PB Mining -- 5 year mining contracts! - page 164.

PBmining

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Quote from: TimS on June 14, 2014, 02:14:26 PM

Quote from: PBmining on June 11, 2014, 05:38:44 AM

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

I would dig through it for you, but I could also just summarize it in one word: privacy. If you don't like the lack of transparency, CEX.IO offers great service as well which may better suit your tastes. There is also the option of purchasing your own hardware, rather than cloud mining. Whichever you choose, best of luck to you.

psybits

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Activity: 1386

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Quote from: TimS on June 14, 2014, 02:14:26 PM

Quote from: PBmining on June 11, 2014, 05:38:44 AM

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

PB Mining has been going strong for me for a couple of months I've got no complaints.

TimS

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Activity: 250

Merit: 253

Quote from: PBmining on June 11, 2014, 05:38:44 AM

PB Mining will continue proving the skeptics wrong -- we have given our reasons as to why we don't publish certain information and we will lift our transparency when the time is right -- especially when we are big enough to start effectively solo mining.

For those of us who missed it and don't want to pore through 148 pages, could you refer me there?

Kashim

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Activity: 300

Merit: 250

best time to buy contracts atm

Steiny217

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Activity: 118

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Quote from: VJain on June 14, 2014, 11:58:15 AM

Since pay-day is coming up, can people who use the App please take note if everything updates correctly?

I just sent you a tip of 0.02BTC Great app! Can't wait to see what else ya do with it! Grin

VJain

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Activity: 305

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Since pay-day is coming up, can people who use the App please take note if everything updates correctly?

rodeoclownicp

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Activity: 252

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right now is an amazing time to buy contracts, you will be saving on the front end and if btc goes back up you will get it on both, this seems like a rare chance to get in at a great price... best of luck

http://pbmining.com?ref=rodeoclownicp

raskul

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Activity: 434

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i don't give a toss about your funny-money
1BTC = 1BTC and i'll spend it where and how i damn well like Cheesy

SlientBit

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Activity: 294

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Quote from: rodeoclownicp on June 14, 2014, 01:16:27 AM

Quote from: PilotofBTC on June 13, 2014, 05:36:33 PM

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

I've been one of those persons Grin

So far, I still think the best approach is to concentrate in BTC ROI - that's the first step, to check/guarantee that the investment is solid and gives profits (no matter how meager) in BTC. All posted empirical data point towards getting breakeven in BTC on the 4th month, per contract (this is important, 'cause if you have several contracts that aren't from the same day, total breakeven will always depend on the last contract's date)

Of course I also worry about profitability as a whole, and as such, I also keep track of ROI in fiat, but that is clearly a more difficult task - my current calculations point to somewhere between October and November in worst case scenario, if BTC/fiat prices remain within a 20% band from current rate.

And that's just why I keep focused on BTC-only ROI: I used cheap BTC (end of March throughout April) to buy the contracts I have with PB, and at current BTC/fiat rates, when I reach BTC breakeven, I'm already making profits in fiat

Of course, it'll all go down the drain if BTC takes a new dive, hence my 20% band calculations and worst case scenario choice.

Hope this helps clarifying my and some others view on ROI - and at least, the discussion can help us all to better take care of our crypto investments Wink

rodeoclownicp

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Activity: 252

Merit: 250

Quote from: PilotofBTC on June 13, 2014, 05:36:33 PM

Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

dead on, absolutely

i have heard some crazy things about only comparing btc to btc on this thread... but to people who dont realize how value is determined---(just an example to make a point)lets say a car is 10,000 or 20 btc(1btc=500 for examples sake) then btc rises to where 1btc=10,000. would you still pay 20 btc for it?? if its true with larger numbers its true for smaller ones... btc roi and roi can be differnt

PilotofBTC

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Activity: 1736

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Hmm.. if you don't calculate things with math, how do you calculate them?

And to claim USD has nothing to do with it (your return) doesn't make sense. The value of Bitcoin, at least today can only be compared to Fiat. Perhaps in 20 years that won't be the case.

All BTC has been obtained with some fiat. Whether it was bought or mined, there was a USD cost to obtain it. To ignore that seems a fallacy to me.

rodeoclownicp

sr. member

Activity: 252

Merit: 250

Quote from: PilotofBTC on June 13, 2014, 11:00:09 AM

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

ya know to compare your self to those who have roi you would need to know there gh price than lower buying price by the same percentage of dificulty increase if the price drop is not equal to dificulty rise then your paying more per gh than those who have roi.. so as time goes on quality of investment goes down... for instance moving price .0041 to .0040 is a 2.4% drop.. pb usually hits it twice near difficulty changes, i do not feel like doing a bunch of simple yet time consuming math but i think the price verse dificulty increase is about 5% difference ... keep in mind percentages do not add together...so the early bird did get the worm but right now is the time to convert cash to btc to buy a contract...lets say some one bought 3 months ago and roi...btc would only have to rise 25% to be on par with them if btc rises and you didnt convert usd to btc the 25% (125usd)rise is meaningless(the rise is an assumption) and you will not benefit.. if you use btc u already have ignore the benifit as well - there would be no upside

damiano

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Activity: 1246

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103 days, 21 hours and 10 minutes.

Quote from: PilotofBTC on June 13, 2014, 11:00:09 AM

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

This is exactly how I am feeling and another question (most important) is, Will PB mining be around 5 years from now?

n2004al

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Activity: 1134

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Quote from: tuanvie on June 13, 2014, 11:06:06 AM

pbmining income is getting smaller,
what because the higher the diff?

Sure. It will be smaller and more smaller in time.

tuanvie

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Activity: 448

Merit: 250

pbmining income is getting smaller,
what because the higher the diff?

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: PilotofBTC on June 13, 2014, 11:00:09 AM

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

Confirm. Break even in about 3.5 - 4 months. It is my case. It is not a fixed period because I bought my gh/s three times in an interval of 20-25 days. So after about 4 months from my firsts gh/s I had all my invested bitcoin and the next Sunday I will be in profit.

PilotofBTC

legendary

Activity: 1736

Merit: 1001

I plugged some numbers into that calculator. Problem is, it is very dependent on difficulty increase.

Assuming a purchase of 100 GHS at current pbmining and btc value would be $235.

$235 at 10% interest (if you can get it) compounded annually for 3 years is 344.06.

(3 years is the most full years the BTC calculator would give me)

Per the bitcoin calculator assuming a 10% difficulty increase the return in BTC is .1921 or $113.41. (a loss)

So, compared to investing the cash it's a loss. But, can you get 10% annual return on your money?

Will the value of bitcoin be the same in 3 years as it is today?

But, that calculator shows EVERY miner (you chose at the top of the page) is going to lose you money at a 13% difficulty increase with $0 electric cost and $0 pool fee. How can that be right? If that was the case, no one would be mining.

So, I'm not sure how accurate the calculator is. Who knows. I can only go by my actual earnings and those of others that say they are break even in about 3 months and everything after that is profit.

rodeoclownicp

sr. member

Activity: 252

Merit: 250

Quote from: jonsi on June 13, 2014, 04:03:00 AM

Quote from: rodeoclownicp on June 13, 2014, 02:30:08 AM

Quote from: PilotofBTC on June 12, 2014, 03:24:14 PM

Quote from: byt411 on June 12, 2014, 02:49:52 PM

Haha, you really should remove butterfly labs from that. Also, ROI is definitely possible within 5 years.

Yes, it seems like ROI in the crypto world assumes everyone should be able to buy a coin for $2 and have it be worth $600 3 years later.

If you can earn 10% per year, that is a very high return. $100k will become $259k in 10 years.

I don't know how much that $2.5 (a number that has been mentioned by someone many times) will be worth in 5 years at PB mining. But, I expect it will be more than $4.03, which is 10% compounded annually for 5 years.

pick any numbers you want and just check the magnitude- year 3,4,5 wont count... ROI in the red can happen from buy conversion or btc value increase- is there a calculator with a derivative for difficulty increases?

Yes it is: https://bitcoinwisdom.com/bitcoin/calculator

great calculator but all i see is a setting for dificulty increase ( there is no way to set a rate of the percentage) i guess you could just count the first three numbers change the starting date calculate the new dificulty yourself and then repeat every three results or so for accuracy - pain in the ass - but that is the best calc so far

jonsi

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Activity: 1397

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Quote from: rodeoclownicp on June 13, 2014, 02:30:08 AM

Quote from: PilotofBTC on June 12, 2014, 03:24:14 PM

Quote from: byt411 on June 12, 2014, 02:49:52 PM

Haha, you really should remove butterfly labs from that. Also, ROI is definitely possible within 5 years.

Yes, it seems like ROI in the crypto world assumes everyone should be able to buy a coin for $2 and have it be worth $600 3 years later.

If you can earn 10% per year, that is a very high return. $100k will become $259k in 10 years.

I don't know how much that $2.5 (a number that has been mentioned by someone many times) will be worth in 5 years at PB mining. But, I expect it will be more than $4.03, which is 10% compounded annually for 5 years.

pick any numbers you want and just check the magnitude- year 3,4,5 wont count... ROI in the red can happen from buy conversion or btc value increase- is there a calculator with a derivative for difficulty increases?

Yes it is: https://bitcoinwisdom.com/bitcoin/calculator

rodeoclownicp

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Activity: 252

Merit: 250

Quote from: PilotofBTC on June 12, 2014, 03:24:14 PM

Quote from: byt411 on June 12, 2014, 02:49:52 PM

Haha, you really should remove butterfly labs from that. Also, ROI is definitely possible within 5 years.

Yes, it seems like ROI in the crypto world assumes everyone should be able to buy a coin for $2 and have it be worth $600 3 years later.

If you can earn 10% per year, that is a very high return. $100k will become $259k in 10 years.

I don't know how much that $2.5 (a number that has been mentioned by someone many times) will be worth in 5 years at PB mining. But, I expect it will be more than $4.03, which is 10% compounded annually for 5 years.

pick any numbers you want and just check the magnitude- year 3,4,5 wont count... ROI in the red can happen from buy conversion or btc value increase- is there a calculator with a derivative for difficulty increases?

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