PB Mining -- 5 year mining contracts! - page 54.

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: raskul on December 04, 2014, 07:34:21 PM

Quote from: PBmining on December 04, 2014, 06:03:56 PM

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors.

You initially gave a calculation in a PPS method as to how your customers will be paid. This was a good move as it persuades customers that earnings may indeed be made on a PPS algorithm and there is a possibility that you are mining.

To then simply delete the post without notice to your customers, is rather deceitful is it not?
As a customer, I had presumed payouts were still as-per that PPS calculation.
You should have advised the new calculation, instead of leaving us to notice payments were being reduced.

You will have to go a long way from here to convince those of us who - you must admit to yourself - have every right to be dubious about your practices.
I'm not yet convinced in any way that you are actually mining anything by these remarks.

I will state this one more time. If you are one of the customers who read this formula while it was still posted in the forums at that time which resulted in you buying a contract, please e-mail our support and we will make sure you are compensated for any losses you feel that you endured.

galdur

hero member

Activity: 616

Merit: 500

I think it´s Panama actually.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: PBmining on December 04, 2014, 06:03:56 PM

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors.

You initially gave a calculation in a PPS method as to how your customers will be paid. This was a good move as it persuades customers that earnings may indeed be made on a PPS algorithm and there is a possibility that you are mining.

To then simply delete the post without notice to your customers, is rather deceitful is it not?
As a customer, I had presumed payouts were still as-per that PPS calculation.
You should have advised the new calculation, instead of leaving us to notice payments were being reduced.

You will have to go a long way from here to convince those of us who - you must admit to yourself - have every right to be dubious about your practices.
I'm not yet convinced in any way that you are actually mining anything by these remarks.

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: galdur on December 04, 2014, 07:25:55 PM

Quote from: RussianRaibow on December 04, 2014, 07:16:40 PM

Quote from: PBmining on December 04, 2014, 06:03:56 PM

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors. Customers who bought contracts that early have made more than their ROI back. If any of these customers who bought those formula dependent contracts feel that they have been somehow ripped off and/or have not exceeded their principal, please e-mail support and we will make sure you are taken care of. At the moment we are paying out exactly what we are making, and this is why it's called "Piggyback mining". A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Despite what the trolls will tell you, we remain very competitive and will continue serving our customers until all contracts have expired. Again, if anyone feels that they have been excluded in any way from our service, please contact us and we will look at everyone on a case by case basis. We don't want any sad piggies.

Yes, this account is online quite a bit but it is to answer support requests. It has not been active in this specific thread due to an influx of butchers. A butcher is similar to a troll, but they are here to specifically slaughter the piggies. Don't worry, piggies. We will prevail.

I'd have been happier, if u specifically mentioned that these butchers are fed by Chinese cartel formed by ASIC miner, RockMiner, ZeusMiner and XBTec. This group is led by Panamian cheat fund HaveLock Investments to troll every cloud mining thread.

In case if u r unaware about this group, check: https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

The crap on Havelock yields 800 satoshi per GHS/day vs. 1090 at PBM

which explains why they needed to hire totally psychotic nutjobs

to push it. Grin

Havelock is registered in Belize. Therefore, their legal responsibility is much smaller than ours. Just something to keep in mind.

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: Mabsark on December 04, 2014, 07:27:33 PM

Quote from: PBmining on December 04, 2014, 06:50:15 PM

Please direct your browser to www.pbmining.com.
"We purchase our own ASIC hardware as well as hash power from other sources. When you buy a contract with us, you will begin earning Bitcoins instantly."

I want to know how you calculate payouts. The website mentions nothing about that. Why should I buy 1 Gh/s from you when the payout can be anything you say it is?

If you are not comfortable with our lack of full transparency, please don't buy a contract.

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: newIndia on December 04, 2014, 07:10:44 PM

Quote from: PBmining on December 04, 2014, 06:52:55 PM

Also...
Although we are backlogged with support requests, an enormous effort will be dedicated in the following days to catching up. When you make a support request, please give full details (eg. Transaction ID if the request is about an order, or new e-mail address if you wanting to change that, etc.)

What are the information u need, if withdrawal address change is requested ?

newIndia, have you tried changing this yourself from the profile page? Our new feature allows you to do that, although it does take a couple days for us to validate the change. If for some reason your e-mail provider is blocking you from communicating with our automatic validation process, please e-mail admin@pbmining with the following information:

Old Address: _____________
New Address: _____________

Make sure you request this change from the same e-mail you are registered with in our system, otherwise we will not trust the request.

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: PBmining on December 04, 2014, 06:50:15 PM

Please direct your browser to www.pbmining.com.
"We purchase our own ASIC hardware as well as hash power from other sources. When you buy a contract with us, you will begin earning Bitcoins instantly."

I want to know how you calculate payouts. The website mentions nothing about that. Why should I buy 1 Gh/s from you when the payout can be anything you say it is?

galdur

hero member

Activity: 616

Merit: 500

Quote from: RussianRaibow on December 04, 2014, 07:16:40 PM

Quote from: PBmining on December 04, 2014, 06:03:56 PM

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors. Customers who bought contracts that early have made more than their ROI back. If any of these customers who bought those formula dependent contracts feel that they have been somehow ripped off and/or have not exceeded their principal, please e-mail support and we will make sure you are taken care of. At the moment we are paying out exactly what we are making, and this is why it's called "Piggyback mining". A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Despite what the trolls will tell you, we remain very competitive and will continue serving our customers until all contracts have expired. Again, if anyone feels that they have been excluded in any way from our service, please contact us and we will look at everyone on a case by case basis. We don't want any sad piggies.

Yes, this account is online quite a bit but it is to answer support requests. It has not been active in this specific thread due to an influx of butchers. A butcher is similar to a troll, but they are here to specifically slaughter the piggies. Don't worry, piggies. We will prevail.

I'd have been happier, if u specifically mentioned that these butchers are fed by Chinese cartel formed by ASIC miner, RockMiner, ZeusMiner and XBTec. This group is led by Panamian cheat fund HaveLock Investments to troll every cloud mining thread.

In case if u r unaware about this group, check: https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

The crap on Havelock yields 800 satoshi per GHS/day vs. 1090 at PBM

which explains why they needed to hire totally psychotic nutjobs

to push it. Grin

galdur

hero member

Activity: 616

Merit: 500

Quote from: newIndia on December 04, 2014, 07:10:44 PM

Quote from: PBmining on December 04, 2014, 06:52:55 PM

Also...
Although we are backlogged with support requests, an enormous effort will be dedicated in the following days to catching up. When you make a support request, please give full details (eg. Transaction ID if the request is about an order, or new e-mail address if you wanting to change that, etc.)

What are the information u need, if withdrawal address change is requested ?

It´s on the profile page

Payout Address: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx change

Click change.

RussianRaibow

hero member

Activity: 616

Merit: 500

I AM A SCAMMER

Quote from: PBmining on December 04, 2014, 06:03:56 PM

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors. Customers who bought contracts that early have made more than their ROI back. If any of these customers who bought those formula dependent contracts feel that they have been somehow ripped off and/or have not exceeded their principal, please e-mail support and we will make sure you are taken care of. At the moment we are paying out exactly what we are making, and this is why it's called "Piggyback mining". A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Despite what the trolls will tell you, we remain very competitive and will continue serving our customers until all contracts have expired. Again, if anyone feels that they have been excluded in any way from our service, please contact us and we will look at everyone on a case by case basis. We don't want any sad piggies.

Yes, this account is online quite a bit but it is to answer support requests. It has not been active in this specific thread due to an influx of butchers. A butcher is similar to a troll, but they are here to specifically slaughter the piggies. Don't worry, piggies. We will prevail.

I'd have been happier, if u specifically mentioned that these butchers are fed by Chinese cartel formed by ASIC miner, RockMiner, ZeusMiner and XBTec. This group is led by Panamian cheat fund HaveLock Investments to troll every cloud mining thread.

In case if u r unaware about this group, check: https://www.cryptocoinsnews.com/zeusminer-expands-partnerships-include-asicminer-xbtec-rockminer/

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: PBmining on December 04, 2014, 06:52:55 PM

Also...
Although we are backlogged with support requests, an enormous effort will be dedicated in the following days to catching up. When you make a support request, please give full details (eg. Transaction ID if the request is about an order, or new e-mail address if you wanting to change that, etc.)

What are the information u need, if withdrawal address change is requested ?

PBmining

sr. member

Activity: 378

Merit: 250

Also...
Although we are backlogged with support requests, an enormous effort will be dedicated in the following days to catching up. When you make a support request, please give full details (eg. Transaction ID if the request is about an order, or new e-mail address if you wanting to change that, etc.)

PBmining

sr. member

Activity: 378

Merit: 250

Quote from: Mabsark on December 04, 2014, 06:48:31 PM

Quote from: PBmining on December 04, 2014, 06:03:56 PM

A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Where exactly is this introduction page with this vital information? I can't see it on your website and it's not in the initial post in this thread. So where exactly can this information be found?

Please direct your browser to www.pbmining.com.
"We purchase our own ASIC hardware as well as hash power from other sources. When you buy a contract with us, you will begin earning Bitcoins instantly."

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: PBmining on December 04, 2014, 06:03:56 PM

A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Where exactly is this introduction page with this vital information? I can't see it on your website and it's not in the initial post in this thread. So where exactly can this information be found?

PBmining

sr. member

Activity: 378

Merit: 250

Quote

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

That is quoted from January, and was deleted after, as we changed our formula to include other factors. Customers who bought contracts that early have made more than their ROI back. If any of these customers who bought those formula dependent contracts feel that they have been somehow ripped off and/or have not exceeded their principal, please e-mail support and we will make sure you are taken care of. At the moment we are paying out exactly what we are making, and this is why it's called "Piggyback mining". A good portion of our hash power in the recent months have come from other mining sources, as clearly indicated on our introduction page which we updated many months ago. We simply pay out what we receive from all combined sources.

Despite what the trolls will tell you, we remain very competitive and will continue serving our customers until all contracts have expired. Again, if anyone feels that they have been excluded in any way from our service, please contact us and we will look at everyone on a case by case basis. We don't want any sad piggies.

Yes, this account is online quite a bit but it is to answer support requests. It has not been active in this specific thread due to an influx of butchers. A butcher is similar to a troll, but they are here to specifically slaughter the piggies. Don't worry, piggies. We will prevail.

MrTeal

legendary

Activity: 1274

Merit: 1004

Quote from: newIndia on December 04, 2014, 04:09:14 PM

Quote from: MrTeal on December 04, 2014, 01:59:40 PM

-snip-
PBMining's whole schtick was that you would get 100% PPS equivalent for your hashrate, no fees or costs. Network luck should have no bearing on it.

For a real miner, this is impossible. If they satisfy this demand of yours, u can be 110% sure that they are Ponzi.

Of course it's impossible, but it's what they promised when they sold the contracts.

Quote from: wjohnson1988 on July 05, 2014, 02:51:38 PM

Quote from: ?? on ??

1. Of course we are hashing, otherwise we would be paying our users out of our own pockets and that would eventually make us bankrupt. We are here to succeed and have paid out our customers on time since our launch.

2. There are no mining pool fees to the customer. We cover our own mining fees from our pool workers which the customer will never have to see.

Instead, the customer is payed based on this fixed formula, taken right from our PHP script:

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

This formula is standard with all Bitcoin Profit Calculators. Our users do not mine directly with our hardware -- the advantage of this is that we are capable of insuring them during any downtime or performance reductions. PB Mining guarantees a fixed rate of hash power at 100% efficiency -- a luxury you will not find anywhere else.

Enough time will pass to the point where the Blockchain ledger speaks for itself when you look at all our happy piggies.

We are also the first company to give away free hash power.

Can you break this calculation down?

jimmothy

hero member

Activity: 770

Merit: 509

Quote from: newIndia on December 04, 2014, 04:09:14 PM

Quote from: MrTeal on December 04, 2014, 01:59:40 PM

-snip-
PBMining's whole schtick was that you would get 100% PPS equivalent for your hashrate, no fees or costs. Network luck should have no bearing on it.

For a real miner, this is impossible. If they satisfy this demand of yours, u can be 110% sure that they are Ponzi.

Do you see now why people think pbmining is a ponzi?

I see you're advertising cloudmining.website which also has zero fees/variance.

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: MrTeal on December 04, 2014, 01:59:40 PM

-snip-
PBMining's whole schtick was that you would get 100% PPS equivalent for your hashrate, no fees or costs. Network luck should have no bearing on it.

For a real miner, this is impossible. If they satisfy this demand of yours, u can be 110% sure that they are Ponzi.

ajw7989

legendary

Activity: 924

Merit: 1000

I hope we get some clarification to why the payouts are being skimmed. I am too lazy to do the calculations since I ROIed a bit ago so I will believe the crowd. If it was a scam the payouts would stop and not be skimmed. Not sure if they aren't making enough profit so they decided to skim or its a bug/glitch only time will tell.

MrTeal

legendary

Activity: 1274

Merit: 1004

Quote from: picolo on December 04, 2014, 01:46:42 PM

Quote from: Netwerked on December 04, 2014, 12:18:22 PM

Quote from: 5ick3uffalo on December 04, 2014, 11:10:59 AM

Quote from: cypher21 on December 04, 2014, 02:53:36 AM

Quote from: Rudler on December 04, 2014, 01:55:01 AM

Hmm....PBMining was logged in the last days every time, a bunch of times every day.

So I think, he / they are reading everything here.

But why dont answer? Payouts are little bit smaller but coming constant.

Untill now, it is not too late to answer..... Wink

Guys:) Wait for the next payout. If there is again 6/7 we have a problem. otherwise i think it is no problem

exactly. yes because difficult jump was negative , so can`t be lower than last one

Ummmm... I have a feeling that our next payment will be lower than the last one. Here is why:

Let's assume that a contract has 1TH, and the difficulty decreased around 6PM EST 12/2/2014.

Difficulty, Theoretical BTC/Hour, # Hours This Week So Far
40,300,030,328, 0.00052BTC, 66 Hours (Sunday - Tuesday @ 6PM)
40,007,470,271, 0.0005238BTC, 42 Hours (Tuesday @ 6PM + 24 Hours for Wednesday + 12 Hours Today)

This means that as of 12PM EST, I should have:
0.00052 * 66 + 0.0005238 * 42 = 0.03432 + 0.0219996 = 0.0563196BTC pending

When I check my account balance, I actually have: 0.04641061BTC pending

0.04641061 / 0.0563196 = 82.41% of expected pending BTC.

The network was unlucky as a whole for the last 24h so should get less than expected.
https://blockchain.info/

PBMining's whole schtick was that you would get 100% PPS equivalent for your hashrate, no fees or costs. Network luck should have no bearing on it.

Topic: PB Mining -- 5 year mining contracts! - page 54. (Read 378928 times)