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Author Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds  (Read 254175 times)
s1m0n
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June 23, 2014, 10:58:17 AM
 #2581

Wondeirng, if arbitrages is doing so well. why not reopen the investment program?
maybe with some more help of the initial investors we can make this a legit business...
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gise87
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June 23, 2014, 11:27:50 AM
 #2582

I've been number crunching.

The average daily return was 1%.
It has been 25 days since the first refund (30th May)
Total refunded so far is 14.19BTC

So I reckon that the initial balance they have to work with is 11.065BTC.  Calculated as follows:

11.065*1.01^25 = 14.19
principal * (1+interest rate) ^ number of times compounded

People getting immediate refunds makes it take longer for everyone.  As gise87 says in his spreadsheet, at the current rate of return, it will take until mid January 2017.  That's 2.5 years!

If we allow them to keep the funds and compound the interest then:
11.065 * 1.01^396 = 569.14

So that's 396 days... just over a year.  Much better than 2.5.

Just a thought.


If he really only has 11 BTC to work with, he really messed up bad. Losing 500+ BTC, how is that even possible?

I think, the only way to refund all users in one batch in about 1 year is only possible with clear communication and transparency

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lefebret
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June 23, 2014, 12:13:57 PM
 #2583

I've added my 72.7BTC.  From what I have seen this is the largest deposit he had so he shouldn't forget it.  I'm glad to see he's doing something about fixing the problem, even if it takes time.

For the record - I don't mind waiting for my coins as the longer btc-arbs has them to trade with, the faster he is able to recoup everyone's money.  I'm a long term holder, so I can wait.

72.7 BTC!! I can imagine you were making quite the profit! On those nice 2.5% days you must have been pulling in over 1.5 btc daily!
Hope you get it all back.
crazyivan
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June 23, 2014, 01:17:07 PM
 #2584

Wondeirng, if arbitrages is doing so well. why not reopen the investment program?
maybe with some more help of the initial investors we can make this a legit business...

There is already investment program, take a look at my signature. They have been online for about 8 months and everything works great. HOWEVER, make sure you do your research before investing, I cant be responsible for your investments. I have been with them for over 3 months, 4 weeks until I reach full ROI, I do not compound, withdraw every day. To avoid being my referral, just erase the referral part from the link, this is not about me getting refs for that program, just sharing options with you cause I was hurt by BTC arbs as well, fortunately nothing major compared to some other guys.

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June 23, 2014, 01:49:32 PM
 #2585

I've added my 72.7BTC.  From what I have seen this is the largest deposit he had so he shouldn't forget it.  I'm glad to see he's doing something about fixing the problem, even if it takes time.

For the record - I don't mind waiting for my coins as the longer btc-arbs has them to trade with, the faster he is able to recoup everyone's money.  I'm a long term holder, so I can wait.

Wow 72.7??? Is that your original deposited amount or does that include some of the profits?
ral_miramar
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June 23, 2014, 02:47:00 PM
 #2586

I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.

It is also clear that some users do not understand the refund process. The refund amount is not the total amount including earnings. It is the total amount originally deposited minus any withdrawals.


For my part, I understood very well, so, just send the capital invested .... I expect a good resolution, whatever, the important thing is to get something ...
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June 23, 2014, 03:00:31 PM
 #2587

pletharoe,  My hat is off to you for your unselfish gesture.  What you say does make total sense RE: using your funds to invest. I must say it's refreshing to run into someone like you. Thanks!
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June 23, 2014, 03:01:23 PM
 #2588

I've added my 72.7BTC.  From what I have seen this is the largest deposit he had so he shouldn't forget it.  I'm glad to see he's doing something about fixing the problem, even if it takes time.

For the record - I don't mind waiting for my coins as the longer btc-arbs has them to trade with, the faster he is able to recoup everyone's money.  I'm a long term holder, so I can wait.

72.7 BTC!! I can imagine you were making quite the profit! On those nice 2.5% days you must have been pulling in over 1.5 btc daily!
Hope you get it all back.
Yeah, good luck to him. Kindly keep us posted.

Call me Natasha or Natasia; No risk, no gain; if you would like to GROW or RISK your bitcoin on high yield investment programs, here's a list of Paying programs http://investspot.biz/BitCoin-HYIPs.html  Be always warned NOT to invest what you can't afford to lose in any kind of investment activities.
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June 23, 2014, 05:57:32 PM
 #2589

I've added my 72.7BTC.  From what I have seen this is the largest deposit he had so he shouldn't forget it.  I'm glad to see he's doing something about fixing the problem, even if it takes time.

For the record - I don't mind waiting for my coins as the longer btc-arbs has them to trade with, the faster he is able to recoup everyone's money.  I'm a long term holder, so I can wait.
I agree and that's' very generous. I wrote to BTC-Arbs a couple weeks ago in private email and told him he could use our 6.53 coins to arb back the losses. The more he pays out the less he has to arb with and the longer it takes to get us refunded.  -M

Chance favors the prepared mind -Louis Pasteur
brianbbad
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June 23, 2014, 06:06:35 PM
 #2590

Funny story... back in 2011, I had 31 BTC stored at the exchange TradeHill. That site went down and left a very bitter taste in my mouth. But, in early 2013 I finally received all my BTC back, and by then the price was almost 10 times higher than when I "lost" them. Who knows, I might have panic-sold them for $25 each if they hadn't been in lock-down. So, maybe this will be turn out to be a similar situation! Smiley
(...or not, but better to be optimistic than to be saying FML constantly, right?)

s1m0n
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June 23, 2014, 09:55:42 PM
 #2591

Funny story... back in 2011, I had 31 BTC stored at the exchange TradeHill. That site went down and left a very bitter taste in my mouth. But, in early 2013 I finally received all my BTC back, and by then the price was almost 10 times higher than when I "lost" them. Who knows, I might have panic-sold them for $25 each if they hadn't been in lock-down. So, maybe this will be turn out to be a similar situation! Smiley
(...or not, but better to be optimistic than to be saying FML constantly, right?)
still waiting on an email or PM before getting optimistic
BTC-Arbs
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June 23, 2014, 09:59:10 PM
 #2592

A new refund strategy is being set up that will begin paying smaller refund amounts to a greater number of users, similar to what has been suggested in previous posts. When you receive the first portion of your refund, I will send you a message, informing you that the payment has been sent. You can then expect additional payments to be made until your balance is refunded in full.

This will ensure a more equal distribution of refund payments.

10 partial refunds and 1 full refund were sent today.
riterrani
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June 23, 2014, 10:11:18 PM
 #2593

btc-arbs please we need a confirmation that you received our email and you confirm the debt. Why are you not confirming the names in the spreadsheet? We need to know men, try to understand us, we are trying to collaborate with you, but please give us some feedback.

BTC Wallet: 18szf8NvVnVApGFpFexJ1sxrrAcjDaXNrL
LTC Wallet: Lh3BFZEBpnKCbEuuEGHYGzE6QdRp3MJgoP
QRK Wallet: QTchcQv2BZ3ruzrARQ1v77PFDYHN5LVFG6
IFC Wallet: iLiBLmm64jkCZRrUcCrfqcGhvbUZ1XtXZ9
FST Wallet: fjWje5E8xQJ9wBNcAhLohbi6uSYSjSKawv
FZ Wallet: FPrThJLaN8cjF6U99TUiyR7shBfgkeiUaK
tom14cat14
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June 23, 2014, 10:11:52 PM
 #2594

.2 BTC partial refund. Thank you

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June 23, 2014, 10:13:19 PM
 #2595

btc-arbs please we need a confirmation that you received our email and you confirm the debt. Why are you not confirming the names in the spreadsheet? We need to know men, try to understand us, we are trying to collaborate with you, but please give us some feedback.

Would you rather him take a few hours to pm and email all of us saying I got you PM or would you rather him spend that time on getting our money back?

worldlybedouin
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June 23, 2014, 10:17:14 PM
 #2596

A new refund strategy is being set up that will begin paying smaller refund amounts to a greater number of users, similar to what has been suggested in previous posts. When you receive the first portion of your refund, I will send you a message, informing you that the payment has been sent. You can then expect additional payments to be made until your balance is refunded in full.

This will ensure a more equal distribution of refund payments.

10 partial refunds and 1 full refund were sent today.

+1 Thanks for the update.

LTC:  LXrAe2E6cBsK52GvUsYraeXkc2s7Ti7R5X
BTC:  1FLTMqVjTZ5MTdCF4npNZGFMEUGyBV4zcj
FreeJack2k2
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June 23, 2014, 10:20:34 PM
 #2597

.2 BTC partial refund. Thank you

Updated the spreadsheet to reflect this.

Don't forget to update the spreadsheet when you get paid (or announce it here), folks. It's helpful to track this stuff.
riterrani
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June 23, 2014, 10:21:01 PM
 #2598

btc-arbs please we need a confirmation that you received our email and you confirm the debt. Why are you not confirming the names in the spreadsheet? We need to know men, try to understand us, we are trying to collaborate with you, but please give us some feedback.

Would you rather him take a few hours to pm and email all of us saying I got you PM or would you rather him spend that time on getting our money back?
There is no need to do that, he already said that he has a list of users, and we have a spreadsheet with all the people that did public his debt, so he can make a copy and add a column saying how much he is accepting of that debt or only if he is accepting a debt,without amount. Is not so hard, can be two or three hours max. For example I deposited days before the site closed so I don't know exactly if he knows about my deposit.

BTC Wallet: 18szf8NvVnVApGFpFexJ1sxrrAcjDaXNrL
LTC Wallet: Lh3BFZEBpnKCbEuuEGHYGzE6QdRp3MJgoP
QRK Wallet: QTchcQv2BZ3ruzrARQ1v77PFDYHN5LVFG6
IFC Wallet: iLiBLmm64jkCZRrUcCrfqcGhvbUZ1XtXZ9
FST Wallet: fjWje5E8xQJ9wBNcAhLohbi6uSYSjSKawv
FZ Wallet: FPrThJLaN8cjF6U99TUiyR7shBfgkeiUaK
BTC-Arbs
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June 23, 2014, 10:24:07 PM
 #2599

Most emails take time to verify. Many users are claiming invalid amounts and there are also many fake emails from users that did not even have accounts.

All messages will get a reply. It takes time and this forum limits the speed of sending PMs.
dyask
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June 23, 2014, 10:27:46 PM
 #2600

Most emails take time to verify. Many users are claiming invalid amounts and there are also many fake emails from users that did not even have accounts.

That was my biggest concern that many people that never invested would jump on the band wagon and claim they did.   
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