PB Mining -- 5 year mining contracts! - page 165.

jonsi

legendary

Activity: 1397

Merit: 1019

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

sr. member

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?

PilotofBTC

legendary

Activity: 1736

Merit: 1001

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.

byt411

hero member

Activity: 798

Merit: 1000

Quote from: PBmining on June 12, 2014, 02:46:10 PM

Quote from: damiano on June 12, 2014, 02:18:36 PM

I'm running the numbers several different ways and I cant see a reason to purchase this?

ROI doesnt seem possible, or am i missing something?

We simply buy hardware for X amount, and host it for (X + profit margin + estimated costs).
Difficulty is (seemingly) impossible to predict, but if you have a method then you already have an edge on the industry!
Perhaps purchasing your own hardware would be a better choice for you.
Here are some links if you're interested in purchasing your own hardware:

http://ebay.com
http://cointerra.com
https://kncminer.com
https://twitter.com/RockMinerInc
http://http://www.spondoolies-tech.com/
http://dragon-miner.com/
http://http://www.butterflylabs.com/

If Bitcoin mining still seems unprofitable with these other options when you compare them to your predictions of difficulty changes, you are always welcome to just buy BTC and just hold, which is a common strategy as well. You could also sell BTC if you think it's going to go down.
Whatever you decide to do, best of luck to you!

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

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: damiano on June 12, 2014, 02:18:36 PM

I'm running the numbers several different ways and I cant see a reason to purchase this?

ROI doesnt seem possible, or am i missing something?

We simply buy hardware for X amount, and host it for (X + profit margin + estimated costs).
Difficulty is (seemingly) impossible to predict, but if you have a method then you already have an edge on the industry!
Perhaps purchasing your own hardware would be a better choice for you.
Here are some links if you're interested in purchasing your own hardware:

http://ebay.com
http://cointerra.com
https://kncminer.com
https://twitter.com/RockMinerInc
http://http://www.spondoolies-tech.com/
http://dragon-miner.com/
http://http://www.butterflylabs.com/

If Bitcoin mining still seems unprofitable with these other options when you compare them to your predictions of difficulty changes, you are always welcome to just buy BTC and just hold, which is a common strategy as well. You could also sell BTC if you think it's going to go down.
Whatever you decide to do, best of luck to you!

VJain

sr. member

Activity: 305

Merit: 250

Quote from: damiano on June 12, 2014, 02:18:36 PM

I'm running the numbers several different ways and I cant see a reason to purchase this?

ROI doesnt seem possible, or am i missing something?

ROI is possible, depending on the difficulty increase. If the difficulty increase (over a period of time) is 14% or LESS, you will ROI. I have broken even on my first contract. In my next major release, there will be a calculator for profitability (basically the same features as Bitcoin Wisdom, and a few others).

Shameless Referral Link http://pbmining.com?ref=VJain
Android App for PBMining (Unofficial) - Shameless App Link

App Update:
I CANNOT integrate purchasing of contracts, or logging in, at the moment in a "secure" fashion. I'd need to either
1. Send your passwords to my middle-man server to buy contracts OR
2. Wait for the Dev's at PBMining to enable some sort of API or CORS Whitelisting.

Only major features now on the list are
1. Notifications
2. Calculator
3. Global Stats... cause why not?

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

I'm running the numbers several different ways and I cant see a reason to purchase this?

ROI doesnt seem possible, or am i missing something?

ChekaZ

legendary

Activity: 1884

Merit: 1005

Quote from: VJain on June 11, 2014, 06:49:08 PM

I'll post this every few pages or so (since the only marketing of this app is this thread Tongue

)

Android App for PBMining (Unofficial) - https://play.google.com/store/apps/details?id=com.coniform.pbmin

Thanks for this great application!

byt411

hero member

Activity: 798

Merit: 1000

Quote from: MICRO on June 12, 2014, 08:07:49 AM

Quote from: rodeoclownicp on June 12, 2014, 08:05:52 AM

Quote from: nabeel1992 on June 12, 2014, 07:43:20 AM

Quote from: jonsi on June 11, 2014, 04:15:22 AM

Spondoolies Tech seems to indicate that PBmining it's a ponzi:

Quote from: Guy Corem on June 11, 2014, 01:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

quoted from https://bitcointalksearch.org/topic/havelockcbcm-sha-256-mine-ipo-cancelled-647360.

i am also confused with their low rates.No one can provide this service on these rates.it looks like a ponzi or hyip

low rates?? its over 2.5usd per gh??? relative speaking low, but per gh with the eficiency of buying power and 28nm..no

U cant get lower if u buy ASIC, when u account everything in. This is rly cheep.

Wow... It's 4 more cents than 2.5 USD! Let's go ahead and spam and troll saying that it's expensive!
Seriously, please shut up. If you can't afford it and can't calculate when you will ROI, then don't buy. It's as simple as that.
If you think it's too expensive, buy hardware and suffer the electricity costs. Don't take the advantages of cloud mining.

MICRO

legendary

Activity: 2464

Merit: 1037

CEO @ Stake.com and Primedice.com

Quote from: rodeoclownicp on June 12, 2014, 08:05:52 AM

Quote from: nabeel1992 on June 12, 2014, 07:43:20 AM

Quote from: jonsi on June 11, 2014, 04:15:22 AM

Spondoolies Tech seems to indicate that PBmining it's a ponzi:

Quote from: Guy Corem on June 11, 2014, 01:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

quoted from https://bitcointalksearch.org/topic/havelockcbcm-sha-256-mine-ipo-cancelled-647360.

i am also confused with their low rates.No one can provide this service on these rates.it looks like a ponzi or hyip

low rates?? its over 2.5usd per gh??? relative speaking low, but per gh with the eficiency of buying power and 28nm..no

U cant get lower if u buy ASIC, when u account everything in. This is rly cheep.

rodeoclownicp

sr. member

Activity: 252

Merit: 250

Quote from: nabeel1992 on June 12, 2014, 07:43:20 AM

Quote from: jonsi on June 11, 2014, 04:15:22 AM

Spondoolies Tech seems to indicate that PBmining it's a ponzi:

Quote from: Guy Corem on June 11, 2014, 01:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

quoted from https://bitcointalksearch.org/topic/havelockcbcm-sha-256-mine-ipo-cancelled-647360.

i am also confused with their low rates.No one can provide this service on these rates.it looks like a ponzi or hyip

low rates?? its over 2.5usd per gh??? relative speaking low, but per gh with the eficiency of buying power and 28nm..no

nabeel1992

newbie

Activity: 25

Merit: 0

Quote from: jonsi on June 11, 2014, 04:15:22 AM

Spondoolies Tech seems to indicate that PBmining it's a ponzi:

Quote from: Guy Corem on June 11, 2014, 01:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

quoted from https://bitcointalksearch.org/topic/havelockcbcm-sha-256-mine-ipo-cancelled-647360.

i am also confused with their low rates.No one can provide this service on these rates.it looks like a ponzi or hyip

rodeoclownicp

sr. member

Activity: 252

Merit: 250

Quote from: jonsi on June 11, 2014, 04:15:22 AM

Spondoolies Tech seems to indicate that PBmining it's a ponzi:

Quote from: Guy Corem on June 11, 2014, 01:08:46 AM

This is not endorsement to buy CBCM, but I look at PBMINING cost. The electricity alone for 5 years cost a lot more than the contract cost per $/GHs
Either it is a pyramid or they expect to replace with new hardware at an unrealistic rate. Do the math.

Guy

quoted from https://bitcointalksearch.org/topic/havelockcbcm-sha-256-mine-ipo-cancelled-647360.

i am not for or against spooning but i hear this thing about electricity all the time- it is so dumb- if electric costs more than the mining you just pay out the mining - will there be more btc machines within the next 5 years - you bet, but it is not necessary for pb to even invest in them... just run the numbers , year5 wont add up to 1 btc for every single customer, pb just hast to match apples to apples, also you dont even need to make back all your btc for a profit.... if the value of btc goes up you can be read in btc but black in cash

Biomech

legendary

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: kyma on June 10, 2014, 11:54:03 AM

thanks for the responses! ...I was lining up some BTC for a bit more GH so I was a bit upset that there aren't any contracts for sale at the moment. Sounds like this wont be an issue for very long

Early on, they oversold. I wasn't a customer then, but it caused them a lot of grief. Since then they have been pretty careful. Usually, they have more available in a day or two. Longest I saw it go was, I think, four days. Don't hold me to that, I'm going off of an aging brain's memory Cheesy

I don't know what equipment they run, but judging by their turnaround time, I'd guess a combination of ants and dragons. If they smart, they are also buying Spondoolies.

Y'all should too

Anyway, I remain very happy with pbmining. Like all of you who bought, I made ROI within a few hours. Despite rumours to the contrary. It took me a bit longer to break even. Yes, it's a pet peeve, but this is a very technical community. Use the term you mean. ROI is return ON investment, not return OF investment. ROI can be positive or negative, but if you made an investment and it returns you anything at all, you made an ROI. The term y'all should be using is breakeven. The point at which your ROI becomes positive.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: BitBoy900 on June 11, 2014, 04:14:43 PM

I see PB Mining has created a couple of haters that wants the same customers PB has.
You guys keep trying to endorse bullshit companies that over charge people with no possibility
of ROI if there is an ROI. These guys are so jealous because their business is going down the
tube and they don't know what to do. It's like this from what I see PB is the best choice to
take next to buying your own miners. If you don't like PB don't come on this thread trolling.
And lets say PB does get audited and goes down what makes you think I will invest in the
crappy service that over charges and takes 5 to 6 months to get at least your money back.
For me things been going good since March and I'm able to invest into other opportunities'
for mining crypto currencies. In a ponzi scheme everyone doesn't see the money and if
PB is a ponzi that means bitcoin is a ponzi. Some people will always be retarded. Even
if PB goes down today I made the money I invested back already.

Cool

There is always a chance they turn out to be a Ponzi. As time goes by it is less and less likely but not impossible.

VJain

sr. member

Activity: 305

Merit: 250

I'll post this every few pages or so (since the only marketing of this app is this thread Tongue

)

Android App for PBMining (Unofficial) - https://play.google.com/store/apps/details?id=com.coniform.pbmin

ChekaZ

legendary

Activity: 1884

Merit: 1005

Iam really satisfied with PBmining, bought 200gh.

I had a few issues in the beginning which were cleared by email with the admin.

So I have recommended it to some friends which also bought some hashes, keep on the great work!

BitBoy900

newbie

Activity: 54

Merit: 0

I see PB Mining has created a couple of haters that wants the same customers PB has.
You guys keep trying to endorse bullshit companies that over charge people with no possibility
of ROI if there is an ROI. These guys are so jealous because their business is going down the
tube and they don't know what to do. It's like this from what I see PB is the best choice to
take next to buying your own miners. If you don't like PB don't come on this thread trolling.
And lets say PB does get audited and goes down what makes you think I will invest in the
crappy service that over charges and takes 5 to 6 months to get at least your money back.
For me things been going good since March and I'm able to invest into other opportunities'
for mining crypto currencies. In a ponzi scheme everyone doesn't see the money and if
PB is a ponzi that means bitcoin is a ponzi. Some people will always be retarded. Even
if PB goes down today I made the money I invested back already.

Cool

tprogex

member

Activity: 104

Merit: 10

Quote from: VJain on June 11, 2014, 11:24:52 AM

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

"This is not endorsement to buy CBCM...."

It's funny he says that, because that is exactly what he is doing. They're partners.

From CBCM:

Quote

"For the moment we are in business relations with Spondoolies-Tech (I am not authorized to disclose details of the agreement)."

Also, I have had a few e-mail discussions with Gadi from Spondoolies back in April. We were actually looking into purchasing hardware from them and then decided not to because the price wasn't right. Could this be a sour taste left in their mouths? Possibly.

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. You can be sure of one thing -- PB Mining is here to stay. Nobody will take us down, and our customers will always be #1. We will continue proving this for years to come, and customers who trust us are being heavily rewarded. We are constantly hassled as to why our prices are low, but they are exactly where they should be. Our own profit margin is tight and that is the only way that the consumer has a chance to make a positive ROI in this business.

Our new motto: We aren't going anywhere. Get over it.

Maybe get audited by a reputable member of the community or external organization? That would go a pretty long way.

Agree some audit will allow to invest more bold, not now may be in near future.

VJain

sr. member

Activity: 305

Merit: 250

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

"This is not endorsement to buy CBCM...."

It's funny he says that, because that is exactly what he is doing. They're partners.

From CBCM:

Quote

"For the moment we are in business relations with Spondoolies-Tech (I am not authorized to disclose details of the agreement)."

Also, I have had a few e-mail discussions with Gadi from Spondoolies back in April. We were actually looking into purchasing hardware from them and then decided not to because the price wasn't right. Could this be a sour taste left in their mouths? Possibly.

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. You can be sure of one thing -- PB Mining is here to stay. Nobody will take us down, and our customers will always be #1. We will continue proving this for years to come, and customers who trust us are being heavily rewarded. We are constantly hassled as to why our prices are low, but they are exactly where they should be. Our own profit margin is tight and that is the only way that the consumer has a chance to make a positive ROI in this business.

Our new motto: We aren't going anywhere. Get over it.

Maybe get audited by a reputable member of the community or external organization? That would go a pretty long way.

Topic: PB Mining -- 5 year mining contracts! - page 165. (Read 378920 times)