^^^ LOL, so the hash rate actually increased after he claimed their miners had been switched off? That is hilarious.
No but that isn't stopping some desperate folks from scrabbling around the place trying to claim that there's hundreds of altcoins where it could be 'hidden'.
Which simply isn't true. Firstly, they need to understand that not all altcoins are Proof-of-Work and, secondly, not all PoW altcoins are scrypt.
That is a massive amount of scrypt hashpower that apparently went offline and if they go on to claim it is back online at any point in the coming days there would be a noticeable degree of fluctuation in the hashrate for many scrypt coins. Which we won't see.
Quote
Anyone notices any drop in hashrate somewhere ? 500 Ghs + 350 Ghs is not easy to hide.
No but that isn't stopping some desperate folks from scrabbling around the place trying to claim that there's hundreds of altcoins where it could be 'hidden'.
Which simply isn't true. Firstly, they need to understand that not all altcoins are Proof-of-Work and, secondly, not all PoW altcoins are scrypt.
That is a massive amount of scrypt hashpower that apparently went offline and if they go on to claim it is back online at any point in the coming days there would be a noticeable degree of fluctuation in the hashrate for many scrypt coins. Which we won't see.
Actually I have an investment there as well and I hope they're legit and long live like everyone here, but I rather trust the numbers than some nice talks.
The admin claimed to have 500 Ghs for the users and 350 Ghs for himself (scrypt ASICs). After the power went down 2 days ago, I tried to find the drops in hashrates but I found nothing (someone feels free to correct me ). I checked all the scryptcoins at coinwarz and 4 biggest coins are LTC, DOGE, SYSCOIN, VIACOIN. The total hashrates of these 4 are around 4 THs if you look at the numbers, but the fact that they are mergemining, so we could approximate the total hashrates of scryptcoins are around 1.5 THs (I ignore another small scryptcoins, but since their hashrates are not significant, I think this number is actually already an over-threshold).
So I could think of 2 possibilities:
1. Worst case: the whole mining OP is a lie and that explains no drop in hashrates. The power outage is a lie as well and we still don't know the reason yet. (Maybe it's another scheme to squeeze out the last money as well, check the hot wallet and you could see it grows almost 1k BTC more only after 2 days).
2. Best case: the mining OP is legit and the hardware is still mining, then the power outage is a lie. Maybe the admin wants to have the BTC to cover some costs, or wants to FUD the OP to buy back some cheap KHS and resell high later when the OP is turning back on.
Either the case, the possibility that the admin lying is pretty high and that's a heavy blow for honest investors. I would stop my investment if I found out that someone is lying to me.
Invest or not is your choice as always, but after getting the hard lesson at ltcgear, I would be more careful with this one.
Just my 2 satoshis.
Regards,
Aizen
Litecoin hashrate shows a ~200GHs drop in hashrate about two days back
https://bitcoinwisdom.com/assets/difficulty/litecoin-hash_rate-estimated.png?1431510607
Yes I saw that, but it goes back shortly after and even if it's from scryptcc, 200 Ghs is nowhere near the 850 Ghs he's claiming. So there exists another possibility:
3. The middle case: the whole OP is part ponzi part legit mining like ltcgear. Last year they have the legit mining OP (with muss less hashrate than now, but the payout is ridiculous and the number of users are small). After the admin was gone (or hospitalized), he came back (or another one who pretends to be him), the (new) admin has learned the fact after ltcgear fiasco that the fastest way to make money is part legit, part ponzi, he dropped the price and increased the rewards to an acceptance level (around 60 days ROI). So human nature (greed) kicked in, the scheme lives on and survives easy for a few months since people are mostly reinvesting. After big money flows in and the number of users gets bigger, it will blow itself (like ltcgear did).
It's some possibilities I could came up, please free to correct me or discuss in an educated manner. Don't take me for a troll because I have my investment there as well.
