Recovery program beginning in January for PB Mining customers.

[chemikali]

https://pbs.twimg.com/profile_images/532027316822482944/SISs0mCo.jpeg

[MichaelNZ]

Ridiculously huge photo

Who is it in the photo ?

[Glucose]

anyone paid today?

Yeah, the usual dust. But I have to admit I'm quite surprise he continues paying (even if it's like 1% or less)... It probably represents several BTC per week..

[MichaelNZ]

anyone paid today?

yup, the now normal sprinkling of fairy dust !

[hussar]

hey guys just checking in as the "fairy dust" you refer to, stopped for me on jan 24. Has anyone else not received anything since then?

[alienesb]

hey guys just checking in as the "fairy dust" you refer to, stopped for me on jan 24. Has anyone else not received anything since then?

I got my last dusting on January 31st.

[MichaelNZ]

hey guys just checking in as the "fairy dust" you refer to, stopped for me on jan 24. Has anyone else not received anything since then?

I got my last dusting on January 31st.

I think there might be a lower limit on what gets paid out on or not ... Several people in here have mentioned not receiving payments for a week or two. But they only have low amounts of hashpower. That's the only reason I can think of.

How much hashpower have you got ?

[ajw7989]

I am still receiving this dust got it today as well. This is pathetic I love the nonexistent recovery programs' attempts.

[bitcoingrw]

PBM biggest thief in the history.,,

[clownius]

PBM biggest thief in the history.,,

Nah i think others hold that title

[bitcoingrw]

PBM biggest thief in the history.,,

Nah i think others hold that title

yes perhaps..but i'll say that PBM hold this title because i loss my 4.6BTC

[sifter]

Has anybody got a refund/recovery funds yet?

[galdur]

Haven´t got any dust or anything last two weekends so I guess it´s done. Loss 30% of outlay but some of it was reinvestments. Also what they paid went into my other investments. So, all in all it´s not such a big hit I guess. And I became much more cautious after this debacle and also more successful as those BTC investments go. So, it was a valuable lesson and a wake up call if you will.

[krle27]

Days past, no more interesting for pb minning.... everything is a dust...

[arallmuus]

Days past, no more interesting for pb minning.... everything is a dust...

its pretty hard to did a legal thing to this kind of operations anyway, im pretty surprised this pbmining things survive this long, i thought it could end at least at the middle of august

[|Bitcoin|]

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

[Glucose]

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

Lucky you. Trust me, don't give it a go even if PB comes back and pay back some customers.. . Try to avoid all ponzi in the future (I recommend you this thread : https://bitcointalk.org/index.php?topic=878387.0)

[GODLIKE]

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

Lucky you. Trust me, don't give it a go even if PB comes back and pay back some customers.. . Try to avoid all ponzi in the future (I recommend you this thread : https://bitcointalk.org/index.php?topic=878387.0)

I still got nothing back, he's just teasing and hoping some people send him more money.
I'm getting paid every week or two some 0.00006 BTC.
This is not really a ponzi.
It was like this: as the difficulty of mining was increasing, he could count on giving less and less money back to customers.
But he faced the wall when the increasing in difficulty stopped and went back.
He had to pay more to the customers but as he didn't really buy any infrastructure to mine, he was fucked up by the cloud mining services he himself used.
Ironically, if he invested those money for buying some mining hardware, he would have gone very well when the mining difficulty decreased.
I hope this piece of shit will spend all those money in doctors.

[Puppet]

This is not really a ponzi.

The common definition of a ponzi: a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.
That is precisely what you are describing. The reason you think PB was "not really" a ponzi is because you also (incorrectly) assume the plan was not to maximize ponzi profits, but actually pay out investors according to difficulty- which potentially could have worked. As in: heads I win, tails you lose.

The problem is that this was never even the plan. At least until one month prior to the collapse, the numbers clearly showed pb was still taking in more new revenue than it was paying out. So it didnt collapse because pb ran out of money, it collapsed because he ran out of new money,  he had maximized his profits.

IOW, it really was just a ponzi.

[GonnaGrinditout]

It's strange: they still pay but almost nothing...and they still sell contracts.