Ninjastic
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Board Service Discussion (Altcoins)
Re: LTCgear.com, the best scrypt/scrypt n/X11 cloud mining service, ROI 2 months
by
sickfancy
on 28/11/2014, 15:27:01 UTC
Quote from: david123 on November 23, 2014, 09:36:18 PM
Quote from: eugene2878 on November 23, 2014, 11:38:36 AM
Quote from: david123 on November 23, 2014, 11:18:03 AM
Quote from: beekeeper on November 23, 2014, 03:08:11 AM
About the 40K0 deal - its negative balance for us now, but will bring more customers next week.
Can someone explain what this shall mean? Is this to explain why there was quantity -1 showing up for the
40k0 pack or does he say that the shares were sold below the "production cost"??

The shares he sold are not backed up by hardware. So he sold them in advance to get money for new chips. This is my understanding, but I might be wrong.
At first, I didn't like this interpretation. Chris admits selling shares that aren't backed up by any HW, hmm, not  good. But now it's really charming, like a revenge for bfl and all the preorder scammers: we customers get payouts in advance for miners which aren't yet produced. Sound great to me Cheesy

Missed this!  If its negative balance, then by definition current situation is a Ponzi scheme.  Only hope is for new miners with more efficient chips, assuming of course that this is in works, to be produced before ltcgear runs out of new buyers.

I joined this game about two weeks ago.  This information and continuous price drop is a very bad sign.  We can only hope that ltcgear can turn this thing around.