We've developed a bitcoin arbitrage platform

[Bitllama]

Hey guys!

We are a group of friends who have now spent the past 6 months developing an automated cryptocurrency trading platform, that detects and executes arbitrage opportunities throughout different markets. For those of you unfamiliar with the term, arbitrage simply means simultaneously buying bitcoins or litecoins low in one market and selling them high at another, creating a small profit with each trade.

We have tested the platform using our own investment and through friends that served as alpha testers. We found the platform to be working, stable and so far making consistent profits anywhere between 2%- to 6% a month. If you are interested in trying it out, we are currently in a closed beta stage. To check out the project or request an invite, visit our website Bitllama or drop us your e-mail at info@bitllama.com.

[Sniper76]

Invitation requested.

Good project !

Could you tell us on which exchange you do arbitrage, and on which market?

[Newar]

5 Jupiter House Calleva Park

Thought that address sounded familiar:

Bitstamp Ltd.

5 Jupiter House
Calleva Park, Aldermaston
Reading
Berkshire RG7 8NN
United Kingdom

[gordoh]

I would like to join and see what this is all about.

What is the minimum you can deposit?

[Bitllama]

Invitation requested.

Good project !

Could you tell us on which exchange you do arbitrage, and on which market?

Thanks! We'll be sending invites very soon - probably next week 

Markets we pick for arbitrage have a certain amount of volume and a good reputation (this means we only use the biggest and well known ones).
Arbitrage is currently performed using  BTC / LTC / USD but will expand to other cryptocurrencies after the beta testing phase.

[Bitllama]

I would like to join and see what this is all about.

What is the minimum you can deposit?

You can request an invite by visiting our website and dropping us your e-mail.
We'll send you an invite in a matter of 2 weeks.

Minimum deposit is currently at 0.2 BTC.

[TrekRider]

BEWARE, MANY were recently scammed by another "arbitrage" site that promised similar results.  Do your research before investing.

[botticelli]

some research:

"Bitllama Inc"... located in the UK... tell me:

1) How can your "collective investment scheme" be organized as an incorporation instead of a fund / trust under the The Financial Services and Markets Act 2000?
2) If your naming suffix "Inc" suggests the US business types S-corporate or C-corporate, how can you be registered in the UK?
3) Interestingly in your "Terms of Use" you use "Bitllama Ltd." ... the same corporate type as Bitstamp, which has the same address and the same Terms of Use ... copy paste?
4) But if you're really a Limited, registered in the UK and in the footer this is just a typo, why is there no entry on the Companies House website (UK's registrar of companies)?
5) ...

[Bitllama]

BEWARE, MANY were recently scammed by another "arbitrage" site that promised similar results.  Do your research before investing.

We're aware of websites that have promised risk-free gigantic profits of 1% a day using "arbitrage" and turned out to be scams. While anything, from forex to financial services and beauty products can be used as a cover for elaborate ponzi schemes, bitcoin services seem to be popular tool of choice for scammers. We therefore do understand your concerns fully but would still like to make a small comment.

We do not promise "similar results". Our profits are made 100% using arbitrage, which means they are not enormous (2-6% a month) nor are they risk-free. There is no such thing as a free lunch and even when fully profitable, arbitrage still carries its own risks - btw we cover most of them on the website's "risk warning" section.
 
We also do not run an affiliate / referral system - the way pyramid schemes usually operate and grow to pay out profits to the first tier users.

If it helps - in order to give our customers some idea and sense of control about what goes on under the hood of the platform, we also provide a dashboard interface that shows real time data on the amounts of LTC, BTC and USD currently in arbitrage at all times.
 

[rz20]

Another btc-arbs joining the club... be aware guys in 2 months or less you will get goxed. Mysteriously some hacker will crack their wallets and steal the funds.

[Xch4ng3]

some research:

"Bitllama Inc"... located in the UK... tell me:

1) How can your "collective investment scheme" be organized as an incorporation instead of a fund / trust under the The Financial Services and Markets Act 2000?
2) If your naming suffix "Inc" suggests the US business types S-corporate or C-corporate, how can you be registered in the UK?
3) Interestingly in your "Terms of Use" you use "Bitllama Ltd." ... the same corporate type as Bitstamp, which has the same address and the same Terms of Use ... copy paste?
4) But if you're really a Limited, registered in the UK and in the footer this is just a typo, why is there no entry on the Companies House website (UK's registrar of companies)?
5) ...

@UK PLC Head office
5 Jupiter House,
Calleva Park,
Aldermaston,
Reading,
Berkshire,
RG7 8NN
United Kingdom

The address you claim to be yours also belongs to UK PLC, a company that specialises in setting up companies. IANAL, but AFAIK even if this company did register on your behalf, you need to have your own address and point of contact if your based in the UK. I also doubt a company would allow their clients to use their address. Still, I've contact UK PLC to confirm if your affiliated with them, will post back if I get a response.

Could you clarify?

[Bitllama]

some research:

"Bitllama Inc"... located in the UK... tell me:

1) How can your "collective investment scheme" be organized as an incorporation instead of a fund / trust under the The Financial Services and Markets Act 2000?
2) If your naming suffix "Inc" suggests the US business types S-corporate or C-corporate, how can you be registered in the UK?
3) Interestingly in your "Terms of Use" you use "Bitllama Ltd." ... the same corporate type as Bitstamp, which has the same address and the same Terms of Use ... copy paste?
4) But if you're really a Limited, registered in the UK and in the footer this is just a typo, why is there no entry on the Companies House website (UK's registrar of companies)?
5) ...

Hello Botticelli,

we are currently still in the process of registering the company as we had to sort out all sorts of legal, accounting and tax issues. We expect to sort it out sometime this or in the beginning of the next month. We are most likely going to use the company in the UK that Bitstamp used to register their services - this is why the same address.

Apologies for the .inc in the footer - you almost guessed it - not a typo but a placeholder text for footer we used during development. We'll fix it asap.

As sceptics ourselves, we completely understand your concerns, hopefully you'll be kind enough to check with us in few weeks when we're all sorted out legally and typo free - maybe even give the platform a try

Cheers!

[johny08]

registered and waiting for invitation. keep up!

[Bitllama]

Hey guys!

Just letting you know that we're sending out beta invites this week, so if you want one just drop us your e-mail at Bitllama.com

[joesmoe2012]

I sent you an email and would be interested in giving this a test shot.

[Sniper76]

Beta invite received !

Registration processed, and deposit done.

Waiting for profit

[taaku]

can you please send me a invite...

i can put 1 BTC

[Bitllama]

can you please send me a invite...

i can put 1 BTC

Invite sent

[Sniper76]

As beta tester of your project, i can say that more transparency will be great and will help your project to grow.

[joesmoe2012]

As beta tester of your project, i can say that more transparency will be great and will help your project to grow.

agreed