zoonosis
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June 20, 2014, 09:38:57 AM |
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It is good to see the payments continuing.
indeed, unfortunally haven't seen any Neither have I
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dyask
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June 20, 2014, 11:03:34 AM |
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It is good to see the payments continuing.
indeed, unfortunally haven't seen any Neither have I I felt the same way before I was paid. I sent my PM/email early on the 29th of May. Hopefully he will have some huge gains and play off more people soon. You guys had a lot more in there than me so that probably makes things harder too.
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lefebret
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June 20, 2014, 01:09:19 PM |
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Judging from the above list - This would mean that all others would be waiting 1+years for a payment. based on previous payouts, it will take him a while to pay Freejack Alone - Let alone the others. I am for the First Come / First Serve BUT we should try to get an initial payment out to everyone first - before second payouts.
IE: Start on the list with First Come First Serve - and send out an initial .25BTC until entire list is fulfilled. Then start at the top again and pay an additional .25 BTC going down using First Come First Serve. (Would need to take a snapshot of the list - and anyone who adds after this point would need to wait until 2nd round)
I think this option is the most fair one. I second this. The payments in rounds is a great idea. Very fair.
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dyask
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June 20, 2014, 01:24:22 PM |
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Judging from the above list - This would mean that all others would be waiting 1+years for a payment. based on previous payouts, it will take him a while to pay Freejack Alone - Let alone the others. I am for the First Come / First Serve BUT we should try to get an initial payment out to everyone first - before second payouts.
IE: Start on the list with First Come First Serve - and send out an initial .25BTC until entire list is fulfilled. Then start at the top again and pay an additional .25 BTC going down using First Come First Serve. (Would need to take a snapshot of the list - and anyone who adds after this point would need to wait until 2nd round)
I think this option is the most fair one. I second this. The payments in rounds is a great idea. Very fair. There is currently 133 users in the spreadsheet that need to be refunded. If the rounds were only .05 BTC, the first round would still take 6.65 BTC or likely two weeks to get through. The second round slightly less BTC. At .25 BTC it would take about 30 BTC to get the list, which is double the amount refunded today. So it would probably take months per round at the rate things have been going. Somehow I think there would still be a lot of unhappy people.
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deathdefyer2002
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June 20, 2014, 04:15:57 PM |
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OK.. then .05 a round... each round should get smaller and smaller as lower investors get paid back in full. I'd rather see .05 every 2 weeks, then wait 1+years to see 3.2 coins!
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CoinMintersClub
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June 20, 2014, 04:25:41 PM |
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shock
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June 20, 2014, 04:27:25 PM |
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I am actually glad to see he is still working on this. I think he has some charactor to him that I am personally glad to see. Im going to go back to reading and not posting now.
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deathdefyer2002
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June 20, 2014, 05:15:39 PM |
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Ohh let me jump right on this and loose some more coins... YAY.. Why do these people even post here???
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lesnod11
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June 21, 2014, 12:06:03 AM |
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Ohh let me jump right on this and loose some more coins... YAY.. Why do these people even post here??? LOL
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dyask
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June 21, 2014, 01:54:57 AM Last edit: June 21, 2014, 02:07:46 AM by dyask |
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Pumping and dumping is a scam, meant to steal money from people. Trying to take advantage of a bad situation is low and dishonest. At this point I have little doubt you are also lying, scammers always claim they are being honest. From your FAQ: " Do you have other source of Bitcoin income ? We run 396 Terahash mining farm, powered with our own 250 kW mini hydropower station. So, electricity for mining is practically FREE. We mine most profitable altcoins." Really? 396 Ths for altcoins? Probably you meant bitcoin and 396 THs would likely cost over $1 Million US. Then you are nickel and diming for .05 BTC to .5 BTC accounts. TOTAL SCAM.
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lesnod11
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June 21, 2014, 05:15:20 PM |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
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gise87
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June 21, 2014, 06:47:25 PM |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
He claims that the hackers changed the deposit address on the website so people transferred directly to the hackers instead of Btc-arbs addresses, furthermore he claims that some user accounts were compromised and they requested a withdrawal to their addresses.
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Titan33
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June 21, 2014, 07:08:05 PM |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
He claims that the hackers changed the deposit address on the website so people transferred directly to the hackers instead of Btc-arbs addresses, furthermore he claims that some user accounts were compromised and they requested a withdrawal to their addresses. If I remember correctly, when depositing to the Btc-Arbs website, you had to go back to the website after making the transfer from your wallet and click a button that essentially confirmed that the transfer was initiated. So then if the change in deposit address claim is true, he should have realized very quickly that people were confirming that transfers were being created but no actually BTC was coming in. Also, the requested withdrawal issue should've been discovered very quickly as well since if they withdrawal were paid out to whoever "hacked" the website, the balance shown in the account would've changed and the individual whose account it really was would notice that pretty quickly and no doubt reach out to the admin to find out what is going on. In either scenario, I think the issue, if true, would've been discovered/pointed out very quickly greatly limiting the damage in terms of lost BTC compared to what the situation seems to currently be. Others have also questioned the claims on here and I also agree that it just does not seems to line up so my only conclusion is that he might have more BTC than he is letting on, trying to make people whole from the arbitrage profit while keeping the principal amount at the end, which is pretty sizable according to the spreadsheet. And clearly had no desire to return the BTC prior to his identity being 'discovered'. I wonder if criticism on this forum is another one of the criteria that pushes you to the back of the payout list.....
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lesnod11
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June 21, 2014, 07:21:17 PM |
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One thing I don't completely understand about the web site hacking is: Even if the web site is hacked, it's just a visual representation of what profits are being made. Most if not all the money would have to be in exchanges. I don't recall reading or hearing about multiple exchanges being hacked. I could be naive in how the whole process worked, but it just seems like in order to do arbitrage you would need multiple accounts in multiple exchanges and money in all of them, not sitting on a web sever.
He claims that the hackers changed the deposit address on the website so people transferred directly to the hackers instead of Btc-arbs addresses, furthermore he claims that some user accounts were compromised and they requested a withdrawal to their addresses. If I remember correctly, when depositing to the Btc-Arbs website, you had to go back to the website after making the transfer from your wallet and click a button that essentially confirmed that the transfer was initiated. So then if the change in deposit address claim is true, he should have realized very quickly that people were confirming that transfers were being created but no actually BTC was coming in. Also, the requested withdrawal issue should've been discovered very quickly as well since if they withdrawal were paid out to whoever "hacked" the website, the balance shown in the account would've changed and the individual whose account it really was would notice that pretty quickly and no doubt reach out to the admin to find out what is going on. In either scenario, I think the issue, if true, would've been discovered/pointed out very quickly greatly limiting the damage in terms of lost BTC compared to what the situation seems to currently be. Others have also questioned the claims on here and I also agree that it just does not seems to line up so my only conclusion is that he might have more BTC than he is letting on, trying to make people whole from the arbitrage profit while keeping the principal amount at the end, which is pretty sizable according to the spreadsheet. And clearly had no desire to return the BTC prior to his identity being 'discovered'. I wonder if criticism on this forum is another one of the criteria that pushes you to the back of the payout list..... hmmmmmmm not sure any of this is criticism, just general questions. I have had 2 small payments so I'm generally happy he is working on it, and I freely admit I could be naive to the process he was using. But questions do abound.....
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brianbbad
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June 21, 2014, 09:17:04 PM |
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Regarding the site getting hacked: has btc-arbs admin filed a police report detailing the unlawful access and stolen property?
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Mego
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June 22, 2014, 12:29:06 AM |
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Ok just sent an email to bTC arbs with my wallet address , are they returning investments? what do I need to do to be on the list
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PanicBot
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June 22, 2014, 01:42:01 AM |
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It seems like the proper thing to do would be to pay everyone back equally. No queue. I guess I can sort of understand if that isn't how it's going. Hope I eventually get my .6 BTC back
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BTC-Arbs
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June 22, 2014, 03:19:09 AM |
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I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.
It is also clear that some users do not understand the refund process. The refund amount is not the total amount including earnings. It is the total amount originally deposited minus any withdrawals.
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PanicBot
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June 22, 2014, 03:30:14 AM |
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That makes sense.
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s1m0n
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June 22, 2014, 10:26:37 AM |
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I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.
looking forward to some more details
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