Back in 2014 when Bitcoin was 500 USD
A person named "Chris" owner " Beekeper", is a respected Litecointalk member started this website "Ltc Gear"
I was in a mood to set up my own mining farm and after extensive research, I have started using LTCgear cloud mining service, I have been with them for about 5 months and I have to say that results are really, REALLY great so far. No, their results are AWESOME!
They offered scrypt mining option (Litecoin and Feathercoin), scrypt N (Vertocoin) and X11 (Darkcoin). Users can buy Asic shares for scrypt mining and separate modifiers in case they want to mine scrypt N or X11.
The result is people get back their investment in just 2 months full ROI, depending on the selected coin, in most of cases ROI is even less.
WHERE ELSE CAN YOU GET ANYTHING SIMILAR TO THIS?
It is important for me to weather to trust this website or not, Chris is an active member on litecoin talk and Bitcoin talk forum to mention that LTCgear is not a new company, they have been online for over a year (mid 2013-Nov 2014). When they started, they used to sell FPGA chips, these were also available on ebay. Also their , support is quite friendly and boom people were investing like hell, Even though there were no shares people waited to invest in the company.
Check out the payout details weekly
I used to get paid in BTC, LTC, Vert or Dark
for 1 Ltcgear share you get 0.018 ltc, some people invested thousands of dollars
and for 1000 shares you get 18 LTC per week thats huge
That was huge money in 2 months or sometimes even less you can purchase modifiers and get your ROI much quickly
If you prefer Vert and you have purchased your scrypt N modifier, just input scrypt N address and select scrypt N from payout drop down menu. The same goes with Dark, input X11 address and select X11 from that menu. You can also get paid in LTC or BTC. The procedure is exactly the same, just input your address in the appropriate field and select your desired coin from the menu. Payouts are one a week, Friday or Saturday.
Also, when you purchase your shares, the status of your order changes to pending after a few hours. This mean it has been accepted and you will be paid next Saturday for the entire previous week. The status changes to completed after a week or so but as soon it states pending, you re fine.
##But what happened##
Bitcoin value started falling from 1000 $ in Jan 2014 to 300 $ it was slowly dropping and time has come that Chris "beekeeper" started launching schemes then I had a sheer feeling that he will actually runaway or turn this whole website to a ponzi
I was making a profit of 6000 $ per week with 30000 $ invested since 21 August 2014
Total Return was 26000 Usd by Nov 2014
I checked my wallet I had 110 Bitcoins and I was happy with what I made or got
The Cyber Friday Sale
I was not sure whether to invest or not, One of my partners was too lucrative and he made an odd decision we have to invested 20,000 worth USD into this offer and since then all started vanishing
My hard work, my whole world started shattering, with investors on my neck and ltc gear stopped paying
there were stories that website have been hacked or database has ben corrupted, many days i have spend hoping, I would get my money back and slowly my hope started fading
I wanted to go to a Police station and there is no one to listen to me , Every one laughed at me what coin,
People even formed groups on bitcointalk and litecointalk and there were large threads
Some of the fellow investor even went to Romania and found the person running the website ltcgear.com Chris Schipor
But he soon escaped and 100 s of peoples lives collapsed just like mine
Approx 10,000 Bitcoins would have been invested in ltcgear globally
I raised 30000$ and invested 90 BTC in june 2014 (My Plan is not to invest here but to buy ASICS but things went wrong, I admit that I would have made a fortune with 100 bitcoins in 2017 with are worth 1042401.50 US Dollar )
Later I stopped my website bitcoingroup.in, I stopped writing articles and stopped thinking about Bitcoins
All that I have earned, I invested in Cryptocurrencies, and in 2015 the worst fear is near bitcoin fell to 215 USD and my investors started backing me off, they want their investment back,
These were the questions asked
is it a scheme ?
Or an MLM ?
Or a money lending and borrowing scheme ?
Does Bitcoin have an office ?
Who runs bitcoin or the coins you have name them ?
I used to have huge amounts of Dash, And may currencies that were still in butting stage which were just lying in value below 10 Cents to 3 $ even less
I had to sell off my computers, Hardware, and furniture to repay my investors that's just 15 % of the actual investment roughly what I got after selling my infrastructure would be 10,000 USD and I even closed my website and I am clueless what to do, I even did not attempt to save 100 doge coins or any other altcoins, which I purchased in the same year.
But I know that bitcoin will still reach soaring heights, I looked for investment here and there and I wanted to start again
But in a country like India, when there were headlines in newspapers that bitcoin is a scam and fraud and RBI would not allow using Bitcoins in India, where ever I go it was all closed doors and some people even left the presentation in few mins
Nobody got the idea or agreed with me that Bitcoin can be converted to USD and later exchanged to INR
Now I am just left with 0.013 BTC (135.97 US Dollar as per 30 Nov 2017 3 years after my loss)
But there is still hope, I will get all that what I have lost my past glory and I have learned a lot, with all that I have lose
This information is all legitimate and I am a living example, You can ask me any queries on cryptocurrencies, as I am an ardent follower and believer of cryptocurrencies
The Best way to increase your amounts is to invest early and wait for your investment to reap
No mining service will give your penny back and there were fraudsters out in the world trying to take money from our pockets to theirs, and be careful and invest safely
I recommend Physical wallets and secured wallets dont believe any website save your currencies safely ,
I have lost more than I gained , I am going to write articles on how even exchanges scammed us
Don't fall behind icos and even if you want to do, Read carefully many times, learn the whole process and then invest.
Here are some of the links about ltcgear
http://www.cryptocurrencyminingreport.com/ltcgear-scam-dont-think-heres/
http://www.cryptocurrencyminingreport.com/tag/ltcgear-reviews/page/5/
Beekeepers profile https://bitcointalk.org/index.php?action=profile;u=44322
https://btcjam.com/listings/26893-ltc-gear-shares
let me know your views
I am @ajayspi
Resteem this article if you feel my voice should be heard
Thanks for sharing a real experience, I can feel how much the loss is for you
@OriginalWorks
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Yoo mate! What a story! This post should be at the trending page!
Keep the positive attitude up mate!
Please resteem My article and show some support
Отличная история и поучительная. Very good
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To receive an BiggerUpvote send 0.5 SBD to @minnowpond with your posts url as the memo To receive an BiggerUpvote and a reSteem send 1.25SBD to @minnowpond with your posts url as the memo To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memoHey man, great story. Glad to see you went trough that and kept it together, many people would give up. I'm following you and looking forward to read and learn from the next one :)
Sure @serenoblues
To mach scam at crypto. Thank you for sharing