bitcoin-trader.biz

[msarro]

latest news from their FB page is :

The server Blockchain download is still ongoing. Bitcoin withdrawal requests will be completed soon. Thank you for your patience.

What makes no sense is sending a payment doesn't require you have the blockchain fully downloaded and updated. You just have to broadcast the transaction.

[1714100086]

1714100086

[1714100086]

1714100086

[vivalavito]

latest news from their FB page is :

The server Blockchain download is still ongoing. Bitcoin withdrawal requests will be completed soon. Thank you for your patience.

Any further update TraderThom? Have the recent events caused you to doubt their legitimacy even a tiny bit? (assuming you aren't "in" on it )

[fingertoe11]

Perhaps they are still on 56k dial-up down there in Panama.   The Blockchain might take a bit.. 

[shmoula]

Umm, why are so impatient, kids? You "invested" into something weird and you have to take that risk. But I think problems were explained clearly and it makes sense. I am not sure how fast is blockchain downloads on fast line, but at my home it takes a few days and no, I don't have a 56k modem.

What makes no sense is sending a payment doesn't require you have the blockchain fully downloaded and updated. You just have to broadcast the transaction.

I do not agree - if they are using bitcoind, they need to have downloaded blocks with income transactions to be able to send that money out.

[Puppet]

I do not agree - if they are using bitcoind, they need to have downloaded blocks with income transactions to be able to send that money out.

You wouldnt be implying they are sending out bitcoins that other customers deposited, right? I mean, thats how a ponzi works .
Or put differently, ask yourself how they can "trade" with no problems, but cant send out bitcoins to investors.

Anyway, its a moot point. bitcoin trader is a glaringly obvious ponzi and it wont take long for everyone to see that. They are just stalling, they will soon come up with other excuses and delays but the money isnt there, it never existed.

[Puppet]

Many Ponzi schemes share common characteristics. Look for these warning signs:

- High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.
Check
- Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
Check
- Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.
Check
- Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
Check
- Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Check
- Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
Check
- Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.
Check

http://www.sec.gov/answers/ponzi.htm

[shmoula]

I hope (ane believe) their trading wallet and "investor payments" wallet are two (or more) separated wallets! So basicaly - yes, they can wait for other user deposit to pay other user out, while theyre not doing ponzi (because skip the step to send money to trading wallet and in a while withdraw another amount from that wallet)

You wouldnt be implying they are sending out bitcoins that other customers deposited, right? I mean, thats how a ponzi works .
Or put differently, ask yourself how they can "trade" with no problems, but cant send out bitcoins to investors.

Anyway, its a moot point. bitcoin trader is a glaringly obvious ponzi and it wont take long for everyone to see that. They are just stalling, they will soon come up with other excuses and delays but the money isnt there, it never existed.

[rammy2k2]

Latest FB news :

Our server has now downloaded 60% of the blockchain and is continuing. The issue of transferring between exchanges is an automated system. The amount BT has available in each payment processor is partly available to our investors to use for internal exchanges between currencies. Because of the volume of "currency" exchanges experienced, some of these have now become unavailable. Again we apologize for the inconvenience,there is nothing we can do at the moment to speed up the process.

[Illutian]

Many Ponzi schemes share common characteristics. Look for these warning signs:

- High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.
Check
- Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
Check
- Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.
Check
- Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
Check
- Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Check
- Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
Check
- Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over.
Check

http://www.sec.gov/answers/ponzi.htm

sounds a lot like the US Government too

[rammy2k2]

Today's Trading Pool results: 0.00%

LOL ? its no joke, it has been posted on FB

[Illutian]

rofls... 0.00%

BT is definitely going to be getting a lot of 'cashouts' when the servers come up....assuming they eventually do.

[msarro]

I just got banned. Again. And got verbally attacked by what is presumably a sock puppet because I mentioned that they're not very professional to users who were requesting more frequent updates (1 update a day is not acceptable when folks have thousands invested). They promised that everything would be handled in 48 hours. We're past 72 hours now.

All transfers from BTC to other currencies are blocked.

The Michael B mysteriously went on "vacation" the day that everything went down.

I feel the worst for the one guy who was posting a day or two ago who had 20,000 USD invested who was in a full on panic.

[redwraith]

Newest Twitter:   "BT server completed blockchain download and busy with maintenance to ensure no further issues in future.Thank you for your patience."

[Phantomofheat]

Now the count down begins.

When will the first payment be received.

[conspirosphere.tk]

Now the count down begins.

Not now: I'm waiting my withdrawal from monday. It's already day 4

[planecrash]

What makes no sense is sending a payment doesn't require you have the blockchain fully downloaded and updated. You just have to broadcast the transaction.

At this point I believe that BT is just one of a thousand HYIPs out there.  However, I must disagree with this particular statement.  Most BTC companies require the ability to generate new random addresses on the fly for deposits, and what not, as well as a wide range of other functions that are accomplished using API commands directed at full node.  The full node does all the heavy lifting, and their software just shoots off commands and receives responses.  There may be public nodes, that are accessible, out there, but I am not aware of any.  Most companies choose to keep their business critical node, internally, to control variables like performance, security, etc.

Reference: I develop BTC apps that require full node API access for heavy lifting regarding customer deposits and balances.

[msarro]

What makes no sense is sending a payment doesn't require you have the blockchain fully downloaded and updated. You just have to broadcast the transaction.

Most BTC companies require the ability to generate new random addresses on the fly for deposits, and what not, as well as a wide range of other functions that are accomplished using API commands directed at full node. 

That's the rub though. We aren't talking about deposits, we're talking about sending the bitcoin from the BT account to the people who placed withdrawals. Sending from their wallet, not receiving on their wallet.

[WBF1]

What makes no sense is sending a payment doesn't require you have the blockchain fully downloaded and updated. You just have to broadcast the transaction.

Most BTC companies require the ability to generate new random addresses on the fly for deposits, and what not, as well as a wide range of other functions that are accomplished using API commands directed at full node. 

That's the rub though. We aren't talking about deposits, we're talking about sending the bitcoin from the BT account to the people who placed withdrawals. Sending from their wallet, not receiving on their wallet.

For what it's worth, my past cashouts from BT have been from new addresses. Also, it is considered best practice to generate a new address with each send.

[planecrash]

That's the rub though. We aren't talking about deposits, we're talking about sending the bitcoin from the BT account to the people who placed withdrawals. Sending from their wallet, not receiving on their wallet.

The word "deposit" was just a single function I pulled out of a hat to signify business critical processes handled by a full node, but is by no means the only one.  For a complete API reference, please, refer here.  It is not unreasonable, at all, to assume that their management tool (shadow scripts) relies completely on this API for any, and probably all, BTC related activity.  Attempts to process cashouts, manually, outside of their management tool, though possible, in theory, would almost certainly have a negative impact on the integrity of the data stored in their management tool's DB.

Now, whether this is really what is happening, or just another excuse to buy them 5 more days of covering their tracks and milking a few more bucks out of duping more saps into "investing", remains to be seen.  We'll know on Monday or Tuesday.  I'm place my bets on HYIP/Ponzi (1% daily, really!?), but I like to think that $2 mil isn't enough to run off with and they are hoping to keep it going until they get to double digits.

[fingertoe11]

I did notice that 2 of 3 Casimir1904's Bitcoin trader deposits he reported on (page 69) did get moved today..

That's something..