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Author Topic: UpDown.bt — Binary Options — | Instant bets | Payouts in 60sec | BCF Gold Member  (Read 35918 times)
UpDown.BT
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July 15, 2014, 10:06:57 PM
 #241

So how is this a scam? I've been playing on here with like 0.05 or less now for the longest time for fun, and nothing has ever happened to me :\

You should wait for at least one confirmation until doublespends are possible in the network.

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theonewhowaskazu
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July 15, 2014, 11:14:42 PM
 #242

So how is this a scam? I've been playing on here with like 0.05 or less now for the longest time for fun, and nothing has ever happened to me :\

You should wait for at least one confirmation until doublespends are possible in the network.

Hi, I have encountered 2 major problems. First your system introduces a VARIABLE LAG before transactions are processed. This lag can be anywhere from 1 second to 12 seconds in my experience. You don't have to take my word for it, look on the blockchain. The differential there is huge. 12 seconds is 1/5th of the entire length of the binary option. Theoretically with that kind of lag it would be possible to completely change the outcome of a bet, and this has happened to me multiple times. It is mandatory that you fix this.

Second, your system occasionally marks withdraws as "processing" rather than actually "win" or "loss". Then, later, it will switch to "win" or "loss" by which time the price may have changed significantly. It doesn't appear to always check the price at the time it "began" processing. This can last 15 minutes which obviously is way longer than the option itself. For an example where this system has cheated me out of winnings I should have been due, please refer to the transaction made immediately prior to the one made at 23:49:07.

Please fix these problems. My address is the one in the transaction I just referenced (23:49:07).

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July 16, 2014, 12:43:19 AM
 #243

Service got a bunch of double spent attacks, so a lot of transactions was stuck during this time, and I was mostly away last month because of illness. Now everything works fine, except one thing — payouts are not instant anymore.

No offence but to me sounds like your running a bitcoin business being non solvent just like mtgox,  Plus I seeen many scam accusations about not paying forum advertisers.  Its very petty for you invest 25000 usd, then to let everything fall due to an illness which you never elaboratley explained to any of the members.

From what I read in the sig campaign thread, a lot of people are still waiting for their payment for last month...

Everybody got paid with a week or so delay — not so big delay to name someone a scammer. We've meet a lot of scammers on the forum, and it makes me laugh a bit when someone who sells his signature for money names us scammers after week delay.


That seems like a bit of an insult to your own clients.
I have yet to receive my "seized" funds back. Can you please provide a response to this as I have waited for a rather long time.
You cannot expect people to not grow impatient with the delays that have been caused by your company.

Agree with initski.  Updown why are you minimizing the fact that you were so late?  No, now I wouldn't call you a scammer but your attitude is to screw everyone else, even in this post I'm quoting.  There's nothing unethical about selling a signature, but your actions were unethical where you were indefinitely holding us all hostage with no idea whether you'd payout or not.  Even if you had come and said "sorry guys, I'm really ill, I'm gathering coins to pay, etc." it would have been ok.  Instead you promised 2 different dates on which you would pay and totally ignored those dates and didn't even pop on to say what was going on.

You need more faith. We're not a scammers, we're making business. And finally everybody (who had enough faith and hope) got paid.

I have yet to be paid for the amount seized?

PHP / Python developer. PM for more information.
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July 16, 2014, 02:52:57 AM
 #244

Service got a bunch of double spent attacks, so a lot of transactions was stuck during this time, and I was mostly away last month because of illness. Now everything works fine, except one thing — payouts are not instant anymore.

No offence but to me sounds like your running a bitcoin business being non solvent just like mtgox,  Plus I seeen many scam accusations about not paying forum advertisers.  Its very petty for you invest 25000 usd, then to let everything fall due to an illness which you never elaboratley explained to any of the members.

From what I read in the sig campaign thread, a lot of people are still waiting for their payment for last month...

Everybody got paid with a week or so delay — not so big delay to name someone a scammer. We've meet a lot of scammers on the forum, and it makes me laugh a bit when someone who sells his signature for money names us scammers after week delay.


That seems like a bit of an insult to your own clients.
I have yet to receive my "seized" funds back. Can you please provide a response to this as I have waited for a rather long time.
You cannot expect people to not grow impatient with the delays that have been caused by your company.

Agree with initski.  Updown why are you minimizing the fact that you were so late?  No, now I wouldn't call you a scammer but your attitude is to screw everyone else, even in this post I'm quoting.  There's nothing unethical about selling a signature, but your actions were unethical where you were indefinitely holding us all hostage with no idea whether you'd payout or not.  Even if you had come and said "sorry guys, I'm really ill, I'm gathering coins to pay, etc." it would have been ok.  Instead you promised 2 different dates on which you would pay and totally ignored those dates and didn't even pop on to say what was going on.

You need more faith. We're not a scammers, we're making business. And finally everybody (who had enough faith and hope) got paid.

I have yet to be paid for the amount seized?

You didn't answer my questions or address many peoples' concerns- your only reply was that I need more "faith".  And without more answers and changes to your site it's blind faith which is a stupid thing to do. You said you'll address Any issues, I asked questions about why there was a delay and no information from you, you said I need more faith and hope. Talk about avoiding the question...
theonewhowaskazu
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July 16, 2014, 04:17:42 AM
 #245

Hello... nobody is even paying attention to how the site itself cheats (either intentionally or unintentionally) and instead is focusing on the sig campaign... lol

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July 16, 2014, 05:56:47 AM
 #246

Hello... nobody is even paying attention to how the site itself cheats (either intentionally or unintentionally) and instead is focusing on the sig campaign... lol

Maybe it tells us the site has more signature ad participants than customers lol. Cheesy

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July 16, 2014, 06:04:17 AM
 #247

Hello... nobody is even paying attention to how the site itself cheats (either intentionally or unintentionally) and instead is focusing on the sig campaign... lol

Maybe it tells us the site has more signature ad participants than customers lol. Cheesy

Roflmao. Well, the administration should be online aNY minute now. Maybe he can go in and fix his code.

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July 16, 2014, 06:34:44 PM
 #248

Hello... nobody is even paying attention to how the site itself cheats (either intentionally or unintentionally) and instead is focusing on the sig campaign... lol

Exactly. The site (and owners) business practices are completely shady.

PHP / Python developer. PM for more information.
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July 18, 2014, 04:27:30 PM
 #249

So how is this a scam? I've been playing on here with like 0.05 or less now for the longest time for fun, and nothing has ever happened to me :\

You should wait for at least one confirmation until doublespends are possible in the network.

Hi, I have encountered 2 major problems. First your system introduces a VARIABLE LAG before transactions are processed. This lag can be anywhere from 1 second to 12 seconds in my experience. You don't have to take my word for it, look on the blockchain. The differential there is huge. 12 seconds is 1/5th of the entire length of the binary option. Theoretically with that kind of lag it would be possible to completely change the outcome of a bet, and this has happened to me multiple times. It is mandatory that you fix this.

Second, your system occasionally marks withdraws as "processing" rather than actually "win" or "loss". Then, later, it will switch to "win" or "loss" by which time the price may have changed significantly. It doesn't appear to always check the price at the time it "began" processing. This can last 15 minutes which obviously is way longer than the option itself. For an example where this system has cheated me out of winnings I should have been due, please refer to the transaction made immediately prior to the one made at 23:49:07.

Please fix these problems. My address is the one in the transaction I just referenced (23:49:07).

1) This is a technical lag, transaction processing can take some time that we're trying to make as small as possible. Hope that new technical infrastructure will help us to avoid any lags like this.

2) Bet will be processed in 60s after it was been made, "processing" doesn't change anything here, we just need some time to get information from our server and show it on the website.

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July 18, 2014, 04:28:16 PM
 #250

Hello... nobody is even paying attention to how the site itself cheats (either intentionally or unintentionally) and instead is focusing on the sig campaign... lol

Maybe it tells us the site has more signature ad participants than customers lol. Cheesy

Hopefully not. We have much more bets that signatures )


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July 18, 2014, 04:31:09 PM
 #251

you didnt pay me what is owed Uptown I was patient enough and left feedback, you owe me .29 btc

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July 18, 2014, 04:32:41 PM
 #252

Updown.bt, please review my earlier messages. Your site still hasn't processed the payments it was 'processing'... :\

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July 18, 2014, 05:05:06 PM
 #253

you didnt pay me what is owed Uptown I was patient enough and left feedback, you owe me .29 btc

Hope everything is solved now.

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July 18, 2014, 05:06:01 PM
 #254

Updown.bt, please review my earlier messages. Your site still hasn't processed the payments it was 'processing'... :\

Can you give me transaction ID?

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July 18, 2014, 05:15:34 PM
 #255

Updown.bt, please review my earlier messages. Your site still hasn't processed the payments it was 'processing'... :\

Can you give me transaction ID?

I gave you the time in the system. Here are some examples:

https://blockchain.info/tx/7124cfad4fc011e62343d38327d55d402015bd93f558c9917b7ca282096201d9
https://blockchain.info/tx/09219873db9e309ff9442df08997aadfc880f9554ec4a249c9af7f3423bdbe04

Because of the lag in the system its pretty hard to tell which had the problem.

BitCoinPokerBro
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July 18, 2014, 05:27:10 PM
 #256

If you guys want to bet/trade with a legit 60 second option broker go to http://satoshioption.com. They might not be on bitcointalk vary much but the site has always paid me over the last 12 months

Pro's

100% anonymous
Onsite wallet
Been paying for more than a year
Money forgotten in a onsite wallet is automatically sent back to the sending address after 3 days of inactivity


Con's


Markets sometimes turn off/on
Deposits need 1 confirmation
Low payout for btc/usd compared to forex pairs/gold/silver

Satoshi Option also runs a option exchange for btc/usd more similar to normal options instead of binary. I haven't personally tried that portion of the site yet though so no feedback.


Alternatively beastoption runs on professional binary option trading software which is pretty much the same as any usd/eur/gbp based binary broker. They also offer longer timeframe of 1m to 1h.
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July 18, 2014, 06:24:36 PM
 #257

If you guys want to bet/trade with a legit 60 second option broker go to http://satoshioption.com. They might not be on bitcointalk vary much but the site has always paid me over the last 12 months

Pro's

100% anonymous
Onsite wallet
Been paying for more than a year
Money forgotten in a onsite wallet is automatically sent back to the sending address after 3 days of inactivity


Con's


Markets sometimes turn off/on
Deposits need 1 confirmation
Low payout for btc/usd compared to forex pairs/gold/silver

Satoshi Option also runs a option exchange for btc/usd more similar to normal options instead of binary. I haven't personally tried that portion of the site yet though so no feedback.


Alternatively beastoption runs on professional binary option trading software which is pretty much the same as any usd/eur/gbp based binary broker. They also offer longer timeframe of 1m to 1h.

We're paying everyone since we've start an operation, having more fancy interface and working on a much more new stuff in a coming months. Service had some bad times for a month or so, but it was always paying to the customers.

We've had a lot of discussions about onsite wallet, but we want to secure client's money as much as possible, and best way to do so is not to store client's money.


BitCoinPokerBro
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July 18, 2014, 07:27:57 PM
 #258

If you guys want to bet/trade with a legit 60 second option broker go to http://satoshioption.com. They might not be on bitcointalk vary much but the site has always paid me over the last 12 months

Pro's

100% anonymous
Onsite wallet
Been paying for more than a year
Money forgotten in a onsite wallet is automatically sent back to the sending address after 3 days of inactivity


Con's


Markets sometimes turn off/on
Deposits need 1 confirmation
Low payout for btc/usd compared to forex pairs/gold/silver

Satoshi Option also runs a option exchange for btc/usd more similar to normal options instead of binary. I haven't personally tried that portion of the site yet though so no feedback.


Alternatively beastoption runs on professional binary option trading software which is pretty much the same as any usd/eur/gbp based binary broker. They also offer longer timeframe of 1m to 1h.

We've had a lot of discussions about onsite wallet, but we want to secure client's money as much as possible, and best way to do so is not to store client's money.



As many people have stated it's also the best way to prolong the bet by x amount of time. With a 60 second option even 1 second delay (never mine 50-100%) is enough to tip the scales from profit to loss. Which is why I only play where onsite wallets are available.
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July 18, 2014, 07:46:54 PM
 #259

Updown.bt, please review my earlier messages. Your site still hasn't processed the payments it was 'processing'... :\

Can you give me transaction ID?

I gave you the time in the system. Here are some examples:

https://blockchain.info/tx/7124cfad4fc011e62343d38327d55d402015bd93f558c9917b7ca282096201d9
https://blockchain.info/tx/09219873db9e309ff9442df08997aadfc880f9554ec4a249c9af7f3423bdbe04

Because of the lag in the system its pretty hard to tell which had the problem.

Both of the transactions you provided above are processed without any errors.

Processing status will be shown until we will get first confirmation, that may take pretty much time sometimes.

theonewhowaskazu
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July 18, 2014, 07:50:08 PM
 #260

Updown.bt, please review my earlier messages. Your site still hasn't processed the payments it was 'processing'... :\

Can you give me transaction ID?

I gave you the time in the system. Here are some examples:

https://blockchain.info/tx/7124cfad4fc011e62343d38327d55d402015bd93f558c9917b7ca282096201d9
https://blockchain.info/tx/09219873db9e309ff9442df08997aadfc880f9554ec4a249c9af7f3423bdbe04

Because of the lag in the system its pretty hard to tell which had the problem.

Both of the transactions you provided above are processed without any errors.

Processing status will be shown until we will get first confirmation, that may take pretty much time sometimes.

(1) My orders have been processed many times without this 1 confirmation requirement.
(2) This rule is not shown ahead of time and is entirely unreasonable. How can I possibly predict when the next block will come, let alone the price of gold at that time?

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