Olivia
Online
lostplay
@lostplay_
Self appointed employee of the month at @MarketElites
Joined January 2022
723 Following
759 Followers
4.9K Posts
Pinned Tweet
Funny thing about this is when RPH told his team to raid my tweets it literally only boosted my reach,
Long awaited thread on everything very soon.
The truth will be out. This will be to protect any current, future or even previous partner of SS, and any person(s) in web3.
Although SS is probably done for unless there is an acquisition, @MarketElites will make our damaged community whole.
ReadyPlayerScam and ZanScam, please do everyone a favor and sell the company in full, refund/buyout everyone, and leave the space permanently. People who make fun of someone for being r*ped as a child do not deserve to be in this space.
‼️Steady Stack lied to you about their mining operation, in this tweet I will go into detail on how. Stack Mining has fallen face first into the pavement, leaving the investors to suffer the mistakes.
This post is fully based on my opinion from the information I gathered and should not be taken as pure fact. Do your own research, make your own opinion.
What is Stack Mining?
Stack Mining(SM), as referred to by the team, is a “white label” company of Mining Automatic(MA). To put it lightly it is the web3 arm of a web2 business. The main public* partner of MA is Alteri, commonly known on web3 as Enigma(this is their web3 arm). Alteri hosts most if not ALL of SM’s and MA’s machines. The founders tried to convey that they were building this from the bottom up, that THEY did most of Alteri's business, they do not. But I digress. Stack Mining is currently mining their “BTC” pool or SM1 in Paraguay, and their Kaspa pool or SM2 in North Carolina(same sites that Alteri owns). They sell or provide a Fractional Mining service, in which you will own a “share” of the hashrate without owning any of the actual miners.
Is it really Bitcoin Mining?
The team had advertised pre raise and during the raise of late last year that SM1 was a BTC mining pool with LTC and DOGE, in an effort to “hedge” against the BTC halving. However, what was not disclosed to shareholders of SM1 or any possible buyers was that 65%(around 183 miners) of the pool would be L7 (LTC/DOGE) miners right up until early February 24. This wouldn't normally be a problem except for the fact that the raise happened late Q3 LAST YEAR. Obviously for a purported BTC mining pool to stand, it should mine majority BTC. But even if it was a hedge, like the team said it would be, only a small portion of the pool should be allocated to the other miners, not 65%. By definition that is not a hedge. They flat out lied about this.
A simple look at the price action of LTC/BTC, you can see it has been in a HARD downtrend over the past year, and currently takes around 750 LTC coins for one bitcoin, while 6 months ago it took 500, and 12 months ago it took 300. Doge has been a slightly better story as of late, but even then the team decided to “hedge” against bitcoin with a boomer coin and a meme coin. Not only that, the difficulty to mine each coin is at all time highs. Talk about incompetence.
Now ONLY 25% of the pool are bitcoin miners, 107 M50’s(according to the team) and the final 10% are Kaspa miners, the number of Kaspa miners have not been disclosed, 10% Kaspa miners was given as an option to the community, which had an overwhelming vote for(shout out Axis). This is the only bright spot of the pool, Kaspa miners and BTC miners are performing very well at the moment, although not bright enough to outshine the glorious LTC/DOGE “hedge”. The $ value of each payout so far has gone up, but slightly less BTC each payout.
Best Rates in the World though right?
The second issue is the fee’s. The team over at steady stack for over a year, boasted the “best retail rates for crypto mining in the WORLD!” Well now, with the results clearly on display, it wasn't even close, you cant even consider it mediocre with the way they hyped up this “rare” and “charitable” service.
First off a 10% haircut, this haircut was to cover management, software costs, customer support, legal costs, and fees for swapping and converting the coins. This 10% haircut amounted to ~$85,000(based on the team claiming the pool size after fees was ~$745,000). Do you think you need 85,000$ for that? When your recent NFT mint raised over 5 million dollars! When your reroll product produced you tens of thousands of dollars from your own community so they can roll the dice to get “rare” factions, was that not enough too? When these funds we're supposed to build the foundations for mining, FOR THE COMMUNITY?
Well that's one thing, what about the 80/20 profit split? That's a pretty big split, especially when you compare it to other “retail” options, which I will do shortly. Well, they answered this one, and are still deciding... So first they reduced the fee split to 85/15.
Okay good right? Yes it was good, that would be a start but now only two weeks later they are back at 80/20. So why this? Is it really necessary to choose your own sustainability over the community whom you've already taken so much money from? Why not do a different form of fees as the community suggested, as a "constant" rate, so instead of the % split it could be XXXX amount of dollars taken out per payout. Because if and more so when BTC breaks 100k I can assure you the 20% they receive will go up. Do they still need 20% then? You tell me...
In addition to this the energy fee is a separate fee. This is not clear in their gitbooks or any previous announcements before the community requested repeatedly for more data on the miners so it can actually be transparent. Some including myself thought this fee would be included in the 80/20 split, it is not. As of the most recent payout the energy fees accounted for almost 25% of that periods gross rewards. This information was not available until the community requested it multiple times.
More Misleading/False Statements
For one they shared that since the miners are a depreciating asset you can get tax reductions. Although this is only something the owners of the miners can do, as the community owns fractional hashrate shares… this has nothing to do with them.
Onto a much bigger and alarming issue are the ROI estimates being considerably off. Let me explain.
With bitcoin being at 30k, they mentioned ROI could be anywhere between 14-22 months, which would be 4.54 - 7.14 percent monthly. Now with BTC at 70k you’d expect ROI to be at least ~15% monthly, but its not, the first payout ROI estimates were to be 4.4% over 30 days, and the most recent one being 6.1%. Now that is due to LTC/DOGE lagging heavily behind BTC, nevertheless these estimations were extremely misleading and false.
Now back to SM2, the Kaspa mining pool estimations for Kaspa were *conservatively* from 18 - 25 percent monthly. Now the most recent payout boasted a 7.48% monthly return. Now yes, emissions and difficulty have affected the production of these miners, not in the way you think, recently I purchased miners through ice river and am currently getting 10%, bi-weekly, after the setup fees and electricity. Thats almost 20% a month.
That brings me to my next issue, there ARE retail options that offer good and better rates than what SS does, you can even go straight to Enigma and mine with them, their own Kaspa pool has done better their EMF3 pool which started to mine late last year in mid November sits at 50% roi, 10% monthly so far. Even their main partner they claim to "have the best rates with" has done better. EMF 3.5 has basically done slightly better numbers and had an even lower barrier of entry, meaning you didn't have to hold a NFT to have access nor have to pay a goofy 10% haircut. Their communication also is by far incredibly better and consistent.
As I said Ice River which I'm using is better and has lower rates, the electricity fee is 8c which is fair. I am not paying any profit splits, hidden fees or a "haircut". For reference SM2 electricity costs are 6-7c/kwh. For SM1 it is ~4c/kwh. There are options you can literally find in a quick google research such as Bitkern or Compass Mining that offer a better service. Even RIOT or MARA.
And again, that brings me to my next point. The team also boasted a very low cost per bitcoin, in which they saw fit to compare themselves to Mara, Riot, and CLSK. Companies listed on the Nasdaq, to say "Stackers are mining at a cost basis of under 13k per BTC". I can assure you the ~3% payouts do not reflect this, not even close, I'm not even going to entertain the idea of doing the math, I cant even do it without knowing the prices of each miner which the team is so keen on keeping private... I wonder why.
Now did they say this to fluff up their operation? Or because of sheer incompetence? Both? I'm not sure. The number they shared for "cost per bitcoin" was 26k post halving, currently ~13k. Meaning for for every bitcoin they mine they are making that difference. I can promise you whole heartedly that is not the case, nor did they calculate their cost per BTC the same way MARA, RIOT or CLSK did. Nor do they mine ANYWHERE NEAR the efficiency of these companies, they are multi-billion dollar companies for a reason.
At least we bought the dip on miners right? No we did not, I am unsure of why the team even thought it was appropriate to say this or what validated them to make them think it was the truth. Miners prices do not fluctuate like Crypto, nor are they more expensive now then what they were 6 months ago, based on assumptions of what they we're purchased for they are either the same price or cheaper. It also 100% does not matter how "cheap" you get them when it takes your institutional mining rates team 3 months to bring the miners live.
Closing Statement
If for whatever reason if you are happy with this service, good for you. I personally expected excellence from this team and truthfully we received nothing even close to that. In the coming week I will talk about what went wrong with legends mint, stack algo, and the great ole options "masterclass". And then I will leave it at that. I will only be present in Steady Stack for Live trading with Beau... unless if I get perma muted or banned.
Now some of these points were touched on by the team, but nothing of true substance has changed, therefor it is important for this information to be transparent and available to all. It is important for the conversation to continue, cordially.
Upon the threats of being banned and still attempts to silence and misbrand community members who do speak up is not acceptable. Having your stackX and council members who shut down anyone who does so, is again, not acceptable. I have talked to over 50 people in dm's and chats sharing their own negative experiences with this project and its founders. You must understand the majority has had a bad experience, the silent happy majority are NOT the only ones who matter.
You created this environment, you stirred the pot, we just opened the lid. But I guess the smallest piggy banks make the most noise right Hassan?
The @SteadyStackNFT founders best accomplishment was driving out anyone who ever cared about the project, whether team members or community who put in so much effort
True colors show their way eventually.
This is how you speak about the community and others behind our backs?
The truth is out about SS, maybe I can finally move on, the community is saved, thanks to the team at market elites
Daily reminder readyplayerh and zanshake are scammers, @SteadyStackNFT
‼️Steady Stack lied to you about their mining operation, in this tweet I will go into detail on how. Stack Mining has fallen face first into the pavement, leaving the investors to suffer the mistakes.
This post is fully based on my opinion from the information I gathered and should not be taken as pure fact. Do your own research, make your own opinion.
What is Stack Mining?
Stack Mining(SM), as referred to by the team, is a “white label” company of Mining Automatic(MA). To put it lightly it is the web3 arm of a web2 business. The main public* partner of MA is Alteri, commonly known on web3 as Enigma(this is their web3 arm). Alteri hosts most if not ALL of SM’s and MA’s machines. The founders tried to convey that they were building this from the bottom up, that THEY did most of Alteri's business, they do not. But I digress. Stack Mining is currently mining their “BTC” pool or SM1 in Paraguay, and their Kaspa pool or SM2 in North Carolina(same sites that Alteri owns). They sell or provide a Fractional Mining service, in which you will own a “share” of the hashrate without owning any of the actual miners.
Is it really Bitcoin Mining?
The team had advertised pre raise and during the raise of late last year that SM1 was a BTC mining pool with LTC and DOGE, in an effort to “hedge” against the BTC halving. However, what was not disclosed to shareholders of SM1 or any possible buyers was that 65%(around 183 miners) of the pool would be L7 (LTC/DOGE) miners right up until early February 24. This wouldn't normally be a problem except for the fact that the raise happened late Q3 LAST YEAR. Obviously for a purported BTC mining pool to stand, it should mine majority BTC. But even if it was a hedge, like the team said it would be, only a small portion of the pool should be allocated to the other miners, not 65%. By definition that is not a hedge. They flat out lied about this.
A simple look at the price action of LTC/BTC, you can see it has been in a HARD downtrend over the past year, and currently takes around 750 LTC coins for one bitcoin, while 6 months ago it took 500, and 12 months ago it took 300. Doge has been a slightly better story as of late, but even then the team decided to “hedge” against bitcoin with a boomer coin and a meme coin. Not only that, the difficulty to mine each coin is at all time highs. Talk about incompetence.
Now ONLY 25% of the pool are bitcoin miners, 107 M50’s(according to the team) and the final 10% are Kaspa miners, the number of Kaspa miners have not been disclosed, 10% Kaspa miners was given as an option to the community, which had an overwhelming vote for(shout out Axis). This is the only bright spot of the pool, Kaspa miners and BTC miners are performing very well at the moment, although not bright enough to outshine the glorious LTC/DOGE “hedge”. The $ value of each payout so far has gone up, but slightly less BTC each payout.
Best Rates in the World though right?
The second issue is the fee’s. The team over at steady stack for over a year, boasted the “best retail rates for crypto mining in the WORLD!” Well now, with the results clearly on display, it wasn't even close, you cant even consider it mediocre with the way they hyped up this “rare” and “charitable” service.
First off a 10% haircut, this haircut was to cover management, software costs, customer support, legal costs, and fees for swapping and converting the coins. This 10% haircut amounted to ~$85,000(based on the team claiming the pool size after fees was ~$745,000). Do you think you need 85,000$ for that? When your recent NFT mint raised over 5 million dollars! When your reroll product produced you tens of thousands of dollars from your own community so they can roll the dice to get “rare” factions, was that not enough too? When these funds we're supposed to build the foundations for mining, FOR THE COMMUNITY?
Well that's one thing, what about the 80/20 profit split? That's a pretty big split, especially when you compare it to other “retail” options, which I will do shortly. Well, they answered this one, and are still deciding... So first they reduced the fee split to 85/15.
Okay good right? Yes it was good, that would be a start but now only two weeks later they are back at 80/20. So why this? Is it really necessary to choose your own sustainability over the community whom you've already taken so much money from? Why not do a different form of fees as the community suggested, as a "constant" rate, so instead of the % split it could be XXXX amount of dollars taken out per payout. Because if and more so when BTC breaks 100k I can assure you the 20% they receive will go up. Do they still need 20% then? You tell me...
In addition to this the energy fee is a separate fee. This is not clear in their gitbooks or any previous announcements before the community requested repeatedly for more data on the miners so it can actually be transparent. Some including myself thought this fee would be included in the 80/20 split, it is not. As of the most recent payout the energy fees accounted for almost 25% of that periods gross rewards. This information was not available until the community requested it multiple times.
More Misleading/False Statements
For one they shared that since the miners are a depreciating asset you can get tax reductions. Although this is only something the owners of the miners can do, as the community owns fractional hashrate shares… this has nothing to do with them.
Onto a much bigger and alarming issue are the ROI estimates being considerably off. Let me explain.
With bitcoin being at 30k, they mentioned ROI could be anywhere between 14-22 months, which would be 4.54 - 7.14 percent monthly. Now with BTC at 70k you’d expect ROI to be at least ~15% monthly, but its not, the first payout ROI estimates were to be 4.4% over 30 days, and the most recent one being 6.1%. Now that is due to LTC/DOGE lagging heavily behind BTC, nevertheless these estimations were extremely misleading and false.
Now back to SM2, the Kaspa mining pool estimations for Kaspa were *conservatively* from 18 - 25 percent monthly. Now the most recent payout boasted a 7.48% monthly return. Now yes, emissions and difficulty have affected the production of these miners, not in the way you think, recently I purchased miners through ice river and am currently getting 10%, bi-weekly, after the setup fees and electricity. Thats almost 20% a month.
That brings me to my next issue, there ARE retail options that offer good and better rates than what SS does, you can even go straight to Enigma and mine with them, their own Kaspa pool has done better their EMF3 pool which started to mine late last year in mid November sits at 50% roi, 10% monthly so far. Even their main partner they claim to "have the best rates with" has done better. EMF 3.5 has basically done slightly better numbers and had an even lower barrier of entry, meaning you didn't have to hold a NFT to have access nor have to pay a goofy 10% haircut. Their communication also is by far incredibly better and consistent.
As I said Ice River which I'm using is better and has lower rates, the electricity fee is 8c which is fair. I am not paying any profit splits, hidden fees or a "haircut". For reference SM2 electricity costs are 6-7c/kwh. For SM1 it is ~4c/kwh. There are options you can literally find in a quick google research such as Bitkern or Compass Mining that offer a better service. Even RIOT or MARA.
And again, that brings me to my next point. The team also boasted a very low cost per bitcoin, in which they saw fit to compare themselves to Mara, Riot, and CLSK. Companies listed on the Nasdaq, to say "Stackers are mining at a cost basis of under 13k per BTC". I can assure you the ~3% payouts do not reflect this, not even close, I'm not even going to entertain the idea of doing the math, I cant even do it without knowing the prices of each miner which the team is so keen on keeping private... I wonder why.
Now did they say this to fluff up their operation? Or because of sheer incompetence? Both? I'm not sure. The number they shared for "cost per bitcoin" was 26k post halving, currently ~13k. Meaning for for every bitcoin they mine they are making that difference. I can promise you whole heartedly that is not the case, nor did they calculate their cost per BTC the same way MARA, RIOT or CLSK did. Nor do they mine ANYWHERE NEAR the efficiency of these companies, they are multi-billion dollar companies for a reason.
At least we bought the dip on miners right? No we did not, I am unsure of why the team even thought it was appropriate to say this or what validated them to make them think it was the truth. Miners prices do not fluctuate like Crypto, nor are they more expensive now then what they were 6 months ago, based on assumptions of what they we're purchased for they are either the same price or cheaper. It also 100% does not matter how "cheap" you get them when it takes your institutional mining rates team 3 months to bring the miners live.
Closing Statement
If for whatever reason if you are happy with this service, good for you. I personally expected excellence from this team and truthfully we received nothing even close to that. In the coming week I will talk about what went wrong with legends mint, stack algo, and the great ole options "masterclass". And then I will leave it at that. I will only be present in Steady Stack for Live trading with Beau... unless if I get perma muted or banned.
Now some of these points were touched on by the team, but nothing of true substance has changed, therefor it is important for this information to be transparent and available to all. It is important for the conversation to continue, cordially.
Upon the threats of being banned and still attempts to silence and misbrand community members who do speak up is not acceptable. Having your stackX and council members who shut down anyone who does so, is again, not acceptable. I have talked to over 50 people in dm's and chats sharing their own negative experiences with this project and its founders. You must understand the majority has had a bad experience, the silent happy majority are NOT the only ones who matter.
You created this environment, you stirred the pot, we just opened the lid. But I guess the smallest piggy banks make the most noise right Hassan?
Mute hammers going around in @SteadyStackNFT for spreading "misinformation", such as asking about the equity raise that has had no real update to shareholders, or how $stack isnt for the community just so the team can make a quick bag. We know what this means, thread soon.😎
Is it misinformation or information you dont want public...
No one has ever succeeded.
Yet.
sell whatever garbage crypto you own, buy @every_thing , come back in 6 months. I thought AI coins was the new hot thing and yall still fading smh.
I promise you from the bottom of my heart I dont care about your bags<3
For full transparency, I am no longer an employee at @SteadyStackNFT
Won’t go into details but it’s time to find a new environment that is uplifting and enables me to hit my goals this cycle
Gave my all to this company and community this past year and just know I love you all so much🙏❤️
Sinking ship
it worked, he literally came back today, next time I tell you something... listen
RETWEET IF YOU LOVE JESUS
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