The sad thing is, he still has the referral link in his sig, along with 3 other likely ponzis and he'll probably argue that those services are legit until they run away with his money too.
Cheer up, at least under US laws, what he is doing is not just illegal, it subjects him to the same penalties as each of the ponzi's he is promoting. (b) Prosecution of persons who aid and abet violations
For purposes of any action brought by the Commission under subparagraph (b) or (d) of section 77t of this title, any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided. http://www.law.cornell.edu/uscode/text/15/77o |
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Pirate ran his ponzi well beyond its peak, he continued paying almost to the point he didnt have any BTC left.
That didnt buy him much leniency with the judge. $40M fine, currently in jail and facing criminal charges that can land him in jail for 40 years.
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It appears pbmining ponzi just collapsed. Who's next?
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Gotta admit, didnt expect him to just stop paying right after his identity was revealed. I would have expected that when he still had the illusion of being anonymous, but you'd think the smart thing to do with your ID out there, is continue payments (and increase your skimming) until you came up with some cover story or you had your tickets to costa rica in hand.
it's a very foolish way to play it by simply not paying out. up until this point, the crime was a deceitful and fraudulent delusion that the scheme would work for 5 years and beyond... taking the 'payouts' to himself implies intent and pre-meditation. quite a difference in the eyes of a court - most people don't realise, being foolishly deceitful whilst thinking they can run a HYIP scheme is one thing, actually committing the end crime by halting the payouts to investors, is quite another. if one were Jason, one would be shitting oneself at this moment in time. IANAL, but I doubt there is much if any difference from a legal POV. He was hosed the moment MrTeal proved his ID. The only difference is that he is making it clear as day to everyone now, which will cause an avalanche of police and other complaints in the coming days. Did he have an exit strategy ready in case his ID was made public? Id like to think he did not, but who knows. He is sure gonna need one. |
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Gotta admit, didnt expect him to just stop paying right after his identity was revealed. I would have expected that when he still had the illusion of being anonymous, but you'd think the smart thing to do with your ID out there, is continue payments (and increase your skimming) until you came up with some cover story or you had your tickets to costa rica in hand.
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To tell the truth I'm not feeling an idiot. I had, since today, 40% profit from pb mining.  So how does it feel being complicit in this scam and ripping off others with your false endorsements? Cant speak for everyone, but Id rather be seen as an idiot than a thief. |
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gas stations and bitcoin are a perfect fit. Read an article a while ago that gas stations pay more in credit card fees than they make in profit.
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Really?? Highest GH/W...and what would that number be??  That looks like a real chip to me. Honestly. |
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Thanks. If u have the copy of his photo from FB, please provide that. Before I reach his profile, it was deleted. Wanna see the face and with that photo I may fetch out some more info.
Here you go:  |
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Looks like a framing attempt.
You think whoever was trying to frame you had a time machine? Old Raw Registrar Data December 25, 2013
Domain Name: PIGGYBACKMINING.COM
..
Registrant Name: JASON BOYKO
Registered On December 24, 2013 THe other is even better. Domain History Info for blockkchain.info
Old Raw Registrar Data November 12, 2013
Registrant Contact Information:
Name: jason boyko
Organization: digital mining It was a phishing site. Here is an old copy sans css: https://web.archive.org/web/20131120014143/http://blockkchain.info/Nice catch there warren. |
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and giving him reason to distance himself from the company.
translation: run to Costa Rica with your stack of stolen bitcoins. |
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Well the thing about "verifiability" proving something is that not everyone agrees on what exactly would meet this standard.
I would say that it is generally not possible to prove beyond most naysayer's doubts that any cloud company has the physical hardware. Pictures can be faked, the same with invoices, and allowing people to physically see the equipment poses a security risk.
The answer to proving that a company owns actual equipment is to show them the mining address. The issue here is that even this can be faked. A company could rent mining capacity for a period of weeks or months when the term of a mining contract is years. Another way to fake a mining address would be to claim they are mining at a pool (like many smaller cloud mining companies probably are - when they are actually operating in a legal way) that doubles as an exchange (cex.io). The company could launder proceeds from their contract sales either through a mixer or through a large exchange like bitstamp, then deposit the proceeds into cex (the sales proceeds would not go directly to cex in order to make it difficult to draw the connection). Now the company is able to send payments to their customers from an address that can be easily traced to mining proceeds. I agree, thats why I said its not impossible, just a whole lot more difficult and expensive. But in order to score full marks on my criteria, you also need an asic vendor to vouch for you and there should be no doubt about the identity of the people behind the company. Not many scammers like to expose themselves to prosecution. While I agree that as of today it does not make sense for a cloud ponzi to do much more then their cookie cutter approach, I think that the market will get "smarter" and people will watch out for these kinds of red flags
I wouldnt hold my breath. I lost count of the number of ponzi's Ive seen come and go over the past years, and if anything, they are getting more transparent (as in, more obvious to be a ponzi), not less. |
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I'm not saying it isn't odd. But I trade on Btc-e, the shadiest place on Earth. I walk on the wild side
btce has a solid business model making tons of money by taking a fee on every trade. I wouldnt go as far as saying I trust them, but they have very little incentive to just run off when they make more each year by staying legit. It also couldnt be hard to trace them as they deal with banks. Lastly you most likely arent keeping big deposits with them for a year, Ive never kept money in an exchange for longer than a day. Contrast that with these mining ponzi's, who's officially stated business would clearly not earn them a dime and actually cost them quite a lot of money, who would make a killing running off at the right moment, whom you have to trust for 6 or more months and who you're not gonna be able to trace in any way if they played their scam right. |
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Sales resumed, that didnt take long.
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so you haven't actually broken even then, have you?
Bingo. and which is why he feels a need to pump this scam. |
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Hashie hasnt provided a shred of evidence for their "gen 1" contracts.
They also resell AMhash, for which there is plenty proof, just dont confuse the two.
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All I know is that if I had listened to puppet I wouldn't be raking this many btc per month with ROI past 100%. So for the rest of you, it's your btc, do what you please with it. There will always be naysayers.
Ask the one's that didnt listen to me and bought in to pirate, bt trader, AMT, cryptx, esoshit and at least half a dozen other scams if they regret ignoring my advice. My batting average is pretty darn close to 100%, or will be once these mining ponzi's collapse. The fact you managed to profit from a scam does nothing to disprove my point. BTW, did you cash out your profit, or did you reinvest it all in pbmining? |
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I sold my miner because Im not happy with mining results. My 30ghs on Hashie mining only 20 000 satoshi in 24hours. When cloudminr.io mining nearly 100 000 satoshi in a week with 10ghs.
Profit through mining is a pipe dream now. Which makes it even more surprising the multitude of cloudmining companies that are starting up. How is it surprising? That vast majority are ponzi scams that will collapse the moment sales < payouts. Cloudmining is the new arbitrage trading, and since there is no risk of a bankrun, its ponzi 2.0. The one's that arent ponzi's are almost without exception organized by the ASIC vendors themselves. Its an excellent strategy to get money up front from soon to be obsolete hardware that they had trouble selling anyway. |
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I just added all "new" users Ghs with account balance zero by mental arethmetics, Old users buy too. Btw. alloscomp says for 4284 Ths (PBMining) you get 376.95861579 BTC in one week, The total of the "hashrate" is 4883 TH. The number on the homepage hasnt been updated in quite some time. |
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You really do suck at math. First of all, the price was hiked right when they "sold out". Secondly, you can see here how much they earned last week: https://blockchain.info/charts/balance?address=1PBMKsuEZXpgm3tiwXJG2q8soHFLGmoox5295 BTC. As for payments; if they didnt skim they would owe ~422 BTC If I add up all the balances right now, its 307 BTC with what, 1 day to go ? 307 * 7 / 6 = 358 BTC. So a loss of around 60 BTC. And ~15% ponzi tax for bag holders. |
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