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Author Topic: StakeMiners: restricted withdrawals, falsified stats, insolvent. Do not invest!  (Read 11596 times)
Gleb Gamow
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January 05, 2016, 09:47:56 AM
 #121

I'm correctly calling you a liar because you claim that StakeMiners has 126 BTC invested.

He is probably not lying about people investing 126 BTC with him. What he is not saying is that he has lost over half the BTC value of their investments.

You don't understand. cyberpinoy coulda had class. He coulda been a contender. Leroy Fodor coulda been somebody, instead of a bum, which is what he is, let's face it.

I did not "lose" anything, we in crypto are all at the mercy of the markets. There is nothing we can do about that, People would have and do see the same kinds of losses in their own solo staking wallets, the difference is with us they earn more stakes more frequently where as on their own not only are they getting hit with low values right now, but the difficulty is so high making it very complicated for them to earn as much on their own as they would with us.

 I am proud to say i do work very hard for our clients, every day. I make sure to provide them with a staking service that creates and is credited with stakes in every wallet every single day. I was even told by a team that we should not be getting a stake every day in their wallet, but yet we do, sometimes it skips one day but then stakes twice the next day. But on average we get 1 stake a day in every wallet, multiple stakes in some.

This is not POW mining. POS takes work and knowledge, you just dont plug a miner in and walk away. In POS Mining, you will get out exactly what you put in. Minimal work will get you Minimal rewards. ill structured wallets will gt low rewards. What people like about our service is they can see the difference mining thru us compared to mining on thier own. I know you guys are all pro POW and don't really like nor understand POS and that is fine too.

EDIT: I do not want to be a contender of anything, Including you guys attack on me and the StakeMiners service, which has never missed a payment in almost a year now. And I do not want to be a somebody, I want to be part of a service that provides recurring income opportunities in the crypto world, something we have very few of.

EDIT EDIT:
But I do not appreciate being called a liar when i am not, I do not like biased attacks from competitors who are most likely trying to garner customers thru their attack, extortionists trying their best to get me to pay them to shut up. I do not appreciate a lot of things you guys do, which I could very well do right back and I do not.

Why can we not just be civil in crypto, why is there so much toxicity and always attacking the wrong people.

https://forum.gethashing.com/t/pos-mining-stakeminers-com/3925/700

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It does not say if you want to be a serious investor, it says if you are serious about investing, please lets not twist words, I deal with it enough from Suchmoon and Bruno. He was saying , as I am taking it, if you are serious and would like to invest but have questions about the service to ask.

2013-May-26: http://www.dslreports.com/forum/r28321242-I-Need-network-help

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I have been trying to work with them but the problem is the structure of the business itself they are running an ISP like an internet cafe making people share lines. We get 860 KBPS across the street in our home but our cafe only is getting 16 to 30 today it is 6 to 16kbps. the funny thing is my cafe is right next to the pole and the house has a line spliced into the middle of the main line and ran across the street 20 to 25 meters(about 65feet) away.

16-01-14  01:10 AM: http://forum.hon.garena.com/showthread.php?50436-Match-making

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Ok Well first I live in the philippines, I used to own an internet cafe and the problem was not a problem at all, because there were always people playing HoN/[CENSORED BY ADMIN][CENSORED BY ADMIN][CENSORED BY ADMIN][CENSORED BY ADMIN]/LoL 24 hours a day and we could make teams that way, but I sold the cafe and now play by myself, Finding dependable friends to play with is not as easy as you may think. If I were in America I would easily find them many different portals to start a clan all in the same house to play HoN. No problem there, I have a lot of friends in my list on HoN however usually only 3 to 4 online at a time. I however spend a good portion of my day online usually playing either [CENSORED BY ADMIN][CENSORED BY ADMIN][CENSORED BY ADMIN][CENSORED BY ADMIN], HoN or LoL, sometimes I delve into starcraft 2 defense tower matches, and other games, I only have 250 games on my computer. hehe.

01-03-14  02:06 AM: http://forum.hon.garena.com/showthread.php?51276-Looking-for-Active-Players&p=338370&viewfull=1#post338370

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And again i am not a hybrid, I am not Filipino or Pinoy none of the above, I live here thats all, I was not born here, Neither my mom nor dad was Filipino, they were Italian actually, I do not like it here to be honest, but this is where I am at the present moment, and I have seen many MANY Filipino players, and I can tell you, they are better than what you have experienced. I would say your experiences come from the rich kids at home comfy in their chair. The real players play in cafes, and dont have tons of money, and my cafe was one of the only cafes in our area that even offered HoN in their gaming network, most only offer Dot@1 so I can imagine what players you are actually getting from the Philippines.

15-03-14  01:28 AM: http://forum.hon.garena.com/showthread.php?51560-Something-really-wrong-w-the-forums&p=339193&viewfull=1#post339193

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I was thinking the same thing LOL

I do not know why people report IGNs maybe they got mad about something else and the IGN was the only thinng they could legally report about.

This is a SEA site there for most people here do have broken english.

Most people including OPs do not read all of the thread and replys before posting.

I can say I own a cafe, therefore instead of wasting time in the forums most peope just want to play, they pay for their time on the internet by the minute, so a lot of people in Phils, who use cafes, dont have time for the forums.

I actually did read the TOS

22-03-14  04:16 AM: http://forum.hon.garena.com/showthread.php?51666-Legacy-Accounts-Still-Work

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Hello this is more an informative post. I own a cafe and I I am asked constantly what a Legacy account is and what it does. I knew some of the answers because I activated it once about 2 months ago. But then I saw a post that said Legacy accounts were no more. In garena Hon you do have legacy accounts. I do not know about EA. I can show now the steps of how to redeem your legacy account.

07-04-2013 01:09 PM: http://forum.lol.garena.ph/showthread.php?51165-Connectivity-Issue-7-03-2013&p=856455&viewfull=1#post856455

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My cafe will give you guys some time to fix, but with the already bad reputation of LOL and problems of this scale I dont see how it is even worth it to install the game on my other computers. We are very VERY serious Dota and HoN players with tournaments, team matches, clan battles and many other things we offer our customers. but problems like this will only ruin my day with the complaints from my customers. If I can't fix the problem myself and it is out of my hands, it really bothers me. I am a customer satisfaction business, and when others problems effect my customer satisfaction it creates problems with me.. We are competitors and we hate to lose, especially when its a technical malfunction we can not control.

Please fix this error so i can better judge the plyworthiness of this game in my cafe.

11-04-14  03:14 AM: http://forum.hon.garena.com/showthread.php?51958-Why-the-censor-of-the-word-Dot&p=341489&viewfull=1#post341489

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The lack of player base must equal the difference in lifestyle expendatures. Lets take Philippines as an example. In philippines we spend 1000 pesos and get roughly 1100 gold coins. 1000 pesos is a lot of money for a person to spend on a game considering they make roughly 250 pesos a day to work. 1000 pesos is only 22 us dollars. As an avid gamer my wife and I both played games while living in america spending 40 dollars each 1 time to 2 times a week on 3 different game4s, Plus Netflix, and all our other entertainment, satellite TV cable TV 10MBPS internet connection, cell phones, so on and so forth. Mostly because to us 40 bucks each was nothing to spend on a game we enjoy playing together. On Average a Filipino may, and I stress MAY spend this 1000 pesos once maybe 2 times a year unless something happy happens and he has another time he may have the extra money. But most likely they will spend absolutely nothing on the game at all. I can tell you owning a cafe for a year, not 1 single customer has ever bought or used garena shells. Not 1. They concentrate more on putting their money into the computers and dont care about the extra costs for the games themselves. And I have people that come from about 12 different cities and play in my cafe.

Knowing all of this I estimate altho you have a massive amount of people playing on these servers how many of them are actually spending money?

15-05-14  05:18 AM: http://forum.hon.garena.com/showthread.php?52312-Queue-times&p=344076&viewfull=1#post344076

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So why are you wasting your time and reply at all HAHAHA

To all the others thank you, I was not whining as flamboyant flamberge noted, I was wondering what my next step would be, Something flamberge does not understand is in cafes sometimes you dont have 20 to 40 minutes to wait around, I dont have that rpoblem but many others who use cafes do, they have to pay for theirtime by the minute, this thread is a good way for anyone to set their MMR at a respectable time conserving area, a place where they know they can sit and play unranked games with a time wait in their frame of time. I see so many games where people get DC not because of bad connection but because they waited 18 minutes to connect to a game thehn their alloted time on the arcade ran out so they have no choice but to leave the cafe. if you are in a ga,e with me in my cafe Ill throw a few pesos in your machine so you can finish your game. but not all owneres are like me.

I needed to know a good area to stop raising my MMR and play unranked games with little wait times. That was why i started this thread. Yes flamberge you are right the game itself is free, but to many Filipinos being able to play the free game is not so free.

July 14, 2014: https://cryptsy.freshdesk.com/support/discussions/topics/4000281083

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Below is a picture of a referral train I tried to set up in my cafe, everyone in my cafe as well as 3rd tier referrals were denied. without a way for me to appealthe denial and give proof of our actions I lost the referrals and now the ones who tried to connect into the system will be banned because we tried to connect under the same IP once already.

https://cryptsy.freshdesk.com/helpdesk/attachments/4004475392

November 23, 2014, 02:34:54 AM:


Ahh and now the attack on the country where I am, well let me share something with you. Cyberpinoy was the name of our internet cafe, (one of the businesses we sold) I in fact am not Filipino. I am american and a YANKEE of all horrible things HAHAHA.  Always remember its not very nice to judge people by the stupidity that is spread about their lifestyles or the uneducated stereotype rumors about where they are from.If I were to believe things like this I would assume since you are from Georgia, you are an inbred moron who most likely ate your sister mistaking her for a pig. You are most likely missing over half your teeth, bath in the river once a month,  and still staring at your Miners wondering how the mouse and keyboard connect to this computer HAHAHA. I would be careful how you stereotype people being from Georgia HAHAHA you guys have a few of your own.

And FYI the Philippines is not the country that killed their female young that was China and it was a very long time ago. Please update your library of books, or just get online and google stuff before you make such ridiculous posts.

November 29, 2014, 08:57:45 PM:

It is astounding to me how utterly stupid the Filipino people are. As an american living here i have noticed a lot about Filoipino native people. this is a country of opportunists. It has a population of people where 90% of the people are scammers, con artists, thieves, beggers, lazy with their hand out, want to get money for nothing people. Even the Huge business corporations are no different. Their business structure is lacking in so many aspects of true honest business. Their lifestyle lacks ethics of any kind, and the rule among thieves does not apply to these people. They are a monkey see monkey try and do kind of people. A follow the leader mentality. SO why more of these people who want to sit on their ass and do nothing for money have not jumped on board with Bitcoins is beyond me. They will sit in front of a computer for hours on end trying every work at home pyramid scheme you can find, I know becasue I own a internet cafe and watch them regularly wasting their time and money. Their ISP IPs are banned all over the internet for spamming, thier business structure lacks common business logic and business ethics. They are a culture full off opportunists who refuse to take advantage of an opportunity that can make them literally rich over here.


22-December-2014, 10:03 AM: http://www.world-bitcoin-forum.com/showthread.php/64492-Bitcoinbegger?p=563618&viewfull=1#post563618

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All you have done is increased awareness to his site, My family and I went thru a fire that destroyed our first mining farm with solar panels, as well as a 15 unit Internet cafe a Disco bar and a small grocery store, and above all our home and everything we owned. I am now stuck in the Philippines where everyone takes advantage of me, even overcharge me to buy the most basic needs like meat and other food. I can not get a job of any kind. We also asked the Bitcoin community for help even put our land up for sale for Bitcoins or to be used as collateral for a Bitcoin loan, We got nothing, not 1 satoshi from the wonderful wallet fulls of bitoins and its community. We could not even get a loan for some bitcoin to get another mining farm started. Everything I have in bitcoins I earned the hard way, working my ass off every day. At least this guy has a job, be it may be a job he is displeased with but he has one, I had to start a bitcoin business with absolutely no money in my pocket, spending sometimes 20 hours straight doing faucets every 15, 30 and 60 minutes religiously. This guy wasted his wealth on a bunch of pump and dump schemes, lost it gambling and doesn't like his job and wants everyone to bail him out. I am happy he chose the ethical route and asked for donations instead of scaming others, but sometimes you just have to buckle down, at least he has an income to try and build a bitcoin business, Try doing it with absolutely NO income of any kind.

The following is a timeline of what Leroy Fodor had to say about owning, selling, losing, etc., his Internet cafe there in the Philippines.

December 8 (local date), 2012: Leroy Fodor's cafe burnt to the ground.

May 26, 2013: Cafe operational.

July 4, 2013: My cafe...

January 16, 2014: I sold the cafe.

March 1, 2014: ...my cafe was one of the only cafes in our area...

March 15, 2014: I own a cafe.

March 22, 2014: I own a cafe.

April 7, 2014: My cafe will give you guys...

April 11, 2014: And I have people that come from about 12 different cities and play in my cafe.

May 15, 2014: ...in my cafe...

July 14, 2014: ...in my cafe...

October 23, 2014: Looking for a loan... I ended up selling the land...

November 23, 2014: Cyberpinoy was the name of our internet cafe, (one of the businesses we sold).

November 29, 2014: I own a internet cafe

December 22, 2014: ...a fire that destroyed our first mining farm with solar panels, as well as a 15 unit Internet cafe...

All the above is by Leroy Fodor depicting his INTERNET CAFE sans any twisted commentary by myself, Bruno.

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January 05, 2016, 02:38:44 PM
 #122


If "coin markets" triple overnight I will congratulate you on your amazing luck. Until that happens you either come clean to your existing and potential investors, or I will continue to call you a liar.

So let me get this straight if the coin markets triple overnight I am not a liar, but if they drop from when the original investments were made I am the liar.

Ahh ok I see, so the exchange rate is what makes me a liar not what we ACTUALLY hold. Very interesting concept. thank you for again clarifying.

No, lying makes you a liar. You cannot show that you have 126 BTC.

I'm correctly calling you a liar because you claim that StakeMiners has 126 BTC invested.

He is probably not lying about people investing 126 BTC with him. What he is not saying is that he has lost over half the BTC value of their investments.

You don't understand. cyberpinoy coulda had class. He coulda been a contender. Leroy Fodor coulda been somebody, instead of a bum, which is what he is, let's face it.

He's not lying the same way Bernie Madoff was not lying about his investment gains. If his bank account tripled overnight the ponzi could have lasted longer.

EDIT EDIT:
But I do not appreciate being called a liar when i am not, I do not like biased attacks from competitors who are most likely trying to garner customers thru their attack, extortionists trying their best to get me to pay them to shut up. I do not appreciate a lot of things you guys do, which I could very well do right back and I do not.

Why can we not just be civil in crypto, why is there so much toxicity and always attacking the wrong people.

What am I competing with you at? Are you by any chance lying again?

Read your own garbage that you posted on these forums and on gethashing over the last year or so. Read the trust feedback you left to me and some of your other opponents.

If you want it to be civil why don't you start with yourself. For example you could admit that you didn't find out about bitcoin until 2014, apologize to kano for trying to school him on mining, disclose the full financial picture of StakeMiners, and stop throwing a fit every time you see something you don't like.

But we both know that's about as likely to happen as the "coin market" tripling overnight.

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January 05, 2016, 02:50:53 PM
 #123


If "coin markets" triple overnight I will congratulate you on your amazing luck. Until that happens you either come clean to your existing and potential investors, or I will continue to call you a liar.

So let me get this straight if the coin markets triple overnight I am not a liar, but if they drop from when the original investments were made I am the liar.

Ahh ok I see, so the exchange rate is what makes me a liar not what we ACTUALLY hold. Very interesting concept. thank you for again clarifying.



Why do you keep pointing out being at the mercy of the markets likes it's some get out of jail free card?

the fact that POS coins continuously go down in value because so many are created out of thin air is why we have been saying your business is stupid from day 1.

If by some miracle a coin's value goes up by 300% you won't be a liar, but that won't happen. Taking BTC and turning them into POS coins that go down in value is a stupid plan, and the fact you continue to spout your 126 BTC number even though coins have been withdrawn from that and the value of many of the coins has plummeted since you invested in them proves you are dishonest.

All we have asked for is transparency and you refuse to provide it.

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January 05, 2016, 03:00:33 PM
 #124

Answer just one question Suchmoon, and just answer the questions no additional nonsense needed.

On Netcoin I notice something very interesting.

On December 4th I see you have a total coins of 22,686,580 at a value of 23.36717792 BTC
On January    4th I see you have a total coins of 22,566,606 at a value of 25.50026562 BTC

So how is it StakeMiners can hold less Netcoins this month than last month yet the value in BTC is higher.

The price went up by about 10% from 103 satoshis to 113 satoshis while the number of coins barely changed.

Of course that results in a higher BTC value.

Was it a trick question or did you really not know the answer?

Edit: having read the rest of this thread it appears that you are confused. It looks like your investors gave you ~120 BTC, you used them to buy altcoins which have since reduced in value to ~40 BTC, but you're claiming that you still have ~120 BTC invested.

Any reasonable person would say that your investors have lost 80 BTC.

You seem to be saying that they didn't lose anything because the altcoin prices might go back up again? If so, that's silly. The current price is the current price. Currently your holdings are worth closer to 40 BTC than 120 BTC. Wouldn't you agree?

Your whole selling point seems to be that you can stake faster than solo-stakers can. But you still can't stake faster enough to keep up with the fall in value of the altcoins you own.

The biggest problem is that you are allowing people to withdraw their initial investment even though the coins you bought with their deposit have lost 66% of their value. Where is the shortfall coming from, if not from the other investors? What happens if someone withdraws 40 BTC of the remaining 120 BTC? Wouldn't you have to sell all your remaining altcoins yet still have 80 BTC of outstanding liabilities?

These are the things that are making people "libel" you I think. Can you clear them up and show us how you aren't really insolvent?

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January 05, 2016, 03:15:32 PM
 #125

Answer just one question Suchmoon, and just answer the questions no additional nonsense needed.

On Netcoin I notice something very interesting.

On December 4th I see you have a total coins of 22,686,580 at a value of 23.36717792 BTC
On January    4th I see you have a total coins of 22,566,606 at a value of 25.50026562 BTC

So how is it StakeMiners can hold less Netcoins this month than last month yet the value in BTC is higher.

The price went up by about 10% from 103 satoshis to 113 satoshis while the number of coins barely changed.

Of course that results in a higher BTC value.

Was it a trick question or did you really not know the answer?

He was tricking suchmoon to make the "gotcha" statement that the value of stakeminers' holdings is at the mercy of the market prices for coins, as if that was some earth shattering revelation.

It's not like people have been mentioning that from day 1 and that knowing how the market will react is something you learn via experience so people have been trying to find out how long he has been involved in bitcoin to evaluate how qualified he is to choose which coins to invest in.

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January 05, 2016, 03:19:26 PM
 #126

Was it a trick question or did you really not know the answer?

He was tricking suchmoon to make the "gotcha" statement that the value of stakeminers' holdings is at the mercy of the market prices for coins, as if that was some earth shattering revelation.

I edited my post as you were replying to it. I see the 'gotcha' now. His argument seems to be that since prices change we shouldn't use prices to determine the value of things and instead can arbitrarily claim that our holdings are worth whatever we want them to be worth.

It's worrying that someone responsible for other people's money can think like that.

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January 05, 2016, 03:57:12 PM
 #127

And how does a situation like this effect your chart? What does the exchange rate going up do to the respective holding of that or other coins whose exchange rate increases by by any percent, and hjow would this show in your little chart suchmoon?

It is all properly accounted for in my spreadsheet. Netcoin value went up by ~2 BTC but other coins went down by more than that resulting in a ~8 BTC total loss for the month.

So we can safely see your charts are not correct in calling me a liar, since at any time those values can change and your attack is merely at the mercy of the coin markets.

That is all we needed to know.

Thank you now we better understand your point and your agenda.

I'm correctly calling you a liar because you claim that StakeMiners has 126 BTC invested. The real amount is nowhere near that. It was ~50 BTC last month and ~42 BTC this month and is steadily going down. Therefore your statement about 126 BTC is a lie.

If at any point the real value of your investments comes within 10% of your declared value I will put "NO" in the spreadsheet. You can achieve that in one of two ways:

1) start publishing the real investment value instead of your bogus 126 BTC

or

2) show wallet addresses containing 126 BTC (or at least 114 BTC to come within 10%)

Again since it just wont get thru your head

So we can safely see your charts are not correct in calling me a liar, since at any time those values can change and your attack is merely at the mercy of the coin markets.

That is all we needed to know.

Thank you now we better understand your point and your agenda.

Get it now?


Those values change so much?  By 75+ BTC?  Where can I sign up for this wonderful service at?

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January 05, 2016, 03:58:25 PM
 #128

Was it a trick question or did you really not know the answer?

He was tricking suchmoon to make the "gotcha" statement that the value of stakeminers' holdings is at the mercy of the market prices for coins, as if that was some earth shattering revelation.

I edited my post as you were replying to it. I see the 'gotcha' now. His argument seems to be that since prices change we shouldn't use prices to determine the value of things and instead can arbitrarily claim that our holdings are worth whatever we want them to be worth.

It's worrying that someone responsible for other people's money can think like that.
[/quote]

It's a little worrying, but this outcome was so obvious that I don't really feel too bad. I also wonder how many people are actually there and how much he is actually responsible for. I don't check the websites where he did his advertising often, but when I have looked through those threads I didn't see as many people defending him as you find in other scam operations like cloud mining, so I'm not sure how many real customers there are.

If he really took in 128 btc and only had 40 btc worth of coins left wouldn't there be some people complaining like when various mining companies failed, when pirate stopped paying, when all the other scams eventually started to unravel?

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January 05, 2016, 04:06:05 PM
 #129

I just signed up at stakeminers to get access to the wallet details for myself.

I saw this:



There's no price for NET, but that seems to be the only coin held by stakeminers worth a significant amount.

According to coinmarketcap, NET is only traded on one exchange (if you don't count cryptsy, which seems reasonable): https://www.cryptopia.co.nz/Exchange - its price there is 90 satoshis.

According to my calculations then:

Quote
altcoin           units            price              value
-----------    --------       ----------        -----------
Netcoin        22581657       0.00000090        20.32349130 (https://www.cryptopia.co.nz/Exchange)
OKCash          1888129       0.00000187         3.53080123
HyperStake      1481394       0.00000106         1.57027764
HyperCrypto       32090       0.00001973         0.63313570
Tekcoin          340321       0.00000631         2.14742551
BitBean         5805054       0.00000012         0.69660648
Diamond            5125       0.00062916         3.22444500
BottleCaps       301533       0.00000419         1.26342327
Hobonickels      108708       0.00001700         1.84803600
PayCon           308034       0.00000149         0.45897066
Ratecoin         411533       0.00000100         0.41153300
Quotient         147603       0.00000080         0.11808240
                                                -----------
                                                36.22622819 BTC

Total holdings = 36 BTC.

If instead we use the cryptsy price for NET (https://www.cryptsy.com/markets/view/NET_BTC = 0.00000108) then the netcoin holdings are worth:

22581657 * 0.00000108 = 24.38818956 BTC, and the total holdings are worth 40.29092645 BTC.

This is much closer to suchmoon's findings than the official stateminers' valuation.

Note that I took the balances and prices from the stakeminers page and didn't attempt to verify any of them with actual reality.

It would be useful if the stakeminers page could be updated to include a calculation of the current value of the holdings, and an explanation of the difference between the actual and claimed investment values.

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January 05, 2016, 04:10:36 PM
 #130

If he really took in 128 btc and only had 40 btc worth of coins left wouldn't there be some people complaining like when various mining companies failed, when pirate stopped paying, when all the other scams eventually started to unravel?

Not if he's using long-term investor funds to make short-term investors whole.

People don't complain about Ponzi schemes until they can no longer hide their insolvency.

It appears that stakeminers still has around 33% of the coins they need to pay their liabilities. You'll see the complaints start when that number reaches 0%.

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January 05, 2016, 04:20:54 PM
 #131

Note that I took the balances and prices from the stakeminers page and didn't attempt to verify any of them with actual reality.

I did the same thing yesterday. To my knowledge StakeMiners uses Cryptonator for the exchange rates (at least the widget on the dashboard page does). NET was showing 113 sat then (edit: shows 108 now so apparently it uses Cryptsy rates).

The Cryptsy issue highlights another problem - there is no way cyberpinoy could liquidate any substantial amount of coins anywhere near those published rates. Yobit and Cryptopia don't have the volume. So if we tried to verify those rates - should we consider the order depth?

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January 05, 2016, 04:23:23 PM
 #132

The Cryptsy issue highlights another problem - there is no way cyberpinoy could liquidate any substantial amount of coins anywhere near those published rates. Yobit and Cryptopia don't have the volume. So if we tried to verify those rates - should we consider the order depth?

Absolutely... there's no way to trade even 40 btc at advertised rates... market depth just isn't there... he'd have to dig into the bottom of the offers to get back into btc...

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January 05, 2016, 04:25:08 PM
 #133

Absolutely... there's no way to trade even 40 btc at advertised rates... market depth just isn't there... he'd have to dig into the bottom of the offers to get back into btc...

I checked the market depth for NET on cryptopia. Selling 20 million NET would get you 0.20913306 BTC. There's no demand for it apparently.

I tried the same on cryptsy, but something's wrong there - selling 89k NET would get me MINUS 0.15 BTC?



I can't see how to find the total buy depth, but it isn't very much.

The next withdrawal from stakeminers could bankrupt them.

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January 05, 2016, 04:34:28 PM
 #134

I tried the same on cryptsy, but something's wrong there - selling 89k NET would get me MINUS 0.15 BTC?

http://i.imgur.com/I3smMf3.png

I can't see how to find the total buy depth, but it isn't very much.

The next withdrawal from stakeminers could bankrupt them.

Cryptsy's no trade fees most likely caused the negative... either that or they are stating through indirect means they don't have the coin to trade?  I guess there's a third option... Cryptsy truly is Craptsy...

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January 05, 2016, 04:36:09 PM
 #135

Absolutely... there's no way to trade even 40 btc at advertised rates... market depth just isn't there... he'd have to dig into the bottom of the offers to get back into btc...

I checked the market depth for NET on cryptopia. Selling 20 million NET would get you 0.20913306 BTC. There's no demand for it apparently.

I tried the same on cryptsy, but something's wrong there - selling 89k NET would get me MINUS 0.15 BTC?


It's Cryptsy, of course you would end up with -0.15 BTC  Grin

http://i.imgur.com/I3smMf3.png

I can't see how to find the total buy depth, but it isn't very much.

The next withdrawal from stakeminers could bankrupt them.

That's why he has this in the TOS:
Quote
Once your withdrawal request is received Stakeminers will calculate the available BTC in excess or earnings and advise you of your BTC payout for that month.

If your payout amount is less than the available BTC you will be paid out in full that month, if your payout amount is more than the available BTC you will be paid the BTC amount available this month and any balance owning will be paid next month

Example: You request a withdrawal of 10 BTC. Stakeminers calculates that 6 BTC are available for withdrawal this month. Stakeminers will return to you 6 BTC this month and 4 BTC next month.

https://stakeminers.com/terms.php

BTW the TOS has been updated with new spelling errors ("PRINCIPLAL") and other funnies (new altcoin policy takes effect "01 January 2015" and section numbering goes 24, 25, 26, 25).

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January 05, 2016, 04:41:10 PM
 #136

That's why he has this in the TOS:
Quote
Once your withdrawal request is received Stakeminers will calculate the available BTC in excess or earnings and advise you of your BTC payout for that month.

If your payout amount is less than the available BTC you will be paid out in full that month, if your payout amount is more than the available BTC you will be paid the BTC amount available this month and any balance owning will be paid next month

Example: You request a withdrawal of 10 BTC. Stakeminers calculates that 6 BTC are available for withdrawal this month. Stakeminers will return to you 6 BTC this month and 4 BTC next month.

https://stakeminers.com/terms.php

BTW the TOS has been updated with new spelling errors ("PRINCIPLAL") and other funnies (new altcoin policy takes effect "01 January 2015" and section numbering goes 24, 25, 26, 25).

Don't forget "...any balance owning will be paid next month..."

But I really like this one:

Quote
If more than one withdrawal is requested in the same month, the withdrawals will be paid out to full in the order they are received. The order will be established by the date on your email requesting the withdrawal. This may result in your waiting more than one month to receive your full principal.

In other news... If everyone heads for the door only the first person will get out...

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January 05, 2016, 05:24:59 PM
 #137

And how does a situation like this effect your chart? What does the exchange rate going up do to the respective holding of that or other coins whose exchange rate increases by by any percent, and hjow would this show in your little chart suchmoon?

It is all properly accounted for in my spreadsheet. Netcoin value went up by ~2 BTC but other coins went down by more than that resulting in a ~8 BTC total loss for the month.

So we can safely see your charts are not correct in calling me a liar, since at any time those values can change and your attack is merely at the mercy of the coin markets.

That is all we needed to know.

Thank you now we better understand your point and your agenda.

I'm correctly calling you a liar because you claim that StakeMiners has 126 BTC invested. The real amount is nowhere near that. It was ~50 BTC last month and ~42 BTC this month and is steadily going down. Therefore your statement about 126 BTC is a lie.

If at any point the real value of your investments comes within 10% of your declared value I will put "NO" in the spreadsheet. You can achieve that in one of two ways:

1) start publishing the real investment value instead of your bogus 126 BTC

or

2) show wallet addresses containing 126 BTC (or at least 114 BTC to come within 10%)

Again since it just wont get thru your head

So we can safely see your charts are not correct in calling me a liar, since at any time those values can change and your attack is merely at the mercy of the coin markets.

That is all we needed to know.

Thank you now we better understand your point and your agenda.

Get it now?


That is all we needed to know.

Thank you now we better understand your point and your agenda.

Get it now?

[/quote]

I'm curious who this "we" is?
I showed on https://forum.gethashing.com/t/ponzi-pos-coin-staking-stakeminers-com/3925/1298 that the majority of your "team" is fictional when you were trying to push this game out in May 2015.

Tai Bui (CFO) - No longer shows any affiliation to your business. (Showed previously CFO of Stakeminers.com on FB)
Michael Wilterdink (Chairman/BOI) - Shows the only affiliation to your business. Conveniently one of the Core Engineers for NET. (Doesn't have an active FB page anymore though)
Michael Zinck (Vice Chairman) - No affiliation to your business. (Nice FB review for stakeminers)
Nigel Dollentas (Social Media Officer) - Shows no affiliation, doesn't reply to ANY inquiries about it, and also is a writer at Bitcoinist.net . You would think he would reply to clear anything up. But maybe the fact he was UNDERAGE might have something to do with that.
Graham Smith (Secretary) - Hid himself wisely from being affiliated to you.

None of these people, except Michael Wilterdink, seems to be part of your group. None of your customers or personal seem to help sort out the same questions, each forum has for you and your operations.

Huskypower2015 (trustee) eventually did come on the GH thread after he was awoken to a lot of the news we were pointing out about your ponzi system. He made it blatantly aware none of the personal were ever informed about your decisions and had a nasty fall out to retrieve the monies he invested. Then you tried to blame the lack of communications on him. Which is a joke if you knew anything about business and being a CEO.

Who's left, you and MZ? You can tell us because you don't make anyone sign a NDA about your operations or even a good contract or agreement for BOI's/Trustee's to establish fundamental business operations.

We're still waiting to play pretend with you on what office suite you have at Pryce Business Park J.P. Laurel Ave Davao City, 8000. Lemme guess you own the building and don't need to list your office like the rest of the businesses there?

Where is stakeminers registered or incorporated at by the way? It seems like you collected a bunch of aliases at one time and made up a group, then called it a business.

Payouts are just one detail about how transparent this ponzi is.
I look forward to your ramblings.

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January 05, 2016, 11:43:33 PM
 #138

I hate to come back in here but I need to help you guys clear a few things up.

You guys are forgetting a really important factor in your assessment of insolvency.

You guys do understand that not everyone in our service are BTC depositors right? When we have a withdraw from a person who has invested any alt coins to our service he gets those coins back, we do not give him the BTC value of his coins. We are not an exchange, nor a savings bank, we are a Mining Service and a very good one.

We use a very fair depositing policy for direct deposits, as a matter of fact everything we do uses a very strict Fair to Everyone policy. And we are revamping the new direct deposit system to make it easier for those clients who want to use our service.

StakeMiners was set up as an income opportunity for people. This would include BTC investors as well. The "Cloud" Mining part is the fact that we do the work for the users, work that Stakers who are invested with us understand. A lot of POW biased people do not understand the work involved in Staking a basket of coins at the same time. Its easy to run 1 wallet and stake, or do a POW service, you plug and go, switch out as new hardware becomes available. Staking one cin is very easy especially if you pick a passive coin like Netcoin or Tekcoin. Setting Tekcoin up for daily stakes would be a bit more time consuming, but once completed its all easy from there. But staking 12 cons is a bit more work, and a lot more knowledge. Becasue things that work for one coin will not work for another.

Why should a service that offers people recurring weekly income with no work involved on their part be limited to altcoin users? Users also do not have to deposit BTC they can easily go and buy one of the coins we stake and deposit with that instead. I would even allow a depositor buying a sufficient amount of a Staking coin we do not stake and add that coin for him to our portfolio if he so wishes.

@ pixelpowered

I love how some people like to say things like:

I showed


Or "I proved" something, when in fact they did nothing of the sort.

Please understand YOUR opinion is not fact, and facebook is not the only resource about what people do and who they are.

But with any problem there is always a solution, Get a hangout up, or we can invite you to one of the many skype groups we are all in where you can talk to us via video to see we are all not the same person, and we will all gladly tell you to your face we are involved in StakeMiners.

All those people exist, and no matter if you like it or not we all meet and discuss the policies of StakeMiners

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January 06, 2016, 12:04:33 AM
 #139

words

Do you or do you not have 126 BTC or an equivalent amount of altcoins at today's exchange rates?

Have you had this amount AT ANY POINT during the last 3 months? Last 6 months?

If part of your deposits is in altcoins how do you value those coins in BTC? Since your "advertised" total of ~126 BTC doesn't appear to move in sync with the market it would appear that you are overvaluing those altcoin-only deposits as well?

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January 06, 2016, 12:25:57 AM
 #140

We are not an exchange, nor a savings bank, we are a Mining Service and a very good one.

You claim you have 126 BTC invested. Why does the math add up to less than ~40 BTC when you are quoting 126 BTC ?

Quote
altcoin           units            price              value
-----------    --------       ----------        -----------
Netcoin        22581657       0.00000090        20.32349130 (https://www.cryptopia.co.nz/Exchange)
OKCash          1888129       0.00000187         3.53080123
HyperStake      1481394       0.00000106         1.57027764
HyperCrypto       32090       0.00001973         0.63313570
Tekcoin          340321       0.00000631         2.14742551
BitBean         5805054       0.00000012         0.69660648
Diamond            5125       0.00062916         3.22444500
BottleCaps       301533       0.00000419         1.26342327
Hobonickels      108708       0.00001700         1.84803600
PayCon           308034       0.00000149         0.45897066
Ratecoin         411533       0.00000100         0.41153300
Quotient         147603       0.00000080         0.11808240
                                                -----------
                                                36.22622819 BTC
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