Topic: bitscalper anyone use this ? [PASSWORDS LEAKED] - page 27. (Read 40963 times)
withdraw it while you can
Well if it's legitimate they are inept. I'm still collecting bitcoins and I already withdrew everything.
i.e its not legitimate.
Same here, earning money from a zero balance i.e its not legitimate.
Well if it's legitimate they are inept. I'm still collecting bitcoins and I already withdrew everything.
i.e it's not legitimate.
i.e it's not legitimate.
Seems a bit too risky for me but if they are doing arbitrage (which is implied with their methodology) then it could very well be legitimate.
With the cap at 5% any profit over this would be theirs so that would be their profit margin. However they would not be able to guarantee balances so this is why it seems fishy and I wont be depositing one Satoshi either. From what I see was earned yesterday I earned about 12% yesterday with the market fluctuations so it appears I am doing better on my own.
With the cap at 5% any profit over this would be theirs so that would be their profit margin. However they would not be able to guarantee balances so this is why it seems fishy and I wont be depositing one Satoshi either. From what I see was earned yesterday I earned about 12% yesterday with the market fluctuations so it appears I am doing better on my own.
got like 0.01 btc's as my interest for the 0.5 btcs i threw in for fun yesterday. Seems okay so far, will comment after withdrawal success.
got my initial deposit out again without problem, but obvious manual payout. Now working with winnings. 1 btc so far. (0.94 
Of course its a scam. Im not gonna put even one satoshi in there.
this is such an obvious scam!!! They don't even have to have a bot running, all they need is some initial capital and then pay people others people money until a critical mass is finally reached and they can run away with it all.
If they really did have a bot, there'd be lots of options and similar stuff that you could tweak yourself to reduce or increase risk. A good example of this is https://dnnbitcoin.aricie.com/ . Also if they had a bot that was this profitable, there's no way they'd share it publicly because it would immediately destroy the market inefficiency, and they would only have earned 2% of the profits.
If they really did have a bot, there'd be lots of options and similar stuff that you could tweak yourself to reduce or increase risk. A good example of this is https://dnnbitcoin.aricie.com/ . Also if they had a bot that was this profitable, there's no way they'd share it publicly because it would immediately destroy the market inefficiency, and they would only have earned 2% of the profits.
Has anybody checked if the BTC they deposit in their address is actually moved out of that address?
Mine moved day after I deposited them: http://blockexplorer.com/address/1FzfZ4znq5E5VmJJFQaRLSuB59NuZeZHw1
Has anybody checked if the BTC they deposit in their address is actually moved out of that address?
That a reply to my post?
Both me and the last person to post on this thread are getting about, although somewhat to either side of 1 in 200 of the input money each day. Isn't this just similar to how banks interest feature functions?
So If I wanted £40 per day then I would need £8,000 in the account.
If this isn't a scam will this lose effectiveness as others descover how it is done?
How some talk about trading bitcoin then perhaps a profestional trader or bot could make money conistantly like this anyway.
If I profestional trader or bot couldn't consistantly make money like this anyway, then itsn't it all just an upper class form of gambling.
So If I wanted £40 per day then I would need £8,000 in the account.
If this isn't a scam will this lose effectiveness as others descover how it is done?
How some talk about trading bitcoin then perhaps a profestional trader or bot could make money conistantly like this anyway.
If I profestional trader or bot couldn't consistantly make money like this anyway, then itsn't it all just an upper class form of gambling.
My first 1 BTC scalped:
Too much risk. You will loose bitcoin in a bear market like today - when both exchanges are moving down.
I sell 100 BTC for $6.5 on exchange 1 and at the same time buy 100 BTC for $6.4. I only make these trades based on existing orders with a minimum profit to cover rebalancing the funds. I just made $10 with only seconds of price vulnerability. I don't how I could lose BTC unless I got ridiculously unlucky. I've even done it by hand a few times. If you have to wait for the funds to rebalance in between trades there is risk, but if you only trade when you have funds ready to go on both exchanges you can do well when one market moves strongly.
The problem here is that you have to hold fiat while you wait for an arbitrage opportunity. While you're waiting, your fiat could loose value against bitcoin. Who takes that loss?
If you have investors who provide you with USD, or you have USD working capital, both currencies grow.
Too much risk. You will loose bitcoin in a bear market like today - when both exchanges are moving down.
I sell 100 BTC for $6.5 on exchange 1 and at the same time buy 100 BTC for $6.4. I only make these trades based on existing orders with a minimum profit to cover rebalancing the funds. I just made $10 with only seconds of price vulnerability. I don't how I could lose BTC unless I got ridiculously unlucky. I've even done it by hand a few times. If you have to wait for the funds to rebalance in between trades there is risk, but if you only trade when you have funds ready to go on both exchanges you can do well when one market moves strongly.
The problem here is that you have to hold fiat while you wait for an arbitrage opportunity. While you're waiting, your fiat could loose value against bitcoin. Who takes that loss?
yeah but then you lose 6 of those 10 dollars to commission
Too much risk. You will loose bitcoin in a bear market like today - when both exchanges are moving down.
I sell 100 BTC for $6.5 on exchange 1 and at the same time buy 100 BTC for $6.4. I only make these trades based on existing orders with a minimum profit to cover rebalancing the funds. I just made $10 with only seconds of price vulnerability. I don't how I could lose BTC unless I got ridiculously unlucky. I've even done it by hand a few times. If you have to wait for the funds to rebalance in between trades there is risk, but if you only trade when you have funds ready to go on both exchanges you can do well when one market moves strongly.
This is literally what it says on my account. I deposited some coins, withdrew them right away after getting spooked, but kept on accumulating "interest" anyway. Then I went ahead and withdrew that. Now I got this. Definitely a ponzi.
Lets assume for a moment that this is legit. What kind of scalping algorithms could preserve the value (low risk) and also yield such high returns? In order to preserve the value you could not convert into other currencies for more than a few seconds. The longer you hold other currencies, the more risk you incur. Selling on one exchange and transferring fiat to another exchange seems out of the question. Holding fiat and waiting for buying opportunities imo is an unacceptable risk, and would never work in a bull market.
So here is one profit scenario.
Scenario 1
There is a large sell order executed on Gox. Since you have access to smaller exchanges where the price lags, you immediately sell there, wait for the price to begin moving to catch up with Gox, then quickly buy back (before your exposure goes up). The move must be great enough to close the spread and then some (in a short enough time frame). You will have to know what typical lag times are on that exchange and be able to beat them.
Scenario 2
When there is an upward spike on one of the smaller exchanges, you sell and then quickly buy back as the price comes back down.
Note:
Both these scenarios produce a net downward pressure on the market.
Both these scenarios assume that the price will gravitate rather quickly toward the Gox price. They also assume you have access to fast apis on the smaller exchanges. Which exchanges have fast apis? Tradehill?
And this perhaps begs the question. Does the designer of bitscalper have exclusive access to a fast api on a smaller exchange.
EDIT: I thought scalping was synonymous with arbitrage.
So here is one profit scenario.
Scenario 1
There is a large sell order executed on Gox. Since you have access to smaller exchanges where the price lags, you immediately sell there, wait for the price to begin moving to catch up with Gox, then quickly buy back (before your exposure goes up). The move must be great enough to close the spread and then some (in a short enough time frame). You will have to know what typical lag times are on that exchange and be able to beat them.
Scenario 2
When there is an upward spike on one of the smaller exchanges, you sell and then quickly buy back as the price comes back down.
Note:
Both these scenarios produce a net downward pressure on the market.
Both these scenarios assume that the price will gravitate rather quickly toward the Gox price. They also assume you have access to fast apis on the smaller exchanges. Which exchanges have fast apis? Tradehill?
And this perhaps begs the question. Does the designer of bitscalper have exclusive access to a fast api on a smaller exchange.
EDIT: I thought scalping was synonymous with arbitrage.
Scenario 3
Have BTC and USD on two exchanges. When price is higher on exchange 1: sell on exchange 1, buy on exchange 2. When price is higher on exchange 2: sell on exchange 2, but on exchange 1. Rebalance the USD/BTC as necessary.
Too much risk. You will loose bitcoin in a bear market like today - when both exchanges are moving down.
This thread sounds like it should belong in the Gambling subsection 
edit: placed 0.509~ btc left over from pool to bitscalper just to see the effects
edit: placed 0.509~ btc left over from pool to bitscalper just to see the effects
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