PB Mining -- 5 year mining contracts!

[Mabsark]

Little girl, you need to pay more attention in your English class. Puppet is offering you the bet you claim to want and you keep refusing the bet.

[jimmothy]

Jimmothy, Let all of us take a couple deap breaths, feels great try it,  Now focus with me. Understand if you use this phrase theoretical yield ever again , Nice people should shun you even in broad daylight. Possibly your virtual mouth should be washed out with soap.  Let us pray together now, that this term, theoretical yield should never be used,
ever again where there might be decent folK and even children around.
          Maybe your a late comer or a slow learner Jimothy , but puppet who you think his deal is so great,  Rejected a perfectly simple straight forward deal. 
The reason why we having this conversation now is not because we have a problem of theoretical yield, It because Puppet for weeks and months has been saying PB a ponizi ,it going to fold , some long time members even took the PB signature out of their profile because of this. He has made repeated statements of PB will end.  Even how we should have a victim restitution fun for the poor looser in the end of this ponzi
 This isn't about difficulty or yield, Pb charges no fees,  However Puppet been saying  that PB going to end. check for your self even today he post that Pb only going to be around weeks more and might even to be able to work out six month bet. Because Pb not going to be around long. I've challenged that.  I stick by it,

Theoretical yield/calculated yield is exactly what you get paid each week. Puppet's bet was just saying pbmining will continue doing what they've been doing for another year, in a way that allows no loopholes unlike your bet.

[Anyayakubu]

What loopholes, explain yourself, i see no loop holes , its either paying or its not paying

[MrTeal]

What loopholes, explain yourself, i see no loop holes , its either paying or its not paying

If tomorrow pbmining announced that due to market conditions they would now require a $0.0024/GH/s fee (1J/GH, $0.10/kWh all in) to cover hosting and electricity costs per day but otherwise continued to pay out, would you consider that pbmining failing?

[Anyayakubu]

That's Pbmining.com They don't have any fees

[raskul]

That's Pbmining.com They don't have any fees hardware

^FTFY

[Mabsark]

That's Pbmining.com They don't have any fees

Then how would they make any profit? Do you think they're buying hardware from manufacturers and selling it to you at cost? Do you think they have free data centres and get free electricity?

Stop being so naive.

[miner454]

That's Pbmining.com They don't have any fees

Then how would they make any profit? Do you think they're buying hardware from manufacturers and selling it to you at cost? Do you think they have free data centres and get free electricity?

Stop being so naive.

They have acres and acres of solar power array.

[Puppet]

Are you just going by the stats on the website? He doesn't seem to be updating them anymore, but it does appear that he's still bringing in ~70BTC/day.
https://blockchain.info/charts/balance?address=1PiggyKTPYdtjPaHPTkJUnR314vz2v1wfs
It's hard to say how much is new money and how much would be brought in through the mixer, but there's still some funneling in.

I never realized he lets everyone pay to the same address. Wow, what idiocy.  

I cant explain whats gong on at that address, I was actually basing myself on the stats page, adding up all the hashrate listed there. I did make a mistake though. Between the 24th and today there is a difference of 147TH, good for 205 BTC if you assume no one got referrals. Thats ~40BTC per day vs 54 BTC in obligations. Admittedly, just a very short snapshot and I could imagine the day after divs be a better day than average due to reinvestments. Ill know more in a week or so.

[Puppet]

As for the bet; it stands for anyone willing to take it as I wrote it. I dont have the patience to teach someone english, logic and bitcoin history for 0.5 BTC, so Anyayakubu let me know once you figured it all out.

[raskul]

Are you just going by the stats on the website? He doesn't seem to be updating them anymore, but it does appear that he's still bringing in ~70BTC/day.
https://blockchain.info/charts/balance?address=1PiggyKTPYdtjPaHPTkJUnR314vz2v1wfs
It's hard to say how much is new money and how much would be brought in through the mixer, but there's still some funneling in.

I never realized he lets everyone pay to the same address. Wow, what idiocy.  

I cant explain whats gong on at that address, I was actually basing myself on the stats page, adding up all the hashrate listed there. I did make a mistake though. Between the 24th and today there is a difference of 147TH, good for 205 BTC if you assume no one got referrals. Thats ~40BTC per day vs 54 BTC in obligations. Admittedly, just a very short snapshot and I could imagine the day after divs be a better day than average due to reinvestments. Ill know more in a week or so.

a ponzi only needs one pocket; in.

they have a bot which recognises payments by adding <victim customer number> as satoshi at the end of the fee they charge. for example; if the victim is customer number 666 and buys 1GH/s - the fee they pay is 0.00140666 - the pbmining bot finds the transaction and allocates the ponzi calculation of that number of imaginary GH/s it to the victim's place in the pyramid.

that is why, when a victim pays the wrong amount, it confuses the bot and forces one of the real people who run the ponzi to go look for it.

BUT, because that real person is raking in the cash from other victims, one solitary payment isn't really worth going looking for, and so the victim never gets that imaginary GH/s or his/her place in the pyramid.

it's genius actually, it's a ponzi which is completely automated.

pbmining doesn't need anything other than the laptop with his wallet on it to run this and is probably sunning himself on some beach in Waikiki while we debate when it's all going to come crashing down.

soon™

[galdur]

So, you obsessive-compulsive nutbags are reduced to whining on each other/your sockpuppets.

[raskul]

So, you obsessive-compulsive nutbags are reduced to whining on each other/your sockpuppets.

not at all, i was explaining how this automated ponzi works.

[Samix]

I just ended With pBmining sold my 244 ghs account i think that mining worth nothing in future !

[Mabsark]

They have acres and acres of solar power array.

Have they? Have you seen them? Do you have any proof of their existence or is this like the miners they "have"? Let's just say they have got acres and acres of solar power, do you think they got them for free and are willing to give away the electricity for free? Do you think they're running a charity or a non-profit organisation?

[squall1066]

They have acres and acres of solar power array.

Have they? Have you seen them? Do you have any proof of their existence or is this like the miners they "have"? Let's just say they have got acres and acres of solar power, do you think they got them for free and are willing to give away the electricity for free? Do you think they're running a charity or a non-profit organisation?

more to the point, has anyone seen anything with the naked eye? I have a PB account and nearly ROI'd so I am not afraid to say there is alot of speculation and accusations running around, Do they have a business address? I believe it's supposed to be in Canada?
I have no problems going to Canada with a camera to solve this one.

[Puppet]

I have a PB account and nearly ROI'd so I am not afraid to say there is alot of speculation and accusations running around,

Wow. Nice way to destroy your own trustworthiness. Essentially you are saying if you had not been close to ROI, you would be afraid to call a scam if you thought it was scam. That makes you complicit in my book.

Do they have a business address? I believe it's supposed to be in Canada?
I have no problems going to Canada with a camera to solve this one.

How about next time asking these questions before investing and especially before promoting it? Remind me never to use you as escrow.

[Puppet]

it's genius actually, it's a ponzi which is completely automated.

I call it stupid, its not like its difficult to automate a normal purchase procedure and generate addresses on the fly. It just shows the operator doesnt have a clue.

And here is another reason its potentially stupid (for a ponzi), you can do all sorts of analysis. Just the fact that funds in the sales address accumulate each week by itself says all you need to know: they are not being converted to fiat, or used to purchase hardware or cover running costs. The account gets emptied and run through a mixer only when divs are due. How much more transparent could he make it?

BTW, even though the funds are being thoroughly mixed, its still clear they do not originate from any recent mining activity and payout and sales addresses are clearly linked



https://blockchain.info/taint/1PiggyKTPYdtjPaHPTkJUnR314vz2v1wfs

I honestly cant see how you could make a ponzi operation more obvious. Perhaps calling it "Ponzi Bullshit mining" ?

[raskul]

i was being sarcastic with the 'genius' remark.
half expected some fanboi or other to chime in with how messiah-like pbmining really is for being so clever.

 

[Hanslo]

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