dannyrayat (OP)
Newbie
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Activity: 21
Merit: 0
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May 31, 2014, 08:59:33 PM |
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Hey Guys ! I am a newbie in mining first I was planning to purchase mining equipment but when I saw this website PBmining.com They sell 0.0044/BTC per GH. So, if I purchase direct GH from that website site will it make me profit? I am planning to purchase 200GH/s.  Please share your views!  Thanks Danny   |
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dannyrayat (OP)
Newbie
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Activity: 21
Merit: 0
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May 31, 2014, 09:22:47 PM |
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crunck
Legendary
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Activity: 1176
Merit: 1005
crunck
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May 31, 2014, 09:51:54 PM |
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I saw few posters commenting about it being a ponzi-like and not about actual mining.
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byt411
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May 31, 2014, 10:58:49 PM |
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Well, it's a contract for five years, so you will definitely break even. If you are going to buy, please buy through my ref link |
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wasserman99
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May 31, 2014, 11:53:44 PM |
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I think this is similar to cex.io, am I correct? I think the only reason you could make money or break even easily is because others are dumb enough to buy the contracts from you. Like some else said, like a ponzi....
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byt411
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May 31, 2014, 11:56:03 PM |
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I think this is similar to cex.io, am I correct? I think the only reason you could make money or break even easily is because others are dumb enough to buy the contracts from you. Like some else said, like a ponzi....
It's not the same. It's not a ponzi like pyramining either. It's a hashing contract for 5 years. You buy that directly from PBMining. You can trade your ghashed on cex.io, but you cannot on PBMining. |
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wasserman99
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May 31, 2014, 11:58:12 PM |
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I think this is similar to cex.io, am I correct? I think the only reason you could make money or break even easily is because others are dumb enough to buy the contracts from you. Like some else said, like a ponzi....
It's not the same. It's not a ponzi like pyramining either. It's a hashing contract for 5 years. You buy that directly from PBMining. You can trade your ghashed on cex.io, but you cannot on PBMining. What is to stop people from buying contracts from one another? If you can't do it directly on their site, is there any reason you couldn't do it elsewhere? If not, I'm sure there would be a market on this forum, for instance. |
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harlenadler
Sr. Member
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Activity: 430
Merit: 250
Agent of Chaos
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June 01, 2014, 01:08:37 AM |
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I'd like to know more about this as well. When I saw the threads in the marketplace, I kind of assumed it was just like cex.io. That was my first thought anyway. If it's not, maybe I'm interested.
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acs267
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June 01, 2014, 01:14:02 AM |
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I think this is similar to cex.io, am I correct? I think the only reason you could make money or break even easily is because others are dumb enough to buy the contracts from you. Like some else said, like a ponzi....
It's not the same. It's not a ponzi like pyramining either. It's a hashing contract for 5 years. You buy that directly from PBMining. You can trade your ghashed on cex.io, but you cannot on PBMining. What is to stop people from buying contracts from one another? If you can't do it directly on their site, is there any reason you couldn't do it elsewhere? If not, I'm sure there would be a market on this forum, for instance. Agreed. Some people could just trade their account to one another, and sell it lower than the contract price. Really no way to stop it. |
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odolvlobo
Legendary
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Activity: 4354
Merit: 3273
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June 01, 2014, 02:54:38 AM |
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I'm skeptical.
First, suppose you own 1000 GH/s of mining equipment and that mining equipment will earn 5 to 6 BTC over the next several months. Would you rent it out for 4.4 BTC?
Second, don't forget that you also have to maintain the equipment and pay for 5 years worth of electricity.
Does that sound rational? It doesn't to me.
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acs267
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June 01, 2014, 03:11:58 AM |
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I'm skeptical.
First, suppose you own 1000 GH/s of mining equipment and that mining equipment will earn 5 to 6 BTC over the next several months. Would you rent it out for 4.4 BTC?
Second, don't forget that you also have to maintain the equipment and pay for 5 years worth of electricity.
Does that sound rational? It doesn't to me.
Didn't even think about that. Electricity bills depend on where you normally live, so it might be costly if they live in any of the metro or huge cities. Which could totally mess up the ordeal. And anything can happen to their company or the profitability of rigs in that time range. |
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junshong
Full Member
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Activity: 192
Merit: 100
Hi!
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June 01, 2014, 05:13:58 AM |
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They didn't prove that they physically own the hardware, possible ponzi scam.
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CEG5952
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June 01, 2014, 05:17:38 AM |
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They didn't prove that they physically own the hardware, possible ponzi scam.
Yes, I am very skeptical of the people behind this. I don't see any proof of anything, and as someone else mentioned, it is a very odd setup that doesn't make a whole lot of sense. I would proceed with extreme caution. |
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DolanDuck
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June 01, 2014, 05:24:34 AM |
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They didn't prove that they physically own the hardware, possible ponzi scam.
I found this on a review, seems to be a bit risky but profitable: Company Background: Bitcoin Mining company PB Mining is based in SK, Canada, and has successfully sold Bitcoin mining hardware on eBay for two years. Further information about the company for a thorough Bitcoin mining comparison is more difficult to find. Customers are advised to exercise caution on this point. However, Bitcoin mining rates are quite inexpensive, customer support has been excellent, and Bitcoin mining clients have been paid promptly based on their Bitcoin mining investment in the company. |
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PRIMEDICE The Premier Bitcoin Gambling Experience @PrimeDice
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KimNam
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June 01, 2014, 05:25:07 AM |
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they neither show us proof that they have mining rig and BTC that mined from pools
they only give you fix rate BTC from GHS you purchased before
and they paid weekly using mixing/shared coin to us all
why they use mixing/shared coin? because they don't want us know from where the coins originated
it makes sense? sorry, no for me
it's like they laundering coins.
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dannyrayat (OP)
Newbie
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Activity: 21
Merit: 0
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June 01, 2014, 08:36:52 AM |
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hey guys today I received payment from PBmining.com. The address from where i got coins - 1Payday1sm5wGqtatKscfXnxARZ2B2MF3z http://i61.tinypic.com/mc88k3.jpg |
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byt411
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June 01, 2014, 11:42:56 AM |
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I got paid today too. Look, it might be a ponzi, but the whole point is that it's a sustainable and paying ponzi.
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eid
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June 01, 2014, 11:57:50 AM |
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I got paid today too. Look, it might be a ponzi, but the whole point is that it's a sustainable and paying ponzi.
A ponzi, by definition, is unsustainable. It can only continue as long as new investors come in. https://en.wikipedia.org/wiki/Ponzi_scheme |
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byt411
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June 01, 2014, 11:59:38 AM |
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I got paid today too. Look, it might be a ponzi, but the whole point is that it's a sustainable and paying ponzi.
A ponzi, by definition, is unsustainable. It only lasts as long as new investments come in. https://en.wikipedia.org/wiki/Ponzi_schemeHey, you know, as bitcoin difficulty rises, payouts will go down. The funds from the bought contracts can be then paid out. So it will last more and more. And even if they don't have that many TH/s, they should at least have some. |
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