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July 25, 2017, 08:47:26 PM *
News: BIP91 seems stable: there's probably only slightly increased risk of confirmations disappearing. You should still prepare for Aug 1.
 
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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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unclescrooge
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September 13, 2012, 08:34:01 PM
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gweedo
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September 13, 2012, 08:37:21 PM
 #2

Are you using a bot to do the arbitrage or you manually moving the money back and forth?

Want to earn 2500 SATOSHIS per hour? Come Chat and Chill in https://goseemybits.com/lobby
AndyRossy
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September 13, 2012, 08:53:11 PM
 #3

Let just say that I do "arbitrage": I buy low and sell high.

This isnt arbitrage.
AndyRossy
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September 13, 2012, 09:02:52 PM
 #4

Yes, it's to do with price differences, nothing to do with "buy low / sell high".

bare in mind, there are many of bots cross-exchanges doing this, and even more complicated arbs mixing in FOREX/Alt Currenies, e.g. if BTC->LTC->USD is cheaper (puts and asks both exist) than BTC->USD by an amount > cost of fees, execute trade (buy on one, sell on other at same time); or BTC->LTC->USD->GBP vs BTC->PLN->GBP etc.

Anyway I did not mean to trash your thread, and I find the setup interesting - how you can call for more funds,  I'll be watching closely.
Bjork
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September 14, 2012, 12:48:52 AM
 #5

Sounds like a good/interesting idea.  Basically you just want to pre-arrange short notice loans in case you find something to exploit and make more than 2%.  I'd be potentially interested in loaning if this took off.

PsychoticBoy
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September 14, 2012, 10:51:27 AM
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very very intrested Grin
Puppet
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September 14, 2012, 11:16:07 AM
 #7

 good idea indeed. for every 100 BTC you have, you can scam your investors up to 5000 btc.
this coming from the guy who demanded we thank pirate for stealing your coins.:


Now that Pirateat40 closed down his operatations thanks to all the fud that was going on and growing on the forum, I expect
 everyone that spreads this fud, accused and insulted Pirate and the people that supported him to apologize.

Not only did Pirate brought us a great opportunity for investors (once in a lifetime actually), he did help stabilise and grow steadily bitcoin price, volume exchange, and thus contributed to the success of bitcoin. For that, Pirate, I want to thank you. You've done a wonderful work, and I hope you're stay around here.

Now, apologies on.

greyhawk
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September 14, 2012, 11:19:34 AM
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I don't understand?  Huh

Are you suggesting it would be a bad thing to invest with pirate's biggest shill?
OneEyed
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September 14, 2012, 11:25:19 AM
 #9

What are the risks?

Funds freezing by various institutions that hold part of my fiat funds is the main risks, but, beside being unlikely, I do manage it at my best. A high spike in BTC price could also hurt me, but because I mainly do arbitraging, only the profits (your interests) would be at risks. I could die also, but I'm young and in good shape so also unlikely Smiley All in all that's not high risks against the reward.

It's great to see well-identified people propose deals with exposed business models, congratulations.

However, I don't understand how only the profits would be at risk in the example you gave, as shorting a position usually means that the possible loss is unbounded. If you borrow then sell 10 bitcoins at 9€/BTC and you have to buy them back at 12€/BTC, then you will be 2.7 bitcoins short (32.4€) of the 10.2 bitcoins you have to return to your creditor. If the price spikes to 18€/BTC, you will be 5.2 bitcoins short (93.6€). 90€/BTC (let's take the extreme) and you'll be 9.2 bitcoins short (828€), and so on.

(edited to add that the loss is potentially illimited in FIAT, added the corresponding amounts between parentheses)

One thing that is still unclear to me in your proposal would be the risks for the lenders. If, for example, there is a high spike in BTC price as you describe above, would you still be able to reimburse your lenders and pay the 2%, even if it temporarily costs you money to cover the potentially unbounded losses?

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September 14, 2012, 11:32:16 AM
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I don't understand?  Huh

Are you suggesting it would be a bad thing to invest with pirate's biggest shill?

of course not. I'm only warning he will expect a thank you after he ran off with your coins
Shadow383
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September 14, 2012, 11:33:11 AM
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I don't understand?  Huh

Are you suggesting it would be a bad thing to invest with pirate's biggest shill?
I wouldn't call him that - I'd save that title for BurtW...
Namworld
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September 15, 2012, 04:30:50 AM
 #12

And now, a special one for my ponziiiiii friends: but why are you taking loans at such crazy rates instead of taking loans at fiat rates?

I have and will certainly do so again. Fiat rates are better and fiat seems to devalue compared to the booming bitcoin economy. As long as I can afford monthly repayment on the loan, I'll go fiat to BTC anytime.
Justin00
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September 15, 2012, 04:52:30 AM
 #13

why don't you use your own BTC to do this ?



Raoul Duke
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September 15, 2012, 05:05:53 AM
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why don't you use your own BTC to do this ?




because pirate took it and didn't gave it back

Monster Tent
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September 15, 2012, 05:13:12 AM
 #15

To tell you the truth I no longer trust anyone promising 1- 2% a week returns and am considering ignoring anyone who offers such rates as possible scammers.

If you offer such programs youre going on my ignore list.

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September 15, 2012, 08:03:50 AM
 #16

why don't you use your own BTC to do this ?


because pirate took it and didn't gave it back

Nail, meet hammer.

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August 06, 2016, 10:38:20 PM
 #17

everyone ... runaway from this topic... NOW!!!

and for scammer start it ....

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