Is cloud mining with PBmining.com profitable ??? - page 3.

CEG5952

hero member

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Buy and sell bitcoins,

Quote from: junshong on June 01, 2014, 12:13:58 AM

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.

junshong

full member

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Hi!

They didn't prove that they physically own the hardware, possible ponzi scam.

acs267

hero member

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Merit: 500

Quote from: odolvlobo on May 31, 2014, 09:54:38 PM

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.

odolvlobo

legendary

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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.

acs267

hero member

Activity: 644

Merit: 500

Quote from: wasserman99 on May 31, 2014, 06:58:12 PM

Quote from: byt411 on May 31, 2014, 06:56:03 PM

Quote from: wasserman99 on May 31, 2014, 06:53:44 PM

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.

harlenadler

sr. member

Activity: 430

Merit: 250

Agent of Chaos

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.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: byt411 on May 31, 2014, 06:56:03 PM

Quote from: wasserman99 on May 31, 2014, 06:53:44 PM

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.

byt411

hero member

Activity: 798

Merit: 1000

Quote from: wasserman99 on May 31, 2014, 06:53:44 PM

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.

wasserman99

sr. member

Activity: 476

Merit: 250

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....

byt411

hero member

Activity: 798

Merit: 1000

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

crunck

legendary

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crunck

I saw few posters commenting about it being a ponzi-like and not about actual mining.

dannyrayat

newbie

Activity: 21

Merit: 0

thats a huge talk out there .... Shocked

brand

newbie

Activity: 55

Merit: 0

I`m not sure. I`m in the same boat as you.

I saw this thread https://bitcointalk.org/index.php?topic=484355.320

And made me debate and question a few things.

dannyrayat

newbie

Activity: 21

Merit: 0

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. Huh

Please share your views! Roll Eyes

Thanks
Danny

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