btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds

[Slipknot79]

Dunno whats ya problem with yonce, hes only telling the truth about this poniz scam shit here.

The only thing you have against him is, dat he provided a referal link, light years ago...

It reminds me of these guys dat didnt want to belive this one guy saying, that the earth is a globe and not flat.

[yonce]

Dunno whats ya problem with yonce, hes only telling the truth about this poniz scam shit here.

The only thing you have "against" him is, dat he provided a referal link, light years ago...

It reminds me of these guys dat didnt want to belive this one guy saying, that the earth is a globe and not flat.

haha! thanks. I kind of sometimes feel like that when I post. The referral link repeat attacks is just trying to grasp for straws I believe. Because posting one referral link that was up for about 30 minutes till I removed it when I first joined literally means nothing. We all should be able to share our information and experiences in peace without the fear of being attacked for anything said.

[FreeJack2k2]

The fact is, a lot of people are hoping against hope that there's something legitimate about this site...in the face of all evidence to the contrary. I wanted to believe it was legitimate for a LONG time, I didn't think the similarity in site design to a prior scam site was convincing enough, since those designs can be repurposed and resold by their developers. The updates always seemed to jive with the market and the answers I got from Adam were acceptable. I never had any issues withdrawing funds. I'd had no experience with ponzi schemes in the past, but I didn't really understand how the percentages I was being credited with every day could have come from new users, when new users also received the same percentages I did from their deposits.

Over time I realized that the numbers were just numbers in my account. I assumed they represented funds that were on trading accounts and were being reconciled every day, to derive the percentage profit...but now I realize that it didn't really matter whether I had 3 Bitcoin in my account or 300, they were just numbers. It didn't matter how much it said I had, until the time came to withdraw the funds. That's when the money had to become "real" again. When I saw someone come in saying his friend tried to pull 30 out at once and had it canceled, and was then told to withdraw a little at a time instead, I started to worry...so a few days later, I initiated my first small withdrawl (5 BTC). Then Easter happened, and of course, the transfer was canceled by admin and my entire balance was locked behind a fence.

So it's not looking good. But while I think Yonce is belaboring the point a little bit (yes we get it, it's most likely a ponzi) there's no reason to make accusations at him. It's a hard lesson to learn, but we need to learn it and be more careful next time...and he's just saying that if you get educated about it, you CAN make money on HYIPs and learn how to sort out the good ones from the bad. Me, I have no intention of ever doing anything like this again. However, I DO plan on engaging in arbitrage on my own, eventually. I have educated myself about how it can be done efficiently and effectively, so when I've amassed enough to make it worthwhile, I'm going to try it.

[sorrynn]

hello. again I am reading the posts and I see there aren't actually any other people having their funds totally moved from legacy to regular balance.
I guess it was the selective users for possible attracting more people to deposit...I don't know. I recommend to raise a ticket and ask the admin to proceed with your transfer/ask the status of your account. Maybe it will happen. Probably most of people involved will not receive their investment back, but more and more it seems a ponzi to me.

[lesnod11]

The fact is, a lot of people are hoping against hope that there's something legitimate about this site...in the face of all evidence to the contrary. I wanted to believe it was legitimate for a LONG time, I didn't think the similarity in site design to a prior scam site was convincing enough, since those designs can be repurposed and resold by their developers. The updates always seemed to jive with the market and the answers I got from Adam were acceptable. I never had any issues withdrawing funds. I'd had no experience with ponzi schemes in the past, but I didn't really understand how the percentages I was being credited with every day could have come from new users, when new users also received the same percentages I did from their deposits.

Over time I realized that the numbers were just numbers in my account. I assumed they represented funds that were on trading accounts and were being reconciled every day, to derive the percentage profit...but now I realize that it didn't really matter whether I had 3 Bitcoin in my account or 300, they were just numbers. It didn't matter how much it said I had, until the time came to withdraw the funds. That's when the money had to become "real" again. When I saw someone come in saying his friend tried to pull 30 out at once and had it canceled, and was then told to withdraw a little at a time instead, I started to worry...so a few days later, I initiated my first small withdrawl (5 BTC). Then Easter happened, and of course, the transfer was canceled by admin and my entire balance was locked behind a fence.

So it's not looking good. But while I think Yonce is belaboring the point a little bit (yes we get it, it's most likely a ponzi) there's no reason to make accusations at him. It's a hard lesson to learn, but we need to learn it and be more careful next time...and he's just saying that if you get educated about it, you CAN make money on HYIPs and learn how to sort out the good ones from the bad. Me, I have no intention of ever doing anything like this again. However, I DO plan on engaging in arbitrage on my own, eventually. I have educated myself about how it can be done efficiently and effectively, so when I've amassed enough to make it worthwhile, I'm going to try it.

I was fine with it at first, but it just continues and continues.... he has no horse in this race and still on and on we go with the "it's a scam". So we get it! He is perfect, he knew from the start. Now that he has made that point, it's time to go away and stop turning this discussion into a "I told you so", and "my predictions.... which are always right" discussion.

[yonce]

hello. again I am reading the posts and I see there aren't actually any other people having their funds totally moved from legacy to regular balance.
I guess it was the selective users for possible attracting more people to deposit...I don't know. I recommend to raise a ticket and ask the admin to proceed with your transfer/ask the status of your account. Maybe it will happen. Probably most of people involved will not receive their investment back, but more and more it seems a ponzi to me.

Correct, if you make enough noise you might get the chance to be a selective payout. Doesn't hurt to try.

[yonce]

The fact is, a lot of people are hoping against hope that there's something legitimate about this site...in the face of all evidence to the contrary. I wanted to believe it was legitimate for a LONG time, I didn't think the similarity in site design to a prior scam site was convincing enough, since those designs can be repurposed and resold by their developers. The updates always seemed to jive with the market and the answers I got from Adam were acceptable. I never had any issues withdrawing funds. I'd had no experience with ponzi schemes in the past, but I didn't really understand how the percentages I was being credited with every day could have come from new users, when new users also received the same percentages I did from their deposits.

Over time I realized that the numbers were just numbers in my account. I assumed they represented funds that were on trading accounts and were being reconciled every day, to derive the percentage profit...but now I realize that it didn't really matter whether I had 3 Bitcoin in my account or 300, they were just numbers. It didn't matter how much it said I had, until the time came to withdraw the funds. That's when the money had to become "real" again. When I saw someone come in saying his friend tried to pull 30 out at once and had it canceled, and was then told to withdraw a little at a time instead, I started to worry...so a few days later, I initiated my first small withdrawl (5 BTC). Then Easter happened, and of course, the transfer was canceled by admin and my entire balance was locked behind a fence.

So it's not looking good. But while I think Yonce is belaboring the point a little bit (yes we get it, it's most likely a ponzi) there's no reason to make accusations at him. It's a hard lesson to learn, but we need to learn it and be more careful next time...and he's just saying that if you get educated about it, you CAN make money on HYIPs and learn how to sort out the good ones from the bad. Me, I have no intention of ever doing anything like this again. However, I DO plan on engaging in arbitrage on my own, eventually. I have educated myself about how it can be done efficiently and effectively, so when I've amassed enough to make it worthwhile, I'm going to try it.

Thanks for the post. Good luck on your arbitrage endeavor. I wish I had the balls or even the skill lol to try it.

[sorrynn]

well, it happened to me, I am sharing it with you, maybe there will be more people on the better side of the boat...my only concern is: if a site is a ponzi, do the affected users have a chance to recover their loss? I mean is there a way of finding the scam owners? I posted some txids, maybe others can understand better from which wallets the btcs are coming and where I deposit my btcs and where they went from that wallet...but I don't know how to read everything in the btc block chain...I would really appreciate some guidance for better understanding. I also posted my correspondence with admin for better understanding my case and the result. Still, somehow there must be a way to find these persons, but I don't know what that is. Probably this is not the first scam this Adam/Jon Doe canadian comic is doing and he wants to improve his tactics, but I really don't know many things about ponzis/HYPS. I am new in this side and I just considered it might be nice to get something from arbitrage...somehow I have the feeling the arbitrage was just the reason to attract people like us to make an investment...the process they explain works perfect if you have a bot and you setup the desired percentage where it can trade for you, then make the balance again on your accounts...at least that is what I heard...but in this case, I have doubts they to that. In plus, I think yesterday they posted pretty early the results for the day...makes me think again: is that for real or just an automatically generated value in excel?

I hope for the best for all of you. Looking forward to read here more posts with successful withdrawals.

Cheers

[juanbond]

24 hours have gone by since my 1.006 BTC withdrawal request.  Hopefully sometime in the next 24 hours it will actually happen, as I believe people have said their processing window is now stated as 48 hours...  I'll report back again tomorrow.  Fingers still crossed!

[sorrynn]

24 hours have gone by since my 1.006 BTC withdrawal request.  Hopefully sometime in the next 24 hours it will actually happen, as I believe people have said their processing window is now stated as 48 hours...  I'll report back again tomorrow.  Fingers still crossed!

Very strange..if you see my previous post on the other page you can see that I think it took 30 minutes since I asked withdrawal until it was processed. probably I had the admin online at that time. I think it was around 7:30 PM server time. still, they are striving to process all withdrawals within 36 hours...so you're still within the regular timeframe. Finger crossed for you.

[yonce]

well, it happened to me, I am sharing it with you, maybe there will be more people on the better side of the boat...my only concern is: if a site is a ponzi, do the affected users have a chance to recover their loss? I mean is there a way of finding the scam owners? I posted some txids, maybe others can understand better from which wallets the btcs are coming and where I deposit my btcs and where they went from that wallet...but I don't know how to read everything in the btc block chain...I would really appreciate some guidance for better understanding. I also posted my correspondence with admin for better understanding my case and the result. Still, somehow there must be a way to find these persons, but I don't know what that is. Probably this is not the first scam this Adam/Jon Doe canadian comic is doing and he wants to improve his tactics, but I really don't know many things about ponzis/HYPS. I am new in this side and I just considered it might be nice to get something from arbitrage...somehow I have the feeling the arbitrage was just the reason to attract people like us to make an investment...the process they explain works perfect if you have a bot and you setup the desired percentage where it can trade for you, then make the balance again on your accounts...at least that is what I heard...but in this case, I have doubts they to that. In plus, I think yesterday they posted pretty early the results for the day...makes me think again: is that for real or just an automatically generated value in excel?

I hope for the best for all of you. Looking forward to read here more posts with successful withdrawals.

Cheers

Sorry there is no way to track them down, and the general consensus for those who play HYIP's is just move onto the next game. There of course have been on occasion over the many years upset people about their losses who have tried to. It's a lost cause and those who got the short end of the stick usually move onto the next game and forget about the last. The majority of HYIP admins are also anonymous in second world countries then start a new game with new personas. Everything is under fake names, even the ones that use UK corporations are also falsified and bought by vendors who sell them to HYIP admins.
If I was to make a list of all the programs I have been in over the years, there would be some that I totally would not be able to remember their names.

Wish you luck in getting as much of your funds back you can. You are totally right about the arbitrage story being a ploy. It's a new kind of ploy coming from a HYIP admin that has been very profitable for the ones claiming bitcoin revenues.

[sorrynn]

thanks, I am one lucky guy, received everything back plus the interest during the time I had my btcs on site...just posted 1 or 2 pages ago...the fun part is: I have a friend who also has btcs there and he is taking into consideration to start an arbitrage business for him and his closer friends. I know the guy and I am very tempted to jump in, but at this stage I am not making any teasing to anyone and probably I will not make any future commercial to that with any referral link. For sure it will not be a scam. At least I will have the opportunity to understand better some aspects of btc world. The advantage is I know him, and he is trusty, at least for me, so I feel more comfortable.

Cheers

[lesnod11]

thanks, I am one lucky guy, received everything back plus the interest during the time I had my btcs on site...just posted 1 or 2 pages ago...the fun part is: I have a friend who also has btcs there and he is taking into consideration to start an arbitrage business for him and his closer friends. I know the guy and I am very tempted to jump in, but at this stage I am not making any teasing to anyone and probably I will not make any future commercial to that with any referral link. For sure it will not be a scam. At least I will have the opportunity to understand better some aspects of btc world. The advantage is I know him, and he is trusty, at least for me, so I feel more comfortable.

Cheers

Crazy the amount of people now planning to go out on their own. I have also written my own arbitrage program and will start trading it within a couple weeks.

[sorrynn]

thanks, I am one lucky guy, received everything back plus the interest during the time I had my btcs on site...just posted 1 or 2 pages ago...the fun part is: I have a friend who also has btcs there and he is taking into consideration to start an arbitrage business for him and his closer friends. I know the guy and I am very tempted to jump in, but at this stage I am not making any teasing to anyone and probably I will not make any future commercial to that with any referral link. For sure it will not be a scam. At least I will have the opportunity to understand better some aspects of btc world. The advantage is I know him, and he is trusty, at least for me, so I feel more comfortable.

Cheers

Crazy the amount of people now planning to go out on their own. I have also written my own arbitrage program and will start trading it within a couple weeks.

I think it all resumes to trust...and let's face it: if you can't trust yourself you're in big trouble...unfortunately I don't know programming so I rely on my friend

[yonce]

thanks, I am one lucky guy, received everything back plus the interest during the time I had my btcs on site...just posted 1 or 2 pages ago...the fun part is: I have a friend who also has btcs there and he is taking into consideration to start an arbitrage business for him and his closer friends. I know the guy and I am very tempted to jump in, but at this stage I am not making any teasing to anyone and probably I will not make any future commercial to that with any referral link. For sure it will not be a scam. At least I will have the opportunity to understand better some aspects of btc world. The advantage is I know him, and he is trusty, at least for me, so I feel more comfortable.

Cheers

Congrats indeed!

Of course if it is legitimate he can't legally start a company offering it to the public as that would in essence be pushing unlicensed securities. But he can freely do it for you and his friends
That of course though should always be the first sign with sites btc-arbs, bitcoin-trader is they are selling unlicensed securities which are all HYIP ponzi games.

[dyask]

Date   Message
30/04/2014 00:46   Bitcoin withdrawal request for 0.408 bitcoins

Still no sign on the blockchain for this transaction.

And no response from my support ticket about my second deposit

Well you are about 3 hours ahead of me.

I did receive my tiny withdraw of .0461, so at least I got 3% back. 

[FreeJack2k2]

That sounds familiar.

[yonce]

At the end of the trading day, they sell the small amount of Bitcoin. They then tally up the cash stacks on each exchange, compare it against the cash amount at the beginning of the day, and know what their profit was.

Subtract any wire transfer fees to rebalance if needed, and that's your net profit. Take your percentage as the trader, and what's left is reported as the day's gain and split amongst the "investor pool." They may or may not have been running trade bots to ensure that they were in Bitcoin during upswings while they weren't actively trading.

Confused, are you asserting btc-arbs does real trading?

[FreeJack2k2]

At the end of the trading day, they sell the small amount of Bitcoin. They then tally up the cash stacks on each exchange, compare it against the cash amount at the beginning of the day, and know what their profit was.

Subtract any wire transfer fees to rebalance if needed, and that's your net profit. Take your percentage as the trader, and what's left is reported as the day's gain and split amongst the "investor pool." They may or may not have been running trade bots to ensure that they were in Bitcoin during upswings while they weren't actively trading.

Confused, are you asserting btc-arbs does real trading?

That was a quote from a post I made, explaining how they'd be doing it if they actually WERE doing it.

[dyask]

Those who have been paid back in full have no legitimate evidence that btc-arbs is a scam, yet they themselves would still call it a scam. What evidence do they have when compared to what btc-arbs has plainly said they would do:  1) acquisition, 2) audits, 3) small legacy funds, 4) eventual return of all funds.  As far as what I can tell, btc-arbs has been GOOD on their word.  So, when those people call out "scam", its incredibly easy for the newcomer to ignore those people as paranoid freaks or have some other agenda in mind.  It's a win for btc-arbs and relative cheap for them to do assuming they have plenty of other accounts to hold on to.

What?  Seriously you can't believe that.   As soon at they had their "acquisition" and forced our funds into these legacy accounts and stop playing interest on that money it was a scam.   They haven't even changed any of the web pages while they claim that no longer accept fiat.  While btc can be converted between fiat and btc, it is hard to believe they are actually doing any arbitrage trading at this point.    How can anyone think at this point that they have been GOOD on their word?

I may be taking your comments too far out of context, but there isn't any way that btc-arbs is now dealing with its legacy customers in an honest fashion.