PB Mining -- 5 year mining contracts!

[Biomech]

that btcminer84 guys must be reported for spamming his useless calculations again again

I disagree. His calculations are not useless. They are illustrative of several logical fallacies and can therfore be of some value if you have a strong bullshit detector.

Exponential growth is impossible in the long run. This has been prove so many times that anyone claiming it as a basis for real world calculations should just go ahead and check themselves into either the mental ward or the Federal Reserve.

"On the subject at hand, I think you'll find the price is about the same as buying ants, when you factor in electricity, except that you'll eventually (much sooner than 5 years) have to either turn the ants off, or mine alts with them. As with all things Bitcoin, it's something of a gamble. It's one that has paid off handsomely for me, and I will continue to solicity referrals and buy GH's. There are too many customers for too long of a period for it to be a ponzi. I suspect they're being circumspect because it keeps people off their back, including the bastards that keep DDOSing every public pool. By maintaining the secrecy, they have less of a target painted on their backs. I don't know this to be true, but it's a good line of reasoning."

Challenge: Do the sums, buy an ant and sell the GHS. Can profit?

at current prices on both, 2.10 per GH/s for an Ant, $2.70 GH/s for pbmining. calculate electricity and PSU into it, and I suspect you're looking at a better deal at pbmining. There are too many regional variables for that to be a blanket statement, but it's going to be generally true. @ $.10 kw/h, the ant eats just shy of 87 cents a day, so right out the gate it's more expensive to operate. And you pay that every day you run it instead of just once in five years.

You can profit both ways, and if you play Alt mining and trading games you MIGHT outperform the bitcoin mining at pbmining. I think they are both valid investment vehicles. But very different animals as well. Ants give you more flexibility, pbmining gives you more stability. The electricity cost vs. difficulty pretty much means that even though the linear growth cannot continue, the ant will cost more to operate than it returns well before five years have passed. AT least in bitcoin.

S1 ant is now 0.893 BTC for 180 GHS
Just use BTC for your calculation.
Show me it's viable to sell GHS @0.0065 plus PSU and electricity for 5 yrs

you seem to be assuming that pbmining are running ants. They probably are, to some extent, but I would think they would have a variety of equipment. For one thing, there is always some guy that got in over his head and wants to sell used equipment. I could have gotten a couple of Jupiters not that long ago for quite a bit cheaper than market price, had I the coin. They do, and I would think they are reinvesting it in equipment all the time.

The other part you leave out is industrial electric rates. In Colorado, they run about 2 cents a killowatt hour even after the taxes are figured in. That extends things a lot right there. There are a dozen ways of generating power that they could be using to eliminate/supplement their electric needs. The scenario you paint is not a show stopper.

[1714305714]

1714305714

[jimmyl]

that btcminer84 guys must be reported for spamming his useless calculations again again

I disagree. His calculations are not useless. They are illustrative of several logical fallacies and can therfore be of some value if you have a strong bullshit detector.

Exponential growth is impossible in the long run. This has been prove so many times that anyone claiming it as a basis for real world calculations should just go ahead and check themselves into either the mental ward or the Federal Reserve.

"On the subject at hand, I think you'll find the price is about the same as buying ants, when you factor in electricity, except that you'll eventually (much sooner than 5 years) have to either turn the ants off, or mine alts with them. As with all things Bitcoin, it's something of a gamble. It's one that has paid off handsomely for me, and I will continue to solicity referrals and buy GH's. There are too many customers for too long of a period for it to be a ponzi. I suspect they're being circumspect because it keeps people off their back, including the bastards that keep DDOSing every public pool. By maintaining the secrecy, they have less of a target painted on their backs. I don't know this to be true, but it's a good line of reasoning."

Challenge: Do the sums, buy an ant and sell the GHS. Can profit?

at current prices on both, 2.10 per GH/s for an Ant, $2.70 GH/s for pbmining. calculate electricity and PSU into it, and I suspect you're looking at a better deal at pbmining. There are too many regional variables for that to be a blanket statement, but it's going to be generally true. @ $.10 kw/h, the ant eats just shy of 87 cents a day, so right out the gate it's more expensive to operate. And you pay that every day you run it instead of just once in five years.

You can profit both ways, and if you play Alt mining and trading games you MIGHT outperform the bitcoin mining at pbmining. I think they are both valid investment vehicles. But very different animals as well. Ants give you more flexibility, pbmining gives you more stability. The electricity cost vs. difficulty pretty much means that even though the linear growth cannot continue, the ant will cost more to operate than it returns well before five years have passed. AT least in bitcoin.

S1 ant is now 0.893 BTC for 180 GHS
Just use BTC for your calculation.
Show me it's viable to sell GHS @0.0065 plus PSU and electricity for 5 yrs

you seem to be assuming that pbmining are running ants. They probably are, to some extent, but I would think they would have a variety of equipment. For one thing, there is always some guy that got in over his head and wants to sell used equipment. I could have gotten a couple of Jupiters not that long ago for quite a bit cheaper than market price, had I the coin. They do, and I would think they are reinvesting it in equipment all the time.

The other part you leave out is industrial electric rates. In Colorado, they run about 2 cents a killowatt hour even after the taxes are figured in. That extends things a lot right there. There are a dozen ways of generating power that they could be using to eliminate/supplement their electric needs. The scenario you paint is not a show stopper.

You said this
"On the subject at hand, I think you'll find the price is about the same as buying ants, when you factor in electricity, except that you'll eventually (much sooner than 5 years) have to either turn the ants off, or mine alts with them. As with all things Bitcoin, it's something of a gamble. It's one that has paid off handsomely for me, and I will continue to solicity referrals and buy GH's. There are too many customers for too long of a period for it to be a ponzi. I suspect they're being circumspect because it keeps people off their back, including the bastards that keep DDOSing every public pool. By maintaining the secrecy, they have less of a target painted on their backs. I don't know this to be true, but it's a good line of reasoning."

You said this "price is about SAME as buying ants...."

assuming they use ants.....stop imaging they could get ants at 50% discount, be realistic.
And it got to be running for 5 years.
Please show calculation for profitability. Numbers don't lie.

[5ick3uffalo]

that btcminer84 guys must be reported for spamming his useless calculations again again

I disagree. His calculations are not useless. They are illustrative of several logical fallacies and can therfore be of some value if you have a strong bullshit detector.

Exponential growth is impossible in the long run. This has been prove so many times that anyone claiming it as a basis for real world calculations should just go ahead and check themselves into either the mental ward or the Federal Reserve.

"On the subject at hand, I think you'll find the price is about the same as buying ants, when you factor in electricity, except that you'll eventually (much sooner than 5 years) have to either turn the ants off, or mine alts with them. As with all things Bitcoin, it's something of a gamble. It's one that has paid off handsomely for me, and I will continue to solicity referrals and buy GH's. There are too many customers for too long of a period for it to be a ponzi. I suspect they're being circumspect because it keeps people off their back, including the bastards that keep DDOSing every public pool. By maintaining the secrecy, they have less of a target painted on their backs. I don't know this to be true, but it's a good line of reasoning."

Challenge: Do the sums, buy an ant and sell the GHS. Can profit?

There are a dozen ways of generating power that they could be using to eliminate/supplement their electric needs. The scenario you paint is not a show stopper.

Waterwheels

[vipgelsi]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

[raskul]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

 
until the commie guard kidnap your package from bitmain and mine with it for a week in the customs rooms.

[testerman]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

lol guys, if you think pbmining is a scam then donot buy any hardware that is priced above 0.0064btc/ghs !!  if you do you can be scammed then

[sdmathis]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

Sure you do. How do you know that after you send in your money, the antminer will be shipped? How do you know it won't be defective? How do you know that a giant meteor is not going to crash into the planet and render this whole issue moot?

Life is full of risks. Billions of dollars were lost because of well established companies like Enron or Investment brokers like Bernie Madoff. So maybe we should all just keep our money in a jar burried in the back yard.

If you don't have a stomach for risk, DON'T invest your money, and if you don't have a stomach for high risk, stay away from speculative investments like bitcoin.

There are many things that can go wrong with this investment (just like any other investment), but scam is low on my list of concerns.

[raskul]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

Sure you do. How do you know that after you send in your money, the antminer will be shipped? How do you know it won't be defective? How do you know that a giant meteor is not going to crash into the planet and render this whole issue moot?

Life is full of risks. Billions of dollars were lost because of well established companies like Enron or Investment brokers like Bernie Madoff. So maybe we should all just keep our money in a jar burried in the back yard.

If you don't have a stomach for risk, DON'T invest your money, and if you don't have a stomach for high risk, stay away from speculative investments like bitcoin.

There are many things that can go wrong with this investment (just like any other investment), but scam is low on my list of concerns.

well said. and remember kids; don't pay out more than you can afford to lose, that also applies to hardware purchases.

[PBmining]

A new input box beside the slider will be installed very soon.  I never liked that either. 

[raskul]

A new input box beside the slider will be installed very soon.  I never liked that either. 

thanks. Biomech is gunna gloat and gloat it was his idea. 

[vipgelsi]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

lol guys, if you think pbmining is a scam then donot buy any hardware that is priced above 0.0064btc/ghs !!  if you do you can be scammed then

I am a customer and currently buying I'm just stating a risk.

[ajw7989]

I personally bought both an antminer and contracts from pbmining (although not as much as most people). The antminer is great however you have to always worry about internet going down, heat generated, pool going down, etc. Pbmining is more worry free and I have been with them since close to the beginning (I am one of the first 30 customers). I recently sold my antminer since the electric used to be cheap near me but because of the cold winter was hiked up to almost double.

[raskul]

I personally bought both an antminer and contracts from pbmining (although not as much as most people). The antminer is great however you have to always worry about internet going down, heat generated, pool going down, etc. Pbmining is more worry free and I have been with them since close to the beginning (I am one of the first 30 customers). I recently sold my antminer since the electric used to be cheap near me but because of the cold winter was hiked up to almost double.

you must have signed up whilst I was still in the hum-ho stage about it all. When I did eventually register, it still took me over a month to buy my first GH/s (which is close to break even now) - I have found luck that I am able, next week, to move all my old 130nm blades and my cube and my bfl-singles, out to a d/c with free electricity. If i wasn't getting this option, i'd have had to switch off by now. The blades are costing me more to run that I could sell the BTC for and the cube and singles are not far off the same. I've tried mining alt-coins but even if you do catch the most profitable at any given time, it still ends up being a loss leader and i'd have been better just mining BTC instead. PBMining is the service we have all been looking for - as you say, no worries about internet going down, or rigs overheating, or pools getting borked. it's simple, effective and it helps spread the earnings, if not the hashpower.

[5ick3uffalo]

The thing you guys are not considering is if u do buy a ant miner u don't have to worry if it is a scam. Like with pbmining.

Sounds similiar what a friend in SL told me when i asked him what he thinks about cloud mining.

"So all things considered, if you figure payout to be roughly the same, you have to ask yourself what's a higher chance; that your machine will break within 1 year or that this mining contract company will steal your money and go belly up within 1 year. If you figure the chance of these two things happening are roughly equal, then it doesn't actually make a difference which you go with. "


I choosed cloudmining and little bit hardware mining


I found my refereel in a SL Forum , lol:

Yesterday, 06:59
Pradeep Planer   Re: What you think about it (btc cloud mining)

Hi sports purchased 47GH using your referral link....

thanks
Pradeep

[Biomech]

A new input box beside the slider will be installed very soon.  I never liked that either. 

thanks. Biomech is gunna gloat and gloat it was his idea. 

Thanks pbmining!

And no, gloat is the wrong word. I'm going to rejoice! Me and that damn slider didn't get along. At all.

[5ick3uffalo]

A new input box beside the slider will be installed very soon.  I never liked that either. 

thanks. Biomech is gunna gloat and gloat it was his idea. 

Thanks pbmining!

And no, gloat is the wrong word. I'm going to rejoice! Me and that damn slider didn't get along. At all.

hm i always klick slider key and use arrow keys then. but its better now.

[Biomech]

A new input box beside the slider will be installed very soon.  I never liked that either. 

thanks. Biomech is gunna gloat and gloat it was his idea. 

Thanks pbmining!

And no, gloat is the wrong word. I'm going to rejoice! Me and that damn slider didn't get along. At all.

hm i always klick slider key and use arrow keys then. but its better now.

didn't work on this computer for some reason.

Ah well. It's getting fixed

[Danglez2907]

It's fixed!!!!!

Slider is still there but there's a text box..

Life is good 

[Meech]

I've been researching this along time and following at C#@.io. There paying close to 19%  in fees and who cares we dont know where were mining.  Been checking global stats and people are making far more at same gh/s.  Ya blocks aren't probably found as quick but payouts are more, win win.  I know its a contract but would be cool if they merged it into something where you could sell your contracts.  Tell me if this is wrong thinking.  I will be buying in soon.

[Light]

I've been researching this along time and following at C#@.io. There paying close to 19%  in fees and who cares we dont know where were mining. 

It matters because AFAIK they haven't actually provided any evidence that they have been mining at all. It's not hard to point to a tx where there the 25 BTC reward comes from and yet they haven't done it. I'd be more than happy to keep quiet if they would post some verifiable proof that this is legit. It's all to easy for it to be a ponzi - it fits the bill exactly. As an investor myself, I don't like saying this but this is what it looks like.