You cannot have zero risk. Even when you have funds to purchase at one exchange and coins to sell on the other exchange at the same time, there is always possibility of the price or quantity changing while you perform your transactions. There are bots on the market which can speed up the entire process but even these bots can make mistakes. There is always risk when dealing with BTC.
I agree you cannot have zero risk. You are always left to some extent with the risk of the exchange(s) going down, some execution risk etc. But the key thing you should not have in arbitrage is exposure to the price of the underlying asset. What you call arbitrage above is not arbitrage because you are just betting that the price will follow some pattern. Buying when it's down in the morning and selling in the afternoon is not arbitrage. I disagree but it does not matter. LTC has been going down big time, however, not all exchanges follow this trend the same way. I was able to catch a few arbitrage opportunities due to this. |
|
|
|
|
Great news, Bitcoin Trader started accepting Ripple and Litecoin. This allows more freedom and choice when funding your account.
|
|
|
|
|
In case you find some other interesting program, let me know, maybe I can sign under you to return the favor. BTW, there should be a newsletter today, I wonder what do they have to offer this time.
|
|
|
|
|
Yup, I agree. Time will show how good my decision was.
|
|
|
|
|
Ok, I am Satoshi Nakamoto too.
|
|
|
|
Having said this, I still hope and believe they are legit, the risk is there as with anything else BTC related.
Lets be clear the risk is seriously high with this, not everything BTC related is the same at all, this is red light warning zone high risk level investment. Chances of them doing a runner in next few months would always be something like 50%? In a few months time if they still online this wouldnt change. Well people did say Mt.Gox is the best and safest exchange of them all. Other people said Hashfast and Butterfly labs would deliver their products on time. I know people using Vircurex and being very satisfied with them before their meltdown. Would you call these investments risky before they crashed? ANYTHING related to BTC is risky. We can wake up tomorrow and BTC can be worth 2 cents. Yes i would call all those things you mentioned as carrying a decent risk. "anything related to BTC is risky" is not the same as... everything in BTC is high risk. If you buy BTC off a friend and use it at overstock.com this is very very low risk. Its not an exact science but I'd put your business as high risk category right now. So I cant invest at 1% per day, not even close. Just to be clear, this is NOT my business, I am just a user and investor. If something happens to them, I would be very,very unhappy. However, my journey has been quite nice so far, I should be reaching full ROI in just above 2 weeks. We ll see how that goes. |
|
|
|
Having said this, I still hope and believe they are legit, the risk is there as with anything else BTC related.
Lets be clear the risk is seriously high with this, not everything BTC related is the same at all, this is red light warning zone high risk level investment. Chances of them doing a runner in next few months would always be something like 50%? In a few months time if they still online this wouldnt change. Well people did say Mt.Gox is the best and safest exchange of them all. Other people said Hashfast and Butterfly labs would deliver their products on time. I know people using Vircurex and being very satisfied with them before their meltdown. Would you call these investments risky before they crashed? ANYTHING related to BTC is risky. We can wake up tomorrow and BTC can be worth 2 cents. |
|
|
|
Ok, so according to your theory BTCe is a scam too. There are no details about individuals behind this exchange, yet millions use it. I have used it and I can bet you have as well.
BTCe has a clear and credible business model that allows them nice profits without scamming anyone. That doesnt prove they wont, and I do indeed consider BTC-e to be very high risk, but its entirely plausible they are legit. This ponzi of yours however, its utterly obvious if the operators really were able to extract the profits they claim from arbitrage, they wouldnt need to borrow your coins, pay outrageous interest rates and keep borrowing more to get filthy rich. Ergo, its a ponzi. You do understand they also allow funding of your account via a bank wire. This makes it quite easy to find them in case something goes wrong. Actually, this happened a few weeks ago when another program went down, users managed to track the owner and now he is repaying everyone back. Another point, take a look at https://bitlendingclub.com/ and similar lending services. The average lending interest rate is 9.49% per month and people still lend there. Why? Isn't that an outrages interest rate? Why people dont go somewhere else and get it at much lower rate? Isn't this a quite clear business model? Are all these guys who lend there scam, HYIP or similar? Let me remind you they have funded 532 loans so far in the amount of 866 BTC and they are online only a couple of months. How is this possible? I could list a few more examples but there is no point, I understand you comment, I also have my fears but I have decided to continue using them and I am very close to my ROI. Having said this, I still hope and believe they are legit, the risk is there as with anything else BTC related. Anyone who wants a risk free investment can put their money in the bank, that is fine by me. There s no point arguing about this again, a few posts up, I have clearly stated my position about this. |
|
|
|
I respect other opinions but I disagree. I hope Bitcoin trader will be here for a long time to prove it.
Wouldnt prove anything since we never know when the scam could happen. To improve it as an investment opportunity you would need individuals to disclose detailed information about themselves. Without this its too high risk for even 10% a day. Ok, so according to your theory BTCe is a scam too. There are no details about individuals behind this exchange, yet millions use it. I have used it and I can bet you have as well. |
|
|
|
|
I respect other opinions but I disagree. I hope Bitcoin trader will be here for a long time to prove it.
|
|
|
|
|
A very nice price spread between Bitstamp and BTCe, maybe we can get close to 1% today.
|
|
|
|
I have been using them for about 4 months, for your information.
Ok??? And looking at your post above that makes no sense If you buy xxx shares for xxx dollars you get same amount of dollar in return when they expire No matter if you buy them with bitcoins or any other payment method So I'm wondering why you would say what you did in the post above. Really? Lets say I buy xxx shares for xxx dollars and I use 2 BTC to convert them into dollars to buy those shares. After 4 months I get my xxx dollars back from Bitcoin trader but BTC price goes up 2 times. When I turn those dollars into BTC, I get 1 BTC. Would I be better keeping my 2 BTC from the beginning of the story and having 2x more dollars at the end. Ha? Do not get me wrong, I really like their service, I use them for some time and I ve almost reached my ROI with them. However, if they do plan to improve in the future I would suggest them 1) accepting LTC and 2) have option of making deposit in BTC and withdrawing in BTC. This is what I would like to see. Keeping it in bit coin would actually make it safer imho. I will reinvest my 2 shares at the end of the month and might add a third so enjoy the referral income.  Thx a lot bud, if you are talking about me. I just hope we are all going to be very happy with this service. |
|
|
|
I have been using them for about 4 months, for your information.
Ok??? And looking at your post above that makes no sense If you buy xxx shares for xxx dollars you get same amount of dollar in return when they expire No matter if you buy them with bitcoins or any other payment method So I'm wondering why you would say what you did in the post above. Really? Lets say I buy xxx shares for xxx dollars and I use 2 BTC to convert them into dollars to buy those shares. After 4 months I get my xxx dollars back from Bitcoin trader but BTC price goes up 2 times. When I turn those dollars into BTC, I get 1 BTC. Would I be better keeping my 2 BTC from the beginning of the story and having 2x more dollars at the end. Ha? Do not get me wrong, I really like their service, I use them for some time and I ve almost reached my ROI with them. However, if they do plan to improve in the future I would suggest them 1) accepting LTC and 2) have option of making deposit in BTC and withdrawing in BTC. |
|
|
|
|
I have been using them for about 4 months, for your information.
|
|
|
|
|
Very simple, if you buy shares with BTC and BTC price goes up significantly before your shares mature, you might be worse off regardless of interest you get from Bitcoin trader. On the other hand, if the price goes down after you purchase shares, you might make more money.
|
|
|
|
|
Another milestone reached. Bitcoin trader has been online for 8 months. This means that people who invested in the first 4+ months have already reached FULL ROI. June 2014 cumulative trading result is +17.78%.
|
|
|
|
- Bought a total of 20 shares out of which 7 have expired.
There's 13 active shares as of now
Cashed out $392.22
Break even in USD will occur this week
After that it'll be net +
Measured in btc i broke even further back since my cashouts happened at an average of $450/btc and my average when initially converted to USD was $635/btc Another believer??? Get ready to get bashed by tons of trolls. Yeah, no point in posting about your withdrawals here - you'll just be attacked by ponzi-calling trolls and shills for other crap HYIPs. Notice how Yonce doesn't come around anymore? Maybe it's because the ponzi called "Finmutual" that he was trying to steer everyone into already collapsed LOL I noticed Bitcoin Trader just increased the hash rate for the mining contracts from 10 to 12GHS. I still wouldn't recommend these over the trading contracts, but it certainly nice for those who still have mining contracts that they purchased earlier. Yonce s not here cause he was Finmutual admin. Now when his "recommended site" collapsed, he s decided to hide. Considering what happened to BTC-arbs admin, smart decision. |
|
|
|
- Bought a total of 20 shares out of which 7 have expired.
There's 13 active shares as of now
Cashed out $392.22
Break even in USD will occur this week
After that it'll be net +
Measured in btc i broke even further back since my cashouts happened at an average of $450/btc and my average when initially converted to USD was $635/btc Another believer??? Get ready to get bashed by tons of trolls. |
|
|
|
I made a withdrawal request on saturday and got it processed on monday in due time (within 1 business day). So far nothing to complain about. I have put 1.5k with them a couple of months ago and so far got 1.3k out and 500 "reinvested" so pretty close to breakeven.
No! Dont mention that. You will be attacked and bashed by bunch of people on this thread. They ll tell you how stupid you are, how this is a scam, how they are going to steal your money. Oh, wait, you are about to break even right?  ) |
|
|
|
|
You cannot have zero risk. Even when you have funds to purchase at one exchange and coins to sell on the other exchange at the same time, there is always possibility of the price or quantity changing while you perform your transactions. There are bots on the market which can speed up the entire process but even these bots can make mistakes. There is always risk when dealing with BTC.
|
|
|
|
|
Show Posts
