PB Mining -- 5 year mining contracts!

[Biomech]

What's wrong with the handle, if I may ask? I've used it for over 20 years.

Nothing, just my rambling just a twisted way to point to the "bio" part of my argument, not really an actual connection

Ah. I ramble far too much to argue with that

[1714306587]

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[botolo86]

cex might have the real fancy site and the picture of "their" equipment but that doesn't make them legit!

The blocks they mine show up on the blockchain is what makes their farm legit.
It seems you're rather uninformed on the subject. Which makes it really regrettable you chose to invest money with a service you don't understand.

You see the blocks mined by the GHASH pool which, what a coincidence, offers 0% fee to gather as much outside miners as they can. The issue here is: how much of the total mining power of GHASH is real hardware owned by CEX and how much is hardware owned by outside miners?

[raskul]

I agree with you that you can use this thread in any way which is related to the service. But it's also true that this specific topic of yours has been broadly discussed so many times. You can just go back and see what users were asking and what PBMining answered. They are not going to disclose their business plan or any other information on their operation. That's it. It's your choice to decide whether you want to trust them and invest some money or whether you don't trust them and don't invest money.

I have almost 90 GHS with them. Am I sure this is not a scam? No, I am not. But I am willing to take the risk.

Are other services more reliable? Not really. As long as you have your bitcoins in the cloud, no service is reliable. Take CEX as an example. They seem to be more reliable but what prohibits them to just unplug everything tomorrow and keep your bitcoins? Nothing. Do you personally know them? Do you know where to sue them in case they take your bitcoins? No...it's basically the same exact risk you have with PBMining.

I'm sorry but trawling through 960 responses for a very specific point seems rather over zealous. Unlike many others I do not have unlimited time to read through what is mostly of uninformative substance.

Of course it's my choice - no one ever said it wasn't. Doesn't mean I am not allowed to ask for further information.

Cex is irrelevant - I have not mentioned Cex once. I am evaluating PBmining based on its merits and solely on its merits and not in comparison to any other site. And just for the record - to refute your final statement there is more risk if it can't be proved that mining is occurring.

Take this for what it's worth, because I gave my word to not reveal everything I've been told.

But I am completely satisfied that they are indeed mining, and I've a good idea what their model is. I did NOT specifically verify the model I'm proposing here, but they did say I was on the right track. This addresses the electricity angle as well. I now personally know who the people behind PBmining are. I gave my word, so will not reveal that. They feel, and I agree, that due to the small size of their operation and the large probability of being attacked by hackers and other ne'er-do-wells that they have a large security risk by being public. They are indeed mining. It is my thought, again this part is unverified, that they are purchasing somewhere in the neighborhood of twice the hashpower that they sell. This gives them a good margin and a good profit above the costs of operation, thus the ability to sustain. The model being sell enough to keep ahead of the difficulty curve and purchase new and better hardware as necessary and possible. They are running a decent sized farm. If you do the math, even if they are only purchasing 125% of what they resell, they are able to keep ahead of the electricity/difficulty curve and continually expand. This also allows them to turn off or retarget obsolete hardware as it becomes unprofitable while still maintaining the contracts as stated.

Of course, you have little better idea of who I am than you do of them, though my real identity is known to the forum. Nevertheless, I am certain they are the real deal, and I will continue to both buy from them and promote their service.

Come to me my piggies!!!

Edit: Due to the Chuck Norris comments earlier, thought I'd clarify. That is me in the avatar, though I cut off my hair and regrew it since then. It's not blonde without a bottle, so I look a bit different right now I don't see the resemblence, personally, but I sure won't be offended by the comparison! Chuck might, though.

thanks Chuck.

[5ick3uffalo]

1PorkyB6s8Tb7JU8QiBpreD159iW6aaSWt

 
I want make cool btc adress same, is it free or cost money ?





This little piggy went hashing

0fd683d487dcf21c3a53dbd0de027f4214db795c3d18ff2b1bd13359d58f59a9

[byt411]

Does anyone have a comprehensive excel file on how these 5 year contracts play out? 

What exactly do you mean by "play out"??

[jamieb81]

Does anyone have a comprehensive excel file on how these 5 year contracts play out? 

What exactly do you mean by "play out"??

probably pay out

[syamai]

just buy some more contacts, hope will get my profit soon..

http://syamai.com/images/aicon.gif

[Biomech]

Does anyone have a comprehensive excel file on how these 5 year contracts play out? 

Not a real one. That would require predicting the future accurately. So far the very best prognosticators have been off significantly after about three months. The ASIC arms race is just out of the iron age and hitting the industrial revolution, so you pays your money and you takes your chance. Regardless of the vendor.

[raskul]

Does anyone have a comprehensive excel file on how these 5 year contracts play out? 

Not a real one. That would require predicting the future accurately. So far the very best prognosticators have been off significantly after about three months. The ASIC arms race is just out of the iron age and hitting the industrial revolution, so you pays your money and you takes your chance. Regardless of the vendor.

i can give a reasonable estimate for ~christmas time : if you don't have 10TH/s running, don't bother.
 

signed - the raskul.

[Light]

i can give a reasonable estimate for ~christmas time : if you don't have 10TH/s running, don't bother.
 

signed - the raskul.

In this particular instance, profitability is irrelevant to the amount invested as each unit of investment will give you a specific unit of return that doesn't shift according the amount invested. Sure there are difficulty shifts but those will affect all units of investment and hence are irrelevant. Basically, having 1 GHs and 1 THs will give you the same % return on your investment.

On the topic of profitability, without accurately being able to predict difficulty shifts it is hard to know whether you'll make a profit (and if so much). Most people assume a 20% increase each time but in the long term that may vary with new ASIC technology/reduced demand for new equipment etc.

[oztusk]

 rare albino shortfurred longeared hopping minipig

[raskul]

http://cdn.attackofthecute.com/March-16-2014-00-36-10-rr.jpg
 rare albino shortfurred longeared hopping minipig

which flavour of gravy do you have with that?

[oztusk]

Lemon chutney, same as for curried kitten.

[vipgelsi]

Would be awsome if pbmining would also start a scrypt share pool for litecoins.

[apsvinet]

Would be awsome if pbmining would also start a scrypt share pool for litecoins.

I've thought this too, but give em time, focus should be on Bitcoins at the moment which is the primary thing.

[vipgelsi]

Would be awsome if pbmining would also start a scrypt share pool for litecoins.

I've thought this too, but give em time, focus should be on Bitcoins at the moment which is the primary thing.

Just bought some more hashing power on pb do u guys think the price will go down more when difficulty hits 7?

[byt411]

Would be awsome if pbmining would also start a scrypt share pool for litecoins.

I've thought this too, but give em time, focus should be on Bitcoins at the moment which is the primary thing.

Just bought some more hashing power on pb do u guys think the price will go down more when difficulty hits 7?

The price goes down every upward difficulty change.

[oztusk]

tired?

[niktitan132]

So quiet,here. 
I have a bad feeling. 

[PBmining]

So quiet,here. 
I have a bad feeling. 

It always seems to be quiet right before a difficulty change.     Looks like it won't be too steep this time.. 15% estimate so far!