I´m sure as hell not going to let 10 BTC lie in escrow for a year.
Just how long do you think it would take for an investment in pbmining today to ROI? And what other investment do you think you'd miss out on that pays 2x more than pbmining? |
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Ponzi 101 math. Revenue > payouts = ponzi still alive.
If their stats are to be trusted, they sold ~1.5PH last month.
1500000GH x0.0014 = 2100 BTC
How much did they pay out ?
Ball park, lets assume they paid for the full 4.4 PH during the last month, thats about 1650 BTC.
2100>1650
Capiche?
Ponzi 101 done wrong  If the money in/money out ratio is that bad, time to pull the plug is over long ago. If you check the paying HYIPs, no one has such a bad ratio. Ratio? What ratio? 2100-1650= ~450 BTC profit last month. Or $177K Are you telling me you cant keep a website going for that? |
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Im taking bets difficulty wont go down even once this year.
Still taking the bet? How about a 0.1 BTC friendly bet? I admit its beginning to look precarious. I assume you're betting mostly on the upcoming difficulty change? If so, ok, Im game for a 0.1 BTC friendly bet that the next difficulty will be higher than the current one. Though I have been more certain about other things :p |
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Maybe do this ponzi discussion say once a month
for the next year
what do you say men ?
Instead of a discussion, how about a bet? Or letting me short this ? How about I double your ponzi profits if I turn out to be wrong, and I get to keep the principal if I was right? We use escrow. How much are you willing to bet on pb still honoring its contracts 12 months from now? Not everyone at once. Surely the pb believers would like to earn 2x more no? |
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So, if it´s a fact that this is a scam, according
to the scambusters here, then why is it still
operating?
Ponzi 101 math. Revenue > payouts = ponzi still alive. If their stats are to be trusted, they sold ~1.5PH last month. 1500000GH x0.0014 = 2100 BTC How much did they pay out ? Ball park, lets assume they paid for the full 4.4 PH during the last month, thats about 1650 BTC. 2100>1650 Capiche? |
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Maybe do this ponzi discussion say once a month
for the next year
what do you say men ?
Instead of a discussion, how about a bet? Or letting me short this ? How about I double your ponzi profits if I turn out to be wrong, and I get to keep the principal if I was right? We use escrow. How much are you willing to bet on pb still honoring its contracts 12 months from now? |
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Who is the idiot here?
You, if you havent sold/withdrawn your profits. And if you have, then you're a scammer because then its clear you also realize its a ponzi, but you got out in time. |
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Dan pace does exist and I wish he was not involved in this,
Soon he will wish it too. |
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Dont confuse Jimothy & Puppet as idiot. They are from HaveLock/AMhash trying to switch people to that service, though it is more than assured to lose your money with that notorious Chinese cartel.
ROFL. Ive been accused of many things, but being a shill for havelock or AM(hash), thats definitely a new one! Why not cryptx while you're at it? (I would lie if I said it didnt apply to jimmothy though). |
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"its fact pbmining has done nothing to prove its not a ponzi" - they don't talk about that - its FACT!
"and in your opinion this is fact that PBm is Ponzi" - fact=proof?
So you cant read. No I dont say its proven PB is a ponzi, no more than I care to prove the Nigerian prince that emailed me yesterday about a gold mine concession he inherited is a scammer. It is my opinion that without proof to the contrary from PBmining (or from that 'prince'), that only a blithering idiot would bet money and assume either to be anything other than a scam. |
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Gaw has had Bitmain come and say they have bought 5PH Long after they had been selling it. If you read my thread, you'll have noticed I suspect GAW 'preselling' hashrate. Hashie is saying they're backed by ASICMiner and RockMiner and this may just be their AMHash Show me the link; yes they do resell AMhash which is legit. They have provided zero evidence for their own hashrate and no asic vendor has vouched for that to my knowledge. btw If you just look at hashie's homepage and see how they stress that AMhash is '100% real and proven' without saying a thing about their own hashrate, it says enough doesnt it? Why would they even resell someone else's hashrate if they have their own farm and can operate cheaper than amhash? Its a stupid move by amhash to allow a scam to resell their product, but that doesnt change the fact they are almost certainly scam. |
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There are a few companies that are confirmed to be mining we have: Hashie, Cex and Gaw (they have proved 5pH) Hashie proved nothing. Showing up on btcguild stats with ~80TH for what could have been less than a day is no proof. That can be achieved easily by renting rigs at nicehash for 0.0144/TH/day. So what they showed was literally worth ~ 1 BTC. Or maybe 2 at the time. From GAW Ive seen pictures, which is something, but doesnt prove ownership, it doesnt prove they still own it today and it certainly doesnt prove their actual hashrate matches or exceeds what they've sold. Cex.io there is little to no doubt they have the hashrate. Same goes for AMhash, cryptx, Hashnest and KnCloud. Those are the only cloudmining companies Im aware off that provide a mining address and/or allow you to direct your hashrate to your own pool, and therefore provide credible proof of not running a ponzi or fractional reserve scam. |
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I know what you're trying to prove guys (Puppet, jimmothy), and I understand that. Discussion is good, but the truth is that what you write here (PBmining is ponzi), that is just your opinion, not facts!
No, its fact pbmining has done nothing to prove its not a ponzi, even though thats ridiculously easy. Its your opinion that doesnt matter, its not an opinion anyone sane would share. Hmm.. please think about this one more time.. Fact is that PBmining is not discussing about that - and in your opinion this is fact that PBm is Ponzi? are you serious? Can you read? |
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I know what you're trying to prove guys (Puppet, jimmothy), and I understand that. Discussion is good, but the truth is that what you write here (PBmining is ponzi), that is just your opinion, not facts!
No, its fact pbmining has done nothing to prove its not a ponzi, even though thats ridiculously easy. Its your opinion that doesnt matter, its not an opinion anyone sane would share. |
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I will quote a guy from another thread - I think it fits here:
"Those who trusted Mt. Gox for their brand have paid for it, but those who went for anonymous BTC-e are still trading. Brand is irrelevant in a six years old economy."
There is a huge difference. BTC-E has an economic incentive to remain honest. They are making a killing on fees and may well earn a lot more by staying in business for years to come, than by running away with customer funds. OTOH, the only way these cloud mining ponzi's can make a killing (or even a profit at all, most likely) is by running off with your money once new sales < payouts. |
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No opinion on grmining.com, puppet? Their offer sounds nice but I couldn't find much information..
These ponzi's are a dime a dozen, new one's started seemingly every day. If you do come across one that doesnt raise 5 or more of my red flags, or for other valid reasons does not strike you as a scam, do post it and I will check it out. Everything else, especially if you "cant find much info" should be treated as ponzi until proven otherwise. And to be clear, that burden of proof lies with the "company". |
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CloudMining.website monitoring is here.
Yeay, another cloudmining "review" site full of ref links giving 5 star reviews to obvious ponzi's. Please kill yourself. |
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Its no lie (in the case of cex), its basic math. Their maintenance fees are expressed in fiat currency, as you would expect since no electricity company I know off accepts bitcoin. Its not like they hide it: http: // cex.io / maintenance (remove spaces, no idea why the forum hides the link otherwise) As difficulty goes up, mining revenue goes down. And in particular, as bitcoin price went down, the % of fees went up. The logical consequence is that your per GH revenue plummets and potentially goes negative. This is no different than if you have a miner at home, and you (try to) use your mining revenue to pay the electricity bill. Of course cex.io was HUGELY overpriced, but since its an open market, you can blame buyers for that, not cex.io. If buyers had done the math, they wouldnt have bid those prices. If you bought anyway, its your fault, not cex.io You know, when I saw your post title, I thought your post would be about the actual lie cf cloudmining; the fact most cloudmining 'companies' arent mining at all, and are simple or elaborate ponzi schemes. If you go base your next investment on apparent profitability alone, you are guaranteed to end up with a ponzi, because only ponzi's can offer (fake) mining contracts at well below cost. Its ironic cex.io is one of few cloudmining companies offering sufficient transparency to conclude they are legit. Overpriced, yes, but there is enough reason to assume they are not gong to run away with your money, like the vast majority of cloudmining ponzi's. More details here: https://bitcointalk.org/index.php?topic=860400.0 |
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Im interested, particularly in the "three steps", as I still have a few unused reloadable visa cards.
If you want to send first, I'll take one, pay upon reception and leave appropriate feedback.
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