PBmining - legit?

[supersajin]

I have been with pbmining for about 90 days and can say I have been paid every week. No problems so far so they seem legit and their support is helpful and quick

Well, that would be difficult as they have created the Domain on December, 23rd 2013. When did they start selling hash power?

What would really be helpful if you'd share your customer number with us so we can see how you did so far?

Best

iFlash

Check my sig!!  I'm customer #36!

[oztusk]

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.

[t0maten]

anyone else who has login problems to pbmining?

[TechByPC]

No problems logging in here.

[fivejonnyfive]

I'm able to log in fine.

Yes I am a customer - and yes I have a link to an OBVIOUS ponzi in my signature but hey, at least I'm up front about that.

While I don't understand why PBmining doesn't want their coins traced - I do think that they are not adding capacity fast enough to be a ponzi scheme. Just my two cents. I've never seen any real evidence for them being a scam, yet I've never seen any evidence against. I'm inclined to trust but that may be a flaw of mine. We'll see. They've been great so far!

[MrPiggles]

I have been with pbmining for about 90 days and can say I have been paid every week. No problems so far so they seem legit and their support is helpful and quick

Waiting to hear how you were with PBmining before they had a domain?

[iflash]

He already said what his customer id is. It's probably fair to assume that he got the timing wrong. He mines at 73 GH/s. Invested money is partly back with him. But far from everything.

I think the discussion does not lead to anywhere from this point as nobody can say for sure if they are legit.

I do hope, though, that I will be able to report further payouts until the day comes when I break even.

[MrPiggles]

Yeah no point discussing it further, may as well just let this die down.



There is no reason for them to be so shady unless they're scamming, I think it's important that that is clearly noted on every page of this thread, so that attempts to make it look more legit by asking questions unrelated to their legitimacy doesn't cover this thread.

[iflash]

I think we're running in circles. Nobody in this thread claims that they are 100 per cent legit. Some just say, they are not sure whether they are or not where you - without showing evidence - claim that they are a scam.

You might be right. But so far your claim is only based on assumptions why they behave like they do.

Fact is: To this day all they have done is exactly what they advert they would.

Only when they fail to deliver THEN we know.

I don't fear that - after reading this thread - anybody would not be able to make a mature decision on whether to invest with them or not.

[MrPiggles]

Explain their behaviour in a non-scammer way then?

You can't.

My point was only to ensure that this page didn't just turn into a circle jerk between PBmining shill accounts about whether or not they can log into their account

[fivejonnyfive]

Explain their behaviour in a non-scammer way then?

You can't.

My point was only to ensure that this page didn't just turn into a circle jerk between PBmining shill accounts about whether or not they can log into their account

In not a shill, just a so-far satisfied customer.

And in terms of explaining their actions - maybe he doesn't want to reveal his mining addresses because he mines on eligius and to do so would reveal his stats pages. Perhaps he's worried about someone trying to change his settings. Or track his other purchases. Or realize he has a bunch of hashing power he isn't selling.

So yeah. There are explanations. I don't see compelling evidence one way or the other

[oztusk]

I have been with pbmining for about 90 days and can say I have been paid every week. No problems so far so they seem legit and their support is helpful and quick

Waiting to hear how you were with PBmining before they had a domain?

From Ebay---last year

[poldoc]

I am/was cloudmining through a number of different rigs. I started with cloudhashing.com before Christmas, invested with Butterfly Labs soon after, added CEX.IO to my portfolio, am dabbling with Dogecoin mining and accidentally found PB mining some weeks ago. Oh and by the way I also lost upwards of 13BTC in Mt Gox. So I have a bit of experience in the field. I can honestly say that, so far, PB are the most reactive comms-wise, seem to be the most patient and are coming up with the goods as promised in a most timely manner compared with all the others. whilst I may be relatively new to the world of bit coin I am able to research and make judgement calls on what I read and sometimes more importantly what I don't read about a set-up. Since I started with BP I have ceased using CEX.IO, Butterfly Labs are STILL prevaricating on their latest iteration and have not started cloud mining even though they have had my money since December, cloud hashing.com, whilst being a Brit company are very expensive and the contracts are annual, the DGC contract has yet to bear even 1 DGC......so all in all I would subscribe to the saying.....Caveat Emptor.......if you are concerned that PB is a 'scam' or a Ponzi then don't invest in them.......simple........otherwise don't invest more than you can afford to lose, hold your breath and enjoy the ride!!!.........just saying'!

[MrPiggles]

ooooh look, another person who registered just to say PBMining is legit

LOL

[iflash]

I do not see the point any longer in this discussion. As of today, we can not be absolutely sure what the outcome will be.

I would suggest that everybody that is unsure should not use them and let the ones that are already with them report on their findings.

By doing so, no potential harm is done and everybody is happy.

By this sunday I should have done a total of around 1.3 BTC paid out to me. Still, this is 7+ BTC away from my initial payment to them. I am still in good faith that I will reach my ROI somewhen in June or July.

IF THIS HAPPENS, then IMHO it's clearly NOT a ponzi as a Ponzi rarely makes profit for anybody else then the guys running one. Yes, I know, some schemes work even for the "early adopters" but being user #2332 I do not rate this "early", definitely not in a community where the target group is so small.

So - in a word: Don't sign up with them. Relax, wait a few months and see what happens to others. Then we will have an answer.

iFlash

[bdsmith62]

Hey all, Believe me or not, I don't care. I just want to know the legitimacy of PB so I bought 1 GHS for .008

Pretty cheap prices so I hope. If not no big loss, either way I'll let everyone know. Look at my previous posts I've never even mentioned bit coin or PB ever I mainly have been working on DOGE and Smart Coin.

Either way I ordered one GHS after confirming I was met with a blank white page that told me to send the amount to a certain address and that it could take up to 12 hours to process, the shear fact that there was no direct way to fund kind of bother me as it came off a little scamish however again, it's no big loss if it is.

I'll let everyone know whether or not I see anything by then it's 753 pm here in Korea now so if it has not gone through by the morning when I take my kids to school at 930 we will know its a scam.

http://i1173.photobucket.com/albums/r590/Ben_David_Smith/ScreenShot2014-03-13at75426PM.png

[ghur]

Hey all, Believe me or not, I don't care. I just want to know the legitimacy of PB so I bought 1 GHS for .008

Pretty cheap prices so I hope. If not no big loss, either way I'll let everyone know. Look at my previous posts I've never even mentioned bit coin or PB ever I mainly have been working on DOGE and Smart Coin.

Either way I ordered one GHS after confirming I was met with a blank white page that told me to send the amount to a certain address and that it could take up to 12 hours to process, the shear fact that there was no direct way to fund kind of bother me as it came off a little scamish however again, it's no big loss if it is.

I'll let everyone know whether or not I see anything by then it's 753 pm here in Korea now so if it has not gone through by the morning when I take my kids to school at 930 we will know its a scam.

Payouts don't guarantee it's not a scam. That's the point of this entire thread, to point out even if you get paid regularly for the next month, it still doesn't mean it's not a scam.

[iflash]

Well, 1 GH/s cost 5 USD. I think that there is not much risk with that ... 

[povlhp]

Got my first payment, and invested a bit more. Have 32 GHS with them now.
I also have an Antminer S1 - Just received today.

So I know, that there is no way they can keep running current hardware and keep it profitable. At some point, not too far away, power costs > BTC mined. Even if the bought very cheap hardware, today they need 2W/GH/hour = 48W / day = 1.44 kWh/mo = 86,4 kWh/5 years. Even at $0.10/kWh, that means over 5 years power costs more than initial sale price, and on top of that he needs to pay for hardware.

He says there are plans and agreements in place to upgrade HW, but that will cost money as well. Can't see the business case, unless he has/plans for angel investors planning to get customers and sell the company for an overprice. We are in a market where it is possible someone wants to buy a smaller cex.io, and get a market position. It is a cheap way to get rich.

Buy 25 Antminer S1, coast 650*25 = $16,250. You will get 5 TH/s right away, and you can start being a business. How you can do without fees, I don't know. You will mine 0.55 BTC/day, not much as a salary even if you keep it all. But you are in the market. You can sell hardware as well. Mining on it (burn-in test) while it is up for sale.

[MrPiggles]

I do not see the point any longer in this discussion. As of today, we can not be absolutely sure what the outcome will be.

I would suggest that everybody that is unsure should not use them and let the ones that are already with them report on their findings.

By doing so, no potential harm is done and everybody is happy.

By this sunday I should have done a total of around 1.3 BTC paid out to me. Still, this is 7+ BTC away from my initial payment to them. I am still in good faith that I will reach my ROI somewhen in June or July.

IF THIS HAPPENS, then IMHO it's clearly NOT a ponzi as a Ponzi rarely makes profit for anybody else then the guys running one. Yes, I know, some schemes work even for the "early adopters" but being user #2332 I do not rate this "early", definitely not in a community where the target group is so small.

So - in a word: Don't sign up with them. Relax, wait a few months and see what happens to others. Then we will have an answer.

iFlash

Believe it or not I don't give a fuck if you see any point to us keeping this going. We're 2nd place on google for "is PBmining legit" and " pbmining scam" the evidence points to it being a scam and the more people that know it the better.

I know i'm probably pissing in the wind, I can't even convince idiots that leancy, run by a known fraudster and offering 5% a day is a scam, so I know I have next to zero chance of convincing many people this is a scam til they run off with your bitcoins.

Bitcoin stories of overnight millionaires and get rich quick schemes have attracted hordes of gullible idiots to this forum, I may as well just join in and fleece them.

Anyone want in on MrPigglesMining.com?

I'll sell you 1gh for 1/2 price of PBmining.