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

[FreeJack2k2]

Well the clarification is, I've never really encouraged anyone to invest and have always cautioned people to only risk what they can lose...I've only posted about my own experience and my own feelings based on what I've seen posted by others. Of course there's no guarantees here. I'm just another "investor" and I fully acknowledge the possibility that it may turn out not to be legitimate. All I can say is, so far my experience leads me to believe it is. I don't have any experience at all with HYIP's or Ponzi schemes, in fact this is the first time I've ever tried something like this...so maybe that's why I'm a little less skittish. I wasn't even aware of the whole HYIP scene until I got involved with this thread. From what I've read, though, often times there ARE warning signs that people just choose not to heed. So far I haven't seen anything like that but the first day these guys publish an update that doesn't jive with what I observed in the markets that day, I'm liable to pull out.

I understand skepticism but it seems that there's such a strong desire for evidence that this is a ponzi scheme that anyone who has something positive to say about it is put under suspicion of being "in league" with BTC-Arbs somehow...which I'm not. I don't really have anything to gain or lose here by convincing you either way, so it's up to people to use their own good judgment on whether or not to invest in it. In fact, if you are not secure with risk, I'd advise you not to.

At any rate, take what I post for what it's worth and if you feel suspicious, don't invest with the site. The last thing I would want is if things DID go bad, people would try to track me down as though I had something to do with it. Considering that thought, I think I'll remove the link from my sig file.

My 'accusation' has nothing to do with affiliates. I am just putting out the possibility that you might be part of the hyip, or someone who is trying to take advantage of it. You know the amount you make on hyip is coming from other players. If btc-arbs is really a hyip, then it would perfectly be in your interest to advertise btc-arbs, defend its image and invite as many people as you can.

The fact that you never had issues in withdrawals and deposits, again as I mentioned before, doesn't mean anything. I never had any issues, I don't think there is even a single issue reported (that is still unresolved) by anyone. This doesn't mean anything because this is what exactly a hyip would do. And the fact about accurate descriptions of daily trades - common man, I am sure somebody like YOU can write it up easily (anyone who is "obsessed" with markets). Also I have checked your post history weeks ago, and again the fact that you've been posting about asics doesn't imply anything against my suspicion.

The important fact about hyip is - they don't give off big or small signs here and there and then disappear (of course unless they're idiots), they just simply disappear, without any warnings. So obviously it is pointless to look for signs, if they are really hyip, when the moment comes it will already be too late, nobody will be able to get their btc back. I hope you would agree with me 100% on this, but I am puzzled by the fact that if you're such an honest person as you say, why would you defend them by writing so many long posts filled with bunch of cloudy "facts" that mean nothing.

You also say that you've invested a lot and check posts here often because you're scared as well. This is just the same two-way logic, as it also fits perfectly with my suspicion. Of course you don't blatantly say that there is no risk involved, and aggressively encourage everybody to invest. You seem to know the limits very well. I hope for anybody readying this thread from the start, your posts are clearly standing out, in a thin line spreading hope and trust with bunch of two-way cloudy 'facts' - indirectly promoting btc-arbs. Basically, when I imagine myself operating a hyip, or as somebody who is trying to take advantage of it, you do things as almost exactly as how I would do it. So when you say "trust me bla bla, honestly bla bla" - no I can't trust you at all.

All this is just my humble opinion, I could very well be wrong accusing some ballsy innocent heavy investor.

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[lesnod11]

Has btc-arbs updated for anyone else today? My transaction log says I was paid today (but it's been a day off since the 29th), but my balance has not changed and the results calendar shows no update on the march 31st date.

[NLNico]

anyone who has something positive to say about it is put under suspicion of being "in league" with BTC-Arbs somehow...which I'm not.

You don't say "something positive"... You are 100% defending them every single time there is a legit suspicious thing about them. Every time there is a serious argument/reason for them to be a ponzi, you try to make that argument as not important or come up with an explanation.

[lesnod11]

And just as I post that question, it updates - just my luck!

[ib927]

If you don't have anything real to answer then don't.

[pipets]

anyone who has something positive to say about it is put under suspicion of being "in league" with BTC-Arbs somehow...which I'm not.

You don't say "something positive"... You are 100% defending them every single time there is a legit suspicious thing about them. Every time there is a serious argument/reason for them to be a ponzi, you try to make that argument as not important or come up with an explanation.

EXACTLY! this is what I meant by :

I hope for anybody readying this thread from the start, your posts are clearly standing out, in a thin line spreading hope and trust with bunch of two-way cloudy 'facts' - indirectly promoting btc-arbs. Basically, when I imagine myself operating a hyip, or as somebody who is trying to take advantage of it, you do things as almost exactly as how I would do it.

[TheAwer]

And once again the results are a day ahead!

I'm going to withdraw some, at least until they fix the date problems.  And I would definitely put a lot more in if they proved their authenticity somehow.  These guys could easily be legit, but until they prove it I'm going to remain skeptical.

Another thing about their referral earning.  They say they "pay 5% of all daily earnings that are earned by your referrals", but to me it looks like 10% (truncated).  This hasn't matched up just recently, but I might have not heard about one of my referrer's latest deposits. 

[Creature13]

Pardon the interruption....

I have a problem with BTC-Arbs. Everything was going fine until I enabled 2 factor authentication. After that, I was never able to log in again.

I have filled out the CONTACT US form many many times but have never recieved a reply. Upon submission of the form I recieve...

Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.

Thank you,
c13

[FreeJack2k2]

All right, well I guess I have overstayed my welcome posting in the thread. I'm not a shill for the site, but since I imagine there will always be that suspicion now, there's no point in posting anymore. Good luck to everyone, however you decide to proceed!

[TheAwer]

Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.

There was an email posted a few pages back, I believe it was something like admin@btc-arbs.com or something.  I also sent an contact form with a few questions that was never answered either.

I don't know much about using 2FA, but there is a chance you are doing it wrong?

All right, well I guess I have overstayed my welcome posting in the thread. I'm not a shill for the site, but since I imagine there will always be that suspicion now, there's no point in posting anymore. Good luck to everyone, however you decide to proceed!

I don't mind if you stay, but if you do leave please at least let us know if you find out/notice anything either positive or negative with proof. 

And there will ALWAYS be suspicion from some with anything related to investing bitcoin. 

[FreeJack2k2]

Naw, I don't feel like continually trying to fend off accusations. But yes, rest assured that if something sounds alarm bells for me and I divest, I will post about it.

[Creature13]

Quote from: Creature13 on Today at 03:53:48 AM
Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.
There was an email posted a few pages back, I believe it was something like admin@btc-arbs.com or something.  I also sent an contact form with a few questions that was never answered either.

I don't know much about using 2FA, but there is a chance you are doing it wrong?

==========================================================================

Thanks. I will give that email a shot. You are correct. I very well may be doing it wrong. That's why I need help and why I've been submitting forms for weeks.

I'll see if I get any help via email. maybe the form is broken.

Thanks again,
c13

[dyask]

All right, well I guess I have overstayed my welcome posting in the thread. I'm not a shill for the site, but since I imagine there will always be that suspicion now, there's no point in posting anymore. Good luck to everyone, however you decide to proceed!

You don't have to leave just because of pipets.  I don't really think pipets' has a valid point and the reasoning used is rather weak.  

[NLNico]

FreeJack2k2, first of all I do not think you are a shill, but IMO your posts do keep defending them just a bit too much. If there are people depositing because of your "reassuring posts" and after all it does turns out to be a ponzi, then I assume you would have preferred to not convince others to deposit?

I know you post "don't risk more than you can afford to lose" and stuff, but by defending btc-arbs against "ponzi arguments" you are convincing depositors more than anyone by removing their doubts.


Even an obvious lie like: "We currently have 10 employees".. what do you say:

It's most likely untrue that there are 10 employees on this, but I do believe he's got at least one or two other people helping with the trading.

You make it like "no big deal" but it is a big deal! If they easily lie about their own company and "identity", it's not very hard to imagine they lie about other things too.


Now I could repeat all the arguments and your replies, but I hope you understand what I mean. Once again, I do not think you are a shill but just a true believer in them or something, but I am not sure if you should really try so hard to defend them.

[pipets]

Naw, I don't feel like continually trying to fend off accusations. But yes, rest assured that if something sounds alarm bells for me and I divest, I will post about it.

I hope you understand that I never asked you to leave or something like that, I just wish you to stop making long posts filled with cloudy two-sided arguments. As NLNico points out, those are all making many of the raised issues = "no big deal". From simple things like 10 workers or cocktail parties, to potentially more serious things like "meeting with btc leaders" - we all (who have invested) need to consider and weigh them very carefully. The main goal for people who post/watch this thread is to play safe in this game, and I am sure you would agree that only solid factual arguments serve the best purpose.

If you notice something really worth in support or against the website, please do share here.

[dyask]

Naw, I don't feel like continually trying to fend off accusations. But yes, rest assured that if something sounds alarm bells for me and I divest, I will post about it.

I hope you understand that I never asked you to leave or something like that, I just wish you to stop making long posts filled with cloudy two-sided arguments. As NLNico points out, those are all making many of the raised issues = "no big deal". From simple things like 10 workers or cocktail parties, to potentially more serious things like "meeting with btc leaders" - we all (who have invested) need to consider and weigh them very carefully. The main goal for people who post/watch this thread is to play safe in this game, and I am sure you would agree that only solid factual arguments serve the best purpose.

If you notice something really worth in support or against the website, please do share here.

Frankly I'm not sure why you are NLNico are even posting here, although you are welcome to do so.   It is almost like you want to see the site just disappear.   Maybe you have already made up your minds.   I at least have a small amount of skin in this game and I'm very concerned that it could be scam, however it isn't nearly as risky as other investments I'm involved with, like buying AGS.   

Anyway you have like 4 posts and they are all attacking FreeJack2K2.   That doesn't come across as very balanced or objective.   It does seem like there is growing frustration with the fact that BTC-Arbs hasn't disappeared yet.   

[Qwiner]

Quote from: Creature13 on Today at 03:53:48 AM
Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.
There was an email posted a few pages back, I believe it was something like admin@btc-arbs.com or something.  I also sent an contact form with a few questions that was never answered either.

I don't know much about using 2FA, but there is a chance you are doing it wrong?

==========================================================================

Thanks. I will give that email a shot. You are correct. I very well may be doing it wrong. That's why I need help and why I've been submitting forms for weeks.

I'll see if I get any help via email. maybe the form is broken.

Thanks again,
c13

I'll try to open a support ticket about this issues, about the "forget password" issues, using my account, and see what they will say.

[NLNico]

It is almost like you want to see the site just disappear.   Maybe you have already made up your minds.   I at least have a small amount of skin in this game and I'm very concerned that it could be scam

So if you are concerned it's a scam, isn't it good to warn others with your concerns? Or do you enjoy if other people get scammed?

If everyone is just posting here how great they are, it isn't very balanced either? Especially since the average HYIP/ponzi would make all of their users very happy ... until they all get scammed in 1 time.





But yes, I will agree with you guys again. This is a very legitimate finance business with 10 employees and an office in Geneva (one of the world cities in the finance world - very expensive offices) so probably at least $500.000 costs in the first year right? No problem for this unknown company.

They offer let's say 1% daily ROI, stunning 3778% ROI in a year.. so with only $500.000 they could make $19 million in 1 year.. great right?! But the private investors prefer to just invest in the expensive office and 10 employees.. so they need YOUR BITCOINS to actually do the arbitrage!

Their website is an exact copy of a ponzi site that scammed a lot of people for a lot of money (note: before that scam, their users were very happy, no problems.) But hey, just using the same HYIP script, what's the problem?

No one has any clue who these 10 people are but they have a very professional e-mail address that starts with "admin@" (only nerds or hackers use e-mail addresses like that.) Just a pity that they have no representative on bitcointalk or reddit (Coinbase, Kraken, BTC-E, Just-Dice, etc - every serious bitcoin business has some representatives on either of these sites.) But still these complete unknown strangers are discussing "the future of bitcoin" (lmao - actual quote!) with the industry leaders and the biggest entrepreneurs of the bitcoin community.



Seems legit.

[pipets]

Why number of posts matter at all? I had my 1st post on this forum today, but I've mined my 1st btc way before most people did on this forum.

As I mentioned, I have been watching this thread from day 0 and the only reason I got registered here today was to share my opinion on FreeJack2k2's posts. Since past week or so I started to have second thoughts on him, and finally today I felt like I should share my opinion. If you read my and NLNico's posts, I hope the reasons are quite clear.

Couple of weeks ago I have started there with 2.6btc, and day before yesterday I withdrew 3btc. Like most people here I really wish/hope that this site is legit and 0.4btc I made didn't came directly from someone else's deposit, but we all know that the reality doesn't care about our wishful thinking. I thought this thread would be very helpful especially for newcomers if we all discussed those many legitimate concerns openly without shrugging them under the carpet.

So I hope I made it clear that I am not frustrated because arbs is still working, but I was frustrated to FreeJack2k2 as he was discouraging doubts about legitimate concerns. Preventing newcomers from scams through an open balanced discussion is the least we can do to support bitcoin.

[dyask]

But yes, I will agree with you guys again. This is a very legitimate finance business with 10 employees and an office in Geneva (one of the world cities in the finance world - very expensive offices) so probably at least $500.000 costs in the first year right? No problem for this unknown company.

They offer let's say 1% daily ROI, stunning 3778% ROI in a year.. so with only $500.000 they could make $19 million in 1 year.. great right?! But the private investors prefer to just invest in the expensive office and 10 employees.. so they need YOUR BITCOINS to actually do the arbitrage!

* I live in Tokyo which is probably more expensive than Geneva and there are plenty 10+ people companies in very expensive parts of town that get by working out of an apartment.   Location isn't really a serious cost factor.   

* 1% daily is higher than they have been doing, at least in March.   But let's go with you 3778% ROI, for $500 that works out to $19,000 not $1.9 million.    If they are real, the gains will get lower as the market gets mature, but they should stay positive.   

* They are dealing in bitcoin, which isn't something that a huge number of large private investors are dealing in.     

You other concerns are possible more valid although there have been rebuttals posted about them.   You could be right and you might not be, only time will tell.