Quote from: dyask on March 10, 2014, 06:38:50 AM

Quote from: nanonano on February 28, 2014, 12:29:31 PM

Number one method of recognising scams: calculate the yearly profit percentage from the daily figures they use to confuse. If it sounds too good to be true, then it's too good to be true.

In this case, they advertise 0.1% to 10% daily profits (this should already be a massive warning sign: if you can make an insane 10% daily profit, then you are taking extreme risks and must have days of bad losses as well. These guys claim to only have profitable days). But let's estimate based on their reported profits for the month: they claim to have made about 1.8% profit per day on average. Maybe that sounds like it's possible, but calculate a yearly profit from that first: 100* (1.018^365 - 1) = 67287%

67287% -> SCAM

By the same reasoning BTC is a doomed bubble because it went up 7000% last year.

Seriously there are problems with your reasoning.
1) If they are real and successful the yields will drop. Probably even .1% will become very high at some point.
2) Arbitrage is a real trading method used by very big money in many different markets to get safe high yields. Clearly high is something less than 67287%. Still arbitrage can work if you have the resources to pull it off.

However just because your reasoning is flawed doesn't mean it isn't a scam. Clearly caution is warranted. There are many scams in the BTC world.

Didn't see this reply before... better reply late than never I guess.

My logic isn't faulty: No-one promised you a 7000% profit from bitcoins -- or if they did, they were scammers. The point isn't that massive profits are impossible or that arbitrage does not work, the point is that massive potential profits mean equally big risks. These guys claim no risk, zero. They seriously claim that every day is not only profitable, but very profitable.

As an addition to the original rule about recognising scams: Even if you start to believe these guys have found the holy grail (a risk-free high-profit investment), you should ask yourself the second question: Why on earth would they give the profits away to some small time internet investors? They could just invest their own money -- even taking a mortgage is no problem since it's totally risk-free

btc-arbs is a scam, there's no other explanation that passes Occams razor.

Quote from: precrime3 on March 17, 2014, 01:57:51 PM

I'll try it out, as I'm not a Newby (fairly recent, just hit 24 hours on forums xD) and see what happens.

Do you happen to need any bridges? I have several really good ones on sale.

nanonano

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