Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds - page 166. (Read 277012 times)

I got the reply, here it is >> I copy and paste:


From   administrator
Sent on   April 01st 2014
We are in the midst of improving our outside of the site contact functions. I anticipate posting improvements in the near future. One of the issues with e-mail is we get a crazy amount of spam through it.

Adam


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Qwiner on 01/04/2014 07:37:38
Hi,

I have heard a lot of errors about your site, in relation to your FORGOT PASSWORD + CONTACT US function. Many of the users are complaining that they use those functions, and fill out the form. But the queries were never answered.

I do understand that when users have queries, btc-arbs will always answer user's queries through user's SUPPORT ZONE.
Is there an alternative way for user to contact btc-arbs, without accessing their account? eg. when users have forgotten their password. As btc-arbs never answer user's queries through the user's email.

If so, this means that, at btc-arbs.com, means that if forget your password, U will lost your account forever?

Reply


As his reply did not really answer my question, so I did another reply to this support ticket, see what he will say for users who forget their password,  how can they recover their account

I don't think the referral bonus carries on beyond one level.

Plus it talks about the prices in the 500's when it should be 400's. Typo?  

I sent in a support ticket asking about including the transaction ID in the transaction details for withdrawals and Adam responded, saying: "We will look into adding this, though it may be slightly more complicated with the whole transaction malleability thing." I responded that the new bitcoin qt wallet 0.9 takes care of TM, but no answer several days later.

What's to stop someone from making ten accounts, all referring to one another in a line, and picking up extra interest?

It's all just so sketchy. It's like that feeling you got trading at cryptorush. Idk. I pulled out my initial investment and am playing with house btc.

There's also the TRUNC function.  

Another issue: on the interest for April 1st, the interest is given as 1.05%.  But in the report, it says that "Today's result is 1.045%". 

yep but you have to but off the decimals past the fourth digit. So no rounding.

best way to do that is int(amount *10000)/10000

How do you calculate this?

I do: new_balance = old_balance x (1 + percentage/100)

I don't know if you realized, but what you posted is about Bitcoin Trader, not BTC Arbs.  Is this related to BTC Arbs in any way? 

Ditto to that.  It always matches up (except for the referral earnings).

People aren't likely to trust someone who just joined.  And there wasn't a way for us to know about your bitcoin mining.

It's not intuitive, but on the site did you click the button confirming the BTC had been sent? You have to tell them how much you're going to send, send it, then confirm that you sent it. All of my deposits have confirmed in < 24 hours.

DNS_PROBE_FINISHED_NXDOMAIN

I gave it a chance after reading and sent 0.5 BTC 24 hours ago.
I still see 0 as my bit-arbs balance.
Is that common?

I get consistent results.

I keep a spreadsheet with all the movement and percentages and they always come out exactly as on the site.

Maybe there is something wrong with your calculations.

I tried to start deposit-procedere of some $ via bank wire (to find out their account data, not to really transfer money). Theres was this message, that i get contated by them within 24 hours, but nothing has happened till now, 2 days past. Has anyone of you their bank wire data?

Its seems that their daily gains aint consistent compared to my own calculations of my interest. I get more bitcoins than i expected.

Got this email from bitcoin-trader.biz today.


Bitcoin Trader is pleased to announce the launch of our Spanish and Italian webpages.

At Bitcoin Trader we believe that providing the best service to our clients and prospective clients is of the highest importance. It is of essence that the client understand everything he/she needs to know about our business and what we have to offer. Getting this information in one's native tongue will ease this process.

Currently a Portuguese version is in the make, that should be available within two weeks. We estimate that our Russian and German webpages will be online by the end of April.

Please note that due to the nature of our web app, currently only frontend pages can be translated.
 
    
    
The current state of Bitcoin
 
    

We've hit the lowest price so far in 2014; one Bitcoin is now worth about half its value compared to three months ago, as the market is still searching for a bottom. Many expect the bottom to be around USD 400 and the order books of some of the exchanges seems to confirm this prediction. Bitstamp alone has bids for 5000+ Bitcoins in the region of USD 400 ± USD 5 at the time of writing.

We must also consider that the current market is highly manipulated by a very few high volume traders who are taking full advantage of the current situation. I can't blame them, it's part of cryptos in general, but I would like to have a bit more stability in the market. In addition the few exchanges we have are acting sometimes kinda surreal. I give you an example, by quoting a recent comment I read on Coindesk:

"These exchanges make no sense to me. Buy .25 bitcoin, price goes up $.75. Buy 12 bitcoin and price goes up $.05. Makes no sense to me."

I totally agree with this guy - he is right. I have observed such bizarre market movements many times, despite any indication why it is moving this way or that way, i.e. low or high trade volumes at the time of the trade etc.

Bitcoin is still creating massive controversy in the media. Often about its risks, dangers, and dubious mainstream appeal. On the other side we have good news as well, plenty of good news to be frank: More and more large retailers are accepting Bitcoin for purchases. In The Hague [Netherlands] a joint initiative of restaurants and pubs led to the 'Bitcoin Boulevard' a street where all joints in the street are accepting Bitcoin. Almost every day somewhere a Bitcoin ATM is going into service. The IRS "property" classification for Bitcoin reaffirms it's status as digital gold. To name just a few examples.

No doubt, Bitcoin is becoming mainstream and I am bold enough to argue that the current Bitcoin price is undervalued - if not a joke!
 
    
    
Trading update
 
    

While trading went well for most of March, we had the first loss day in over three months last week. The reason was very slim spreads among all exchanges during Bitcoins 'free fall' and thus existing opportunities expired before our trades concluded.

The chart below taken from Coindesk, our official Bitcoin Price Index source, is illustrating how close the exchanges are currently.



The spreads between the exchanges remain very slim since, but we are confident that we can still deliver around 20% earnings per month, even if the situation remains unchanged.
 
    
    
Mining update
 
    

While price hikes and drops are good for arbitrage trading, mining with the ever increasing difficulty needs a stable and gradually increasing Bitcoin price.

Unfortunately Bitcoin lacks any fundamentals that anchor the Bitcoin price, as there are for most assets, despite the high costs of mining equipment and the recurring costs of electricity. Anchors that are factored in the prices of natural resources like oil, gas, gold or diamonds for example.

As from tomorrow the hashing rate per share will be increased to 10 GH/s per share. We remain confident that our mining shares will remain profitable in the months to come.
 
    
    
Join our Social Network
 
    

Bitcoin Trader has a social networking presence on Facebook, Twitter and Google+. Our official pages keeps you updated with daily results, news and important announcements.

We recommend to all our clients to join at least one of our online communities to keep yourself informed and updated about our services.

Thanks for reading and our warmest regards,
John Carley
 
 
 
Copyright © 2014 Bitcoin Trader - All rights reserved.
 

Let's see ... took me 16 days to mine my last bitcoin, what does that have to do with anything here?   I lurked for months before I joined and when I did join it sure wasn't to share my opinion about someone else's posts.   Well that isn't 100% true, I was pretty fed up with all the nonsense people were posting about possible bitcoin 51% attacks, but that was a topic not a person.   I do tend to tangle with people so I have to curb myself often.    However, the only clear message I saw in your posts was that you were enjoying hounding someone and now I'm getting abusive so I'll stop.

   

* I live in Tokyo which is probably more expensive than Geneva and there are plenty 10+ people companies in very expensive parts of town that get by working out of an apartment.   Location isn't really a serious cost factor.   

* 1% daily is higher than they have been doing, at least in March.   But let's go with you 3778% ROI, for $500 that works out to $19,000 not $1.9 million.    If they are real, the gains will get lower as the market gets mature, but they should stay positive.   

* They are dealing in bitcoin, which isn't something that a huge number of large private investors are dealing in.     

You other concerns are possible more valid although there have been rebuttals posted about them.   You could be right and you might not be, only time will tell. 

Why number of posts matter at all? I had my 1st post on this forum today, but I've mined my 1st btc way before most people did on this forum.

As I mentioned, I have been watching this thread from day 0 and the only reason I got registered here today was to share my opinion on FreeJack2k2's posts. Since past week or so I started to have second thoughts on him, and finally today I felt like I should share my opinion. If you read my and NLNico's posts, I hope the reasons are quite clear.

Couple of weeks ago I have started there with 2.6btc, and day before yesterday I withdrew 3btc. Like most people here I really wish/hope that this site is legit and 0.4btc I made didn't came directly from someone else's deposit, but we all know that the reality doesn't care about our wishful thinking. I thought this thread would be very helpful especially for newcomers if we all discussed those many legitimate concerns openly without shrugging them under the carpet.

So I hope I made it clear that I am not frustrated because arbs is still working, but I was frustrated to FreeJack2k2 as he was discouraging doubts about legitimate concerns. Preventing newcomers from scams through an open balanced discussion is the least we can do to support bitcoin.

So if you are concerned it's a scam, isn't it good to warn others with your concerns? Or do you enjoy if other people get scammed?

If everyone is just posting here how great they are, it isn't very balanced either? Especially since the average HYIP/ponzi would make all of their users very happy ... until they all get scammed in 1 time.





But yes, I will agree with you guys again. This is a very legitimate finance business with 10 employees and an office in Geneva (one of the world cities in the finance world - very expensive offices) so probably at least $500.000 costs in the first year right? No problem for this unknown company.

They offer let's say 1% daily ROI, stunning 3778% ROI in a year.. so with only $500.000 they could make $19 million in 1 year.. great right?! But the private investors prefer to just invest in the expensive office and 10 employees.. so they need YOUR BITCOINS to actually do the arbitrage!

Their website is an exact copy of a ponzi site that scammed a lot of people for a lot of money (note: before that scam, their users were very happy, no problems.) But hey, just using the same HYIP script, what's the problem?

No one has any clue who these 10 people are but they have a very professional e-mail address that starts with "admin@" (only nerds or hackers use e-mail addresses like that.) Just a pity that they have no representative on bitcointalk or reddit (Coinbase, Kraken, BTC-E, Just-Dice, etc - every serious bitcoin business has some representatives on either of these sites.) But still these complete unknown strangers are discussing "the future of bitcoin" (lmao - actual quote!) with the industry leaders and the biggest entrepreneurs of the bitcoin community.



Seems legit.

I'll try to open a support ticket about this issues, about the "forget password" issues, using my account, and see what they will say.

Frankly I'm not sure why you are NLNico are even posting here, although you are welcome to do so.   It is almost like you want to see the site just disappear.   Maybe you have already made up your minds.   I at least have a small amount of skin in this game and I'm very concerned that it could be scam, however it isn't nearly as risky as other investments I'm involved with, like buying AGS.   

Anyway you have like 4 posts and they are all attacking FreeJack2K2.   That doesn't come across as very balanced or objective.   It does seem like there is growing frustration with the fact that BTC-Arbs hasn't disappeared yet.   

I hope you understand that I never asked you to leave or something like that, I just wish you to stop making long posts filled with cloudy two-sided arguments. As NLNico points out, those are all making many of the raised issues = "no big deal". From simple things like 10 workers or cocktail parties, to potentially more serious things like "meeting with btc leaders" - we all (who have invested) need to consider and weigh them very carefully. The main goal for people who post/watch this thread is to play safe in this game, and I am sure you would agree that only solid factual arguments serve the best purpose.

If you notice something really worth in support or against the website, please do share here.

FreeJack2k2, first of all I do not think you are a shill, but IMO your posts do keep defending them just a bit too much. If there are people depositing because of your "reassuring posts" and after all it does turns out to be a ponzi, then I assume you would have preferred to not convince others to deposit?

I know you post "don't risk more than you can afford to lose" and stuff, but by defending btc-arbs against "ponzi arguments" you are convincing depositors more than anyone by removing their doubts.


Even an obvious lie like: "We currently have 10 employees".. what do you say:


You make it like "no big deal" but it is a big deal! If they easily lie about their own company and "identity", it's not very hard to imagine they lie about other things too.


Now I could repeat all the arguments and your replies, but I hope you understand what I mean. Once again, I do not think you are a shill but just a true believer in them or something, but I am not sure if you should really try so hard to defend them.