Riiight. Because we all know you can buy hashing power cheaper than pbmining sold it for. So what he is doing with all that purchased mining power now?


Developer? He is listed as sole owner of the company. And their profiles were public.


ex-girlfriend by the look of it. She owns the house where the business is registered. And may be the only lead you're gonna have to find Boyo.


And you're an idiot. The only reason it collapsed is because all of you stopped pouring in more money than you got out of it.

Ive always said AM(hash) made a huge error of judgment letting hashie resell their product. Amhash admitted they dont even know the identity of the operator. All they did was give credibility to a scam, a scam that even competed with them.

What do you know, hashie suddenly doesnt look too healthy either. Problems with payouts and operator is posting encoded message that contains lyrics with "Conceal, don't feel, don't let them know
Well, now they know!'.

And why not? Because they dont own a smartphone with camera or because they dont have it?

How exactly do they trace phone's 100's  of Km's from the nearest cell tower?
Besides, they seem to know where it is, it just takes time to get there.

And despite all that, 7000 new 'users' signed up, and you didnt deem it necessary to halt sales.

For scrypt based altcoins, the difference between GPU and asic isnt nearly as big as for SHA. Im no expert in altcoin mining, but afaik, GPU's will be cheaper per MH  while efficiency is only 'a bit' worse (factors, not orders of magnitude). So if you have really really cheap electricity, it could make sense.

Here is the problem though: they claim to mine with 7970's, which would yield ~700Kh each. They have sold over 6000MH. Thats ~8500 of such GPU's. SO seeing 60 in a picture doesnt exactly convince me. In the early days of bitcoin mining, many of us had larger private farms.

Tell that to the passengers of the Costa Concordia. You're 40x more likely to die on a ferry than on a plane:
http://961wodz.com/what-is-the-safest-way-to-travel-by-plane-car-train-space-shuttle/

THere are over 100000 commercial flights per day. Close to 40 million per year. If anything, Im always amazed by how rare crashes are.   If you accept just one in a million odds of a plane going down due to technical issues, weather, pilot error or crime, there would be a plane crash almost every week.

So you're saying you believe he actually has a 5+PH mine (and the most efficient one in the world at that) ?
If so, why can he no longer pay out in full instead of just a tiny tiny % ?

So randomly turning your website on and off to provide cover for delayed payouts is now considered a proof of legitimacy?

That post is actually another reason I think they are on the brink of collapse. Maybe they will 'surprise' me, by doing what I predicted earlier:

https://bitcointalk.org/index.php?topic=905567.msg9952743#msg9952743

But that was before 75% discounts, before their scam coin collapsed and before they claimed attacks on the payout system and whatever.

The 0.1 BTC 'least useless post of the month' bonus may expire one day, but not yet.
Masters Cub cloudy mining is always open. Contracts will be honored long after Im dead. You may want to read beyond just the thread title though.

Hashprofit may be on the brink too. 75% discounts seems rather desperate, their own scamcoin plunged towards nothingness, and now claims of being hacked:
https://hashprofit.com/en/news/vnimanie-na-servis-hp-vedetsya-khorosho-skoordinir/

You called me "a God" for not having been scammed once in nearly 4 years in bitcoin (yes, you got that latter part right).  Let me just say that in the land of the blind, one eyed man is king, or if you prefer, a God.

Let me make this clear; I do feel for the people that lost btc to scams like MtGox or similar, because applying common sense and doing basic due diligence would not have revealed the actual threat. I could have been fooled by MtGox, and to some extend even was, as I did not believe the pit was as bottomless as it turned out. I guess that makes me only a half-god.

But thats quite something else as these glaringly obvious ponzi's like pbmining. It doesnt even have anything to do with crypto currencies. There is no difference in sending  dollars via Western Union or bitcoins  if you send it to some Nigerian Prince who promised you $500K from an inherited gold mine concession or to some anonymous crypto mining website that promises high mining returns. Common sense and basic due diligence should have prevented anyone from getting scammed. I mean, common, not even his identity or address was public. Even most Nigerian scam emails will give you a name and phone number at least.

Im sure Im upsetting you for rubbing it in, but fuck me Im also getting tired of trying to educate people, having thrown shit at me for doing it by all the greedy ponzi feeders, then reading the same sob stories year after year.

Interesting. But we will need a few more collapses to trigger an avalanche of people waking up and stop feeding those ponzi's, which will cause even more collapses. Cant happen soon enough, and in particular I hope a few young ponzi's collapse before even day 1 investors came close to profiting. From collapses of older ponzi's like pbmining and presumably ltcgear, I fear many will learn the wrong lesson, namely that you have to get in early.

No. Legitimate services can (and do) prove their hashrate before they take orders. Moreover, especially those that trade contracts on exchanges allow you to compare sold vs (provably) deployed hashrate. So they cant do this.


Its a good MO in the bitcoin world to assume every service to be a scam until reasonably proven otherwise. Quite a few companies have passed that hurdle with no problems, as no legitimate company should in a world thats ruled by a public blockchain. Hashprofit most certainly has not.

A group of people claiming that pink unicorns dont exist isn't by any means a proof.
In fact you can not possibly prove they dont exist. Does that mean they are real?

The exact same thing applies to mining hardware backing cloud mining contracts. While trivial to prove, no one can disprove their existence. But if there is as little proof for their existence as there is for the existence of pink unicorns, you have to be bonkers to assume them to be real. Bonkers or a scammer trying to sell pink unicorn droppings or cloudmining contracts.


Actually, that wouldnt prove anything, other than its likely a scam, but assuming it did, please note its only possible to provide that kind of evidence after the collapse, when it helps no one. So stop asking for impossible proof of non existence (ponzi claims), and begin asking for proof of existence from the cloudmining services.

Im always interested in buying stuff with my bitcoin, but when the seller is on the other side of the ocean, it rarely makes sense due to shipping/taxes. So the vast majority of offers dont interest me, and I can usually only find out after actually clicking the topic and reading it.

Therefore I propose that forum be divided per continent or economic block (US/EU/Asia/other or something), while also having a "global" section for those purchases where buying across continents can be sensible.

This is funny: For this Q&A, we'd like to do things a little differently.
We want to hear from your friends and family -- the ones who don't know what Bitcoin or Paycoin is!

Translation: we dont want tough questions from people who understand this scam