the first automated bitcoin trading tool - legit stuff ?

[farfiman]

Whether this site is legit or not we don't know yet.  But those that decided to take a risk like me shouldn't
complain so much. It does state that its BETA. You can give advice , point out bugs etc... but I don't think
that complaining is part of using a FREE and BETA service.

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[Ente]

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. 

Actually I meant to ask "how is my share of the total earnings calculated?".
Like, for example, you said you have approx 1000 Bitcoins in your books. I have 5 Bitcoin in my account. That is 5/1000 of the total. Now, if you to some magic and produce 50 Bitcoins, will I get 5/1000 of this gain, so will my earnings be 0.25 Bitcoins? The next day my account balance would be 5.25 Bitcoins then?

I.e. is the total gain distributed evenly among the users according to how much they contributed to the total sum?

(Why do I ask? MtGox, for example, charges different fees depending on volume)

Ente

[bitscalper]

Whether this site is legit or not we don't know yet.  But those that decided to take a risk like me shouldn't
complain so much. It does state that its BETA. You can give advice , point out bugs etc... but I don't think
that complaining is part of using a FREE and BETA service.

We're doing everything  we can to keep the bugs at a minimum and working around the clock to fix issues.

[bitscalper]

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. 

Actually I meant to ask "how is my share of the total earnings calculated?".
Like, for example, you said you have approx 1000 Bitcoins in your books. I have 5 Bitcoin in my account. That is 5/1000 of the total. Now, if you to some magic and produce 50 Bitcoins, will I get 5/1000 of this gain, so will my earnings be 0.25 Bitcoins? The next day my account balance would be 5.25 Bitcoins then?

I.e. is the total gain distributed evenly among the users according to how much they contributed to the total sum?

(Why do I ask? MtGox, for example, charges different fees depending on volume)

Ente

Of course not, the system works like this :
Suppose the profit % is 2.25%, if you have 100 bitcoins deposit, you would make 100*2.25/100 = 2.25 bitcoin.
The next day if the profit % is 3.50%, you would have 102.25*3.50/100 = 3.57 bitcoin and so on.
 

[bitscalper]

we have pushed an update with internal statistics disclosure to help people take confidence with bitscalper. We'll be updating and expanding it soon.

[gnar1ta$]

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.

Why do you need complete anonymity for a legitimate business?

[bitscalper]

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.

Why do you need complete anonymity for a legitimate business?

Because of our location. We are concerned about being raided.

[bulanula]

Can you say scam / ponzi of the month ?

January 2012 award goes to : ... BitScalper !!!

Please explain how you make money and why you need the user's BTC and not just use your own BTC and that magical black box with 5% return

[bitscalper]

Can you say scam / ponzi of the month ?

January 2012 award goes to : ... BitScalper !!!

Please explain how you make money and why you need the user's BTC and not just use your own BTC and that magical black box with 5% return

I guess only facts could speak for you to be convinced that this is not a scam.
We do make money by arbitraging bitcoins on several exchanges, as already explained.

[gnar1ta$]

I guess only facts could speak for you to be convinced that this is not a scam.
We do make money by arbitraging bitcoins on several exchanges, as already explained.

But that's what many people are looking for is facts, and facts like this...

Because of our location. We are concerned about being raided.

don't inspire much confidence, your contradicting yourself.  Again, why would you be raided for running a legitimate business?  Many of us are not familiar with other nations laws. Is there some country where bitcoins are illegal? or exchanges? or servers? Or you just need to meet some crazy liscencing or permits to run the business?

[bitscalper]

I guess only facts could speak for you to be convinced that this is not a scam.
We do make money by arbitraging bitcoins on several exchanges, as already explained.

But that's what many people are looking for is facts, and facts like this...

Because of our location. We are concerned about being raided.

don't inspire much confidence, your contradicting yourself.  Again, why would you be raided for running a legitimate business?  Many of us are not familiar with other nations laws. Is there some country where bitcoins are illegal? or exchanges? or servers? Or you just need to meet some crazy liscencing or permits to run the business?

Why don't you just take time to read the thread ? i already stated clearly the reasons to other people asking the same. Our government is crazy enough to consider trafficking large sums of bitcoins a serious white collar crime.

[Ferroh]

"© 2013/2013 bitscalper.com"

Must be easy to auto trade when you're from the future.

[bitscalper]

"© 2013/2013 bitscalper.com"

Must be easy to auto trade when you're from the future.

eheh good one, on which page ?

[farfiman]

"© 2013/2013 bitscalper.com"

Must be easy to auto trade when you're from the future.

eheh good one, on which page ?

1st page

edit: its fixed..

[gnar1ta$]

Why don't you just take time to read the thread ? i already stated clearly the reasons to other people asking the same. Our government is crazy enough to consider trafficking large sums of bitcoins a serious white collar crime.

I did read the thread.  And I was hoping to get a reasonable explanation before sending you coins.  What your implying is that your anonymity is required because the government where you live recognizes bitcoins stored and trasnfered on servers in another country as money, which I doubt is true. So thanks for the response and good luck with your business.

[bulanula]

"© 2013/2013 bitscalper.com"

Must be easy to auto trade when you're from the future.

LOL.

On another note, it seems they are hosted in Germany ?

http://bitscalper.com.hostlogr.com/

[bitscalper]

Why don't you just take time to read the thread ? i already stated clearly the reasons to other people asking the same. Our government is crazy enough to consider trafficking large sums of bitcoins a serious white collar crime.

I did read the thread.  And I was hoping to get a reasonable explanation before sending you coins.  What your implying is that your anonymity is required because the government where you live recognizes bitcoins stored and trasnfered on servers in another country as money, which I doubt is true. So thanks for the response and good luck with your business.

The government doesn't 'recognize' magically anything. We are concerned about investigations on the bitcoin scene in this country, that's all. if you want to invest or not is up to you. Living with doubts is living more safely. Cheers

[FredericBastiat]

I would suggest that if (big if), everyone here constitutes the largest investment in bitscalper, and we sum our total investment (hoping to approximate the purported 1000 BTC received thus far), then decide on a chronologically near date to minimize risk exposure and execute a test. That test would be to all simultaneously withdraw the entire investment on a specific date to see if bitscalper can comply with the request.

The nearby date should be such that it exceeds the withdrawal fee by a large multiple... say 5 times, and see if you get your money back. If everybody posts this withdrawal date so that a maximum of persons can see it, and a majority of investors withdraw on that date, you might be able to semi-verify the validity or legitimacy of their claims. This could prove that firstly they are using arbitrage, and second they are capable of paying.

They could get caught sideways in a trade (too long/short the commodity), but they shouldn't go bust. Call it crowd sourced participation.

The other option is to use an escrow service or trusted agent, give him the money then have him do the deposit and withdrawal (he could even withdraw on an unknown but proximal date to not "show his hand"). I'm sure we could find someone here we could trust. That way we can create one huge wave instead of in-the-noise random ripple effects.

[hoo]

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.

IMO that is acceptable.

[jothan]

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.

You can keep your certificate fingerprint in your signature or something or use a somewhat-valid CAcert one.