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Author Topic: the first automated bitcoin trading tool - legit stuff ?  (Read 10321 times)
phorensic
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January 12, 2012, 04:43:57 AM
 #21

Welp, I deposited 1.81097116 BTC 4 hours ago and it says I have pulled a 0.0237 BTC profit so far.  That's not bad for 4 hours of soak time!  Of course I have yet to withdraw anything.
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farfiman
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January 12, 2012, 07:49:19 AM
 #22

I have also tried with a few coins  and so far can't complain...  if its real or not?
We shall see.

"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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January 12, 2012, 08:27:02 AM
 #23

They said they got 1000 bitcoins so far and on their website they say they made about 39 bitcoins.  That is 3.9%.  I wonder where that 3.9% is coming from...

So here is a question.  They take a 1.75% fee when you withdraw.  Lets say you put in 100 bitcoins but you nothing happens, No return is made.   You withdraw your money.  Is the 1.75% withdraw fee on all your money or only on a profit you generate?  In this hypothetical account of 100 bitcoins, does the client get her 100 bitcoins back or is she only able to withdraw 98.25 bitcoins?

I am not saying it is a scam but I am not going to put my money in there because I don't see enough transparency in bitscalper.com.  They claim their country has strict financial laws, but they don't claim their country.  Since their laws are so overbearing, the site management has to stay anonymous.  There is a way to stay anonymous and still have a reputation.  They can build a reputation on the btc-OTC web of trust and still not use a real name.  The site can be completely legit, but someone hacks it.  You don't know who you are sending money to already and if you contact them how do you know if you are talking to the right people?

Another way in building trust is to open up part of your model to everyone to see.  I don't like black boxes.  I am sure your model is proprietary, but Bernard Madoff would say the same thing.  His model was to get money from X, Y, and Z then take x% of Z's money and give to X and Y.

Introducing constraints to the economy only serves to limit what can be economical.
farfiman
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January 12, 2012, 02:23:18 PM
 #24

They said they got 1000 bitcoins so far and on their website they say they made about 39 bitcoins.  That is 3.9%.  I wonder where that 3.9% is coming from...

So here is a question.  They take a 1.75% fee when you withdraw.  Lets say you put in 100 bitcoins but you nothing happens, No return is made.   You withdraw your money.  Is the 1.75% withdraw fee on all your money or only on a profit you generate?  In this hypothetical account of 100 bitcoins, does the client get her 100 bitcoins back or is she only able to withdraw 98.25 bitcoins?

I am not saying it is a scam but I am not going to put my money in there because I don't see enough transparency in bitscalper.com.  They claim their country has strict financial laws, but they don't claim their country.  Since their laws are so overbearing, the site management has to stay anonymous.  There is a way to stay anonymous and still have a reputation.  They can build a reputation on the btc-OTC web of trust and still not use a real name.  The site can be completely legit, but someone hacks it.  You don't know who you are sending money to already and if you contact them how do you know if you are talking to the right people?

Another way in building trust is to open up part of your model to everyone to see.  I don't like black boxes.  I am sure your model is proprietary, but Bernard Madoff would say the same thing.  His model was to get money from X, Y, and Z then take x% of Z's money and give to X and Y.

I guess we cant be sure if they did make the 3.9% or not. If everybody cashes out at once we could see, and even then it could be coming from their pocket to earn trust. They still haven't answered most questions and hopefully they will. I did throw a few coins in to try it out . It's a small gamble , if I make some money - great , If not then I learned a lesson for a the price of a few btc's.

"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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January 12, 2012, 03:34:39 PM
 #25

People here is really crazily paranoid but we understand. At the moment we cannot provide source code but we are working on showing some internal stats and some more informations about the system. We look forward to build some trust in the long time.
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January 12, 2012, 04:00:40 PM
 #26

People here is really crazily paranoid but we understand. At the moment we cannot provide source code but we are working on showing some internal stats and some more informations about the system. We look forward to build some trust in the long time.

Just because one is paranoid doesn't mean they aren't being followed....


"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
phorensic
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January 12, 2012, 04:49:41 PM
 #27

They claim their country has strict financial laws, but they don't claim their country.
This is one red flag I didn't like.  Besides not disclosing the country the servers are in, its not that hard to get hosting in another country to virtually solve that problem anyway.
bitscalper
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January 12, 2012, 05:46:43 PM
 #28

They claim their country has strict financial laws, but they don't claim their country.
This is one red flag I didn't like.  Besides not disclosing the country the servers are in, its not that hard to get hosting in another country to virtually solve that problem anyway.

Well of course the server is located in another country, here financial control is really getting too tigh. We are located in Europe anyway, it's not hard to make a guess.
stochastic
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January 12, 2012, 06:48:21 PM
 #29

People here is really crazily paranoid but we understand.

There is a difference between paranoia and vigilance.

Quote
Paranoia (par·a·noi·a) - Baseless or excessive suspicion of the motives of others.


Quote
Vigilance (vig·i·lance) - The state or quality of being keenly watchful to detecting danger.

Introducing constraints to the economy only serves to limit what can be economical.
Ente
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January 12, 2012, 08:05:34 PM
 #30

Bitscalper, how is my earnings calculated?

Ente
phorensic
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January 12, 2012, 08:11:41 PM
 #31

They claim their country has strict financial laws, but they don't claim their country.
This is one red flag I didn't like.  Besides not disclosing the country the servers are in, its not that hard to get hosting in another country to virtually solve that problem anyway.

Well of course the server is located in another country, here financial control is really getting too tigh. We are located in Europe anyway, it's not hard to make a guess.
Oh, then that makes me more comfortable and you should be as well.  Yes, you are technically doing business personally where you live and sit your butt down, but the servers are in a safe haven which is more important.
bitscalper
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January 12, 2012, 09:41:43 PM
 #32

Bitscalper, how is my earnings calculated?

Ente

Hi Ente,

Earning depends on the opportunities windows. there is no way it's calculated up. it depends on how much you deposit, the return could be anything from 0% to 5% daily, or even more. 
bitscalper
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January 12, 2012, 09:43:01 PM
 #33

Oh, then that makes me more comfortable and you should be as well.  Yes, you are technically doing business personally where you live and sit your butt down, but the servers are in a safe haven which is more important.

More important for your coins, but not for our personal freedom. If we get caught here it's jail time. Period.

kronosvl
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January 12, 2012, 09:51:18 PM
 #34



Deposited 1BTC
I don't understand how could I earn 0.0207 and have 1.0283 instead of 1.0207

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Nachtwind
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January 12, 2012, 09:53:16 PM
 #35

Started about 24hrs ago it shows me 0.02935 profits started with 0.5BTC. Havent tried to withdraw so far though.
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January 12, 2012, 10:51:52 PM
 #36

I'm not putting a password on that website. There is no https.

I highly suggest that he invest in an SSL certificate.

Bitcoin: the only currency you can store directly into your brain.

What this planet needs is a good 0.0005 BTC US nickel.
bitscalper
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January 13, 2012, 04:01:25 AM
 #37

We should have fixed the problem with wrong amounts showing up in the balance. Please let us know if you still notice weird stuffs.
bitscalper
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January 13, 2012, 04:04:00 AM
 #38

I'm not putting a password on that website. There is no https.

I highly suggest that he invest in an SSL certificate.

Only viable option as for now is to install the SSL encryption with a bogus certificate, because getting a level II SSL certificate would defy completely our anonymity.
kronosvl
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January 13, 2012, 04:13:38 AM
 #39

the problem with wrong amounts is fixed

what bothers me now is the mail I received:

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Dear User,

We apologize but your password was changed because of a technical problem to the database. Your password is now : xxxxxxxx
Feel free to change it by logging in into your account.

--
Best Regards
Bitscalper Team


1. I had a much stringer password that was autogenerated (I know I can put it back)
2. Sending the new password in clear on the email (This is never a good ideea)

LE: tried to change the password and now I can't login with the new pass or the old one
Recovery tells me to send an email to info@bitscalper.com instead of generating some kind of link and send it to the email?
WTF is this?

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bitscalper
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January 13, 2012, 05:12:54 AM
 #40

the problem with wrong amounts is fixed

what bothers me now is the mail I received:

Quote
Dear User,

We apologize but your password was changed because of a technical problem to the database. Your password is now : xxxxxxxx
Feel free to change it by logging in into your account.

--
Best Regards
Bitscalper Team


1. I had a much stringer password that was autogenerated (I know I can put it back)
2. Sending the new password in clear on the email (This is never a good ideea)

LE: tried to change the password and now I can't login with the new pass or the old one
Recovery tells me to send an email to info@bitscalper.com instead of generating some kind of link and send it to the email?
WTF is this?

It's only a technical glitch we had. Remember that we are still in beta phase. We never read your password and only store them strongly hashed. We will look into the issue you ran. We will be also implementing a forgot password feature within the next 24 hours.
We apologize again for the inconvenience, your problem should be fixed now.
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