Topic: PB Mining -- 5 year mining contracts! - page 130. (Read 378920 times)

Who's asking them to go public?

We just want pics/videos of the mine.

Practically every other megamine takes the time to show off some pics but pbmining refuses.

They spend several btc weekly on advertising targeted towards noobs. Why not save the money and just take a pic or two and you will guarantee 50% extra customers (guessing 50% think its a ponzi. Could be much more)

We also want to know a mining address.

There has never been a legit mining operation offered to the public which refuses to publish the address they are mining with other than pbmining and the other ponzis.

The coin mixing just puts the icing on the cake. I haven't even heard an excuse explaining the obfuscation from pbmining apologists.

It's quite sad that the pbmining users are forced to make up hypothetical situations where pbmining could possibly be real.

Please just stop advocating for something that is almost guaranteed to be a ponzi.

Everyone here should be demanding they take the basic steps to prove they are legit but as long as naive investonomers keep spamming referral links and giving them advertising money, nothing will change.

Bitcoin is cheap right now , think i´ll add some piggies soon ^^

That's also the only thing that bothers me, but I doubt that's going to change. This grew from probably a garage operation into something quite large, by a man who figured it could all backfire somehow and seeing the insane reactions here by some total wacko's the best thing is to stay underground. Since then the idiocy displayed by some has only grown bigger and bigger and I've seen nothing less then the virtual equivalence of hanging mobs. Totally disgusting. I don't believe PBMining will go public. Not with the owner having to turn from "hidden is best" to "out in the open", while general idiocy has grown bigger then ever. Not in constantly changing attitude of governments which makes things legally awkward. Out in the open, at best, will be a (virtual?!) address in some tax paradise where lawmakers don't deliberately try to discourage coin businesses. Out in the open in Canada would instantly mean total destruction of profitability for all, so be glad.

This.
I've been on this thread since about a month after they launched, and a customer since March. I've spoken privately with them, and I've read everything they posted. At one time they DID have the Eligius address they mined at, and got trouble at home. They were a small operation. What they DID say is that they had moved the majority of their mining to another country. Iceland was NOT specified, though it'd be a good bet.

Ponzis collapse far faster than this. They might be investing in something other than mining and paying out (possibly), but it's not likely. The business model that I had speculated on previously still makes the most sense, and while they didn't confirm it, they did say I was on the right track. For those that don't want to go back through the thread, I'll put a short version of it here, again.

What I believe they have done, right from the outset, is sell approximately HALF the hashpower they had available. They then use that to buy more equipment, and again, sell HALF. This covers them for the long term, as they will always be building twice as much as they are selling. It capitalizes the growth of their farm, guarantees their profit in BTC and allows them to cover truly massive difficulty leaps until it stabilizes. It's a good model.

Again, I do NOT know this to be their actual operation, but it's the way I would do it. My only beef, is that at this point they have grown large enough that they could drop some of the veil of secrecy and show actual mining addresses if they chose without major repercussion. They could easily establish enough corporate veil to keep the curiousity seekers and the criminals on the other side of the gate at this point. I wish they would do so, if for nothing else to end this constant discussion of ponzi schemes.

I read this whole thread last week, and I never saw any mention of Iceland.  I just searched for "Iceland," and the first mention of it is less than 48 hours ago.

It's my understanding that the company is still in Canada, but most of the mining operations are no longer in the country.

i've read about this too, it's around some months ago that they move to Iceland (before that, they were in Canada)
they said this statement in this thread. if some users read this thread constantly, he will know this statement too

If anyone wonders why I care so much and have repeatedly pointed out this obvious ponzi is a ponzi, it's because stupid scams like this harm us all.

It mostly preys on noobs (along with a few who should know better)

The owner is involved in the bitcoin mining world so he can talk the talk when needed.

But when the ponzi collapses, all you noobs are gonna go running to law enforcement demanding recompense, and you'll tell everyone you know that bitcoin was a scam, that you were mining and you were robbed.

Ponzis like this are bad for the long term future of bitcoin, and the more people that realise that the better.

tl:dr when you lose your money don't blame bitcoin, blame your stupid greed.

Gavin Andresen Suspects Ponzis in Bitcoin Cloud Mining

 

http://www.cryptocoinsnews.com/news/gavin-andresen-suspects-ponzi-schemes-bitcoin-cloud-mining/2014/08/14

Bitcoin Difficulty:    19,729,645,941
Estimated Next Difficulty:    23,549,099,327 (+19.36%)

In 14 days.
AHAAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHHAH

It could be that they're already maxi merged mining, like GHash.io does. And use that as extra profit to pay for electricity

because I'm a newbie, so forget about the withdrawal fee. I hope pbmining ignore me one this time

Don't worry, they'll get back to you within 24 hours. It can be resolved easily.

I have contacted and thank you. Do you think my case is resolved?

I suggest you contact [email protected], that's the quickest way to get your issue resolved.

I apologize about fee btc-e charge unless it was 0001 so it's to your account only 0.38182725. Could you help me and flashed me oder active. I am deeply grateful to you. Thank you
 https://blockchain.info/tx/a5accbd96f22ae75f30d0788e14b0a912aaabb2e590696b696c71963c615f0da
Pending Orders
Order Number   Total Price   Quantity   Order Date   Status   Options
2836113062025    0.38282725   132   13-08-2014   New   Cancel   Finalize
user: lenhi426
Thank admin

They said they were from Canada, and that's basically eat. Perhaps you remembered wrong, or you got confused with something else.
Unless you actually find proof, its just an empty accusation.

They originally said they were in Canada, they moved it to Iceland. I didn't screenshot their lies.

if you think its a ponzi don't invest simple. 5 page essay of you writing about it, not going to read it

Ummm... Where does it say that they originally had their mine in Canada, and then moved it to Iceland? If you don't have proof, please don't spread fud.

They originally said they were in Canada, then when Canada said something or other legal about bitcoin mining they magically and overnight moved their entire ponzi mining operation to Iceland.

It's pretty impressive tbh