LTCGear.com SCAM - Enough is enough, lets get some info together

[Borisz]

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 just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Nope... Consensus from about 4 different forums I follow is not a single person has a balance showing.. I'd venture a guess that's a pretty good indicator of LTCG customers overall...

But... at least we got an update saying he wants more money!!!

Oh, ok. So most likely nobody got a withdraw yet. It's a bit funny, because the weekly payout calculations are shown for every week still.

As said, before I bought my shares I asked him if there were any other expenses like maintenance fee or something. I did this because all other cloudminers had this. And he said there would be some annual ~10$/share. Actually I was wondering why I didn't have to pay that already. (Not that I terribly want to give away money)

Not sure what to think.

[Cryptophile]

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 just logged in and saw this.
Honestly, before buying shares a long time ago, I emailed him and at that time he said there will be an annual recurring fee for maintenance and replacing faulty hardware.

Balance is still showing up as "pending", I assume for anyone. Or is there anyone who has something?

Nope... Consensus from about 4 different forums I follow is not a single person has a balance showing.. I'd venture a guess that's a pretty good indicator of LTCG customers overall...

But... at least we got an update saying he wants more money!!!

Oh, ok. So most likely nobody got a withdraw yet. It's a bit funny, because the weekly payout calculations are shown for every week still.

As said, before I bought my shares I asked him if there were any other expenses like maintenance fee or something. I did this because all other cloudminers had this. And he said there would be some annual ~10$/share. Actually I was wondering why I didn't have to pay that already. (Not that I terribly want to give away money)

Not sure what to think.

$10/share?  

So someone who bought at 3k0 would owe $30k?  Seems unlikely.

The calculation updates are also scripted, so that means nothing...

[Gws24]

lol, with 10$/share we're paying him 20 to a 100 times what we paid for shares ;-)

for reference, when I bought my first shares in november they were like 0.5$/share and the last shares I bought were 0.14$/share. Didn't he mean per 1000 shares because otherwise......

[Borisz]

lol, with 10$/share we're paying him 20 to a 100 times what we paid for shares ;-)

for reference, when I bought my first shares in november they were like 0.5$/share and the last shares I bought were 0.14$/share. Didn't he mean per 1000 shares because otherwise......

Sorry, its probably not per share. That would be waaay too much. I'll check my emails and re-read.
Maybe per package bought or something...

Anyway, it was a long time ago, so the figures have probably changed quite a bit.

[Libertymind]

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.

[nelsonroberts]

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.

[otorongo]

We have some Colombian dogs ready for action (Tenemos varios perros Colombianos listos para la accion).

[skuser]

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...

[erwin45hacked]

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

[Warbigold]

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

[tonygal]

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.

[jackbox]

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.

[tonygal]

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.

[WEBcreator]

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

[Danz0r77]

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.........

[Warbigold]

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.

[Totscha]

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...

[arallmuus]

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...

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

[Warbigold]

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...

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.

[arallmuus]

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...

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