Oh, hell.
I shouldn't take the bait, but what the hell. I did indeed contact pbmining directly early on. I was asked to not reveal their identities beyond what was publicly known. But they did give me their names, which seemed to check out. I have said this as well, much earlier in the thread. It keeps coming around, and the fact that they are still able to pay out after this much time makes me think the ponzi cries are false. I could be wrong. But I don't think I am. I have them in my sig, and unless someone can prove they are not paying out, it will continue.
I shouldn't take the bait, but what the hell. I did indeed contact pbmining directly early on. I was asked to not reveal their identities beyond what was publicly known. But they did give me their names, which seemed to check out. I have said this as well, much earlier in the thread. It keeps coming around, and the fact that they are still able to pay out after this much time makes me think the ponzi cries are false. I could be wrong. But I don't think I am. I have them in my sig, and unless someone can prove they are not paying out, it will continue.
Not sure if you realize, you sound 100% identical to all pirate ponzi pushers and "pass-through" operators 2 years ago.
"He's always paid out", "its been running for such a long time", "you cant prove its a ponzi", "I will change my signature when he stops paying out",
yada yada yada. And most of them knew full well it was a ponzi.
There are some more similarities. Pirate paid 1% per day. These mining ponzi's currently pay out roughly 0.00001248/0.0015 BT = 0.8% per day. But, that percentage goes down with every difficulty increase. And there is a much bigger difference: investments in pirate where redeemable, whereas with these mining ponzi's they are not. You cant get your money out. Thats why can operate for so much longer: there is no risk of a bank run. In theory its even possible they run forever; if it turns out mining is not profitable at those rates, then these ponzi's have to pay less in fictitious mining revenue than they collected from sales. So they could make a (relatively modest) profit while maintaining the illusion of being honest. Of course, investors would still lose, as they always do with a ponzi.
OTOH, if difficulty slows down enough that in theory, mining at pb's rates would yield a profit, then what ? If no one ordered anything from today on, it would still take on the order of a year for pbmining to owe its victims more than it collected. But that is not the interesting part. These ponzi's will vanish much sooner than that, because their maximum profit occurs once they collect less new investments through their army of referral whores than they have to pay out in mining revenues. So how close are we to that ?
By June 25th they claimed to have sold 833 Th/s.
By october that had risen to 2.5 PH
Today its 4.2 PH
It doesnt take a rocket scientist to figure out that they are selling far faster than they are paying out. And that of course, is why they still pay out. Not just because they can, but because it still makes sense to maximize their loot. Using that as "proof" for saying this isnt a ponzi, is either utterly ignorant, or more likely, intellectually dishonest.
Since I have a hard time believing you dont think its bizarre they sold more hashrate than asicminer, yet have not shown a single datacenter picture, a single asic vendor endorsement, a single signed block, a single payout that can be traced back to a mining pool instead of a coinmixer,.. Im going by the latter. Im preaching to the choir, you, like most referral whores and previous PPT operators, know its a scam, you're just trying to cash in on it. Shame on you.
