This is obviously a ponzi. There will be a lot scammed in the end, be careful. I would advise to not put any money on this website. Withdrawals are possible now to earn trust so people put more money in.
Just imagine this... daily ROI is like 2%:
1000*1.02^356= 1152553
So after a $1.000 investment they would make $1.152.553 in 1 year. Do you think, if they have a magic formula to make that much money.. that they will put time into making this website for "investors"? Of course not.
Also just search on "btc-arbs.com" on google and you will find mostly HYIP, ponzi, "moneymaker", etc sites/forums since that's their target group (greedy idiots.)
Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds - page 179. (Read 276958 times)
March 02, 2014, 03:31:09 AM
March 02, 2014, 03:09:18 AM
I sure hope these fellas are holding the proper amount of fiat!!! I have alot more questions but have placed 2 btc on this site!!!! I will keep u all updated!!! Im curious to see how it goes!!!!
March 01, 2014, 08:29:55 PM
This is a scam. STAY AWAY !!
http://www.reddit.com/r/Bitcoin/comments/1zanhq/btcarbsnet_and_ugabaltron_are_scammers_stay_away/
It's btc-arbs.com, not .net.http://www.reddit.com/r/Bitcoin/comments/1zanhq/btcarbsnet_and_ugabaltron_are_scammers_stay_away/
March 01, 2014, 07:59:22 PM
This is a scam. STAY AWAY !!
http://www.reddit.com/r/Bitcoin/comments/1zanhq/btcarbsnet_and_ugabaltron_are_scammers_stay_away/
http://www.reddit.com/r/Bitcoin/comments/1zanhq/btcarbsnet_and_ugabaltron_are_scammers_stay_away/
March 01, 2014, 07:13:41 PM
I was a little worried when a bitcoin deposit still wasn't credited to my account after 8 hours, but now it's there and I've received my daily ROI. Apparently they do everything manually. Gonna leave it for a while, then try to withdraw to see if it's safe(ish) to deposit a little more.
March 01, 2014, 05:03:14 PM
left 1BTC there a bit more than a week after having successfully attempted withdrawals several times over there.
So far this BTC has 16.74% profit for that period (with some referral profit as well apparently). As always it's a gamble, and if the guys are running a ponzi you never know when they'll pull the plug. But so far i'm juicing it.
So far this BTC has 16.74% profit for that period (with some referral profit as well apparently). As always it's a gamble, and if the guys are running a ponzi you never know when they'll pull the plug. But so far i'm juicing it.
February 28, 2014, 05:06:45 PM
lol 0.01% per day is crap..
February 28, 2014, 05:04:13 PM
It's really in the gamble forum. Just wondering why there isn't a day that's negative.
You don't swap coins if the outcome is negative.
I have opened an account and deposit 0.1BTC. After two days I withdraw everything. That was 0.102BTC
I got suspicious because they never answered my ticket. How am I suppose to contact them if anything goes wrong ?
Funny thing is that the withdraw fee is 0.001BTC but they never subtract it from my total sum. I was expecting to get 0.101 back.
February 28, 2014, 05:01:30 PM
Does one have to supply correct ID info (e.g. do they ask for proof)? I don't feel comfortable letting them know my name since there's no proper terms of service, privacy statement etc.
February 28, 2014, 12:15:21 PM
It's really in the gamble forum. Just wondering why there isn't a day that's negative.
February 28, 2014, 11:32:15 AM
Not to thread-jack or anything but I took the liberty of looking into this site myself since it looks pretty promising. However, I have come to the conclusion that there's a good chance this is a hybrid of a Ponzi, eg: HYIPs or the likes. One tell-tale sign is lack of information on who runs it and also if you calculate the daily return rates, it seems quite high for arbitrage trading.
It would make more sense if they traded the BTC people put in and turned a profit from arbitrage trading which then gets taxed a % which then gets spread across their investors depending on the amount invested. That might make more sense in terms of structure but it seems to me the interest rate are a % of what is invested individually by it's members.
That's just my rant but good luck to all those who have invested. I hope everyone at least gets to make some return out of this program.
It would make more sense if they traded the BTC people put in and turned a profit from arbitrage trading which then gets taxed a % which then gets spread across their investors depending on the amount invested. That might make more sense in terms of structure but it seems to me the interest rate are a % of what is invested individually by it's members.
That's just my rant but good luck to all those who have invested. I hope everyone at least gets to make some return out of this program.
February 28, 2014, 08:10:34 AM
CC23 There're 17 pages of positive experiences in the link from my last post
But yes, best way to check it out is by yourself.I'm not really good at Russian.
February 26, 2014, 02:04:19 PM
It was max investment in fact. An answer to another question was copy-pasted there by mistake. Yep, nothing serious. On one hand. On the other I think it would be difficult for them to process very huge amount of bitcoins/dollars with the same efficiency as the small one.
Rannasha what if they trade altcoin pairs, not only dollars vs bitcoin? Would your estimation be the same then?
CC23 There're 17 pages of positive experiences in the link from my last post But yes, best way to check it out is by yourself.
Rannasha what if they trade altcoin pairs, not only dollars vs bitcoin? Would your estimation be the same then?
CC23 There're 17 pages of positive experiences in the link from my last post
But yes, best way to check it out is by yourself. February 26, 2014, 01:56:23 PM
Hmm. As soon as I have bitcoins that are under my control again (yep, goxed, trying to shake some out of bitstamp soon), I'll give it a try with the minimum required deposit and tell you about my experiences. At least it appears legit and they have those nice descriptions on what they did each day. If it's a scam, it's a very good one.
February 26, 2014, 12:21:43 PM
Smells like Ponzi to me.
I do automated arbitrage-trading with a little bot I created so I have some idea of the profit you can get. But their results with most days over 1% profit on their fund is extremely high. Take into account that most people will be depositing BTC in this fund, but the limiting factor in arbitrage trading is often the flow of fiat currency. Once you run out of fiat currency in one account, you either have to wait several days for a wire transfer (twice that if the USD comes from another exchange account and has to go through your own bank account first) or wait for arbitrage opportunities to becomes available the other way around, which with some exchange-pairs rarely happens. While BTC can be moved around quickly, within an hour. This means that they'll probably have a large stack of BTC sitting idle for most of the time, which greatly reduces your profit-%.
Their website also says that you can't visit their offices in Geneva, so they can keep their costs low. But who the fuck has the bright idea to set up an office in one of the most expensive cities in the world while trying to keep costs low. Hop 20 km over the border to France and your costs are reduced by 30% or more (I know, I live in this area).
Gamble at your own peril.
I do automated arbitrage-trading with a little bot I created so I have some idea of the profit you can get. But their results with most days over 1% profit on their fund is extremely high. Take into account that most people will be depositing BTC in this fund, but the limiting factor in arbitrage trading is often the flow of fiat currency. Once you run out of fiat currency in one account, you either have to wait several days for a wire transfer (twice that if the USD comes from another exchange account and has to go through your own bank account first) or wait for arbitrage opportunities to becomes available the other way around, which with some exchange-pairs rarely happens. While BTC can be moved around quickly, within an hour. This means that they'll probably have a large stack of BTC sitting idle for most of the time, which greatly reduces your profit-%.
Their website also says that you can't visit their offices in Geneva, so they can keep their costs low. But who the fuck has the bright idea to set up an office in one of the most expensive cities in the world while trying to keep costs low. Hop 20 km over the border to France and your costs are reduced by 30% or more (I know, I live in this area).
Gamble at your own peril.
February 26, 2014, 11:44:05 AM
Did you mean the min. investment stuff? But at least they fixed it. Yes, what U say are true, it did take them like over a week to fix it. But perhaps they got something important to do, maybe running this site is not their primary job, it may have been their second job or something, I don't know.
U sure do a lot of analysis about the site. U are analysing things at a higher level than I do. It is just excellent for investors/potential investors that this thread had found you.
U sure do a lot of analysis about the site. U are analysing things at a higher level than I do. It is just excellent for investors/potential investors that this thread had found you.
February 26, 2014, 11:35:50 AM
I shall undelete one link which is definitely on-topic.
In this often-updated thread on investment forum in Russian (google link #2 on btc-arbs)
http://mmgp.ru/showthread.php?s=d909ba6b7d585787edc154225da5a94f&t=246426&page=19
they keep their eye on the "health" of the service. It has 19 pages up to date.
They have run into no problems so far.
hey, Can you tell us if you earn something?
Can you cashout?
How many profits?
Can you cashout?
How many profits?
In this often-updated thread on investment forum in Russian (google link #2 on btc-arbs)
http://mmgp.ru/showthread.php?s=d909ba6b7d585787edc154225da5a94f&t=246426&page=19
they keep their eye on the "health" of the service. It has 19 pages up to date.
They have run into no problems so far.
February 26, 2014, 11:26:14 AM
Yep, I agree, that this is offtopic.
I gave it another thought and what really bothers me in this situation is not the number of staff in their company. That's totally out of my business.
What really bothers me is this:
Investing is about trust. And it's difficult to trust someone who doesn't communicate in a quick and transparent way (yes, I know it is not enough either but at least something). Why wouldn't they create an account on bitcointalk like Bter does ("Our IDs on bitcointalk: ...")?
When I wrote them in the 'contact' page about a mistake in their faq it took them almost a week to fix it. That worries me a little. Lack of clear and transparent communication with their team. That's why I liked that you raised the ticket and posted the answer here.
In my country even the busiest and least client-oriented banks find time and people to comment on major bank-related forums to comment on most important questions.
Their service needs a thread like yours. So thank you too
I gave it another thought and what really bothers me in this situation is not the number of staff in their company. That's totally out of my business.
What really bothers me is this:
Investing is about trust. And it's difficult to trust someone who doesn't communicate in a quick and transparent way (yes, I know it is not enough either but at least something). Why wouldn't they create an account on bitcointalk like Bter does ("Our IDs on bitcointalk: ...")?
When I wrote them in the 'contact' page about a mistake in their faq it took them almost a week to fix it. That worries me a little. Lack of clear and transparent communication with their team. That's why I liked that you raised the ticket and posted the answer here.
In my country even the busiest and least client-oriented banks find time and people to comment on major bank-related forums to comment on most important questions.
Their service needs a thread like yours. So thank you too
February 26, 2014, 11:14:57 AM
Sure, "the forum is not a proper place for discussion" - that's how politics in Russia say
Enjoy yourself in your wonderful thread.
Enjoy yourself in your wonderful thread.
LOL, no, U misunderstood, I am really grateful that U supported my thread, & make so much opinion about btc-arbs. I really am very welcome your discussions & opinions. Previously your opinions are very unique & valuable, U have noticed something that I didn't. eg. On the result page, we could find a day's ROI by clicking on the date, which I didn't tried until U say so.
However, just for some discussions & opinions, in my opinion, are not that importance to investors/potential investors. eg. How many people working for an organisation, really, is dependent on the organisation, I don't think it is worth investigating by investors/potential investors or concerns for investors/potential investors, at least not @ this point in time.
February 26, 2014, 11:02:41 AM
Sure, "the forum is not a proper place for discussion" - that's how politics in Russia say
Enjoy yourself in your wonderful thread.
Enjoy yourself in your wonderful thread.
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