You guys are defending a site that locks you in for 120 days? In 20 years of trading that is the shadiest thing I've ever heard of! (My trading includes stocks, options, ETFs, etc.) I actually considered trying bitcointrader.biz, but was too put off to try.
Both bitcointrader.biz and btc-arbs.com are equally poor about revealing trades or basic information, which really brothers me too. However arbitration trading and mining are completely unrelated but I have seriously wonder about it. Bitcointrader.biz seems much more likely to just be a Ponzi scheme with its 120 day lock-ins and results that don't seem to jive with what is going on in the market. Even the mining results pay far to much to be real. The share concept is another way things can be hidden, seriously if you are doing arbitration trading you need both bitcoin and currency. Converting everything to currency is wasteful at best and at worst deceitful.
In the end, bitcointrader.biz is far to shady for my money. The only thing they have going for them is that they have been around a lot longer.
Both bitcointrader.biz and btc-arbs.com are equally poor about revealing trades or basic information, which really brothers me too. However arbitration trading and mining are completely unrelated but I have seriously wonder about it. Bitcointrader.biz seems much more likely to just be a Ponzi scheme with its 120 day lock-ins and results that don't seem to jive with what is going on in the market. Even the mining results pay far to much to be real. The share concept is another way things can be hidden, seriously if you are doing arbitration trading you need both bitcoin and currency. Converting everything to currency is wasteful at best and at worst deceitful.
In the end, bitcointrader.biz is far to shady for my money. The only thing they have going for them is that they have been around a lot longer.
Man, come on... you claim to have 20 years of trading. Sorry, I actually have 3 FOR REAL and comparing stocks, options, ETF and such with BitCoin arbitrage is like trying to find a match between whales and watermelons.
The products you mentioned earn a commission to the provider, he/she is not actually using your money to make a profit just "dealing paper for cash and viceversa". They do not care if you buy thrash or gold. Commissions, commissions, commissions. Win-win.
As a veteran you should have mentioned bonds that, guess why, only pay nominal value at maturity because the company actually needs the money to operate. They are doing (claim) arbitrage on borrowed money, not having a lockdown period is SHADY AS HELL.
A simple example: btc-arbs pays interest at a specified time of day. I could deposit cash ten minutes before and withdraw with ~1-2% interest ten minutes later
The mining results pay too much?? Sorry again, but at current market juncture no one is buying mining shares anymore because their current break even is at 200+ days. And that will worsen over time as difficulty increases and CoinTerra/Knc throw PHs around in June and July. Bitcoin Trader Inc. offers mining shares to people who don't want to risk a negative return of investment.
Ah, for what its worth: http://www.scamadviser.com/check-website/btc-arbs.com
Cheers
(I actually paid for private schools for my kids by trading options for multiple years.)
Saying not having a lockdown is shady is total nonsense. The way it typically works with not traded funds is that withdraw requests are processed at the end of a trading day. I could see something like fiat withdraws taking up to a week while bitcoin would be processed right away after the trading is done. That is if you are talking about how money really flows. Also there are active markets for bonds, they don't have to be held to maturity so I don't have any idea what your comment means.
Lockdowns are never for the investor benefit and the only place I've actually ran into them is like employee 401k plans where companies are trying to discourage trading. The fact that bitcointrader.biz uses them suggests they are being shady or are very poor at money management. Coupled with the that is they don't cover the trading 24x7 and bitcoin is a 24x7 market. These point to this not being a real operation. It simply isn't possible to cover bitcoin arbitrage in normal working hours. Coupled with the share approach it is all very strange.
That doesn't mean that btc-arbs.com is real either, however its behavior is more closely matched with real arbitrage trading. Both sites could both be scams or both could be legit. I just find bitcointrader.biz to be much more shadier of the two.
Oh and you are incorrect about the way deposits work at btc-arbs.com, typically it takes many hours before the deposit shows up in your account. You can't be sure if the money was used or not, but they are just distributing gains anyways. Not all money is used every day and some money will be used multiple times in a day. It just depends where the money is and what opportunities exist.
