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Qwiner (OP)
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February 19, 2014, 01:46:32 PM
Last edit: September 15, 2014, 06:48:17 PM by Qwiner |
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 Hi all, (If you want a refund from BTC-arbs, please scroll down further to find his/her PM, I am not BTC-arbs, I did not scammed any BTC, please do not PM me about refund - Please look for post on May 29, 2014, 11:41:55 PM in this thread, it contained details on how U can make a claim for your refund ).
Here is the link for us to track BTC-arbs' refund progress: https://docs.google.com/spreadsheets/d/1JKPeMI91oO9_khnM-1qWFi7SflhXStC6OJC3QSFQDU8/edit#gid=1324696940 (People, if U don't know how to edit the spreadsheets, please kindly post your info. in this thread, someone from this thread, will help you out with pleasure. Please do not delete info. entered by other users.)
Latest reply from BTC-arbs:
July 14, 2014, 04:08:18 AM @ #2783
Update
More refund replies sent
Only 3 pages of PM replies left to contact
More refunds being sent in 10 minutes
Reminder
I do not check or update the spreadsheet
Updating the spreadsheet is not a refund request
Send a PM instead (or email)
I only reply to refund requests after they have been verified and placed in the queue
If I think your request is fake I will tell you or ask for more information
July 07, 2014, 01:18:48 AM @ post #2728
Beginning of week update:
Many more refund request replies sent
16 partial payments sent
Replies now contain estimated refund start dates
For everyone who is worried that I may think their request is fraudulent: If your request is real you have nothing to worry about. If I think it is fake I will still reply.
03 JULY 2014 @ 04:27:09 AM @ post #2684
More payments being sent in 10 minutes from now. More PM and email replies soon.
June 26, 2014 at 10:06:58 PM @ post #2636 (Latest BTC-arbs reply):
Reminder: I do not look at the spreadsheet. Refund details need to be sent by PM or email.
More payments have been sent today and more message replies are being sent.
June 25, 2014, 03:15:28 PM @ post #2625 (Latest BTC-arbs reply):
More partial refunds have been sent and more PM replies have been sent.
June 23, 2014, 09:59:10 PM @ post #2594 (Latest Btc-arbs reply)
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.
une 22, 2014, 03:19:09 AM Post #2562: Latest BTC-arbs reply
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.
Latest BTC-arbs replied @ June 19, 2014, 05:39:57 PM
This forum requires 6 minutes between PM replies. I cannot reply to all messages to say that they were received. If you sent a message then it was received.
2 full PM refunds sent.
1 partial PM refund to lesnod
17 June @ 12:22:32 AM
BTC-arbs Reply @ Post #2465
Refunds sent today
2 full refunds from PMs
2 full refunds from email
2 partial payment to freejack and dyask (now fully refunded)
If you have already sent an email or PM do not send it again. Once is enough. You will not receive a reply until you are paid.
15 JUNE: Refund progress
It was reported that BTC11+ had been refunded, BTC439+ still owing. https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10/edit?pli=1#gid=1324696940
13 JUNE: Messages from BTC-arbs:
@ 09:43:24 PM
The speculation in this forum is crazy. It seems that every time I visit I need to explain again the situations. Here we go again:
1. BTC-Arbs was hacked. Coins were stolen. Deposit addresses were changed. Some of the coins in the system weren't even received by BTC-Arbs.
2. You ask why the website isn't online. There are two reasons for this. First, the hackers completely destroyed the server and changed all the information on it. Second, there were multiple DDOS attacks that took the server offline.
3. You ask why I don't refund everyone immediately. The answer is that I do not have all of the coins in the accounts. If I did, I would. The remaining coins are being used to generate profits that are being used to pay everyone. Regular refunds are being made. A general refund plan is in place. Smaller investors are being paid their full balances. Larger investors are being paid partial payments until they are fully refunded. Investors with unreasonable demands or complaints are moved further back in the queue. Users who cooperate with the refund process are paid first.
4. Anyone who sends threats, especially those of violence, will forfeit their full balance.
5. Everyone will be refunded as soon as possible.
Today's batch of refunds will be sent in approximately one half of an hour.
@ June 13, 2014, 10:03:58 PM
Refunds sent today
3 full refunds from PMs
3 full refunds from email
If you have already sent an email or PM do not send it again. Once is enough. You will not receive a reply until you are paid. Sending multiple emails is making everything more confusing.
09 JUNE 2014: Latest update
Another important info. from BTC-arbs in relation to making your claims: https://bitcointalk.org/index.php?topic=474787.2260
thread @ June 07, 2014, 11:56:29 PM
6 JUNE 2014: Latest update
spreadsheet link composed by some members of this thread about BTC owed by BTC-arbs - https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10
If U had not seen yet,
Please see post on May 29, 2014, 11:41:55 PM, it contains details on how U can make a claim for your refund
As of this week, I have become an affiliate & investor of https://btc-arbs.com/ ref removed
 
I. AIM:
I hope that this thread can be:
1. a point of reference & updates for potential & existing investors; &
2. for potential & existing investors to share any negative or positive news about the site
When I picked up any important news, I will edited it on post 1, so that we can pick up any -ve / +ve news of the website quickly. I will put the latest news right below this line.
If you like this post, please support by signing up under https://btc-arbs.com/. This is greatly appreciated! Thanks in advance!
XI. LEGITIMACY STATUS
12 MAR 2014: An anecdote @ Post #116 @ p.6 seems to be adding some credibility to btc-arbs.com's business model.
04 MAY 2014: btc-arbs.com = 100% HYIP service.
As requested by ethical existing members of btc-arbs to inform people NOT TO MAKE NEW DEPOSITS with btc-arbs. For more info. about this, please read pp 76-77
VII. WITHDRAWAL
Someone is interested about withdrawing at the site
I have no plan to withdrawal at the moment, because I don't have the need to, besides I only have a small investment. Perhaps, visitors of this post might be able to tell us their experience.
This is in response to post #19, Well yes, U can withdrawal, one of my referral told me that she invested BTC0.15 @ the site, then she got up to BTC0.164 over a few days. She then withdrawal BTC0.154. Her account's TRANSACTION HISTORY revealed that her withdrawal was process within 2 minutes. But then the respond time might be depended on the time of the date. I am basing this on the time taken for them to respond to my support ticket, sometimes very fast, sometimes take a few hours.
Response to post #28, TICKED, unlike most gambling site, btc-arbs.com do not charged any withdrawal fees. My referrer also did not reported any withdrawal fee
12 MAR 2014: It seems there is now a withdrawal fees @ btc-arbs.com, as reported @ post # 120 @ p.6
17 APR 2014: So sorry, did not make any announcement for so long, especially about the unauthorized withdrawal issues + FACTOR 2 security issues. Well, but anyway, I think people who have been watching this thread, will be aware of it.
Right now, the site is down, when I try to visit the page just now, it seemed to me the site is dead for good.
18 APR 2014: The site is back on, the sun is shinning again. Latest issues about this site are password security issues and unauthorized withdrawal. So invest @ your own risk
21 APR 2014: 1 member of btc-arbs is reported not to have received his/her withdrawal, after 84 hours.
https://bitcointalk.org/index.php?topic=474787.msg6320596#msg6320596
26 APR 2014: By this stage, all investors @ btc-arbs are unable to withdrawal their fund
PLEASE DO NOT MAKE ANY NEW INVESTMENT TO THE SITE UNTIL FURTHER NOTICE.
btc-arbs' latest news is just too ridiculous. As commented by many members in this thread from pp 45.
03 MAY 2014: I have no problem on my request withdrawal of BTC0.0103, which got transferred out of my LEGACY TRANSFER FUND few days ago. It was processed within the withdrawal time frame. Other investors also reported successful minimal withdrawal amount in these last 2 days
03 MAY 2014: Many members still reported that they have withdrawal problems. Some withdrawals were not processed within the withdrawal time frames. So be cautious people. Do not deposit BTC into the website OR U will lose your deposits.
XII. LEGACY TRANSFER FUND
03 MAY 2015: Hi people, all the balance in my account had been transferred out of the LEGACY TRANSFER FUND. I think some account are back to normal, depending on the age of deposits. I think the older the deposits, the faster it got transfer out of the LEGACY TRANSFER FUND. I hope all your accounts can be transfer out of the LEGACY TRANSFER FUND soon.
Things seems to be back to normal at the site. But it was still nerve racking.
I do not recommend people to invest their life savings into this site or other HYIP sites. Better to be safe than sorry.
X. Registration issues
Response to post #27, registration is pretty simple, LOW LEVEL of personal info. are required, they do not ask for ID proof.
March 14 2014:
Please note that there is no email confirmation post signing up / register >> despite the website said that email was sent. But your accounts will have no problem, this is normal:
# 39 https://bitcointalk.org/index.php?topic=474787.20 +
# 43 + 44 + 45 + 55 https://bitcointalk.org/index.php?topic=474787.40 +
# 143 https://bitcointalk.org/index.php?topic=474787.new;topicseen#new
VI. DEPOSIT
Deposit at the site was different to gambling sites, it takes a few hours for your deposits to show up.
There is a minimum deposit for the site = minimum investment = BTC0.05
However, for balance with less than BTC0.05 @ the site, U can still get a share of the site's daily profit/daily returns.
Post #35 - 37: Deposits did take as long as 12 hours to deposit >> certainly takes more than 6 confirmations.
Investors' Deposits procedures
Post#59:
1. Deposits @ this site is very strange, do not just did your deposit & forget about it, U need to go back to the deposit page, & click confirm, otherwise, U will be very very worried, just like Krichwins in this thread.
2. Deposits made to this site is not automatic, it is manually updated by btc-arbs.com. Therefore, deposits will take more than 6 hours to shown up. But I don't know will this depend on the time of the day.
March 14 2014: Post #146-147
IX. PONZI PROOF
The following statements/logics sounded very legible, they are much more legible than the rationale provided by btc-arbs.com. investors/potential investors, please be alert, be careful with your valuable & hard-earned BTC. Perhaps we should pull the plug before they do!
Post # 21:
1. Setting up an office @ Geneva = expensive to operate
2. Converting of BTC to USD b/n exchanges takes some time
3. Daily profits is never NEGATIVE
4. Daily profits is unbelievably HIGH for arbitrage trading (post #25)
>>>> Yes, I agreed that there is a risk involved with this website, but every BTC websites involved risks that U might never SEE your BTC again.
Post# 35: (had also made some v. good points)
5. Assuming daily ROI/profit rate = 2%, with an investment of only BTC0.05, annual (365 days) ROI = BTC68.87041. I try this out with varying amount of investment using EXCEL. For BTC0.01, annual ROI = BTC13.774. The annual BTC we can get from this investment, really sounded like money is growing on trees, and pigs might fly. Unfortunately, "there is no magical formula in this world to make money"
6. Excellent ROI + withdrawal is so attractive, which aim to make us to invest more BTC into the site
7. Creation & maintenance of the website is not for us investors to make money, but for the WEBMASTER.
Investors, with these in mind, we really should pull the plug before they do (post # 30). Or be a "greedy idiot" (post # 35)
U must read the info. in Post #74 - But here is the summary:
Poker by Proxy, (maybe some of U have seen its ads or had been an investors) >> had proven to be a pronzi scheme.
Backup site: https://web.archive.org/web/20131203020947/https://pokerbyproxy.com/
note:
- same type of design/style
- same type of info
- same page names (!!) like /join.html, /results.html, /login.html, /results/2013/12/04.html - as a webdev I can tell you that exactly the same page names on a site is rare - most have at least "register" instead of "join" or no .html suffix. That specific result page /results/2013/12/04.html is extremely rare - almost impossible. You can check this on archive.org by hovering over the link.
- same HTML structure, like (NOTE: /assets/img/ same URLs)
The members area:
http://i1.ytimg.com/vi/1kY24FUzqS4/maxresdefault.jpg
note:
- identical members menu
btc-arbs investors/potential investors, google up 'poker by proxy'.
By the way, these excellent constructive posts, #35 + #74 are contributed by the same person, NLNico. Thank you so much for providing the info. to alerted to us, bitcointalkers of any seemingly reliable investment but is in fact, a ponzi scheme, before things start to crumble.
btc-arbs investors/potential investors, with all these detailed ponzi proof as provided by NLNico, perhaps U should withdrawal your balance (to be safe) / partially withdrawal your investment balance (as to say that "I am not a greedy person") / leave your investment balance or deposit more in (as to say that "I am a greedy person"). But please remembered that, greedy person will always end up with nothing, or worse, heavily in debt.
Finally, I would like to say thank you to bitcointalkers, I did not create a lot of forum threads in my life, but this one is certainly a successful one. As it had attracted quite a good no. of views & replies. But then, I certainly have spend considerable amount of time & effort in this thread. I hope all of you will have a safe & happy investments
Hello, investers / potential investors, please be aware that, investment @ btc-arbs.com will certainly not 100% safe, as the website claim. So please invest with cautions.
7 March 2014:
For investors/potential investors who wish to a see a detailed analysis / technical explaination (instead of gut feeling), on why btc-arbs.com = truly a ponzi sheme. U must read post # 98 @ p.5
II. PERSONAL OPINION:
Since rbitco.in, I haven't been making any investment with my BTC. Initially, I thought the site was a complete scam, but the site gradually return 90% of my fund to me, but I am not getting any interest or login bonus as promised by the site.
I think https://btc-arbs.com/referral/qwiner sounded legible than a lot of different BTC investments I have seen, and I hope it will not be a scam, most importantly. The site sounded legible because:
1. It clearly explains how the site earn its fund, and distributed to its members. It sounds legible. I am an accounting student, I have learnt some basic theories of finance, one of those was: an inefficient market VS profit, there is a direct relationship between the two. And the BTC / cryptocurrency exchange market is clearly inefficient. As can be seen by the different trading prices across different BTC exchanges. Due to this, I think as long as the market is inefficient, there will be profit for the site and its investor. And I think the daily ROI (Return On Investment) rate is dependent on the degree of inefficiency in the market.
2. We can withdraw the profits and investment anytime we like. This is very different compared to other investment sites, such sodisfun & leancy. I joined up Leancy, but when I tried to make the min. deposit, it won't allowed me to complete the transaction with such amount.
You can all click on the link below to learn more about the above 2 points https://btc-arbs.com/
07 MAR 2014:
LOL, I think for existing investors, for now I think the best strategy to invest @ btc-arbs.com is just to leave the minimal withdrawal BTC in your account, & earn some bits of BTC. As some of us might have earned over & above that no. of BTC anyway, so it might not hurt @ all if anything happen, we'll only lose BTC0.01. But really, we have nothing to lose.
IV. DAILY ROI (Return On Investment)
Response to post #13, absolutely, to earn your DAILY ROI, your balance need to be in your account, before the the ROI rate for the day was announced, for eg. today is the 22/02/2014, & the DAILY ROI for the day was already published, & U make a deposit to your account on 22/02/2014, of course, you won't get any share of today's ROI. However, when 23/02/2014's ROI rate was published, U will definitely get 23/02/2014's ROI rate added onto your balance
This can be viewed by clicking on https://btc-arbs.com/, then RESULTS, which is next to HOME (on the very top of the page)
DAILY ROI seems to be a popular queries for most readers.
Well, I believed DAILY ROI = (Investment + Accumulated DAILY ROI) X DAILY ROI rate
Hey investors/potential investors, I have less than BTC0.05 in my account, which is less than the site's min. investment amount, but I still got the daily ROI, added onto my account. This is so cool. But don't try to deposit with less than BTC0.05, I don't know if they will credit your account if it's less than BTC0.05. I have raised a support ticket about min. deposit, the admin. did say the min. deposit = BTC0.05
The site will show your (investment + ROI amount) balance with 4 decimal points ie. = BTC0.0000. Any ROI amount that is less than 4 decimal places is ignored or not credited to your account.
X. Registration
Response to post #27, registration is pretty simple, LOW LEVEL of personal info. are required, they do not ask for ID proof.
March 14 2014:
Please note that there is no email confirmation post signing up / register >> despite the website said that email was sent:
# 39 https://bitcointalk.org/index.php?topic=474787.20 +
# 43 + 44 + 45 + 55 https://bitcointalk.org/index.php?topic=474787.40 +
# 143 https://bitcointalk.org/index.php?topic=474787.new;topicseen#new
VIII. btc-arbs.com's BACKGROUND
In reponse to post #15, yes I have noticed. I don't know, and also did anyone seen btc-arbs.com's ad in DEC or JAN. I have been seeing heaps of btc-arbs.com in FEB.
As to the RESULT's history I don't know why there are nothing for the past months. I wonder when we reached MAR, probably the FEB results will still be there.
Here are more facts that deviate from what btc-arbs.com had claimed: http://www.statscrop.com/www/btc-arbs.com
The linked revealed that:
- the site is only about one month old
- that its server location is in Malaysia, not in Switzerland, they claimed their office are in Switzerland, & yet they host their server in Malaysia? Hm, very suspicious
Hm, This site's credibility is highly fishy, perhaps is much safer to stay away from the site! Why would they lied about the site's age & location? I am very scared right now, with my funds deposited with them. How can I trust this site anymore?
I am now raising a support ticket relating to the above concerns, & see what they will say about this!
BTC-arbs had responded to my support ticket. Here is their response: https://www.dropbox.com/s/7yb0nlz4d52to8h/BTC%20Arbs%20-%20Message.pdf
Do their explanation sounded reasonable to you? I think it sounded OK! What do U think?
III. MINIMUM INVESTMENT
Re: What is the min. investment?
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Qwiner on 18/02/2014 10:19:26
The home page it says: 0.25 BTC On FAQ: 0.05 BTC
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From administrator
Sent on February 18th 2014
We recently changed this. The minimum is now 0.05. Our homepage will soon be updated.
(Sorry about this, but I don't know how to do screenshot, and url link won't work, if u don't have access to my account.)
This is good news for us, as you can start to invest from as low as 0.05BTC, to minimise loss, in case anything bad did happen. Please do note that min. withdrawal is 0.01 BTC.
V. CAUTION
OK, warning all, as with any investment, there is a risk that U will lost your investment, so just be prepared for the worse (such as the owner of the site is a scammer), if U don't like to take risk, then don't invest. I will not be endorsed & be held liable by any loss, resulting from my post. So be warned & invest at your own risk.
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