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

[y80]

@jseppeli

where was that quote copied from?

First and foremost, we would like to take this opportunity to apologize for the website downtime that we have experienced for roughly the past 12 hours. Due to a hardware failure in our data centre, our website was temporarily offline. During this time, arbitrage trading continued as per usual, however users were not able to access their accounts. We have pinpointed the point of failure, and have taken steps to ensure that it does not happen again. Please do not contact us to inform us that the website was offline, we were aware and such messages serve solely to create a support backlog.

Next on the agenda, Easter. Due to the Easter Holidays, our staff will be working limited hours this weekend, including Friday and Monday. Please refrain from sending unnecessary support messages, and allow for a slightly longer than usual response time.

And finally, we'll move on to the day's results. Our arbitrage was limited today since the entire team was focused on restoring our servers. We did however manage a 0.6% result.

Results page

[1714132330]

1714132330

[1714132330]

1714132330

[1714132330]

1714132330

[1714132330]

1714132330

[1714132330]

1714132330

[1714132330]

1714132330

[Avalaxy]

From the Results page. They write a little piece every day: https://btc-arbs.com/results.html

Click on the dates (so for today, click on 17).

[zimmah]

ps gonna build up to the 50k and head to one of those cocktail parties... bam son

yeah i was planning on that as well. Although it will probably take me a while to get that much money.

[Cronos7]

It back online! 

The only question is for how long! All sane members will withdraw now.

I will not take all my BTC out. I already take only the profit BTC and leave the initial deposit. The fact in my case tell me this guys are serious. In my opinion if they were here to steal the money, they wont bring the webpage back, allowing all users withdraw their money. In fact I have made a withdraw and it go through perfect.

[alnitak]

The evidence posted on this thread shows nothing other than a dns problem followed by some server issues. It does not show a scam, or negligence, or incompetence. There is absolutely no way you can tell, unless you get on that server and poke around from the inside.

Whilst this server might just be port forwarding / proxying to a bunch of internal (secured) servers, the presence of an open rpcinfo port (port 111) absolutely indicates negligence and incompetence on the part of the server administrator.  There is zero reason for this port to be open on a public facing server.  This very strongly suggests that this server is not a proxy, but is directly running all of these services.

FWIW, the server response string of "OpenSSL/1.0.1e-fips" does not necessarily indicate a HeartBleed vulnerable version of OpenSSL.  Some Linux distributions (especially RedHat and derivatives) ship with particular version numbers for packages, but back-port essential patches without bumping the version number.

[mikeMI]

In the words of Gilda Radner...

...NEVER MIND

[airwalker2662]

Well maybe next time the site is down for less than a day ( yes, it can happen again ), people won't start acting a fool and creating such FUD. Or maybe they will. Just goes to show you what happens when someone invests 8 dollars and 17 cents and freaks the flip out when he can't view his balance...

[Rannasha]

Well maybe next time the site is down for less than a day ( yes, it can happen again ), people won't start acting a fool and creating such FUD. Or maybe they will. Just goes to show you what happens when someone invests 8 dollars and 17 cents and freaks the flip out when he can't view his balance...

It's still a Ponzi scheme though, whether the website is online or offline. Once enough money has been collected or when withdrawal requests start to outpace new deposits, the plug will be pulled. This can be next week, or it can be in many months. Some successful online Ponzi schemes last for over a year before exploding.

[airwalker2662]

Well maybe next time the site is down for less than a day ( yes, it can happen again ), people won't start acting a fool and creating such FUD. Or maybe they will. Just goes to show you what happens when someone invests 8 dollars and 17 cents and freaks the flip out when he can't view his balance...

It's still a Ponzi scheme though, whether the website is online or offline. Once enough money has been collected or when withdrawal requests start to outpace new deposits, the plug will be pulled. This can be next week, or it can be in many months. Some successful online Ponzi schemes last for over a year before exploding.

Is it too radical to believe they are legitimately and successfully executing arbitrage? Even if it turns out to be nothing more than a scam, some here will profit. I am not investing all my BTC in it, it is a definite risk, but the returns I have made thus far are remarkable. Furthermore, why scam everyone out of BTC when it is at one of it's lowest points? I would get more nervous when the value is back to normal, and that could very well be the intention if it turns out to be a ponzi. Until that time arrives, my power bill is being paid each day.

[micers]

I am trying to make the results page percentages match my actual results in a spread sheet and definitely having trouble matching them up.

Probably calculating it wrongly, anyone manage to make that work?

[sorrynn]

you may all be right or wrong...one thing is sure: I requested a withdrawal for all my btc amount there (not much, a bit more than 1 btc). I will keep you posted in I will receive them in 36 hours, as stated.

I need that anyhow for personal expenses.

Cheers

[Rannasha]

Well maybe next time the site is down for less than a day ( yes, it can happen again ), people won't start acting a fool and creating such FUD. Or maybe they will. Just goes to show you what happens when someone invests 8 dollars and 17 cents and freaks the flip out when he can't view his balance...

It's still a Ponzi scheme though, whether the website is online or offline. Once enough money has been collected or when withdrawal requests start to outpace new deposits, the plug will be pulled. This can be next week, or it can be in many months. Some successful online Ponzi schemes last for over a year before exploding.

Is it too radical to believe they are legitimately and successfully executing arbitrage?

Arbitrage is a legitimate trading strategy and can yield some profits. I know this, because I operate a simple arbitrage bot myself. However, the profits that they claim to achieve are way beyond what you could reasonably expect considering all the funds that are in transit through the slowass bank-system and the immense costs of having 10 employees and an office in one of the most expensive cities in the world (Geneva).

I've written out the above in much more details in previous posts in this thread, so I won't bother to redo that. But if no alarmbells go off when you see this site and its claims, then you need to get your Ponzi-sensors checked.

[airwalker2662]

I am trying to make the results page percentages match my actual results in a spread sheet and definitely having trouble matching them up.

Probably calculating it wrongly, anyone manage to make that work?

(BTC total) - (daily amount earned) * 1.0(% of that days return)

[micers]

I am trying to make the results page percentages match my actual results in a spread sheet and definitely having trouble matching them up.

Probably calculating it wrongly, anyone manage to make that work?

(BTC total) - (daily amount earned) * 1.0(% of that days return)

I am computing (today's balance) * (results percent) + (today's balance) == (new balance)

For example:  bal = 1.0 BTC, results = 2.34%
1 * (.0234) + 1 = 1.0234

It is not modeling correctly in the spread sheet.  It looks like rounding errors.  I think they are rounding up their results percentages.  I've repeatedly asked them to provide higher fidelity data and/or CSV downloads suitable for putting in a spread sheet.  Those support requests have been ignored on every account I manage.

I will be reducing my exposure.

If you look at the entry on the calendar for 01 April you will see that the percentage is being calculated to at least three decimal places but is being reported to two.

I suspect that the developer is rounding up to the next higher place in the second decimal place rather than doing true rounding.  That would explain the problems I am having getting things to match up.

[dyask]

I'm happy I was wrong, but now have to hope they can survive the likely run on the bank.   Maybe the Easter excuse will help.  (I hope so, because I'm too far down the list at this point.) 

[sorrynn]

what is strange for me is that they don't have anything posted on their front page about the downtime or any explanation of what happened. Happy to see it back again, but at least my bell gave me a ring....I may be wrong proceeding with my withdrawal, but I will stay tuned and if everything goes well, I may re-invest some btc there....still I have my reservations until I will see my btc back in my original wallet.
Cheers

[jseppeli]

what is strange for me is that they don't have anything posted on their front page about the downtime or any explanation of what happened. Happy to see it back again, but at least my bell gave me a ring....I may be wrong proceeding with my withdrawal, but I will stay tuned and if everything goes well, I may re-invest some btc there....still I have my reservations until I will see my btc back in my original wallet.
Cheers

Read the results page for todays result

[crayboy29]

Im leaving my coin in! please stop withdrawing guys!! you will bring the whole place down! lol

[micers]

what is strange for me is that they don't have anything posted on their front page about the downtime or any explanation of what happened. Happy to see it back again, but at least my bell gave me a ring....I may be wrong proceeding with my withdrawal, but I will stay tuned and if everything goes well, I may re-invest some btc there....still I have my reservations until I will see my btc back in my original wallet.
Cheers

Read the results page for todays result

Did not know you needed to click the number on the calendar.

[sorrynn]

better now and thanks for clarification I didn't know that