Topic: bitscalper anyone use this ? [PASSWORDS LEAKED] - page 14. (Read 40999 times)

I have written a thread about BitScalper and I highly advise that everyone read it.

https://bitcointalksearch.org/topic/bitscalper-risk-level-61505

TL;DR:

Do not let this community suffer through another MyBitcoin. Let's kindly and quietly raise our standards and show these so called 'businesses' how it's done.

And there was much rejoicing.

We're currently refactoring the whole code in favor of a faster platform. Will update the thread very soon!

hehe , you were one of the brave ones. 
funny how almost everybody yelled SCAM SCAM from day 1 but still put in their coins just in case its legit...

Well I put in 150 BTC, got out 155, and am now playing with profits and have an extra 10 BTC in there so even if they run with my money I'm satisfied

I do this calculation for two weeks now, recording what their (stated) total investment is, exactly the way quoted.
Interestingly, it doesnt work up at all:

I began with 10 BTC, gained up to 11.5, withdrew 10 BTC and left the remaining there.
When my balance was reduced, the payout for me went tenfold, compared to the total earnings from the counter.
Or, the other way round: The amount I invest directly influences the amount I will get paid out.

I check every other hour if the counter on the frontpage changed. If it did, I note down the counter and my balance at that time. Here the numbers:


There are so many proofs and ever open questions stated now showing BitScalper is a scam.
It tells a lot they seem to have gotten (or try to make us believe?) 16k Bitcoins from greedy users, huh?

Ente

I really dont focus much on the withdrawal page except for my own transactions. Many of these huge BTC withdrawals could just be their own BTC they keep transfering to make it look attractive to deposit big amounts of BTC.

That said I am not calling them a scam, I am making profit with bitscalper and the withdrawals do get processed quite fast however its allways important to be semi-sceptical with alot of information displayed as public trust information.

I call on bitscalper to release the total amount in deposits, a correct daily percentage yield for the entire deposited amount, and the size of their share of the profits.

I don't know.  9,600 BTC invested does not sound to far fetched to me. With a few people putting 300+ BTC, even more putting in 100+ and everyone else, it could easily add up.
Look at it this way. Do you think the scalper has had at least 1000 deposits?

From the start I felt they do take a different cut other than the 1.75% withdrawal fee as their profit. This however doesnt bother me since if it remains running and remains paying out without stealing users coins, its still free coins to anyone investing.

That said if they want to be on face value 100% honest with the community it probably would be wise to display their actual gains compared to payouts.

i take the bet, if you can add me in skype or contact me per email

i think they do like a bank does - keep the deposits, claim it's paying but rely on people not to withdraw so it builds.

Let's place bets on when it fails

1btc at 1:6 says it still works in 30 days time

Nice post, next time please add value to the discussion.

Another 18 pages on the power of Greed - boring. Time to get locked methinks.

I think that's implied in their FAQ where they say "maximum 5% daily". So they might make 10-15% on their trades, but they're only promising their users a MAXIMUM of 5%.

They -COULD- be making 100 BTC profit per trade and only distributing 1 BTC among all their buy-ins. The lack of transparency is not clear. They say the only money they make is off the 1.75% on withdraw... but without more transparency, there's no way to be sure.

All I can say for sure is that this hasn't proved to be a scam. Yet.

Mmm you automaticly assumed the update on the scalped coins means that is being distributed to the users? What makes you think they dont take a cut from the scalped coins thats part of the update on the site.

I dont know why anyone would keep their money in there after the server was down for 3 days.

The use of bitcoin makes people cautious for good reason.  After you give someone your bitcoins you are at their mercy to give them back.  I think one of the pitfalls of bitcoins is the license it was released under.  Bitcoin is released under the MIT Open Source Initiative License, which basically means that any modification or distribution of Bitcoin needs to also be released under the MIT License and free or charge to anyone.

The reason I see this is a problem is that it fails to also necessitate the use of open source guidelines with the use of Bitcoin in other applications or services.  Take for example Bitscalper.  Here is a service that uses Bitcoin.  I have no problem Bitscalper using Bitcoin to make a profit, but I believe any use of the Bitcoin software should require that the source of any 3rd party platforms be open and publicly available.

Even if a service that uses Bitcoin is completely legitimate, bitcoins could still be lost.  Just look at BTCinch.com with one of the managers refusing to release bitcoins.

The reason why people don't trust fiat currencies is because they are closed.  All the decision making goes on behind closed doors and the minutes are not released to the public for years.  We have trust in Bitcoin because it is open source.  There is a set determined rate of inflation and we can see all the transactions that occur.

Bitcoins cannot be charged-back in case of fraud.  It is also an international currency market.  For this reason trust and reputation is the cornerstone of a Bitcoin service.  I see no reason to trust a Bitcoin service with a closed system when my trust in Bitcoin comes from its openness.

Looks like Tradehill is the only exchange BitInstant can automatically deposit USD.
https://www.bitinstant.com/api

Mtgox email coupon code does not sound instant to me.

I doubt there is 70000$ worth of  coins there....  maybe I'm wrong