Author

Topic: PB Mining -- 5 year mining contracts! - page 242. (Read 378921 times)

newbie
Activity: 58
Merit: 0
March 30, 2014, 01:04:48 PM
Well we can always start selling 1 year contracts if we continue getting complaints that the 5 year contracts are such blasphemy, but for some reason most people don't seem to mind it so far. Cheesy  It's not like we're trying to sell it for a ridiculous price based on the longer contract term.

Charge the same price as for a 5 year contract!

I too am fed up with complaints about getting greater value than usual
sr. member
Activity: 308
Merit: 250
March 30, 2014, 01:02:38 PM
Well we can always start selling 1 year contracts if we continue getting complaints that the 5 year contracts are such blasphemy, but for some reason most people don't seem to mind it so far. Cheesy  It's not like we're trying to sell it for a ridiculous price based on the longer contract term.

the 5 year contract was one of the main factors I chose for PB mining !
sr. member
Activity: 434
Merit: 250
March 30, 2014, 01:02:12 PM
oink!  Wink

PBMining, stop being a troll, the mask doesn't suit you. we'll take 5 year contracts as long as you are happy to sell them!
member
Activity: 118
Merit: 10
March 30, 2014, 01:00:59 PM
I'm tickled pink with 5 year contracts!  Grin
sr. member
Activity: 378
Merit: 250
March 30, 2014, 12:53:07 PM
Well we can always start selling 1 year contracts if we continue getting complaints that the 5 year contracts are such blasphemy, but for some reason most people don't seem to mind it so far. Cheesy  It's not like we're trying to sell it for a ridiculous price based on the longer contract term.
member
Activity: 79
Merit: 10
March 30, 2014, 12:48:54 PM
do you guys really expect this company will last 5 years ?

Reasonably speaking a 1 year contract and a 5 year contract will pay out essentially the same thing. Hardware that's 1 year old at this point can no longer be run profitably due to its inefficient energy use compared to modern equipment, and suffice to say that the current equipment will be made obsolete before a terribly long time.
This is true, you can't buy a 5 year contract and think you'll make the same profit for 5 years, it's not realistic. If they last even 1 year, and bitcoin price doesn't explode, crash, it'll have been a win for most of the investors. Smiley

There is always the chance that Bitcoin will increase in value significantly, at which point your original hash rate could continue being significantly profitable.  We wanted to go this route because 1 year contracts seemed "standard" and we wanted to raise the bar a little bit.  We do realize that most profits are seen at the beginning, but to cut off profits after 1 year seems unnecessary.  


"increase in value significantly" ?

member
Activity: 79
Merit: 10
March 30, 2014, 12:46:01 PM
You can try "exposing" us all you want, in fact I have said numerous times we welcome people to take us to scam accusations.  It does not affect our guarantee to pay our customers for the entire 5 year contact term.  We have a responsibility to do that and we will follow through with it.  


Much of the bitcoin community works on trust and I respect your advisory that you have a need for confidentiality.
i've put my trust in this operation, and if i get screwed over, i'll have nobody to blame but myself... somehow i don't think this will happen, and i took a good while of consideration before I started putting funds into this.
i'm getting paid weekly and once it's broken even, i'll get some dust. that's all fine with me, regardless of the price of bitcoin. I enjoy mining both at home and using the cloud mining.
I've said it before and i'll say it again, PBMining, what you are doing is a great effort, allowing us little people to keep hashing in small amounts, when the big buggers are ruining the prices by farming en-mass. All I can say is, at least THIS farm is split between us and not directly hashing for a few muppets who think it's clever to take a lions share and pretend that they are 'stock traders'.

rant over.

Great statement!! I wish more people can see the situation around Bitcoin this way  Wink Keep up great work pbmining!
sr. member
Activity: 434
Merit: 250
March 30, 2014, 12:31:23 PM
well I guess when the website says 'sold out' it means 'sold out'.
I'm presuming all web migration has been completed now and if we see that statement from here-on-in, it means they are sold out.
I just asked off the cuff, as I was querying the early payment this week...

more info;

Hi

are payouts happening early this week? my balance just went to scratch?

Yes, we have a new payout procedure that takes a lot of workload off our staff.  It is almost fully automatic now.

member
Activity: 118
Merit: 10
March 30, 2014, 12:28:59 PM
Thanks Raskul, much appreciated for sharing the word!  Wish they'd post something next time! That's my one complaint with PBmining, love their service just wish they'd post something and say what's going on.   I can't wait till they get more hardware!!!!!!!!!!!!   I'm starting to make some good money each week, wanna keep growing!
sr. member
Activity: 434
Merit: 250
March 30, 2014, 12:24:55 PM
Grin  YAY PAYDAY!!!!!!!!!!!!!!!!!!  Grin wish I could give it back to you though and get some more GH/s!

Via PM...

We are currently maxed out with capacity and working as fast as we can to get more hardware online.  We ask everyone to please be patient.  Smiley
member
Activity: 118
Merit: 10
March 30, 2014, 12:21:56 PM
 Grin  YAY PAYDAY!!!!!!!!!!!!!!!!!!  Grin wish I could give it back to you though and get some more GH/s!
sr. member
Activity: 434
Merit: 250
March 30, 2014, 11:22:15 AM
thanks for payout  Grin
nice to get paid early - I don't get that at work!
member
Activity: 118
Merit: 10
March 30, 2014, 11:14:10 AM
Man, it's like everytime I buy some bitcoins to throw at you guys, there has been a hold put on orders! lol  Undecided
sr. member
Activity: 294
Merit: 250
March 30, 2014, 11:12:02 AM
I would like to point out that even for last week's purchase, given the disaster scenario of bitcoin dropping to, say, $250, this contract is still profitable, in USD - your breakeven point will probably be somewhere around the 4th year, but you still get some  dust from the 5th year - not much of an investment, true, but still profitable.

And that's in fiat, 'cause in bitcoins you're still looking for breakeven around 4 months Smiley - if you sell each satoshi you get from PB at it's lowest rate every monday, the fiat breakeven can be shortened in time - even if it makes it a lousy investment, it's still profitable Grin

In essence, if you have an equal risk opportunity of turning the same profit in 5 years, than you've chosen wrongly :-/ if you don't, then stop worrying about it in the first week, 'cause there's 259 more coming, LOL

PB, all you have to do is fulfill the contracts - anything else is nice/good/interesting/wonderful/whatever to have, but not necessary Cheesy
You get to prove that every monday morning Wink

259 weeks to go Cheesy
sr. member
Activity: 434
Merit: 250
March 30, 2014, 10:29:58 AM
You can try "exposing" us all you want, in fact I have said numerous times we welcome people to take us to scam accusations.  It does not affect our guarantee to pay our customers for the entire 5 year contact term.  We have a responsibility to do that and we will follow through with it.  


Much of the bitcoin community works on trust and I respect your advisory that you have a need for confidentiality.
i've put my trust in this operation, and if i get screwed over, i'll have nobody to blame but myself... somehow i don't think this will happen, and i took a good while of consideration before I started putting funds into this.
i'm getting paid weekly and once it's broken even, i'll get some dust. that's all fine with me, regardless of the price of bitcoin. I enjoy mining both at home and using the cloud mining.
I've said it before and i'll say it again, PBMining, what you are doing is a great effort, allowing us little people to keep hashing in small amounts, when the big buggers are ruining the prices by farming en-mass. All I can say is, at least THIS farm is split between us and not directly hashing for a few muppets who think it's clever to take a lions share and pretend that they are 'stock traders'.

rant over.
sr. member
Activity: 378
Merit: 250
March 30, 2014, 10:20:22 AM
Also, lack of transparency with PB Mining was discussed here:
https://bitcointalk.org/index.php?topic=418183.640

We will not put our operation at risk, violate sales agreements with our suppliers, open ourselves up to extortion, etc.  The list goes on.  When we feel more secure, we will become more transparent.  Our stance on this topic has not changed since page 33 of this thread.  

In January we made a lot of mistakes with our security, and just as we started releasing too much information about our business we just about got fried.  We are not going to let that happen again.
sr. member
Activity: 378
Merit: 250
March 30, 2014, 10:18:08 AM
do you guys really expect this company will last 5 years ?

Reasonably speaking a 1 year contract and a 5 year contract will pay out essentially the same thing. Hardware that's 1 year old at this point can no longer be run profitably due to its inefficient energy use compared to modern equipment, and suffice to say that the current equipment will be made obsolete before a terribly long time.
This is true, you can't buy a 5 year contract and think you'll make the same profit for 5 years, it's not realistic. If they last even 1 year, and bitcoin price doesn't explode, crash, it'll have been a win for most of the investors. Smiley

There is always the chance that Bitcoin will increase in value significantly, at which point your original hash rate could continue being significantly profitable.  We wanted to go this route because 1 year contracts seemed "standard" and we wanted to raise the bar a little bit.  We do realize that most profits are seen at the beginning, but to cut off profits after 1 year seems unnecessary.  
sr. member
Activity: 434
Merit: 250
March 30, 2014, 10:12:45 AM
Even told that will not be selling of gh/s for one month in order that people believe that pb mining sell only when they have hardware and needed time to have more because there is a stop of selling from the vendors because pb mining has purchased to much hardware the last times and they are sold out.....  

in perfect engrish; with immaculate, punctuation.
i have no fucking clue what you are on about.  Undecided
full member
Activity: 154
Merit: 100
March 30, 2014, 10:12:10 AM
If it´s a Ponzi they would sell always , everyday, 24 hours, because there is no hardware limitation

They wouldn't. There's more money to be wiggled loose when keeping up the appearance of being legit.
newbie
Activity: 39
Merit: 0
March 30, 2014, 10:07:47 AM
How many can i add in it?
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