bitcoin-trader.biz

[niktitan132]

This is a scam ponzi,people should stop to advertise it...

[msarro]

Welp, it appears that they have posted their official company registration info, with folks able to verify with the Panama business registry.

Still waiting on an audit to prove their solvency.

FULL TRANSLATION OF THE DOCUMENT:
No. of Listing: 840,485

Document No.: 2648948

Name of the Company: Bitcoin TRADER HOLDING INC.
Tomo: 0 Page: 0 Seat: 0
Registration Date: 08/04/2014 Status: IN FORCE
No. Writing: Writing 20566 Date: 07/30/2014
Notary: 43
NOTARIA TENTH CIRCUIT
Notary Province: PANAMA
Duration: PERPETUAL Address: PANAMA
Status of the Garment (DEF-FINAL PRE-PRELIMINARY)

Data 1a. Flat Rate
Ballot: 1400130525 Payment Date: 07/31/2014
Resident Agent: NANCY ORANTES

Data Journal
Tomo: 2014 Seat: 142753

Microfilm Facts
Roll: 0 Picture: 0

Currency: American dollars.
Principal Amount: 10,000.00

Capital
SHARE CAPITAL OF THE COMPANY IS DIVIDED INTO TEN HUNDRED THOUSAND DOLLARS
SHARES THAT MAY BE REGISTERED OR THE INTERCHANGEABLE CARRIER A
AS FOR THE OTHER A REQUEST FOR ALL YOUR DREAM WITH A NOMINAL VALUE
HUNDRED DOLLARS EACH.

Legal Representative
THE LEGAL REPRESENTATIVE OF THE COMPANY IS THE PRESIDENT COULD
EXERCISE THAT ALSO BY THE SECRETARY OR TREASURER OR
PERSON APPOINTED BOARD WITH THIS PURPOSE.
Title name Dignitary Dignitary
PRESIDENT JOHN CARLEY
TREASURER EDGAR ROSE
SECRETARY EDGAR ROSE

Name of Directors
JOHN CARLEY
EDGAR ROSE
CARLOS ECHEVERRIA

Name of Subscribers
NANCY ORANTES
MARIANA ORTEGA

Job Details

Dissolution, Bankruptcy, Fusion, Redomicilio Provisional or Definitive Transformation
Rollo: Image:
Micro-Date:

Data Journal
Tomo: Seat:

Writing Data
Number: Date:
Notary: State:
Exchange Act:

And

The company has as objectives and purposes the following: a) The performance of any commercial or financial transactions, sale or provision of services, mainly through electronic commerce. “Bitcoin Mining”, acquisition and crypto currency exchange and related services. b) and c) are standard clauses that we can buy and lease real estate and and own or hold shares of other companies. d) To engage in the purchase, sale and trade of corporate shares, bonds, and securities of any type or description. e) to act as an agent on behalf of natural or juridical persons. f) The promotion and/or participation, passively or actively in investment projects or investments of any other nature. And some other non relevant provisions.

Signed by Luisa A. Villareal, Chief Reg

[PilotofBTC]

Registration Date: 08/04/2014 Status: IN FORCE
No. Writing: Writing 20566 Date: 07/30/2014
Notary: 43
NOTARIA TENTH CIRCUIT
Notary Province: PANAMA
Duration: PERPETUAL Address: PANAMA
Status of the Garment (DEF-FINAL PRE-PRELIMINARY)

Data 1a. Flat Rate
Ballot: 1400130525 Payment Date: 07/31/2014

Those seem to be US formatted dates, given the 7/31/2014 date. So, they just registered 8 days ago?

[Illutian]

Registration Date: 08/04/2014 Status: IN FORCE
No. Writing: Writing 20566 Date: 07/30/2014
Notary: 43
NOTARIA TENTH CIRCUIT
Notary Province: PANAMA
Duration: PERPETUAL Address: PANAMA
Status of the Garment (DEF-FINAL PRE-PRELIMINARY)

Data 1a. Flat Rate
Ballot: 1400130525 Payment Date: 07/31/2014

Those seem to be US formatted dates, given the 7/31/2014 date. So, they just registered 8 days ago?

It appears their agent in charge of handling their Panama registration didn't properly communicate [with the registration office???] so there were unanswered questions.
((https://www.facebook.com/groups/bitcointrader/  --sorry, Facebook is retarded and doesn't appear to allow direct linking to Group posts in at least a 'read-only' format))

Yes the reason for it laying around for months was some open questions in regard to our business activities and the previous agent not communicating properly. Now we are allowed to undertake different activities under Panamanian law, I will post an excerpt by tomorrow or Monday.

--Main post was made August 9th, 2014 @ 12:01 PM [EST]

They also appear to be looking into signing up for a BitLicense (that New York thing)....I asked, so I can't confirm yet.

[rhader]

I am no longer doing weekly updates on my shares 139 shares. I will be doing either bi-weekly or monthly. The amount of incoherent rambling on this thread is intolerable. Here is the update, everything is going very smoothly still.

https://i.imgur.com/1vGn2jN

By Nov. 23rd I should have my initial investment. BT Trader could be a scam, no doubt. For me, its within an acceptable degree of risk for my 4 btc. Again, only invest what you can afford to lose. Some people here seem to have forgotten that this is my money, not yours. If I lose it, so be it. So far though, you have missed 8 months of spectacular returns.

[Hfleer]

I am no longer doing weekly updates on my shares 139 shares. I will be doing either bi-weekly or monthly. The amount of incoherent rambling on this thread is intolerable. Here is the update, everything is going very smoothly still.

https://i.imgur.com/1vGn2jN

By Nov. 23rd I should have my initial investment. BT Trader could be a scam, no doubt. For me, its within an acceptable degree of risk for my 4 btc. Again, only invest what you can afford to lose. Some people here seem to have forgotten that this is my money, not yours. If I lose it, so be it. So far though, you have missed 8 months of spectacular returns.

Why do you even report at all? If it is a scam, and even if it is by off-chance, do you really want other people to lose money because of you?

[capoeira]

I am no longer doing weekly updates on my shares 139 shares. I will be doing either bi-weekly or monthly. The amount of incoherent rambling on this thread is intolerable. Here is the update, everything is going very smoothly still.

https://i.imgur.com/1vGn2jN

By Nov. 23rd I should have my initial investment. BT Trader could be a scam, no doubt. For me, its within an acceptable degree of risk for my 4 btc. Again, only invest what you can afford to lose. Some people here seem to have forgotten that this is my money, not yours. If I lose it, so be it. So far though, you have missed 8 months of spectacular returns.

Why do you even report at all? If it is a scam, and even if it is by off-chance, do you really want other people to lose money because of you?

He probably is from the "team"

[vach]

Welp, it appears that they have posted their official company registration info, with folks able to verify with the Panama business registry.

Still waiting on an audit to prove their solvency.

FULL TRANSLATION OF THE DOCUMENT:
No. of Listing: 840,485

Document No.: 2648948

Name of the Company: Bitcoin TRADER HOLDING INC.
Tomo: 0 Page: 0 Seat: 0
Registration Date: 08/04/2014 Status: IN FORCE
No. Writing: Writing 20566 Date: 07/30/2014
Notary: 43
NOTARIA TENTH CIRCUIT
Notary Province: PANAMA
Duration: PERPETUAL Address: PANAMA
Status of the Garment (DEF-FINAL PRE-PRELIMINARY)

Data 1a. Flat Rate
Ballot: 1400130525 Payment Date: 07/31/2014
Resident Agent: NANCY ORANTES

Data Journal
Tomo: 2014 Seat: 142753

Microfilm Facts
Roll: 0 Picture: 0

Currency: American dollars.
Principal Amount: 10,000.00

Capital
SHARE CAPITAL OF THE COMPANY IS DIVIDED INTO TEN HUNDRED THOUSAND DOLLARS
SHARES THAT MAY BE REGISTERED OR THE INTERCHANGEABLE CARRIER A
AS FOR THE OTHER A REQUEST FOR ALL YOUR DREAM WITH A NOMINAL VALUE
HUNDRED DOLLARS EACH.

Legal Representative
THE LEGAL REPRESENTATIVE OF THE COMPANY IS THE PRESIDENT COULD
EXERCISE THAT ALSO BY THE SECRETARY OR TREASURER OR
PERSON APPOINTED BOARD WITH THIS PURPOSE.
Title name Dignitary Dignitary
PRESIDENT JOHN CARLEY
TREASURER EDGAR ROSE
SECRETARY EDGAR ROSE

Name of Directors
JOHN CARLEY
EDGAR ROSE
CARLOS ECHEVERRIA

Name of Subscribers
NANCY ORANTES
MARIANA ORTEGA

Job Details

Dissolution, Bankruptcy, Fusion, Redomicilio Provisional or Definitive Transformation
Rollo: Image:
Micro-Date:

Data Journal
Tomo: Seat:

Writing Data
Number: Date:
Notary: State:
Exchange Act:

And

The company has as objectives and purposes the following: a) The performance of any commercial or financial transactions, sale or provision of services, mainly through electronic commerce. “Bitcoin Mining”, acquisition and crypto currency exchange and related services. b) and c) are standard clauses that we can buy and lease real estate and and own or hold shares of other companies. d) To engage in the purchase, sale and trade of corporate shares, bonds, and securities of any type or description. e) to act as an agent on behalf of natural or juridical persons. f) The promotion and/or participation, passively or actively in investment projects or investments of any other nature. And some other non relevant provisions.

Signed by Luisa A. Villareal, Chief Reg

Guys where are you getting those audit news? I'm missing something, what document is that?
Any links please.

[crazyivan]

This is from their FB page.

[sunny1]

Strange how all of a sudden the Dicebitco.in promoters are flooding the BT threads. Posting a lot of FUD, shouting SCAM here and there, while promoting a questionable scheme that is just two weeks or so old. Damn hypocrites!

I've been calling out BT as a ponzi scheme for way longer than that and I'm not promoting anything

I didn't talk about you.

No, but you tried to dismiss other posters being critical based on the claim that they're shills for a competing website. By stating that not all posts critical of BT have come from people meeting those criteria, I tried to pull the focus back to the underlying matter: All signs point to BT being a Ponzi scheme and its supporters have provided to substantial reasoning to put doubt to that.

The point is that nobody really cares.

[Hfleer]

Nice strawman tactic sunny1!

[rammy2k2]

it looks to me they just registered a company in panama for some cash, and thats all

[Hfleer]

it looks to me they just registered a company in panama for some cash, and thats all

exactly, they spent 2000$ for that and this adds nothing to credibility. As you can setup anonymous corporations without regulations there.

[BombaUcigasa]

The truth is staring you in the face. Only some people are trained to see it. Usually takes a few uni courses and I have a diploma to back it up. Let's explore the data that is publicly available on the site (under the site's own licence to use for informational non-commercial actions (without actually showing any of the site's data)).

First, let's look at a timeline of the trading results product, advertised for a sum close to 19.99$ for about 17 weeks, with a promised performance of definitely less than 3.1%:


I will make some general observations:
- the red line is more squiggly than the blue line, that's because it's the actual data while the blue line is an average (to be used with other averages)
- the results are dropping in value from about 1.3%-ish to 0.7%-ish, even though the investors do not get their results compounded (it gets pocketed)
- the results never go above 2.51%, closer to the promised maximum value
- sometime during April, the high volatility of the results has decreased drastically and the last sub-zero result is detected, this could be because they changed their methods or algorithms or became more competent at avoiding negative results (while obtaining more mediocre overall results)

Conclusion: while there is no indicative information of the health and functionality of the results yet, we can only observe that for a significant amount of time, the promised results are at 25% of maximum.

[BombaUcigasa]

So how exactly does it work? What happens that causes the profits to vary? Let's look at the price variation:


It's certainly not the price, there is no visible correlation between what price there is and the results. This is what it looks like when we check the bitcoin price and the bitcoin volume:



The volume is all over the place, but more concentrated around the average prices.

[BombaUcigasa]

Is it based on volume of transactions?


It does seem that sometimes the results are proportional to increased volume, while sometimes they are inversely proportional. The raw data doesn't help much here either:

[BombaUcigasa]

As seen above, the bitcoin price has a rather "natural" curve distribution, as well as the trade volume, looking at the results the curve is broken in the two time periods, before April and after April:



With the 20% commission, the two curves indicate a preference for 1.6% and 1.3%. The numbers appear naturally distributed, the only comment would be about the product details numbers which are not indicative of the results.

[johny08]

With the 20% commission, the two curves indicate a preference for 1.6% and 1.3%. The numbers appear naturally distributed, the only comment would be about the product details numbers which are not indicative of the results.

Very comprehensive work.

I am not a pro. How do you interpret this sentense? What does it say to you?

- the return would continue being between 1.3 and 1.6 when there would not be the break in april?

[alani123]

With the 20% commission, the two curves indicate a preference for 1.6% and 1.3%. The numbers appear naturally distributed, the only comment would be about the product details numbers which are not indicative of the results.

Very comprehensive work.

I am not a pro. How do you interpret this sentense? What does it say to you?

BombaUcigasa, I'd like to know more about your personal opinion and how you interpret this data as well. It doesn't say much on it's own.

[johny08]

looking at the results the curve is broken in the two time periods, before April and after April

they are saying they opened a new office in china and hired two new trader for implementing chinese exchanges in their system. the result of that, they claimed were flater results and less negative trading results. that could be the explanation for that and not a secret at all.