Bitcoin Forum

Hey guys!

We are a group of friends who have now spent the past 6 months developing an automated cryptocurrency trading platform, that detects and executes arbitrage opportunities throughout different markets. For those of you unfamiliar with the term, arbitrage simply means simultaneously buying bitcoins or litecoins low in one market and selling them high at another, creating a small profit with each trade.

We have tested the platform using our own investment and through friends that served as alpha testers. We found the platform to be working, stable and so far making consistent profits anywhere between 2%- to 6% a month. If you are interested in trying it out, we are currently in a closed beta stage. To check out the project or request an invite, visit our website Bitllama (http://www.bitllama.com) or drop us your e-mail at info@bitllama.com.

Invitation requested.

Good project !

Could you tell us on which exchange you do arbitrage, and on which market?

Thought that address sounded familiar:

I would like to join and see what this is all about.

What is the minimum you can deposit?

Thanks! We'll be sending invites very soon - probably next week  :)

Markets we pick for arbitrage have a certain amount of volume and a good reputation (this means we only use the biggest and well known ones).
Arbitrage is currently performed using  BTC / LTC / USD but will expand to other cryptocurrencies after the beta testing phase.

You can request an invite by visiting our website (http://www.bitllama.com) and dropping us your e-mail.
We'll send you an invite in a matter of 2 weeks.

Minimum deposit is currently at 0.2 BTC. :)

BEWARE, MANY were recently scammed by another "arbitrage" site that promised similar results.  Do your research before investing.

some research:

"Bitllama Inc"... located in the UK... tell me:

1) How can your "collective investment scheme" be organized as an incorporation instead of a fund / trust under the The Financial Services and Markets Act 2000?
2) If your naming suffix "Inc" suggests the US business types S-corporate or C-corporate, how can you be registered in the UK?
3) Interestingly in your "Terms of Use" you use "Bitllama Ltd." ... the same corporate type as Bitstamp, which has the same address and the same Terms of Use ... copy paste?
4) But if you're really a Limited, registered in the UK and in the footer this is just a typo, why is there no entry on the Companies House website (http://wck2.companieshouse.gov.uk/) (UK's registrar of companies)?
5) ...

We're aware of websites that have promised risk-free gigantic profits of 1% a day using "arbitrage" and turned out to be scams. While anything, from forex to financial services and beauty products can be used as a cover for elaborate ponzi schemes, bitcoin services seem to be popular tool of choice for scammers. We therefore do understand your concerns fully but would still like to make a small comment.

We do not promise "similar results". Our profits are made 100% using arbitrage, which means they are not enormous (2-6% a month) nor are they risk-free. There is no such thing as a free lunch and even when fully profitable, arbitrage still carries its own risks - btw we cover most of them on the website's "risk warning" section.
 
We also do not run an affiliate / referral system - the way pyramid schemes usually operate and grow to pay out profits to the first tier users.

If it helps - in order to give our customers some idea and sense of control about what goes on under the hood of the platform, we also provide a dashboard interface that shows real time data on the amounts of LTC, BTC and USD currently in arbitrage at all times.
 

Another btc-arbs joining the club... be aware guys in 2 months or less you will get goxed. Mysteriously some hacker will crack their wallets and steal the funds.

@UK PLC Head office
5 Jupiter House,
Calleva Park,
Aldermaston,
Reading,
Berkshire,
RG7 8NN
United Kingdom

The address you claim to be yours also belongs to UK PLC, a company that specialises in setting up companies. IANAL, but AFAIK even if this company did register on your behalf, you need to have your own address and point of contact if your based in the UK. I also doubt a company would allow their clients to use their address. Still, I've contact UK PLC to confirm if your affiliated with them, will post back if I get a response.

Could you clarify?

Hello Botticelli,

we are currently still in the process of registering the company as we had to sort out all sorts of legal, accounting and tax issues. We expect to sort it out sometime this or in the beginning of the next month. We are most likely going to use the company in the UK that Bitstamp used to register their services - this is why the same address.

Apologies for the .inc in the footer - you almost guessed it - not a typo but a placeholder text for footer we used during development. We'll fix it asap.

As sceptics ourselves, we completely understand your concerns, hopefully you'll be kind enough to check with us in few weeks when we're all sorted out legally and typo free - maybe even give the platform a try ;)

Cheers!

registered and waiting for invitation. keep up!

Hey guys!

Just letting you know that we're sending out beta invites this week, so if you want one just drop us your e-mail at Bitllama.com (http://Bitllama.com) :)

I sent you an email and would be interested in giving this a test shot.

Beta invite received !

Registration processed, and deposit done.

Waiting for profit :)

can you please send me a invite...

i can put 1 BTC

Invite sent :)

As beta tester of your project, i can say that more transparency will be great and will help your project to grow.

agreed

What's wrong today with profit?
Until today, i was around 3/5% profit and now :

https://i.imgur.com/6T5liPo.png

Could you explain us how is possible?

I can understand a bad day and a small lose, but here it's a big lose of all earn since two weeks...
This case worth explanation...

Aye, risk, and markets not agreeing with a programmer's idea. As a former user of "auto-traded-forex" I can relate.

Hey guys,

Today was a very turbulent day indeed. The way that the bot currently works is, that it takes deposited BTCs and distributes them evenly among different currencies on different exchange markets, so it can trigger trades as soon as arbitrage opportunities arise. Most opportunities can last only few seconds at most, so we can't afford to do fund transfers before the trade. The screenshot shows how you can view your current fund distribution on the dashboard.

https://i.imgur.com/htuc1ja.png

As you click on withdrawal button, you can see this calculation here showing where profit comes from and what everything it entails. (By the way this also separates us from ponzi websites claiming to make profits from arbitrage - we can show you how we get to the profits - they can't. Ask them, we dare you  ;) )

https://i.imgur.com/i1rcZpI.png

Consequently, as we hold three currencies, we are somewhat exposed to fluctuations of LTC and USD. Without getting into too much technical detail, the problem arises as we convert LTC back to BTC - affecting the profit. We are well aware of the fluctuation problem (also explain it in the warning page) and are currently in the process of testing a solution. When determined that it is 100% stable and effective in mitigating currency risk, we will patch Bitllama with the new algorithm. If successful, users should no longer experience any negative trades, arbitrage loss or negative fluctuations. Not even temporary :) So stay tuned, we're working on this solution really hard and can't wait to release it - it shouldn't take much longer than 2 weeks.

Until then we remain in beta (also our fees remain beta appropriate) and appreciate your patience. As we value our users above all else, if at any point you wish to make a withdraw on a day that LTC is causing a loss in your portfolio, simply contact us and we'll discuss covering it with our own funds. Throughout the year though, we have not once ended up with a loss at the end of the month - just very short rough patches (lasting 1-2 days due to fluctuation of LTC).

Also we want to let everyone know that looking at the platform, all our users have profit again as LTC is stabilized. This is a screenshot of our testing account with deposit from about 2 months ago.
https://i.imgur.com/7u87SN3.png

Hopefully we clarified it for you and if you ever need our prompt reply or explanation, feel free to contact us at info@bitllama.com and we'll get back to you much faster than on the forum :)

Thanks for this very usefull reply ;)

You should continue to communicate like this by yourself, it's really appreciable !
What's the next step of your platform? There is no information on future, as investisor, we want to know where we'll go.

Can anyone send me invite

Need Invite too, anyone ?

Invite pls