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

[yonce]

More refunds paid. Another 1 coin sent to freejack. Not all refunds that were paid are from members who actively post here. Many are from emails.

Good for freejack but once again, how come if he isn't paying someone off in full does he give some a little bit of coin and the rest of us nothing?

When did you request it? I have no idea how he is determining it except that I assume he is trying to pay people off completely whenever he has the funds (depending on how he did that day, assuming you believe he is arbitrage trading and I still tend to believe he is) and narrow down the number of people left. I would probably do it that way if I were doing it, rather than giving everyone a tiny cut of the total.

I'm sure over time, he will get it sorted out...nobody is going to let him off the hook and it seems like he knows that, or he wouldn't be here doing this. Let's see how it goes over the coming weeks. From my point of view, he is currently using my money (and that of the other "whales") to do his earning and pay people back...which is okay, as long as people ARE paid back and I am not made to wait an unreasonable amount of time to be repaid. As I said before, he committed to 20-40 days with me and that is what I expect to see. He will get through these repayments, I'm sure this is not a noose he wants hanging around his neck.

What I'm interested in is: In the end, when he has enough BTC earned to cover all the expenses, will he pay all users off in one final batch, OR: is he going to pay us his everyday's arb profit until he paid everyone off, leaving him with the 500BTC?

I think it's best and quickest if he does the following:
If he has 500BTC now, there are (for instance) 100 stolen, he keeps up the arb business to close the 100BTC gap and pay everything to everybody.

There is no stolen BTC. It is a lie. The btc-arbs admin is a HYIP admin, the excuses are ages old.

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[sukamasoto]

if you've been trying to contact her moderator

[yonce]

I have no problem with Yonce, he has given us quite a lot of good insight into this HYIP culture.

Turns out the yonce might have a lot of insight into HYIP admins because the claim is that he is the admin for FinMutual.  

https://bitcointalk.org/index.php?topic=626622.0

Even if he is something less than that, he has been linked to an old alias dominicwin by Tomatocage a hero member with high trust.   It is interesting that the trust flames by dominicwin & yonce do follow the same patterns of flaming people that don't agree with him.  

Even if none of that is true, a lot of information has come out in this thread with yonce's multi-week sparring with crazyivan.  
https://bitcointalk.org/index.php?topic=527395.400

The one thing that can be sure is that yonce is pushing an agenda that is probably only good for yonce.   While it is toned down from when he first appeared with the yonce alias, he spurts out some real nasty comments from time to time, including:

I need to start a bitcoin arbitrage trading story based HYIP. Suckers everywhere STILL...

https://bitcointalk.org/index.php?topic=474787.msg6810852#msg6810852

Man.... this again??? While younce is a total waste, because it's clear he has nothing better to do than wander around pounding his chest and making this thread his 'I told ya so' trophy (I'm going off old info since I have him ignored and what little I read from him seems much less antagonizing) - your constant barrage on him that just comes out of left field does nothing to better the situation and in fact is getting old. Just put him on ignore and let him throw out blocked messages. Either that, or take it offline with him and you two can hammer out your differences and that lets this thread stay on subject!

Amen (to most lol), though I could care less about butt hurt dyask and hammering out "my differences with him". Just like admins will come to this forum and do anything they can to discredit me, so will annoyed people who attacked me when I called out btc-arbs and the site scammed shortly after. btc-arbs was nothing more than a quick cash grab.

[btclemming]

PM and mail sent.

here is my content

I deposited 35 BTC and received back 4,3951 BTC BEFORE shutdown. Nothing received yet afterwards.
My account was at 49 BTC when shutting down.

My address : blablabla...

04/03/2014 17:15             Bitcoin deposit for 20.0000 bitcoins completed [Ref: bitcoin_GGM1ahuw]
04/03/2014 07:44             Account updated
04/03/2014 07:40             Bitcoin deposit for 15.0000 bitcoins completed [Ref: bitcoin_ElRnvMcf]
04/03/2014 07:35             Account created

[FreeJack2k2]

PM and mail sent.

here is my content

I deposited 35 BTC and received back 4,3951 BTC BEFORE shutdown. Nothing received yet afterwards.
My account was at 49 BTC when shutting down.

My address : blablabla...

04/03/2014 17:15             Bitcoin deposit for 20.0000 bitcoins completed [Ref: bitcoin_GGM1ahuw]
04/03/2014 07:44             Account updated
04/03/2014 07:40             Bitcoin deposit for 15.0000 bitcoins completed [Ref: bitcoin_ElRnvMcf]
04/03/2014 07:35             Account created

Damn...finally, someone who had more invested than I did. Welcome to the club :/

Go open up this Google Docs spreadsheet we're maintaining and input your username, the amount of principal you're currently owed (looks like 30.6) and we can keep track of it that way.

https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10/edit#gid=1324696940

[lesnod11]

Did anyone on this board get refunded today? Or even get any money for that matter?

[FreeJack2k2]

Not today. Thus far I've received payments on the 31st, 2nd and 5th. A very slow pace (too slow for him to meet the deadline he agreed to with me, right now) and not seeing a lot of other people on the list being satisfied, either. The pace really needs to pick up, soon.

[graylend]

I agree that the pace needs to pick up.  I am not the largest at 9 BTC invested... but I am close to the top and haven't received ANYTHING!!!  This is getting frustrating to say the least!!!

A little more communications from BTC-Arbs would be appreciated.

[BTC-Arbs]

There seems to be a misunderstanding with how the refunds are working. I have a portion of the Bitcoins. The rest was stolen. I am now using the remaining bitcoins to earn additional coins and then repay everyone their full investment.

If I could pay everyone in full right now I would. I cannot.
If I was a scammer I would not be here. I'm not.

Complaining about it won't speed it up. Sending me messages like this nice one that was received right now "I rape you and your entire family unless give coins back now" also does not help.

More payments will be sent soon.

[NullOp]

I made a few updates to the spreadsheet.

I indicated the 'user' column is for the bitcoin talk username with btc-arbs username in brackets. People appear to have been using either. Please include your bitcointalk username at minimum so we can communicate as needed.
I indicated that the amount owed should subtract any withdrawals you were successfully able to make from btc-arbs.com

https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10/edit?pli=1#gid=1324696940

[FreeJack2k2]

There seems to be a misunderstanding with how the refunds are working. I have a portion of the Bitcoins. The rest was stolen. I am now using the remaining bitcoins to earn additional coins and then repay everyone their full investment.

If I could pay everyone in full right now I would. I cannot.
If I was a scammer I would not be here. I'm not.

Complaining about it won't speed it up. Sending me messages like this nice one that was received right now "I rape you and your entire family unless give coins back now" also does not help.

More payments will be sent soon.

Yes, the threats of violence and stupid crap like that need to stop. There will be legal recourse available at some point if he doesn't follow through with the refunds, but he appears to be working on it. The alternative is a lengthy class action which would likely require at least a year. I'm willing to do that, if it comes to it...but I would prefer to simply be repaid my principal and call it a lesson learned.

People are angry, as am I, but let's conduct ourselves civilly and let him go about the process of making restitution.

[uross]

Is the mail btcarbsrefunds@safe-mail.net working my friend write to this email for refounds, but there was no replay?!

[dyask]

Is the mail btcarbsrefunds@safe-mail.net working my friend write to this email for refounds, but there was no replay?!

I don't think very many people have gotten replies.

[christophorus]

I didn't get a reply to my PM but I did get a refund.

Here's what I sent in my PM:

Hi,

My username is Christophorus on both BTC-arbs and here.

I deposited 0.193 after taking account of withdrawals etc. Please find info below for this.

09/03/2014 0.0500000 [Ref: xxxxx] Deposit
12/03/2014 0.0768565 [Ref: xxxxx] Deposit
13/03/2014 0.1268565 [Ref: xxxxx] Withdrawal
22/03/2014 0.1000000 [Ref: xxxxx] Deposit
27/03/2014 0.0070000 [Ref: xxxxx] Withdrawal
03/04/2014 0.1000000 [Ref: xxxxx] Deposit

I'm happy to round it down to 0.19

My BTC address is <insert bitcoin address>

I'll happily update the thread with info that my refund is received as soon as it happens.

Thanks,

Chris

[alani123]

Took a look at the doc after a while. Why do we have 2 columns for the same thing? The "AMOUNT" one states the same as the "AMOUNT OWNED". Should I remove the second one?

[worldlybedouin]

There seems to be a misunderstanding with how the refunds are working. I have a portion of the Bitcoins. The rest was stolen. I am now using the remaining bitcoins to earn additional coins and then repay everyone their full investment.

If I could pay everyone in full right now I would. I cannot.
If I was a scammer I would not be here. I'm not.

Complaining about it won't speed it up. Sending me messages like this nice one that was received right now "I rape you and your entire family unless give coins back now" also does not help.

More payments will be sent soon.

Yes, the threats of violence and stupid crap like that need to stop. There will be legal recourse available at some point if he doesn't follow through with the refunds, but he appears to be working on it. The alternative is a lengthy class action which would likely require at least a year. I'm willing to do that, if it comes to it...but I would prefer to simply be repaid my principal and call it a lesson learned.

People are angry, as am I, but let's conduct ourselves civilly and let him go about the process of making restitution.

+1

I would agree with this approach...technically doing bodily harm to him/her or their family/friends isn't going to do anyone any good, and could eventually weaken any legal actions we as a group choose to take against him/her. 

All we can do now is continue to be patient, and give him/her the benefit of the doubt that we'll be refunded what we're owed.  As FreeJack2k2 clearly stated we can go the legal route if needed.

[Harderfaster]

They returned the 0.1btc that I had invested.

[lesnod11]

They returned the 0.1btc that I had invested.

When was it returned? Just today? And when it was returned did you get any sort of e-mail or PM about it being the returned amount?

[deathdefyer2002]

I'm sure a lot of people would be put at ease if their was some kind of plan.  It seems as if the paybacks are completely random.

What we know

1) He has some amount of coins he is using for ARB trading
2) We can assume from past performance ~1% is a fair assumption for daily earnings.

This shouldn't be difficult math. 

If the process was more transparent, I'm confident more people would have faith in the system put in place for payback.  Right now no one knows what is happening and everyone is just blindly hoping for a payback.

I really feel the daily earnings/amount being used be posted.  It is OUR money that is being used for ARB so its only fair we understand the process.  We should also have a sheet of "Confirmed Pending Payments" So we know he received the info and has done his research to confirm that it is valid.  And an Estimated schedule that is being followed for payback.  20-40 days doesn't tell us much, and at current rates, this doesn't seem reasonable.

[lesnod11]

I'm sure a lot of people would be put at ease if their was some kind of plan.  It seems as if the paybacks are completely random.

What we know

1) He has some amount of coins he is using for ARB trading
2) We can assume from past performance ~1% is a fair assumption for daily earnings.

This shouldn't be difficult math. 

If the process was more transparent, I'm confident more people would have faith in the system put in place for payback.  Right now no one knows what is happening and everyone is just blindly hoping for a payback.

I really feel the daily earnings/amount being used be posted.  It is OUR money that is being used for ARB so its only fair we understand the process.  We should also have a sheet of "Confirmed Pending Payments" So we know he received the info and has done his research to confirm that it is valid.  And an Estimated schedule that is being followed for payback.  20-40 days doesn't tell us much, and at current rates, this doesn't seem reasonable.

Agreed! I have never gotten a strait answer why there are small amounts sent to some and not to others. Is he paying things back alphabetically by username? or is it those who have threatened him the most? The people that have been paid back completely seem to be small amounts which makes a little more sense, but the people that have gotten small percentage payouts of ones balance doesn't make sense, it would make more sense if those were split up into the group evenly, even if it is a fraction. And if it's not split up, some information as to why would help calm the waters.