cryptoheadd
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December 01, 2016, 05:08:51 PM |
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I see. I traded with them and the payment went through (they also offered me a bank payment but i decided to stay with paypal). They process the USD payments via 3rd party processor so I believe I am safe, not sure about the rupees payments though.
Well, best of luck to you mate. I wouldn't recommend using them for any more of your transactions.
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shintosai
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December 01, 2016, 05:19:03 PM |
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"The address mentioned on that site is 10 mins away from where I live. So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
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stoner (OP)
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December 01, 2016, 05:33:37 PM |
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"The address mentioned on that site is 10 mins away from where I live. So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it." In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned). My experience was a pleasant one, so my review still remains positive.
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thehun
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December 01, 2016, 05:34:18 PM |
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This is such an obvious scam it's not even worth to go deeper into the analysis
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avatar_kiyoshi
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Merit: 1000
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December 01, 2016, 05:43:01 PM |
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"The address mentioned on that site is 10 mins away from where I live. So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it." In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned). My experience was a pleasant one, so my review still remains positive. Can you provide with proof of payment? Transaction id and transaction picture? I doubt to your India exchange site you mentioned, because the site looks like copy-cat, I ever see the interface, system even min.deposit is have a same amount.
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el kaka22
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www.Crypto.Games: Multiple coins, multiple games
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December 01, 2016, 06:36:21 PM |
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I have seen these kinds of opportunities since I have been interested in bitcoin. To me it is actually easier to have altcoin exchanges where you can change from X coin to Y coin to Z coin and back to X coin where you make arbitrage income thanks to it. No big deal as I usually do not prefer to trade with fiats, it is always riskier.
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Kevin77
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December 01, 2016, 06:41:40 PM |
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you can change from X coin to Y coin to Z coin and back to X coin where you make arbitrage income thanks to it.
It is completely new thing to me. So far I have tried arbitrage trading across exchanges but with your way of suggestion, I guess if I study in depth the price fluctuations I may get chances to trade within exchanges. In first read I could not understand your idea but now I am realizing it's potential and how often it will be possible.
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Victorycoin
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December 01, 2016, 08:32:55 PM |
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"The address mentioned on that site is 10 mins away from where I live. So, I know that there is no Bitcoin exchange over there. "
very strong statement that will build doubt for sure if this address that has been provided is not existing a possibility of a scam site hope no one got into the net of scammers, arbitrage is good but that big difference from current price is too suspicious better to review and and assess properly before doing any trade.
The simple statement about reviews is: "you cannot review something if you do not have any experience it." In this case it goes: 1. trade 2. review (it cannot be: 1. review 2. trade, as you mentioned). My experience was a pleasant one, so my review still remains positive. In retrospect, whenever the rates from an exchange site is a wide mark off the track, a grand scam is simply in the making - see Mtgox and Cryptsy. The fact they fixed a minimum amount to trade and as high 0.5 Btc and putting Paypal forward as payment system unless one is dealing in the region of 20 Btc, is enough red flags to decipher where all these is headed. The fact, you have gotten away with your first transaction is no guarantee, the next would be all said and done. from experience, they won't strike yet, until a good number of gullible people are off their guard.
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xinzark
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December 02, 2016, 02:32:27 PM |
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I already showed the screenshots fro the trade, but here it is again:
Why do you even mind if they call this website Scam ? I suspect you are the guy behind this They are paying a fuc**ng 10k INR more than the normal rate. That's around 20% No body is so generous dude Edit : Also site looks very basic and Cheap which makes it look even more scammy
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raven7886
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December 02, 2016, 06:12:51 PM |
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They are paying a fuc**ng 10k INR more than the normal rate. That's around 20%
Due to the recent crisis with their currency notes, Indian bitcoin markets are trading around $950 price levels, so bitcoin prices are 20% higher in India than the rest of the world markets. That is the reason OP is discussing about arbitrage trading based on Indian markets and other markets. I guess it is not that easy as it involves fiats and dealing in fiat in India might attract more regulations from their government.
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Jonny Heggheim
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December 08, 2016, 04:54:28 PM |
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Sceptical, domain just registered and only for one year... $ whois btcindia.org [Querying whois.pir.org] [whois.pir.org] Domain Name: BTCINDIA.ORG Domain ID: D402200000000757222-LROR WHOIS Server: Referral URL: http://www.enom.com Updated Date: 2016-11-29T10:22:33Z Creation Date: 2016-11-29T10:19:20Z Registry Expiry Date: 2017-11-29T10:19:20Z Sponsoring Registrar: eNom, Inc. Sponsoring Registrar IANA ID: 48 Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited Domain Status: serverTransferProhibited https://icann.org/epp#serverTransferProhibited Registrant ID: 579e6624edf2fc92 Registrant Name: Bit India Registrant Organization: BTC TRADE INDIA Registrant Street: 52/1, DESH BANDHU GUPTA MARG Registrant City: NEW DELHI Registrant State/Province: NEW DELHI Registrant Postal Code: 110005 Registrant Country: IN Registrant Phone: +91.9911746627 Registrant Phone Ext: Registrant Fax: Registrant Fax Ext: Registrant Email: bit.india@gmx.com Admin ID: 579e6624edf2fc92 Admin Name: Bit India Admin Organization: BTC TRADE INDIA Admin Street: 52/1, DESH BANDHU GUPTA MARG Admin City: NEW DELHI Admin State/Province: NEW DELHI Admin Postal Code: 110005 Admin Country: IN Admin Phone: +91.9911746627 Admin Phone Ext: Admin Fax: Admin Fax Ext: Admin Email: bit.india@gmx.com Tech ID: 579e6624edf2fc92 Tech Name: Bit India Tech Organization: BTC TRADE INDIA Tech Street: 52/1, DESH BANDHU GUPTA MARG Tech City: NEW DELHI Tech State/Province: NEW DELHI Tech Postal Code: 110005 Tech Country: IN Tech Phone: +91.9911746627 Tech Phone Ext: Tech Fax: Tech Fax Ext: Tech Email: bit.india@gmx.com Name Server: DNS1.NAMECHEAPHOSTING.COM Name Server: DNS2.NAMECHEAPHOSTING.COM DNSSEC: unsigned >>> Last update of WHOIS database: 2016-12-08T02:41:40Z <<<
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StarofBTC
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December 08, 2016, 07:20:03 PM |
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Sceptical, domain just registered and only for one year...
Thank you for the useful information. I just checked Indian market bitcoin prices, I believe the prices are converging right now. Yes Indian market prices are getting slashed out maybe with the reason of heavy dump from local/international bitcoiners. Usuaally arbitrage trading opportunities are for short-term and this India based opportunity is almost getting finished off.
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bitjoin
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December 08, 2016, 07:33:49 PM |
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The exchange opperators themselves would be doing the arbing if there is huge profit in it vs actually running the exchange. I did often wonder in the past if BTC-e did this.
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FFrankie
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December 08, 2016, 07:37:24 PM |
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I cannot wait for that 10k paypal payment to be reversed
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cryptoheadd
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December 08, 2016, 08:03:23 PM Last edit: December 08, 2016, 08:15:59 PM by cryptoheadd |
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I cannot wait for that 10k paypal payment to be reversed
IF the payment was actually made, that is. Screenshots can be faked and the OP seemed really interested in getting people to use that service.
Example of a faked screenshot:
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GregH37
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December 08, 2016, 09:13:37 PM |
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I just checked Indian market bitcoin prices, I believe the prices are converging right now. Yes Indian market prices are getting slashed out maybe with the reason of heavy dump from local/international bitcoiners. Usuaally arbitrage trading opportunities are for short-term and this India based opportunity is almost getting finished off.
Yes, converging prices are symptoms of end of possibility of arbitrage trading. But right now Indian market are still trading with enough gaps to make use of. Preev shows $766.7 and Indian exchange unocoin shows prices equivalent of $828.29, more than $50 a good profits to book per one full bitcoin trading instantly.
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ArdiPrabowo
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December 08, 2016, 11:04:02 PM |
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iam first about bitcoinindia org new exchanger or old exchanger, because in coinmarketcap can't find about volume transaction in there fiat money deposit and withdraw, all support payment procesor, transfer in bank(wire transfer), paypal, skrill and more or not or only support paypal
i can see in there only exchange without trading only exchange you must incraese your trust
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ZonedOutDad
Newbie
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Activity: 5
Merit: 0
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December 26, 2016, 08:16:28 AM |
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Stoner is one lucky bastard
Just wanted to shout out that I personally got hit by this and was convinced by stoners version of events. Reporting my experience, I initiated a 0.5 BTC trade but got a odd request to send an additional 1.5 BTC to top-up the trade to 2 BTC as "due to high volume trades we have increased the minimum".
After soul searching and reading stoner posts, Topped-up the 1.5 BTC as requested and BTC India reverted "it was strange it didn't go though... actually our systems needs you to transfer EXACTLY 2.0 BTC".
After a bit of back and forth, they said "we can request a refund if you'd like", after which they went dark.
I'm not one to defame others but if you're reading this, condsider yourself warned. The BTC India website is still up, and I intend to update this if things turn for the better. To anyone who's read this thread and intends to test the waters: No update = this was a total loss.
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