Topic: leaked video explained the recent pump of litecoin (Read 12953 times)

funny thing is no matter how many ways it is spelt to you guys, this so called 'ponzi' group had little to do with any of the recent ltc rallies.

If you haven't seen this yet, it's worth a look:

http://shitco.in/2015/07/25/the-wuestenrote-wusitanluo-ltc-ponzi-was-crushed/

"If you want another pump again, it will not happen until close to the next BTC block halving.  However, I see it still unlikely then."

seemed to happen today? I suspect they may be back in business..........

I did some analysis of the LTC blockchain on my thread:
https://bitcointalksearch.org/topic/m.11919684

I think the interest rate was 0.9 - 1.25%/day.  Investors bought in with blocks of 500 LTC.  Payments stopped on July 15.  No evidence that the LTC has moved to exchanges (though I'd love if someone could verify this).  Lots of investors increased their investment size after receiving payments.

Can anyone who speaks Chinese give us the gist of the article and comments. Google translate is pretty spotty.

The most I could make out is it seems someone from the group or company was trying to assure investors that they didn't expect the crash and not to worry they are still on track to recoup their profits but it might take longer? Reading the comments I could sense most people thought they had been cheated or it was a fraud and reported to the authorities already?

How do you figure?  The "pump" already occurred.  The pump was all about dumping to make FIAT [USD, CHY, EUR, etc...].  The one's who pumped it know there are many who are eager to dump for similar gains or to reduce losses.

Unfortunately, most of the world still revolves around FIAT and not crypto.  Most of the people who invested in LTC wanted to dump for gains around $10.00 USD.  Unfortunately, for them, other whales knew this and dumped at $8.00 USD.  They paused the dump several times on the way down to make people think it had stopped to get sufficient buy orders in place to dump into again and again and again.  It was a brilliant plan.

These whales know they would meet a lot of resistance on the way up if they were to pump it again.  LTC is not adopted for wide use the way BTC is.  I can actually pay my Dish Network bill with BTC but one cannot do this with LTC.  I don't know that LTC will ever get adopted by retailers the way BTC has thus far.

If you want another pump again, it will not happen until close to the next BTC block halving.  However, I see it still unlikely then.  I could be wrong, but this pump and dump has left quite a stain on the hearts and minds of many who were broken by this latest pump and dump scheme.  I actually made out good [on the up side] myself.  However, I know of many who got burned quite badly.

thanks for sharing.
Reading through the comments is really funny.

the best comment until now is this picture with the title "Three criminals"
http://8btc.com/data/attachment/forum/201507/23/001433hh4fa1eb217ax5z4.jpg

Since this was a dump, and pretty much people got on train(if these news are real) at low prices, we can expect a pump.imo

they have an update:

http://8btc.com/thread-20877-1-1.html

at least we know they haven't run away with the loot

It looks like the last payments were on July 15.  So July 15/16 LTC fell from $4.80 to $3.20.

I'm surprised it didn't fall further.  I guess the ponzi operator hasn't cashed out (they still have 400k at their largest address).

For sure litecoin was pumped heavily. Along with many other altcoins. Do you have a youtube link for this video? With english translation maybe? Would be nice.

why? Because a bullet in the face sounds the same in any language...CCP does not fuck around. period.

looks like they were promising a 3x over the 500 ltc investment through a stream of daily dividend between 3 and 5 ltc per day

it also looks like they are gone, vaporized, ponzi is over

Thanks to everybody

I'd like to know the yield, or return promised. Frequency of payback, interest rate, and so on. Should be there looking at the pictures.

It's also possible they are trying to buy back what they sold along the way till the top. they must have been a plan to keep the ponzi going, maybe this is just part of it, but I doubt it, looks to me it's over for them.

also

http://8btc.com/thread-20646-1-1.html

http://8btc.com/thread-20676-2-1.html

are two more threads related to the scam. google translator provides a very bad translation, so it's not clear, but from the comments it sounds like they are gone with the money. aren't they?
people not receiving payments and trying to arrange a lawsuit.

final consideration, chinese exchanges must have known what was going on here. Huobi first, but I believe okcoin and btcchina too.
is it possible that this scam hit bitcointalk only on the 9th while the same day coblee was once again still getting the trollbox monkeys excited at btc-e about ltc spectacular rise??

Yes, think about it from this angle. If they did happen to double or even triple the money and can begin paying everyone back, it will only fuel a larger pump on the next phase. If people were investing 500 LTC each back when it was $2, there has been plenty of opportunity to sell back at a profit. It will be even bigger now as all the successful investors will word-of-mouth this "amazing investment opportunity" (the scheme) to family and friends thus recharging the scheme for an even greater run. After all, if the test run was such a success, why walk away from all that profit potential now?

They are probably buying back in now that the price is much lower.. Maybe this was their plan all along to be able to pay the promised returns.

what do you want to know, that page has various banners and articles about various aspects of litecoin and cryptocurrencies.

down near the bottoms theres stuff on some kinda scheme where you pay 500 ltc and get interest each day (they analogize it as  some kinda of mining machine), and you can get others in and get more, various levels where you earn more etc, its certainly clear on telling your returns but nothing on how they get your returns (go figure), also says its by a german company.

the entire presentation of the ponzi:

http://8btc.com/thread-20457-1-1.html

any chinese that can report the whole thing in english?

well its over now! LTC is on a freight train back to sub $2 usd levels