PB Mining -- 5 year mining contracts!

[tuanvie]

pbmining income is getting smaller,
what because the higher the diff?

[n2004al]

pbmining income is getting smaller,
what because the higher the diff?

Sure. It will be smaller and more smaller in time.

[damiano]

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?  

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

This is exactly how I am feeling and another question (most important) is,  Will PB mining be around 5 years from now? 

[rodeoclownicp]

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?  

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

ya know to compare your self to those who have roi you would need to know there gh price than lower buying price by the same percentage of dificulty increase if the price drop is not equal to dificulty rise then your paying more per gh than those who have roi.. so as time goes on quality of investment goes down... for instance moving price .0041 to .0040 is a 2.4% drop.. pb usually hits it twice near difficulty changes, i do not feel like doing a bunch of simple yet time consuming math but i think the price verse dificulty increase is about 5% difference ... keep in mind percentages do not add together...so the early bird did get the worm but right now is the time to convert cash to btc to buy a contract...lets say some one bought 3 months ago and roi...btc would only have to rise 25% to be on par with them if btc rises and you didnt convert usd to btc the 25% (125usd)rise is meaningless(the rise is an assumption) and you will not benefit.. if you use btc u already have ignore the benifit as well - there would be no upside

[PilotofBTC]

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

[rodeoclownicp]

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

[SlientBit]

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

I've been one of those persons

So far, I still think the best approach is to concentrate in BTC ROI - that's the first step, to check/guarantee that the investment is solid and gives profits (no matter how meager) in BTC. All posted empirical data point towards getting breakeven in BTC on the 4th month, per contract (this is important, 'cause if you have several contracts that aren't from the same day, total breakeven will always depend on the last contract's date)

Of course I also worry about profitability as a whole, and as such, I also keep track of ROI in fiat, but that is clearly a more difficult task - my current calculations point to somewhere between October and November in worst case scenario, if BTC/fiat prices remain within a 20% band from current rate.

And that's just why I keep focused on BTC-only ROI: I used cheap BTC (end of March throughout April) to buy the contracts I have with PB, and at current BTC/fiat rates, when I reach BTC breakeven, I'm already making profits in fiat

Of course, it'll all go down the drain if BTC takes a new dive, hence my 20% band calculations and worst case scenario choice.

Hope this helps clarifying my and some others view on ROI - and at least, the discussion can help us all to better take care of our crypto investments

[raskul]

i don't give a toss about your funny-money
1BTC = 1BTC and i'll spend it where and how i damn well like 

[rodeoclownicp]

right now is an amazing time to buy contracts, you will be saving on the front end and if btc goes back up you will get it on both, this seems like a rare chance to get in at a great price... best of luck

http://pbmining.com?ref=rodeoclownicp

[VJain]

Since pay-day is coming up, can people who use the App please take note if everything updates correctly?

[Steiny217]

Since pay-day is coming up, can people who use the App please take note if everything updates correctly?

I just sent you a tip of 0.02BTC Great app!  Can't wait to see what else ya do with it!   

[Kashim]

best time to buy contracts atm

[TimS]

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

[psybits]

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

PB Mining has been going strong for me for a couple of months I've got no complaints.

[PBmining]

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

I would dig through it for you, but I could also just summarize it in one word: privacy.   If you don't like the lack of transparency, CEX.IO offers great service as well which may better suit your tastes.  There is also the option of purchasing your own hardware, rather than cloud mining.  Whichever you choose, best of luck to you.  

[Biomech]

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

Thank you guys! Finally somebody gets it. I've been saying this for two years now!!!

If you invest in bananas, and the bottom drops out but you trade them for papayas and that market rises, the profit is STILL valid, regardless of the form it takes. If you invested USD into a mining device when BTC was at 20 dollars and caught the rise to 1200, and then cashed out your difference, you made a profit. Currently, the only mining I'm not even or profitable on is my gridseed, cuz I've only had it a couple weeks. At this time, electricity is not yet a killer for me, and my equipment has broken even, even though it's small. In one case it was free, in the others I have made my investment back. In some cases it was in BTC and others it was in Fiat, and others it was other cryptos. Currently, most of my BTC earnings and all of my alt earnings are going into TEK for it's staking and IMAO, it's long term value.

Profit is gain. It's form is only relevant statistically. If you have gained over your investment, you have profited.

The only argument on this that I've seen that I agree with is that in the long term, holding BTC *might* be a higher profit. But you never know, given the volaltility of the market.

[raskul]

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

Thank you guys! Finally somebody gets it. I've been saying this for two years now!!!

If you invest in bananas, and the bottom drops out but you trade them for papayas and that market rises, the profit is STILL valid, regardless of the form it takes. If you invested USD into a mining device when BTC was at 20 dollars and caught the rise to 1200, and then cashed out your difference, you made a profit. Currently, the only mining I'm not even or profitable on is my gridseed, cuz I've only had it a couple weeks. At this time, electricity is not yet a killer for me, and my equipment has broken even, even though it's small. In one case it was free, in the others I have made my investment back. In some cases it was in BTC and others it was in Fiat, and others it was other cryptos. Currently, most of my BTC earnings and all of my alt earnings are going into TEK for it's staking and IMAO, it's long term value.

Profit is gain. It's form is only relevant statistically. If you have gained over your investment, you have profited.

The only argument on this that I've seen that I agree with is that in the long term, holding BTC *might* be a higher profit. But you never know, given the volaltility of the market.

for many of us, holding our bitcoins for the long term is just not feasible, yes, it's inevitable that in years to come, BTC will be an awe-worthy value upon which we will all say "I wish i'd just held onto those..." but in the real world, this isn't always achievable for many people.

What is achievable,  is that we, as a community can keep mining in one way or another, continuing with the enjoyment of seeing the network upheld and pursuing the effort to 'keep up' with difficulty.

Yes, currently; we are at a boom, bitcoin is still very new and the current value is still very decent in the scheme of things. Decent enough so that people are not left behind, when they need to cash out to pay bills...

To any disbelievers in any method, company, cloud, manufacturer; remind me how many block halving we have had, to date?

there is a long way to go.

[rodeoclownicp]

pizzzzaid    ... first to say it 3 weeks in a row

[VJain]

pizzzzaid    ... first to say it 3 weeks in a row

Looks like my app updated it! (Manual pulldown request, it hasn't auto-updated yet). And no issue this time around =]

https://play.google.com/store/apps/details?id=com.coniform.pbmin

[testerman]

oink!