Topic: leaked video explained the recent pump of litecoin - page 2. (Read 12896 times)

the picture showing the scheme doesn't say much. people hvae to buy ltc through huobi, move them to the company, which will give back ltc into an individual account at

https://qianbao.qukuai.com

from there they can go and cash them back at huobi

nothing about yields, and expected time to get them.

I've got the video reviewed by a friend who speaks chinese, the translation posted here is correct, the last sentence

he actually says 20k, not 200, which is the number close to what we know: 9m ltc. we can infer from the number that it's also a video made in July probably between the 6th or 8th of July when he was getting close to 20k bookings.

I'm having the little yellow scheme translated too, so far I've just realized he made the clients buy only through huobi. that's the exchange we need monitoring for more 500 lot transactions.

Sounds to me he is just one pawn in the scheme as his claim only equals 500,000 LTC

*Citation needed

At least the price of Dogecoin always went up before halving most of the times and went down after the halving. However, since crypto currencies are open complex systems with difficult to estimate supply and demand equations, it is not easy to predict what will happen.
It is good to see that BTC and LTC have finally shown some resistance against their long down trends and I'am convinced that when the real action starts, it will be faster and more extreme than anything we have seen yet and many people that were casually waiting on the sidelines will be caught cold.
The ride never ends.

Halving has no correlation with price.

It's nice to see litecoin holding value, interesting times indeed.

But if the real motiv of litecoin up price is this, why now the price is up to 5$ ? Can't is for the proximum halving?

there are not many chinese from mainland here. it's like they live on a different planet. they don't use twitter, whatsapp, facebook, linkedin, all different softwares and app. hopefully thanks to this guy they will never use bitcoin and adopt litecoin instead.

Can't believe he was able to raise 9M ltc and there's not one single investor here on bitcointalk who can explain a little bit more in depth what the current situation is.

we should check the blockchain for 500 ltc movements and see if it goes to a big recipient along with more of the same size (I couldn't find one yet).

good analysis as always usukan, let's continue.

Very good analysis, I did a similar one, but I haven't found any new deposit address either.

Something else I saw some days ago was some buy orders of exactly 500LTC in Chinese markets, but I'm not observing these now, did they stop it somehow?

Current action price could be other players thinking this was a price correction and/or players who sold at $8 buying again now.

in a very limited sample of forensics on the LTC blockchain - following transactions from main deposit address - down to what are obviously investors with regular payments being made in a circuitous route from the main deposit address - I can say

The main address supported daily payments to investors via many intermediary addresses

http://ltc.blockr.io/address/info/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou

Investors are still being paid their regular amounts right up to TODAY
http://ltc.blockr.io/tx/info/36a909677951ef4e3728949efec3c37a42c7adc06e6ae79be7437b7b4221ffff


An investor who deposited 10k LTC receives 132 LTC/day back (1.32% per day)
http://ltc.blockr.io/address/info/3P4PexgqW76jp8xUXkYdb9aFuAKHMrm464

you can see this investors deposit of 9500 LTC on 1 July to the main deposit account
http://ltc.blockr.io/tx/info/8de0ac3ba6de4fc1f6526b9346a405ca016c67364a2e5caeb1f37342f6fcb02d

What you might found interesting are the rather large balances in intermediary accounts
http://ltc.blockr.io/address/info/Lhv6b1tumaytM7ENRwfPwVa8RNfRVYw6eJ 660k LTC
http://ltc.blockr.io/address/info/LiBkrsLdt2Teod2euBpB4B1oZNs5RHaTA1 90k LTC
http://ltc.blockr.io/address/info/LepFsZCdzY93gdtyHgKULRFJ8kBKGcpcxF 120k
etc - this is just a sample

and at least the other 23 addresses that recd deposits from the main address on 10 Jul (each holding 30 - 100k+ LTC)

my initial conclusion is that this scheme is still in business as of today - and paying out

but I can't seem to find the new deposit address for the scheme (if there is one?)

If no new deposits in significant numbers - can they continue?  Certainly they can buy a lot of LTC with the BTC they picked up during the dump.  If the LTC price goes up again the value of their LTC goes up - but they need LTC to payout - so this does not really help.

But if they crash the price a few times along the way - they just keep buying back in at bottom to replenish stocks of LTC to pay out to their investors - maybe?

Of course the conclusion to this scenario is that they will just keep increasing their LTC holding - eventually squeezing most others (except their investors) out from owning - and gain total control of LTC by weight of ownership.  The price consequences are obvious.

Just noticed the LTC price seems to be going up again?

well undoubtedly someone played a coordinated action on many markets. holding down bitcoin till okcoin settlement (in order to screw all the longs positioned in the weekly futures), then dumping litecoin (causing the crash) while squeezing bitcoin just after the settlement (in order to screw all the shorts on the mid and quarter futures contract). Notice that 12 hours before okcoin settlement, more hype was generated in the alt market via a squeeze on nmc and ppc listed on btc-e.

This clearly demonstrates (or just confirms, because I can give more proof this has happened so many times in the past) that also the bitcoin price is totally manipulated by a bunch of guys. In the short term (1/2 weeks) they can fix and print whatever price they want! Whatever! They do it mostly by manipulating at the same time the price on okcoin (both spot and futures) and bitfinex which are the most liquid exchanges.

Now back to the ponzi scheme. It'll be interesting to know much more about it. If only some chinese guys could help in here with the translations and more material from chinese websites. Seems there are none or just a few.

To be honest in the recent past I had a similar idea to that of our guy, but instead of involving a ponzi scheme with depositors looking for high yields, I needed high risk profile investors and a big company with a large client base and marketing power both looking for a very risky but highly rewarding project involving litecoin or another alt within the top 10-15 ranked per market cap. So even though the chances here are 90% for a ponzi scheme whose days are already ended, there might be a slight chance that beyond that scheme lies a larger project aimed to a wider litecoin adoption in China. I guess we will find out soon.

I don't think this has been proven either way yet. As a matter of fact, except for one little part that mentions 500 LTC, I don't even think the video has been 100% confirmed to be the same address everyone is talking about. Does somewhere in the video show that address?

Perhaps it is related and they do plan on investing normal, there are other powers at work too. The DDOS happening just before and during the time of the crash for instance.

Lots of pure speculation going around imho. I would like to see the whole sales pitch translated and not just a brief clip of some talk about a guy driving around china and briefly mentioning 500 LTC at the end.

interesting story.
sad to combine a ponzi scheme, they could just invest normal.

The good thing is in my opinion, that LTC showed a indipendend move which will stay in chart history.
But the bad thing is that if one dude controls so much coins, its like a premine dev dump.
This adress controls nearly 1% of all coins aviable and so much Volume to drive litecoin another 0.010 down.
So this dude can control 2/3 of the hole daily volume, the last third will just follow since the snowball effect.
If this dude can do this with Litecoin every other smaller coin can be the next victim,
this could burn the hole altcoin community when only BTC is "safe".

Not really happy about that, since we need some plan to spit in his soup.
The only answer to this would be a counter P&D group.
Mission: International Litecoin "Kickass" Team vs. chinese ponzi "Mother Fucker"  

To all the Chinese out there:  This last LTC pump had me so erect that my dick now has stretch marks.  It has since detumesced somewhat.  How do you write that in Chinese?  Thank you and good day.

shame I only found out about this story and this thread just a few hrs ago.
In my opinion he must have sold at higher price what people were buying to deposit the 500 ltc chip (or multiples of it).
9m ltc bought out there in the market without anyone dumping some big chunk would have pushed ltc well over 0.05, maybe even 0.1

I also noticed that in the first days (April the 18th, the day when the ponzi started) he used to move the entire amount collected the same day, obviously at some point (couldn't find the date) he stopped that practice, because the net amount is still 400k positive.

does anyone have more details about how and when he would repay the investors? have the early depositors collected any yield? Has anyone have news about him? did he use to post dates and location of his seminars? are they over?

The point here is to understand what's going to happen from now on and how that will affect the price. very interesting story indeed.

EDIT: more considerations.

As far as I understood, this guy went from city to city selling ltc as the new btc to the chinese. great idea. I mean, the chinese don't use twitter, skype, facebook, they could well adopt ltc instead of btc, would be quite reasonable, and desirable too in order to have better competition between different network, devs, mining etc.

now, the question: why stop now (well yesterday to be precise, just minutes after okcoin settlement)?

Usukan asked correctly:


There are 1.5b chinese, and more middle class chinese than the entire American or European middle class combined by now. Potentially he could have spread the ltc word to many more users that bitcoin already has (in my estimates 50k all around the world with over 1 btc), and raised way more than the 50 million people spent (approximately) to bring the price from 1.5$ to 8$. There was room to bring it even up to 30$ with btc still at 300$. Unless as usukan said, they dumped on themselves on purpose in order to start all over again from lower prices.

Anyway, thanks to this guy, at least 6000-6500 people bought at least 500 ltc (would be 18k if there were only buyers of single 500 chip, but there are multiples, in any case 420 page of deposits x 20 = 8k, taken out the withdrawal maybe 500k, 7.5k left, and surely there are some doubles). Widespread adoption, in a certain sense, that can easily surpass that of bitcoin in china, probably that already happened (I don't think there are more than 10k btc user in china with more than 1 btc). If he also manages to get ltc adopted in china by some social network, the spontaneous adoption will do the rest: the price skyrockets and he will end his scheme succesfully.

So the final question then is: will this guy be able to keep the ball rolling for longer, or is he done?

Mostly it depends on the yields he has to return to the investors, and that can't be done on some mining operation as promised, he has to play the market to make gains! and by manipulating the market he might even succeed in the short term (which probably ended yesterday). Otherwise in order to make huge profits on the stake he has accumulated he needs some real chinese adoption of ltc instead of btc outside his scheme.

Let's keep this thread up and continue the investigation. It's fascinating!

NO - this is not the case (sold or dumped his LTC)

If you use a better block explorer like

http://ltc.blockr.io/address/info/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou

Every recent withdrawal from the above address is still retained in the address it was sent to - nothing spent and nothing dumped from these receiving addresses "recently" - so far.  Takes a while but you can work through the list and see for yourself.

8.6m has entered the LTC address above - 400k is retained here (but most of it its STILL RETAINED in the addresses it was set to from 34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou).

Very puzzling indeed.

Of course could be dumped from earlier withdrawals - would need someone to wade through months of transactions to check but this is highly likely.

So what next.  This player obviously holds a huge stack of LTC still.

Did he dump to start the earning scheme over again - that would be a smart move.

Did somebody else dump on him to ruin his earning scheme?  Unlikely considering the scale - but certainly possible.

My pick is that this scheme dumped on itself using old LTC. A dump of old LTC deposits of 1m and at most 2m would achieve yesterdays results.  That still leaves them with at least 6m LTC (and considering the vast amount they hold they probably only dumped a small proportion to get the ball rolling - at the highest prices - after that panic selling by the masses would fire the drop we had - any slowing in sell-off would be quickly reignited by a few more sales from the scheme) - so the whole climb up the ladder and profit to its subscribers can repeat.

Scheme likely now re-buying LTC slowly with BTC profits (trying not to start a run up in price) - the investors will be sitting pretty if the scheme does not run off with funds!  Its just a new twist to this type of scheme and quite ingenious.

What is worrying is that this scheme I suspect holds a controlling stake in LTC - they can do what they want to it by sheer weight - a megawhale.

Time will tell

Is anyone in this investment scheme on this forum?  Is the scheme still paying? That would be interesting. I would not mind betting that a new deposit address has been (or will be) started for the scheme.

My bets are firmly on a flat LTC price for maybe a week (as the scheme vacuums up the many willing sellers) - then a fairly quick rise to beyond USD 8 as the scheme takes off again.

If they are not paying out to their investors likely game over - but don't forget that they still hold significant LTC and its in their interest for that price to rise again - with or without their investors and continuing deposits.

Here is the eagerly awaited transcript of what is actually said in the video. Translation was done by bitcointalk member polychenko (you can Donate BTC to him at 1NBBuD3N89sRLYgG8HvURUvVPzGEgiaT8a)

Video:
https://www.youtube.com/watch?v=sVsWQa9qKnk

Transcript:

The dump last night dwarfs this though



Lets just hope that wallet keeps getting the 500/LTC or else this pump might really be over

damn that's nuts!