PB Mining -- 5 year mining contracts!

[raskul]

Love the duck test but does it really apply here? It would work if you could prove they don't own any hardware but you can't.

it's not up to the customer to prove that they *don't have* it's up to the vendor to prove that they do.

[galdur]

The vendor had customers willing to invest despite the anonymity and still has so why would he?

38K customers isn´t too shabby.

In their global stats I notice two rather big ones
new this week 37500 and 30000 GHS respectively.

[SpanishSoldier]

The vendor had customers willing to invest despite the anonymity and still has so why would he?

38K customers isn´t too shabby.

In their global stats I notice two rather big ones
new this week 37500 and 30000 GHS respectively.

If u notice carefully, u'll see that no one is actually bothered except for the members associated with the notorious Chinese cartel, that is forming up. ZeusMiner, Rockminer, XBTec and AsicMiner led by HaveLock Investment are actually planning a giant scam. By showing a few mining rig and buying some large hashpower for short time to prove the mining address, this cartel is trying to gain trust. At the same time, they are doing negative publicity about PB mining, cloudmining.website, cloudminr.io et all. They were also against Hashie, but now as Hashie is now reselling AM Hash, they are a bit calm about them. Whenever you are making your purchase decision, you should be careful, not to get deceived by this cartel.

Read more about the deal here : https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

[jimmothy]

Love the duck test but does it really apply here? It would work if you could prove they don't own any hardware but you can't.

It doesn't work that way. You cannot prove something doesn't exist.

Here's a nice quote: "A baker never fails to put finished pies on her windowsill, so if there is no pie on the windowsill, then no finished pies exist."

Let's imagine you go to a restaurant, eat a strange named dish and it tastes great, you go home and feel all right, so the dish was not only tasty but also nutritious. You come back to the restaurant and ask how was it made, and the chef refuses to tell or even show you the kitchen. Does it mean he's scamming the customers?

I like your analogy but you're looking at it completely wrong.

In the US there are several legal requirements for opening a restaurant some of which includes:

a: register their company
b: acquire licenses and permits
c: meet and maintain health/safety codes.

Similarly, any company planning to offer an IPO in the US is required to fill out an S-1 form.

In general, securities sold in the U.S. must be registered. The registration forms companies file provide essential facts while minimizing the burden and expense of complying with the law. In general, registration forms call for:

• a description of the company's properties and business;
• a description of the security to be offered for sale;
• information about the management of the company; and
• financial statements certified by independent accountants.

http://www.sec.gov/about/laws.shtml#secact1933

These requirements/guidelines were not created by the SEC just for fun. They were created specifically for your protection as an investor because without them, ponzi schemes/scams run rampant.

Independent auditing is absolutely required to do proper due diligence but it appears the concept is completely unheard of among bitcoins get-rich-quick "investors".

An easy/verifiable way to independently audit the company is by using the fantastic invention called the blockchain.

[jimmothy]

The vendor had customers willing to invest despite the anonymity and still has so why would he?

Several customers have already admitted that they will not invest any more money because the company looks so much like a ponzi.

So to answer your question as to why he would prove they are not a ponzi, it's simply because they would get loads of money by doing so. Because their pricing is so much better than any other cloudmining company, I am positive that they would have had 10-20 PH/s by now if they had proven they weren't a ponzi.

The question you have to ask yourself is why would pbmining refuse investor/VC funding and instead limit their customer base to naive/gullible gamblers? (because that's what they are doing by mimicking a ponzi)

Does pbmining hate money?

[galdur]

The vendor had customers willing to invest despite the anonymity and still has so why would he?

38K customers isn´t too shabby.

In their global stats I notice two rather big ones
new this week 37500 and 30000 GHS respectively.

If u notice carefully, u'll see that no one is actually bothered except for the members associated with the notorious Chinese cartel, that is forming up. ZeusMiner, Rockminer, XBTec and AsicMiner led by HaveLock Investment are actually planning a giant scam. By showing a few mining rig and buying some large hashpower for short time to prove the mining address, this cartel is trying to gain trust. At the same time, they are doing negative publicity about PB mining, cloudmining.website, cloudminr.io et all. They were also against Hashie, but now as Hashie is now reselling AM Hash, they are a bit calm about them. Whenever you are making your purchase decision, you should be careful, not to get deceived by this cartel.

Read more about the deal here : https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

Yep, there´s clearly desperation somewhere.
Maybe some big bankruptcy is imminent.

[jimmothy]

If u notice carefully, u'll see that no one is actually bothered except for the members associated with the notorious Chinese cartel, that is forming up. ZeusMiner, Rockminer, XBTec and AsicMiner led by HaveLock Investment are actually planning a giant scam. By showing a few mining rig and buying some large hashpower for short time to prove the mining address, this cartel is trying to gain trust. At the same time, they are doing negative publicity about PB mining, cloudmining.website, cloudminr.io et all. They were also against Hashie, but now as Hashie is now reselling AM Hash, they are a bit calm about them. Whenever you are making your purchase decision, you should be careful, not to get deceived by this cartel.

Read more about the deal here : https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

Yep, there´s clearly desperation somewhere.
Maybe some big bankruptcy is imminent.

You two seriously need to educate yourselves. I mean that sincerely.

[galdur]

The lady doth protest too much, methinks 

[Biomech]

Truth is, I would not have pulled my sig if it were not Puppet making the allegations. He's often brutal, but I've never known him to be malicious. I will not purchase more nor promote pbmining further until there is some level of proof of their mining, or if they're doing something else legit to simulate mining, proof of that.

I'm arrogant, Puppet, but I'm willing to listen to reason from some people. You're one of them.

[Anyayakubu]

Truth is, I would not have pulled my sig if it were not Puppet making the allegations. He's often brutal, but I've never known him to be malicious. I will not purchase more nor promote pbmining further until there is some level of proof of their mining, or if they're doing something else legit to simulate mining, proof of that.

I'm arrogant, Puppet, but I'm willing to listen to reason from some people. You're one of them.

It takes a big man to admit that biomech, I'm going to do the same as you. He did make some good points to consider.

[adipurnama]

very good the first week but after the first month payment is down dramatically PBmining
of 0025 BTC BTC 0018 now so
why the PBmining yeeaahhBTC

[jimmothy]

This is clear, but why would you categorize cloud mining as securities?

Well the Securities Act of 1933 defines a security as a "Certificate of interest or participation in any profit-sharing agreement"

I don't see how anyone could argue that cloudmining is not a profit sharing agreement.

Maybe that's why they prefer to remain anonymous, to exploit the possibility of staying under the radar. They are probably earning more then they are reporting, just like most miners nowadays and I don't blame them. I'm ok with them exploiting any hole in the fiscal law, as long as it brings me profit, but I understand if people prefer to do it by the book.

That I can completely understand. I think every existing cloudmining company is illegally selling unregistered securities so it would be a bad idea to not be anonymous.

My main point bringing up the SEC requirements is the importance of independent auditing. Names/business info can all be faked (as it's happened before) so it's not that important, but you cannot fake proof of mining via the blockchain. Any company that does it's best to prevent due diligence is not worth investing in.

[chicken65]

I have now covered my initial investment so no complaints here. Took a long time - about 6 months I think.
I honestly couldnt care less if PB mining had an old 486 to mine with  ...fact is their paying people - no one hasn't been paid
as far I know. In a land scam coins this is still one of the best investments providing you have the patience. 

[galdur]

Maybe AMHASH is going belly up.

The most desperate cases here seem to be connected to that.

And it´s parked there at the Havelock graveyard.

[5ick3uffalo]

Payday

[miner454]

Payday

You know it!  Take that ponzi.  If it acts like a duct and pays like a duck....

[galdur]

Paid like clockwork as usual.

[Puppet]

Truth is, I would not have pulled my sig if it were not Puppet making the allegations. He's often brutal, but I've never known him to be malicious. I will not purchase more nor promote pbmining further until there is some level of proof of their mining, or if they're doing something else legit to simulate mining, proof of that.

I'm arrogant, Puppet, but I'm willing to listen to reason from some people. You're one of them.

Sounds like you want a cookie? Sorry, no can do.

You invested quite early in this, between ponzi payouts and ref links, you probably already made a nice profit for yourself, at the expense of more recent investors who believed you. That you now no longer participate in this scam doesnt make you a hero.

If you want a cookie, then do two things: First put a warning in your signature. Id suggest:
https://www.cryptocoinsnews.com/gavin-andresen-suspects-ponzi-schemes-bitcoin-cloud-mining/
or
https://bitcointalk.org/index.php?topic=860400.0

Secondly, pledge to returning at least your net profit to victims benefit (legal fund, private eyes, whatever) if/when this ponzi collapses.  Then you'll get a cookie from me.  Same goes for anyone else of course. I got plenty of cookies

[dimiro]

Payment Received

[raskul]

Payment Received

great! show us the coinbase tx related to the mined block, from where your payment came?