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Author Topic: StakeMiners: restricted withdrawals, falsified stats, insolvent. Do not invest!  (Read 12147 times)
Xian01
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February 27, 2016, 01:53:08 PM
 #161

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suchmoon (OP)
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February 27, 2016, 04:05:28 PM
Last edit: November 28, 2020, 11:04:54 PM by suchmoon
 #162

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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Edited 2020-11-28 to fix a broken image
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February 27, 2016, 04:47:15 PM
 #163

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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February 29, 2016, 03:42:08 PM
 #164

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
Last edit: November 28, 2020, 11:07:56 PM by suchmoon
 #165

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 functioning XQN explorer so I just used the balance shown on StakeMiners site.

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Edited 2020-11-28 to fix a broken image
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March 07, 2016, 03:11:48 AM
Last edit: November 28, 2020, 11:09:41 PM by suchmoon
 #166

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).

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Edited 2020-11-28 to fix a broken image

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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Edited 2020-11-28 to fix a broken image
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May 08, 2016, 06:25:15 AM
 #167

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
 #168

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
 #169

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
 #170

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
 #171

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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July 31, 2016, 06:46:09 PM
 #172

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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August 06, 2016, 03:02:47 PM
 #173

107btc from 900 investors ? Sounds like none sense talk. I often see these sites with fake stats. You get HYIP's that claim after only a few weeks to have half a million $ and even more it's just crazy. Then people still go and fall for it. Gosh I think scams will forever be around because there is always some sucker around for them to take advantage.

 
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May 30, 2017, 02:34:37 AM
 #174

So... I know it's been a VERY long time... but is there any new info on our friend?  Is he still staking away with alternate math?

This space not for rent...
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May 30, 2017, 03:07:50 AM
 #175

So... I know it's been a VERY long time... but is there any new info on our friend?  Is he still staking away with alternate math?

He has finally admitted that he pissed away 100+ BTC.

https://bitcointalk.org/index.php?topic=990219.msg18933763#msg18933763
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May 30, 2017, 03:25:24 AM
Last edit: May 30, 2017, 03:39:48 AM by vancefox
 #176

So... I know it's been a VERY long time... but is there any new info on our friend?  Is he still staking away with alternate math?

He has finally admitted that he pissed away 100+ BTC.

https://bitcointalk.org/index.php?topic=990219.msg18933763#msg18933763

Think he's part of the whole ISIS thing going on there?  Almost forgot he was in the Philippines...

EDIT:  Very sad (not really) that I wasn't the only one thinking he would jump in with the ISIS crowd...

This space not for rent...
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