bitscalper anyone use this ? [PASSWORDS LEAKED]

[myself]

http://bitscalper.com anyone use this thing ??

Note from theymos:
Bitscalper.com passwords have been leaked. More info.

[ArsenShnurkov]

http://bitscalper.com anyone sue this thing ??

I didn't use it, and it have few users, I think, because

4.9722 Bitcoin scalped to date

Why should it be sued and in which court?

[adamstgBit]

Mybitcoin 2.0?

[phorensic]

Is this the bot making the 0.0123 trades at high frequencies?

[FreeMoney]

It's a little bit opaque about exactly what they do.

Here's an idea.  Ask user to enter:

1. Spread percent (maybe give reasonable choices)
2. Amount (or omit this and just let them send)
3. Give up time (this is when you move back into BTC at the current ask)
4. Return btc address

You calculate midmarket at some exchange to use as a center, post a bid at center minus 1/2 of their given spread, when that order is filled or partially filled post an ask at center plus 1/2 spread. When this is done return coins and profit minus fees.

Advantages:

1. Liquidity is provided.
2. Small users benefit from putting their action on one account because they can have lower exchange fees than otherwise.
3. Little knowledge is required. No account required.
4. Simple pre-committed plan is not vulnerable to user emotions.

I realize this isn't foolproof profit at all and it shouldn't be advertised as such.
 

[phorensic]

Giving this a try with a few BTC.  Will report findings.

[ineededausername]

They really do show profits in your account if you deposit.  However, the bitcoin you send will not be respent... check the blockchain.  I smell a ponzi.

However, ponzis are fun.  I'm joining in

[adamstgBit]

Giving this a try with a few BTC.  Will report findings.

the guy that made this thing is thinking:

"Yes, my plan is working muhahahaha"

[phorensic]

Well, I only gamble with a small percentage of my total BTC..what I can afford to lose.

[BurtW]

Signing up to check it out.

[notme]

They really do show profits in your account if you deposit.  However, the bitcoin you send will not be respent... check the blockchain.  I smell a ponzi.

However, ponzis are fun.  I'm joining in

1 BTC deposited

[Vandroiy]

If this were to work, why the heck would they not trade with their own money? If the method is really that good, wouldn't their returns pile up, exponentially depleting whatever opportunities they try to exploit?

Smells very fishy.

[BurtW]

+1

[Eveofwar]

If this were to work, why the heck would they not trade with their own money? If the method is really that good, wouldn't their returns pile up, exponentially depleting whatever opportunities they try to exploit?

Smells very fishy.

Unless they have small/no capital.  Then they rely on other's withdraw fee for returns to pile up ?

[Vitalik Buterin]

If this were to work, why the heck would they not trade with their own money? If the method is really that good, wouldn't their returns pile up, exponentially depleting whatever opportunities they try to exploit?

Smells very fishy.

Unless they have small/no capital.  Then they rely on other's withdraw fee for returns to pile up ?

A fee of 1.75% is a bit low. I'd charge 50% for something like this.

[Dan The Man]

If this were to work, why the heck would they not trade with their own money? If the method is really that good, wouldn't their returns pile up, exponentially depleting whatever opportunities they try to exploit?

Smells very fishy.

Unless they have small/no capital.  Then they rely on other's withdraw fee for returns to pile up ?

A fee of 1.75% is a bit low. I'd charge 50% for something like this.

1.75% is not low when you can just wait until there are a few thousand customers and then take a nice 100% of their capital.

[BTCurious]

"© 2013/2013"


Uuuuh…

[Jonathan Ryan Owens]

Post screenshots if you have them.

[BTCurious]

Even though it looks legit and pays out fine for a while, it could still be a ponzi scheme.

[waspoza]

Looks too good to be true imo.