PB Mining -- 5 year mining contracts!

[PilotofBTC]

So, difficulty didn't go down, but it only went up .98% today. So, payments should be about the same for the next two weeks.

[1714277770]

1714277770

[1714277770]

1714277770

[1714277770]

1714277770

[1714277770]

1714277770

[1714277770]

1714277770

[bennynjetz]

That is completely normal and has already been pointed out before.    As you can see they are always small amounts.

Can you prove some payments originate from mining?

Seems you either try your hardest to hide the mining or you're not mining.

I know you've got a much better coin mixer since April but what's the point when you openly admit paying out directly from customer payments?

Don't you realize that with such a shady business model you're limiting your customer base to naive investonomers and gamblers?

I have a (serious) question for you. If a company thought that mining was a losing proposition and essentially wanted the short the market, they could sell mining power and provide the equivalent returns without actually investing in hardware.
If they sell X GH/s for 5 years for a certain price, and return the equivalent 100% PPS for those X GH/s over that time, is it a problem if they never actually place X GH/s on the network?

You don't have the right to think mining is a losing proposition and sell mining bonds that will fail if your predictions are wrong.

Ah, I think you're misunderstanding what I'm asking. You're assuming that the mining company will just cut and run, and you're obviously correct in that's what has historically happened and what will likely continue to happen here. I'm asking more of a conceptual question. Similarly to borrowing and shorting a stock where if you are wrong you take a loss, I'm asking about a similar thing in the mining space. If the "mining company" sells a futures contract that they will provide dividends based on X GH/s for Y years in exchange for Z BTC, is there really any difference between that and a mining bond that actually buys the hardware if they do stick to the terms of the contract?

As long as the intent is communicated, I honestly don't see a whole lot of difference. You're still relying on the integrity of the party you're dealing with. It's just risk in the opposite direction; if mining goes really well a mining company might stick around and pay out, but if it goes poorly they'll just cut and run. Here, if mining goes poorly the company makes a profit but if it goes well they lose money and possibly cut and run.

Of course, my proposed company is an ideal that is making an educated gamble and has the resources to absorb the loss if they're wrong. I'm not saying that's the case with what is going on here.

Now I get what you're asking.

I see absolutely nothing wrong with derivatives/futures/gambling games like you described as long as they are completely transparent and clear about their rules/operation.

BDD is a perfect example where they will completely stop payments once the reserve runs dry and everyone will be fine with it because that's just how the game works and the shares are priced with that in mind.

I have a problem with a ponzi pretending to mine and then unexpectedly disappearing as soon as the reserve fund runs low. For all we know pbmining could only have a week or two worth of payments left in the reserve fund and new customers would never know about it. (until 2 weeks later when their "investment" stops paying)

Personally I'm not a fan of financial instruments(like your ideal company) that have potential for massive losses and require trust that the loser will pay out, but as long as the rules/risks are clear I have no problem with it.

jimmothy, do you mine on your own or do you have a contract with a cloud mining firm (or both)? Just trying to get a grip on your stand here with this whole situation.

[jimmothy]

jimmothy, do you mine on your own or do you have a contract with a cloud mining firm (or both)? Just trying to get a grip on your stand here with this whole situation.

I've been mining for close to 2 years now but had to sell the last of my hardware because I pay $0.15/kwh.

I don't own any cloudmining contracts but I would probably buy one if the price is right and there are not a million red flags.

I've been following cloudmining since its birth and seen too many ponzi's to give people the benefit of the doubt.

[bennynjetz]

jimmothy, do you mine on your own or do you have a contract with a cloud mining firm (or both)? Just trying to get a grip on your stand here with this whole situation.

I've been mining for close to 2 years now but had to sell the last of my hardware because I pay $0.15/kwh.

I don't own any cloudmining contracts but I would probably buy one if the price is right and there are not a million red flags.

I've been following cloudmining since its birth and seen too many ponzi's to give people the benefit of the doubt.

Very understandable, and I certainly wouldn't want to sway you from that way of thinking. We have felt the sting of identity theft, and I have heard stories from close friends about "ponzi-type" scams that they have been affected by. All I know about PB is that we have had a 100% return on our initial investment thus far (and growing), so whatever scam they are running, if any, definitely hasn't scarred us yet. Taking all of this into consideration, PB is a good value - ponzi or not. At least we've gotten our money back and are well on the way to doubling our initial investment. If there is something fishy about PB we certainly won't be affected by it haha

[petahashminer]

Prices have just dropped to 0.0017 btc/ghs 

more power more power

[Mike18feb]

And every time I have to change my singature. it's hard work I tell you

[kelvrhy]

And every time I have to change my singature. it's hard work I tell you

haii. can you teach me how about PBmining ? i dont understand

[Neo110]

Can somebody tell me how long it usually take until i reach roi?I read about 4 or 6 Months

I looked at serveral charts and saw that the difficulty is increasing around 20 percent every month,so i will not get any money after 5 Months...is this correct?

[Mike18feb]

haii. can you teach me how about PBmining ? i dont understand

You don't understand what exactly?

You go to pbmining.com (if you like, by clicking on the pbmining link in my signature), you sign up for an account, then you buy hashrate, and every Sunday you get payout.
That's the short and simple, and fully biased version.

Whether or not a ponzi is a poplar discussion. There are those that have invested early and are on profit after month after month after month of receiving payments. And there are those that claim PBMining is a ponzi scheme and spent month after month after month warning others to stay away because it's a sure loss.
I'm not one of the earliest birds, pretty late actually when it comes to pbmining, but I've picked up a few referrals, so all in all I'm getting more out of them then I've put in. Though I'm not afraid to put in more. If they disappear tomorrow I'm in profit, if they disappear three months from now I'm in more profit. But for now I think they won't disappear. Nu guarantees for the future as the mining scene changes, coins change, profitability changes, difficulty changes, and so on and so on. Things can turn to crap pretty damn fast in Crypto.
Also, get yourself familiar with various calculators, like http://www.coinwarz.com/calculators or my favorite, http://evolyn.net/bitcoin/mining_calc.php. Check before you spent money on anything. Just keep in mind that the better you udnerstand all varaibles, the better numbers you can enter and the more reliable (if ever) the result of the calcs.

So, investing or not, make up your own mind. And when you invest, don't ever invest anything you can't afford to lose. Period.

Can somebody tell me how long it usually take until i reach roi?I read about 4 or 6 Months

I looked at serveral charts and saw that the difficulty is increasing around 20 percent every month,so i will not get any money after 5 Months...is this correct?

Yes, check the calcutalors I mentioned. Whatever you've read, if it was more then a minute ago then any truth in the message (if it was there in the first place) might no longer apply. Things change. And with crypto there's a always a damn lot that can change. Calculators.. yesterday's calculations are old news today ( <= after me saying you should use those calculators... makes it clear you should never stop thinking about what you're doing, I hope?!)

[Anyayakubu]

Can somebody tell me how long it usually take until i reach roi?I read about 4 or 6 Months

I looked at serveral charts and saw that the difficulty is increasing around 20 percent every month,so i will not get any money after 5 Months...is this correct?
[/quote

I can tell you that the price now at .0017 looks good for you to get your return in 35 or less weeks. However understand that mining is a long term investment.  When you buy a contract, it will take sometime to reach its break even but of course you will get bitcoin after 5 months, you will be getting bitcoin for the next 4 years and 5 or 6 months.
Maybe not very much, but we don't know what the price of bitcoin is in the future either.

[ajw7989]

Can somebody tell me how long it usually take until i reach roi?I read about 4 or 6 Months

I looked at serveral charts and saw that the difficulty is increasing around 20 percent every month,so i will not get any money after 5 Months...is this correct?

ROI can not be predicted 6 months or so from now at least accurately. You can estimate but thats about it. Pbmining is pretty cheap at .0017 btc/gh right now. The main reason is since electricity and fees are already built into the price compared to cex or any cloud hashing company like gaw or hashnest. ROI will most likely happen in PBmining unless some amazing miner comes out in the next few months that shoots dififculty up 20% or more every 10 days for 4-5 difficulties in a row (unlikely).

[MrTeal]

Can somebody tell me how long it usually take until i reach roi?I read about 4 or 6 Months

I looked at serveral charts and saw that the difficulty is increasing around 20 percent every month,so i will not get any money after 5 Months...is this correct?

ROI can not be predicted 6 months or so from now at least accurately. You can estimate but thats about it. Pbmining is pretty cheap at .0017 btc/gh right now. The main reason is since electricity and fees are already built into the price compared to cex or any cloud hashing company like gaw or hashnest. ROI will most likely happen in PBmining unless some amazing miner comes out in the next few months that shoots dififculty up 20% or more every 10 days for 4-5 difficulties in a row (unlikely).

How isn't the awesome price a huge red flag to people? They are offering BTC1.7/TH/s, with 5 years of upkeep, hardware replacement and power built in. Right now in bulk you can get hardware for around BTC1.2/TH/s. If you actually believe they have this massive 2.6PH/s mine powering over 1% of the network hidden in Saskatchewan somewhere with relatively terrible power rates, and they are going to be able to provide the PPS equivalent of your hashrate out of the profits of much more mining power as the network approaches a normal market.

If you see an offering and think "What an awesome deal, there's no way I could buy the hardware and run it myself for that price", you need to ask a couple hard questions about their business model. When all the proof they've offered on their operation is

PB Mining is a fully trusted business in SK, Canada with an established eBay account.

you should be demanding some answers before sending a red dime. Pirate paid out his 7% weekly interest on time and in full every week until he didn't, and many early investors made back several times their initial investment.

[PBmining]

This sounds like the same trolling we had back in the spring when our prices were just "too good".  We will continue doing what we do.  PB Mining isn't going anywhere.  Watch.

[ajw7989]

This sounds like the same trolling we had back in the spring when our prices were just "too good".  We will continue doing what we do.  PB Mining isn't going anywhere.  Watch.

Well said. There will always be people who are not satisfied no matter what proof you have. The same occurs with all the other companies that offer cloud mining as well. I have been a customer with Pbmining since January and have had no problems with their service at all. Highly recommended to all

[MrTeal]

This sounds like the same trolling we had back in the spring when our prices were just "too good".  We will continue doing what we do.  PB Mining isn't going anywhere.  Watch.

Well said. There will always be people who are not satisfied no matter what proof you have.

I'd be more than happy to be wrong on my opinion here, though I doubt it. Since I have read all the pages of this thread, I ask this in all seriousness though. What if any proof has PBMining provided of actually running a mining operation? The only thing I can find as proof of their ability to deliver is an eBay account.

[jimmothy]

This sounds like the same trolling we had back in the spring when our prices were just "too good".  We will continue doing what we do.  PB Mining isn't going anywhere.  Watch.

Well said. There will always be people who are not satisfied no matter what proof you have. The same occurs with all the other companies that offer cloud mining as well.

That's actually not true.

Nobody has ever accused Hashnest, Kncminer, or Cointerra of running a ponzi scheme.

PBmining has put as much effort as possible to make their operation look like a ponzi scheme... You really can't be surprised by the accusations/skepticism.

[PBmining]

"If it isn't broke, don't fix it".  Nothing is unprofitable with how we do things right now.  Our stance on this subject continues as it is.    

[PilotofBTC]

Any plans to add an auto reinvestment option?

[petahashminer]

Any plans to add an auto reinvestment option?

yes that will be cool feature.

[fractal02]

Any plans to add an auto reinvestment option?

This ! ^ ^ ^ ^ ^ ^