Reply To: [HZ Mint] – New Asset on Horizon Asset Exchange (ROI in ~20 weeks)


Horizon: 0.00 HZ
28th December 2014 at 5:33 pm

Indeed the recent issues do raise a number of concerns. I do have at least one of LTCG’s LTC addresses tracked, and it is showing that the address is receiving 50.xx LTC every couple minutes amounting to ~$55k/week for that address only, so Chris is definitely hashing away at LTC with some serious power to be able to find blocks so often. Of course $55k a week is not nearly enough to cover everyone’s payouts as I know around a dozen people with combined weekly payouts equalling this amount. But I highly doubt this is the only address Chris uses, and am pretty sure he has multiple addresses with similar transactions.

All-in-all, I think LTCG investors are pretty safe, and that the recent delays are due to legitimate upgrades. Of course we will never know the true nature of LTCG’s operation, but personally I have a lot of faith in the operation.

We will have a confirmation about the future of LTCG after this weekend determined by whether LTCG investors receive payouts. In the case that there are further delays or that we get evidence that it is going under, we’ll decide whether to go with a trading focused model, or simply go with the hardware option. A last option would be for me to put up some sort of buyback walls whenever possible so that shareholders can sellback their HZmint shares. In this latter case, the buyback will likely be done over a few weeks, with walls put up every week until all investors have exited. However, tbh and as a disclaimer, it was mentioned that the asset’s main revenue is dependent on cloud mining and thus runs the normal risks associated with such. As such I don’t think I can bare the entire burden of risk, though a significant portion does fall on me for managing the project.

Anyways, all this is simply speculation as of now. I will provide updates when I get more info. and feedback on potential routes to go with and input are greatly appreciated. I will be on mobile for the next few days, and the forum keeps giving me 522 server dc’s so I will post and respond to questions whenever possible.