PB Mining -- 5 year mining contracts!

[PBmining]

This is a total lost of around EUR 4,00€ per 10 GH/s contract !!!

In 5 years? And when Btc is 900$ in 2 year?

Bitcoin price would be irrelevant to the % lost.  I'm not sure why he is converting to fiat.  25% fictional difficulty increases wouldn't be good for anyone, whether you are running your own hardware or cloud mining.  He has spammed this twice now, but it's really not a secret -- we are obviously affected by high difficulty changes just like everyone else.

A lot of people seem to miss the point that we are in the same game as the rest of you are.  All we did was purchase hardware for "X" amount and sell the hash power for "X" amount (+ profit margin).  We don't control the difficulty, and we don't guarantee a positive ROI.  All we guarantee is that you get exactly what you paid for, and profit exactly as you would expect from your hash power at the current difficulty.  If difficulty changes remain extremely high, then it is not profitable whether you mine with us or buy your own hardware for the same price.  If difficulty slows down, then that's good news for all of us and we do the piggy dance.  Our early customers seem to be doing reasonably well, and we will do our best to keep the prices competitive in this market.

[oztusk]

This is a total lost of around EUR 4,00€ per 10 GH/s contract !!!

In 5 years? And when Btc is 900$ in 2 year?

Bitcoin price would be irrelevant to the % lost.  I'm not sure why he is converting to fiat.  25% fictional difficulty increases wouldn't be good for anyone, whether you are running your own hardware or cloud mining.  He has spammed this twice now, but it's really not a secret -- we are obviously affected by high difficulty changes just like everyone else.

A lot of people seem to miss the point that we are in the same game as the rest of you are.  All we did was purchase hardware for "X" amount and sell the hash power for "X" amount (+ profit margin).  We don't control the difficulty, and we don't guarantee a positive ROI.  All we guarantee is that you get exactly what you paid for, and profit exactly as you would expect from your hash power at the current difficulty.  If difficulty changes remain extremely high, then it is not profitable whether you mine with us or buy your own hardware for the same price.  If difficulty slows down, then that's good news for all of us and we do the piggy dance.  Our early customers seem to be doing reasonably well, and we will do our best to keep the prices competitive in this market.

think of how rich he would be if he would just type in 1% difficulty, and btc were 1000000eu...    

[PBmining]

When we get e-mails asking about profitability, I always tell them to download a spreadsheet program and to input different scenarios.  I think this is an excellent way to fully understand the different outcomes, and I encourage it.

[botolo86]

When we get e-mails asking about profitability, I always tell them to download a spreadsheet program and to input different scenarios.  I think this is an excellent way to fully understand the different outcomes, and I encourage it.

True! Can you share with us a formula that we can use on Excel? I would love to try some difficulty change and see when and how my piggies will become profitable. Thanks!

[testerman]

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

[cisary]

This is a total lost of around EUR 4,00€ per 10 GH/s contract !!!

In 5 years? And when Btc is 900$ in 2 year?

True miners who bought their own (expensive) ASICs like me would understand that more and more hashrate is all what miner's hearth need. I personally believe in Bitcoin's bright future and enjoy reinvesting mined mBTCs to buy more GH/s.. if you are also a trader, some mBTCs every week to trade with is great, isn't it? I can't simply sit on my BTCs so for that purpose I created paper wallet..

[jimmyl]

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

  Summary - testerman   Picture/Text
Name:   testerman
Posts:   1
Activity:   1
Position:   Newbie
Date Registered:   April 07, 2014, 09:40:51 AM
Last Active:   Today at 12:59:38 PM

[locopao]

about difficulty:

Difficulty: 6,119,726,089 ; Next(estimate) 6,352,162,708 (+4%) in 8 Days 15 hours ;
Source: http://btc.re/

that's good news i think.

[jseppeli]

about difficulty:

Difficulty: 6,119,726,089 ; Next(estimate) 6,352,162,708 (+4%) in 8 Days 15 hours ;
Source: http://btc.re/

that's good news i think.

I'd rather use https://bitcoinwisdom.com/bitcoin/difficulty

[locopao]

about difficulty:

Difficulty: 6,119,726,089 ; Next(estimate) 6,352,162,708 (+4%) in 8 Days 15 hours ;
Source: http://btc.re/

that's good news i think.

I'd rather use https://bitcoinwisdom.com/bitcoin/difficulty

i agree, that's what i am using, too, but you will see that the % of difficulty decreases day by day, so in the end it will probably the same as the one in the link i posted. For example, 3 days ago the "bitcoinwisdom difficulty" was at 22%. Today almost 5% down. Who knows...

[5ick3uffalo]

My understanding is Difficult Level and BTC prize is all that matters for us in the future, because i think PB Mining is doing their best they can for us to be fair.

It´s not right some people call it a Ponzi or Scam only because they keep their business model secret. I would keep it secret as much as i can also!

And, would you sell small amounts of GHS on ebay using rl information when you up to scam people off big time. Me not, to dangerous.

Most of my bitcoins i was holding for YEARS are in PB Mining (not own that much ,300GHS)
(Also was investing in Pyramining, but that not worked out well so i moved my BTC out of there and in here because in not want wait 70 years to break even, i´m long dead by then)

Then i thought what would be best for me? Buying 2-3 ANTS and mine with a whooping 0.26Euro /kwh electric costs and very noisy in my 3 room condo ?
Or just hold my remaining btc some years more? (which is no fun just hold, because i like the community here also, when i have questions can ask any time here)

I do mining myself also, but only have one Gridseed Miner and ordered one more for 155Euro today
Will they ever break even? I don´t know really, when yes good when not well then not, i learned setting them up with a rasberry and i´m more comfortable with this whole mining/btc stuff. A hobby.

For myself, i think it was the right decision invest here, hold some btc longterm and doing some mining just for fun.

[botolo86]

I just sold my GHS on CEX and bought 30 more GHS on PBMining! 

[5ick3uffalo]

I just sold my GHS on CEX and bought 30 more GHS on PBMining!  

How much is 1GHS now? Last time i was there 0.019 , was close to buy then someone spammed a ref link in trollbox from here, PBMining

[CLOUDMINING.GURU]

I just sold my GHS on CEX and bought 30 more GHS on PBMining!  

How much is 1GHS now? Last time i was there 0.019 , was close to buy then someone spammed a ref link in trollbox from here, PBMining

Currently +- 01065224BTC

[Darkwinde]

To get any sense if my contract is worth, I looked at one of my GHs purchases and here is the result...

Starting Position
Buy date: 24.02.2014
Count: 36GHS
Price: 0,3852063 BTC (182,20€)
BTC/EUR: 473€


Now
Date: 10.04.2014, 01:00 UTC+2
Days elapsed: 45
Payout: 0,18167172 (06.04.2014) + 0,00922957 (06 to 10.04.2014) = 0,19090129 BTC
ROI: -0,19430501
Average Dif Increase: 18,7% (24.02.2014 to 10.04.2014)
BTC/EUR: 324€


Calculation: https://bitcoinwisdom.com/bitcoin/calculator
18,7% average Dif Increase --> BTC Break Even in 136 days (25.08.2014)
22,05% average Dif Increase --> BTC Break Even in 503 days (25.08.2015)
25% average Dif Increase --> NO Break Even

200€/BTC & 22,05% average Dif Increase --> NO Break Even. Lost around 103€
324€/BTC & 22,05% average Dif Increase --> NO Break Even. Lost around 54€
463.3€/BTC & 22,05% average Dif Increase -->  Break Even in 497 days (05.07.2015)
473€/BTC & 22,05% average Dif Increase -->  Break Even in 243 days (24.10.2014)


Conclusion
For a BE I need an average difficulty increase at a maximum of 22,05%.
If I look at the difficulty changes since 06.09.2012, we see an overall average increase of 17,96%.
Should be achievable but you know what German say about horses in front of the pharmacy

The BTC/EUR or BTC/USD ratio is more volatile as the difficulty increase itself. If I want my money back the dif has not to increase over 22,05% and the BTC/€ market price has to raise above 463€
Some kind of brain f...right?
So lets hold the breath and hope fortune is with us in the great BTC-Gamble

[sdmathis]

Okay. I've got to know. What do Germans say about horses in front of the pharmacy? 

[Steiny217]

I really don't understand why you guys look at each individual contract and worry wether that lil bit is gonna break even for itself.  It's nice to see what each contract does but it is not needed and I think PBmining has only opened themselves up to all these silly comments that it's not profitable by doing so.  I've been mining over a year now mainly with actual hardware, I've been cloud mining for 2 months now....  When I add new hardware to my rig I don't worry about how much that specific piece of equipment is doing I worry about the TOTAL amount of GH/s I'm running at.  Of course I wanna make sure each piece is running at what it's suppose to be running at but what it is making per week I'm not worried about.  The TOTAL GH/s is what makes you money and is how I determine profitability.  I've made alot of money doing it this way, Well OVER my INVESTMENT.    I believe you guys are knit picking the shit out of this to the point that it's stupid.  YES, if I would of just invested into BTC itself and not mining I would of made more money, I know that now and I do alittle of that but I like mining and it's nice to have another form of pay coming in.   I know someone is probably gonna come along and tell me how I'm an idiot and blah blah blah I'm wrong but I've paid off my investment, my house, a car and bought some really nice things and even more miners by only paying attention to my TOTAL GH/s that my rigs combined have.  I hope this helps calm some of you guys down that think this is not profitable.  If you are only working with acouple GH/s it might not be profitable, but that's the way mining works, the more you have the more profitable you are gonna be!  PBmining is great!  Remember you are NOT paying any fees or electricity bills with PBmining either, unlike CEX. 

I'm also not sure what Germans say about horses in front of the pharmacy....... lol 

[jamieb81]

For the curious ones about the horses :

http://lumenatic.com/2011/06/26/when-horses-are-about-to-throw-up/

[oztusk]

I really don't understand why you guys look at each individual contract and worry wether that lil bit is gonna break even for itself.  It's nice to see what each contract does but it is not needed and I think PBmining has only opened themselves up to all these silly comments that it's not profitable by doing so.  I've been mining over a year now mainly with actual hardware, I've been cloud mining for 2 months now....  When I add new hardware to my rig I don't worry about how much that specific piece of equipment is doing I worry about the TOTAL amount of GH/s I'm running at.  Of course I wanna make sure each piece is running at what it's suppose to be running at but what it is making per week I'm not worried about.  The TOTAL GH/s is what makes you money and is how I determine profitability.  I've made alot of money doing it this way, Well OVER my INVESTMENT.    I believe you guys are knit picking the shit out of this to the point that it's stupid.  YES, if I would of just invested into BTC itself and not mining I would of made more money, I know that now and I do alittle of that but I like mining and it's nice to have another form of pay coming in.   I know someone is probably gonna come along and tell me how I'm an idiot and blah blah blah I'm wrong but I've paid off my investment, my house, a car and bought some really nice things and even more miners by only paying attention to my TOTAL GH/s that my rigs combined have.  I hope this helps calm some of you guys down that think this is not profitable.  If you are only working with acouple GH/s it might not be profitable, but that's the way mining works, the more you have the more profitable you are gonna be!  PBmining is great!  Remember you are NOT paying any fees or electricity bills with PBmining either, unlike CEX.  

I'm also not sure what Germans say about horses in front of the pharmacy....... lol  

I can't resist reminding you that 'nit' picking is spelled N-I-T! not 'k-n-i-t.'

i'll also sell you a few ghs for $100 apiece, since it doesnt matter how much they cost, right?

[oztusk]

had to post it for others' convenience..

'There is a German saying which goes “Ich habe schon Pferde vor der Apotheke kotzen gesehen”, which translates roughly to “I have seen horses throw up in front of the pharmacy”. It is a weird saying expressing that even the most unexpected thing might happen, everything is possible even if things look very clear and determined (The saying is so weird because horses can’t throw up. Their anatomy does not allow it).'


[thx, jamie]