PB Mining -- 5 year mining contracts!

[jonsi]

As of June 25th we are no longer allowing users to change their e-mail addresses under their PB Mining profile.  The e-mail address you register with is now intended to be a permanent link to your account.

We apologize if this is an inconvenience to users who try to sell their accounts, and we have done our best to cater to everyone's wishes.  However it has caused more frustration than it's worth for everybody.

This is also a reminder to make sure your PB Mining password is different than your e-mail password. For someone to change the payout address under your account, they would need access to both your PB Mining account AND your e-mail address.  For this reason, the passwords should be completely different.  You can change your password under "Your Profile" settings.  

This is not right. The users who purchased until now have done that knowingly that they could change their email address. You can't jut force this upon a 5 year contract that was bought under different terms. Maybe someone has a payd email service and doesn't want to renew it, or has it's address on his own domain and he doesn't wish to prolonge it no more. There are more reasons beside selling the account. It's wrong to change the terms on a contract that someone has no way out of it.

We will manage it on a case by case basis.  A user will have to provide valid reasons and possibly further verification before the change would be made.  Also, the option to change the e-mail address was never an option in the first place.  People have always made special requests for it, about half of them being attacks on hacked e-mail accounts.

Well, in this case, I think it's fair.

-edit-
 and i support the change (I am a customer).
-edit-

[Steiny217]

I recently had you guys change my e-mail because for whatever reason MY Yahoo.com account doesn't like to let e-mails from what appears to be only Bitcoin related e-mail like CEX......  Getting them to change my e-mail was a PAIN, much more then it was PBmining which I appreciate.  As long as people that end up in a situation such as mine or something close to that nothing shady are able to change theirs, I see no issues.

I do agree with others that we need 2FA.  I'd say to lessen the burden on you, do 2FA and allow customers to change their passwords and payout requiring 2FA, that should lower the bogus/fraudulent support e-mails. Just my opinion....

[PBmining]

I recently had you guys change my e-mail because for whatever reason MY Yahoo.com account doesn't like to let e-mails from what appears to be only Bitcoin related e-mail like CEX......  Getting them to change my e-mail was a PAIN, much more then it was PBmining which I appreciate.  As long as people that end up in a situation such as mine or something close to that nothing shady are able to change theirs, I see no issues.

I do agree with others that we need 2FA.  I'd say to lessen the burden on you, do 2FA and allow customers to change their passwords and payout requiring 2FA, that should lower the bogus/fraudulent support e-mails. Just my opinion....

I believe you have hit the nail on the head here with a very relevant issue.  I've been dealing with all morning with a yahoo e-mail registered PB Mining user not being able to make changes with his account.  His Yahoo address was not receiving any password/address confirmation e-mails.  

And then I came across this:
http://blog.bitbargain.com/post/65398682572/do-not-use-yahoo-for-mail

[Steiny217]

I recently had you guys change my e-mail because for whatever reason MY Yahoo.com account doesn't like to let e-mails from what appears to be only Bitcoin related e-mail like CEX......  Getting them to change my e-mail was a PAIN, much more then it was PBmining which I appreciate.  As long as people that end up in a situation such as mine or something close to that nothing shady are able to change theirs, I see no issues.

I do agree with others that we need 2FA.  I'd say to lessen the burden on you, do 2FA and allow customers to change their passwords and payout requiring 2FA, that should lower the bogus/fraudulent support e-mails. Just my opinion....

I believe you have hit the nail on the head here with a very relevant issue.  I've been dealing with all morning with a yahoo e-mail registered PB Mining user not being able to make changes with his account.  His Yahoo address was not receiving any password/address confirmation e-mails.  

And then I came across this:
http://blog.bitbargain.com/post/65398682572/do-not-use-yahoo-for-mail

Yup, Yahoo! is no bueno......   It's sad that companies like Yahoo! are pulling these kinds of shenanigans...... 

[androhide]

Thanks to PBmining admin..
My problem was solved.
Nothing gonna stop me from hashing here..

[androhide]

What should I do to punish my account hacker?
1. Hack my pbmining account
2. Hack my yahoo account
3. Steal my wallet btc

I have tracked the hacker..
1. He was my refferer in Pbmining username : theoldman
2. He was sharing a miner program, i don't ever think my refferer would do something like hacking my pc with keylogger + rat from that miner.exe.

Maybe i will report this person to the cyber crime.
Hope you got caught soon.

[AirC]

So how would give my friend my gh/s if I no longer wanted them?

[PBmining]

So how would give my friend my gh/s if I no longer wanted them?

There is nothing wrong with giving an account to a friend.  The BTC address can be changed to his.  I would like to add some more security measures before we ever go trigger happy with the e-mail changing procedure though.  It's possible to change the e-mail right now, but there will be a much heavier verification procedure involved, and the reason needs to be substantial.  Does that sound fair?  

[tsm]

I noticed your giveaway, will there be always be one winner from now on?

[PBmining]

I noticed your giveaway, will there be always be one winner from now on?

That will be a surprise.     We will make it interesting, and have had a lot of ideas to play with.

[leozzo]

Men why you cant know that you will be NEVER reach the breakeven? Diff change +20% every 2 weeks

Leo

[PBmining]

Men why you cant know that you will be NEVER reach the breakeven? Diff change +20% every 2 weeks

Leo

I know, right?  We should just give you free hash power so that you are guaranteed to break even, no matter what! 

[Sydboy]

I can't believe people pay for 5 years worth of mining.
Most companies in bitcoin world barely can stay active for more than 5 minutes.

[Don007]

I can't believe people pay for 5 years worth of mining.
Most companies in bitcoin world barely can stay active for more than 5 minutes.

Well, the hashrate you rent now won't be worth much later on. I think it's quite worthless in about a year, as there are way more efficient ASICs on the market by then and the difficulty of the Bitcoin has increased a lot again. 

An exception to this is that if you have rented a lot of hashrate. Sure, you will still get an income in 1-2 years, but it won't be much.  However, the target is to ROI before that time .  I think it's a bit of a marketing strategy to promote 5 years of mining (allthough I believe they keep your hashrate running).

[Group Bitcoin]

I can't believe people pay for 5 years worth of mining.
Most companies in bitcoin world barely can stay active for more than 5 minutes.

They don't. There's no mining here. Just mixed coins.

[byt411]

I can't believe people pay for 5 years worth of mining.
Most companies in bitcoin world barely can stay active for more than 5 minutes.

They don't. There's no mining here. Just mixed coins.

Although that might be true, I trust PBMining, and I believe that they are legit.
Even cex.io has been around for some time.

[VJain]

Fixed the app to show proper price per gh/s... seems like my cheap server is crashing randomly ~_~.

App can be downloaded for android here - https://play.google.com/store/apps/details?id=com.coniform.pbmin

[Group Bitcoin]

I can't believe people pay for 5 years worth of mining.
Most companies in bitcoin world barely can stay active for more than 5 minutes.

They don't. There's no mining here. Just mixed coins.

Although that might be true, I trust PBMining, and I believe that they are legit.
Even cex.io has been around for some time.

Some lovely basic math, cheapest area in the US for electricity widely agreed is Washington at around $0.10 per Kwh.

Currently ASIC hardware efficiency is around 1w per GH/s, things like Terraminers much worse anyway so anyway 1w per GH/s... 1000GH/s = 1TH/s at PB's current price around $2000 ($2 per GH/s)...

Cost to run the TH/s for 5 years in electricity alone in the one of the cheapest regions in the world... with zero magical free hardware, free cooling, free giant mega mine, free insurance, free staff just electricity is $0.10per Kwh x 24 for the day x 365 for the year x 5Years because that's what they say.

This is... and please work it out... $4380

Regardless of payouts. Irrefutable evidence they are not doing what the claimmmmmm. Boom

This is not opinion, oh I think they're dodgey blah blah blah... It's mathematical fact.

Current investors better get busy on the Affiliate program to keep getting payouts.

[PilotofBTC]

Currently ASIC hardware efficiency is around 1w per GH/s, things like Terraminers much worse anyway so anyway 1w per GH/s... 1000GH/s = 1TH/s at PB's current price around $2000 ($2 per GH/s)...

1w per GH/s for how long?

If it is 1w per GH/s and 1w is .001 kwh at .10 = .0001 per GH/s in electricity costs?

1000GH/s = 1000w x 87600hours (10years) = 87600 kwh x .10 = $876 / 1000 = .876cents per GH/s for electricity.

Also, cloudhashing is going to be selling contracts at $1.99 per GH/s starting aug 1. Are you saying that doesn't even cover the electricity for the year of the contract?

[Group Bitcoin]

Currently ASIC hardware efficiency is around 1w per GH/s, things like Terraminers much worse anyway so anyway 1w per GH/s... 1000GH/s = 1TH/s at PB's current price around $2000 ($2 per GH/s)...

1w per GH/s for how long?

If it is 1w per GH/s and 1w is .001 kwh at .10 = .0001 per GH/s in electricity costs?

1000GH/s = 1000w x 87600hours (10years) = 87600 kwh x .10 = $876 / 1000 = .876cents per GH/s for electricity.

Also, cloudhashing is going to be selling contracts at $1.99 per GH/s starting aug 1. Are you saying that doesn't even cover the electricity for the year of the contract?

1w per GH/s for how long? Doesn't make sense as a reply question... we know how long it's supposed to be 5 year contracts, why are you talking about 10years ?

1w per GH/s is the efficiency of the hardware, 1w of electricity per GH/s...

Sooooo 1000GH/s uses 1000w (1Kw)... 1TH/s would use 1KW  

1Kw at $0.10 per Kwh (Washington price) run for 5 years is over $4000 FACT.

FOR ELECTRICITY ALONE. There is no such thing as free data centers and hardware to go along with that.

It should be called PB mysterious payouts not 'mining' because they are not. Maths is quite well respected it's running the computer your reading this on and it clearly proves the utter impossibility to mine for 5 years with no further fees at $2 per GH/s.