Cloud Mining News & Reviews

LTCGear Litecointalk Updates (Feb. 12th 2015)

LTCGear, a cloud mining service that had announced an indefinite delay in payouts in December 2014 due to outside attacks has made an updated announcement on February 12th, 2015.

The owner of LTCGear who has the forum ID 'beekeeper' made an updated announcement and answered some questions from concerned users who were waiting to receive their payouts.

Here are some highlights from the announcement:

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-There will be a maintenance operation that will take place soon in which hardware power would be turned off

-Maintenance operation should take about one week to complete

-There are no plans for sales of Gen 2s or ASICs at this point

-All balances, including balances that are currently 'pending' will be cleared in the next few days (around a week frame), after which coins will be withdrawn via the new user balance system

-'beekeeper' is likely to show up in the forums again early next week

The overall explanation is blurry, and we're not sure if additional funds would have to be sent before any of the missing payouts can be withdrawn (we hope this is not the case but it could very well be...).

LTCGear has always been an enigmatic service, but to this date, it remains a mystery and we're really not sure what to make of the service and its administrator.

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