I'm pretty sure it was.

I think that months ago (somewhere around page 90 maybe?) I outlined a few things that a legitimate arbitrage system would not do, and they contradicted a few of those things.
I did bitcoin arbitrage as a professional source of full-time income for a while, but have let my system go dormant recently because I used that system as a demonstration to get my current day job, which is a great job. People are free to take my comments with a grain of salt if they wish; there are very few "professionals" who arbitrage, especially in bitcoin. The people who lost money here deserve much better than they've been given, and it costs me nothing to offer bits of experience and caution.

If people are actually interested in investing in arbitrage, I can update and revive my system, starting around late December and start accepting investments if the logistics can be worked out and the profit is high enough I satisfy customers. Currently, I'm the only arbitrager I know of who hasn't scammed or lost other people's money.

Don't expect 1% daily profits though, it's just not realistic. I can have very open books so people can see their money at work, and I'd post realistic profit expectations. I have nothing to hide, the math speaks for itself.