Recovery program beginning in January for PB Mining customers.

[thirdprize]

HP?

[MichaelNZ]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

By paying MichaelNZ and me he´s just pissing off some garbage around here. I hope he does more of it. The more it lost the better.

No extra BTC for me this week, just the normal sweeping of dust.
Did anyone else get an extra bonus payment this payout cycle ?

[peligro]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

I would have thought he would offer a cut price settlement which if the customers agree frees him from any liabilities. These small payments doesn't make any sense.

[MichaelNZ]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

I would have thought he would offer a cut price settlement which if the customers agree frees him from any liabilities. These small payments doesn't make any sense.

I think the continued tiny payments reflect the true amount of hash power through whatever means that PBM has available. Further the dust sweepings paid out each week mean that PBM are not in breach of their 5 year contracts ... People invested in a cloud mining contract with a fixed term of 5 years, there are no undertaking that they weekly payments would be any size or value, only that there would be a weekly payment.

Last week as well as the dust some people received an additional payment, in my case that was 2.0 BTC for galdur it was 0.666 BTC ... Those are only the 2 extra payments that we know of because we both chose to disclose it in this forum ... There are likely to be other people that received an extra payment that we have no knowledge of.

As has already been pointed out the subject of this thread is Recovery program beginning in January for PB Mining customers. Not completed during January or finished during January, but beginning in January ... Extra payments have been made, but so far no communication has come from PBM / Boyko to explain the reasoning behind those payments.

The PBM account has not been online since Jan 4 ... Mind you who can blame them, every time they are online all they get is endless streams of threats and abuse. I imagine that Boyko has created a new anonymous account so he can login and see what is being said, if he even cares about that and wants to see.

The next month or two are going to be important ... I continue to hope it will be positive, but I am prepared for it to not be.

[Phildo]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

I would have thought he would offer a cut price settlement which if the customers agree frees him from any liabilities. These small payments doesn't make any sense.

I think the continued tiny payments reflect the true amount of hash power through whatever means that PBM has available. Further the dust sweepings paid out each week mean that PBM are not in breach of their 5 year contracts ... People invested in a cloud mining contract with a fixed term of 5 years, there are no undertaking that they weekly payments would be any size or value, only that there would be a weekly payment.

Last week as well as the dust some people received an additional payment, in my case that was 2.0 BTC for galdur it was 0.666 BTC ... Those are only the 2 extra payments that we know of because we both chose to disclose it in this forum ... There are likely to be other people that received an extra payment that we have no knowledge of.

As has already been pointed out the subject of this thread is Recovery program beginning in January for PB Mining customers. Not completed during January or finished during January, but beginning in January ... Extra payments have been made, but so far no communication has come from PBM / Boyko to explain the reasoning behind those payments.

The PBM account has not been online since Jan 4 ... Mind you who can blame them, every time they are online all they get is endless streams of threats and abuse. I imagine that Boyko has created a new anonymous account so he can login and see what is being said, if he even cares about that and wants to see.

The next month or two are going to be important ... I continue to hope it will be positive, but I am prepared for it to not be.

Stop saying this. If they aren't paying you for the amount of hashpower you payed for, they are in breach. If they lied about how much they had, it's fraud. Don't sit there and let him pay you dust for 5 years while you get fucked, and more importantly, don't tell other people to sit there and take it.

[SimplisticStu]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

I would have thought he would offer a cut price settlement which if the customers agree frees him from any liabilities. These small payments doesn't make any sense.

I think the continued tiny payments reflect the true amount of hash power through whatever means that PBM has available. Further the dust sweepings paid out each week mean that PBM are not in breach of their 5 year contracts ... People invested in a cloud mining contract with a fixed term of 5 years, there are no undertaking that they weekly payments would be any size or value, only that there would be a weekly payment.

Last week as well as the dust some people received an additional payment, in my case that was 2.0 BTC for galdur it was 0.666 BTC ... Those are only the 2 extra payments that we know of because we both chose to disclose it in this forum ... There are likely to be other people that received an extra payment that we have no knowledge of.

As has already been pointed out the subject of this thread is Recovery program beginning in January for PB Mining customers. Not completed during January or finished during January, but beginning in January ... Extra payments have been made, but so far no communication has come from PBM / Boyko to explain the reasoning behind those payments.

The PBM account has not been online since Jan 4 ... Mind you who can blame them, every time they are online all they get is endless streams of threats and abuse. I imagine that Boyko has created a new anonymous account so he can login and see what is being said, if he even cares about that and wants to see.

The next month or two are going to be important ... I continue to hope it will be positive, but I am prepared for it to not be.

Stop saying this. If they aren't paying you for the amount of hashpower you payed for, they are in breach. If they lied about how much they had, it's fraud. Don't sit there and let him pay you dust for 5 years while you get fucked, and more importantly, don't tell other people to sit there and take it.

I do not think this argument would hold up anywhere IMO.

Yes we paid for a certain hash power along with a set formula, and here's the clever bit, he changed the formula which I cannot find anywhere it states he cannot do this. Therefore he is still paying customers based on his revised formula of A + B = C so it's hard to find where the "breach" is.

Annoying? Yes, it's very annoying but I'm pointing out what I believe is the current situation.

[clownius]

how the heck are people getting small payments, when the ponzi is over?

Hes feeding people dust in the hope they maintain hope of a restart and dont go after him.  Throw in a couple of larger payments to shills and it might even work

I would have thought he would offer a cut price settlement which if the customers agree frees him from any liabilities. These small payments doesn't make any sense.

I think the continued tiny payments reflect the true amount of hash power through whatever means that PBM has available. Further the dust sweepings paid out each week mean that PBM are not in breach of their 5 year contracts ... People invested in a cloud mining contract with a fixed term of 5 years, there are no undertaking that they weekly payments would be any size or value, only that there would be a weekly payment.

Last week as well as the dust some people received an additional payment, in my case that was 2.0 BTC for galdur it was 0.666 BTC ... Those are only the 2 extra payments that we know of because we both chose to disclose it in this forum ... There are likely to be other people that received an extra payment that we have no knowledge of.

As has already been pointed out the subject of this thread is Recovery program beginning in January for PB Mining customers. Not completed during January or finished during January, but beginning in January ... Extra payments have been made, but so far no communication has come from PBM / Boyko to explain the reasoning behind those payments.

The PBM account has not been online since Jan 4 ... Mind you who can blame them, every time they are online all they get is endless streams of threats and abuse. I imagine that Boyko has created a new anonymous account so he can login and see what is being said, if he even cares about that and wants to see.

The next month or two are going to be important ... I continue to hope it will be positive, but I am prepared for it to not be.

Stop saying this. If they aren't paying you for the amount of hashpower you payed for, they are in breach. If they lied about how much they had, it's fraud. Don't sit there and let him pay you dust for 5 years while you get fucked, and more importantly, don't tell other people to sit there and take it.

I do not think this argument would hold up anywhere IMO.

Yes we paid for a certain hash power along with a set formula, and here's the clever bit, he changed the formula which I cannot find anywhere it states he cannot do this. Therefore he is still paying customers based on his revised formula of A + B = C so it's hard to find where the "breach" is.

Annoying? Yes, it's very annoying but I'm pointing out what I believe is the current situation.

One party to a contract cant just change the terms mid contract.

Your contract was for x GH not whatever he feels like paying now.

A certain pair of posters here come up with endless excuses for why wehat hes doing is actually OK.  They also claim to have received extra payments.  IMO its payment for services rendered in shilling.

At the end of the day its fraud.  A failed Ponzi and you know whos involved.  I suggest people take whatever action appropriate.  Maybe even use some info on the shills as they appear to be involved too.

[Phildo]

The fact that there is "a formula" means you were ripped off.

The only formula should be coins mined/hashpower each person paid for. The whole thing is kind of moot because you would be fucked even if he had the hashpower he promised you wouldn't get what you paid in, but that still doesn't meaning sitting here and taking it (and encouraging others to to the same) is smart.

[Mabsark]

The fact that there is "a formula" means you were ripped off.

The only formula should be coins mined/hashpower each person paid for. The whole thing is kind of moot because you would be fucked even if he had the hashpower he promised you wouldn't get what you paid in, but that still doesn't meaning sitting here and taking it (and encouraging others to to the same) is smart.

Using a formula means no such thing and most of the manufacturers cloud mining services payout based on a formula. The formula is as follows:

Hash Rate * Block Reward * Seconds * 65535 / (2^48 * Difficulty)

which gives the average payout a miner should get. In other words, using the formula simply removes the variance involved in mining. From that value, the service then just has to subtract their maintenance fees.

The problem isn't that some scammers are also using the above mining income formula, the problem is that those scammers refuse to provide their part of the formula - their maintenance fees. That means that those scammers can pay you whatever they want.

[MrTeal]

It is interesting. Most customers got their usual dust, but a couple addresses got more.
For instance, the largest "normal" transaction got BTC0.18030331 to address 15wcWZ3qdadnvkJUshBmQNb9Ec3HJY5Wos. However, that address used to get tens of BTC per week and is quite possibly one of PBM's addresses anyway.
On top of that though, there's 3 payouts that are much higher.
BTC0.666 to 1S5jZoMaCAXU5ouCJUdqNqa91JyndhsKY
BTC2.0 to 1EypqcpArB8omVxPXWNG6nJmQB8VaY2VE1
BTC2.1 to 1BCNjdPdJpAVAJqPQjSZXXVWsky4tRbZe2

The 1BCN address appears to be a PBMining one based on this transaction paying 1BCN and a different 1PAYU address at the same time.
The other two appear to actually be PBM customers though. If that's the case, it's very interesting.

Well, since 1BCN was used for this week's payout, I was right about it being one of PBM's addresses. That leaves the bonus payouts to galdur and MichaelNZ as the only "recovery" payouts made in January. It doesn't appear that any bonuses went out this week.

[JohnnyBTC]

agreed with mrteel its not possible at all that pbm is doing refunds with any other addresses. cointelegraph even said that satoshi is only alowing pb mining 2 addreses for giving refunds out and hes not allowed to send refunds from different adresses

[MichaelNZ]

It is interesting. Most customers got their usual dust, but a couple addresses got more.
For instance, the largest "normal" transaction got BTC0.18030331 to address 15wcWZ3qdadnvkJUshBmQNb9Ec3HJY5Wos. However, that address used to get tens of BTC per week and is quite possibly one of PBM's addresses anyway.
On top of that though, there's 3 payouts that are much higher.
BTC0.666 to 1S5jZoMaCAXU5ouCJUdqNqa91JyndhsKY
BTC2.0 to 1EypqcpArB8omVxPXWNG6nJmQB8VaY2VE1
BTC2.1 to 1BCNjdPdJpAVAJqPQjSZXXVWsky4tRbZe2

The 1BCN address appears to be a PBMining one based on this transaction paying 1BCN and a different 1PAYU address at the same time.
The other two appear to actually be PBM customers though. If that's the case, it's very interesting.

Well, since 1BCN was used for this week's payout, I was right about it being one of PBM's addresses. That leaves the bonus payouts to galdur and MichaelNZ as the only "recovery" payouts made in January. It doesn't appear that any bonuses went out this week.

I have no idea idea why galdur and I received extra payments ... Lucky us ... According to clownius that makes us shills and in the employ of PBM ... YEAH FUCKING RIGHT pull your head in boy. I've already been accused of being Boyko by Henry (investor respect) in fact he got very ugly about it (cunt) I am not nor have I ever been nor will I ever be an associate or employee or "shill" for PBM ... I like the rest of you am simply another sucker that is losing out on the back of PBM failing ... 4500 Gh/s lost on PBM AND 2.0 Th/s lost on Cointerra AND I got Goxed as well ... Boyko is no mate of mine believe me !!!

[krle27]

payouts at last sunday was from another adresses...for the first time I was paid form that adresses ...

[thirdprize]

I like the rest of you am simply another sucker that is losing out on the back of PBM failing ... 4500 Gh/s lost on PBM AND 2.0 Th/s lost on Cointerra AND I got Goxed as well

I think I would have given up with bit coin by now if I were you. 

[snarlpill]

Holy shit, how am I just now seeing this about the shit hitting the fan with PBMining? Oh, how many countless times had people accused PB of being a Ponzi scheme with never any real proof given of a legitimate mining operation? And most people usually mocked that accuser or insinuated they were just overtly paranoid...   Looks like they were right the whole time. Sad how many "cloud mining" operations turned out to be scams/Ponzis... it's hard to even think of a legitimate one. Bit-mining.co, Lunamine.com, PBMining.com, those are just a few off the top of my head in recent times.

From what I can tell, it definitely looks like MrTeal is the hero here- great job for releasing his identity and having the best interests of the community! And OP mentioned death threats? While I am not condoning anything, keep in mind that in some parts of the world you can have your hand cut off for stealing less than a $1 worth of merchandise....  and your trust ratings say you made off with around 400 BTC.

Unfortunately, it looks like the OP/PBMining hasn't been online here for about a month's time. I would just advise staying on it/him and not throwing in the towel if you lost money to this scam operation.

Good luck everybody.

[MichaelNZ]

I like the rest of you am simply another sucker that is losing out on the back of PBM failing ... 4500 Gh/s lost on PBM AND 2.0 Th/s lost on Cointerra AND I got Goxed as well

I think I would have given up with bit coin by now if I were you. 

I can only say I was seduced by the idea of an alternative currency and that blinded me a bit ... I didn't appreciate back at the beginning of 2014 just how bad things were going to get ... My crystal-ball was really foggy that day ... those days ...

[MichaelNZ]

Holy shit, how am I just now seeing this about the shit hitting the fan with PBMining? Oh, how many countless times had people accused PB of being a Ponzi scheme with never any real proof given of a legitimate mining operation? And most people usually mocked that accuser or insinuated they were just overtly paranoid...   Looks like they were right the whole time. Sad how many "cloud mining" operations turned out to be scams/Ponzis... it's hard to even think of a legitimate one. Bit-mining.co, Lunamine.com, PBMining.com, those are just a few off the top of my head in recent times.

From what I can tell, it definitely looks like MrTeal is the hero here- great job for releasing his identity and having the best interests of the community! And OP mentioned death threats? While I am not condoning anything, keep in mind that in some parts of the world you can have your hand cut off for stealing less than a $1 worth of merchandise....  and your trust ratings say you made off with around 400 BTC.

Unfortunately, it looks like the OP/PBMining hasn't been online here for about a month's time. I would just advise staying on it/him and not throwing in the towel if you lost money to this scam operation.

Good luck everybody.

You betcha 20 - 20 hindsight is a magnificent thing ... especially when it's applied now.

[Mabsark]

You betcha 20 - 20 hindsight is a magnificent thing ... especially when it's applied now.

You don't need hindsight, just common sense, something you clearly don't have. There is something drastically wrong with the well your thinking works, which makes you invest in all these scams despite getting ripped off all the time.Look at you bloody signature you idiot, you're advertising another ponzi.

[MichaelNZ]

You betcha 20 - 20 hindsight is a magnificent thing ... especially when it's applied now.

You don't need hindsight, just common sense, something you clearly don't have. There is something drastically wrong with the well your thinking works, which makes you invest in all these scams despite getting ripped off all the time.

Look at you bloody signature you idiot, you're advertising another ponzi.

Yeah, bloody oath my signature is another ponzi scheme ... I'll happily make some coin out of dumb fuckwits that want to invest in coindouble .. gimme gimme gimme ... Genesis Mining is for serious folks ... you one of them or just another full of piss and vinegar that wants to bag everything while you ... whatever it is you do ?

[tmfp]

I'll happily make some coin out of dumb fuckwits that want to invest