Topic: PB Mining -- 5 year mining contracts! - page 105. (Read 378920 times)

Yes! It's not a single pool... Also blockchain.info isn't all that accurate but that's another thing.

Currently "unknown" pool is hashing with 21% of the total power. It's probably a collection of several mining services combined?

They don't even need to demonstrate the hardware, they just need to demonstrate the 2.7PH/s of hashpower they have. That much power is pretty apparent on the network, it's about the same amount as  Bitminter or P2Pool. Where are the blocks?
https://blockchain.info/blocks/CloudHashing
https://blockchain.info/blocks/KnCMiner
https://blockchain.info/blocks/Unknown%20with%201BX5YoL%20Address (Cointerra)

He's saying the offer is too good. Right now they are charging $0.60 per GH/s for a 5 year "guaranteed" contract. Out of that, they have to pay
1. Capital cost of the equipment
2. Capital cost of the facility its housed in
3. Maintenance and replacement of failures for 5 years
4. Power for 5 years
5. A normal profit

Just look at the power cost: Even if they somehow average 0.2J/GH/s over that time (3.5x better than anything on the market) and pay $0.04/kWh, that's 8.76kWh and $0.35 in power. Equipment costs are similar, even in bulk that's another $0.30/GH/s. That's just the initial investment in equipment, it says nothing of the additional investment needed to keep pace with efficiency.
If they are doing what they claim which is actually operating the hashrate they're selling, there's no way they can do so and still make money. If they actually are in Saskatchewan as they claim, the numbers are even worse as you won't get power anywhere close to $0.04/kWh.

Spondoolies charges $0.653/GH/s for hardware (with November delivery) and $0.20/GH/s for 3 months of hosting
KnC charges $0.6225/GH/s, for 6 months of cloud mining
Cointerra charges between $1.75(for a $3500 order) and $1(for a $1M order) per GH/s for a 12 month contract, and it doesn't start hashing until the new year.
Hashnest currently sells for 0.001125฿/GH/s, but they only pay out profits after expenses are paid, and will close the mine if expenses >  income.

All of those entities also make their own ASICs and have demonstrated multiple PH/s of gear where they would be getting the lowest possible prices. All of them charge considerably more than PB Mining. You could say they are gouging people, but if is deal is too good to be true it probably is. That's doubly true when they claim to be powering over 1% of the network, but have never demonstrate any mining equipment or mining revenue, but have demonstrated repeatedly paying dividends with incoming customer money.

Do you actually know what PBmining offers ?

They sell contracts that let you mine for five whole years, the prices are normal for the kind of product they offer.

The proof is that people are getting their payments every week, and this since January.

LOL, what's wrong with the prices? They're extremely reasonable...

With those prices theres definitely something funny going on. Im not putting money into this until theres some proof

What about proof of the mining that is going on?

I like this one.  When he posted this it was Wednesday.  Our support is faster than most, I thought.  Just not fast enough!   

Not what some ppl are saying

So far pbmining hasn´t missed any payouts if I remember correctly.

You buy a 5 year mining contract and get the payouts from the hashing amount you purchased.
The contract is all-inclusive, no additional fees apply.

weird I purchased some gh Monday morning EST and it went through in an hour or two. Hopefully PBmining gets back to you they are usually pretty good. Did you try pming them on this forum?

Purchased 500GH/s on Monday at around 9pm PST. Still hasn't been added on, the contract has disappeared from my page.

I emailed PBMining on Tuesday and still no response.

Well, there goes 25% of my earnings for the period -_-.

Yea! Just looked at my wallet, and in US$ I am a bit above 100% return on investment, or "at ROI" as people colloquially like to say. Bought first contract May 10, 2014 and my second June 10, 2014. I've probably broken even in BTC before that due to the US$ price differential. I did get one small referral so that helped a bit.

But, I will start rolling 100% of my payouts back into contracts now. I wish PM Mining has a way to do this automatically.

Woot! Ain't this fun.

Hey pbmining admin,

are you starting to take fees from our contracts?

In your site, it says
"At Piggyback Mining, we cover the electricity costs and all pool fees." And you promise that, there is no other fees, no recurring cost etc..

till yesterday, there is no fees, in our contracts, but when i double-checked the stats in the global page, it seems that, there is at least 2% fees, in rewards, since yesterday..

is there a problem, or is there a new hidden fee in effect? i hope it is some kind of mathematical problem, and will be fixed soon..


For sure, i will check all the users global stats for 24 hours..

Perfect thank you for making it clear:)

Ofc, you can buy as many contracts as you want under the same account.

for example:
-you buy your first contratc 30 ghs
-you buy a second  contract 20 ghs

so now under your account you have 50 ghs ( will appear the both contratcs )

btw you will be welcome to our pbmining family