Topic: PB Mining -- 5 year mining contracts! - page 222. (Read 379004 times)

To get any sense if my contract is worth, I looked at one of my GHs purchases and here is the result...

Starting Position
Buy date: 24.02.2014
Count: 36GHS
Price: 0,3852063 BTC (182,20€)
BTC/EUR: 473€


Now
Date: 10.04.2014, 01:00 UTC+2
Days elapsed: 45
Payout: 0,18167172 (06.04.2014) + 0,00922957 (06 to 10.04.2014) = 0,19090129 BTC
ROI: -0,19430501
Average Dif Increase: 18,7% (24.02.2014 to 10.04.2014)
BTC/EUR: 324€


Calculation: https://bitcoinwisdom.com/bitcoin/calculator
18,7% average Dif Increase --> BTC Break Even in 136 days (25.08.2014)
22,05% average Dif Increase --> BTC Break Even in 503 days (25.08.2015)
25% average Dif Increase --> NO Break Even

200€/BTC & 22,05% average Dif Increase --> NO Break Even. Lost around 103€
324€/BTC & 22,05% average Dif Increase --> NO Break Even. Lost around 54€
463.3€/BTC & 22,05% average Dif Increase -->  Break Even in 497 days (05.07.2015)
473€/BTC & 22,05% average Dif Increase -->  Break Even in 243 days (24.10.2014)


Conclusion
For a BE I need an average difficulty increase at a maximum of 22,05%.
If I look at the difficulty changes since 06.09.2012, we see an overall average increase of 17,96%.
Should be achievable but you know what German say about horses in front of the pharmacy

The BTC/EUR or BTC/USD ratio is more volatile as the difficulty increase itself. If I want my money back the dif has not to increase over 22,05% and the BTC/€ market price has to raise above 463€
Some kind of brain f...right?
So lets hold the breath and hope fortune is with us in the great BTC-Gamble

Currently +- 01065224BTC

How much is 1GHS now? Last time i was there 0.019 , was close to buy then someone spammed a ref link in trollbox from here, PBMining

I just sold my GHS on CEX and bought 30 more GHS on PBMining! 

My understanding is Difficult Level and BTC prize is all that matters for us in the future, because i think PB Mining is doing their best they can for us to be fair.

It´s not right some people call it a Ponzi or Scam only because they keep their business model secret. I would keep it secret as much as i can also!

And, would you sell small amounts of GHS on ebay using rl information when you up to scam people off big time. Me not, to dangerous.

Most of my bitcoins i was holding for YEARS are in PB Mining (not own that much ,300GHS)
(Also was investing in Pyramining, but that not worked out well so i moved my BTC out of there and in here because in not want wait 70 years to break even, i´m long dead by then)

Then i thought what would be best for me? Buying 2-3 ANTS and mine with a whooping 0.26Euro /kwh electric costs and very noisy in my 3 room condo ?
Or just hold my remaining btc some years more? (which is no fun just hold, because i like the community here also, when i have questions can ask any time here)

I do mining myself also, but only have one Gridseed Miner and ordered one more for 155Euro today
Will they ever break even? I don´t know really, when yes good when not well then not, i learned setting them up with a rasberry and i´m more comfortable with this whole mining/btc stuff. A hobby.

For myself, i think it was the right decision invest here, hold some btc longterm and doing some mining just for fun.

i agree, that's what i am using, too, but you will see that the % of difficulty decreases day by day, so in the end it will probably the same as the one in the link i posted. For example, 3 days ago the "bitcoinwisdom difficulty" was at 22%. Today almost 5% down. Who knows...

I'd rather use https://bitcoinwisdom.com/bitcoin/difficulty

about difficulty:

Difficulty: 6,119,726,089 ; Next(estimate) 6,352,162,708 (+4%) in 8 Days 15 hours ;
Source: http://btc.re/

that's good news i think.

  Summary - testerman   Picture/Text
Name:   testerman
Posts:   1
Activity:   1
Position:   Newbie
Date Registered:   April 07, 2014, 09:40:51 AM
Last Active:   Today at 12:59:38 PM

True miners who bought their own (expensive) ASICs like me would understand that more and more hashrate is all what miner's hearth need. I personally believe in Bitcoin's bright future and enjoy reinvesting mined mBTCs to buy more GH/s.. if you are also a trader, some mBTCs every week to trade with is great, isn't it? I can't simply sit on my BTCs so for that purpose I created paper wallet..

that btcminer84 guys must be reported for spamming his useless calculations again again

True! Can you share with us a formula that we can use on Excel? I would love to try some difficulty change and see when and how my piggies will become profitable. Thanks!

When we get e-mails asking about profitability, I always tell them to download a spreadsheet program and to input different scenarios.  I think this is an excellent way to fully understand the different outcomes, and I encourage it.

think of how rich he would be if he would just type in 1% difficulty, and btc were 1000000eu...    

Bitcoin price would be irrelevant to the % lost.  I'm not sure why he is converting to fiat.  25% fictional difficulty increases wouldn't be good for anyone, whether you are running your own hardware or cloud mining.  He has spammed this twice now, but it's really not a secret -- we are obviously affected by high difficulty changes just like everyone else.

Important:

A bug in OpenSSL, used by Bitcoin-Qt/Bitcoin Core, could allow your bitcoins to be stolen. Immediately updating Bitcoin Core to 0.9.1 is required in some cases, especially if you're using 0.9.0.


(0.8.6 is only vulnerable if you use the -rpcssl options and expose RPC to the internet, which is vulnerable even with this fixed)

Ordered some more 16GH/s. Not a lot, but it keeps my greed fed




Would appreciate any refferals  :

http://pbmining.com?ref=nelabais6

In 5 years? And when Btc is 900$ in 2 year?

Read this calculation example:

Month         Payout/Weekly per 10 GH/s (fictional 25% Difficulty+ each 2nd week)
April 14      0,00575246 BTC
April 14      0,00460197 BTC
April 14      0,00460197 BTC
April 14      0,00368157 BTC
May 14      0,00368157 BTC
May 14      0,00294526 BTC
May 14      0,00294526 BTC
May 14      0,00235621 BTC
June 14      0,00235621 BTC
June 14      0,00188497 BTC
June 14      0,00188497 BTC
June 14      0,00150797 BTC
July 14      0,00150797 BTC
July 14      0,00120638 BTC
July 14      0,00120638 BTC
July 14      0,00096510 BTC
August 14   0,00096510 BTC
August 14   0,00077208 BTC
August 14   0,00077208 BTC
August 14   0,00061767 BTC
September 14         0,00061767 BTC
September 14         0,00049413 BTC
September 14         0,00049413 BTC
September 14         0,00039531 BTC
October 14      0,00039531 BTC
October 14      0,00031624 BTC
October 14      0,00031624 BTC
October 14      0,00025300 BTC
November 14      0,00025300 BTC
November 14      0,00020240 BTC
November 14      0,00020240 BTC
November 14      0,00016192 BTC
December 14      0,00016192 BTC
December 14      0,00012953 BTC
December 14      0,00012953 BTC
December 14      0,00010363 BTC
January 15      0,00010363 BTC
January 15      0,00008290 BTC
January 15      0,00008290 BTC
January 15      0,00006632 BTC
February 15      0,00006632 BTC
February 15      0,00005306 BTC
February 15      0,00005306 BTC
February 15      0,00004245 BTC
March 15      0,00004245 BTC
March 15      0,00003396 BTC
March 15      0,00003396 BTC
March 15      0,00002717 BTC
April 15      0,00002717 BTC
April 15      0,00002173 BTC
April 15      0,00002173 BTC
April 15      0,00001739 BTC
May 15      0,00001739 BTC
May 15      0,00001391 BTC
May 15      0,00001391 BTC
May 15      0,00001113 BTC
June 15      0,00001113 BTC
June 15      0,00000890 BTC
June 15      0,00000890 BTC
June 15      0,00000712 BTC
July 15      0,00000712 BTC
July 15      0,00000570 BTC
July 15      0,00000570 BTC
July 15      0,00000456 BTC
August 15      0,00000456 BTC
August 15      0,00000365 BTC
August 15      0,00000365 BTC
August 15      0,00000292 BTC
September 15         0,00000292 BTC
September 15         0,00000233 BTC
September 15         0,00000233 BTC
September 15         0,00000187 BTC
October 15      0,00000187 BTC
October 15      0,00000149 BTC
October 15      0,00000149 BTC
October 15      0,00000119 BTC
November 15      0,00000119 BTC
November 15      0,00000096 BTC
November 15      0,00000096 BTC
November 15      0,00000076 BTC
December 15      0,00000076 BTC
December 15      0,00000061 BTC
December 15      0,00000061 BTC
December 15      0,00000049 BTC
January 16      0,00000049 BTC
January 16      0,00000039 BTC
January 16      0,00000039 BTC
January 16      0,00000031 BTC
February 16      0,00000031 BTC
February 16      0,00000025 BTC
February 16      0,00000025 BTC
February 16      0,00000020 BTC
March 16      0,00000020 BTC
March 16      0,00000016 BTC
March 16      0,00000016 BTC
March 16      0,00000013 BTC
April 16      0,00000013 BTC
April 16      0,00000010 BTC
April 16      0,00000010 BTC
April 16      0,00000008 BTC
May 16      0,00000008 BTC
May 16      0,00000007 BTC
May 16      0,00000007 BTC
May 16      0,00000005 BTC
Total   0,05177167 BTC (Investment was 0,064 BTC)

This is a total lost of around EUR 4,00€ per 10 GH/s contract !!!

More Ghs available