bitcoin-trader.biz

[fingertoe11]

For each of the about 14 BTC, you get an average 10 USD profit, so you get 1400 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 1400 USD / 0.8% = 175000 USD total.

Is it far fetched that they had 175000 USD or 437 BTC from client funds?

Last I checked 14*10 was 140, not 1400.   

[BombaUcigasa]

For each of the about 14 BTC, you get an average 10 USD profit, so you get 1400 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 1400 USD / 0.8% = 175000 USD total.

Is it far fetched that they had 175000 USD or 437 BTC from client funds?

Last I checked 14*10 was 140, not 1400.   

Corrected.

[pawlo74]

PexPay withdrawals still work, weird?

and that:

Thomas Opperman:
"Howard,no comapny would spend the amounts BT spent on advertising and sponsorships if they plan to disappear. The NABCGT is only the half of it. we were paying deposits for events in November the day before John "went missing". If he wanted to steel our cash he wouldn't have wasted so much on stuff that he wasn't planning to complete."

I am not that stupid I think that is over we lost our money but what about that above ?

[Keyser Soze]

Bitstamp had 17000 BTC volume today. Supposedly you are only on one side today (another exchange has a constantly deviated price in the same direction) and can control 5% of the market without impeding your operation. That means you can arbitrate 17000 / 2 / 20 = 42.5 BTC. Now you only work 8 hours, so divide by 3: 14.1 BTC.

For each of the about 14 BTC, you get an average 10 USD profit, so you get 140 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 140 USD / 0.8% = 17500 USD total.

Care to explain your math and assumptions in more detail? Besides the volume, I don't see where the rest of it comes from.

[Rannasha]

PexPay withdrawals still work, weird?

and that:

Thomas Opperman:
"Howard,no comapny would spend the amounts BT spent on advertising and sponsorships if they plan to disappear. The NABCGT is only the half of it. we were paying deposits for events in November the day before John "went missing". If he wanted to steel our cash he wouldn't have wasted so much on stuff that he wasn't planning to complete."

I am not that stupid I think that is over we lost our money but what about that above ?

Ponzi schemes typically last until the withdrawals start to outpace the deposits. The operator (John) may have planned on carrying on much longer, but instead encountered a drop in new deposits or increase in withdrawals and decided to pull the plug.

[msarro]

I found a picture of John Carley!!!!!!!

[Illutian]

I know this makes me a bad person. But "ROFL" at some of the comments on the "Help Find John" post by the PR guy. Some actually believe in mounting a 'search & rescue'.


AHAHAHA! And now "Thomas" is having Internet issues and can't respond promptly.

[fingertoe11]

Latest gossip is that John has emerged from the sea and contacted the staff by email.   

They are not divulging the contents of said email though..

Faith could be strengthened by a death and resurrection, I suppose.. 

[Illutian]

Latest gossip is that John has emerged from the sea and contacted the staff by email.   

They are not divulging the contents of said email though..

Faith could be strengthened by a death and resurrection, I suppose.. 

OH.
My.
GOD!

John is the Jesus! 

[pawlo74]

PexPay withdrawals still work, weird?

and that:

Thomas Opperman:
"Howard,no comapny would spend the amounts BT spent on advertising and sponsorships if they plan to disappear. The NABCGT is only the half of it. we were paying deposits for events in November the day before John "went missing". If he wanted to steel our cash he wouldn't have wasted so much on stuff that he wasn't planning to complete."

I am not that stupid I think that is over we lost our money but what about that above ?

Ponzi schemes typically last until the withdrawals start to outpace the deposits. The operator (John) may have planned on carrying on much longer, but instead encountered a drop in new deposits or increase in withdrawals and decided to pull the plug.

Thank you for explanation.

Anyway it is possible according to this article Bitcoin Trading Simulation Yields Profit of 89% in 50 Days http://www.coindesk.com/mit-bitcoin-trading-simulation-yields-profit-89-50-days/

[fingertoe11]

PexPay withdrawals still work, weird?

and that:

Thomas Opperman:
"Howard,no comapny would spend the amounts BT spent on advertising and sponsorships if they plan to disappear. The NABCGT is only the half of it. we were paying deposits for events in November the day before John "went missing". If he wanted to steel our cash he wouldn't have wasted so much on stuff that he wasn't planning to complete."

I am not that stupid I think that is over we lost our money but what about that above ?

Ponzi schemes typically last until the withdrawals start to outpace the deposits. The operator (John) may have planned on carrying on much longer, but instead encountered a drop in new deposits or increase in withdrawals and decided to pull the plug.

Thank you for explanation.

Anyway it is possible according to this article Bitcoin Trading Simulation Yields Profit of 89% in 50 Days http://www.coindesk.com/mit-bitcoin-trading-simulation-yields-profit-89-50-days/

The MIT thing was not talking about Arbitrage trading though  - It was trading through Technical indicators..  Stuff that the BT website poo poos as being too risky. 

[Illutian]

The experiment also used no more than 1 BTC...that's nothing.

[Grinder]

For each of the about 14 BTC, you get an average 10 USD profit, so you get 140 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 140 USD / 0.8% = 17500 USD total.

Is it far fetched that they had 17500 USD or 44 BTC from client funds?

You don't explain why they would make $10 on each BTC traded after fees. Even if they did they have a lot more than 17 500 USD, so even with the quite optimistic numbers you probably pulled out of a certain body part they would need a much higher volume to make 0.8% on the total sum. Sorry, but your math makes no sense.

[MadcapEngineer]

The hunt is on for the Bitcoin Scammer calling himself John Carley. Tweet us any info you have that might help to find John Carley.

Links to Photo's, information regarding any know aliases, descriptions or anything else that may help to identify him.

Tweet us  @WhoIsJohnCarley

[BombaUcigasa]

For each of the about 14 BTC, you get an average 10 USD profit, so you get 140 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 140 USD / 0.8% = 17500 USD total.

Is it far fetched that they had 17500 USD or 44 BTC from client funds?

You don't explain why they would make $10 on each BTC traded after fees. Even if they did they have a lot more than 17 500 USD, so even with the quite optimistic numbers you probably pulled out of a certain body part they would need a much higher volume to make 0.8% on the total sum. Sorry, but your math makes no sense.

Someone said they did, so I used that number to calculate if they could. The person did not explain where they got the number, I just used it. Read a while back to follow the discussion. If you think they can get a different profit for each coin (say by overlapping the charts in some tool), take that number and use your improved math to find approximate funds required.

[Phildo]

You can't arbitrage with infinite amounts of money. Right now You can buy 1 coin for $390 on btc-e and sell one for $400 on bitstamp. Yay, 10 bucks via arbitrage. But if you try to sell $100k worth of coins on you will sell the last coin for only $395, and who knows what price you will pay for the last coin at btc-e. The markets are not liquid enough to arbitrage with massive/infinite amounts of money.

You need to educate yourself:
http://en.wikipedia.org/wiki/Market_maker
http://en.wikipedia.org/wiki/Market_power

People move the price because they use the market. You don't need to use both markets, only one. You don't need to move the market, you wait. You can also do it for several hours. Also, you can reuse the money, it isn't spent.

Bitstamp had 17000 BTC volume today. Supposedly you are only on one side today (another exchange has a constantly deviated price in the same direction) and can control 5% of the market without impeding your operation. That means you can arbitrate 17000 / 2 / 20 = 42.5 BTC. Now you only work 8 hours, so divide by 3: 14.1 BTC.

For each of the about 14 BTC, you get an average 10 USD profit, so you get 140 USD profit today. Multiply this by the inverse of the declared profit of 0.8% and you get: 140 USD / 0.8% = 17500 USD total.

Is it far fetched that they had 17500 USD or 44 BTC from client funds?

You showed how they can arbitrage with 44 coins. Why do they need so many? Why do they need people to keep reinvesting? What are they doing with the rest of the coins? Why can't they give more detailed records? All of these sites that give a small percentage per day doing whatever, don't give more detailed records, and somehow manage to never have a bad day are clearly ponzis.

[pawlo74]

Let's create thread in here to provide a place where people can share info on the Bitcoin Trader situation openly and without censorship or filtering so we can build an accurate picture of what really happened.
What you people think about it ?
Something like in this thread:
https://bitcointalk.org/index.php?topic=824211

[pawlo74]

Let's create thread in here to provide a place where people can share info on the Bitcoin Trader situation openly and without censorship or filtering so we can build an accurate picture of what really happened.
What you people think about it ?
Something like in this thread:
https://bitcointalk.org/index.php?topic=824211

I posted exactly the same suggestion this morning on Facebook Bitcoin Trader Official Group.

That group has 1338 members so 1338 people scamed and I had no answer, I can not find my post, possibly some one removed my post.

WEIRD    Those poor people still believe that John Carley might be back.

[BombaUcigasa]

WEIRD    Those poor people still believe that John Carley might be back.

http://en.wikipedia.org/wiki/The_Long_Con

[apelike]

We should all be very careful about this kind of stuff. When you notice a red flag. Step back a little.