PB Mining -- 5 year mining contracts!

[tmfp]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

Why do you know that he is still pay out?

He pays every Sunday, does he not?
He paid last Sunday, a little late.
Therefore payment is up to date.
Even if he announced negative payments this Sunday i.e. a weekly loss, would that be illegal?
Outrageous maybe, but illegal?
 

[raskul]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

Why do you know that he is still pay out?

He pays every Sunday, does he not?
He paid last Sunday, a little late.
Therefore payment is up to date.
Even if he announced negative payments this Sunday i.e. a weekly loss, would that be illegal?
Outrageous maybe, but illegal?
 

yes. ponzi schemes are illegal. in this case, a ponzi scheme which purports to be something that it is not.
highly illegal

[picolo]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

They can increase the maintenance costs but need to provide bills to prove they have higher costs.
If they mine they should get mining revenue in accordance to what is to be expected with the current difficulty and the hash power they have minus the maintenance costs.

If they cannot provide any bills or pool payments, you would theorically have a case against them.

[raskul]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

They can increase the maintenance costs but need to provide bills to prove they have higher costs.
If they mine they should get mining revenue in accordance to what is to be expected with the current difficulty and the hash power they have minus the maintenance costs.

If they cannot provide any bills or pool payments, you would theorically have a case against them.

maintenance costs were built into the initial contract cost, so the payouts should be exactly in line with the network difficulty, no less.

[MrPiggles]

I told you all it was a scam, an obvious scam that only the greedy and stupid would fall for.

You all called me a troll and an idiot.

I told you in April that I knew PBMining was a scam and I knew who they were:

https://bitcointalk.org/index.php?topic=484355.msg6174490#msg6174490

Now who's the troll and the idiot?

 

You said you would doxx them, you didnt, other people did. Don't even come here now to seek attention.
If you would have cared about the people you would have came out with your information way before the others.

I said I would when they ripped people off, someone beat me to it.

Are you one of the gullible idiots who didn't listen

[cypher21]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

They can increase the maintenance costs but need to provide bills to prove they have higher costs.
If they mine they should get mining revenue in accordance to what is to be expected with the current difficulty and the hash power they have minus the maintenance costs.

If they cannot provide any bills or pool payments, you would theorically have a case against them.

maintenance costs were built into the initial contract cost, so the payouts should be exactly in line with the network difficulty, no less.

yes and a contract is a contract. so its highly illigal if he dont pay

[tmfp]

From a strictly legal point of view and bearing in mind their T&C, while PB continue to pay anything, no matter how small, is there actually a case to be made against them?
They haven't defaulted in any way, the site is still up and payments are being made. What do you say when you make a report to whatever authorities? "Well, it was paying out a lot, now not so much. I WANT HIM ARRESTED."
To be clear, I very much lean to the ponzi explanation, so please, no shill accusations.

They can increase the maintenance costs but need to provide bills to prove they have higher costs.
If they mine they should get mining revenue in accordance to what is to be expected with the current difficulty and the hash power they have minus the maintenance costs.

If they cannot provide any bills or pool payments, you would theorically have a case against them.

maintenance costs were built into the initial contract cost, so the payouts should be exactly in line with the network difficulty, no less.

Yeah, I understand that, but should?
I am not an 'investor' in this so I can't access their T&C, but somewhere in this thread I read an excerpt which basically said "We can do what we like and you have no redress".
I know that in contract law you cannot have clauses that are onerous or deprive the signee of their legal rights.
Could someone please share the T&C's here?

[MrTeal]

I'm compiling a bunch of information to further my report, and since I haven't been around from the start I'd like a little help. I have a bunch of addresses used by PBMining, but what I'd like to build is a list that is as complete as possible of all the PBmining input (1Bacon, 1Piggy, etc) and output (1Payday) addresses used by PBmining.

Does anyone have any partial lists they can contribute/

[pbleak]

OK, although interests in contracts are low surely some people may risk buying them. Is it possible for us to work together to set up a marketplace/escrow system ourselves? One that explicitly tells people they are buying highly discounted contracts for a site that is assumed to be a ponzi. I have had people interested who like to take a risk but it's hard to do it given that there is no site support anymore. So we'd need to be creative to exchange.

[david123]

yeah these are the junk bonds  of bitcoin land

[pbleak]

yeah these are the junk bonds  of bitcoin land

There are always people who like a discount and might bet that a cheap buy from us will ROI for them. But my word is it not easier to transfer them with no admin support.

[david123]

yeah i have no problem, I'm also selling my pbmining accounts  (have already found a customer, though).
I think there is no way to have the mail address changed now, so you should be ready to give away the
email credentials. Changing the payout address should be easy.

[pbleak]

yeah i have no problem, I'm also selling my pbmining accounts  (have already found a customer, though).
I think there is no way to have the mail address changed now, so you should be ready to give away the
email credentials. Changing the payout address should be easy.

Cool, can you PM me how you did it precisely?

[MrTeal]

That's not his real name

I know.
But it's the same one he's used in the past. And it does relate to his real name.

Edit. It relates to his real name the same way that Vince Neil's name does.

Out of curiosity, what did you think his real name was?

[guruton]

yeah i have no problem, I'm also selling my pbmining accounts  (have already found a customer, though).
I think there is no way to have the mail address changed now, so you should be ready to give away the
email credentials. Changing the payout address should be easy.

Cool, can you PM me how you did it precisely?

I`m interested to hear too

[david123]

how I did what? Change the payout address? I didn't do it, but there's a button to change this after you
logged in.

I didn't check if it works as it should, but as I only sell to people who know the status quo, the buyer bets on
pbmining continuing to pay and continuing customer service. So if the dashboard isn't working properly
this would be a problem of the buyer, especially as I clearly advise agains buying a pbmining account.
Don't you agree? As I think about it, I should include this specific information as part of the sales
negotiations: "There is an option for changing the payout  address, but notice that I didn't use it
up to now and I cannot guarantee that it works as designed."

[pbleak]

how I did what? Change the payout address? I didn't do it, but there's a button to change this after you
logged in.

I didn't check if it works as it should, but as I only sell to people who know the status quo, the buyer bets on
pbmining continuing to pay and continuing customer service. So if the dashboard isn't working properly
this would be a problem of the buyer, especially as I clearly advise agains buying a pbmining account.
Don't you agree? As I think about it, I should include this specific information as part of the sales
negotiations: "There is an option for changing the payout  address, but notice that I didn't use it
up to now and I cannot guarantee that it works as designed."

I mean how did you make the exchange? Did you just change the password and essentially sell that log in to them? If so did you have escrow going on? The change of address they can do handily enough I am sure.

[odlal]

"There is an option for changing the payout  address, but notice that I didn't use it up to now and I cannot guarantee that it works as designed."

It can only be changed with the help of the PBM Admins as far as I know, that's how it was when I changed mine some time ago.

[david123]

"There is an option for changing the payout  address, but notice that I didn't use it up to now and I cannot guarantee that it works as designed."

It can only be changed with the help of the PBM Admins as far as I know, that's how it was when I changed mine some time ago.

Maybe, that's what I mean with the buyer's bet.

I sell/sold the accounts together with email accounts. For each pbmining account I opened an new email account with a freemailer
before I signed up.

[raskul]

"There is an option for changing the payout  address, but notice that I didn't use it up to now and I cannot guarantee that it works as designed."

It can only be changed with the help of the PBM Admins as far as I know, that's how it was when I changed mine some time ago.

Maybe, that's what I mean with the buyer's bet.

I sell/sold the accounts together with email accounts. For each pbmining account I opened an new email account with a freemailer
before I signed up.

you do realise that what you are doing can be deemed illegal, don't you?

listing affiliate links without firm knowledge that it is a legitimate business is one thing, but you are actually selling off subscriptions to a known illegal activity.

regardless of whether or not the buyer is fully aware, what you are doing is illegal.