PB Mining -- 5 year mining contracts!

[byt411]

You are not the first person to run around saying "Bitcoin mining isn't profitable!"
What you are doing is nothing original or revolutionary.  We get these kind of trolls every day.  
I would suggest you start your own Bitcoin mining business, one in which you sell the hash power for less than you purchased it for.  We would all sign up.    "Godlike Mining" has a very nice ring to it.  

Surely I'm not the first, but I'm here with good arguments I think.
Math is a good proof.

You are asking us to sell our hash power for less than what we purchased it for.  How is that reasonable?  

OK. I'll prove your maths wrong.
https://tradeblock.com/mining/a/d3e47a28c5

Done. Happy? Now stfu and gtfo.

Difficulty increase per month... 16%          
Let's stay real: 18% each 12 days = more or less 35% each month.
Link ->You won't ever get your money back.

Now, STFU and GTFO, mom's kiddy, and don't even answer, putting you useless **** in ignore  

Lol ok, I thought that was difficulty increase/increase. Even if it's 35% per month, you still make a profit, look at the calculator.

[1713946562]

1713946562

[1713946562]

1713946562

[PBmining]

Godlike, I respect your opinions, but can you stop the name calling and rude behavior?  

[GODLIKE]

Godlike, I respect your opinions, but can you stop the name calling and rude behavior?  

Of course I can, he started with gtfo and stuff.
He begun the arrogance, not me.
Also, what name calling?  

Anyway, the thing ends here for me.
I'll just warn users about what they are buying when they pop up.
You lower your prices and make it a working service, then I won't warn anybody of anything  
You got my money for free, dude, this is the result  

[GODLIKE]

You are not the first person to run around saying "Bitcoin mining isn't profitable!"
What you are doing is nothing original or revolutionary.  We get these kind of trolls every day.  
I would suggest you start your own Bitcoin mining business, one in which you sell the hash power for less than you purchased it for.  We would all sign up.    "Godlike Mining" has a very nice ring to it.  

Surely I'm not the first, but I'm here with good arguments I think.
Math is a good proof.

You are asking us to sell our hash power for less than what we purchased it for.  How is that reasonable?  

OK. I'll prove your maths wrong.
https://tradeblock.com/mining/a/d3e47a28c5

Done. Happy? Now stfu and gtfo.

Difficulty increase per month... 16%          
Let's stay real: 18% each 12 days = more or less 35% each month.
Link ->You won't ever get your money back.

Now, STFU and GTFO, mom's kiddy, and don't even answer, putting you useless **** in ignore  

Lol ok, I thought that was difficulty increase/increase. Even if it's 35% per month, you still make a profit, look at the calculator.

LOL NO!
You never get back the money you spent!
Look at the cumulative return: you never get back over 0 again!

And, yes, GHASH is even worse!
They base their business on the fact that people will trade BTC on GH/s but if you fail on selling your GH/s on the right moment, you waste any mining you have done.

I don't have experience with other cloud mining services, these 2 were enough!  

[byt411]

You are not the first person to run around saying "Bitcoin mining isn't profitable!"
What you are doing is nothing original or revolutionary.  We get these kind of trolls every day.  
I would suggest you start your own Bitcoin mining business, one in which you sell the hash power for less than you purchased it for.  We would all sign up.    "Godlike Mining" has a very nice ring to it.  

Surely I'm not the first, but I'm here with good arguments I think.
Math is a good proof.

You are asking us to sell our hash power for less than what we purchased it for.  How is that reasonable?  

OK. I'll prove your maths wrong.
https://tradeblock.com/mining/a/d3e47a28c5

Done. Happy? Now stfu and gtfo.

Difficulty increase per month... 16%          
Let's stay real: 18% each 12 days = more or less 35% each month.
Link ->You won't ever get your money back.

Now, STFU and GTFO, mom's kiddy, and don't even answer, putting you useless **** in ignore  

Lol ok, I thought that was difficulty increase/increase. Even if it's 35% per month, you still make a profit, look at the calculator.

LOL NO!
You never get back the money you spent!
Look at the cumulative return: you never get back over 0 again!

And, yes, GHASH is even worse!
They base their business on the fact that people will trade BTC on GH/s but if you fail on selling your GH/s on the right moment, you waste any mining you have done.

I don't have experience with other cloud mining services, these 2 were enough!  

Wrong. In a year, you would've gained 0.000366BTC as profit. It says that, you know. The contract is for 5 years too.
Calling names basically means insulting people.
This proves that your entire statement and argument is wrong: You will profit.

[GODLIKE]

You are not the first person to run around saying "Bitcoin mining isn't profitable!"
What you are doing is nothing original or revolutionary.  We get these kind of trolls every day.  
I would suggest you start your own Bitcoin mining business, one in which you sell the hash power for less than you purchased it for.  We would all sign up.    "Godlike Mining" has a very nice ring to it.  

Surely I'm not the first, but I'm here with good arguments I think.
Math is a good proof.

You are asking us to sell our hash power for less than what we purchased it for.  How is that reasonable?  

OK. I'll prove your maths wrong.
https://tradeblock.com/mining/a/d3e47a28c5

Done. Happy? Now stfu and gtfo.

Difficulty increase per month... 16%          
Let's stay real: 18% each 12 days = more or less 35% each month.
Link ->You won't ever get your money back.

Now, STFU and GTFO, mom's kiddy, and don't even answer, putting you useless **** in ignore  

Lol ok, I thought that was difficulty increase/increase. Even if it's 35% per month, you still make a profit, look at the calculator.

LOL NO!
You never get back the money you spent!
Look at the cumulative return: you never get back over 0 again!

And, yes, GHASH is even worse!
They base their business on the fact that people will trade BTC on GH/s but if you fail on selling your GH/s on the right moment, you waste any mining you have done.

I don't have experience with other cloud mining services, these 2 were enough!  

Wrong. In a year, you would've gained 0.000366BTC as profit. It says that, you know. The contract is for 5 years too.
Calling names basically means insulting people.
This proves that your entire statement and argument is wrong: You will profit.

Insulting people is also telling them GET THE FUCK OUT and SHUT THE FUCK UP, in my opinion, because you miss respect to them, and insulting is essentially this: having no respect for somebody.
Don't play dumb with me, you go nowhere.
And now I really put you in ignore as I hate wasting time this way.
Not even answering to your supposed profit, nonsense. Adieux.

[byt411]

You are not the first person to run around saying "Bitcoin mining isn't profitable!"
What you are doing is nothing original or revolutionary.  We get these kind of trolls every day.  
I would suggest you start your own Bitcoin mining business, one in which you sell the hash power for less than you purchased it for.  We would all sign up.    "Godlike Mining" has a very nice ring to it.  

Surely I'm not the first, but I'm here with good arguments I think.
Math is a good proof.

You are asking us to sell our hash power for less than what we purchased it for.  How is that reasonable?  

OK. I'll prove your maths wrong.
https://tradeblock.com/mining/a/d3e47a28c5

Done. Happy? Now stfu and gtfo.

Difficulty increase per month... 16%          
Let's stay real: 18% each 12 days = more or less 35% each month.
Link ->You won't ever get your money back.

Now, STFU and GTFO, mom's kiddy, and don't even answer, putting you useless **** in ignore  

Lol ok, I thought that was difficulty increase/increase. Even if it's 35% per month, you still make a profit, look at the calculator.

LOL NO!
You never get back the money you spent!
Look at the cumulative return: you never get back over 0 again!

And, yes, GHASH is even worse!
They base their business on the fact that people will trade BTC on GH/s but if you fail on selling your GH/s on the right moment, you waste any mining you have done.

I don't have experience with other cloud mining services, these 2 were enough!  

Wrong. In a year, you would've gained 0.000366BTC as profit. It says that, you know. The contract is for 5 years too.
Calling names basically means insulting people.
This proves that your entire statement and argument is wrong: You will profit.

Insulting people is also telling them GET THE FUCK OUT and SHUT THE FUCK UP, in my opinion, because you miss respect to them, and insulting is essentially this: having no respect for somebody.
Don't play dumb with me, you go nowhere.
And now I really put you in ignore as I hate wasting time this way.
Not even answering to your supposed profit, nonsense. Adieux.

Telling you to shut up and go away isn't insulting at all. How did I disrespect you? Perhaps you cannot interpret it properly.
Also, I'm not playing dumb; I am backing up my argument that profit is possible with an actual calculation, and you can see it with your own eyes. If you lose a debate, you accept your defeat, and not blab nonsense like you just did.

[PilotofBTC]

This thread is too funny. We had one guy for 5 pages tell us that you can't even pay for the electricity at the prices PB Mining is charging.

Now, we have GODLIKE telling us their prices are much too high and they are making too much money.

[GODLIKE]

This thread is too funny. We had one guy for 5 pages tell us that you can't even pay for the electricity at the prices PB Mining is charging.

Now, we have GODLIKE telling us their prices are much too high and they are making too much money.

You are free to believe who/what you want.
You can believe an alias advertising PBMining.
Or you can believe somebody who put under your eyes some math.
Your choice  

I can help against ignorance, but have no time or power to fight stupidity.

[byt411]

This thread is too funny. We had one guy for 5 pages tell us that you can't even pay for the electricity at the prices PB Mining is charging.

Now, we have GODLIKE telling us their prices are much too high and they are making too much money.

You are free to believe who/what you want.
You can believe an alias advertising PBMining.
Or you can believe somebody who put under your eyes some math.
Your choice 

Accept your defeat and your incompetence at maths. I've already proven you wrong.

[Biomech]

You better lower your prices and give back at least some chance of recovery of investment or you'll find me here wasting your efforts every time I'll find a minute.

That type of threat is illegal in most countries, I believe.  We will continue selling our hash power for what it's worth on the market.  The buyers set the price in the end, not us.  Supply and Demand.

Threat? I am threating you that I will make your possible users aware of your "product", that's all.
I will warn users that when they buy XX GH/s at YY price they won't almost surely get back their investment.

And if you think you can scare me with words you are far by a long long long shot, kiddy  

I will point out the failure in your scenario. The one you cannot control for. Electicity cost. RIGHT NOW, as I understand it from my European friends, any exisiting 1st gen ASIC device is unprofitable due to power consumption. Yet here, in Idaho, that same machine would still be fine. That in itself militates against cloud mining being a scam. Some, yes, but pb has always been about on par with an Antminer running for a month. Except that the contract runs for 5 years...

If you want to make a profit INSTANTLY, or even fantastically like the early days of the Asic miners. yeah, you're fucked. Those days are done and probably forever. Want a decent income stream over five years, that's a different story. Even without referrals I would have broken even a month and a half ago, and I bought at significantly higher prices than current, and the diff rises had not leveled off yet.

There are just too many factors for you to make the blanket statements you are. At anything north of 20 cents/KWH, pbmining is a better deal than any hardware currently available to the average person. Yeah, if you got the money for the cannons, you can beat that. But for the rest of us, it's a small but nice payout every sunday.

[rodeoclownicp]

omg... byt411 is an idiot asskissing fuck tard... the guy wont shut up.. i think he thinks he is really important, every thread i goto he fields questions as if it were his pool or hosting site... the dude is just a dick -thats life... "teacher you forgot to assign homework" , "i'm telling" and when they get a little older you got to deal with this bull shit... i am not even going to look i dont care enough but if the guy was pointing out that dificulty is out pacing price reduction - then he is just existing as part of the market-same as an ass kisser does-just one of them thinks for himself

[GODLIKE]

You better lower your prices and give back at least some chance of recovery of investment or you'll find me here wasting your efforts every time I'll find a minute.

That type of threat is illegal in most countries, I believe.  We will continue selling our hash power for what it's worth on the market.  The buyers set the price in the end, not us.  Supply and Demand.

Threat? I am threating you that I will make your possible users aware of your "product", that's all.
I will warn users that when they buy XX GH/s at YY price they won't almost surely get back their investment.

And if you think you can scare me with words you are far by a long long long shot, kiddy  

I will point out the failure in your scenario. The one you cannot control for. Electicity cost. RIGHT NOW, as I understand it from my European friends, any exisiting 1st gen ASIC device is unprofitable due to power consumption. Yet here, in Idaho, that same machine would still be fine. That in itself militates against cloud mining being a scam. Some, yes, but pb has always been about on par with an Antminer running for a month. Except that the contract runs for 5 years...

I stop you right here.
Re-read the bold.

After 6 months, your profit is 10% of what it was in the first 12 days.
After 1 year your profit is 1% of what it was in the first 12 days.

To say it more clearly: it doesn't matter how many years the contract is, because the real earning is in the first year.
After that, you earn practically nothing. You keep getting nearer to your initial investment by smaller and smaller dust grains, but never reach it.
This is because you lose around 18% of income each 12 days, no matter what.
So if your initial investment is over a certain price, you will never make it back.

Keep in mind 50 PHs will be put into the flow soon.

About electricity: you barely make it by buying hardware, basically after 6 months/1 year that hardware becomes useless.
If you don't pay electricity, you can essentially cut down the price of the hardware by a measure, but it doesn't get much better.
The difference between your own hardware and cloud mining is that with your hardware you can get back your investment in the first few months or in the year, and cut something over it, and then you can trash it, but the cost per GHs offered by cloud mining will never allow that.
This could have been different in the past, but now it's like this.

[Mike18feb]

Why oh why does every thread on Bitcointalk get infected with religious fanatics who try to enforce their views upon others 

[GODLIKE]

Why oh why does every thread on Bitcointalk get infected with religious fanatics who try to enforce their views upon others 

Nobody is trying to enforce anything.
If I only had read a thread like the one I had post, I didn't put my money into cloud mining, that's why I posted it.
Now, either you have some ARGUMENT against math, or you better let it be and not try to enforce your faith vision without other arguments than "I am right".

[raskul]

Why oh why does every thread on Bitcointalk get infected with religious fanatics who try to enforce their views upon others 

Nobody is trying to enforce anything.
If I only had read a thread like the one I had post, I didn't put my money into cloud mining, that's why I posted it.
Now, either you have some ARGUMENT against math, or you better let it be and not try to enforce your faith vision without other arguments than "I am right".

here's a hypothetical question for you, and one which may give you some idea what your words make you look like, in your attitude and stature;

If you were to go into a clothes shop and see some item of clothing, say it's a suit for a wedding - you are to be married. The suit is an item of clothing which you know that you will ever only wear once, and it will not be worn ever again, after your wedding day.
The suit cost $3500.
Do you
A) decline to buy quietly and leave the shop, or
B) stand ranting at the customers, shouting and wailing at how hard-done-to they are?


currently, you are performing B.
think about it, my friend.

[GODLIKE]

Why oh why does every thread on Bitcointalk get infected with religious fanatics who try to enforce their views upon others 

Nobody is trying to enforce anything.
If I only had read a thread like the one I had post, I didn't put my money into cloud mining, that's why I posted it.
Now, either you have some ARGUMENT against math, or you better let it be and not try to enforce your faith vision without other arguments than "I am right".

here's a hypothetical question for you, and one which may give you some idea what your words make you look like, in your attitude and stature;

If you were to go into a clothes shop and see some item of clothing, say it's a suit for a wedding - you are to be married. The suit is an item of clothing which you know that you will ever only wear once, and it will not be worn ever again, after your wedding day.
The suit cost $3500.
Do you
A) decline to buy quietly and leave the shop, or
B) stand ranting at the customers, shouting and wailing at how hard-done-to they are?


currently, you are performing B.
think about it, my friend.

This is not a shop, it's a forum.
Forums are made to talk about stuff.
This forum is made to talk about bitcoin related stuff.
Think of it, my friend.

[raskul]

I suspected this might be your response. In this your attitude and stature makes you look like one who definitely needs that wedding (or at least some form of physical relationship to allow you to feel and look a little less troll-like.)

[GODLIKE]

It's fun to see how you all with mining services in your signature attack me just because I am showing some simple math 

So I show it again. Don't trust me, trust these guys that set up this website.

GHASH.IO - https://tradeblock.com/mining/a/dee185c118

PBMining - https://tradeblock.com/mining/a/1ee5110f01

The only thing you can attack me on is the difficulty change, but that's practically a no go as well, especially now when the last rise was over 24%.

Difficulty rises by around 18% every step.
Steps happen around every 12 days.
To make it simple: every month difficulty raises around 32%.

Links are provided.
Everything else you say is fried air  

[po1992one]

After 6 months, your profit is 10% of what it was in the first 12 days.
After 1 year your profit is 1% of what it was in the first 12 days.

This is because you lose around 18% of income each 12 days, no matter what.
So if your initial investment is over a certain price, you will never make it back.

You just playing with percent math and do not think more deeply if it is even possible for difficulty to increase 100x in one year from now. The newest S3 are just about 2x more power effecient than S1.

If your right and average network power effeciency is as S3, the cost of mining ensures one Bitcoin has to be at least 10 000 USD just to pay electricity...

Possible in 1 year: yes, likely: no