PB Mining -- 5 year mining contracts!

[allcoinminer]

Any one got ROI from this PBMining hashing shares?
Else how much is your ROI % now from start?

Here´s an idea. Try reading a few pages of posts.

But no posts says about their actual ROI.
I will dig in more of the previous pages.
If you know link me.

Well, myself I´ve been invested here for just over a month.

Oldest contract from 10/16

30 ghs, cost .048 payout so far 0.01211488

So, it yields about 25%/month at the moment.

So, it will take a lot to break even or will never break even in BTC terms since its only 25% in a month and lowering.

[1714906271]

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[Puppet]

AMT screwed the pooch. I didn't endorse them

You gave them a glowing review of a freebee POS miner that didnt even come close to meeting its published specs (and broke down 2 months later IIRC?) All the while paying customers received diddly squat and no one with a brain would believe the specs and timelines they published. But they were the real deal according to biomech.

They've treated me well

As did AMT. I quote "They've done well by me".

and I have yet to hear of any of their customers not being paid.

Which applies to any ponzi, right until when it collapses.

It's been long enough that I doubt very much  that it would have been sustainable as a ponzi.

You cant be that naive.  Have you even tried doing the math?

My thought from day one is that they are seling half of the hash they purchase, and using that to sustain profitability.

Or maybe you are  

I have no direct proof one way or the other.

So how is that good enough ? Would you endorse or preorder hardware from a company that offers no direct proof of anything ?  Indeed you have ZERO proof of their identity. You have ZERO proof they are even mining at all. No pictures. No asic vendor endorsement. No mining address. Your payouts dont come from mining, they come from coin mixers. This has all the credibility of the Nigerian prince that emailed you yesterday. Why dont you put that in your sig? Let me guess, they dont offer referral rewards?

[galdur]

Any one got ROI from this PBMining hashing shares?
Else how much is your ROI % now from start?

Here´s an idea. Try reading a few pages of posts.

But no posts says about their actual ROI.
I will dig in more of the previous pages.
If you know link me.

Well, myself I´ve been invested here for just over a month.

Oldest contract from 10/16

30 ghs, cost .048 payout so far 0.01211488

So, it yields about 25%/month at the moment.

So, it will take a lot to break even or will never break even in BTC terms since its only 25% in a month and lowering.

Let me google something for you

http://bit.ly/1uHxnYR

[coinmaster222]

I have no proof one way or another just gut feeling and that got me through two wars.I am sure pb mining dont mine anywhere

[Biomech]

AMT screwed the pooch. I didn't endorse them

You gave them a glowing review of a freebee POS miner that didnt even come close to meeting its published specs (and broke down 2 months later IIRC?) All the while paying customers received diddly squat and no one with a brain would believe the specs and timelines they published. But they were the real deal according to biomech.

They've treated me well

As did AMT. I quote "They've done well by me".

and I have yet to hear of any of their customers not being paid.

Which applies to any ponzi, right until when it collapses.

It's been long enough that I doubt very much  that it would have been sustainable as a ponzi.

You cant be that naive.  Have you even tried doing the math?

My thought from day one is that they are seling half of the hash they purchase, and using that to sustain profitability.

Or maybe you are  

I have no direct proof one way or the other.

So how is that good enough ? Would you endorse or preorder hardware from a company that offers no direct proof of anything ?  Indeed you have ZERO proof of their identity. You have ZERO proof they are even mining at all. No pictures. No asic vendor endorsement. No mining address. Your payouts dont come from mining, they come from coin mixers. This has all the credibility of the Nigerian prince that emailed you yesterday. Why dont you put that in your sig? Let me guess, they dont offer referral rewards?

Oh, hell.
I shouldn't take the bait, but what the hell. I did indeed contact pbmining directly early on. I was asked to not reveal their identities beyond what was publicly known. But they did give me their names, which seemed to check out. I have said this as well, much earlier in the thread. It keeps coming around, and the fact that they are still able to pay out after this much time makes me think the ponzi cries are false. I could be wrong. But I don't think I am. I have them in my sig, and unless someone can prove they are not paying out, it will continue.

My report was hardly glowing on AMT. The miner worked, but it was a technobit HEX 16, not an original board. I was also very new to the scene. One board did blow out four months in, due to heating issues. According to Marto from technobit, this was due to the restrictive case. Running out of the case, the other board still works.

When it became obvious that I had been had, I said, as in your cherry picked quote, that they had done well by me. The rest of it, which you did not quote, was a long rant on customer service and call for them to step up their game. I've also worked with several of the litigants to give them what little information I have. I got suckered on that one. It  happens, I'm hardly a god.

I won't be doing that here, because pbmining has not failed to deliver what they promised. I think they are legit. If you don't, well, that's fine. I've not been deceptive. If you've actually followed this thread, not just the most recent posts, you know I've debated the merits both way and been fairly neutral. I have made some money off of it, and I've clearly stated that as well.

[miner454]

Any one got ROI from this PBMining hashing shares?
Else how much is your ROI % now from start?

Hi There,

Create an account and you will see everyone's current btc mined for the week. 

You will be able to go to the Global Stats page and see everyone's earnings:

User/Hash/BTC Current Week/BTC Total Paid

Example: User xxxx    22100  0.91036303     1.11352469

I am not affiliated with pbmining.  I am a customer.

[BitcoinExchangeIndia.com]

Let me google something for you

http://bit.ly/1uHxnYR

lmgtfy offers its own shortener. Why using bitly ?

[galdur]

Let me google something for you

http://bit.ly/1uHxnYR

lmgtfy offers its own shortener. Why using bitly ?

Honestly, I have no idea or can recall why.

[pbleak]

Just to note I've found PB quite fine. Nice and steady. Would not invest too much as they need to be more transparent, but not a bad spot as far as cloudmining goes.

[raskul]

http://www.coindesk.com/chinese-bitcoin-mining-firms-transparency-push/

And to think, pbmining could have cornered the cloud mining market by doing just that ^

[MrPiggles]

http://www.coindesk.com/chinese-bitcoin-mining-firms-transparency-push/

And to think, pbmining could have cornered the cloud mining market by doing just that ^

They would have had a much much larger income had they been transparent, but they're deliberately not transparent since transparency would demonstrate they are a ponzi.

I wonder which would make more money, a cloud mining scheme 10x larger than PBmining, or a ponzi where they're just stealing all the money (except for the percentage they pay back)

[Puppet]

I wonder which would make more money, a cloud mining scheme 10x larger than PBmining, or a ponzi where they're just stealing all the money (except for the percentage they pay back)

Depends. An "honest ponzi", if there is such thing, in the sense that they would keep paying virtual mining revenue and not change the fees is likely not going to be very profitable, and possibly even a big loss for the operator. But if you play by the ponzi 101 rules and stop paying out once you receive less revenue from new sign ups than you have to pay out in fake revenue, clearly then it would be hugely profitable.

[galdur]

Well, I doubt that you trolls/obsessive cases will have more
staying power here than your predecessors over the last
year or so 

[raskul]

Well, I doubt that you trolls/obsessive cases will have more
staying power here than your predecessors over the last
year or so 

putting money into a ponzi does not require staying power.
personally, I mine on a small DGM pool which can go many many weeks without finding a block. I'm content with that. THAT, is staying power - something you would have no clue about

http://www.mmpool.org

you wouldn't last a single round mate.

[Bink]

AMT screwed the pooch. I didn't endorse them

You gave them a glowing review of a freebee POS miner that didnt even come close to meeting its published specs (and broke down 2 months later IIRC?) All the while paying customers received diddly squat and no one with a brain would believe the specs and timelines they published. But they were the real deal according to biomech.

They've treated me well

As did AMT. I quote "They've done well by me".

and I have yet to hear of any of their customers not being paid.

Which applies to any ponzi, right until when it collapses.

It's been long enough that I doubt very much  that it would have been sustainable as a ponzi.

You cant be that naive.  Have you even tried doing the math?

My thought from day one is that they are seling half of the hash they purchase, and using that to sustain profitability.

Or maybe you are  

I have no direct proof one way or the other.

So how is that good enough ? Would you endorse or preorder hardware from a company that offers no direct proof of anything ?  Indeed you have ZERO proof of their identity. You have ZERO proof they are even mining at all. No pictures. No asic vendor endorsement. No mining address. Your payouts dont come from mining, they come from coin mixers. This has all the credibility of the Nigerian prince that emailed you yesterday. Why dont you put that in your sig? Let me guess, they dont offer referral rewards?

Fuck off, Troll.

[Biomech]

AMT screwed the pooch. I didn't endorse them

You gave them a glowing review of a freebee POS miner that didnt even come close to meeting its published specs (and broke down 2 months later IIRC?) All the while paying customers received diddly squat and no one with a brain would believe the specs and timelines they published. But they were the real deal according to biomech.

They've treated me well

As did AMT. I quote "They've done well by me".

and I have yet to hear of any of their customers not being paid.

Which applies to any ponzi, right until when it collapses.

It's been long enough that I doubt very much  that it would have been sustainable as a ponzi.

You cant be that naive.  Have you even tried doing the math?

My thought from day one is that they are seling half of the hash they purchase, and using that to sustain profitability.

Or maybe you are  

I have no direct proof one way or the other.

So how is that good enough ? Would you endorse or preorder hardware from a company that offers no direct proof of anything ?  Indeed you have ZERO proof of their identity. You have ZERO proof they are even mining at all. No pictures. No asic vendor endorsement. No mining address. Your payouts dont come from mining, they come from coin mixers. This has all the credibility of the Nigerian prince that emailed you yesterday. Why dont you put that in your sig? Let me guess, they dont offer referral rewards?

Fuck off, Troll.

Fair's fair, even if he did attack me. Puppet is not a troll. I think he's mistaken here, but he's always been pretty thoughtful and asked questions that needed asking. That we disagree this time is not a character judgment, it's a disagreement.

[Puppet]

Oh, hell.
I shouldn't take the bait, but what the hell. I did indeed contact pbmining directly early on. I was asked to not reveal their identities beyond what was publicly known. But they did give me their names, which seemed to check out. I have said this as well, much earlier in the thread. It keeps coming around, and the fact that they are still able to pay out after this much time makes me think the ponzi cries are false. I could be wrong. But I don't think I am. I have them in my sig, and unless someone can prove they are not paying out, it will continue.

Not sure if you realize, you sound 100% identical to all pirate ponzi pushers and  "pass-through" operators 2 years ago.
"He's always paid out", "its been running for such a long time",  "you cant prove its a ponzi", "I will change my signature when he stops paying out",
yada yada yada. And most of them knew full well it was a ponzi.

There are some more similarities. Pirate paid  1% per day. These mining ponzi's currently pay out roughly 0.00001248/0.0015 BT =  0.8% per day. But, that percentage goes down with every difficulty increase. And there is a much bigger difference: investments in pirate where redeemable, whereas with these mining ponzi's they are not. You cant get your money out. Thats why can operate for so much longer: there is no risk of a bank run.  In theory its even possible they run forever; if it turns out mining is not profitable at those rates, then these ponzi's have to pay less in fictitious mining revenue  than they collected from sales. So they could make a (relatively modest) profit while maintaining the illusion of being honest. Of course, investors would still lose, as they always do with a ponzi.

OTOH, if difficulty slows down enough that in theory, mining at pb's rates would yield a profit, then what ? If no one ordered anything from today on, it would still take on the order of a year for pbmining to owe its victims more than it collected. But that is not the interesting part. These ponzi's will vanish much sooner than that, because their maximum profit occurs once they collect less new investments through their army of referral whores than they have to pay out in mining revenues. So how close are we to that ?

By June 25th they claimed to have sold 833 Th/s.
By  october that had risen to 2.5 PH
Today its 4.2 PH

It doesnt take a rocket scientist to figure out that they are selling far faster than they are paying out. And that of course, is why they still pay out. Not just because they can, but because it still makes sense to maximize their loot. Using that as "proof" for saying this isnt a ponzi, is either utterly ignorant, or more likely, intellectually dishonest.

Since I have a hard time believing you dont think its bizarre they sold more hashrate than asicminer, yet have not shown a single datacenter picture, a single asic vendor endorsement, a single signed block, a single payout that can be traced back to a mining pool instead of a coinmixer,.. Im going by the latter. Im preaching to the choir, you, like most referral whores and previous PPT operators, know its a scam, you're just trying to cash in on it. Shame on you.

[Biomech]

Puppet, you've made your case. I do not believe you correct, but you've cast sufficient doubt that I'll remove the link.

pbmining, I will restore it if you do reveal your operation sufficiently for someone like him to deem it legit.

[raskul]

Puppet, you've made your case. I do not believe you correct, but you've cast sufficient doubt that I'll remove the link.

pbmining, I will restore it if you do reveal your operation sufficiently for someone like him to deem it legit.

Digital Mining Corp ir whatever they called themselves...?
Based in Canada but won't sell their 'cloud mining' to locals? If buying it isn't allowed in that locallity then you bet your bottom dollar neither is selling it.

I'll give 'em 3 months before my pals at the big hoose catch up with 'em.

Because i have nothing to research atm

[Syke]

Puppet, you've made your case. I do not believe you correct, but you've cast sufficient doubt that I'll remove the link.

pbmining, I will restore it if you do reveal your operation sufficiently for someone like him to deem it legit.

What is he wrong about? Rather than prove they are legitimate, which costs them nothing, they spend on advertising, referrals, promotions, etc. It's so obviously a Ponzi!