Recovery program beginning in January for PB Mining customers.

[zerocoder]

I don't understand the situation, so the whole system turned out to a ponzi and bankrupt right?

a ponzi, yes, but far from bankrupt, it's made the Boyo a sweet pile of cash.

So customers will resume getting their payouts right?

[1714009686]

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[1714009686]

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[Hiraga]

This could go in the books as one of the greatest scams of 2014.

People only started to complain when the contract was breached, not the other way around. This will definately end up in court in 2015.  

[raskul]

I don't understand the situation, so the whole system turned out to a ponzi and bankrupt right?

a ponzi, yes, but far from bankrupt, it's made the Boyo a sweet pile of cash.

So customers will resume getting their payouts right?

i think that there is absolutely no way that Jason The Boyo will evade jailtime, nomatter what he tries to do to rectify the situation.

[Puppet]

i think that there is absolutely no way that Jason The Boyo will evade jailtime, nomatter what he tries to do to rectify the situation.

At least its a large and beautiful jail

[Puppet]

To all victims that didnt see this coming, or those (crazy enough to be) looking for another cloudmining provider, please read this
Cloudmining 101 (ponzi risk assessment) first.

[sandykho47]

You really have to return our money/bitcoin
You must be ashamed of yourself, how can you steal our money !

Give back my 0.033 BTC (11 GHs) ASAP !

I don't understand the situation, so the whole system turned out to a ponzi and bankrupt right?

The system is a ponzi, but most likely he will run with a lot of bitcoin 

[odlal]

Complaint of fraud against ‘contractual offerings’ by self-professed Bitcoin mining operation www.pbmining.com (piggyback mining) which is based in Canada.

Specifically, my complaint is against the following business entity

Name: DIGITAL MINING STORE
Address: 314 33RD STREET EAST
City/Province: SASKATOON, SK
Country/Postal Code: CANADA, S7K0S4
Sole Proprietor: JASON BOYKO

On or around the beginning of 2014, Sole Proprietor of Digital Mining Store, Jason Boyko set up www.pbmining.com as a ‘Bitcoin Cloud Mining Operation’ which purported to sell cloud contracts related to Bitcoin hardware, in return for freshly ‘mined’ Bitcoins - the process which produces Bitcoins. It has been stated that as well as having their own locally-based ‘mining farm’ they also have mining operations in Iceland.

After several months of running this scheme, which has become evident to have no Bitcoin Mining Hardware operational, the scheme is now running down, paying out only a fraction of what would be earned, had the scheme be producing freshly mined Bitcoins, as per the algorithm which is necessary to produce said Bitcoins.

Jason Boyko has used hard marketing incentives such as referral commissions of 10% and ‘giveaways’ to encourage consumers to promote the service to new customers. This is evidently, nothing more than a pyramid scheme, encouraged to consumers by Jason Boyko that it has been a legitimate mining operation. Jason Boyko continues to insist that the operation have been legitimate by addressing customers on the website forum www.bitcointalk.org.

It has become evident that www.pbmining.com is an elaborate pyramid scheme and has no real mining operations, of which it is advertised to be and I urge your department to look into this issue fully, as Jason Boyko has clearly reaped millions of dollars in earnings from the victims who have bought into this fake operation.

yours sincerely,

+1 !!!

[raskul]

Complaint of fraud against ‘contractual offerings’ by self-professed Bitcoin mining operation www.pbmining.com (piggyback mining) which is based in Canada.

Specifically, my complaint is against the following business entity

Name: DIGITAL MINING STORE
Address: 314 33RD STREET EAST
City/Province: SASKATOON, SK
Country/Postal Code: CANADA, S7K0S4
Sole Proprietor: JASON BOYKO

On or around the beginning of 2014, Sole Proprietor of Digital Mining Store, Jason Boyko set up www.pbmining.com as a ‘Bitcoin Cloud Mining Operation’ which purported to sell cloud contracts related to Bitcoin hardware, in return for freshly ‘mined’ Bitcoins - the process which produces Bitcoins. It has been stated that as well as having their own locally-based ‘mining farm’ they also have mining operations in Iceland.

After several months of running this scheme, which has become evident to have no Bitcoin Mining Hardware operational, the scheme is now running down, paying out only a fraction of what would be earned, had the scheme be producing freshly mined Bitcoins, as per the algorithm which is necessary to produce said Bitcoins.

Jason Boyko has used hard marketing incentives such as referral commissions of 10% and ‘giveaways’ to encourage consumers to promote the service to new customers. This is evidently, nothing more than a pyramid scheme, encouraged to consumers by Jason Boyko that it has been a legitimate mining operation. Jason Boyko continues to insist that the operation have been legitimate by addressing customers on the website forum www.bitcointalk.org.

It has become evident that www.pbmining.com is an elaborate pyramid scheme and has no real mining operations, of which it is advertised to be and I urge your department to look into this issue fully, as Jason Boyko has clearly reaped millions of dollars in earnings from the victims who have bought into this fake operation.

yours sincerely,

+1 !!!

http://www.antifraudcentre-centreantifraude.ca/english/reportit-howtoreportfraud.html

[bitcoinmind]

so if this is the end, how much they stole?

[thirdprize]

Looks like I lost £20.  Ho hum.  Sorry for anyone who invested lots.

[bitcoinmind]

Looks like I lost £20.  Ho hum.  Sorry for anyone who invested lots.

I'm asking because i saw someone was counting in around 2000 btc..?

[btcgnome]

Thank you everyone for exposing this guy.  There's so many that deserves the credit.

All I want for Christmas is my btc back.  I will try to file a complaint from the link provided here.

I had only started a month and I had bought a total of 25 Th/s @ 1.4 btc/Th/s.
At the time of contract purchase, BTC was about $380.

Rewards Received:  ~6 btc
This is my loss:  (25*1.4) - 6 = 29 BTC (approximate) which comes up to about $11K.
I was planning to go back home to my country and retire....but now I can't .

[guruton]

Thank you everyone for exposing this guy.  There's so many that deserves the credit.

All I want for Christmas is my btc back.  I will try to file a complaint from the link provided here.

I had only started a month and I had bought a total of 25 Th/s @ 1.4 btc/Th/s.
At the time of contract purchase, BTC was about $380.

Rewards Received:  ~6 btc
This is my loss:  (25*1.4) - 6 = 29 BTC (approximate) which comes up to about $11K.
I was planning to go back home to my country and retire....but now I can't .

I bought 30Th/s in the middle of November and bought with all profits more 6Th/s and BTC was about 325€ when I purhase and also have another account with 5200 Gh/s, so the total losses are too much when I have invested everything I have.

I move in Brazil now in 12th this month and had calculated that I`ll be fine with profits from Pbmining, so I am really screwed because of this!

No money ain`t so funny.

[Warren Buffet]

Have anyone noticed that there is no shutdown notice or announcement on PBmining.com website ? Here Jason is talking about January. I think he is just buying time and will continue his operation at an increases difficulty from January.

[coinmaster222]

Or in fact still collecting money knowing he is never going to pay out seems more likely

[Quantum12]

I also respectfully require a refund i only signed up 2 weeks ago!

Customer #: 38631

i didn't invest much but its a lot for me in this crazy crypto world..

Q

[adib]

Maybe we should ask this guy for details.
"SweetLou 0: -0 / +0(0)   2014-04-16   0.00000000   Reference   Worked with him in developing the original PBMining website. Awesome person to deal with. Looking forward to future projects."

[Puppet]

Have anyone noticed that there is no shutdown notice or announcement on PBmining.com website ? Here Jason is talking about January. I think he is just buying time and will continue his operation at an increases difficulty from January.

He is buying time, that much is obvious, was predictable and predicted.
But he is still "out of stock", and since we nailed his id, I seriously doubt he would be digging an even bigger pit for himself.

[btcgnome]

Have anyone noticed that there is no shutdown notice or announcement on PBmining.com website ? Here Jason is talking about January. I think he is just buying time and will continue his operation at an increases difficulty from January.

Someone posted this on the other board. Continuing a new scam?
http://pbmining.ru

[Puppet]

No, its either someone trying to steal login credentials, or more likely, just translated the site to russian to get referrals.