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Re: https://bitdaytrade.com Bitcoin Gold & Commodities margin trading
by
bitcoinBull
on 21/08/2012, 06:04:30 UTC
The people on reddit who are claiming 4k was stolen are all sockpuppets smearing FUD.  It looks to me like the other Kronos guys who share responsibility for being hacked are trying to push all of the blame onto Alberto to make themselves look less guilty.

Im starting to agree with this.

The linked pastie and JRO's post confirms thousands of BTC were stolen from Kronos' mtgox account (nowhere clearly stated exactly how much). Charlie of BitInstant confirms that Alberto is jjfarren aka bitscalper, an estimated 1000 BTC scam.


Not even surprised. Expect anything from this site.

They claim to hedge trades on instaforex, but that's a lie since instaforex doesn't provide an API for their customers. Its a crude bucket shop.

Take it lightly, as said, we're in beta and some issues are still being worked out, moreover we're adding bitcoin margin trading to the offer, with realtime hedging on mtgox. As per Instaforex, they do provide an API, and it's used for gold quotes, for actual hedging we use a custom tool developed to work with our preferred trading platform.

I don't believe that bitdaytrade hedged any gold trades, maybe Alberto did some manually but certainly not automatically. I don't think he has the skill to create a "custom tool" that actually hedges gold trades (he claimed to use Instaforex, then backpedaled and claimed trades are hedged on a "preferred trading platform"). Who knows whether bitcoin trades are hedged on mtgox.

I suspect that Alberto creates crude (buggy and insecure) front-end scam-sites, which don't function as advertised. If anyone who has the bitscalper code (from here MiningBuddy, Chaang Noi (Goat), teek) will share it with me, I'd like to take a look at its arbitrage capabilities. Even though MNW said that Alberto had someone else write the bitscalper arbitrage bot (who?), to whatever extent it had one. (I'm late to the bitscalper threads, didn't follow them at the time).