So after reading several pages in this thread, I'm still uncertain whether BTC-Arbs is a legitimate business, or is a ponzi scheme which will rob me of my coins within a few months.
Is there any conclusive proof that there is some shady work happening behind all this? It appears everyone is able to generate interest and withdraw funds with no issues, and if they are making a cut out of all this, it's in their best interest to make their business model work.
Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds - page 170. (Read 276958 times)
March 23, 2014, 05:51:51 AM
March 22, 2014, 01:12:21 PM
It's most likely untrue that there are 10 employees on this, but I do believe he's got at least one or two other people helping with the trading. It doesn't take a lot of people to do this though and he's on record as saying they use a trading bot for BTC-e and Bitstamp, so the manual trades are done on the smaller exchanges. Bitcoin is a 24-hour market, so it'd make sense if you were doing this as a full-time business to have someone else working the "overnight" shift while you sleep!
Glad to hear the deposit was taken care of, though.
Glad to hear the deposit was taken care of, though.
March 22, 2014, 12:22:16 PM
After third support ticket they updated my deposit. Reply was from Adam, I bet "We currently have 10 employees" is a BS.
Good, I was not feeling comfortable when you mentioned your deposit was not credit. Glad this is resolved.
March 22, 2014, 12:21:39 PM
received my withdrawal!
How long did it take?
Yea i transfered 0,08BTC to them, lets see if they arrive. I got this message, that i have to wait 1-8 hours till the coins become credited. Lets see if they are legit oO
BTC x 1,01^365 sounds too good to be true
It took about 8 hours to receive my withdrawal in my case. I test them every week requesting small amounts just to be sure everything is fine.
March 22, 2014, 02:22:30 AM
After third support ticket they updated my deposit. Reply was from Adam, I bet "We currently have 10 employees" is a BS.
March 21, 2014, 10:34:29 PM
This thread is laughable. Watching BTC-Arbs and wondering if it is a Ponzi, is analogous to turning the handle on a Jack-in-the-Box, and wondering if the clown will ever jump out at you, and then being surprised when it finally does.
March 21, 2014, 04:04:35 PM
received my withdrawal!
How long did it take?
Yea i transfered 0,08BTC to them, lets see if they arrive. I got this message, that i have to wait 1-8 hours till the coins become credited. Lets see if they are legit oO
BTC x 1,01^365 sounds too good to be true
March 21, 2014, 11:14:54 AM
received my withdrawal!
March 21, 2014, 09:27:28 AM
Yup, they are paying, received another test withdrawal.
March 21, 2014, 09:20:13 AM
Bump. Is This site paying
The idea of a ponzi is that it will pay everyone perfectly so more people make deposits until the end and then all money is gone.Obviously you can decide for yourself if this is a ponzi or not, there is enough information in this topic.
I just mean to say, that previous successful withdrawals are not any proof for it not being a ponzi.
March 21, 2014, 09:06:38 AM
Bump. Is This site paying
Was for me a couple weeks back, I'm sure it is as people would post straight away on here.
March 21, 2014, 08:37:18 AM
Bump. Is This site paying
March 21, 2014, 05:13:57 AM
As I said: no.
Of course I sent ID, my address, their address, amount. Even the link to the explorer.
Looks like they don't give a f. if one don't press evil confirm button :]
Of course I sent ID, my address, their address, amount. Even the link to the explorer.
Looks like they don't give a f. if one don't press evil confirm button :]
Interested to see if this is resolved, hopefully it will be.
March 21, 2014, 02:56:48 AM
As I said: no.
Of course I sent ID, my address, their address, amount. Even the link to the explorer.
Looks like they don't give a f. if one don't press evil confirm button :]
Of course I sent ID, my address, their address, amount. Even the link to the explorer.
Looks like they don't give a f. if one don't press evil confirm button :]
March 21, 2014, 01:36:53 AM
Manually or not that does not justify not responding to my deposit issue for 2+ days. E-mail failed also. They just took my BTC.
My first deposit was ok when I clicked confirm.
My first deposit was ok when I clicked confirm.
Did you get them to solve it for you? I have usually had an answer to any support question within 24 hours. I would make sure you provide transaction ID, date, time and amount when you ask about it, if you didn't.
Definitely keep us posted about how it goes. It has never taken longer than 5-6 hours for one of my deposits to go through.
March 21, 2014, 01:31:50 AM
Manually or not that does not justify not responding to my deposit issue for 2+ days. E-mail failed also. They just took my BTC.
My first deposit was ok when I clicked confirm.
My first deposit was ok when I clicked confirm.
March 20, 2014, 09:06:34 PM
I have missing March 20 in the stats, there is 19 and 21 ;]
That's because the time that the results were posted was actually the 21st in Switzerland. It was posted after midnight their time (which also jives with the claim that this is where they're based). Tomorrow you'll probably see two results for the 21st. I've had that happen before, with them.
If you don't hit "confirm" after you send Bitcoin, I think it causes them issues because I get the feeling they handle the transactions manually, it's not automated. It probably sends them an e-mail or something that lets them know how much Bitcoin was sent, to what account, the transaction ID, etc...
I added today with the usual method and funds were credited within two hours.
I think they were late with posting results today because there wasn't really a spread to speak of on BTC-e and Bitstamp until very late in the day and it only opened up for a short window of time; most of the day, the two exchanges were on par. For about half an hour, a spread of $5-6 opened up between those two and since they use bots for those two exchanges, they'd have gotten in on it. They were probably working manually on the smaller exchanges the rest of the day.
March 20, 2014, 08:23:03 PM
I have missing March 20 in the stats, there is 19 and 21 ;]
March 20, 2014, 07:18:33 PM
Is today the day?
Edit: Nope, good result.
Edit: Nope, good result.
March 20, 2014, 06:03:03 PM
I've made a second deposit 2 days ago, but probably I forgot to press 'confirm' at the site (I don't remember). The amount never showed up under my balance. I sent a ticket two times, got no response.
This might be a dumb question, but did you check in the support ticket on the site? The first time I sent a support request, I was expecting an email reply, but actually got one on the site within the support ticket. Just thought I'd mention it...
not a dumb question. I freaked out as well until i figured out that the support ticket response was on my account support page, on their site. results for the day havnt been posted yet which worries me being that they always have had them posted by 3 pm pacific time. Ill withdrawing tomorrow which was my plan from the start and will report back if i have any issues.
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