Topic: PB Mining -- 5 year mining contracts! - page 214. (Read 378921 times)

Nothing, just my rambling just a twisted way to point to the "bio" part of my argument, not really an actual connection

Biomech has admitted elsewhere his profitability comes from referrals.
It's obvious he's just pushing PB to increase his referral income.

The rest of your post is entirely irrelevant to the issues at hand.

Guys, this is becoming tiresome

Nobody (almost ) knows what PB is doing or using for power source, so all those models could simply be way off track.
Some of you can't seem to even acknowledge the very wide electricity producing methods and choices out there, for gods sake!

It doesn't take that much to power to keep a couple hundreds TH/s running - it's all to feasible with small scale solar or wind solutions, not to mention natural occurring geothermal advantages some locations have and ... to say the least, bio-gas! Either from pig shit or any other form of farm-related waste that can be treated and used to mass produce electricity.

Have wondered why a guy with the handle "Biomech" seems to have some insights??
Any clues from the fact PB seems to be rather fond of pigs??

PB could actually be saving a lot of real dollars (Canadian) on waste treatment and disposal - and even making some extra money by undertaking it's neighborhoods waste in!
And has they do, they get even more power capability, hence sustaining the growth and the business model.

Making the investment in Bitcoin mining hardware and using dirt cheap power to run them might just well be another revenue stream (and maybe not even the most profitable one)

Please don't troll about profitability any longer - you simply don't have the facts.
If you don't believe it, don't use it. Plain and simple.
But don't come around pretending to be a knight in a crusade against evil-doers, please. Nobody here is innocent and dumb enough for it.
The discussion is healthy only as long as it remains relevant - some of it isn't, already.

Cheers

The blocks they mine show up on the blockchain is what makes their farm legit.
It seems you're rather uninformed on the subject. Which makes it really regrettable you chose to invest money with a service you don't understand.

While any site at any time may take the money and run, there are several simple tests that prove they provide at least the service they claim to.
CEX provides full transparency on the blocks they mined and how much you got paid from each block.
All of that can be verified on the blockchain.

And that's exactly what pbmining is refusing to do. Provide simple verifiable proof they actually mine bitcoin.
And that's why pbmining is widely considered a scam.


Now, before people invest with CEX or bring up the high price per GHS.
It's a very different service and you should expect to make profit out of trading GHS, not primarily through the mining rewards.
The mining rewards are easier to be seen as being paid interest on holding GHS.

But their transparency is an example of how a mining service should be run.


We're not asking for pbmining to disclose where they live and sleep. Although a business address is very much preferred over than anonymity, there is the slightest chance their concerns regarding their safety is valid.
All we're asking for is simple transparency in their mining operation by disclosing information which is entirely unrelated to their identity and in no way would reveal their identity.
Failing to provide this trivial and non-identifying information is the biggest red flag in their entire operation. And that's why a good number of forum posters have repeatedly warned people to not use this service.

Take this for what it's worth, because I gave my word to not reveal everything I've been told.

But I am completely satisfied that they are indeed mining, and I've a good idea what their model is. I did NOT specifically verify the model I'm proposing here, but they did say I was on the right track. This addresses the electricity angle as well. I now personally know who the people behind PBmining are. I gave my word, so will not reveal that. They feel, and I agree, that due to the small size of their operation and the large probability of being attacked by hackers and other ne'er-do-wells that they have a large security risk by being public. They are indeed mining. It is my thought, again this part is unverified, that they are purchasing somewhere in the neighborhood of twice the hashpower that they sell. This gives them a good margin and a good profit above the costs of operation, thus the ability to sustain. The model being sell enough to keep ahead of the difficulty curve and purchase new and better hardware as necessary and possible. They are running a decent sized farm. If you do the math, even if they are only purchasing 125% of what they resell, they are able to keep ahead of the electricity/difficulty curve and continually expand. This also allows them to turn off or retarget obsolete hardware as it becomes unprofitable while still maintaining the contracts as stated.

Of course, you have little better idea of who I am than you do of them, though my real identity is known to the forum. Nevertheless, I am certain they are the real deal, and I will continue to both buy from them and promote their service.

Come to me my piggies!!!

Edit: Due to the Chuck Norris comments earlier, thought I'd clarify. That is me in the avatar, though I cut off my hair and regrew it since then. It's not blonde without a bottle, so I look a bit different right now I don't see the resemblence, personally, but I sure won't be offended by the comparison! Chuck might, though.

I'm sorry but trawling through 960 responses for a very specific point seems rather over zealous. Unlike many others I do not have unlimited time to read through what is mostly of uninformative substance.

Of course it's my choice - no one ever said it wasn't. Doesn't mean I am not allowed to ask for further information.

Cex is irrelevant - I have not mentioned Cex once. I am evaluating PBmining based on its merits and solely on its merits and not in comparison to any other site. And just for the record - to refute your final statement there is more risk if it can't be proved that mining is occurring.

I guess, most return in investment coming first 7-12 months anyway, so the rest of the time doesn´t really matter because the GH/S Hardware can not come up with the rising difficult level.


It doesnt really matter if 1, 5 or 10 or 15 year for me, and won´t user another cloudmining any time soon personally it´s irrelevant.

My trust is completely in pb and hope they do a good job and play fair. And until now, they cetrainly do. Support also excellent.

Never got scammed and hope it stays that way, more i can not do.

If´ve wanted to play it safe i would have ordered some ANT´s and pay 0.27EURO per kw/hs for mining.

Thank you

Touche   

http://schirmfoto.de/fec9943614


rightklick on the transaction, doubleclick an btc transaction also works


(QT-Wallet 0.8.6 )



PS: When i copy the transaction ID, that format:

d15de69d03b0108490478857be1b403bd80ec07747e780b402f7dc38177d41ae-000


this "-000" i have to remove to copy it into blockchain (dont know why, always wanted to ask that but forgot )


So i always mark the id and copy only d15de69d03b0108490478857be1b403bd80ec07747e780b402f7dc38177d41ae

No one company in this business will insure you, it's just their word to get your business.  Time will tell.  And of late Mt. Gox and CoinEx are great examples of being hacked.  Still with CoinEx because they have been honest and open about matters.  PBMining by the #'s looks promising and has my business. ( 1 foot in ).

One positive thing about mining is that it is keeping my feet warm (my rig is under my desk)  as I read these post ( I am in Canada) 

What I also meant to say is that in this Bitcoin economy, everyone is a small player and companies grow up one day after the other. If I put my money into Bank of America, I know that if anything happens I will have my back covered. If something really bad happens, I will sue Bank of America.

If I put my money in CEX, PBMining and any other similar company, if things go belly up see if you can sue them. Most of these companies are not in your same home country and you don't even know their real business name. CEX could tell you tomorrow: "sorry we have been hacked and they stole all of your bitcoins", or they could just shut their website down. Same thing with PBMining.

I second Botolo86's reply!  cex might have the real fancy site and the picture of "their" equipment but that doesn't make them legit!  I've been with PBmining for over two weeks, they've been ready to respond to my questions when I had issues and they pay out on time and correctly!!! Love them!  If they where to pull out on us it'd really really really hurt me but I have no thoughts that I'll have to worry about that!  You ask CEX to take a time stamped picture of their rigs and an employee or two and see what kinda answers you get from them I'm sure it'll be the same!

I agree with you that you can use this thread in any way which is related to the service. But it's also true that this specific topic of yours has been broadly discussed so many times. You can just go back and see what users were asking and what PBMining answered. They are not going to disclose their business plan or any other information on their operation. That's it. It's your choice to decide whether you want to trust them and invest some money or whether you don't trust them and don't invest money.

I have almost 90 GHS with them. Am I sure this is not a scam? No, I am not. But I am willing to take the risk.

Are other services more reliable? Not really. As long as you have your bitcoins in the cloud, no service is reliable. Take CEX as an example. They seem to be more reliable but what prohibits them to just unplug everything tomorrow and keep your bitcoins? Nothing. Do you personally know them? Do you know where to sue them in case they take your bitcoins? No...it's basically the same exact risk you have with PBMining.

Paid thanks!