According to latest youtube video questions and answers, and based on the deleted messages on telegram chat people voiced their concerns on how arb platform pay its members now seems disturbing. The way arbitraging.co pay its members investors now are based on the new investors money. You will see the block clearly indicated so. So there is not really an arbitraging bot for arb after all? probably not.
Also according to telegram chat group of arbitraging.co arb official chat room, a lot of supporters and admins responded to many people whom complaint about how bad arb platform is now, to get out and take their money somewhere else, but how? How can investors or users get their money out of arb platform? once you put money into arb it is next to impossible to get the whole amount back out, you would loose at least 4% in fees and more fees on trading and withdrawal to eth, and furthermore it’s next to impossible to sell all your tokens in the arb platform. Coinexchange arb price going down to pennies soon based on its performance lately.
A question was asked on the latest video about why the payout now is based on new arb buyer now as it seems based on the block showing left sell and right sell; meaning new investors buying arb with eth on the right side of the block, and that money will pay the older investors on the left side of the block (sell arb). It’s very clear now as it is like that now, so where’s arbitraging bot? – that’s a big question, were there ever arbitraging bot? we don’t know but most likely not a bot but the owner operators themselves took your coins and invest it manually themselves and hope for a win; but the answer given from the man name David Peterson CEO of arb he said “it doesn’t have to be that way …” he want to build an ecosystem that can last long time, but to me – isn’t that how ponzi scheme scam work? taking money from the new investors and pay the older investors and when one day no new money flowing in the whole platform will collapsed and go bye bye? it could be that they’re doing this on purpose and let the ecosystem try to sustain itself while the owner collecting all kind of fees in addition to previous investments. It’s the same concept of ponzi scheme scam but with a twist to make people believe in it because it may work and may not.
Arbitraging.co is now similar to investbox that yobit.net is running, but yobit.net investbox has a lot more people and investors playing around with it and yobit.net investbox lasted long time and they’re still doing it, and still people keep going into it and invest with from 0.3% to 10% daily profit. I have made some good profit with yobit.net investbox which is the same thing what arbitraging.co is doing now excet yobit.net investbox is pretty much automatic, just that not too many people know about investbox from yobit.net, they will keep running it until one day no new investors and no one able to sell their investments since the price so low and eventually it died and for yobit.net they took the coins offline and introduced new coins and start again and again forever if they want.
In the case for arbitraging.co taking yobit.net investbox concept, arbitraging.co create this new ecosystem and let it try to sustain itselves, it will keep running with buy and sell orders, price will go up and down depend on how many people interested in investing and selling, if no buyer then the other side price go down and sell or buy could be a loss or a gain. It’s the same concept as yobit.net investbox which has been running for years and its pretty much automatic from yobit.net investbox, not like current arbitraging.co arb platform you would have to monitor and wait to click and it never got through, and arbitraging.co charged you arm and leg for fees to get your order automatically triggered which is ridiculous since yobit.net investbox don’t even charge anything extra like that or as high as arbitraging.co Seems like arbitraging.co blocks method is something reinvented when yobit.net investbox already been around for years.
So look like arbitraging.co block method appears to be a subset of what yobit.net investbox been doing for years and they’re still at it, some people win some people loss. You win, someone have to loose, it’s like gambling, the owner just collecting fees and hold your coins, and from the look of it, it could last forever like yobit.net concept of investbox.