[Ponzi] PoS Coin Staking - StakeMiners.com


#1892

This is still going on? Didn’t it implode when he started sending withdrawals through a totalizer? The human race really is ■■■■■■■ stupid, isn’t it?


#1893

Hey vance. When greed is involved it never stops.
Just look at how long XPY lasted.

We pushed Leroy/SM off of GH and BCT. They attempted to survive through constricted media. Now they’ve teamed up with Chantha (Crypto-City) to allow them to have a forum to enable their narrative. Before we move on to that topic. I wanted to see who’s actually alive in the group.
After pulling @s3v3nh4cks and @huskypower2015 out. It was apparent Leroy does not communicate at all properly and could easily lie to any or all the members of the group if they don’t stay constantly vigilant in this environment.
So a shout out needed to be done before round two.


#1894

But… stupid people typically don’t have much money…

Isn’t that shitshow still going on with some peeps?


#1895

Mutated


#1896

Welcome to the new server migration and thanks to the GHteam/community for allowing a great place to communicate about many different things in this world.

I’m looking for feedback from the community on these type of threads as we move forward. Judging responses by ‘likes’ isn’t the best indicator.
Even if you not directly involved with these sites, yet see the content that is posted about the operators, their practices, and our opinions of it all.

Please share your perspective of this type of content.
Do I or others go to little or in depth of some of the characters?
Do you enjoy me giving the direct link of evidence found?
What would you like to see more or less of?

That sort of thing. I look forward to the responses before my next posts.


#1897


#1898

me too!


#1899

I personally don’t like to be told what to think but I am interested in relevant information (including links) so I can make as informed a decision as possible. If some of the questions at the beginning of this thread had been answered, then there would have been no need for the research,

I applaud you for sticking by your convictions.


#1900

I was just pointed out to this, and I just first and foremost want to say that I’m responding to my own accord and this response is in no way influenced by Stakeminers. Since I became a BOI member and managed the Twitter for Stakeminers, there was talk about Stakeminers being a Ponzi from the start, and I kinda tuned it out. I’m willing to listen to anyone that would like to privately discuss this matter. I’m currently talking to Scott as well, so I’ll let you know if there are any updates on that front. I have read this from top to bottom, and will not being counter-offering, or taking you up on that offer. I would be willing to share my experiences however, so feel free to private message me and I’ll answer your questions to the best of my ability. I look forward to coming to a peaceful resolution to this. You’re obviously aware of my online presence on multiple sites, so feel free to contact me on any of them.


#1901

Great! I’ll message you later either on BCT or here.

Fantastic! That’s who you should talk to for advice in regards to writing in this environment.
Not us, not Leroy, or anyone else paying you to produce work of any kind.

Good. Having you decide something openly for yourself is what I was hoping for anyways.
*I feel Leroy, Tai, and Michael have been the horrid voice of SM and its last known staffers of it.

We would would love to hear such experiences. I’m sure others will contact you through here or on BCT. I have some other items to resolve first and will come back to this.


#1902

Leroy took 120 BTC and watched it devalue to 30 BTC while profusely lying along the way. The ponzi part came in later when he admitted he needs new deposits to keep it going and restricted withdrawals to 0.35 BTC. There are other numbers that don’t add up but in a nutshell it’s the loss of 90 BTC that defines what this is about.

Please don’t do whatever it is you want to do via PMs, it doesn’t help anyone. I don’t think there are any Stakeminers investors here anyway. If you have something to say - just say it.


#1903

Agreed.


#1904

oh Daffy


#1905

I’m fine with doing it public as well, I’ll be talking internally as well trying to find public proof and information from both sides. Ask me anything and I’ll answer them to the best of my abilities.

Oh and @Aethercollector : I was rereading your original post, and this is a little detail (probably was just in the moment) but you stated it was “25 cents a word”, but it’s actually $0.04 a word… :slight_smile:

@suchmoon : Do you have any proof you can show me? Right now you are just telling me information that may or may not be true. Not defending Stakeminers, but just trying to come to a conclusion on my own.


#1906

Leroy now admits that he only has ~30 BTC remaining:

Current values: Altcoins 31 BTC / Invested BTC 121= Diff -0.74%

(yes, he doesn’t understand percentages - it’s actually -74%)

He denied the issue until early January. E.g. facebook post on January 4:

Stakeminers.com is a crypto-currency altcoin Proof of Stake (POS) company with current holdings in 12 alt-coins totalling 126 BTC

And January 11:

Currently we have have 184 clients who have invested 126 BTC with a current altcoin value equivalent to 42 BTC. This a decline of 67%

I’ve been documenting the decline since September here and on Bitcointalk:

https://bitcointalk.org/index.php?topic=1167201.msg12391086#msg12391086

Leroy kept denying and accusing me of nefarious motives but I won’t bore you with the details.

After he finally admitted the 70% loss he instituted a weekly withdrawal limit of 0.35 BTC (total for all clients):

https://stakeminers.com/terms.php

  1. PRINCIPAL WITHDRAWAL CAP - EFFECTIVE JANUARY 25, 2016
    This is the maximum Stakeminers will payout in principal withdraws each week. The portion of principal withdrawal requests exceeding the maximum will be paid out in subsequent weeks until the full principal payment is made.

The maximum is 0.35 BTC per week. (This amount is dependent on the market value of the coins we stake at the time of withdraw and could increase with favorable market conditions)

18 BTC of withdrawals are queued up:

Principal Withdrawals
In progress: are 2 partials for 5 BTC and 6 full for 13 BTC = 8 for 18 BTC.

At the 0.35 BTC per week rate it will take him about a year to pay those out so you can see how this withdrawal policy is keeping the ponzi from collapsing. If he paid 18 BTC out he would only have 13 BTC remaining (of the 120 BTC collected deposits).

In addition to that he has made various other unsupported claims. For example the weekly payout has been quite consistently around 0.5% for the last few months however there is no explanation what that percentage refers to (0.5% of 120 BTC? of 31 BTC?) and it is not supported by the staking income visible on the blockchain:

https://bitcointalk.org/index.php?topic=1167201.msg14120688#msg14120688

He has also taken over Ratecoin (XRA) - one of the coins he’s invested in - and appears to be pumping it. You can find that all over the StakeMiners facebook page.


#1907

Correct :smiley:
Some of the things I say sometimes are to challenge the abilities of the user or community to see if they’re paying any attention to what I say.
If you were charging 0.25 per word it would be $125 for 500 words. If anyone took that offer I would quit my day job and go write with you or whomever can promise that kind of rate :stuck_out_tongue:

Speaking of compensation.
Here are some real questions. Thank you again for communicating openly about this as well.

How is Leroy or SM compensating you for your work being done?
Have you signed anything with Leroy or SM?

Please do look over @suchmoon’s mathematics for Leroy’s project.


#1908

Not really acceptable. You need to instill confidence in StakeMiners, and privately offering to answer questions, when there are so many public questions waiting to be answered, points to evasion.

How can you be confident of a venture that has squandered the value of 120BTC down to 30BTC ? Would you consider that a successful enterprise ? How on earth is he going to pay out his “shareholders” with such a tremendous deficit ?

How can you support a venture that is led by such an incredibly unhinged personality in Larry ?

Eg: If I ever saw any of my fund managers or Financial Institutions carrying on like old Larry, you can bet I would pull my holdings in a heartbeat.

EDIT: spelling


#1909
  1. I have not received any compensation for being a BOI member or Social Manager for the website. I volunteered.
  1. I have not signed any legally binding documents or contracts.

I have. I’ll be looking over the links in more detail later as well .


#1910

I am answering questions publicly now. Did you not see where I said I “I’m fine with doing it public”?

I wasn’t aware of the massive devaluation to be honest with you. I would not consider that a successful enterprise. And I have no clue how he’d pay out the shareholders, if I had to guess probably from an external fund. [quote=“Xian01, post:1908, topic:3925”]
How can you support a venture that is led by such an incredibly unhinged personality in Larry ?
[/quote]

I’ve talked to Leroy and all of the members of the BOI team over conference calls (the BOI meetings are something we do have). No one seems out of the blue nefarious or anything. Everyone seems like normal human beings, so it’s kind of hard hearing listening to this if I’m being honest.


#1911

Who attends the conference calls and how do they inform you of them?

That’s why we listen to the blockchain, numbers, and market outcomes being posted.

A good recent example of why muting an actor is important in this space and look at their actions…

I’m sure your aware of Craig Wright at this point attempting to claim the Satoshi title. Yet he wasn’t able to produce the correct key to confirm his claims.
Another example I can think of is to ask Scott Fargo about his interaction(s) with Josh Garza (in trial currently for close to $13M in damages).