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Author Topic: StakeMiners: restricted withdrawals, falsified stats, insolvent. Do not invest!  (Read 11760 times)
dooglus
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January 12, 2016, 12:54:45 AM
 #161

I wonder if the withdrawal policy will change now with this new revelation (i.e. paying out 100% of principal that depreciated by 67%).

It does seem odd that people have been withdrawing more BTC than they deposited when month on month the fund has been losing BTC value.

I tried lining up the stakeminers chart with the netcoin price chart (since stakeminers is mostly holding netcoin) to see how them compare:



Netcoin fell from 200 to 100 from April to December - a loss of 50%. So how did stakeminers assets lose even more than that? And why doesn't the netcoin peak (in July) line up with the stakeminers peak (in May)? Maybe the majority of stakeminers funds weren't in netcoin at the time?

Are there stats available which would answer these kinds of questions?

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suchmoon
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January 12, 2016, 01:28:12 AM
 #162

Are there stats available which would answer these kinds of questions?

I think the only way to do this prior to September would be to dig through cyberpinoy's posts to find his "declared" numbers and dig through blockchains to find the real value. I have numbers since September, click links to see balances of each coin:

September 11: 82 vs 107
https://bitcointalk.org/index.php?topic=1167201.msg12391086#msg12391086

October 19: 67 vs 117
https://bitcointalk.org/index.php?topic=1167201.msg12721192#msg12721192

November 7: 51 vs 122
https://bitcointalk.org/index.php?topic=1167201.msg12903420#msg12903420

December 5: 50 vs 128
https://bitcointalk.org/index.php?topic=1167201.msg13149294#msg13149294

January 5: 42 vs 126
https://bitcointalk.org/index.php?topic=1167201.msg13448270#msg13448270

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January 12, 2016, 01:32:46 AM
 #163

cyberpinoy seems to be making off topic posts lately in various threads on this forum so I asked him to come and address StakeMiners issues in this one... let's see what's more important for him - trolling or customer service.

trolling is way more fun.

Is he still claiming somewhere around 120 btc worth of deposits/investments?

"126.42169889 BTC Invested"

I'll update the spreadsheet soon-ish.

As long as you complete before Craptsy goes full GOX I guess.

Do you know a working block explorer for HBN? cyberpinoy's link doesn't work and Google doesn't know anything either.

I need a balance for this address: F5Vcy6RZxHz1JVtSLZzsRsx2iMKFY2VMRw

Balance: http://www.presstab.pw/phpexplorer/HBN/address.php?address=F5Vcy6RZxHz1JVtSLZzsRsx2iMKFY2VMRw

110,415.160647

This space not for rent...
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January 12, 2016, 01:40:12 AM
 #164

Here is NET wallet balance chart going back to May:



Edit: Most of the gains are from staking, so even though the exchange rate dropped he did gain some of that value back from the staking proceeds and I think this also gradually increased NET's weight in his portfolio.

That of course also raises the question where did he get the weekly payouts from if his largest altcoin wallet doesn't show weekly withdrawals.

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January 21, 2016, 03:29:21 PM
 #165

FYI to everyone.
Leroy will attempt to remove your review from the facebook page. The only remaining place he can attempt to lure people to scam them for his site.
Don't use the words such as "scam" or "ponzi" since its apparently abusive language, even though its true. Be more creative, much like Leroy has paid or convinced his associates to post reviews in his favor as of late.

Its somewhat funny that FB is only concerned with drugs and sexual content, yet if your looking to defraud or scam people then they simply retort with, 'just ignore it
'. Instead of removing it themselves.


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February 08, 2016, 06:30:26 PM
 #166

February update - looks like cyberpinoy is still lying. He's claiming that StakeMiners has 35 BTC worth of altcoins:



but I could only find ~24 BTC, a decline of ~40% from January:



A few caveats. I used the exchange rates and the wallet addresses displayed on StakeMiners website and only double-checked a few Bittrex rates (NET, OK, HYPER). For some of the coins I'm not even sure what exchange carries them after the demise of Cryptsy. XQN doesn't have a working block explorer so I kept the balance unchanged from last month. Most other coin balances (except BITB) declined so it would appear that cyberpinoy is selling them off.


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February 09, 2016, 02:53:11 AM
 #167

February update - looks like cyberpinoy is still lying. He's claiming that StakeMiners has 35 BTC worth of altcoins:



but I could only find ~24 BTC, a decline of ~40% from January:



A few caveats. I used the exchange rates and the wallet addresses displayed on StakeMiners website and only double-checked a few Bittrex rates (NET, OK, HYPER). For some of the coins I'm not even sure what exchange carries them after the demise of Cryptsy. XQN doesn't have a working block explorer so I kept the balance unchanged from last month. Most other coin balances (except BITB) declined so it would appear that cyberpinoy is selling them off.



Must be withdrawals...

This space not for rent...
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February 27, 2016, 01:53:08 PM
 #168

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February 27, 2016, 04:05:28 PM
 #169

He seems to have edited "Katrina's" comment and added another one from "Stakeminers". I guess the idea is that a "customer" suggested to get rid of principal withdrawals, like all other "cloud mining services", and "Stakeminers" will follow that great advice. Convoluted in some word salad ("remove from their weight" etc) but the end result is going to be this: next BOI meeting will turn this into full official ponzi with no withdrawals and a slowly drying trickle of weekly payouts.

By the way, "Katrina" - most "cloud mining services" are scams, and the ones "worth anything" actually allow a decent level of liquidity, e.g. Hashnest. It's not nice to lie.


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February 27, 2016, 04:47:15 PM
 #170

The reasons you are even "allowed" to withdraw "principal" from stake miners are all the reasons they gave at the beginning that they were better than cloud mining.

In cloud mining you can't withdraw your principal because the principal is spent* on miners. That doesn't apply to stake miners because the principal is just spent on other coins that could be given back at any time.

You can't withdraw the principal for cloud mining because you would take a loss by selling the machines, and impact others.

That shouldn't be an issue with stakeminers, unless of course the value of all those coins dropped significantly after they were purchased.

It's too bad no one had enough experience in the cryptocurrency world to foresee that problem when this thing started. Too bad nobody at the time questioned this plan or if Leroy had enough experience to choose the right coins to make sure this wouldn't happen.

O well, that's a shame.

*coins are actually spent on hookers and blow for the thieves, which ironically have more resale value than miners.

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BobLawblaw
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February 29, 2016, 11:17:14 AM
 #171

http://digiconomist.net/fraud-risk-assessment-stakeminers
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February 29, 2016, 03:42:08 PM
 #172

What would be interesting to see would be a chart showing how an investor's BTC value fared over time - whether the gains from staking ever outweigh the losses from holding a basket of alcoins.

Not since I started looking into it (mid-September-ish). At that point the picture was like this:

However the site is probably "under water". If you don't double-count withdrawals it paid out 26 BTC, i.e. 112 - 26 = 86 BTC until "break even". But it only has 82.5 worth of assets and that's in ideal conditions, i.e. if it somehow could liquidate those positions without crashing the prices.

Withdrawal totals collected from the payouts page:

https://stakeminers.com/transactions.php

... and it's gotten far worse since then.

I wonder if the withdrawal policy will change now with this new revelation (i.e. paying out 100% of principal that depreciated by 67%).

You lil FUD spreading crypto-extremist!

Staking is much more profitable than actual mining. FUDor said so!
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March 07, 2016, 02:57:30 AM
 #173

It's that time of the month again. And I have some good news! StakeMiners assets increased by 3 BTC, mostly due to NET going up from 57 sat to 73 sat. CON and BITB wallets seem to have been liquidated. There is no functiong XQN explorer so I just used the balance shown on StakeMiners site.



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March 07, 2016, 03:11:48 AM
 #174

You didn't actually think this is all good news, did you?

I added up all staked amounts for the week and I came up with less than 0.2 BTC. Cyberleroy has been claiming he's paying out 0.4 BTC per week for the last few weeks and trying to maintain a claim of 0.5% payout even though that doesn't add with anything else (0.4 BTC * 0.5% = 80 BTC, not that we need any more proof of Leroy's fail at percentages).



And probably the payout is a bit higher this week (0.83 BTC - 0.35 BTC withdrawal quota = 0.48 BTC). Where does that money come from? So much for "selling our stakes to make our payouts", huh Leroy? Help us understadn [sic] this please.

https://forum.gethashing.com/t/coloredcoin-io-assets-payout-thread/4771/244

Quote
And FYI it seems you guys do not understadn what exactly a Ponzi is we have not had enough deposits coming in to even pay out weekly payments. A PONZI has to take incomeing funds to pay out past clients, we are selling our stakes to make our payouts, SO i would appreciate you guys do just a small bit of research on what a Ponzi is before you keep throwing that word around like you understand it.


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May 08, 2016, 06:25:15 AM
 #175

You clearly took some time and even put together a case against Leroy. But your case is not very strong as you are missing, or have made up, vital portions of the case just to get your point across. This is what I consider misleading people to see your point of view. I never trust anyone who has to make up any kind of data just to finish a goal. If you do not have all the data on hand, then your proof is not proof at all. It is just a personal opinion or an assumption based on nothing. I will give you an example.

Quote from: suchmoon
XQN doesn't have a working block explorer so I kept the balance unchanged from last month.

Just in that example, the amount would be different. Why? Because its a staking service that generates coins on a daily basis. What I have noticed by reading this whole thread is you have proven you, not Leroy, is the actual liar. It also showed me the pure unethical tactics you are willing to use to get your deluded point across. Picking and choosing exchange rates as you please, picking and choosing numbers as you see fit, safely assuming anything you can to get your negative point across. Then above all trying to use the blockchain as your proof. That chain does not tell you everything. It's just a public ledger of address activity, not proof of everything.

When did you contact Leroy personally about your numbers you keep providing? Did you call him on the phone and ask him? Did you do one of the meetings he is always willing to do with interested people and ask him for that information? How do you actually know what it was he actually sold the coins for? Did he tell you?

No wonder he stopped replying to you.
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May 08, 2016, 06:33:00 AM
 #176

You clearly took some time and even put together a case against Leroy. But your case is not very strong as you are missing, or have made up, vital portions of the case just to get your point across. This is what I consider misleading people to see your point of view. I never trust anyone who has to make up any kind of data just to finish a goal. If you do not have all the data on hand, then your proof is not proof at all. It is just a personal opinion or an assumption based on nothing. I will give you an example.

Quote from: suchmoon
XQN doesn't have a working block explorer so I kept the balance unchanged from last month.

Just in that example, the amount would be different. Why? Because its a staking service that generates coins on a daily basis. What I have noticed by reading this whole thread is you have proven you, not Leroy, is the actual liar. It also showed me the pure unethical tactics you are willing to use to get your deluded point across. Picking and choosing exchange rates as you please, picking and choosing numbers as you see fit, safely assuming anything you can to get your negative point across. Then above all trying to use the blockchain as your proof. That chain does not tell you everything. It's just a public ledger of address activity, not proof of everything.

When did you contact Leroy personally about your numbers you keep providing? Did you call him on the phone and ask him? Did you do one of the meetings he is always willing to do with interested people and ask him for that information? How do you actually know what it was he actually sold the coins for? Did he tell you?

No wonder he stopped replying to you.

Thank you for bumping this thread, it's been long overdue. You have words, I have blockchain. You can't disprove blockchain by talking. And Leroy has already admitted that he has lost 70%+ of his investors funds, so why are you even wasting your time arguing this?

Tell Leroy to post his information publicly instead of expecting people to call him. It's called transparency and it does wonders for honest businesses. It hurts scammers though so if Leroy is scammer don't tell him to do that, we don't want him to get hurt.

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May 08, 2016, 07:10:54 AM
 #177

You clearly took some time and even put together a case against Leroy. But your case is not very strong as you are missing, or have made up, vital portions of the case just to get your point across. This is what I consider misleading people to see your point of view. I never trust anyone who has to make up any kind of data just to finish a goal. If you do not have all the data on hand, then your proof is not proof at all. It is just a personal opinion or an assumption based on nothing. I will give you an example.

Quote from: suchmoon
XQN doesn't have a working block explorer so I kept the balance unchanged from last month.

Just in that example, the amount would be different. Why? Because its a staking service that generates coins on a daily basis. What I have noticed by reading this whole thread is you have proven you, not Leroy, is the actual liar. It also showed me the pure unethical tactics you are willing to use to get your deluded point across. Picking and choosing exchange rates as you please, picking and choosing numbers as you see fit, safely assuming anything you can to get your negative point across. Then above all trying to use the blockchain as your proof. That chain does not tell you everything. It's just a public ledger of address activity, not proof of everything.

When did you contact Leroy personally about your numbers you keep providing? Did you call him on the phone and ask him? Did you do one of the meetings he is always willing to do with interested people and ask him for that information? How do you actually know what it was he actually sold the coins for? Did he tell you?

No wonder he stopped replying to you.



To be clear, I am bullying the shit out of crptoarch who IS NOT Leroy Fodor... But if he were, I would still be sticking it up that delusional fuck's ass. TBC, I will qut if Leroy Fodor paid me my standard 35 BTC extortion fee.
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May 08, 2016, 07:26:49 AM
 #178

To be clear, I am bullying the shit out of crptoarch who IS NOT Leroy Fodor... But if he were, I would still be sticking it up that delusional fuck's ass. TBC, I will qut if Leroy Fodor paid me my standard 35 BTC extortion fee.

I think you want crptoarch to pay the 35 BTC? Leroy doesn't have that much, only about ~30 BTC in StakeMiners wallets.

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May 08, 2016, 01:36:10 PM
 #179

You clearly took some time and even put together a case against Leroy. But your case is not very strong as you are missing, or have made up, vital portions of the case just to get your point across. This is what I consider misleading people to see your point of view. I never trust anyone who has to make up any kind of data just to finish a goal. If you do not have all the data on hand, then your proof is not proof at all. It is just a personal opinion or an assumption based on nothing. I will give you an example.

Quote from: suchmoon
XQN doesn't have a working block explorer so I kept the balance unchanged from last month.

Just in that example, the amount would be different. Why? Because its a staking service that generates coins on a daily basis. What I have noticed by reading this whole thread is you have proven you, not Leroy, is the actual liar. It also showed me the pure unethical tactics you are willing to use to get your deluded point across. Picking and choosing exchange rates as you please, picking and choosing numbers as you see fit, safely assuming anything you can to get your negative point across. Then above all trying to use the blockchain as your proof. That chain does not tell you everything. It's just a public ledger of address activity, not proof of everything.

When did you contact Leroy personally about your numbers you keep providing? Did you call him on the phone and ask him? Did you do one of the meetings he is always willing to do with interested people and ask him for that information? How do you actually know what it was he actually sold the coins for? Did he tell you?

No wonder he stopped replying to you.

So is your claim that they have enough xqn (coin with a 35 btc "market cap" and less than a dollar 24 hour volume) makes up all of the other value they have lost?

There is no need to contact Leroy, Leroy posted the addresses where he claimed the coins were, suchmoon kept track and compared the amount in the wallet and the current price to what Leroy was claiming.

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MEDIUM
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mybitcoin101
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July 31, 2016, 06:46:09 PM
 #180

To be clear, I am bullying the shit out of crptoarch who IS NOT Leroy Fodor... But if he were, I would still be sticking it up that delusional fuck's ass. TBC, I will qut if Leroy Fodor paid me my standard 35 BTC extortion fee.

I think you want crptoarch to pay the 35 BTC? Leroy doesn't have that much, only about ~30 BTC in StakeMiners wallets.

def a scam that posts all the time in james clayton facebook pump n dump group
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