Author Topic: [LTCGear] legit discussion  (Read 585202 times)

Offline Sy

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Re: LTCGear legit discussion
« Reply #30 on: October 06, 2014, 09:06:25 PM »
You're right that going out of stock is very non-ponzi like, but he has never been out of stock for more than a day or 2.

You guys can do the math, there is no way there is this much hash power. We're talking massive scale warehouse, which most likely doesn't exist. The power alone could probably power a small city.

The thing you guys don't realize is while you think you may have ROI'd (sy yours is coming in 2 weeks), you really havn't unless you've cashed out and its in your bank account.

I guarantee you most people have not ROI'd because most people have been re-investing. On paper you guys have ROI'd but I'm dreading the day most people stop re-investing and decide to cashout =/

One way you guys can see this for yourself is to make a spreadsheet and have users submit how many shares they have and whether or not they have re-invested. You'll be shocked to see 95+ % have not cashed out and have been re-investing. Why would you cash out with such high payouts?

This is only partly true, the shop has been out of stock for quite a while until 3-4 weeks ago when chris started to cancle unpaid orders...but you are right about ROI, if you always reinvest you never reach it and just chase a dream BUT and that's another thing i find odd if you look at it from the ponzi angel, he does pay out every week, all the others just credit your account making it easier to reinvest and making it possible to not own the funds in the first place.

I am not swearing this is legit, no one can tell for sure than Chris but the only red flag i got is amount and power consumption, it is doable with enough preparations, money and know how which Chris should have...but its still hard and would probably fill more than one data center at around 1mw total consumption (assumed number based on known products)

Awww dang now i took the thread into the legit discussion myself, shit xD

Ah and yes, i don't reinvest straight ahead, i am currently at 50% ROI on paper and around 30% in wallet xD

Offline Sy

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Re: LTCGear legit discussion
« Reply #31 on: October 06, 2014, 09:08:39 PM »
Volume is impossible to track due to the fact that unfulfilled orders still increment, orders were locked to single units for awhile but that isn't the case any longer. I have several orders that I forgot to add the coupon to or didn't get coin through in time.

Sep 2nd - 4388

Sep 16th - 5150

Sep 19th - 5459

Oct 2nd - 6791

The mining facilities are definitely chewing through some power, that is for sure!

There was a spreadsheet floating around, had it broken through 100GH yet? I think Sy put it together actually.

The spreadsheet is at 83.84 GHs - @everyone feel free to pm me more numbers :)

Offline marcellogreen

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Re: LTCGear legit discussion
« Reply #32 on: October 06, 2014, 09:12:36 PM »
You're right that going out of stock is very non-ponzi like, but he has never been out of stock for more than a day or 2.

You guys can do the math, there is no way there is this much hash power. We're talking massive scale warehouse, which most likely doesn't exist. The power alone could probably power a small city.

The thing you guys don't realize is while you think you may have ROI'd (sy yours is coming in 2 weeks), you really havn't unless you've cashed out and its in your bank account.

I guarantee you most people have not ROI'd because most people have been re-investing. On paper you guys have ROI'd but I'm dreading the day most people stop re-investing and decide to cashout =/

One way you guys can see this for yourself is to make a spreadsheet and have users submit how many shares they have and whether or not they have re-invested. You'll be shocked to see 95+ % have not cashed out and have been re-investing. Why would you cash out with such high payouts?

This is only partly true, the shop has been out of stock for quite a while until 3-4 weeks ago when chris started to cancle unpaid orders...but you are right about ROI, if you always reinvest you never reach it and just chase a dream BUT and that's another thing i find odd if you look at it from the ponzi angel, he does pay out every week, all the others just credit your account making it easier to reinvest and making it possible to not own the funds in the first place.

I am not swearing this is legit, no one can tell for sure than Chris but the only red flag i got is amount and power consumption, it is doable with enough preparations, money and know how which Chris should have...but its still hard and would probably fill more than one data center at around 1mw total consumption (assumed number based on known products)

Awww dang now i took the thread into the legit discussion myself, shit xD

Ah and yes, i don't reinvest straight ahead, i am currently at 50% ROI on paper and around 30% in wallet xD

I can tell you're a lot smarter than most people on here, so I'm not worried about you.

But the majority of people, and when I say majority, I'd estimate somewhere close to 90%+ are fully re-investing.

Its no coincidence that the anniversary coupon came out around the time he needed more money.

Here's another thing to look for in the near future. Another very sweet deal is coming, I guarantee you it (on par or better than the anniversary coupon). The only way these schemes work is if more money, and more importantly new money comes in.

Offline Kim Jong-un

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Re: LTCGear legit discussion
« Reply #33 on: October 06, 2014, 09:14:55 PM »
please go to  the other thread with this

Offline Sy

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Re: LTCGear legit discussion
« Reply #34 on: October 06, 2014, 09:30:08 PM »
please go to  the other thread with this

Yep, my bad  ::) i've split them off
« Last Edit: October 06, 2014, 09:36:35 PM by Sy »

Offline kitano

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Re: LTCGear legit discussion
« Reply #35 on: October 06, 2014, 09:49:09 PM »
I noticed that now are available (sometimes) only the 1600 and 830 qAsics shares packages and the dual mods M10 that are the most expensive in the shop. In the past were available also the small shares packages and the small modifiers. From a commercial point of view the small investors are cut off.

Offline organizer

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Re: LTCGear legit discussion
« Reply #36 on: October 06, 2014, 09:55:53 PM »
Sy feel free to delete my last post there (it's below... i must have been typing as you were dropping the hammer):

One way you guys can see this for yourself is to make a spreadsheet and have users submit how many shares they have and whether or not they have re-invested. You'll be shocked to see 95+ % have not cashed out and have been re-investing. Why would you cash out with such high payouts?

Constant reinvestment is not unique to LTC Gear... or Hashlets... it's just that we've entered a more "convienient" world of mining where earlier this year it was Zeus and before that Gridseeds. I had pretty much stopped mining early Spring with the exception of some tinkering on the x11, etc. coins. I had a buddy though who had probably a similar amount of BTC saved up... but kept dumping it into Gridseeds... of course he's no longer mining... and again, how do the people who were buying $600 280xs feel?

Addiction to constantly wanting MORE hashing power isn't new.. you need a realistic plan based on where you start and stick to it. Period. I know i've even pulled the trigger and bought "just one more"... but at some point you either realize it's happening or you don't and you're out of the game.


Offline Sukarti

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Re: LTCGear legit discussion
« Reply #37 on: October 06, 2014, 10:14:50 PM »

I can tell you're a lot smarter than most people on here, so I'm not worried about you.

But the majority of people, and when I say majority, I'd estimate somewhere close to 90%+ are fully re-investing.

Its no coincidence that the anniversary coupon came out around the time he needed more money.

Here's another thing to look for in the near future. Another very sweet deal is coming, I guarantee you it (on par or better than the anniversary coupon). The only way these schemes work is if more money, and more importantly new money comes in.

You can guarantee a new better deal is coming, welcome to mining. Nothing new there. Gridseed, Zeus, Gaw all offer cheaper mining now than they did months ago. Why would LTCGear be different?

A majority of the people I have spoken with have already made full ROI with LTCGear, that's coin in their wallet or cash in their bank, not a single one is fully reinvesting. Most of these guys have been around for at least 30 days though. No idea what the swarm from Gaw are using for an investment strategy.

Enjoy sitting on the sidelines, I'll keep on enjoying my payouts.

Offline Sukarti

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Re: LTCGear legit discussion
« Reply #38 on: October 06, 2014, 10:16:16 PM »
I noticed that now are available (sometimes) only the 1600 and 830 qAsics shares packages and the dual mods M10 that are the most expensive in the shop. In the past were available also the small shares packages and the small modifiers. From a commercial point of view the small investors are cut off.

There's half a dozen people selling shares for the smaller investors. So they aren't really cutoff.

Offline kitano

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Re: LTCGear legit discussion
« Reply #39 on: October 06, 2014, 10:24:58 PM »
I'm glad for them. The commercial strategy of Chris is changed in the last  three months: only the most expensive items are available in the shop.

Offline Sukarti

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Re: LTCGear legit discussion
« Reply #40 on: October 07, 2014, 02:29:33 AM »
I'm glad for them. The commercial strategy of Chris is changed in the last  three months: only the most expensive items are available in the shop.

The other items aren't really competitive $/mh and he has left the "historical" items in the shop for whatever reason. it is interesting to watch the $/mh progression of the past 9 months though.

Perhaps in the next revision he'll include a smaller shares pack at a similar $/mh. It is more hassle dealing with lots of little customers, especially the huge influx from Gaw the past 2 weeks.

Offline artilectinc

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Re: LTCGear legit discussion
« Reply #41 on: October 07, 2014, 02:35:14 AM »
I'm glad for them. The commercial strategy of Chris is changed in the last  three months: only the most expensive items are available in the shop.

The other items aren't really competitive $/mh and he has left the "historical" items in the shop for whatever reason. it is interesting to watch the $/mh progression of the past 9 months though.

Perhaps in the next revision he'll include a smaller shares pack at a similar $/mh. It is more hassle dealing with lots of little customers, especially the huge influx from Gaw the past 2 weeks.

Having the other products in the shop is somewhat a good thing.  It shows his relatively long term production.  Although it would be nice if they were archived somewhere rather than having them actively displayed.  Maybe a discontinued category.

I agree smaller packs means more work in managing them all, it requires more automation.  But I remember a year ago when we were paying $400 for 700Khs.  In 6 months 160MHs will be a small pack.  lol

Offline skuser

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Re: LTCGear legit discussion
« Reply #42 on: October 07, 2014, 09:48:51 AM »
Volume is impossible to track due to the fact that unfulfilled orders still increment, orders were locked to single units for awhile but that isn't the case any longer. I have several orders that I forgot to add the coupon to or didn't get coin through in time.

Sep 2nd - 4388

Sep 16th - 5150

Sep 19th - 5459

Oct 2nd - 6791

The mining facilities are definitely chewing through some power, that is for sure!

There was a spreadsheet floating around, had it broken through 100GH yet? I think Sy put it together actually.

The spreadsheet is at 83.84 GHs - @everyone feel free to pm me more numbers :)

Actually using these numbers and by compensating multipackage orders with failed orders using simple math calculation we will get to: 6791-4388=2403*160=385 GH/s...At 5W/MHs it would need 2Megawatts of power.

Anyway, if this is a ponzi, there are some good news also:
1. at current sales levels, let's say 100 orders/daily weekly income will be slightly higher than next weeks dividends for whole hashpower. So at least next weekend is covered.
2. weekly need of 77k Litecoins for dividends could actually support LTC price a bit

I jumped on the train at the end of August being happy I found anniversary "deal" and have already money back (in BTC terms of course) however the neverending working anniversary coupon plus unability of Chris to press a button on his phone to make a pic of the farm makes me a bit confused  :o

Offline cloudminer

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Re: LTCGear legit discussion
« Reply #43 on: October 07, 2014, 12:15:18 PM »
What is difficult to believe about the hash power?

KNC can deliver thousands of Titans (although shoddy and broken) and 100's of GH/S but someone else can't?

Mining gets cheaper, that's the nature of the business.

I suppose Gaw/Zeus are ponzi's as well?

Zeus/Terrry has reduced his prices month after month after month. His prices are higher than LTCGear but they're dropping month to month. They also started considerably after LTCGear was in the space.

Time will tell.

My lunch break is up so I gotta get back to work, but you're still missing the point.

You're right KNC can deliver, and you're right that their is a huge mark up in pricing and that mining does get cheaper.

Gaw and Zeus are most likely not a ponzi.

To make it brief I'll ask you this. Do you think most people with a cloud/hash service, like bee and others, are in this to make money, or are they in this to support the network? I'm assuming we have the same answer to this.

Now moving forward, why would a company that is in it to make profit, stay out of the spotlight with the best ROI and best pricing available? I'd say the majority of people on here didn't even know about LTCgear for a few + months after its been running. No advertising, nothing. If I had a product with the best ROI and pricing, I would corner the entire market at a time when there was nothing available (which was the case).

Its very easy to prove legitimacy, if you're in fact, legitimate.

You asked why a company that is for profit is not out in the spotlight - I thought perhaps because the owner is not a marketing guy and just simply lacks business development knowledge? 

It could be that the owner is great at developing his own mining ware and running a successful farm, but not strong in advertising or marketing.

No advertising, nothing, because the know-how is not there.

There are many businesses run by people with sophisticated product skills but weak marketing/PR skills.  LTCgear could just be one of them. 

If we're talking about hypothetical scenarios (like LTCgear being a ponzi), this could be one hypothetical scenario.

Offline AizenSou

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Re: LTCGear legit discussion
« Reply #44 on: October 07, 2014, 01:11:50 PM »
The only question i am asking myself is, if he is making money from this deal, how much money would he make just mining for himself...of course there is always funding which usually explains the sells.

It's all about risk mitigation.

If you could sell 50% of your farm and have 100% expenses recouped day 1, would you do it? No worries about price volatility, etc, everything coming in is profit.

The big anniversary sale didn't commence until shortly before he picked up batch 2 ASICs either. Perhaps he needed a good chunk of funding or didn't want to pay entirely out of his own pocket for his batch 2 chips.

Nicely written, thanks :)

Let's wait and see what the future holds, 2 more weeks for ROI!

Going out of stock is very not-ponzi btw, no marketing too ;D

I think he sold around 1k shares within the last weeks (more?) thats 160 ghs, while i say it isn't impossible to deploy them (especially with your own chip) you do need serious ressources to do so...and power!

Best chips run around 5w per MH, do the math. Chris has been solid so far but there is always doubt - welcome to crypto xD


You're right that going out of stock is very non-ponzi like, but he has never been out of stock for more than a day or 2.

You guys can do the math, there is no way there is this much hash power. We're talking massive scale warehouse, which most likely doesn't exist. The power alone could probably power a small city.

The thing you guys don't realize is while you think you may have ROI'd (sy yours is coming in 2 weeks), you really havn't unless you've cashed out and its in your bank account.

I guarantee you most people have not ROI'd because most people have been re-investing. On paper you guys have ROI'd but I'm dreading the day most people stop re-investing and decide to cashout =/

One way you guys can see this for yourself is to make a spreadsheet and have users submit how many shares they have and whether or not they have re-invested. You'll be shocked to see 95+ % have not cashed out and have been re-investing. Why would you cash out with such high payouts?

What is the difficult point of calculating ROI? You paid 10BTC for your shares and after 5,6 weeks you got 10BTC back to your wallet, that's what I call ROI. And according to my research a lot of people have had that point long time ago.

People who are greedy and reinvest, then it's their own fault if they never get their ROI. Of course every highly return investment has a quite high risk too, if not you will have a lot of rich people in this world. Simple.
If you don't like the service or don't believe in it, just don't invest your money. Your trolling just makes you look like you're from other competitors trying to bring Chris's business down, IMHO.