Author Topic: [LTCGear] legit discussion  (Read 608748 times)

Offline GreenTeaFloat

  • Jr. Member
  • **
  • Posts: 168
Re: [LTCGear] legit discussion
« Reply #3375 on: August 09, 2015, 05:13:28 PM »
Is there another more current thread,  no one has posted here for a month? Or is this whole LTCGEAR finally laid to rest?

Offline Noogens

  • Sr. Member
  • ****
  • Posts: 654
  • Grumpy-Cat prefers Deathmetal
Re: [LTCGear] legit discussion
« Reply #3376 on: August 09, 2015, 05:21:06 PM »
LOL, you haven't seen it ?
All the trolling now spread over a gazillion threads(at least).

Offline augustito

  • Jr. Member
  • **
  • Posts: 75
Re: [LTCGear] legit discussion
« Reply #3377 on: August 10, 2015, 07:11:18 AM »
anyone read this sh*t? http://ltcgear.com/my-account/qa/

Offline Totscha

  • Sr. Member
  • ****
  • Posts: 987
Re: [LTCGear] legit discussion
« Reply #3378 on: August 10, 2015, 07:27:10 AM »
anyone read this sh*t? http://ltcgear.com/my-account/qa/

Yeah, typical Chris. Ignored all the hard questions...

Offline muzzyshop

  • Jr. Member
  • **
  • Posts: 181
  • http://gigsme.com/
Re: [LTCGear] legit discussion
« Reply #3379 on: August 10, 2015, 10:37:17 PM »
JUST LOOL. Where are the answers to real questions
« Last Edit: August 11, 2015, 01:44:13 PM by muzzyshop »

Offline andrebrito88

  • Jr. Member
  • **
  • Posts: 33
Re: [LTCGear] legit discussion
« Reply #3380 on: August 12, 2015, 08:40:48 AM »
He is going to rob the shipping fee too !


Offline jstefanop

  • Sr. Member
  • ****
  • Posts: 558
Re: [LTCGear] legit discussion
« Reply #3381 on: August 12, 2015, 11:03:06 PM »
Are people seriously paying for all this supposed hardware?? I have yet to see a pic of a real farm/hardware where all this supposed mining was going on for LTCGear

Offline seanmcevers

  • Full Member
  • ***
  • Posts: 413
  • Trust is earned
Re: [LTCGear] legit discussion
« Reply #3382 on: August 13, 2015, 04:04:37 PM »
It would be cool if everyone spoke /wrote in just a couple key threads about LTCGear.  I haven't converted or anything yet I really do not know what to do.   I do know I'm not going to send Chris/Beekeeper of LTCGear any money ever again.   I'm not paying a fee to get something I should have been paid months ago without hassle.   I also will not be paying shipping costs if anything he should cover my shipping he owe's me quite a bit.   Also the most recent Q/A answers there is only one question I want answered (where are the coins I am owed).     I did read on here that someone was doing a class action for some people on here.   I sure wish things didn't happen the way they did my life would be completely different.  I may not have been happier but I certainly would have had more money for life. 

Offline CrazyLoaf

  • Full Member
  • ***
  • Posts: 291
Re: [LTCGear] legit discussion
« Reply #3383 on: August 16, 2015, 05:33:09 AM »
It would be cool if everyone spoke /wrote in just a couple key threads about LTCGear.  I haven't converted or anything yet I really do not know what to do.   I do know I'm not going to send Chris/Beekeeper of LTCGear any money ever again.   I'm not paying a fee to get something I should have been paid months ago without hassle.   I also will not be paying shipping costs if anything he should cover my shipping he owe's me quite a bit.   Also the most recent Q/A answers there is only one question I want answered (where are the coins I am owed).     I did read on here that someone was doing a class action for some people on here.   I sure wish things didn't happen the way they did my life would be completely different.  I may not have been happier but I certainly would have had more money for life.

This is the only thread you need:

It's BEE-Day!


(Now where's BEE?)


They surrounded me like bees; They were extinguished as a fire of thorns; In the name of the BEEKEEPER I will surely cut them off.
- Psalms 118:12 -

Offline AI

  • Jr. Member
  • **
  • Posts: 35
Re: LTCGear legit discussion
« Reply #3384 on: September 24, 2015, 02:16:45 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.

indeed?

Offline AI

  • Jr. Member
  • **
  • Posts: 35
Re: LTCGear legit discussion
« Reply #3385 on: September 24, 2015, 03:11:04 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.

are you sure GAW and zeus are legit? I woukdn't bet my savings on this lol, and you are really working on a dayly basis with ponzis? Are you related to scamtos from scrypt cc?

Offline cryptoblog

  • Jr. Member
  • **
  • Posts: 197
    • Audiocoin
Re: [LTCGear] legit discussion
« Reply #3386 on: December 07, 2015, 11:25:00 AM »
I hope Chris comes through. This situation doesn't match the majority of scams I've seen, so it's hard to tell what is going on. I'm going to share an idea that's been forming for the past month. I have a theory about what may have happened with Chris and his operation. I'm basing this theory on some things we know, and some that we can assume. This is only a theory, so please don't get fired up one way or the other. All time frames noted are approximate.

**Late 2013/Early 2014**
* Chris starts his operation with good intentions. Mining hardware sold well and gained trust of the community. Then cloud mining started. Mining is paying well, and shareholders are getting ROI. 

**Summer**
* Qasic shares are now being sold. Mining operation is moving along very well.
* Chris starts plans for Gen2 project.
* Chris had a good operation going into the fall. Mining was paying well and he was able to meet obligations.

**Late August**
* Anniversary Sale begins. With it, he can pay for the Gen2 project, cover share multiplication, and provide a payout buffer for the increase in shareholders.

**Late September**
* Chris sees that difficulty is increasing fast and will soon be unprofitable and too expensive for him to continue. He had been working on Gen2 plans and knew he needed capital to pay for it.
*Chris knows that he does not have the hashing power to compensate for the increasing numbers, but gambles that Gen2 will save the operation. He can payout with present mining returns (including his own profit), and use the payout buffer from new orders. He worries that there will be at least a few weeks where the operation will run short on coin to make all payouts. Maybe another sale during the holiday shopping season will help?

**Late November**
* Anniversary sale went so well that Chris decides to have a Black Friday sale. He needs to cover more payouts and buy time. That will increase the payout buffer and he can buy more Gen2 wafers. Word has spread about his operation and he gets slammed with orders. Much more than he can cover.
* Chris did not plan on getting so many new shareholders and his Gen2 order will not come close to covering all of the hash rate he must have. Even though he received a huge amount of BTC for the shares, he discounted them too heavily and starts to realize that he will not be able to pay everyone. He must put in a 2nd order for Gen2 chips.

**Early December**
* Chris needs to raise more money for the additional Gen2 chip order. He announces the Gen2 project and starts pre-selling Gen2 shares.
* Chris begins shorting payments, converting payouts to shares for people who didn't ask for it, delaying payments, and only paying a certain number of people. There are just too many shareholders now. He hopes he can hold things off until the Gen2 chips are complete and he will be able to handle the increased load of shareholders. Until then, he keeps communication to a minimum and comes up with reasons why payments are late.

**Mid-Late December**
* Chris needs to raise more money. He puts up a brief 49% off sale.
* Shareholders get fed up with waiting. Some doxx Chris, others try to hack his systems to find out what is really going on. In a way, these people give him the perfect story as to way payments have to be halted. He can use it to buy time until the Gen2 project is online.

**Late December/Early January**
* Shareholders notice that their payment addresses have all been changed to a single address. Chris states the system has been hacked and payments must be halted. People check the rogue address and find that it has not received any payments. If Chris was actually sending payments, wouldn't some of them end up in the rogue address? Chris says that he is changing the system to "pay on demand" which will require a full reworking of the site.
* Chris shuts down payments and claims that the user database is corrupt. He tells us that the database must be gone through to weed out errors and hacked info. This will buy more time. He must keep everyone at bay until all of the Gen2 chips are finished and online. He begins making "changes and upgrades" to the website. No real security upgrades, but some changes in wording, new ways of displaying balances, etc. His farm has been mining all of this time, but it is not making remotely enough coin to pay the mass number of shareholders. Chris chooses to hold some and trade some. Hoping that he can win some trades and build the balance up to cover what is owed to shareholders. Chris finds out the additional Gen2 chips won't be ready until Mid February. As we've all learned from buying asic miners (BFL, KNC, HF, etc), fabrication factories have tight production schedules. If he was told mid January, he would have boxes of chips in mid January. If he added a second order to keep up with more shareholders, he would have to wait in line for the next open time slot. It looks like that time slot is early to mid February.

**Mid January**
* Chris provides a special announcement. We've all read what it says. He claims that his site had been through an ongoing attack for over a month. No mention of any coins being stolen directly from his mining operation. He claims that people somehow hacked payments and rerouted them to other addresses, created an unknown number of fake shares, and scrambled his database.
* Chris calculates how much he owes shareholders, how many coins he holds, how much he is bringing in weekly, and how much the Gen2 chips will bring in once they are all put online. He knows that it will come up short in the beginning. He needs to find a way to reduce what he owes everyone by 25-40%. This will give him the breathing room he needs to get up to speed. He decides to add the maintenance fee to everyone's account. Though he said that our purchase covered hosting for one year, he knows everyone will accept it just to get some kind of payout. Plus, it will encourage some people to give up their accounts rather than pay the fee. That will help him get back to square one. Now he must wait for the Gen2 chips. He may start paying some people here and there and claim he is working bugs out of the pay on demand system. He can afford to do that. What he can't afford to do is pay everyone now. He must buy time until all of the Gen2 chips are ready. 


The good news... if my theory is correct, we will get paid eventually. The bad news.... we may take a hit on what he owes us (and he hasn't been honest with us). Many people start ventures with the best of intentions. Sometimes they gamble on an idea and it pays out gloriously. Other times they fail or stumble, then must find a way to get back to square one. I truly hope Chris gets back to square one and we all profit from this venture.  :)

@theword - was interested in this theory when you posted it. Do you have an updated version? Looks like gen2 is scrapped and more delays. Looking more and more like a trading scenario.

Offline cryptoblog

  • Jr. Member
  • **
  • Posts: 197
    • Audiocoin
Re: [LTCGear] legit discussion
« Reply #3387 on: December 23, 2015, 08:33:53 AM »
Some of the addresses that were associated with 'the hack' back in Dec 2014 have continued trading large amounts of BTC.
I think it was determined that the 1FsV address was a BTC-e hot wallet. Any clues about the others with the historical data?

https://blockchain.info/address/1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL
https://blockchain.info/address/3EnN2p5dqqefxNazkJjFS5ATyXca8M2tnk
https://blockchain.info/address/1AeFq5RbXiY1vsRqZjcF7fVodCxXwmDcMX

Offline boy2k

  • Full Member
  • ***
  • Posts: 257
Re: [LTCGear] legit discussion
« Reply #3388 on: December 24, 2015, 12:51:02 PM »
Some of the addresses that were associated with 'the hack' back in Dec 2014 have continued trading large amounts of BTC.
I think it was determined that the 1FsV address was a BTC-e hot wallet. Any clues about the others with the historical data?

https://blockchain.info/address/1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL
https://blockchain.info/address/3EnN2p5dqqefxNazkJjFS5ATyXca8M2tnk
https://blockchain.info/address/1AeFq5RbXiY1vsRqZjcF7fVodCxXwmDcMX

walletexplorer shows 1st and 3rd as BTCe wallets.

Offline sky_g

  • Sr. Member
  • ****
  • Posts: 647
Re: [LTCGear] legit discussion
« Reply #3389 on: December 24, 2015, 12:59:37 PM »
Some of the addresses that were associated with 'the hack' back in Dec 2014 have continued trading large amounts of BTC.
I think it was determined that the 1FsV address was a BTC-e hot wallet. Any clues about the others with the historical data?

https://blockchain.info/address/1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL
https://blockchain.info/address/3EnN2p5dqqefxNazkJjFS5ATyXca8M2tnk
https://blockchain.info/address/1AeFq5RbXiY1vsRqZjcF7fVodCxXwmDcMX

walletexplorer shows 1st and 3rd as BTCe wallets.

You still think Hack theory is true ?