BTC-Arbs
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Activity: 101
Merit: 10
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August 04, 2014, 05:05:36 AM |
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It has been a while since my last payment...... not trying to jump ahead of those that haven't received anything yet, just keeping my name in the mix. Hoping for something again soon.
I haven't forgot about you or anyone else.
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wanna4fun
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Activity: 119
Merit: 100
noobie
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August 04, 2014, 07:54:46 AM |
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It has been a while since my last payment...... not trying to jump ahead of those that haven't received anything yet, just keeping my name in the mix. Hoping for something again soon.
I haven't forgot about you or anyone else. indeed took some time but he finally replied my PM. maybe it will took some time but I'll get back ALL of my BTC
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wanna4fun
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noobie
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August 04, 2014, 10:02:04 AM |
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surprise i'm not in the sheet... 1.05 BTC to refund to me all in the PM I sent you long time ago...
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gise87
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August 04, 2014, 10:38:31 AM |
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surprise i'm not in the sheet... 1.05 BTC to refund to me all in the PM I sent you long time ago... This sheet is created and maintained by ourselves, not by the BTC-Arbs admin. Please add your own name and details.
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elend
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August 04, 2014, 12:02:35 PM |
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It has been a while since my last payment...... not trying to jump ahead of those that haven't received anything yet, just keeping my name in the mix. Hoping for something again soon.
I haven't forgot about you or anyone else. Happy to hear this ....
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spectrem1
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August 04, 2014, 12:41:33 PM |
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Thank you BTC-Arbs for my payment. Good luck with your arb-ing as we are all rooting for your success. -M
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Chance favors the prepared mind -Louis Pasteur
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nnkaceryan
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August 04, 2014, 01:02:23 PM |
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I received a PM from BTC-Arbs last night or yesterday afternoon giving me a time frame for first payment. I have posted a few times about lack of communication so I figured it was only right to post that he did in fact respond to me. For those that haven't heard back yet I first contacted him at the end of May so it may take awhile but he does respond.
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chris45215
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August 04, 2014, 09:36:28 PM |
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Here's hoping the volatility picks up. A lot.
Im not counting on it. Both the spread and volatility have decreased dramatically. There are new players in arbitrage now; with lots of coins and good software. Dont expect them to make any announcements, they wont seek any new investors, and they have no desire to be publicly known. Additionally, the regulations proposed in New York will shut down all legitimate Bitcoin-based investments (they effectively say that the company cant hold any bitcoin except the exact amount given by customers, and therefore anyone doing arbitrage wont be able to legally buy or sell if they have any New York customers). This is a very big threat to both the BTC investing community and the Bitcoin community as a whole, as investment money was expected to increase the value of bitcoin and help improve liquidity worldwide. I dont envy Btc-Arbs. He/they have my respect for refunding customers, coming out with honest info, and staying in touch with the community. The days of easy profit are pretty near an end. Personally, Im considering if it's worth my time to make the next set of upgrades on my system. I can still make more than $2 per btc per day, but only on low volume - it would bring less income than my day job. On a final note for everyone, don't put any money into any HYIP at all. The profits dont exist anymore, and any program accepting any US customers will invariably have a NY resident or two and the entire program will be illegal - customers wont be subject to any legal repercussions, but the operator will be and may have all their assets confiscated. If you want to invest in Bitcoin or invest with Bitcoin, the best way is to get off the internet and start pushing it in real life. See how your professional skills can be used in the Bitcoin economy.
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chris45215
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August 04, 2014, 09:55:02 PM |
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Btc-Arbs, if you are able to, please consider registering as a company ASAP - even if it's a shell company based on an island no one's ever visited, with Elvis named as the owner.
This will help you send statements to your investors to show some form of proof of losses. They can use this on their taxes to offset profit from Bitcoin or other investments (assuming they report Bitcoin on their taxes).
The process of doing this may be more work than you want to face, but it could be valuable for your customers, and negate a big portion of their losses. It will be much easier to do this before New York's regulations take effect.
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lesnod11
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August 05, 2014, 01:14:45 AM |
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Here's hoping the volatility picks up. A lot.
Im not counting on it. Both the spread and volatility have decreased dramatically. There are new players in arbitrage now; with lots of coins and good software. Dont expect them to make any announcements, they wont seek any new investors, and they have no desire to be publicly known. Additionally, the regulations proposed in New York will shut down all legitimate Bitcoin-based investments (they effectively say that the company cant hold any bitcoin except the exact amount given by customers, and therefore anyone doing arbitrage wont be able to legally buy or sell if they have any New York customers). This is a very big threat to both the BTC investing community and the Bitcoin community as a whole, as investment money was expected to increase the value of bitcoin and help improve liquidity worldwide. I dont envy Btc-Arbs. He/they have my respect for refunding customers, coming out with honest info, and staying in touch with the community. The days of easy profit are pretty near an end. Personally, Im considering if it's worth my time to make the next set of upgrades on my system. I can still make more than $2 per btc per day, but only on low volume - it would bring less income than my day job. On a final note for everyone, don't put any money into any HYIP at all. The profits dont exist anymore, and any program accepting any US customers will invariably have a NY resident or two and the entire program will be illegal - customers wont be subject to any legal repercussions, but the operator will be and may have all their assets confiscated. If you want to invest in Bitcoin or invest with Bitcoin, the best way is to get off the internet and start pushing it in real life. See how your professional skills can be used in the Bitcoin economy. No, this law does not stop a person from doing arbitrage, much less customers in NY from working with sites outside of NY. The law is an attempt to license dealers. Basically Dealers would undergo background checks and would have to show that business would be conducted "honestly, fairly, equitably, carefully, and efficiently." Strait out of the liberal book of idiots yelling "more government please"! However; no place does it say a person that invest money with someone/business in another state, country, or planet that is unlicensed would make the later someone/business illegal.
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chris45215
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August 05, 2014, 01:59:50 AM |
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No, this law does not stop a person from doing arbitrage, much less customers in NY from working with sites outside of NY. The law is an attempt to license dealers. Basically Dealers would undergo background checks and would have to show that business would be conducted "honestly, fairly, equitably, carefully, and efficiently." Strait out of the liberal book of idiots yelling "more government please"! However; no place does it say a person that invest money with someone/business in another state, country, or planet that is unlicensed would make the later someone/business illegal.
Lesnod11, I don't know where you are getting your information but I can quote the proposed regulations. Bitcoin is my weekend/evening job; it's my business to know these things at a professional level. I don't intend to sound rude or condescending, but this literally is my 2nd job. An entity can still do arbitrage on their own behalf - using their own money - but they follow a different set of rules when using someone else's money. Part 200.2(n) says that a "Virtual Currency Business Activity means the conduct of any one of the following types of activities involving New York or a New York Resident: ... [part 2] securing, storing, holding, or maintaining custody or control of Virtual Currency on behalf of others." Then, 200.3 (a) states "No Person shall, without a license obtained from the superintendent as provided in this Part, engage in any Virtual Currency Business Activity." So, any entity/person holding or controlling Bitcoin for a New York resident MUST have a license. Out of the hundreds of customers Btc-Arbs had, they almost certainly have at least a few New York residents. Btc-Arbs would also fall under the definition of the regulation in other sections as well. The full text is at http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdfIn order to avoid just that quoted section, btc-arbs would need to fully refund all New York residents before the regulation goes into effect. And even then, any of those residents could say that the claimed profits are still owed to them.
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lesnod11
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August 05, 2014, 02:54:59 AM Last edit: August 05, 2014, 03:07:18 AM by lesnod11 |
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No, this law does not stop a person from doing arbitrage, much less customers in NY from working with sites outside of NY. The law is an attempt to license dealers. Basically Dealers would undergo background checks and would have to show that business would be conducted "honestly, fairly, equitably, carefully, and efficiently." Strait out of the liberal book of idiots yelling "more government please"! However; no place does it say a person that invest money with someone/business in another state, country, or planet that is unlicensed would make the later someone/business illegal.
Lesnod11, I don't know where you are getting your information but I can quote the proposed regulations. Bitcoin is my weekend/evening job; it's my business to know these things at a professional level. I don't intend to sound rude or condescending, but this literally is my 2nd job. An entity can still do arbitrage on their own behalf - using their own money - but they follow a different set of rules when using someone else's money. Part 200.2(n) says that a "Virtual Currency Business Activity means the conduct of any one of the following types of activities involving New York or a New York Resident: ... [part 2] securing, storing, holding, or maintaining custody or control of Virtual Currency on behalf of others." Then, 200.3 (a) states "No Person shall, without a license obtained from the superintendent as provided in this Part, engage in any Virtual Currency Business Activity." So, any entity/person holding or controlling Bitcoin for a New York resident MUST have a license. Out of the hundreds of customers Btc-Arbs had, they almost certainly have at least a few New York residents. Btc-Arbs would also fall under the definition of the regulation in other sections as well. The full text is at http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdfIn order to avoid just that quoted section, btc-arbs would need to fully refund all New York residents before the regulation goes into effect. And even then, any of those residents could say that the claimed profits are still owed to them. LOL - and of those of us who are not actively involved in btc mining, trading, arbitrage and otherwise don't have it as a second job? Don't get me wrong, but it's very condescending, not to mention naive to think the rest of us are not on the same page and work just as hard to both better the community and make money from it. Once again, nowhere does it say a person can't invest in another persons business that is located elsewhere, even what you quote doesn't state that....... The point to this was to somehow implement laws to stop things like gox, however; if a person has money or traded on gox and they lived in NY the state can do nothing to stop them.
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lesnod11
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August 05, 2014, 03:09:57 AM Last edit: August 05, 2014, 06:33:31 AM by lesnod11 |
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This is a whole bunch of shit
You're right, I use to get pissed at Yonce for changing the subject and now I'm entertaining the same kind of crap. I'm calling off the hounds..... sorry for the rant.
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joef
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August 05, 2014, 01:19:48 PM |
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The US vituperates a bit, just for testing. They are checking out for ways to keep the Bitcoin small. If the Bitcoin will grow to much, I guess they will be more aggressiv. Bitcoin is made by enthusiasts. There is no real force wich may save the Bitcoin. The US will never accept another currency large enough to be as stromg as the US Dollar. Maybe some of you have noticed, the war in Iraq and Syria started shortly after the decision to sell Oil for Euros only.
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waterpile
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August 05, 2014, 01:53:51 PM |
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this is like MT.Gox story many got burnt again
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Gentso1
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August 05, 2014, 06:51:17 PM |
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Btc- arbs just messaged me the other day and I asking for some info so he appears to still be keeping up the good fight. I am owned 1 btc
I provided the info he asked for and I will update the thread again when any refund has been made, thanks you.
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BTC-Arbs
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August 06, 2014, 06:11:52 AM |
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More refunds being sent in 5 minutes.
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tom14cat14
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August 06, 2014, 06:17:53 AM |
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More refunds being sent in 5 minutes.
Fingers crossed
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miahugo
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August 06, 2014, 09:57:53 AM |
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Sorry it is late to reply this thread, as was busy in real life.
I have recieved my first refund of 0.1 BTC on 21 Jul, although it is not much of my 3.5BTC capitial. But it still a great move. Keep going, thx admin.
My BTC-arbs login is miahugo.
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