Bitcoin Forum

As per a video posted on 8btc. A "direct sales" team is promoting the litecoin nation-wide.
http://8btc.com/thread-20406-1-1.html

http://ww1.sinaimg.cn/bmiddle/e0a95b25gw1etwa5smmnzj20w00n6q73.jpg
It has been confirmed by Zhao Dong, a major miner& dealer in China.
http://ww1.sinaimg.cn/bmiddle/e0a95b25gw1etwa5qdotij20i70et42d.jpg

That's awesome, I've been stacking litecoin for a year or so.

Will they be moving to bitcoin next?

How exactly are they promoting litecoin?

Can anyone explain this to us?  I am watching the video but having a little trouble understanding it :)

Taking a page from DOGE, it's now referred to as RiteCoin, albeit runar is stricken from all marketing campaigns. You feel rucky, punk?

Someone translate and put it up on youtube so it can get shared around more easy.  Youtube vids are far more successful at going crypto viral.

Any place for this video to be explained better???
I mean can anyone translate it better???
A bit too freaky language to understand...

like wise :D

Basically, they promote it just like a pyramid scheme.

How do they make money out of it, they cash out their litecoins when the price is good enough?

Here is another picture that explains the scheme. (might not be the same group, but similar idea)
http://8btc.com/thread-20421-1-1.html
http://8btc.com/data/attachment/forum/201507/09/152202k7znz2ok2z7czf6a.png

I don't speak the language, care to translate please....

Nobody knows Chinese man, whats the points of that picture lol

Thanks. Now I just need to buy Rosetta Stone for chinese and I'm all set.

Maybe better to put the text so we can translate it in google, in this way we dont understand lol.

There is nothing new in a pyramid scheme. So I wouldn't bother to translate it into English.
Here is their PPT in word:

http://8btc.com/forum.php?mod=redirect&goto=findpost&ptid=20406&pid=171287

LOL, dude, you're killing us!

So,

1. 10%
2. 10%
3. 3%
4. Profit

Member must buy in 500 ltc to be eligible to collect "mining return" (3-5 ltc/day).

So how long before this things crashes? a lot of people bought in to ltc last time at 21 usd...they won't wait to leave

most people who bought at 21 already left long time ago. no one gonna wait for it to crash to 0. lol

litecoin receiving address of "direct sales" group exposed and over 1 million in balance:
http://8btc.com/thread-20406-3-1.html

Disclaimer: Own zero Litecoin and I think its' presence is damaging cryptocurrency.

How is this different from Bitcoin?  2013 had all sorts of people saying $10,000 Bitcoin was on the horizon and this was your last chance to buy in!  We also saw that "better than Bitcoin" uToken scam collect $400 million and that probably outperformed every alternate to date.. 

All the volume on BTc-E and Bitfinex
China sleeping right now and miss all the fun

omg buy more!!!!! lol

No big surprise one chinese guy in a suit is doing more to bring in new money than the entire BTC Foundation.

Yeah, and that left a bad taste in a lot of ordinary folks' mouths.

Hmm, i plan to do the same.

I waear a suit, speak chinese and through a mistake my video lands on youtube

where i say that i will pump XRA Ratecoin with 2 million dollar = i will be rich witch one video.  :)

This guy is LTC fraudster ???

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

The Chinese would make much more money by pumping Monero since there are so few of them available.
Just try to get at least a modest position in Monero and pump it to high. It could easily pump 100 times even for a smaller amount of money.

https://www.cryptocoinsnews.com/litecoin-rising-200-gains-days/

They seem to remove your comment when you show them the video from page 1 from this thread,maybe somebody else wanna try to post on cryptocoinsnews and show the proof of the 500LTC scam?

Anybody fluent in english or german AND chinese want to be interviewed or able to provide some deeper info?

This is the wallet they use for the scam: https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou
They ask for a minimum of 500LTC deposit and in return the people get a mining reward.

Ok, thanks.

You also posted the Youtube about Dash? Could you post the minute where they say "Dash"? Maybe I understand at least that word...

this is the google translate version of the original page: https://translate.google.com/translate?sl=zh-CN&tl=en&js=y&prev=_t&hl=nl&ie=UTF-8&u=http%3A%2F%2F8btc.com%2Fthread-20406-1-1.html&edit-text=

Maybe you can get some more info from the comments over there.

Maybe you can post on Cointelegraph:Strange LTC wallet uncovers possible LTC pyramid scam in China!There are rumours circulating that there is a LTC scam going on in China,people need to buy and send a minimum of 500LTC to a group of investors and in return they would get a mining reward.There is a wallet found that seems to back this story up: https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou .
For now we dont have more information just yet but we keep you guys posted!

Yes, thanks, that`s about what I`ve read so far as well, but I`d like to know more and have some reliable sources. So you do not speak chinese? Who has made that DASH video for instance?

I dont know,got that link send to my whatsapp and no i dont speak Chinese.

Today litecoin volume is higher than bitcoin volume, is this the first time?

http://www.coincap.io/

Has anyone tried to post that on Reddit?

Why dont you make an account and post there? ;)
I'm going to bed now,bye.

sounds like a pyramid scheme. He's saying that some people doing whatever (probably investing in him) is getting 4000 LTCs a day as a reward

I don't know but when I was clicking on the sort by volume I noticed there is a Taco Coin!!  Second from last in volume, but hey its Tacos! Gonna try and buy a few just because....

You heard it here first, Taco Coin pump incoming.

That was deliciously racist, thank you for not being PC.  'Tis one of the things I like about this board.

And the thing is, Chinese KNOW how to pronounce the "R" sound and "L" sound differently, because they exist as distinct sounds in Chinese. Only Japanese and Korean confuses r with L.

Thanks for sharing.

I'm still in LTC at the moment.  I got in with 36 BTC worth on June 13th.  I have now tripled my profits.  Trying to decide when to get out.

So, does anyone think the present pump is a grand pump and dump scheme for LTC?  As well as the other alts?

This is crazy. Something like 22% of all mined LTC has moved through that address. I'm beginning to think this is for real. Has anyone uncovered any more info on the people behind this? I wonder where the other 7 million LTC have gone. There are batches of 500 --- something like 8000 tx in the past month or so -- still being sent. Hundreds today.

Crazy.....

I'll just leave this here.
https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?skip=20

So, the Chinese are attempting to corner the Litecoin market...  that's a bold move, let's see how that works out for them.

Here also with chart: https://bitinfocharts.com/litecoin/address/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou
I think they might be A factor in the price increase but the traded LTC volumes on exchanges are so big that they can't be the only reason.

Also what happens to the LTC?
Are they just collecting LTC, paying  out an ever increasing sum of unrealistic interest as the scam(?) expands, and when they no longer can expand they run with the coins? Do they sell the LTC as they come in?
Someone should do a deep analysis of the wallet's payment streams and we need definitely more info about what it is that they offer and how they describe their system.

ProTip:  This is how the game ends:

https://en.wikipedia.org/wiki/Cornering_the_market

Indeed, this is my first thought as well. But I also wonder how long it could go on for.

Warning: tin foil hat on. What if the same group behind this scheme are also the ones spamming the bitcoin blockchain? There has been a whale on OKcoin selling thousands of coins into any bid wall or rally attempt in the last couple days, while LTC rallies. Meanwhile, 30k blocks out of that address listed above, 30k order blocks on BTCE LTC/BTC.

I know, serious conspiracy theory. But almost 25% of the mined supply of LTC has been through that address in a couple months. And all this lines up so well..... if this is all one group, I am seriously impressed.

The guy in the vid is basicly saying 2013 was the year of bitcoin, and 2015 is the year of litecoin. So everyone should buy while it's not too late.
They've got a very professional team for this. One thing for sure is they are really persuasive. And the buyers are rich enough to pump the price up, fast.

Yes, for God's sake, when will people learn!!

oh, about NOW!

It`s in german, but it basically summarizes what you guys have found out in this thread:
http://cointelegraph.de/news/114804/litecoin-anstieg-steckt-ein-schneeballsystem-aus-china-dahinter

Thanks everybody for your help!

coin is crashing hard now from 8 to 5 in hours!

I think ltc will go up again to 10$ a piece

They are withdrawing like crazy from that adress:

https://bitinfocharts.com/litecoin/address/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou

Well: given the recent plummet, it now looks like a pyramid scheme that's collapsed...

In other words, it ends in the same way that "drawing to the inside straight" does in poker. ;)

So did this dude just dump nearly all his LTC last night and singlehandedly caused the crash?

https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?skip=20





Mother fucker... I was hoping he would keep pumping a bit more. Is this game over? LTC back to $3-2?

I don't think so, it seems that someone who had a shitload of litecoins took advantage of the situation and cashed out, and this may actually help the pyramid scheme, as now it's cheaper to get in, in fiat I mean.

I think it's impressive that a scheme like this can drive the price up so much.

What? It looks like the pyrimid schemer himself sold all his LTC

https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou

Oh, I see.

That's a lot of litecoins...

Where can you see any sold? How would leave that many in one address?
Bitcoin bin called a scream pyramid scheme from day one.

is there any translate video online? Does this really explain the LTC price explosion?

Do you even know what pyramid scheme is? dumb ass?

We should start learning the Chinese language, will be very useful for us to understand them

Just 5% of the total amount transferred to that account is still there. Seems like the Pyramid is about to collapse if there are no new 500 LTC transfer (which they wont when everybody is aware of this forum post and all the news in the blogs).

If you have Litecoins bought in the last days SELL THEM NOW, or you will be very upset in the next weeks...

1- Ponzy schemes dont pump and dump, they keep on pumping thil the colapse.

2- there are now 2 new entries of 500 ltc eatch in that wallet

3- the whitdrawls from that wallet have happned before if you see the june month

4- the fall off the price its because people wo have ltc think tha its a pump and dum, so they sell, or switch to BTC

2 in the latest 10 hours. Look at yesterday and past days... More than 20 per hour. This Ponzi is dead, when they decide to liquidate the rest of their LTC assets it will be over.

PS: Don't look just at the BTC/LTC pair, they will sell LTCs into other currencies where possible. They will try to keep the BTC/LTC as high as possible until it's too late so don't expect big sell offs in BTC/LTC in the next hours. You read it here first.

no, they where made in the past 4 hours, the 500 ltyc amounts dont came directly from the clients, they are store in wallets then they are transfer two this one. if you see the mouth of june and may, you will see that whats happning now its exactly what happend then. the diference is that people just realy the ponzy scheme now. If you track the wallet you will see tha the transfer for this wallet begin in april.

but "he" needs at least 1mio LTC to move the Price further downn (1mio~ = 0.010 move)
so this 500 ltc dude is just a hype

5- 79.6% of volume is on finx and btce  

29.65
27.76
18.39
3.27
0.53

6/13/2015 6:39:49 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 30,000 LTC
6/13/2015 6:39:49 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 20,000 LTC
6/13/2015 6:39:49 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 30,000 LTC
6/13/2015 6:33:11 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 20,000 LTC
6/13/2015 4:22:27 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 20,000 LTC
6/13/2015 4:22:27 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 25,500 LTC
6/13/2015 4:22:27 PM (UTC)   LVW9rw6qQn1JrZVLAhneQzm8ZmhELpznmH  see tx  - 20,000 LTC


it happend in june

10 June 2015 - 10 July 2015 in relation to Bitcoin
https://i.imgur.com/JEbSsvw.png

damn that's nuts!

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

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:

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.

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!

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.

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"  ;D

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.

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.

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?

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.

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.

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.

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. :)

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?

Halving has no correlation with price.

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

*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.

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

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.

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.

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

the entire presentation of the ponzi:

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

any chinese that can report the whole thing in english?

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.

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.

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?

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??

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

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

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.

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).

they have an update:

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

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

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

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

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

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.

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?

I did some analysis of the LTC blockchain on my thread:
https://bitcointalk.org/index.php?topic=671764.msg11919684#msg11919684

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.

"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..........

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

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.