PB Mining -- 5 year mining contracts! - page 87.

Puppet

legendary

Activity: 980

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Quote from: galdur on November 17, 2014, 01:00:22 PM

Well, I don´t give a flying eff about securing the network.
What I´m after as an investor is yield. As long as they pay
they´re good.

Now; I´m a newbie in bitcoin. Only been into it like six months.
I´m just learning. Bought two bitcoin last summer and haven´t
added anything since. And it´s earning 1.75 BTC/month now.

If you want "yield", you cant beat any of the dice gambling sites. Of course you can lose it all, but the real difference is that those gambling sites will take a predictable and verifiable 1% (or whatever) average cut, and scams like these will take as much as they can. ANd its gonna be more than 1%.

As a more general hint: do not bother investing your bitcoins. Dont. The bitcoins themselves are the investment. You dont invest gold bullion either do you? You may invest *in* gold, but gold doesnt bare interest, and neither does bitcoin. Investing either is a sure way to end up losing it.

galdur

hero member

Activity: 616

Merit: 500

Quote from: Mabsark on November 17, 2014, 01:03:20 PM

You're not an investor though, you're just a mark getting scammed.

Well, that remains to be seen doesn´t it.

Mabsark

legendary

Activity: 826

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You're not an investor though, you're just a mark getting scammed.

galdur

hero member

Activity: 616

Merit: 500

Quote from: Puppet on November 17, 2014, 12:50:15 PM

Quote from: galdur on November 17, 2014, 12:44:17 PM

I guess all those cloud mining operations can be classified
as ponzi schemes, whether they actually mine coin or not.

No, it actually makes a huge difference.

First of all if you invest in a legitimate mining company, your coins end up securing the network.

Moreover, while it may be unlikely, at least its possible the investment will be profitable. With a mining ponzi, overall its impossible, unless you expect the scammer to pay your profits out of his own pocket.

Lastly, and most importantly, its unlikely a ponzi operator will continue operating for longer than is profitable for him. So once influx of new sales is lower than the outflux of fake mining proceeds, he'll vanish (and start over most likely). The result is that instead of a likely relatively small loss, you will make a huge loss.

Well, I don´t give a flying eff about securing the network.
What I´m after as an investor is yield. As long as they pay
they´re good.

Now; I´m a newbie in bitcoin. Only been into it like six months.
I´m just learning. Bought two bitcoin last summer and haven´t
added anything since. And it´s earning 1.75 BTC/month now.

Mabsark

legendary

Activity: 826

Merit: 1004

Why would you invest in a mining ponzi because you know it's a mining ponzi when there are legitimate services that you could invest in instead.

How can anyone be that stupid?

Puppet

legendary

Activity: 980

Merit: 1040

Quote from: galdur on November 17, 2014, 12:44:17 PM

I guess all those cloud mining operations can be classified
as ponzi schemes, whether they actually mine coin or not.

No, it actually makes a huge difference.

First of all if you invest in a legitimate mining company, your coins end up securing the network.

Moreover, while it may be unlikely, at least its possible the investment will be profitable. With a mining ponzi, overall its impossible, unless you expect the scammer to pay your profits out of his own pocket.

Lastly, and most importantly, its unlikely a ponzi operator will continue operating for longer than is profitable for him. So once influx of new sales is lower than the outflux of fake mining proceeds, he'll vanish (and start over most likely). The result is that instead of a likely relatively small loss, you will make a huge loss.

TheGeorge

full member

Activity: 133

Merit: 100

Quote from: galdur on November 17, 2014, 12:44:17 PM

I guess all those cloud mining operations can be classified
as ponzi schemes, whether they actually mine coin or not.

I´m in effect lending them coin for future renewal of equipment
when I buy a mining contract. Since the lifetime of equipment
in this industry is rather short they have to offer very high yield.

Once they replace the equipment they can continue to offer me
lucrative yield and so on. It´s not your ponzi variety that
collapses due to velocity of turnover, it´s one that can survive
for years. Bitcoin mining is a very slow process.

+1

Those who understand this basic are going to invest and those who dont are going to repent Wink

galdur

hero member

Activity: 616

Merit: 500

I guess all those cloud mining operations can be classified
as ponzi schemes, whether they actually mine coin or not.

I´m in effect lending them coin for future renewal of equipment
when I buy a mining contract. Since the lifetime of equipment
in this industry is rather short they have to offer very high yield.

Once they replace the equipment they can continue to offer me
lucrative yield and so on. It´s not your ponzi variety that
collapses due to velocity of turnover, it´s one that can survive
for years. Bitcoin mining is a very slow process.

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: galdur on November 17, 2014, 12:07:39 PM

I guess paying 15 bucks to find out whether something
is a scam instead of going on for months or years about
how it must be a scam

must sound very illogical if you suffer from obsessions.

The choice is not pay 15 bucks to a ponzi or complain about it being a ponzi for months. That is what is so illogical about your statement. If you want to buy hashing power from a cloud mining service, there are a range of options to choose from, most of which are ponzis and should just be ignored immediately.

See puppet's thread in order to learn the signs of a ponzi.

https://bitcointalksearch.org/topic/m.9568209

BitcoinExchangeIndia.com

sr. member

Activity: 311

Merit: 264

Quote from: raskul on November 17, 2014, 11:57:01 AM

Quote from: kotwica666 on November 17, 2014, 11:45:28 AM

Quote from: raskul on November 17, 2014, 11:38:22 AM

Quote from: kotwica666 on November 17, 2014, 11:36:44 AM

Quote from: raskul on November 17, 2014, 11:29:37 AM

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

Hard decision .. buying contract now appears to be a high risk .. I'd better buy the GHS in more fresh services.. Roll Eyes

buy bitcoin.

I want to invest BTC, which gets for example from sig. campaign..

ok then, let me put it this way. hold onto your bitcoin, it's worth something. ponzi schemes are not and neither is mining (sadly).

This is interesting that the so called ponzis are giving better return than real miners and people are saying that these ponzis are going to sustain. Cheesy

galdur

hero member

Activity: 616

Merit: 500

Quote from: Mabsark on November 17, 2014, 12:05:16 PM

Quote from: galdur on November 17, 2014, 12:01:09 PM

Don´t worry about my investments, I as hell sure don´t give a hoot about yours.

I'm not worried about your investment, I was just pointing out how illogical your statement was.

I guess paying 15 bucks to find out whether something
is a scam instead of going on for months or years about
how it must be a scam

must sound very illogical if you suffer from obsessions.

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: galdur on November 17, 2014, 12:01:09 PM

Don´t worry about my investments, I as hell sure don´t give a hoot about yours.

I'm not worried about your investment, I was just pointing out how illogical your statement was.

galdur

hero member

Activity: 616

Merit: 500

Quote from: Mabsark on November 17, 2014, 11:57:41 AM

Quote from: galdur on November 17, 2014, 11:19:30 AM

Well, trying it costs a lousy 15 bucks or so.

Makes more sense than sitting for months or years
on a message board whining about how it must be
a scam.

They're not your only options though. Instead of blindly throwing money at things, you should do some research into the various pros and cons of each alternative. If you did that, you would understand that there are better alternative availables, both in terms of value and legitimacy.

So why waste 15 bucks on something which could very well be a ponzi, when you can spend 10 bucks on something you know is not.

Don´t worry about my investments, I as hell sure don´t give a hoot about yours.

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: galdur on November 17, 2014, 11:19:30 AM

Well, trying it costs a lousy 15 bucks or so.

Makes more sense than sitting for months or years
on a message board whining about how it must be
a scam.

They're not your only options though. Instead of blindly throwing money at things, you should do some research into the various pros and cons of each alternative. If you did that, you would understand that there are better alternative availables, both in terms of value and legitimacy.

So why waste 15 bucks on something which could very well be a ponzi, when you can spend 10 bucks on something you know is not.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: kotwica666 on November 17, 2014, 11:45:28 AM

Quote from: raskul on November 17, 2014, 11:38:22 AM

Quote from: kotwica666 on November 17, 2014, 11:36:44 AM

Quote from: raskul on November 17, 2014, 11:29:37 AM

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

Hard decision .. buying contract now appears to be a high risk .. I'd better buy the GHS in more fresh services.. Roll Eyes

buy bitcoin.

I want to invest BTC, which gets for example from sig. campaign..

ok then, let me put it this way. hold onto your bitcoin, it's worth something. ponzi schemes are not and neither is mining (sadly).

kotwica666

legendary

Activity: 2282

Merit: 1035

Quote from: raskul on November 17, 2014, 11:38:22 AM

Quote from: kotwica666 on November 17, 2014, 11:36:44 AM

Quote from: raskul on November 17, 2014, 11:29:37 AM

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

Hard decision .. buying contract now appears to be a high risk .. I'd better buy the GHS in more fresh services.. Roll Eyes

buy bitcoin.

I want to invest BTC, which gets for example from sig. campaign..

raskul

sr. member

Activity: 434

Merit: 250

Quote from: kotwica666 on November 17, 2014, 11:36:44 AM

Quote from: raskul on November 17, 2014, 11:29:37 AM

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

Hard decision .. buying contract now appears to be a high risk .. I'd better buy the GHS in more fresh services.. Roll Eyes

buy bitcoin.

kotwica666

legendary

Activity: 2282

Merit: 1035

Quote from: raskul on November 17, 2014, 11:29:37 AM

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

Hard decision .. buying contract now appears to be a high risk .. I'd better buy the GHS in more fresh services.. Roll Eyes

raskul

sr. member

Activity: 434

Merit: 250

Quote from: n2004al on November 17, 2014, 11:26:18 AM

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

same here. broke even a couple months ago. would reinvest if there was a coinbase tx or proof that pbmining are actually mining.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: kotwica666 on November 17, 2014, 11:24:00 AM

Someone has already reached ROI? If so, when was bought contract?

Reached break even (because ROI is reached every week at sunday) about three month ago. Bought contracts since march.

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