Complaint of fraud against ‘contractual offerings’ by self-professed Bitcoin mining operation www.pbmining.com (piggyback mining) which is based in Canada. Specifically, my complaint is against the following business entity Name: DIGITAL MINING STORE Address: 314 33RD STREET EAST City/Province: SASKATOON, SK Country/Postal Code: CANADA, S7K0S4 Sole Proprietor: JASON BOYKO On or around the beginning of 2014, Sole Proprietor of Digital Mining Store, Jason Boyko set up www.pbmining.com as a ‘Bitcoin Cloud Mining Operation’ which purported to sell cloud contracts related to Bitcoin hardware, in return for freshly ‘mined’ Bitcoins - the process which produces Bitcoins. It has been stated that as well as having their own locally-based ‘mining farm’ they also have mining operations in Iceland. After several months of running this scheme, which has become evident to have no Bitcoin Mining Hardware operational, the scheme is now running down, paying out only a fraction of what would be earned, had the scheme be producing freshly mined Bitcoins, as per the algorithm which is necessary to produce said Bitcoins. Jason Boyko has used hard marketing incentives such as referral commissions of 10% and ‘giveaways’ to encourage consumers to promote the service to new customers. This is evidently, nothing more than a pyramid scheme, encouraged to consumers by Jason Boyko that it has been a legitimate mining operation. Jason Boyko continues to insist that the operation have been legitimate by addressing customers on the website forum www.bitcointalk.org. It has become evident that www.pbmining.com is an elaborate pyramid scheme and has no real mining operations, of which it is advertised to be and I urge your department to look into this issue fully, as Jason Boyko has clearly reaped millions of dollars in earnings from the victims who have bought into this fake operation. yours sincerely, A very good precis of the situation, Raskul. However, I would say that from previous personal experience, some authorities are not too impressed by multiple identical complaints. |
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I now am convinced its not the rich in the US that have money but the loonies.
No it's not a nationality thing mate, look at the number of new posters with not first language English. It's a Bitcoinland thing. |
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we on the other hand have several mining farms, we have physical locations with miners where we have no problems to prove we have quite a vast amount of mining power.....
Go on then. And point at a pool. Then get some peace and quiet, and count the huge rise in investors. |
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.... our revolutionary universal crypto-currency miming machines... Freudian slip? I was looking forward to "meeting the team" so I looked at the FAQs: "..our founders are a diverse group of Mining Experts, Engineers, Entrepreneurs and Investors, you can read more on "Our Team" tab." Can't find the "Our Team" tab.  |
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http://pbmining.ruSo it was probably the russian mafia after all.  I just hope the people who posted the personal details are happy now. Now everyone loses. everyone was always going to lose dumbass, that's how a ponzi works. The longer it goes on, the more money they take in, the more people lose. Thats actually not true, there is many people that ROI'd! (specially early investors, the one with more risk) Yes, but that's Ponzi thinking. Early investors such as VC's become shareholders in a legitimate venture, taking risk because the business model may work out to be flawed, but making good ROI if things turn out as predicted. 'Investors' in PB were not shareholders, they weren't even investors, they were customers that bought a product from PB which claimed to have a sustainable business model. That product's appeal was the ROI. If the product was genuine, then all investments, early or late, would carry the same risk. "Everyone" in this case means the totality of investors: sure, by luck or judgement some people will come out in front when a Ponzi collapses. If it's by luck then that's the definition of luck, if it's by judgement i.e. they knew it was most likely a Ponzi and played it, then they are essentially stealing by proxy from the late coming majority. And enriching a scumbag in the process. Blaming people who hasten the end of a confidence trick for its collapse is ridiculous, unless you are saying that these schemes have some sort of legitimacy simply because they exist. |
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LOL, not quite flat lining yet but definitely not looking too healthy. Anyway, as 'Eric Rosby' said, the Superheroes are on the case.  Quake in your boots, ponzi scum... Ladies and gentlemen, I give you SUPERPUPPET |
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Each post give you 1 activity, but it's limited to 14 activity per 2 weeks.
Yes of course. But this 2-weeks period is starting in Tuesday (i think), so if someone open an account in monday and in this same day will write 14 posts and in wednesday 14 posts more, can have 28 activity points.. Yes he will, because he has posted 14 times in each of the two 14 day periods, but that's only a one off hit, it will hardly influence anyone. The only relevance of the <----- post or activity count for me is if it is a very new account in a lively thread. If I want to know more about a poster I read his profile, scan his past posts and ALL his trust feedback. Activity is related to status, this is an unusual example of these two heroes agreeing about something The next logical step would be to cut the status of people who haven't posted in X time interval.
You can't be a Hero if you've not posted the past week, you can't be Senior if you've not posted the past month. It'd help with the buying/hacking old accounts to prop scams.
This. |
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Lol @ Gleb. What is it with you (and bitcoin) with Joshuas? I hope that whatever he paid for the account, gusti the second feels that he has had a good ROI |
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Good work Puppet, the thread link was amusing too, especially after Phileas turned up. Allowing account trading is absurd, imo, presumably some libertarian dogma in action. The two people supporting it here: A trader in them, and "a great person" who bought a turkey for $10 and is now complaining about it. https://bitcointalk.org/index.php?topic=887680.0There is nothing wrong with selling your account. If the owner needs money and someone else is willing to pay for an account there is no reason why this transaction would be in any way wrong. Just because someone has completed trades successfully does not change the above, some may say it would be a greater justification for an original owner to selling his account when he needs money as he has previously contributed to the Bitcoin economy.
..
Yes , I think the same. If the new "owner" is a great person I don't see what is the problem. |
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From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.
They can increase the maintenance costs but need to provide bills to prove they have higher costs. If they mine they should get mining revenue in accordance to what is to be expected with the current difficulty and the hash power they have minus the maintenance costs. If they cannot provide any bills or pool payments, you would theorically have a case against them. maintenance costs were built into the initial contract cost, so the payouts should be exactly in line with the network difficulty, no less. Yeah, I understand that, but should? I am not an 'investor' in this so I can't access their T&C, but somewhere in this thread I read an excerpt which basically said "We can do what we like and you have no redress". I know that in contract law you cannot have clauses that are onerous or deprive the signee of their legal rights. Could someone please share the T&C's here? |
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From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.
Why do you know that he is still pay out? He pays every Sunday, does he not? He paid last Sunday, a little late. Therefore payment is up to date. Even if he announced negative payments this Sunday i.e. a weekly loss, would that be illegal? Outrageous maybe, but illegal? |
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From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.
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why are people still advertising referral links for this?
To push other persons to a scam hole and earn some coins.  ~~MZ~~ You are right there Muhammed, but your words would carry more weight if you weren't advertising Mr. Rosby's similar invention yourself. |
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what is the stand?
A very good, complex question. |
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holly shit you are dumb- its just a counter - you dont think those numbers are actually tied to any machine do you? if what you are saying is true,(pb) then their would be variance over and above 99% as much as there is below --- think before you insist on being stupid
It's ALL speculation ! Until PBM come clean about it NOBODY including you or me knows precisely what's going on with their operation ! An excellent basis on which to invest in them. |
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or just buy a proper rig and mine Oh look, it's a caveman  These people wouldn't do that sort of archaic thing, this is Mining 2.0, everyone's an Investor these days, busy maximizing their diversified portofolios. The cloud is where it's all at these days, aptly defined in Websters as: "something that obscures or blemishes". |
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The guy is probably laughing his ass off at the bloody wankers here.
me included.
Hey, galdur, chill out mate, anybody would think it's a full moon the way you're carrying on So, where´s the thread that Sherlock Holmes put up with the info that he and the other sherlocks found out ? Something tells me you know This is the thread that outlines how Jason Boyko created a phishing site just before PB Mining. https://bitcointalk.org/index.php?topic=885224.0 |
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The guy is probably laughing his ass off at the bloody wankers here.
me included.
Hey, galdur, chill out mate, anybody would think it's a full moon the way you're carrying on |
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I say BE PRACTICAL, not noble...
PRACTICAL, not noble = I don't give a fuck if it's a ponzi stealing from other people to pay me, I don't give a fuck if I'm enabling a sleazeball to run off with people's capital, I don't give a fuck about the massive reputation damage to Bitcoin from these never ending scams.... JUST GIVE ME THE MONEEEZ!!!! Fuck off with your imaginary 12,000 GHShit. |
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if i can give u anything for ur helping hand to make my positive rating visible just tell me mate Requesting a mass add to the Default list along with the above message is seen as attempting to purchase an add to the Default Trust list. In short: Buying Trust. This will be given a negative every time and if you need an explanation of why, it only solidifies Vod's reasoning was sound. Unfortunately your comment is ignorant and and uninformed..... No, this whole sorry episode is due to your hero's ignorance of the trust system and uninformed attempt to buy into it. As he says its a matter of lost face
Get over it. |
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