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Author Topic: LTCGear.com SCAM - Enough is enough, lets get some info together  (Read 54917 times)
Libertymind
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February 09, 2015, 10:15:02 PM
 #301

Is no one at this thread talking about the latest update from Chris at Gear's Home page , ie., that he apparently is asking everyone to pay a fee before he pays them 7 or 8 weeks of missing payments??

I don't read it that way. Wouldn't be surprised if he's going through all accounts manually, activating the balance feature and then also adding the costs to the same account. I again wouldn't be surprised if the costs are already taken out of the owed amount once a certain account is "activated". Then again, both options are speculation.

If any of that were happening I would be more surprised then I've ever been in my life. There is still zero confirmation of any balance showing in any user's account.

This is the kinda of thing that makes the public call for regulation.

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February 09, 2015, 10:44:55 PM
 #302

To Borisz

" It's a bit funny, because the weekly payout calculations are shown for every week still. "

As discussed previously in many posts, this simply a script running.
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February 10, 2015, 08:19:10 AM
 #303

We have some Colombian dogs ready for action Grin (Tenemos varios perros Colombianos listos para la accion).
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February 10, 2015, 08:24:40 AM
 #304

I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

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February 10, 2015, 09:45:05 AM
 #305

I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

very clever indeed, but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

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February 10, 2015, 09:51:02 AM
 #306

I have to admit this is the most clever run ponzi in a while. By starting to charge maintenance fee - let's say 15% of yearly revenue he doesn't have to pay last 8 weeks to anybody and still keep some illusion of legal business. I doubt he ever planned to use his special 'end of the year' wording this way but he will happily use it now. Only thing he needs is to LTC crash close to zero anytime this year and he can quit stating that mining is not profitable at all anymore...

very clever indeed, but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy

Its like atheist vs Christians everyone yell but nobody have a single argument/proof
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February 10, 2015, 09:57:12 AM
 #307

but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy
You would understand if you were among those who multiplied (not just roi'd, but multiplied by 3 or 4!) their investment during the insanely
profitable summer/fall of 2014 with LTCGear. There is no way that in 2014 LTCGear was run ponzi-like by paying from new deposits, the
profits were just much too high for a much too long timeframe. I don't know what happened after BF/CM, though..

But I'm not angry with you guys. If I just came to hear about LTCGear in december 14 and know nothing about the time before,
I would also be shaking my head and be wondering how people can still believe that something positive can happen.
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February 10, 2015, 10:16:26 AM
 #308

but yet still some people believe this guy, they never wake up and keep on defending this guy, not to mention few guys from litecointalk that keep on slapping each other who argue with their argument about defending this guy
You would understand if you were among those who multiplied (not just roi'd, but multiplied by 3 or 4!) their investment during the insanely
profitable summer/fall of 2014 with LTCGear. There is no way that in 2014 LTCGear was run ponzi-like by paying from new deposits, the
profits were just much too high for a much too long timeframe. I don't know what happened after BF/CM, though..

But I'm not angry with you guys. If I just came to hear about LTCGear in december 14 and know nothing about the time before,
I would also be shaking my head and be wondering how people can still believe that something positive can happen.

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.

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February 10, 2015, 10:43:17 AM
 #309

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.
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February 10, 2015, 11:00:53 AM
 #310

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

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February 10, 2015, 12:41:45 PM
 #311

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

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February 10, 2015, 01:01:15 PM
 #312

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

"Those guys" made money so yes i have faith (At least a little) in Chris.
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February 10, 2015, 01:04:04 PM
 #313

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

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February 10, 2015, 01:09:56 PM
 #314

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

yep that might be christian next reason, remember how long it takes for him just to post about the tax collection while there is nothing changing about the site?lets say tax will be collected at the beginning of march i believe he is just stalling time making everyone like an idiot

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February 10, 2015, 01:12:45 PM
 #315

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

yep that might be christian next reason, remember how long it takes for him just to post about the tax collection while there is nothing changing about the site?lets say tax will be collected at the beginning of march i believe he is just stalling time making everyone like an idiot

Hey if you don't believe anymore i will happily buy your accounts for 10 $ each.Think about it 10 sweet dollars.
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February 10, 2015, 01:17:01 PM
 #316

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

yep that might be christian next reason, remember how long it takes for him just to post about the tax collection while there is nothing changing about the site?lets say tax will be collected at the beginning of march i believe he is just stalling time making everyone like an idiot

Hey if you don't believe anymore i will happily buy your accounts for 10 $ each.Think about it 10 sweet dollars.

too bad i sold my 13k shares for 1.3 bitcoins to the believer in litecointalk, they will keep on believing this christian guy and worship him like a god of fortune

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.BTC-GREEN.       ▄▄████████▄▄
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.Ecological Community in the Green Planet.
❱❱❱❱❱❱     WHITEPAGE    |    ANN THREAD     ❰❰❰❰❰❰
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February 10, 2015, 01:19:29 PM
 #317

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

yep that might be christian next reason, remember how long it takes for him just to post about the tax collection while there is nothing changing about the site?lets say tax will be collected at the beginning of march i believe he is just stalling time making everyone like an idiot

Hey if you don't believe anymore i will happily buy your accounts for 10 $ each.Think about it 10 sweet dollars.

too bad i sold my 13k shares for 1.3 bitcoins to the believer in litecointalk, they will keep on believing this christian guy and worship him like a god of fortune

Well i hope he doesn't start paying again that would be pretty sad for you.
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February 10, 2015, 01:26:43 PM
 #318

At this point they shares are worth so little on the open market it seems foolish to sell it and give up any opportunity of your backpay and future use.

You're getting pennies on the dollar - If anyone is debating it I would suggest just waiting it out..
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February 10, 2015, 01:32:26 PM
 #319

I invested big on the 19th. I did not get paid that week or since then so yea I believe it is a fucking scam only.
I hope you understand that I'm not claiming that LTCGear is legit. Not at all.

not legit indeed, we will see what will happens after february ended, some guys got speculation about the 2nd gen which is in middle february

There will be an update for sure "2nd gen taking longer than expected, eta mid march".

Then those same guys will be "Ok, I'll wait til end of March then no more"... and on and on.........

You forgot the part where it will say: "There is also slight delay for balance payments and tax collection for a number of users caused by the DB alteration. ETA is next week."

And by 'number of users' he will mean everyone... Cheesy

yep that might be christian next reason, remember how long it takes for him just to post about the tax collection while there is nothing changing about the site?lets say tax will be collected at the beginning of march i believe he is just stalling time making everyone like an idiot

Hey if you don't believe anymore i will happily buy your accounts for 10 $ each.Think about it 10 sweet dollars.

too bad i sold my 13k shares for 1.3 bitcoins to the believer in litecointalk, they will keep on believing this christian guy and worship him like a god of fortune

Well i hope he doesn't start paying again that would be pretty sad for you.
the reassuring part is that if he starts paying (and collect tax... probably not in that order) they won't be able to pay either for all the shares they now have  Grin ... (the reboot of the scam is clearly for them... that might hurt a lot  Grin)

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February 10, 2015, 01:35:43 PM
 #320

You would understand if you were among those who multiplied (not just roi'd, but multiplied by 3 or 4!) their investment during the insanely
profitable summer/fall of 2014 with LTCGear. There is no way that in 2014 LTCGear was run ponzi-like by paying from new deposits, the
profits were just much too high for a much too long timeframe. I don't know what happened after BF/CM, though..

But I'm not angry with you guys. If I just came to hear about LTCGear in december 14 and know nothing about the time before,
I would also be shaking my head and be wondering how people can still believe that something positive can happen.


Actually if you run the numbers in Excel, set 8 weeks ROI, add 20% multiplication every 6 weeks and count with 50% sales growth weekly for first 10-11 weeks and then slowing down to 0% the system will be in weekly positive cashflow even until 13rd-14th week which is exactly the time this ponzi was running (last week of August till 1st week of December). Then you just close the shop.

Eg if you started with $10k weekly sales with 50% weekly growth first 10 weeks and then 0 grow, at the end of week 12 you have $1mil cash AFTER dividend payout. Then depending on sales growth/drop you have just to decide when to get 'hacked' Smiley

BTW no way could anybody multiply investment on ltcgear 3-4x, ROI was about 7-8 weeks and gradually worsened till about 11 weeks in december.

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