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

[octopus1]

Truncate (rather than round) after the thousandth's, i.e. a profit of .00198 = .001. That will give the correct answer, and I suspect is a large part of what makes the site profitable for them. For a 10K users on a good day, that's about 1 BTC.

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?

[Avalaxy]

they do seem to update their daily results around 11PM in Central European time (which is the time in switzerland)

Time is different every day. It fluctuates heavily. It's usually updated during US time (so for us europeans that's after noon until somewhere during the night).

[NullOp]

Is there interest compounding? It doesn't seem to be.

[cesmak]

Is there interest compounding? It doesn't seem to be.

Yes there is.

Cheers

[btcexpert]

Hi,
we are tracking btc-arbs results, our script checks on result's page every 5 minutes.
These are our last records:
| 70 | 2014-04-09 21:25:04 | 1.00%  | 2014-04-09 | 1396998000 |
| 71 | 2014-04-10 20:15:04 | 2.75%  | 2014-04-10 | 1397084400 |
| 72 | 2014-04-12 00:20:04 | 2.18%  | 2014-04-11 | 1397170800 |
| 73 | 2014-04-12 13:55:23 | 0.80%  | 2014-04-12 | 1397257200 |
| 74 | 2014-04-13 19:50:05 | 1.09%  | 2014-04-13 | 1397343600 |
| 75 | 2014-04-14 21:45:04 | 1.72%  | 2014-04-14 | 1397430000 |
| 76 | 2014-04-15 22:25:04 | 1.17%  | 2014-04-15 | 1397516400 |
| 78 | 2014-04-17 19:05:04 | 1.22%  | 2014-04-16 | 1397602800 |
| 82 | 2014-04-18 11:27:02 | 0.60%  | 2014-04-17 | 1397689200 |
| 83 | 2014-04-18 18:25:14 | 0.01%  | 2014-04-18 | 1397775600 |
| 84 | 2014-04-19 23:05:04 | 0.50%  | 2014-04-19 | 1397862000 |
| 85 | 2014-04-20 16:45:04 | 0.01%  | 2014-04-20 | 1397948400 |

The second column contains date and time (CEST - Central European Summer Time) of every update, I thought it was useful to share.

We are offering a notification service for btc-arbs on our site btcexpert.com, and we are still waiting withdrawals (36 hours passed).

I also tried to track back bitcoins sent from btc-arbs's address to my btc addresses and I discovered these big balances...

http://blockr.io/address/info/1EmUotfoCvQAmcXVXmRxYzdwyZ7xbj1xS7
http://blockr.io/address/info/19aS3aRQ467JbFoAFCRaNwmMKKhDNTbAwV

Let's wait to see what happen next days.

[NullOp]

Has there been any addresses or transactions that can be confirmed to involve exchanges? Some confirmation that they are using exchanges as opposed to sending new money for withdrawal requests (ponzi) would be reassuring.

Also, my assumption is that they only post partial gains as the interest to tide them through days with no gains (or partial loss) where they just report 0.01%. e.g. They make 3% one day but only report 1%. No bank transfers complete in the next couple days so they report an interest rate using up some of the prior gains.

[btcexpert]

I also think that they only post partial gains as you wrote.

Regarding transactions or addresses that can be confirmed to be involved in exchanges... it's hard just because exchanges use bitcoin servers that can generate unique random addresses for every customer.
I think it's more easy to discover if they are using new deposit to complete withdrawal requests, in this case we need to track what happen to bitcoins that we sent to an address that btc-arbs provides to us, but even if we can do this, they could use a mixing service like bitcoinfog.com, and so... it could be really hard to track what is going on.

I think they are doing some movements right now here: http://blockr.io/address/info/16R14EH4v8A9GPXkAAP8gcMFBA8oxA8nbY

[tom14cat14]

For those worried about not getting withdrawals if you read what they post every day they have told us they are a skeleton crew for the holidays. There fore any withdrawal that needs to be reviewed will have to wait. Also my opinion on those worried about how they round their gains who really cares. As long as they pay you a profit you are happy with and they don't shut done who cares if they round in their favor.

[dmz241]

I have yet to invest in btc arbs but found it intriguing. I do have a question though which has bothered me for a while. They claim that they trade btc in different exchanges (I am new to bitcoin etc) And they show rates of different exchanges of btc converted to dollars. Correct me if I am wrong but any exchange you trade at and want to cash out requires you to pay a certain fees if its in dollars. So basicly they are not only make you profit they are also coving those withdrawal expenses at the same time. Dont you guys think thats a bit too much?

[dyask]

compounded interest really adds up quickly, and the difference between even 1.4% and 1.5% are extreme. But still, i will not worry, even 0,1% interest is better then 0%.

By the way, the average interest so far is about 1.4% I have calculated that if they keep compounding interest at the same rate (1.4% per day average) that an initial investment of just 0.3 BTC would become over 40 BTC in a year. This is really insane. (also, i did not truncate like they do).

I was wondering how you came up with 1.4% as it wasn't that high in March, then I saw February had to very large returns.  (7 days over 3% with one even being 5.9%)   A lot of that had to do with GOX.   It probably isn't fair to continue to project those types of returns forward as you should expect the returns from this type of trade to taper off over the months.  

In March there were only 8 days above 1.4% and the highest was on 2.28%.   There were also 10 days below 1%.  

So far the April returns have even been more mild.  

I would expect the returns will continue to be reduced each month.   There could be some wild event that changes that, but in general the trend is towards lower returns.  

[sorrynn]

believe or not, still have not received my BTC yet ( I asked a withdrawal of 1.12 BTC) - and it was 84 hours ago - somewhere last Thursday evening....I have a friend who requested a bit more than 0.2 btc in the same period with me, and he received them, without the fee mentioned on site...which is good for him. I placed a ticket and I received the answer that my ticket is not high important so if on Monday I will not receive my BTC I should place the ticket again...and for sure today is Monday and still nothing in my account...so I placed again a ticket..and now I am waiting...keep you posted.

Cheers

[jagemo]

believe or not, still have not received my BTC yet ( I asked a withdrawal of 1.12 BTC) - and it was 84 hours ago - somewhere last Thursday evening....I have a friend who requested a bit more than 0.2 btc in the same period with me, and he received them, without the fee mentioned on site...which is good for him. I placed a ticket and I received the answer that my ticket is not high important so if on Monday I will not receive my BTC I should place the ticket again...and for sure today is Monday and still nothing in my account...so I placed again a ticket..and now I am waiting...keep you posted.

Cheers

I requested a withdraw of 1BTC after the problems last friday, still didn't receive, my ticket for it has no answers for now...
I'm not yet worried but I hope i get it asap ...


Steven

[nightengale]

The guy said operations would be diminished over the holiday weekend people. I have a feeling they'll come through today.

[tom14cat14]

The guy said operations would be diminished over the holiday weekend people. I have a feeling they'll come through today.

I think they also are limited today but would have to go back and look. It does amaze me how many people do not pay attention. They said don't send a ticket if you can't withdraw from Thursday thru mon because they don't have the man power to answer it. They also have to manually check larger withdrawals so one can assume it will be today or tomorrow before it is processed. Might even be a day longer because of the back log. If you can not wait 4 or 5 days for a withdrawal when you were told it will take awhile this weekend then maybe you should not have invested with these guys in the first place.

[Avalaxy]

Withdrawals are done manually as far as I know. It's not strange that you withdrawal hasn't come through yet, because it was good friday, weekend and easter.

[sorrynn]

hello,

I received another answer stating the weekend was legal holiday so the 36 hours time frame does not apply to legal holiday...it means I still have probably 2 days of waiting again...still others were able to request btcs out and received them already....maybe smaller amounts than I had...still not worried yet....but interesting approach.

Again, good support but transfer still have not happened yet.

keep you posted

[lajz99]

I also submitted a withdrawal request on Thursday of last week and am yet to receive my ~.85btc payout.

[crayboy29]

It was Easter long weekend. Geez you girls really have your nickers in a knot about the website being down for one day!! Chill the fuck out ey ?

[lajz99]

It was Easter long weekend. Geez you girls really have your nickers in a knot about the website being down for one day!! Chill the fuck out ey ?

Yea, I'm sure it's very time consuming to click "approve" on a withdrawal...  Thanks for your useless post.

[nightengale]

It was Easter long weekend. Geez you girls really have your nickers in a knot about the website being down for one day!! Chill the fuck out ey ?

Yea, I'm sure it's very time consuming to click "approve" on a withdrawal...  Thanks for your useless post.

Actually, it may be that the coin has to be pulled from an exchange or moved to a new wallet before someone can click on "approve". If their business model is what they say it is, it makes sense to do this in larger batches rather than every time a pannicky customer demands his 0.85 BTC. If you do not have it by this time tomorrow, then it might be time to start worrying.