PB Mining -- 5 year mining contracts!

[MrTeal]

Maybe their mining operations are located in a place up
far north that has a cold climate and truly excellent
electricity rates and where the dollar buys A LOT. 

Yeah, that's not how it works. The further north you go, the less a dollar buys. Once you get past the southern strip of the country costs for everything skyrocket. It would be unwise to build a large farm in a place in the far north when the climate isn't that much different.

....not just consider what fits your

preconceived outcome.

No, I live in Saskatchewan and deal quite often with Northern projects. Saskatoon is the largest city, and while hardly cheap due to labour shortages construction prices are fairly reasonable. The average daily mean temperature is 2.6C. If you go up to La Ronge (the northernmost reasonably sized town pop 2500) your average yearly temperature drops to -0.1C, but construction costs rise dramatically. If you really want to head to the cold north, you can do so somewhere like Stony Rapids (pop 243) or Fond-du-Lac (pop 226) where the daily mean is ~-5C, but now you're transporting materials in over ice roads or air and labour costs are 3x to 5x what you'd pay in the southern part of the province. Communications infrastructure is similarly much more limited.

There is no economic sense to trying to have a project in northern Saskatchewan unless you absolutely need to access something geographically fixed, like a mineral deposit.

[galdur]

Maybe their mining operations are located in a place up
far north that has a cold climate and truly excellent
electricity rates and where the dollar buys A LOT. 

Yeah, that's not how it works. The further north you go, the less a dollar buys. Once you get past the southern strip of the country costs for everything skyrocket. It would be unwise to build a large farm in a place in the far north when the climate isn't that much different.

....not just consider what fits your

preconceived outcome.

No, I live in Saskatchewan and deal quite often with Northern projects. Saskatoon is the largest city, and while hardly cheap due to labour shortages construction prices are fairly reasonable. The average daily mean temperature is 2.6C. If you go up to La Ronge (the northernmost reasonably sized town pop 2500) your average yearly temperature drops to -0.1C, but construction costs rise dramatically. If you really want to head to the cold north, you can do so somewhere like Stony Rapids (pop 243) or Fond-du-Lac (pop 226) where the daily mean is ~-5C, but now you're transporting materials in over ice roads or air and labour costs are 3x to 5x what you'd pay in the southern part of the province. Communications infrastructure is similarly much more limited.

There is no economic sense to trying to have a project in northern Saskatchewan unless you absolutely need to access something geographically fixed, like a mineral deposit.

Maybe it´s not Canada that I have in mind.

Just because some clueless wankers (that freely admit that they don´t have a clue)
tell you something doesn´t necessarily mean it is so as a fact.

[Mabsark]

Just because some clueless wankers (that freely admit that they don´t have a clue)
tell you something doesn´t necessarily mean it is so as a fact.

Exactly! The thing you don't seem to grasp though is that you are the clueless wanker.

[galdur]

Just because some clueless wankers (that freely admit that they don´t have a clue)
tell you something doesn´t necessarily mean it is so as a fact.

Exactly! The thing you don't seem to grasp though is that you are the clueless wanker.

If you say so.

Absolutely no problem with me.

I don´t have to prove anything here.

[MrTeal]

Maybe their mining operations are located in a place up
far north that has a cold climate and truly excellent
electricity rates and where the dollar buys A LOT. 

Yeah, that's not how it works. The further north you go, the less a dollar buys. Once you get past the southern strip of the country costs for everything skyrocket. It would be unwise to build a large farm in a place in the far north when the climate isn't that much different.

....not just consider what fits your

preconceived outcome.

No, I live in Saskatchewan and deal quite often with Northern projects. Saskatoon is the largest city, and while hardly cheap due to labour shortages construction prices are fairly reasonable. The average daily mean temperature is 2.6C. If you go up to La Ronge (the northernmost reasonably sized town pop 2500) your average yearly temperature drops to -0.1C, but construction costs rise dramatically. If you really want to head to the cold north, you can do so somewhere like Stony Rapids (pop 243) or Fond-du-Lac (pop 226) where the daily mean is ~-5C, but now you're transporting materials in over ice roads or air and labour costs are 3x to 5x what you'd pay in the southern part of the province. Communications infrastructure is similarly much more limited.

There is no economic sense to trying to have a project in northern Saskatchewan unless you absolutely need to access something geographically fixed, like a mineral deposit.

Maybe it´s not Canada that I have in mind.

Just because some clueless wankers (that freely admit that they don´t have a clue)
tell you something doesn´t necessarily mean it is so as a fact.

Which is fine, there are many cold places in the world with better access than Northern Saskatchewan. The person you were replying to was specifically talking about the location being in Saskatchewan, close to the Manitoba border.

It's all a bit moot since there isn't actually a PB Mining mine of any size in any case, but I'm sure you're more than aware of that.

[galdur]

MrTeal, just for clarity and better understanding of  where you´re coming from.

Are you familiar with the judicial concept

innocent until proven guilty ?

[MrTeal]

MrTeal, just for clarity and better understanding of  where you´re coming from.

Are you familiar with the judicial concept

innocent until proven guilty ?

I am, although I am not quite sure how that applies here. Are you suggesting that criminals should not be stopped from robbing victims until it's proven in a court of law?

[galdur]

I rest my case.

[ATCkit]

Maybe their mining operations are located in a place up
far north that has a cold climate and truly excellent
electricity rates and where the dollar buys A LOT. 

Yeah, that's not how it works. The further north you go, the less a dollar buys. Once you get past the southern strip of the country costs for everything skyrocket. It would be unwise to build a large farm in a place in the far north when the climate isn't that much different.

....not just consider what fits your

preconceived outcome.

No, I live in Saskatchewan and deal quite often with Northern projects. Saskatoon is the largest city, and while hardly cheap due to labour shortages construction prices are fairly reasonable. The average daily mean temperature is 2.6C. If you go up to La Ronge (the northernmost reasonably sized town pop 2500) your average yearly temperature drops to -0.1C, but construction costs rise dramatically. If you really want to head to the cold north, you can do so somewhere like Stony Rapids (pop 243) or Fond-du-Lac (pop 226) where the daily mean is ~-5C, but now you're transporting materials in over ice roads or air and labour costs are 3x to 5x what you'd pay in the southern part of the province. Communications infrastructure is similarly much more limited.

There is no economic sense to trying to have a project in northern Saskatchewan unless you absolutely need to access something geographically fixed, like a mineral deposit.

Maybe it´s not Canada that I have in mind.

Just because some clueless wankers (that freely admit that they don´t have a clue)
tell you something doesn´t necessarily mean it is so as a fact.

Which is fine, there are many cold places in the world with better access than Northern Saskatchewan. The person you were replying to was specifically talking about the location being in Saskatchewan, close to the Manitoba border.

It's all a bit moot since there isn't actually a PB Mining mine of any size in any case, but I'm sure you're more than aware of that.

Yup I meant somewhere due east of Saskatoon or North Battleford. They could have their office in Saskatchewan and hop over the border to a facility in Manitoba where Hydro is cheaper and they do their mining...say somewhere off hwy 77.

Anyhoo, anywhere in that locale is likely much cooler than most of the world....even in the summer. I think even Ottawa would be much hotter.

Speaking off Ottawa, if i lived in canada, that would be a decent place to reside. I could slip up the Quebec side of the Valley and rent a barn from  a retiring relative. He's a dairy farmer with tons of heavy electrical equipment that eats way more power than 100s of miners. I could throw in a bunch of Antminers and do my own thing. I may have to sweep out some cob webs etc tho- lol.

[galdur]

Hey ATCkit, still haven´t got your signature hyperlinked ?

[galdur]

I rested my case but if I might add

I´m a simple man with simple thoughts

but I believe in certain well worn principles.

Bending them can result in bad things.

Micro, like regarding this co. is of little

consequence but Macro the results can be

truly horrific

[Anyayakubu]

Wow, came home and 5 more pages of this same to read today. I never thought this whole topic could have this much wind in it's sails to go on for weeks like this.
Maybe I should write a poem?  Ok let me give it a try.

PB mining up north so far, where the weather is cold,
the days are long.
      Can I ask you a question, tell me if I'm wrong.
Your mining is in secret, never to be shown?
    We would like to know you and learn how you mine.
Some are saying your a ponzi, others claim it's a scam.
I'm a bitcoin girl with my money on the line.
   Can I trust you to come though for me,
When it's the right time?
The coins I will loose really don't matter. although would be nice if my wallet was fatter.
I'm having my say although I wasn't appointed.  How nice it would be
if we didn't have a lot of people disappointed.

[galdur]

The reason why women are so intelligent

is why the very survival of the species

depends on it.

[TradeSmart]

Why do people still try to find some info about their mining equipment and more? It is obvious Charles P scheme, but who cares, they are still paying and doing a good job. After closing a lot will be lost, so invest only what you can afford to loose.

Peace.

[Syke]

Ive only recently been logging their stats

Have you tracked their payout addresses? I think 1Payday1sm5wGqtatKscfXnxARZ2B2MF3z is one of them. I'd like to know how many contracts they are actually paying out on. 38,000 transactions would be half of all transactions on Sunday, so I have a hard time believing that stat.

[Puppet]

Ive only recently been logging their stats

Have you tracked their payout addresses? I think 1Payday1sm5wGqtatKscfXnxARZ2B2MF3z is one of them. I'd like to know how many contracts they are actually paying out on. 38,000 transactions would be half of all transactions on Sunday, so I have a hard time believing that stat.

No, havent looked in to that yet. But if you look at their stats page, they have  ~6700 customers, not 38K. And you can pay thousands of those in one transaction.
If your listed payout address is correct, then they are paying ~225 BTC /week through that. Theoretical payout for 4.4PH is >380. Perhaps they use other addresses, perhaps customers have been reinvesting their divs..?

[Sonny]

Ive only recently been logging their stats

Have you tracked their payout addresses? I think 1Payday1sm5wGqtatKscfXnxARZ2B2MF3z is one of them. I'd like to know how many contracts they are actually paying out on. 38,000 transactions would be half of all transactions on Sunday, so I have a hard time believing that stat.

No, havent looked in to that yet. But if you look at their stats page, they have  ~6700 customers, not 38K. And you can pay thousands of those in one transaction.
If your listed payout address is correct, then they are paying ~225 BTC /week through that. Theoretical payout for 4.4PH is >380. Perhaps they use other addresses, perhaps customers have been reinvesting their divs..?

Yup that 1Payday address is PB mining's payout address as reported by their customers consistently.
Mar 2014: https://bitcointalk.org/index.php?topic=484355.msg5617470#msg5617470
May 2014: https://bitcointalk.org/index.php?topic=418183.msg6674107#msg6674107
Aug 2014: https://bitcointalk.org/index.php?topic=418183.msg8607692#msg8607692

[Puppet]

Yup that 1Payday address is PB mining's payout address as reported by their customers consistently.
Mar 2014: https://bitcointalk.org/index.php?topic=484355.msg5617470#msg5617470
May 2014: https://bitcointalk.org/index.php?topic=418183.msg6674107#msg6674107
Aug 2014: https://bitcointalk.org/index.php?topic=418183.msg8607692#msg8607692

Im a bit puzzled. When you check blockchain.info  for that address, the last transaction occurred on the 17th (last apparent payout on the 16th):
https://blockchain.info/address/1Payday1sm5wGqtatKscfXnxARZ2B2MF3z

But when I check some of the customer addresses posted in your links, I can find transactions such as this:

https://blockchain.info/tx/4e21d59f789db80d242f841aa20d4278b9e737438c7d815b3410fbd567c96af8

Which occurred on the 23rd and originates from that same 1Payday address.

I figured it might be a problem with blockchain, but blockr.io shows the exact same problem/bug/whatever. I tried blockexplorer, but it crashes on that address.

Im not reading anything nefarious in to this, just curious.

[Sonny]

Yup that 1Payday address is PB mining's payout address as reported by their customers consistently.
Mar 2014: https://bitcointalk.org/index.php?topic=484355.msg5617470#msg5617470
May 2014: https://bitcointalk.org/index.php?topic=418183.msg6674107#msg6674107
Aug 2014: https://bitcointalk.org/index.php?topic=418183.msg8607692#msg8607692

Im a bit puzzled. When you check blockchain.info  for that address, the last transaction occurred on the 17th (last apparent payout on the 16th):
https://blockchain.info/address/1Payday1sm5wGqtatKscfXnxARZ2B2MF3z

But when I check some of the customer addresses posted in your links, I can find transactions such as this:

https://blockchain.info/tx/4e21d59f789db80d242f841aa20d4278b9e737438c7d815b3410fbd567c96af8

Which occurred on the 23rd and originates from that same 1Payday address.

I figured it might be a problem with blockchain, but blockr.io shows the exact same problem/bug/whatever. I tried blockexplorer, but it crashes on that address.

Im not reading anything nefarious in to this, just curious.

After checking the blockchain.info and blockr.io pages for 3 times, I finally realize the two 1Payday addresses are different.

One is 1Payday1sm5wGqtatKscfXnxARZ2B2MF3z and one is 1PaydayTAjsppNyoWBUbVmVT2gT9efCjWo.
It seems PB mining has stopped using the former address, and started using the latter one since Nov 23.

[Puppet]

ha! that would explain it, thank you