LTCGear.com SCAM - Enough is enough, lets get some info together - page 15.

jackbox

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Quote from: tonygal on February 10, 2015, 04:57:12 AM

Quote from: erwin45hacked on February 10, 2015, 04:45:05 AM

but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

You would understand if you were among those who multiplied (not just roi'd, but multiplied by 3 or 4!) their investment during the insanely
profitable summer/fall of 2014 with LTCGear. There is no way that in 2014 LTCGear was run ponzi-like by paying from new deposits, the
profits were just much too high for a much too long timeframe. I don't know what happened after BF/CM, though..

But I'm not angry with you guys. If I just came to hear about LTCGear in december 14 and know nothing about the time before,
I would also be shaking my head and be wondering how people can still believe that something positive can happen.

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.

tonygal

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Quote from: erwin45hacked on February 10, 2015, 04:45:05 AM

but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

You would understand if you were among those who multiplied (not just roi'd, but multiplied by 3 or 4!) their investment during the insanely
profitable summer/fall of 2014 with LTCGear. There is no way that in 2014 LTCGear was run ponzi-like by paying from new deposits, the
profits were just much too high for a much too long timeframe. I don't know what happened after BF/CM, though..

But I'm not angry with you guys. If I just came to hear about LTCGear in december 14 and know nothing about the time before,
I would also be shaking my head and be wondering how people can still believe that something positive can happen.

Warbigold

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Quote from: erwin45hacked on February 10, 2015, 04:45:05 AM

Quote from: skuser on February 10, 2015, 03:24:40 AM

I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

very clever indeed, but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

Its like atheist vs Christians everyone yell but nobody have a single argument/proof

erwin45hacked

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Quote from: skuser on February 10, 2015, 03:24:40 AM

I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

very clever indeed, but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

skuser

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I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

otorongo

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We have some Colombian dogs ready for action Grin

(Tenemos varios perros Colombianos listos para la accion).

nelsonroberts

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To Borisz

" It's a bit funny, because the weekly payout calculations are shown for every week still. "

As discussed previously in many posts, this simply a script running.

Libertymind

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Quote from: Danz0r77 on February 09, 2015, 09:30:55 AM

Quote from: Flep182 on February 09, 2015, 08:36:58 AM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

If any of that were happening I would be more surprised then I've ever been in my life. There is still zero confirmation of any balance showing in any user's account.

This is the kinda of thing that makes the public call for regulation.

Borisz

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Quote from: Gws24 on February 09, 2015, 04:12:03 PM

lol, with 10$/share we're paying him 20 to a 100 times what we paid for shares ;-)

for reference, when I bought my first shares in november they were like 0.5$/share and the last shares I bought were 0.14$/share. Didn't he mean per 1000 shares because otherwise......

Sorry, its probably not per share. That would be waaay too much. I'll check my emails and re-read.
Maybe per package bought or something...

Anyway, it was a long time ago, so the figures have probably changed quite a bit.

Gws24

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lol, with 10$/share we're paying him 20 to a 100 times what we paid for shares ;-)

for reference, when I bought my first shares in november they were like 0.5$/share and the last shares I bought were 0.14$/share. Didn't he mean per 1000 shares because otherwise......

Cryptophile

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Quote from: Borisz on February 09, 2015, 03:32:33 PM

Quote from: Honeycutt22 on February 09, 2015, 03:22:09 PM

Quote from: Borisz on February 09, 2015, 03:08:14 PM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Nope... Consensus from about 4 different forums I follow is not a single person has a balance showing.. I'd venture a guess that's a pretty good indicator of LTCG customers overall...

But... at least we got an update saying he wants more money!!!

Oh, ok. So most likely nobody got a withdraw yet. It's a bit funny, because the weekly payout calculations are shown for every week still.

As said, before I bought my shares I asked him if there were any other expenses like maintenance fee or something. I did this because all other cloudminers had this. And he said there would be some annual ~10$/share. Actually I was wondering why I didn't have to pay that already. (Not that I terribly want to give away money)

Not sure what to think.

$10/share? Roll Eyes

So someone who bought at 3k0 would owe $30k? Seems unlikely.

The calculation updates are also scripted, so that means nothing...

Borisz

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Quote from: Honeycutt22 on February 09, 2015, 03:22:09 PM

Quote from: Borisz on February 09, 2015, 03:08:14 PM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Nope... Consensus from about 4 different forums I follow is not a single person has a balance showing.. I'd venture a guess that's a pretty good indicator of LTCG customers overall...

But... at least we got an update saying he wants more money!!!

Oh, ok. So most likely nobody got a withdraw yet. It's a bit funny, because the weekly payout calculations are shown for every week still.

As said, before I bought my shares I asked him if there were any other expenses like maintenance fee or something. I did this because all other cloudminers had this. And he said there would be some annual ~10$/share. Actually I was wondering why I didn't have to pay that already. (Not that I terribly want to give away money)

Not sure what to think.

Honeycutt22

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Activity: 280

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Quote from: Borisz on February 09, 2015, 03:08:14 PM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Nope... Consensus from about 4 different forums I follow is not a single person has a balance showing.. I'd venture a guess that's a pretty good indicator of LTCG customers overall...

But... at least we got an update saying he wants more money!!!

Borisz

sr. member

Activity: 476

Merit: 251

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Danz0r77

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Activity: 574

Merit: 504

Quote from: Flep182 on February 09, 2015, 08:36:58 AM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

If any of that were happening I would be more surprised then I've ever been in my life. There is still zero confirmation of any balance showing in any user's account.

jackbox

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Quote from: nelsonroberts on February 09, 2015, 09:01:06 AM

Quote from: Flep182 on February 09, 2015, 08:36:58 AM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

Ok, really?? Well then here's a question I copied from another thread. Maybe, you'd like to speculate an answer:
" What are you going to do if he has already paid you up to and including Dec 19th and only owes you for one more payment for 2014, ie., Dec 26th AND lets say he owes you a 1000 ltc but he tells you your fee for 2014 is 2000 ltc and therefore net is pay him 1000 ltc before you receive any payments for 2015. What are you going to do? "

Not pay anything because he will take your money and still pay you nothing. It may have started off legit but LTC Gear is now a fucking scam.

nelsonroberts

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Quote from: Flep182 on February 09, 2015, 08:36:58 AM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

Ok, really?? Well then here's a question I copied from another thread. Maybe, you'd like to speculate an answer:
" What are you going to do if he has already paid you up to and including Dec 19th and only owes you for one more payment for 2014, ie., Dec 26th AND lets say he owes you a 1000 ltc but he tells you your fee for 2014 is 2000 ltc and therefore net is pay him 1000 ltc before you receive any payments for 2015. What are you going to do? "

Honeycutt22

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I highly doubt Chris would charge us the tax before he pays us... He'll either deduct the tax from what we're owed or do some sort of options to withdraw the balance and pay the tax and keep your shares... Or take it all and give up the shares.

It would be extremely foolish/oversight to make us pay first after 8 weeks of late payments... Would make absolute zero sense.

jackbox

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Quote from: Flep182 on February 09, 2015, 08:36:58 AM

Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

That's an awful lot of unjustified speculation and a ginormous leap of faith. I think he is just going to try charging more money and saying no payouts considered until you pay some "tax." Just more scam IMO.

Flep182

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Quote from: nelsonroberts on February 09, 2015, 12:57:33 AM

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

Topic: LTCGear.com SCAM - Enough is enough, lets get some info together - page 15. (Read 55606 times)