PB Mining -- 5 year mining contracts!

[raskul]

and not a single mined block in that traceback. why am i not surprised?

[1715574817]

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[1715574817]

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[SpanishSoldier]

My Q is elsewhere. If a Ponzi can pay better than a real service, then what is the purpose of running that service at all from business point of view ?

Do you even know what a ponzi is?  Its a scam. It can only pretend to offer high rewards right until when it collapses because not enough new investors buy in to it, and the scammer runs off with the loot.  Calculate your "profits" if you bought last month and pbmining runs off next month.

What do you think about the fiat currency being a ponzi?

He is not interested in FIAT ponzis.

He is not interested in -ve payment of CEX.io.

He is not interested in low payment of HaveLock scam stocks, e.g. AM hash.

The only thing he is interested in is going to every anonymous cloud mining thread to promote his HaveLock scam companies, which demands to be legit, but operates out of the reach of legitimate jurisdiction.

[RocketSingh]

Estimated Next Difficulty:   40,480,814,187 (+0.45%)
Adjust time:   After 282 Blocks, About 1.9 days


Good

Next difficulty retarget occurs at block 332639.0 (eta 1.5 days): 40298813250.3 / -0.0% [est.]

As per https://alloscomp.com/bitcoin/calculator

[jseppeli]

Estimated Next Difficulty:   40,480,814,187 (+0.45%)
Adjust time:   After 282 Blocks, About 1.9 days


Good

Next difficulty retarget occurs at block 332639.0 (eta 1.5 days): 40298813250.3 / -0.0% [est.]

As per https://alloscomp.com/bitcoin/calculator

Bitcoinwisdom prediction is better
https://bitcoinwisdom.com/bitcoin/difficulty

edit: or should I say more precise

[Puppet]

Bitcoinwisdom prediction is better

Bitcoinwisdom is better if there is a clear trend. It extrapolates the trend over the last x blocks, and assumes that trend will continue. Historically, its clear that will work better than just averaging the last x blocks like most other sites do, because there has almost always been a very strong upwards trend. But Bitcoinwisdom tends to exaggerate trends and right now, Im not so sure if the recent surge is even a trend or just statistical noise like the earlier drop. (Im pretty sure there will be another very strong upward trend once new generation miners come out, but Im dubious that has already started).

[allcoinminer]

Estimated Next Difficulty:   40,480,814,187 (+0.45%)
Adjust time:   After 282 Blocks, About 1.9 days


Good

The lack of moderate difficulty increase shows the lowering strength of home or DIY miners.
Cloud mining farm will make an equilibrium and keep the difficulty on arrest.
In one angle its bad for home miners, de-centralisation, etc, but through the other angle it will give some price stability.
I think that's what we are seeing, where btc stays around $400 since many months.

[thirdprize]

To see where a lot of the coin into that 1Payday account is coming from. From the transaction on the 23rd we have the following funding transactions
BTC96 from BTC-e (all those trace back to 1FaNGLkBTLgyuBjQrqoNZLtbWixpTz2kij)
BTC150 from Bitstamp
BTC90 from BTC-e

I haven't looked too much into it yet. So far all the coin into the current 1Piggy is just sitting there, other than 500BTC sent to 17MuDSz3oaHBV9QNjFdzNPRnwYhe9Efrn2, 15JsW8CvZU2mtpMPfKhNUJXMtLGPXGjAdP and 17MuDSz3oaHBV9QNjFdzNPRnwYhe9Efrn2.

Some older 1Piggy addresses seem to be sending all the coin to exchanges though. For instance, 1PiggyWpsA4wktHbtFwgqyiuMkvZmVRfMU pooled incoming Bitcoin and the sent it in the following addresses.
BTC95 to 1Fzj3UbZE7d65KzQD3EkPexorwBEsphmq4 (Bitstamp)
BTC25 to 1Fzj3UbZE7d65KzQD3EkPexorwBEsphmq4 (Bitstamp)
BTC25 to 175VYGSjGMmHS4hWLZjX3Hjiegsy4W8nqY (Bitstamp)
BTC55 to 157dJwa32ngQjQG38z91SrP3Qjkp9F114H (BTC-e)
BTC77 to 13ugJ3uw2RvwAhwqyPCR2ttyJEXw6uukj3 (BTC-e)
BTC80 to 1M2FLDt2ZYZhhAC4offd58fPBqnLfsgrTN (Bitstamp)
BTC85 to 16JMrsCW4p4MSMEKzxXMSaDpyYyZM88aTv (Bitstamp)
etc, etc

Unless someone has seen something indicating otherwise, it seems to me that PBmining is just taking all the coin brought in and dumping it into an exchange, and then funding the payout addresses from those exchanges.  If I was them I would probably keep my mined earnings separate from my incomings and outgoings.
It will be interesting when this does implode whether the one running the Bitstamp account is the OP or a service. I doubt BTC-e would play ball, but if a UK customer sued PBmining and was able to get an order for Bitstamp to turn over the records related to those transactions, it might be pretty damning.

Playing devils advocate here, but has any one actually lost any money so far?  While we would like proof of mining, evidence and stuff like that,

• It was an investment (so you should know the risks before you get involved)
• The contract is for 5 (yes FIVE) years.  If you haven't made your money back after that then yes, you can feel a bit miffed.

To anyone who has invested (myself included,) you knew the risks, you knew what the company was like and you clicked the buy button.  No one held a gun to you head.  What I see here is a lot of "buyer remorse", like when the salesman gets you to take the extra warranty and as soon as you leave the store you regret it.

Has PBMining actually done anything wrong or illegal, or is it just not up to our standards?

[Mabsark]

He is not interested in FIAT ponzis.

He is not interested in -ve payment of CEX.io.

He is not interested in low payment of HaveLock scam stocks, e.g. AM hash.

The only thing he is interested in is going to every anonymous cloud mining thread to promote his HaveLock scam companies, which demands to be legit, but operates out of the reach of legitimate jurisdiction.

Why would he be interested in FIAT ponzis?

CEX.io's negative payment is in line with their published information.

AMHash's payments are not low and are also in line with their published information. Also, it's not a Havelock scam company, it's a service from ASICminer (the oldest bitcoin ASIC manufacturer) which has been around for longer than Havelock.

Puppet doesn't give a shit about Havelock or AMHash, he thinks you're better off just buying bitcoin than mining it.

[Puppet]

Has PBMining actually done anything wrong or illegal, or is it just not up to our standards?

Everyone who's invested in this and hasnt made 100% ROI (that they did not reinvest) has lost money on this and are just hoping to get it back one day.

The question is how likely that is to happen. Using past payments is the most terrible criterion to judge that, because every ponzi will pay out until the day they no longer do. Im sure you asked the same question about BT trader, Pirate, and countless ponzi's before that, and if you judged their trustworthiness based on that, you will have lost all your money.

Now Im sure you know all that and just trying to deceive new investors to cough up fresh coins needed to pay your profits with. Let me quote you:

Well, lets hope us early adopters get our money back in payments before it goes tits up.

[david123]

Has PBMining actually done anything wrong or illegal, or is it just not up to our standards?

Well, they payed out only approx. 85% this sunday. If there won't be a fix soon,
I would call that "done anything wrong"..

[Puppet]

Here is some of my payments I have received

9.11
513,3GHs
https://blockchain.info/tx/0af4647985b9e1d7e4d9767c8bba27b9678f84390b596c93c53532177f23ac1d

16.11
550,8GHs
https://blockchain.info/tx/ef19fee6af7bb739c1c8743cca620b6f5725f4f35fd28cda993cd5ca5c59ce72

23.11
555,8GHs
https://blockchain.info/tx/4e21d59f789db80d242f841aa20d4278b9e737438c7d815b3410fbd567c96af8

30.11
555,8GHs
https://blockchain.info/tx/5947d006cb9d7fd82548487652bc75882465d840b300b5e00cc44a07835ba4b7

I cant make out from those transactions how much you were paid, because I dont know your address. The transaction contains 100s of payouts.

Sorry!

My payout adress is https://blockchain.info/address/19nFEdGgUghXZKAneAJAYPrxQwmPgRhsre

I was hoping someone else would do this, but halas.

Im just looking at your payment from 23.11. You received 0.0447413 BTC.
I cant know if you had 555.8 GH for the entirety of that week or if you bought  the additional 5 GHs during that week, but that shouldnt matter too much as its only 1%.

Your payment was for the mining period between 16.11 and 23.11. During 16 and 17th difficulty was 39,603,666,252 and those two days should have netted you 0,007058 x 2= 0,01417 btc. During the next 5 days, difficulty was the same as today and you should have earned 0,006936 x5 =0,034675 BTC
Total= 0,048845 BTC

You got paid ~10% less than that. Even if you bought the 5GH on the last day of the week and if the difficulty change moments dont match with my assumptions, you got underpaid.


Anyone feel like double checking my math or testing another datapoint?

[raskul]

i received

0.04062165 BTC

for

540.4GH/s

...

should have been

0.04721 BTC


i can only presume this reduction is correct payouts has been happening for some time.

[miner454]

I made an order for 2 Ths on 11/29/2014 and it has not been fulfilled yet.  The amount sent is correct and exact.
They are certainly taking a lot longer this time.  Are they running out of miners?

This would be an evidence of loss of money.

[raskul]

I made an order for 2 Ths on 11/29/2014 and it has not been fulfilled yet.  The amount sent is correct and exact.
They are certainly taking a lot longer this time.  Are they running out of miners?

This would be an evidence of loss of money.

sorry but..

BIG RED FLAG

[MrTeal]

I made an order for 2 Ths on 11/29/2014 and it has not been fulfilled yet.  The amount sent is correct and exact.
They are certainly taking a lot longer this time.  Are they running out of miners?

This would be an evidence of loss of money.

I think they'd need to show evidence of any miners before they can show evidence of running out of them.

However their behaviour has changed markedly in the last couple days. It's possible this is all wrapping up.

[thirdprize]

Has PBMining actually done anything wrong or illegal, or is it just not up to our standards?

Everyone who's invested in this and hasnt made 100% ROI (that they did not reinvest) has lost money on this and are just hoping to get it back one day.

...

Well, lets hope us early adopters get our money back in payments before it goes tits up.

Yes, I have 65 Ghs with them which I got in May and has nearly paid itself back.  I still stand by the comment though.   I don't come here that often so i won't comment on the 85% thing.  Haven't been that many people confirming it for an official thread.

For all we know, there may be two types of people on this thread.  1) People who have invested and 2) (sock)puppets (sorry, couldn't resist) from other companies spreading FUD amongst their oppositions customers.  Considering the amounts of money involved, I would question the motivations of anyone on this thread.

[david123]

I'm also concerned by now, but not by the fact that the miner takes longer to be set up. If they are a ponzi and it's all about
vapour, then the miner is only a meaningless entry in a database.

[miner454]

I made an order for 2 Ths on 11/29/2014 and it has not been fulfilled yet.  The amount sent is correct and exact.
They are certainly taking a lot longer this time.  Are they running out of miners?

This would be an evidence of loss of money.

sorry but..

BIG RED FLAG

Just for the record, it's been all the time processed in less than 12 hrs.  Maybe the fact that I purchased this on Saturday afternoon (and through the weekend).

[miner454]

Everyone who's invested in this and hasnt made 100% ROI (that they did not reinvest) has lost money on this and are just hoping to get it back one day.
...

It's playing musical chairs and when the music stops, you hope that you already have your ROI back.

[raskul]

I made an order for 2 Ths on 11/29/2014 and it has not been fulfilled yet.  The amount sent is correct and exact.
They are certainly taking a lot longer this time.  Are they running out of miners?

This would be an evidence of loss of money.

sorry but..

BIG RED FLAG

Just for the record, it's been all the time processed in less than 12 hrs.  Maybe the fact that I purchased this on Saturday afternoon (and through the weekend).

please do let us know if / when that payment gets added to the pyramid.