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

[dyask]

Man - you're lucky..I requested a withdrawal of 1.12 btc with 2 hours later than you..now I am stucked with them on the legacy account and your transaction was completed...congrats

Ha!  My plan was to do the withdraw today.  I'm the real dope!

[sorrynn]

I think they will put some small amount on a daily basis to our btc account...and somewhere in future we will be able to see a part of our investment back...as regarding the arbitrage...interesting percentage for yesterday..and still in the transactions I see no revenue for yesterday. I started with 1.12xx btc in my legacy account and 0.0112 in my active balance..I asked for a withdrawal and I received that amount (without any fee) in a matter of hours..so for small amounts they move fast...and I woke up this morning and my active balance was showing 0.0027 btc - small fraction added (and my legacy account is 1.1099btc now)...maybe in 2 weeks I'll have 0.01 btc to withdraw...;lol..this is a keep on dreaming situation...I am confident I can kiss my investment goodbye from now on...let's hope for the best and expecting the worst still don't believe in the acquisition.

[dyask]

I think they will put some small amount on a daily basis to our btc account...and somewhere in future we will be able to see a part of our investment back...as regarding the arbitrage...interesting percentage for yesterday..and still in the transactions I see no revenue for yesterday. I started with 1.12xx btc in my legacy account and 0.0112 in my active balance..I asked for a withdrawal and I received that amount (without any fee) in a matter of hours..so for small amounts they move fast...and I woke up this morning and my active balance was showing 0.0027 btc - small fraction added (and my legacy account is 1.1099btc now)...maybe in 2 weeks I'll have 0.01 btc to withdraw...;lol..this is a keep on dreaming situation...I am confident I can kiss my investment goodbye from now on...let's hope for the best and expecting the worst still don't believe in the acquisition.

What I believe is our outage last was due to them reprogramming the site for this legacy/active balance scam.   As you say there isn't much we can do about except to try and get what btc out we can.     

[crayboy29]

Best case scenario is we see a trickle of funds into active account until the whole thing goes under. We are like fish being fed little breadcrumbs, diving to the surface to take what we can before it stops.

[sorrynn]

Unfortunately I agree...

[lesnod11]

I woke up to the exact same balance I went to bed with, which tells me this transfer from legacy to active account is not automated, so this checking (which isn't really taking place, but I'm playing along), is done manually. So to my previous post point: transfering these small amounts to everyone's account is high overhead and doesn't make sense.  What makes sense is: during the last outage, there was a run on the accounts, now in order to make up for it, the funds have been frozen and there is a mad scramble behind the scenes to try to make some of the money back needed to pay everyone.

[dyask]

I woke up to the exact same balance I went to bed with, which tells me this transfer from legacy to active account is not automated, so this checking (which isn't really taking place, but I'm playing along), is done manually. So to my previous post point: transfering these small amounts to everyone's account is high overhead and doesn't make sense.  What makes sense is: during the last outage, there was a run on the accounts, now in order to make up for it, the funds have been frozen and there is a mad scramble behind the scenes to try to make some of the money back needed to pay everyone.

If you are right that means we got Goxed!

[benjamin07]

Hi, proposal:

1. on blockchain the receiving wallet of any scammed account is red flagged.
2. Any transaction from a red flagged wallet into any other wallet, the destination wallet is red flagged as well.
3. The only way for the scammer to stop red flagging wallets is to stop making transactions from that wallet: money stolen will never be able to be used.
4. Someone writes a plugin for BTC client, whenever anyone newbie or not want to transfer money from their wallet to a destination wallet, a message alert says

"you are transfering money to a contaminated wallet. this means that either the person you are paying is a scammer or has received stolen money before"

ultimately Click I know what i'm doing to continue or the software simply rejects the transaction.

money stays in frozen wallet until technology and laws change to lock to the SOB in a dungeon an feed him the key

[sorrynn]

and 'Adam" who quit (theoretically) this wonderful project is somewhere on the globe (most probably a nice island - recently bought with our btc)....drinking a cocktail...as I said: it is a case of keep dreaming ...I won't believe anything until I will see my btc withdrawal...which does not seem will happen soon. ...plus, I remember one message (point 6 from the acquisition email):

6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.

I am very curious: was anyone among us that actually was able to have his/her USD sent to their account?
We are talking only about BTCs here...no USD...it is strange why they will reimburse the USD - bank transfers are probably better monitored and you can be better tracked down...or am I wrong?

Is there a way we can recover our investments regarding BTC? Any constructive message is welcome...other critics are welcome as well

[underhood]

Hi, proposal:

1. on blockchain the receiving wallet of any scammed account is red flagged.
2. Any transaction from a red flagged wallet into any other wallet, the destination wallet is red flagged as well.
3. The only way for the scammer to stop red flagging wallets is to stop making transactions from that wallet: money stolen will never be able to be used.
4. Someone writes a plugin for BTC client, whenever anyone newbie or not want to transfer money from their wallet to a destination wallet, a message alert says

"you are transfering money to a contaminated wallet. this means that either the person you are paying is a scammer or has received stolen money before"

ultimately Click I know what i'm doing to continue or the software simply rejects the transaction.

money stays in frozen wallet until technology and laws change to lock to the SOB in a dungeon an feed him the key

Problem of your proposal is centralization of power... e.g. person who decides which wallets are red-flagged will have so much power.
Also new deposit addressees can be and usually are generated for each new deposit. You can generate millions of them as you will. So tracking it this way is nonsense

[lesnod11]

and 'Adam" who quit (theoretically) this wonderful project is somewhere on the globe (most probably a nice island - recently bought with our btc)....drinking a cocktail...as I said: it is a case of keep dreaming ...I won't believe anything until I will see my btc withdrawal...which does not seem will happen soon. ...plus, I remember one message (point 6 from the acquisition email):

6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.

I am very curious: was anyone among us that actually was able to have his/her USD sent to their account?
We are talking only about BTCs here...no USD...it is strange why they will reimburse the USD - bank transfers are probably better monitored and you can be better tracked down...or am I wrong?

Is there a way we can recover our investments regarding BTC? Any constructive message is welcome...other critics are welcome as well

I tried to move a USD amount into btc-arbs, I requested twice for the wire information and never received anything, so I bought btc and gave up on the USD idea. I would be surprised if anyone had any USD there.

[rynomster]

Everyone is panicking, but its been less than 24 hours...
Why don't we wait until this evening to see if we get our interest?

I agree it is strange and I myself am a bit worried, but I think its better to be positive about a situation than negative...
negativity attracts the wrong things..

I'd say give it the 48 hours they initially said on Monday night to respond to tickets, as they probably have a massive backlog.

If they do pull through, it will probably go bigger and better than ever

If you look at the deposits, there have been a few thousand bitcoins deposited in the past few days, and there are still deposits going through.
I think we should wait at least 48 hours before we open a "missing" case

just my opinions... hopefully we all get our BTC back

[Rannasha]

and 'Adam" who quit (theoretically) this wonderful project is somewhere on the globe (most probably a nice island - recently bought with our btc)....drinking a cocktail...as I said: it is a case of keep dreaming ...I won't believe anything until I will see my btc withdrawal...which does not seem will happen soon. ...plus, I remember one message (point 6 from the acquisition email):

6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.

I am very curious: was anyone among us that actually was able to have his/her USD sent to their account?
We are talking only about BTCs here...no USD...it is strange why they will reimburse the USD - bank transfers are probably better monitored and you can be better tracked down...or am I wrong?

Is there a way we can recover our investments regarding BTC? Any constructive message is welcome...other critics are welcome as well

I tried to move a USD amount into btc-arbs, I requested twice for the wire information and never received anything, so I bought btc and gave up on the USD idea. I would be surprised if anyone had any USD there.

Giving up wire information would make the entire operation traceable by law enforcement. A smart Ponzi-operator will prefer payment systems that are not traceable in that way. Bitcoin is ideal for this purpose. Some third-party payment processers for USD also offer sufficient privacy for the recipient.

[rynomster]

They're advertising on google... surely google ads require you to give some information?

[benjamin07]

Thanks for review, have a second think about it, i did and i think we need the option to accept incoming transactions.

People with enough power = Gavin & Luke Jr or similar i don;t mind they are already writing the wallet app itself!

Also could be an Optional plugin app written by anyone. List administered by reputable entities such at Bitcointalk admins. Once the list is out there will be other people offering the same service, people who will charge you money to do the homework for you ... there could be many registries of stained wallets, you can point your app to any or all of them.

I'd rather have it part of the wallet while BTC is still an experiment, but that's just one vote.

Regarding new addresses, first the comparison has to be machine, you can't expect people to look at wallets and tell the difference, they could match all but one letter: has to be machine made via script.

New address for each transaction does not matter at all, the new address they create will be stained immediately the minute they move anything into it. If you are innocent and pay them money, you are right maybe your wallet does not have to get stained because you did not profit: the messaged popped up in your face and you clicked yes i want to pay this stained wallet. You took the chance and lost the money, does not mean you are a thief, but if you are noob and you have good money in your wallet and someone wants to send you money, you are warned it is coming from stained wallet and if you accept then as you would in real money you'd be VERY accountable!

2 ways to unstain your wallet:
1. stupid way is to return full amount to sender (exact full amount). you pay network fee which you can set to 0.00000001. but you have to pay that, can't return all minus the fee you'll still be stained.
2. better way is the wallet app itself notifies you that you have an incoming transaction and you need to accept it. There is NO problem in that: the transaction does not become a transaction encapsulated in a block to be solved Until the destination has approved it.

It is like sending email, but at the receiving end, you don;t get the email straight away, you get a notification: person X wants to send you an email, do you accept? no: exchange cancels transfer as if it didn't happen, if yes then you get it ...

all easily feasible.

No problem even for high speed transactions such as in exchanges: if the wallet is not red flagged then no need for manual acceptance.

Good thing with the block chain is that you can retrospectively stain all wallets: say the son of a B talks to you today and you don't know he's going to scam you, you only find out at the end, then the red flagging starts from the minute the piece of S started his transaction with you.

[Rannasha]

They're advertising on google... surely google ads require you to give some information?

You can pay for Google ads with coupons that are given away as promotion all the time. No need to add any billing information that can be traced back to you.

[rynomster]

They're advertising on google... surely google ads require you to give some information?

You can pay for Google ads with coupons that are given away as promotion all the time. No need to add any billing information that can be traced back to you.

Well lets just be positive and have faith... 75% of my btc was in there, and I wanted to withdraw it tomorrow

[sorrynn]

Everyone is panicking, but its been less than 24 hours...
Why don't we wait until this evening to see if we get our interest?

I agree it is strange and I myself am a bit worried, but I think its better to be positive about a situation than negative...
negativity attracts the wrong things..

I'd say give it the 48 hours they initially said on Monday night to respond to tickets, as they probably have a massive backlog.

If they do pull through, it will probably go bigger and better than ever

If you look at the deposits, there have been a few thousand bitcoins deposited in the past few days, and there are still deposits going through.
I think we should wait at least 48 hours before we open a "missing" case

just my opinions... hopefully we all get our BTC back

Since this Monday they sold the business...what else can happen? allow all members withrdaw their BTC? ain't gonna happen...they make smart moves, and I can prepare a nice excel spreadsheet with interests for each user and then put it on the site...and in reality no BTC for that user..or at least they appear as blocked in the wonderful legacy account from where you cannot withdraw...meanwhile the BTCs are being moved from 1 wallet to another one to make it more hard to trace...and then print a cold wallet and leave it there for 2-3 years...and then there you go ...fresh money from us ... I don't think I am negative, but realistic...I accept my loss, but I have seen nothing good from last Thursday until now...the daily interest does not warm me up enough...I need to see the btc in my active account...then ask a withdrawal...and then see it in my wallet...that would be the point of thinking again to reinvest there....a smaller amount of course...what I have seen is what majority describes: withdrawal requested last Thursday, nothing over the weekend, opened 2 tickets, got answers (we are low personnel over the weekend if the problem is still up next Monday contact us again and: we did not processed any withdrawals over the weekend - message from Adam, and I have seen 2 people at least that were able to withdraw btc)...then the wonderful sell to the brilliant corporation...and now my withdrawal cancelled by admin and moved tot he legacy wallet, and 0.0112 (1%) from my amount in my activ balance...and I made a withdrawala of that for checking..in matters of hours I received that amount in my wallet...so this is the reality....not negative state...my other comments are to make fun of how "smart ass" I am - that is positive

[sunny1]

Thanks for review, have a second think about it, i did and i think we need the option to accept incoming transactions.

People with enough power = Gavin & Luke Jr or similar i don;t mind they are already writing the wallet app itself!

Also could be an Optional plugin app written by anyone. List administered by reputable entities such at Bitcointalk admins. Once the list is out there will be other people offering the same service, people who will charge you money to do the homework for you ... there could be many registries of stained wallets, you can point your app to any or all of them.

I'd rather have it part of the wallet while BTC is still an experiment, but that's just one vote.

Regarding new addresses, first the comparison has to be machine, you can't expect people to look at wallets and tell the difference, they could match all but one letter: has to be machine made via script.

New address for each transaction does not matter at all, the new address they create will be stained immediately the minute they move anything into it. If you are innocent and pay them money, you are right maybe your wallet does not have to get stained because you did not profit: the messaged popped up in your face and you clicked yes i want to pay this stained wallet. You took the chance and lost the money, does not mean you are a thief, but if you are noob and you have good money in your wallet and someone wants to send you money, you are warned it is coming from stained wallet and if you accept then as you would in real money you'd be VERY accountable!

2 ways to unstain your wallet:
1. stupid way is to return full amount to sender (exact full amount). you pay network fee which you can set to 0.00000001. but you have to pay that, can't return all minus the fee you'll still be stained.
2. better way is the wallet app itself notifies you that you have an incoming transaction and you need to accept it. There is NO problem in that: the transaction does not become a transaction encapsulated in a block to be solved Until the destination has approved it.

It is like sending email, but at the receiving end, you don;t get the email straight away, you get a notification: person X wants to send you an email, do you accept? no: exchange cancels transfer as if it didn't happen, if yes then you get it ...

all easily feasible.

No problem even for high speed transactions such as in exchanges: if the wallet is not red flagged then no need for manual acceptance.

Good thing with the block chain is that you can retrospectively stain all wallets: say the son of a B talks to you today and you don't know he's going to scam you, you only find out at the end, then the red flagging starts from the minute the piece of S started his transaction with you.

Sorry you tell you, but what you are talking here is nonsense. That is not how Bitcoin and the wallets are working.

[lesnod11]

What nobody has explained is 'why all the theatrics?'.... If he wanted to load up his private plane and fly off to the Caribbean  with our money, why not just close the site and move on.  Really I believe this whole horse and pony show is so he/they can try to make up what was lost.