization: BTC TRADE INDIA
Tech Street: 52/1, DESH BANDHU GUPTA MARG
Tech City: NEW DELHI
Tech State/Province: NEW DELHI
Tech Postal Code: 110005
Tech Country: IN
Tech Phone: +91.9911746627
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email: [email protected]
Name Server: DNS1.NAMECHEAPHOSTING.COM
Name Server: DNS2.NAMECHEAPHOSTING.COM
DNSSEC: unsigned
>>> Last update of WHOIS database: 2016-12-08T02:41:40Z <<<
They are paying a fuc**ng 10k INR more than the normal rate. That's around 20%
Due to the recent crisis with their currency notes, Indian bitcoin markets are trading around $950 price levels, so bitcoin prices are 20% higher in India than the rest of the world markets. That is the reason OP is discussing about arbitrage trading based on Indian markets and other markets. I guess it is not that easy as it involves fiats and dealing in fiat in India might attract more regulations from their government.
I already showed the screenshots fro the trade, but here it is again:
Why do you even mind if they call this website Scam ? I suspect you are the guy behind this
They are paying a fuc**ng 10k INR more than the normal rate. That's around 20%
No body is so generous dude
Edit : Also site looks very basic and Cheap which makes it look even more scammy
I already showed the screenshots fro the trade, but here it is again:
And the PayPal payout:
And the transaction ID:
https://blockchain.info/tx/2a9b2731e7f4a64a8942d74400ff700ca253162725dcddd74596147a17c98b59
Once again people, read the thread before commenting, they offered me a bank transfer instead of a paypal transfer, i simply chose paypal myself.
"The address mentioned on that site is 10 mins away from where I live.
So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it."
In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned).
My experience was a pleasant one, so my review still remains positive.
The fact, you have gotten away with your first transaction is no guarantee, the next would be all said and done. from experience, they won't strike yet, until a good number of gullible people are off their guard.
you can change from X coin to Y coin to Z coin and back to X coin where you make arbitrage income thanks to it.
It is completely new thing to me. So far I have tried arbitrage trading across exchanges but with your way of suggestion, I guess if I study in depth the price fluctuations I may get chances to trade within exchanges. In first read I could not understand your idea but now I am realizing it's potential and how often it will be possible.
I have seen these kinds of opportunities since I have been interested in bitcoin. To me it is actually easier to have altcoin exchanges where you can change from X coin to Y coin to Z coin and back to X coin where you make arbitrage income thanks to it. No big deal as I usually do not prefer to trade with fiats, it is always riskier.
"The address mentioned on that site is 10 mins away from where I live.
So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it."
In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned).
My experience was a pleasant one, so my review still remains positive.
Can you provide with proof of payment? Transaction id and transaction picture?
I doubt to your India exchange site you mentioned, because the site looks like copy-cat, I ever see the interface, system even min.deposit is have a same amount.
This is such an obvious scam it's not even worth to go deeper into the analysis
"The address mentioned on that site is 10 mins away from where I live.
So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it."
In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned).
My experience was a pleasant one, so my review still remains positive.
"The address mentioned on that site is 10 mins away from where I live.
So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
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