According to the official arb telegram group chat, admin had posted/pinned a message indicate that abot has been fully restored, investors can now move in and out of their abot and move to exchange to take profit, however investors are saying it is next to impossible to sell their arb to eth.
Look like the sell volumes is super high demand where people want to sell, if it is indeed true, obviously the backlog of selling is higher because arbitraging.co decided to shut down the abot profit prevent users moving it to exchange for the past couple days, but allowed buying of arb to increase the price or something we don’t really know exactly.
In addition to the selling issue, users/investors of arbitraging.co also ran into issue where they stopped abot at $7 a couple days ago and now the price is at $16 they want to get back into abot, but they couldn’t get back in with $16 current price, they can only enter back in at $7 where they left abot. In addition they get charges with fees and more fees to leave, and to move arb, and move back into abot. This only affect people who enter and exit abot recently. These people are so call trying to game the bot, trying to make more profit than their daily gain of consisten 0.5% daily or 20% or so monthly. Look like big argument between these folks and admins and others.
Many now think that arbitraging.co is preparing to exit scam since it’s been a year and they’re trying to work on a plan to limit the sell volume, in order to push the price up. The way arbitraging.co doing it currently is only have 9 blocks of boxes, each have buy and sell, however the past 3 days the sell are always red making it very hard for people to sell, you would have to literally looking at the screen and pray hope for a sell box to turn light green to get in. A couple days ago, some people were able to sell by looking at the screen constantly, however today it is next to impossible to do so, even if you look at the screen constantly for hours, since we don’t know how long each block go for and the sell red turn to light green at anytime and filled right away within milliseconds.
Some people now think that arbitraging.co making these new changes just to prevent sell volume and increased buy volume. In other word, arbitraging.co arb want more investors, thinking of any ways and ideas they can since many now believe that arbitraging.co has been loosing profit because of less investors coming in and the drop of cryptocurrencies bitcoin ethereum and others, their portfolio is looking for very small now and the volume of eth paying out is a lot higher now than when eth usd was high. Let say you invested 1eth at $300, and arb pay you via arb convert to eth, if the eth price stay consistent or go up then arb will survive long time make big profit. However if eth price drop, then arb would have to pay out a lot of arb convert to eth big qty. of eth will need to be paid, so basically you could get 1eth back within a month or less if price of eth dropped from $300 to $50, you can probably get your initial 1 eth investment back in a couple weeks if you save your eth, that’s your initial investment.
This is happening just like coingeneration and cointellect, these two platform ran for a few months back in 2012 2013 and few others in 2014, all collapsed with similar exit scam strategy. These platform cointellect had people actually running them showing up on facebook a lot more transparent than arbitraging.co cointellect people employees staff actually attended multiple conventions and even have display booth people represent cointellect. However cointellect started to have problem or so they say, they start to play game by making up reasons for not able to allow users to withdraw such as technical issue, such as hackers, such as ddos, such as put your earned profit to a different new plan that even yield higher profit, you name it, they tried it all. However what cointellect really did was tried to killed time so they can prepare the exit scam, such as withdrawing their money, limiting bank financial institution from claiming after 90 days and such. In the end cointellect disappeared and nothing anyone can do about it, because they ran the operation under anonymous or fake name, even with their pictures posted online but still nothing can be done, lots of people loss money with cointellect, coingeneration, and so on.