Topic: PB Mining -- 5 year mining contracts! - page 133. (Read 379008 times)

Let's say I want to buy 1TH/s of mining.

pbmining.com - Cost is 2.9BTC, with no other fees and 10% referral program

lunamine.com - Cost is 2.2056BTC + 0.0032USD per GH/s per day and 5% referral program
0.0032USD * 1000 * 7 * 52 = 1,164.80USD or ~2.0BTC at today's exchange rate for one year of fees.
So, lunamine is 2.20568BTC + ~2.0BTC or ~4.20BTC expenditure during the first year of mining.

On lunamine, it looks like it is a lifetime contract, but the odds of receiving any significant revenue after the first year is low, especially with their daily fees.  Pbmining looks like a much better deal, all things considered.

Did I do the math correctly?

You should do the math and figure it out.  Like look at other companies too like in my sig.  No hardware, that is one downside, but you have to look at difficulty and fees to see if it makes sense.

After 5yrs, Do I get my BTC2.9 back? Or will I only get my earnings from mining?
If I won't be getting my BTC2.9 back, will I have something to resell, like a mining hardware?

It varies by vendor, but in this case you are buying a 5 year mining contract.

I don't get this cloud mining 
So let's say I buy 1TH/s, that's worth BTC2.9 then I mine for 30 days. Then after that, I don't want to mine anymore.
Do I get my BTC2.9 back plus my earnings from mining??

Cex price is currently 0.00315, and pb is at 0.0029. How is that not competitive?

which is the next Price: 0.0022 BTC ??

THE CURRENT PRICE NO LONGER WITH COMPETITIVE CEX

When we get asked this it usually feels like somebody trying to pump a coin. 
At the moment I don't see any altcoins that have any sort of overall advantage over Bitcoin, so I don't see us taking a different direction with what we're already doing.  It seems that most altcoins are pump and dump schemes, are they not?

Scrypt ASIC is very risky investment imo, these coins are not as usefull as Bitcoin because hardly anyone using it and almost no merchant support. So you need hope the Scrypt altcoin price does not crash before you mine enought to be at least break even. The altcoin price is only backed by speculation imo, not real usage of the coins

When we get asked this it usually feels like somebody trying to pump a coin. 
At the moment I don't see any altcoins that have any sort of overall advantage over Bitcoin, so I don't see us taking a different direction with what we're already doing.  It seems that most altcoins are pump and dump schemes, are they not?

Hi Guys,

does anyone know if PBMining is planning to use mining power to mine other currencys like Peercoin and so on?
I think it would be very nice to decide for yourself what you want to mine.

Thanks in advance!

WantaDuff

I'm not sure I understand the question, but I think you're asking if it's possible for difficulty to decrease?

if so, the answer is yes, it's possible, and in time it's likely to happen, or at least level off. We're at the first major pause in a major technological arms race. It has slowed down considerably.

Technically speaking (well, referencing anyway), the network adjusts difficulty to maintain an average of ten minutes between blocks. If the hashpower goes down somewhat during the 2016 blocks between adjustments, then it will drop to make the times work out. I don't believe this has ever happened, definitely not in the two + years I've been involved in BTC. But it is technically possible, and as the diff rises, there will probably come a point where a bunch of older mining equipment is taken off line due to being too expensive to operate. During that period, it will probably drop a small amount or remain level. We've already seen a couple of difficulty adjustments under ten percent rise.

But there is also ongoing technological development, and many of us working to bring bitcoin and other cryptos to the mainstream, so don't expect it to decrease any time soon. I have used 15% per period as my middle case calculation for some time. It's never been accurate, but it has been close to the mean for some time.