bitcoin-trader.biz

[Aahzman]

hello,

I am not sure of bitcoin-trader cut.  The representatives make .08% for every referred person.  I am just the representative for bitcoin-trader, if you want to get in direct contact with the company please use the contact page on their site.
thank you

As others have pointed out, for a "representative", you seem to know only two things about Bitcoin-Trader.biz: Jack and shit.

You are not listed as a representative on the area representatives page.  There is no mention of a VIP program anywhere on the page, so I can't verify that "VIP" earn 0.08% (of what?) per referral in their downline.  ALL affiliates earn a 5% commission on any shares purchased by their downline associates.  They do not earn a % of their downline's daily earnings. They do not earn anything just for referring someone.

So, I seriously doubt you are a representative, but rather you're just someone trying to generate referrals through bullshit and sneakery.

In conclusion: Fuck you.

[1714893021]

1714893021

[1714893021]

1714893021

[1714893021]

1714893021

[1714893021]

1714893021

[sunny1]

We shall see, but nobody can say that it don't smell fishy as hell...

If you got in early enough and got all the money back that you invested and don't plan to invest any more than your profits, then your risk has been reduced to nothing. If everyone did that then it would obviously not be able to stay around for long if it was a scam, but I am going to bet that most people are not going to reinvest only their profits.

Getting into the beginning of a ponzi scheme and making out like a bandit with the full knowledge that you could be participating in the theft of others money even though you don't know for sure has some ethical questions.

It is a gamble no matter what way you look at it, but don't gamble thinking that if it is a scam and you get out soon enough that you will have come out smelling rosey. You will have participated in the theft of others, and the idea of that just doesn't sound ethical to me. Even though you can't know for sure until after the fact, it is still something to think about.

I dismissed ethical thoughts since my government raised the retirement age from 60 to 65 and by 2029 it will be 67, since the state pension fund is a confirmed ponzi scheme. Needless to say that I will get the same pension as pensioners that previously retired at 60.

[moriartypants]

You are not listed as a representative on the area representatives page. 

His email address and referral link are listed under the United States section as Mark Ryan. 
Although It's hard to think of someone as a 'representative' whose response to inquiry is to 'contact someone else'. 

I asked this a while back this was the response.

1. Once the implementation of the Coindesk price index is done (that can be as soon as tomorrow) deposits and withdrawals will be calculated with the Coindesk index.

2. When calculating the new mining pool conversion rate for March, the Coindesk index history will be used.

The fees, or in other words our profits are already factored into the earnings. At the end of each day, once I get the results from our two traders, I deduct our profit margin before posting the daily earnings.

If you are curious about the percentage, it's 20%. For example, if we realise 1.5% on a certain day, 1.2% will be paid to our members. We will lower the fees and thus increase the daily earnings once we have more volume to trade with.

Please let us know if we can be of further assistance.

With best regards,
John Carley

Thanks for posting that.  I asked similarly back in January and Brandonberg was a little less forthcoming. He said that traders retained a percentage of the daily profits but didn't tell me how much. 

[romang]

-0.36% in the trading pool today.

Historically, when there is a loss, do they take it back out of your current wallet? Or is it just against the principal they use to trade?

I'm not sure I will check in the morning when they send me an email,I'm thinking that it won't come out of your wallet though.

Following up on this, it looks like they removed 7 cents/trading share from the e-wallet today. I had a positive balance so not a big deal. I'm not sure if they'd send you into the negatives if you withdrawal every day or if they'd just take it from your next day's earnings.

I have a negative balance today no big deal u win some and loose some. The bigger picture on this is more important only time will tell.

[hypersire]

We shall see, but nobody can say that it don't smell fishy as hell...

If you got in early enough and got all the money back that you invested and don't plan to invest any more than your profits, then your risk has been reduced to nothing. If everyone did that then it would obviously not be able to stay around for long if it was a scam, but I am going to bet that most people are not going to reinvest only their profits.

Getting into the beginning of a ponzi scheme and making out like a bandit with the full knowledge that you could be participating in the theft of others money even though you don't know for sure has some ethical questions.

It is a gamble no matter what way you look at it, but don't gamble thinking that if it is a scam and you get out soon enough that you will have come out smelling rosey. You will have participated in the theft of others, and the idea of that just doesn't sound ethical to me. Even though you can't know for sure until after the fact, it is still something to think about.

The only thing that smells fishy here is you, as you either a) created an account on Bitcointalk for the first time ever or b) created a sock puppet account for the sole purpose of spreading FUD in this thread. Let's look at what you are trying to convey in your post:

1) this smells fishy
2) this is a ponzi scheme
3) this is a gamble
4) we should think about the ethics of the whole thing

No problem, I've thought about it and I've determined that you obviously have some sort of ulterior motive for posting here so my recommendation to everyone is to put you on ignore.

[romang]

"BTW, if you would have investigated a bit further you could easily find that they not only accept Bitcoin. I have deposited with OKPay and PexPay and both accounts are verified in the name of John Carley. Both processors are known for a strict verification policy."

This is plus!

[Aahzman]

You are not listed as a representative on the area representatives page. 

His email address and referral link are listed under the United States section as Mark Ryan. 
Although It's hard to think of someone as a 'representative' whose response to inquiry is to 'contact someone else'. 

I asked this a while back this was the response.

1. Once the implementation of the Coindesk price index is done (that can be as soon as tomorrow) deposits and withdrawals will be calculated with the Coindesk index.

2. When calculating the new mining pool conversion rate for March, the Coindesk index history will be used.

The fees, or in other words our profits are already factored into the earnings. At the end of each day, once I get the results from our two traders, I deduct our profit margin before posting the daily earnings.

If you are curious about the percentage, it's 20%. For example, if we realise 1.5% on a certain day, 1.2% will be paid to our members. We will lower the fees and thus increase the daily earnings once we have more volume to trade with.

Please let us know if we can be of further assistance.

With best regards,
John Carley

Thanks for posting that.  I asked similarly back in January and Brandonberg was a little less forthcoming. He said that traders retained a percentage of the daily profits but didn't tell me how much. 

Hm. so he is. I stand corrected, and I apologize for that error.

Everything else i said, however, still valid.

[romang]

Final update on the mining rig picture topic. I just got this email today. I am drawing no conclusions and so far I have been happy with bitcoin trader.biz  services

My name and email is removed from the message

-- do not edit --



A customer support staff member has replied to your support request, #231091 with the following response:

Hey *****

We would appreciate if you accept John's decision in this matter.

Thanks!

We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email.

With best regards,
Michael Brandenburg
Head of Marketing & Business Development
Bitcoin Trader

[Aahzman]

Because the one time they DID respond to a request, the person who made the request was a jackass about it and came back with "how do i know that's not photoshopped? how do i know that's john in the picture and not somebody they hired?"

I'd be pretty annoyed too, if I hauled myself over to the datacentre, had a pic taken, only to have the results questioned in such a rude manner.

[romang]

Cash balance is now positive again after Fridays earnings.

[romang]

Got this email today very impressed. Thoughts anyone?



Bitcoin Trader is pleased to announce the launch of our Spanish and Italian webpages.

At Bitcoin Trader we believe that providing the best service to our clients and prospective clients is of the highest importance. It is of essence that the client understand everything he/she needs to know about our business and what we have to offer. Getting this information in one's native tongue will ease this process.

Currently a Portuguese version is in the make, that should be available within two weeks. We estimate that our Russian and German webpages will be online by the end of April.

Please note that due to the nature of our web app, currently only frontend pages can be translated.
 
    
    
The current state of Bitcoin
 
    

We've hit the lowest price so far in 2014; one Bitcoin is now worth about half its value compared to three months ago, as the market is still searching for a bottom. Many expect the bottom to be around USD 400 and the order books of some of the exchanges seems to confirm this prediction. Bitstamp alone has bids for 5000+ Bitcoins in the region of USD 400 ± USD 5 at the time of writing.

We must also consider that the current market is highly manipulated by a very few high volume traders who are taking full advantage of the current situation. I can't blame them, it's part of cryptos in general, but I would like to have a bit more stability in the market. In addition the few exchanges we have are acting sometimes kinda surreal. I give you an example, by quoting a recent comment I read on Coindesk:

"These exchanges make no sense to me. Buy .25 bitcoin, price goes up $.75. Buy 12 bitcoin and price goes up $.05. Makes no sense to me."

I totally agree with this guy - he is right. I have observed such bizarre market movements many times, despite any indication why it is moving this way or that way, i.e. low or high trade volumes at the time of the trade etc.

Bitcoin is still creating massive controversy in the media. Often about its risks, dangers, and dubious mainstream appeal. On the other side we have good news as well, plenty of good news to be frank: More and more large retailers are accepting Bitcoin for purchases. In The Hague [Netherlands] a joint initiative of restaurants and pubs led to the 'Bitcoin Boulevard' a street where all joints in the street are accepting Bitcoin. Almost every day somewhere a Bitcoin ATM is going into service. The IRS "property" classification for Bitcoin reaffirms it's status as digital gold. To name just a few examples.

No doubt, Bitcoin is becoming mainstream and I am bold enough to argue that the current Bitcoin price is undervalued - if not a joke!
 
    
    
Trading update
 
    

While trading went well for most of March, we had the first loss day in over three months last week. The reason was very slim spreads among all exchanges during Bitcoins 'free fall' and thus existing opportunities expired before our trades concluded.

The chart below taken from Coindesk, our official Bitcoin Price Index source, is illustrating how close the exchanges are currently.



The spreads between the exchanges remain very slim since, but we are confident that we can still deliver around 20% earnings per month, even if the situation remains unchanged.
 
    
    
Mining update
 
    

While price hikes and drops are good for arbitrage trading, mining with the ever increasing difficulty needs a stable and gradually increasing Bitcoin price.

Unfortunately Bitcoin lacks any fundamentals that anchor the Bitcoin price, as there are for most assets, despite the high costs of mining equipment and the recurring costs of electricity. Anchors that are factored in the prices of natural resources like oil, gas, gold or diamonds for example.

As from tomorrow the hashing rate per share will be increased to 10 GH/s per share. We remain confident that our mining shares will remain profitable in the months to come.
 
    
    
Join our Social Network
 
    

Bitcoin Trader has a social networking presence on Facebook, Twitter and Google+. Our official pages keeps you updated with daily results, news and important announcements.

We recommend to all our clients to join at least one of our online communities to keep yourself informed and updated about our services.

Thanks for reading and our warmest regards,
John Carley
 
 
 
Copyright © 2014 Bitcoin Trader - All rights reserved.
 

[msarro]

I also got the newsletter, which was pleasant. I now have a total of 19 shares (sold some IRL stock to pay off a loan and had a few hundred dollars left over and figured hey, why not).

Nothing else goes in until I've made my money back.

[romang]

Another profit for 4/1/14

[cacahouette]

I cannot connect securely to bitcoin-trader.biz right now. Receiving an ssl certificate error which tells me i am connecting to ssl2000.cloudfare.com instead of bitcoin-trader.biz. I have attempted from multipler browsers (safari, chrome) and multipler computers (both mac os x 10.9).

some people on twitter seem to be reporting similar problems for coinex and mintpal...so was wondering what's going on!

thx

[sunny1]

I cannot connect securely to bitcoin-trader.biz right now. Receiving an ssl certificate error which tells me i am connecting to ssl2000.cloudfare.com instead of bitcoin-trader.biz. I have attempted from multipler browsers (safari, chrome) and multipler computers (both mac os x 10.9).

some people on twitter seem to be reporting similar problems for coinex and mintpal...so was wondering what's going on!

thx

If other sites using cloudflare are having the same problem, it's probably a cloudflare issue.

[@msteramned]

Just logged in and cashed out. Seems to be business as usual.

[romang]

I cannot connect securely to bitcoin-trader.biz right now. Receiving an ssl certificate error which tells me i am connecting to ssl2000.cloudfare.com instead of bitcoin-trader.biz. I have attempted from multipler browsers (safari, chrome) and multipler computers (both mac os x 10.9).

some people on twitter seem to be reporting similar problems for coinex and mintpal...so was wondering what's going on!

thx

No problems here.

[Killerloop]

what bitcoin-trader does not disclose is the capacity of their strategy. Any arbitrage strategy can work as long as you do not kill your own profitability with market impact. If they become too popular and get too much inflow they will either
1) hurt their profitability
2) close themselve to new in-flows

the only reason i see why you would not trade on your own account from day one is because you have too little capital compared to your optim capacity. Therefore by accepting client money and splitting the profit you allow yourself to reach your optimal capacity faster but after that stage you should shut down like usually hedge funds do (see RenTech as extreme example of that)

hope this helps!

Hi, I am the italian representative of Bitcoin Trader. I just joined the forum and spotted this post. I will tell you everything I know.

What cacahouette said is correct. When Bitcoin Trader will no longer be able to profit from arbitrage there is still no reason for them to steal our money. They will just post 0% earnings and spend that money somewhere else until contract expiration. Why risk legal problems in a win-win situation where users basically buy your 0% bond and are happy to be refunded at 100% value?
The same thing is true for mining contracts.

Now on to some information:

The company headquarters is located in the London area. They do not offer phone support because that would overwhelm them; representatives like me are paid (hopefully!) for assisting customers and answer their questions.
If you have an account with at least 20k$ you are allowed to meet John Carley at their office in London to discuss additional opportunities. 20k$ not 50k$.

I have no information about their mining rig, except that as of today it should have the hashing power of 5-6 CoinTerra IV. I guess that if you are able to arrange a meeting with mr. Carley he will show you their rig.

Currently there are no open job positions, not even as traders. They are currently not interested in people trading for them in either Saturday or Sunday.

When the trading pool has a negative earning losses are not deducted from your share value or E-wallet, instead your cash balance will be debited. If this sends it in the negatives it will compensate with the next positive earning.
Trading Pool earnings are only credited from Monday until Friday. In addition they observe UK public holidays, where no earnings are credited.
Mining Pool earnings are non-stop of course.

The processor you use for depositing funds is the one you will have to use for cashouts. Otherwise you will have to pay a conversion fee from 1% up to 3%.

That's all I guess, everything else was already said by moriartypants.

PLEASE NOTE: I do not intend to step over anyone here. Always use your local representative:)
Italians are welcome to contact me of course.

[matsrg]

Hi, thanks for the information!
All information about our friends at bitcoin-trader is of great value.
BR

[Aahzman]

Howdy gang. I have recently been selected as a local area rep for the Greater Toronto Area in Canada (i'm sure there will be more, it's a fairly sizeable area/population).  

Killerloop has covered it pretty thoroughly, but if anybody in the Toronto area (or anywhere else) is signing up and are having trouble with funding the e-wallet or other aspects of the website, I'm happy to try and help get you sorted out.

bitcoin-trader.biz/?ref= [ref removed]