btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds - page 149.

micers

newbie

Activity: 24

Merit: 0

Quote from: manort on April 17, 2014, 08:40:38 AM

This is part of the problem with Bitcoin and one of the things we have to fix. Too many scams; too much uncertainty. I have a small investment on arbs and have been watching it grow with a gimlet eye. I was kind of thinking they would have a longer run than this, though. I agree with the commenters who say they'll leave BTC in if the site comes back. It won't prove they're honest, but if they are honest, this might encourage them to step up their game.

I'm curious about how much is at stake here. I'd ask everyone reading to post how much BTC or fiat they had sent. Please don't include any 'earnings,' only your principle investment.

Cheers, and luck to all of us.

Beginning of March I asked the admin for a ball park estimate of the total number of coins the site managed. He said less than 5000. I'm guessing that maybe that many were at stake.

I'm inclined to trust the intentions of the site owner; however, I am worried about the competence of the team running the site.

Hostgator did indeed start having trouble yesterday at the same time that btc-arbs.com started having issues. Hostator *reports* that they have fixed nearly all their issues but the latency to their data center is still running around 250 ms from my location.

Meanwhile the 500 internal server error has cropped up.

I am also troubled by the fact that btc-arbs.com's staff is nowhere to be heard from... Effing update us. You have our email addresses, do a bulk send and get some info out here.

sluppy

legendary

Activity: 2020

Merit: 1041

Quote from: Vilepickle on April 17, 2014, 08:19:06 AM

Quote from: NLNico on April 17, 2014, 08:15:38 AM

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

You'd think with 10 employees that they'd have some better contact method

I am not sure if you are sarcastic. But you realize they don't actually have 10 employees, right? xD

I'd say like 5 "employees", tops.

Web "Developer"
Server guy who hasn't woken up yet after the 500 error cropped up
Adam as support
Guy who made the arbitrage script
Swiss banker contact

more like one guy in a basement.
or now tropical island with an umbrella drink.

vipgelsi

legendary

Activity: 1736

Merit: 1001

Looks like this might be a scam after all hopefully you guys get your bitcoins back I did not put any in this site but I almost did. I did register a account but never funded. I picked bitcoin-trader.biz and hopefully I won't get scamed there.

y80

full member

Activity: 145

Merit: 100

Quote from: manort on April 17, 2014, 08:40:38 AM

This is part of the problem with Bitcoin and one of the things we have to fix. Too many scams; too much uncertainty. I have a small investment on arbs and have been watching it grow with a gimlet eye. I was kind of thinking they would have a longer run than this, though. I agree with the commenters who say they'll leave BTC in if the site comes back. It won't prove they're honest, but if they are honest, this might encourage them to step up their game.

I'm curious about how much is at stake here. I'd ask everyone reading to post how much BTC or fiat they had sent. Please don't include any 'earnings,' only your principle investment.

Cheers, and luck to all of us.

Well I still don't see any change. I noticed the problem last night and it gradually became the 500 internal server error message. It hasn't changed since then and it's still giving the same error.

Bestinvest

newbie

Activity: 25

Merit: 0

Quote from: Vilepickle on April 17, 2014, 08:51:53 AM

Bitcoin-trader.biz is the other arbitrage site and I'd say they are doing vastly better with PR than btc-arbs. Arbitrage isn't a scam, it is real, it's just the players doing it that could be or could not be legitimate. In the future I can see more arbitrage services popping up and the exchange prices will eventually get closer together more quickly.

That's why arbitrage requires very fast computers and Internet connections on Wall Street... there are a lot of people fighting for the arbitrage rate and the fastest computers get the transaction. In Bitcoin this isn't so, you see the exchange rate way different on Bitstamp/BTC-E all the time.

I agree with you, bitcoin-trader.biz looks much more serious and organized and that is the reason I invested there some BTCs over a month ago. It is true they have lockout period for 120 days, but there was no single problem regarding deposits/withdrawal since November, when they started their business. They also have a mining pool where you can invest also.

If anyone want to try it out feel free to use my referral link: https://bitcoin-trader.biz/?ref=Duhsasekirom

Vilepickle

member

Activity: 76

Merit: 10

Bitcoin-trader.biz is the other arbitrage site and I'd say they are doing vastly better with PR than btc-arbs. Arbitrage isn't a scam, it is real, it's just the players doing it that could be or could not be legitimate. In the future I can see more arbitrage services popping up and the exchange prices will eventually get closer together more quickly.

That's why arbitrage requires very fast computers and Internet connections on Wall Street... there are a lot of people fighting for the arbitrage rate and the fastest computers get the transaction. In Bitcoin this isn't so, you see the exchange rate way different on Bitstamp/BTC-E all the time.

manort

newbie

Activity: 27

Merit: 0

This is part of the problem with Bitcoin and one of the things we have to fix. Too many scams; too much uncertainty. I have a small investment on arbs and have been watching it grow with a gimlet eye. I was kind of thinking they would have a longer run than this, though. I agree with the commenters who say they'll leave BTC in if the site comes back. It won't prove they're honest, but if they are honest, this might encourage them to step up their game.

I'm curious about how much is at stake here. I'd ask everyone reading to post how much BTC or fiat they had sent. Please don't include any 'earnings,' only your principle investment.

Cheers, and luck to all of us.

jagemo

member

Activity: 110

Merit: 10

Quote from: nightengale on April 17, 2014, 08:28:06 AM

So far btc-arbs has worked out better than my NEOBEE investment... Grin

If they come back up, I'm leaving my funds where they are. I knew all along that my coins could disappear at any time, so if the site comes back up it stands to reason they are committed to continuing this thing and withdrawal just doesn't make sense. If you're itching to get your coins out that badly after this, btc-arbs was probably not the right place to be putting your money to begin with.

2nd that...
If problems are solved and funds are there, it's only proof they are not scamming... If they are scamming, there will be nothing to withdraw, but if it is still there, i will leave it there ... Al 6 of my Bitcoins

dreamlucky

newbie

Activity: 56

Merit: 0

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

I haven't found an official Twitter account, email address, or Facebook page for them of any sort. Their marketing seems to be limited to forums and press stories via other websites. You'd think with 10 employees that they'd have some better contact method, but making money from arbitrage is probably more concerning to them.

Support tickets are nice, but it only applies when the site is up!

Yeah I agree would be nice if arbs had a twitter account. The Hostgator outage can be seen by following @hostgator. But again the outage timeline falls inline with the Hostgator outage exactly.

nightengale

hero member

Activity: 574

Merit: 500

So far btc-arbs has worked out better than my NEOBEE investment... Grin

If they come back up, I'm leaving my funds where they are. I knew all along that my coins could disappear at any time, so if the site comes back up it stands to reason they are committed to continuing this thing and withdrawal just doesn't make sense. If you're itching to get your coins out that badly after this, btc-arbs was probably not the right place to be putting your money to begin with.

NLNico

legendary

Activity: 1876

Merit: 1295

DiceSites.com owner

Quote from: vach on April 17, 2014, 08:17:22 AM

Quote from: NLNico on April 17, 2014, 08:15:38 AM

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

You'd think with 10 employees that they'd have some better contact method

I am not sure if you are sarcastic. But you realize they don't actually have 10 employees, right? xD

Be honest you did have some BTC there ? Cheesy

No, honestly I never considered putting any satoshi in, since it looked as a ponzi to me since the beginning. But it's too tempting to reply every time when this topic pops up in my watchlist Tongue

I have been calling this site ponzi many times but I think I mostly suggested fair arguments, so up to the rest to make up their own opinion.

Just the fact that everyone seems to agree that the 10 employees and the Geneve office is a blatant lie, but "still they are trustworthy with my money" amazes me. And that's only 1 reason to think they are a ponzi.

Vilepickle

member

Activity: 76

Merit: 10

Quote from: NLNico on April 17, 2014, 08:15:38 AM

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

You'd think with 10 employees that they'd have some better contact method

I am not sure if you are sarcastic. But you realize they don't actually have 10 employees, right? xD

I'd say like 5 "employees", tops.

Web "Developer"
Server guy who hasn't woken up yet after the 500 error cropped up
Adam as support
Guy who made the arbitrage script
Swiss banker contact

vach

full member

Activity: 237

Merit: 100

Quote from: NLNico on April 17, 2014, 08:15:38 AM

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

You'd think with 10 employees that they'd have some better contact method

I am not sure if you are sarcastic. But you realize they don't actually have 10 employees, right? xD

Be honest you did have some BTC there ? Cheesy

NLNico

legendary

Activity: 1876

Merit: 1295

DiceSites.com owner

Quote from: Vilepickle on April 17, 2014, 08:13:24 AM

You'd think with 10 employees that they'd have some better contact method

I am not sure if you are sarcastic. But you realize they don't actually have 10 employees, right? xD

Vilepickle

member

Activity: 76

Merit: 10

I haven't found an official Twitter account, email address, or Facebook page for them of any sort. Their marketing seems to be limited to forums and press stories via other websites. You'd think with 10 employees that they'd have some better contact method, but making money from arbitrage is probably more concerning to them.

Support tickets are nice, but it only applies when the site is up!

dreamlucky

newbie

Activity: 56

Merit: 0

Quote from: vach on April 17, 2014, 07:57:23 AM

Quote from: dreamlucky on April 17, 2014, 07:09:35 AM

Big outage still affecting our website and hopefully the only reason arbs is down. http://www.ibtimes.com/hostgator-bluehost-are-down-due-eig-outage-1523952

Dude its December 2013 why did you post it?

My mistake, but we have a website hosted through Hostgator and it went down mid yesterday came back a few times but has remained down most of the time including right now. Check twitter lots of people affected by the current Hostgator outage.

I'm just hoping I having lost my btc even though I do know I took the risk.

vach

full member

Activity: 237

Merit: 100

So there is no way we can find out who is behind this?

Vilepickle

member

Activity: 76

Merit: 10

I received a message from Adam yesterday before it went down about a withdrawal and it seemed like everything was fine. Obviously their server is having problems.

A 500 error happens when something like SSL or Apache gets misconfigured. It wouldn't be surprising if the DNS problems triggered an error and a service just needs to be rebooted. These guys seem to respond from noon to 6PM EST mostly, so they may have just not known about the problem or are trying to get it fixed. From my tickets with Adam he is not the technical person and he was working with others to get the server fixed for Heartbleed. I'm guessing they were updating OpenSSL on the btc-arbs.com server and/or the DNS server and something went wrong.

This is all optimistic, but the fact that people have been able to withdraw funds when the site was up during the problems is promising. Also, I was able to visit the IP yesterday and they had already posted Wednesday's results.

In short, calm down. Arbitrage won't have all of your funds stored on a server so even if it was attacked I doubt anything is gone. That's why large withdrawals take 36 hours, they have to pull it out of arbitrage and manually send it.

vach

full member

Activity: 237

Merit: 100

Quote from: dreamlucky on April 17, 2014, 07:09:35 AM

Big outage still affecting our website and hopefully the only reason arbs is down. http://www.ibtimes.com/hostgator-bluehost-are-down-due-eig-outage-1523952

Dude its December 2013 why did you post it?

Monty-Python

member

Activity: 63

Merit: 10

@crystalsongmist

My comment was not pointed directly at you. I was just quoting you as it was the n-th question on the last four pages. Wink

I didn't know this thread until yesterday until the issues started. From that perspective it was far too late to get my money out. And yes, I did read the last 4/5 pages of this thread to get the latest information. Wink

I was still able to initiate a withdrawal though while the website was still working with Tor though. As I said earlier: If it's gone, it's gone - if it shows up on my wallet, I am fine with it, too. Cheesy

Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds - page 149. (Read 276958 times)