chilly2k
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December 05, 2014, 11:52:09 PM |
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I suppose it could be easier to aggregate the week's profits and do it once a week or something, but it'd be nice if BTC-Arbs would clarify how he's doing things, so people would have some reasonable expectation of when things would happen. Make it a round every Friday or whatever.
That's an excellent suggestion. It seemed like it was every 3-4 days, and now it just feels longer. No time to check his updates. But knowing he was doing something every week, would make it easier on everyone. Even better would be to assign a number to each account, PM the person their number and post that he's pay numbers x-y of z this week. Gives everyone an idea where they are on the list and when to expect payments. No promises, but at least you can come close to figuring when to expect something.
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starfishi
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December 06, 2014, 02:45:47 AM Last edit: December 06, 2014, 03:42:20 AM by starfishi |
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I suppose it could be easier to aggregate the week's profits and do it once a week or something, but it'd be nice if BTC-Arbs would clarify how he's doing things, so people would have some reasonable expectation of when things would happen. Make it a round every Friday or whatever.
Sorry, guys, a question, where from do you get the idea, that he´s generating profits from anywhere, let alone from arbitrageing. ( i could have missed that in this drawn out thread, point me to his post regarding this, please) Couldn´t it be, that he´s just stretching the leftovers of our money with micropayments as small and looong as possible, counting on us dying of old age before it runs out ? (Ponzi, anyone ?) I guess he´s happy, that we are easily satisfied with bread crumbets, once a while. The reason, he´s still here, is not because he´s a generous human, but because people came to close to his identity (see posts waay back in this thread somewhere). So, i think he´s laughing his ass off, over our patience, and doesnt have to bother to give any clarification about the real situation, any plan, or commitment. Its just: "more micropayments coming soon" , and then we: "thank you, thank you, thank you . . ." Frustrating. BTC-Arbs, what is your plan, any plan ? Talk to us, please ! (you know, business-plan, and cumbersome stuff like that)
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chilly2k
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December 06, 2014, 04:30:02 AM |
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I suppose it could be easier to aggregate the week's profits and do it once a week or something, but it'd be nice if BTC-Arbs would clarify how he's doing things, so people would have some reasonable expectation of when things would happen. Make it a round every Friday or whatever.
Sorry, guys, a question, where from do you get the idea, that he´s generating profits from anywhere, let alone from arbitrageing. ( i could have missed that in this drawn out thread, point me to his post regarding this, please) Couldn´t it be, that he´s just stretching the leftovers of our money with micropayments as small and looong as possible, counting on us dying of old age before it runs out ? (Ponzi, anyone ?) I guess he´s happy, that we are easily satisfied with bread crumbets, once a while. The reason, he´s still here, is not because he´s a generous human, but because people came to close to his identity (see posts waay back in this thread somewhere). So, i think he´s laughing his ass off, over our patience, and doesnt have to bother to give any clarification about the real situation, any plan, or commitment. Its just: "more micropayments coming soon" , and then we: "thank you, thank you, thank you . . ." Frustrating. BTC-Arbs, what is your plan, any plan ? Talk to us, please ! (you know, business-plan, and cumbersome stuff like that) The Whole Story - From BTC-Arbs ADMINI am aware that this post may fall upon deaf ears, given the mob mentality that seems to have developed as a fallout from BTC-Arbs, however I am here with the ultimate goal of resolving the issues that currently face everyone involved. Before I get into my future plans I feel it is necessary to share a bit of background information on BTC-Arbs. Scam AllegationsBTC Arbs was not created to be a scam, and was never intended to rip off investors. Bitcoin arbitrage is possible and many Bitcoin users have realized this and have started arbitrage trading on their own. Bitcoin arbitrage trading took place and earnings were made. Anyone who has ever looked at bitcoinaverage dot com can confirm this. The prices vary greatly from exchange to exchange, and there are always variations on the price. Even today, you can buy Bitcoin on BTCE for $556 and then sell it immediately on Bitstamp for $572. That produces a 2.7% profit, which is closer to 2% after exchange fees and transfer costs. BTC-Arbs was not created to scam users. HackingIn early April, the BTC Arbs website was hacked. Numerous members can corroborate this fact. Many accounts were accessed and large amounts of Bitcoin were withdrawn. When this first started occurring, we were under the impression that it was due to users who had failed to secure their accounts with 2-factor authentication and who had been infected with a virus. It then became apparent that the website was not secure and the issue was impacting hundreds of accounts. HUNDREDS of Bitcoins were paid out that should not have been. To make matters worse, our incoming Bitcoin addresses were changed and hackers stole all of the incoming coins. When we tried to fix the issue, we just kept getting hacked over and over. Finally the problem was solved, but it was too late. After the hacking, the plan was to use profits to re-liquidate the program, however people continued to withdraw, which ultimately lead to the overall failure and "reset". This can be referred to as a run on the bank. 100,000 Bitcoin AddressThose who believe that the 100,000 Bitcoin address belongs to BTC-Arbs are crazy. The total value of ALL BTC-Arbs accounts is more or less 500 Bitcoins. We weren't some billion dollar scam. The average user had less than 1 Bitcoin in their account. There are only 7 users with balances over 20 Bitcoins. There were less than 1000 accounts with Bitcoins in them. Re-IncarnationUpon resetting the program, the plan was to pay back all users using future profits. The plan was going well and members of Bitcoin Talk can attest that withdrawals were being paid and that many users had begun receiving a good portion of their investments back. The plan was going well until angry users decided to: - Hack the website further - Initiate a prolonged DDOS attack against the server - File a trademark complaint for the domain (WTF???) - Freeze fiat accounts (preventing refunds) ApologyI am VERY VERY VERY SORRY that the outcome of BTC-Arbs was what it was. I had dreams of running the first large and legitimate Bitcoin Arbitrage investment company that could have one day competed with banks and other global investment institutions. Instead, my dreams were destroyed and I now receive threats on a daily basis. Moving ForwardI have created a plan to help us move forward. I would appreciate everyone's help in fulfilling it. If you have any suggestions on how to improve my plan please tell me. The Plan1 - I have some Bitcoins left and I am still doing arbitrage with them. 2 - I want nothing more than to repay everyone. This won't be instant, but I want to do my best. 3 - I will continue paying refunds to everyone who lost money. In the interest of fairness, I think it is reasonable that until everyone is repaid their initial investments, that everyone only request the amount that was lost, not including profits. 4 - Please send your username, amount lost, Bitcoin address, username here (optional), details of your deposits, and any other information you can think of to btcarbsrefunds@safe-mail.net or by PM here. 5 - I will be using this thread to keep track of everything that I do, including refunds. BTC Arbs is NOT a scam. It was a failed investment that is now trying to make good on past promises. This was his first post. You can go to his profile, and look through all of the messages he's posted to get all of the gory details.
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starfishi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2014, 05:29:27 AM Last edit: December 06, 2014, 08:25:56 AM by starfishi |
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I suppose it could be easier to aggregate the week's profits and do it once a week or something, but it'd be nice if BTC-Arbs would clarify how he's doing things, so people would have some reasonable expectation of when things would happen. Make it a round every Friday or whatever.
Sorry, guys, a question, where from do you get the idea, that he´s generating profits from anywhere, let alone from arbitrageing. ( i could have missed that in this drawn out thread, point me to his post regarding this, please) Couldn´t it be, that he´s just stretching the leftovers of our money with micropayments as small and looong as possible, counting on us dying of old age before it runs out ? (Ponzi, anyone ?) I guess he´s happy, that we are easily satisfied with bread crumbets, once a while. The reason, he´s still here, is not because he´s a generous human, but because people came to close to his identity (see posts waay back in this thread somewhere). So, i think he´s laughing his ass off, over our patience, and doesnt have to bother to give any clarification about the real situation, any plan, or commitment. Its just: "more micropayments coming soon" , and then we: "thank you, thank you, thank you . . ." Frustrating. BTC-Arbs, what is your plan, any plan ? Talk to us, please ! (you know, business-plan, and cumbersome stuff like that) The Whole Story - From BTC-Arbs ADMINI am aware that this post may fall upon deaf ears, given the mob mentality that seems to have developed as a fallout from BTC-Arbs, however I am here with the ultimate goal of resolving the issues that currently face everyone involved. Before I get into my future plans I feel it is necessary to share a bit of background information on BTC-Arbs. Scam AllegationsBTC Arbs was not created to be a scam, and was never intended to rip off investors. Bitcoin arbitrage is possible and many Bitcoin users have realized this and have started arbitrage trading on their own. Bitcoin arbitrage trading took place and earnings were made. Anyone who has ever looked at bitcoinaverage dot com can confirm this. The prices vary greatly from exchange to exchange, and there are always variations on the price. Even today, you can buy Bitcoin on BTCE for $556 and then sell it immediately on Bitstamp for $572. That produces a 2.7% profit, which is closer to 2% after exchange fees and transfer costs. BTC-Arbs was not created to scam users. HackingIn early April, the BTC Arbs website was hacked. Numerous members can corroborate this fact. Many accounts were accessed and large amounts of Bitcoin were withdrawn. When this first started occurring, we were under the impression that it was due to users who had failed to secure their accounts with 2-factor authentication and who had been infected with a virus. It then became apparent that the website was not secure and the issue was impacting hundreds of accounts. HUNDREDS of Bitcoins were paid out that should not have been. To make matters worse, our incoming Bitcoin addresses were changed and hackers stole all of the incoming coins. When we tried to fix the issue, we just kept getting hacked over and over. Finally the problem was solved, but it was too late. After the hacking, the plan was to use profits to re-liquidate the program, however people continued to withdraw, which ultimately lead to the overall failure and "reset". This can be referred to as a run on the bank. 100,000 Bitcoin AddressThose who believe that the 100,000 Bitcoin address belongs to BTC-Arbs are crazy. The total value of ALL BTC-Arbs accounts is more or less 500 Bitcoins. We weren't some billion dollar scam. The average user had less than 1 Bitcoin in their account. There are only 7 users with balances over 20 Bitcoins. There were less than 1000 accounts with Bitcoins in them. Re-IncarnationUpon resetting the program, the plan was to pay back all users using future profits. The plan was going well and members of Bitcoin Talk can attest that withdrawals were being paid and that many users had begun receiving a good portion of their investments back. The plan was going well until angry users decided to: - Hack the website further - Initiate a prolonged DDOS attack against the server - File a trademark complaint for the domain (WTF???) - Freeze fiat accounts (preventing refunds) ApologyI am VERY VERY VERY SORRY that the outcome of BTC-Arbs was what it was. I had dreams of running the first large and legitimate Bitcoin Arbitrage investment company that could have one day competed with banks and other global investment institutions. Instead, my dreams were destroyed and I now receive threats on a daily basis. Moving ForwardI have created a plan to help us move forward. I would appreciate everyone's help in fulfilling it. If you have any suggestions on how to improve my plan please tell me. The Plan1 - I have some Bitcoins left and I am still doing arbitrage with them. 2 - I want nothing more than to repay everyone. This won't be instant, but I want to do my best. 3 - I will continue paying refunds to everyone who lost money. In the interest of fairness, I think it is reasonable that until everyone is repaid their initial investments, that everyone only request the amount that was lost, not including profits. 4 - Please send your username, amount lost, Bitcoin address, username here (optional), details of your deposits, and any other information you can think of to btcarbsrefunds@safe-mail.net or by PM here. 5 - I will be using this thread to keep track of everything that I do, including refunds. BTC Arbs is NOT a scam. It was a failed investment that is now trying to make good on past promises. This was his first post. You can go to his profile, and look through all of the messages he's posted to get all of the gory details. Allright, fair enough, hope he stands up, and is doing what he´s saying ! But, this is from "May 30, 2014", i would appreciate an " UPDATE " ! ! ! BTC-Arbs, it´s still your turn . . . (hopeing, you´re writing on it, right now, thanks) any insight in your "doings", successful, or not, would instill confidence and patience in us, i mean, you have to keep your investors informed, damn, do i have to tell you the basics of business ?
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starfishi
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December 06, 2014, 03:12:17 PM Last edit: December 06, 2014, 05:52:45 PM by starfishi |
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BTC-Arbs, your silence is NOT a good sign ! (you know, communication and such . . . )
Ok, i´m talking to myself here. Back to "ground zero". Guys, i´ve tried . .
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Phildo
Legendary
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December 06, 2014, 08:16:03 PM |
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I suppose it could be easier to aggregate the week's profits and do it once a week or something, but it'd be nice if BTC-Arbs would clarify how he's doing things, so people would have some reasonable expectation of when things would happen. Make it a round every Friday or whatever.
What is there to clarify? You guys gave him a bunch of coins. He took it. Every so often he pops back in to throw some pennies back to you guys and you guys sit here and take it.
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FreeJack2k2
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December 07, 2014, 12:19:43 AM |
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You guys gave him a bunch of coins. He took it. Every so often he pops back in to throw some pennies back to you guys and you guys sit here and take it.
The alternative is the expense of a protracted legal action against the primaries involved with BTC-Arbs, in a foreign country, with no certainty of receiving anything in return financially. Although many people are aware of the identities of those who ran BTC-Arbs, the incentive to pursue legal satisfaction isn't there if they continue to demonstrate an intent to refund everyone...even if it takes a long time. So what are we going to do? Wind them up with legal action that stops all funds from being returned to people? Or just wait it out and let them try to make restitution. Because he's still here six months later, paying people back...it may be slow, but it's still happening. As far as whether or not the repayment is the result of arbitrage, or whether he took a second job to pay people back...I don't much care.
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starfishi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2014, 02:10:38 AM Last edit: December 07, 2014, 03:44:34 AM by starfishi |
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You guys gave him a bunch of coins. He took it. Every so often he pops back in to throw some pennies back to you guys and you guys sit here and take it.
The alternative is the expense of a protracted legal action against the primaries involved with BTC-Arbs, in a foreign country, with no certainty of receiving anything in return financially. Although many people are aware of the identities of those who ran BTC-Arbs, the incentive to pursue legal satisfaction isn't there if they continue to demonstrate an intent to refund everyone...even if it takes a long time. So what are we going to do? Wind them up with legal action that stops all funds from being returned to people? Or just wait it out and let them try to make restitution. Because he's still here six months later, paying people back...it may be slow, but it's still happening. As far as whether or not the repayment is the result of arbitrage, or whether he took a second job to pay people back...I don't much care. My last (first) payment worth just buys me a drink, should i drink slower ? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) "Wait it out" ? We´ll be all dead, by then . . . (and thats, what his game is about ! ) Any business-man would intervene in a discussion like this, and the lack thereof speaks for itself, no ? Yeah, maybe he´s on holiday (with our money ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ), lets wait some more . . ( you shouldn´t invest more, than you´re willing to bla bla, i know, and i didn´t, but this bullshiting here makes me angry on a personal level, btc-arbs )
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PanicBot
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December 07, 2014, 06:55:41 AM |
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any insight in your "doings", successful, or not, would instill confidence and patience in us, i mean, you have to keep your investors informed, damn, do i have to tell you the basics of business ?
Have you considered reading the thread?
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actudoran
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December 07, 2014, 07:22:37 AM |
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BTC-Arbs Hi mate !
I got my first round repayments and reading through the thread I saw talk of second rounds ... well ... any news on that for me ?
I still got well over 3 BTC to recover and the first payment was only 0.1 BTC .... a second more substantial payment would be much appreciated!
Thank you and have a good weekend !
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starfishi
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December 07, 2014, 01:48:48 PM Last edit: December 07, 2014, 02:32:11 PM by starfishi |
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BTC-Arbs Hi mate !
I got my first round repayments and reading through the thread I saw talk of second rounds ... well ... any news on that for me ?
I still got well over 3 BTC to recover and the first payment was only 0.1 BTC .... a second more substantial payment would be much appreciated!
Thank you and have a good weekend !
Are you out of your mind ? I hope, his weekend consists of a pile of . . . and, yep, appreciated, it would be ! (how do i talk nice, when i´m angry ? . . . trying with limited success ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ) btc-arbs, you made me subscribe to that anger-management course, thank you .
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starfishi
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December 07, 2014, 06:45:07 PM Last edit: December 07, 2014, 06:58:33 PM by starfishi |
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I got the feeling, that he´s just a bot, saying: "more payments coming soon", once a while. Hello, echo . . and we´re talking to ourselves here, damn . .
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BTC-Arbs
Member
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December 07, 2014, 08:33:54 PM |
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I got the feeling, that he´s just a bot, saying: "more payments coming soon", once a while. Hello, echo . . and we´re talking to ourselves here, damn . .
Not a bot and for those paying attention payments are sent every time I say that more payments are being made. The refund strategy has been changed so that more people are sent payments every time refund payments are sent but the individual amounts are smaller. More payments will be sent in 15 minutes.
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starfishi
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December 08, 2014, 01:39:49 AM |
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I got the feeling, that he´s just a bot, saying: "more payments coming soon", once a while. Hello, echo . . and we´re talking to ourselves here, damn . .
Not a bot and for those paying attention payments are sent every time I say that more payments are being made. The refund strategy has been changed so that more people are sent payments every time refund payments are sent but the individual amounts are smaller. More payments will be sent in 15 minutes. What exactly is the refund strategy, or are you just doing it when you feel like it, or when we complain to much here, or when friday falls on thursday, or . . . in short, what are you doing, please, business-transparency. Thank you for the answer. ( you know exactly, what i´m asking for, you´re just playing "hard to catch" )
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starfishi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 08, 2014, 02:46:57 AM |
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whoops, got my second "payment". At this pace, i have to be careful, to not to get drunk. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thanks anyway. (never thought i´d have this much patience in me )
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fox19891989
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December 08, 2014, 04:43:21 AM |
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Don't join HYIP, they are ALL SCAMS, gamble is easier to make money compared to invest money on HYIP sites.
PS: if this admin is willing to refund, he must be a good man, congratulations, guys.
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starfishi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 08, 2014, 04:46:58 AM |
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I got the feeling, that he´s just a bot, saying: "more payments coming soon", once a while. Hello, echo . . and we´re talking to ourselves here, damn . .
Not a bot and for those paying attention payments are sent every time I say that more payments are being made. The refund strategy has been changed so that more people are sent payments every time refund payments are sent but the individual amounts are smaller. More payments will be sent in 15 minutes. What exactly is the refund strategy, or are you just doing it when you feel like it, or when we complain to much here, or when friday falls on thursday, or . . . in short, what are you doing, please, business-transparency. Thank you for the answer. ( you know exactly, what i´m asking for, you´re just playing "hard to catch" ) Hate to be a "pain in the ass", here, but i asked a legit question. Can i get a legit answer, btc-arbs ? Or are you just not talking to your investors ? Damn, you know what i´m asking for, how many times do i have to say that !
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starfishi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 08, 2014, 05:00:47 AM |
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Don't join HYIP, they are ALL SCAMS, gamble is easier to make money compared to invest money on HYIP sites.
PS: if this admin is willing to refund, he must be a good man, congratulations, guys.
Yeah, we know that by now, we´ve been stupid, but now we´re angry ! My anger-management course isn´t working. . . BTC-Arbs, answer please !
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dszuecs
Newbie
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December 08, 2014, 07:37:27 AM |
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Received 0.04 BTC today, thank you! Will update spreadsheet.
dszuecs
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fox19891989
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 08, 2014, 09:17:31 AM |
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Don't join HYIP, they are ALL SCAMS, gamble is easier to make money compared to invest money on HYIP sites.
PS: if this admin is willing to refund, he must be a good man, congratulations, guys.
Yeah, we know that by now, we´ve been stupid, but now we´re angry ! My anger-management course isn´t working. . . BTC-Arbs, answer please ! Yeah, I was scammed 300 USD by HYIP last year. Now I am clever and never invest my money to those shit scammers.
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