According to their Telegram message June 15th, they are buying 500 Antminer S9 units, which model not specified.

I was referring to the current ownership of the ICO money.
That is now in IR possession, having been swapped by investors for promises.
Re S11's, I was surprised to see them as an option on the "Which miners shall we buy? Poll" as, until Bitmain release specs, prices and delivery schedule they should be regarded as vaporware for all practical purposes.

Exactly.

He was right first time unfortunately; the money has changed hands.
Anyone fancy hiking thru Kazakhstan to get a refund?

Don't fret guys, you want to argue with/chase scammers?
There's more than enough others to go round still out there.

You should never be disappointed by skepticism my friend, but beware complacency and assumption at all times.
Our experience of arbitrage schemes in Bitcoin?
The perfect 10/10, I think. Scams, that is.

Anyway, yeah quite a few words from some of us, back to basics.

from the other thread


Yeah, like who are Arbitao?
A supposedly London based 'entity', asking for $$zillions$$, which has no company registration, no address, no legal existence in any shape or form that they can/will provide. Even in ICOland, that's ridiculous.

You mean the guy from Fiverr?

I'm sure he came round my place with some pizzas last week, he does Deliveroo between acting gigs.
I think the blinking is down to those stage glasses they made him wear to give him gravitas, or he may have picked up an eye infection from the dirty London air riding his delivery scooter.
Hth.

---

Hey, put some effort into your shit posting. I especially like it when you use phrases like




My fav so far


reported.

Yeah, can't trust anyone these days.
Oh fuck, I used the trigger word, expect a botvanche of one liners and concern trolls...


Not that I'm really interested, but do you mean "whole" or "hole" or both?


Yeah, double trolled as he's wearing an Arbitao (totes legit, no scam, they said so) badge.

Here's a nice picture of the Arbitao head honchos enjoying some London fresh air on the banks of the River Thames, with the world famous Houses of Parliament and Big Ben in the background, no doubt just round the corner from their "London HQ".
Having a "London HQ" is still seen by many (potential investors) as a big credibility factor in the financial world.

This picture was included in this May 2018 press release.



Just one thing, like most of the UK, the Big Ben tower is falling to pieces and for over a year has been covered in scaffolding...

Good luck, shame about the name.

A couple of cross posts from their self modded thread

Isn't it just? I guess they feel the need to start generating some income, any income....that ROI needs paying, but they ain't going to do it with S9's.
They are immediately available and cheap tho, so maybe the cave will be humming by say early July? (Obv. no June profit= no June payment?)
On current difficulty and price, I estimate 30 days mining with 500 X 'averaged out S9's' will return something in the region of $60k gross.

That breaks down as

50% return to investors of $30k
20% retained for reinvesting  $12k
20% expenses $12k
10% IR keep $6k

Three questions:
What's the ROI on all the tokens sharing $30k return between them? "400% annualized?" Na.....

When do they reinvest the $12k what do they buy, when does it come online and start earning?

At $0.03 per kWh, in 30 days 500 S9's will use about $17,000 of electricity. How does that $17k come out of $12,000 allowed for all expenses, including electricity, staff, security etc.?

There were ponzis before Ponzi.
The acronym HYIP (as opposed to uncapitalized "high yield investment program) is a modern term of scam obfuscation, having different shades of meaning in different societies.
My reference to Russia was not derogatory per se, but based on my experience of analysing hundreds of these schemes.
Multi 'investment', sprawling, baroque creations such as this one are a popular template for attracting investors/players/mugs from Russia and Eastern Europe.
Other countries favor other structures: Africans have a weakness for cash gifting schemes, Americans a soft spot for miracle cures, supplements and such like, whereas South Asian schemes based on "education" are very popular.
Of course these are generalizations; there are global scam favorites like forex and arbitrage which appeal to "passive investors" everywhere.


Both of these points are nonsense.
A scam is a scam, irrespective of whether or when the victim realizes it.
Mercury Global does not and never will "work endlessly", it is a reboot of Mercury Mutual Fund which collapsed in 2016 and will collapse in due course itself.
This phase of the scam is usually heralded by signs of an exit strategy, for example when participants are encouraged by discounts or premiums to send funds outside of the normal accounting procedure, directly to the personal account of the admins.
Like this.....

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This is getting off topic for this thread so I won't respond any more here, but have crossposted this to here
https://bitcointalk.org/index.php?topic=2460570.40
where, no doubt, the charade will play out. That's play out, not pay out....

Excellent innovation, now instead of getting dust payments you will actually be able to pay them every month.

5 years mining... @ $285 and $0.14 fees that's also near as damn it the ROI.
Bargain!!!
/s

Gosh, that's good. 
Do they get a receipt? /s

This really is the most obvious HYIP I have seen for a long time. (I use "HYIP" instead of "Ponzi Scheme" in deference to Russian preference for that term).
I can't be assed to pull this shit to pieces, anyone who gives it any credence is a lost cause, but for a page filler, here's a post from Meta

Or, just maybe, the BTC bull run above $10k was total bullshit in the first place...

You don't have the slightest idea what you are talking about, do you?

Citation please.

Are you aware of this thread?
https://bitcointalk.org/index.php?topic=4470489.0

According to cyberpinoy you should be, because apparently you and I are friends and I "attacked" him on your instruction....

There's plenty about this "arbitrage platform" that smells "kinda fishy"....here's just three aspects of it that are atypical of previous scams which pretended to arbitrage.

1) The software is supposedly already successfully running and producing profit for anonymous "private investors".
2) The "Four types of Arbitrage pools" structure is exactly similar to HYIP script "investment opportunities" i.e. invest more, get higher
     return. There is no logic behind this structure for pooled equity trading.
3) Multi level marketing scheme attached.

That's without mentioning the Linkedin profiles, cliched marketing vids, emphasis on "community" blahblah, or the wallet or the internal exchange or the.......