PBmining - legit?

[Syke]

why is it financially implauseable?... thats 2000 per day after all expense.
i beleive you just think its implauseable.

Just think how much profit they really have since there are no expenses!

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[XScrypt]

why is it financially implauseable?... thats 2000 per day after all expense.
i beleive you just think its implauseable.

Scammers make money too. That doesn't mean they have a legit business model.

It's not really that hard to think about. Hardware, power, cooling, space. Rapidly increasing difficulty. Rapidly depreciating hardware value. After a year it will cost more to run and maintain the equipment than you can earn from mining (if they even have the equipment), and that's assuming bitcoin doesn't continue to fall in value. And yet they're selling 5 year contracts not only below hardware cost but also below operating cost.

It doesn't take a Ph.D in economics to figure this one out.

Now add in the fact that they're mixing the coins. Rather odd. Why would they want to obscure the source of the coin? The security excuse doesn't hold water, but mixing coins sure produces a nice cover for whatever you're doing on the back end if it would be "inconvenient" for someone to find out.

Too me, this has the signs of a ponzi. If these guys are still around in a year I might reconsider.

[Syke]

Now add in the fact that they're mixing the coins. Rather odd. Why would they want to obscure the source of the coin? The security excuse doesn't hold water, but mixing coins sure produces a nice cover for whatever you're doing on the back end if it would be "inconvenient" for someone to find out.

This is a key point. They say they are mixing to stay safe? The only untraceable coins are mined coins. If they really were mining, they would have the safest coins possible. Mixing is proof they are doing something wrong.

[TechByPC]

Madoff was making quite a bit too.

[jparsley]

Looking to buy some ghz here.

[ChuckBuck]

Looking to buy some ghz here.

Remember it's a 5 year contract, and you can't sell it like Cex.io.

Also, it's GH/s for Gigahash not GHz for Gigahertz.   

[swetlife]

I will say I have had a break even ROI on my first investments from Feb, but with the difficulty rises my later investments have slowed down the return.

[FalconFly]

I will say I have had a break even ROI on my first investments from Feb, but with the difficulty rises my later investments have slowed down the return.

And here we have another brilliant example...

Analyzing his other posts, we find out :
- 05 March posted has been toying around for a few weeks on pbmining
- 27 March posted that he increased his position to 29GHs
- 30 March posted that he increased his position to 37GHs
- 02 April posted that he increased his position to 50GHs

.... today posted that he already achieved ROI on his early GHs (10 April).

It doesn't take a math genius to figure out that this is absolutely impossible to achieve within ~2 months, hence a clearly false statement.

Once again, disinfo is being spammed into the forum to openly advertise pbmining, brought forward by Forum newbies that registered to the forum after pbmining was introduced to the Forum on 16 Jan 2014.
It doesn't take a forensic specialist to connect the dots and spot a clear trend here and it just keeps reoccuring.

Not making any final judgment on that (lack of definite proof), but I'd be extremely careful with that service by now...

[xdmlaser]

I just decided to BLAST twitter with referral links....might as well add 'piggies' to the ponzi so I earn more btc faster , then I can GTFO

I hope you understand that by doing that after understanding that it is a ponzi you become part of the problem and complicit with the scam. Put the shovel away, you're digging yourself an even bigger hole to fall into.

BULL, I'm getting my money back, so I will keep digging, PISS OFF

[coinnewbit]

PB Mining is EXCELLENT!!  I have been a member for almost 30 days and 2 weeks from breaking even on my investment.  I'm customer #36

PB pays every Sunday with excellent customer service.  They are vetted on Ebay with a 97% approval rating. They only recently got into the cloud mining business after successfully selling mining equipment for about a year.

I have made good $$ cloud mining, don't let the ignorant posters in these forums scare you off by screaming "scam" to every program.  Do your homework, PM members like myself to verify and then make your own personal decision.

Are you being paid to advertise paining?

[tempestb]

Someone quote me, I've said this before - but no one quoted it.

PBMining made a DPR style mistake, early on. I have connected them to at least one real life identity. So when this goes tits up, you can all come crying to me for their Doxx.

I won't post who I am, but I was solely responsible for outing a major scammer and putting him away. When this goes tits up, I will post the link to the other story I was responsible for and you can see I am for real.

MrPiggles - Doxxing scammers since 2012.

Who cares who you are and what you did?  Whoop-dee-doo...  Here's an idea.  Go find some evidence that they are or aren't a scam and post it rather than just sitting in here guessing and allowing people to either lose money, or sit in fear that they might lose money.  Otherwise, you guessing that they are a scam and wanting credit for it is super-dumb.  You won't get it.  Nobody cares about your ego.

You want to out them, you want to be a hero, then really out them or prove they are legit.  Do one or the other.

In the meantime, everyone should remain highly suspect and cautious of doing business with them.

[ghur]

Go find some evidence that they are or aren't a scam and post it rather than just sitting in here guessing and allowing people to either lose money, or sit in fear that they might lose money.

There has been plenty of evidence put forth that makes this a likely scam and only very little evidence to refute it.
If people still choose to invest with pbmining, it's entirely on them. There's not much more that can be done.

[tempestb]

What's been presented is circumstantial evidence at best.  Without proof it's still up in the air.  Get some proof for them or against them.  Save everyone a lot of drama... 

[ghur]

What's been presented is circumstantial evidence at best.  Without proof it's still up in the air.  Get some proof for them or against them.  Save everyone a lot of drama...  

There won't be definitive proof until they take their money and run.
And we won't see that point as long as people keep throwing money at them.

All their effort has gone into remaining anonymous and hiding everything they do.

But honestly, what you're suggesting is entirely backwards either way. Companies are the ones that should be proving their legit.
Only in the bitcoin world people are apparently crazy enough to make a 5 year investment with a party they know absolutely nothing about.
Anyone who is still investing after reading everything put forth in this thread is taking a terrible gamble on a service that even when legit offers almost no ROI.

[MrPiggles]

Who cares who you are and what you did?  Whoop-dee-doo...  Here's an idea.  Go find some evidence that they are or aren't a scam and post it rather than just sitting in here guessing and allowing people to either lose money, or sit in fear that they might lose money.  Otherwise, you guessing that they are a scam and wanting credit for it is super-dumb.  You won't get it.  Nobody cares about your ego.

It's no fun to doxx them before they scam everyone.

I'll get to say I told you so and rub their noses in it

[botolo86]

It's no fun to doxx them before they scam everyone.

I'll get to say I told you so and rub their noses in it

Is this something recent? I seem to recall that you were dubious at the beginning of this thread and you were basing your assumptions on the fact that PBMining did not disclose their hardware, did not answer questions, etc. Now it seems like you got some additional info and you are 100% sure of PBMining being a scam. Is this correct?

[anuragh27crony]

well...i don't own pBmining...frankly...i invested in CEX.IO couple of months back and now my investments are halved..
I spent arnd 1.2-1.5 BTC to get 60GHS and now due to current price it could trade off all for 0.64 BTC

I saw good proposition in PBmining...since there are no maintenance fees though it's 5yr contract which i can cancel any time to get my investment back w.r.t wht ever i have earned ...compared to cex which was taking away.. 20-25% of earnings as fees plus trading of GHs which can increase or decrease...and given CEX adding more Hahsing in the name of Futures at cheaper rates...i don't see value of GHs increasing atleast not nearby.

To clarify my doubts I emailed PBmining Admin...he did said they included the margin in the cost per GHS which seems fair to me...Rather payaing fees on every block mined(CEX)..good to mine for 5 yrs without single fees... Though increasing difficulty levels is different dimension altogether.

Well this is all my exp ... not sure it might b the same with others..

[laflaflaf]

pb mining was selling mining contracts on ebay quite awhile before the presence on this forum.
hes got experience obtaining large amounts of mining gear and working with it.
check his ebay link on the landing page.
as an experienced miner he stands to make much more profit with an honest operation than with any scam.
thats what decided me on going in for a couple btc.

[FalconFly]

pb mining was selling mining contracts on ebay quite awhile before the presence on this forum.
hes got experience obtaining large amounts of mining gear and working with it.
check his ebay link on the landing page.
as an experienced miner he stands to make much more profit with an honest operation than with any scam.
thats what decided me on going in for a couple btc.

...and another fake sockpuppet account spamming for pbmining.

[Wattda]

Evidence??? note they no longer post how much hashing power they mine or their payouts.