As I was doing research I came upon the Litecoin Miner site. At first glance it resembles many of the cloud mining sites I had been looking at, but then I noticed the payouts. The free version gives you a profit of 0.001 LTC per day! And if you pay them some LTC to upgrade you can get even more per day.
The 1.0 version generates 0.05 LTC, the 2.0 generates 0.2, 3.0 generates 0.5 and the 4.0 version generates a whopping 10 LTC per day! That seems amazing. It only costs 5 LTC to upgrade to the 4.0 version. And, they note, there are unlimited withdrawals for the 4.0 version. Give them 5 LTC and the next day you get 10! Sounds too good to be true!
Unlimited withdrawals … wait, so the other versions don’t have unlimited withdrawals? Most sites I have come across have minimums before withdrawing, but as long as you meet that minimum you can keep withdrawing. Strangely, I couldn’t find any information on what the minimum withdrawals are or information on what limits there are.
Reading the reviews on other sites they overall got highly negative feedback. Many people said they upgraded but then got locked out. Others claimed for a while the site did pay them, but then some error started happening. And a person doing the free version said after 4 days they stopped getting paid.
My Ponzi scheme radar started beeping at that point, so I did what every rational person would do … I signed up for the free version!
A counter appeared and slowly begin to increase – I guess that is the LTC I am earning. After a day or so I went to withdraw all that earned LTC – only to find they only allow the free version to withdraw 0.0001 (~2 cents) and you can withdraw only once a day. Ah – so that’s the limited withdrawals. My counter keeps going up but I’ll never be able to withdraw it all … unless I upgrade!
But what’s the upgraded versions limits? Can’t be found.
And are they really actually mining anything? Or are they paying me 0.0001 LTC from the person who paid 5 LTC for the 4.0 upgrade?
I have no idea. What I do know is it has been 10 days and every day I click the withdraw button and they send me 0.0001 LTC. Will I upgrade? Heck no. Even though my Ponzi radar stopped beeping because I sat on it, I am sure if it was still working it would be beeping even louder. But I will keep clicking to get my 2 cents because I can make more LTC doing that then by using the cool USB Miners I bought from Ebay a few weeks ago!
Anyone else know of questionable sites that keep on giving for free?
