PBmining - legit? - page 28. | Bitcointalksearch.org

Domino

hero member

Activity: 662

Merit: 500

Quote from: ChuckBuck on April 29, 2014, 08:10:43 AM

Quote from: gagalady on April 29, 2014, 07:50:36 AM

Quote from: ChuckBuck on April 25, 2014, 09:04:57 AM

PBmining or "Ponzi backed" mining.

Has a nice ring to it! Grin

I could say they are legit because I'm using them and already got my first payment so i got no complains so far but their site is pretty new If i'm not wrong so It's your choice to use them or not but from my experience i would recommend them.

You get payments now. Will you continue to in Year 2 through 5? Or will you be "forced" to reinvest? Or will they just up and vanish one day in year 2 through 5?

Something you'll have to ask at some point with basically a 5 year contract.

The main thing is if you can find out if they actually have mining equipment. So far there's been no proof given yet.

Indeed, this is true for all cloudmining sites.
With cloud mining, you don't need to do maintenance yourself, but you need to trust the site owners.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: gagalady on April 29, 2014, 07:50:36 AM

Quote from: ChuckBuck on April 25, 2014, 09:04:57 AM

PBmining or "Ponzi backed" mining.

Has a nice ring to it! Grin

I could say they are legit because I'm using them and already got my first payment so i got no complains so far but their site is pretty new If i'm not wrong so It's your choice to use them or not but from my experience i would recommend them.

You get payments now. Will you continue to in Year 2 through 5? Or will you be "forced" to reinvest? Or will they just up and vanish one day in year 2 through 5?

Something you'll have to ask at some point with basically a 5 year contract.

The main thing is if you can find out if they actually have mining equipment. So far there's been no proof given yet.

gagalady

legendary

Activity: 938

Merit: 1000

Quote from: ChuckBuck on April 25, 2014, 09:04:57 AM

PBmining or "Ponzi backed" mining.

Has a nice ring to it! Grin

I could say they are legit because I'm using them and already got my first payment so i got no complains so far but their site is pretty new If i'm not wrong so It's your choice to use them or not but from my experience i would recommend them.

captgnh

newbie

Activity: 22

Merit: 0

Quote from: brian_23452 on April 29, 2014, 12:03:46 AM

Paying 1 BTC now to get 0.5-.6 BTC later is a losing move. It doesn't matter what bitcoin does, it can go up, it can go down, it can stay exactly the same as it is, you willingly, of your own free will, gave them money now, to get less than that back at some point in the future. It doesn't have to be a Ponzi scheme, you lost money on this deal either way.

I don't happen to agree with you. The Bitcoin I spent on this mining contract costs me approx. $435. If, for the sake of argument, the price of Bitcoin goes up to $600 or $700 or higher, the value of the Bitcoin I am mining goes up as well and it becomes a much more attractive value. That is simple arithmetic. Maybe PB Mining is counting on this as well. According to everything I read, the general ongoing acceptance of Bitcoin worldwide and Wall Street's new involvment, I would say that's a given. Only time will tell. So far I have not lost a dime. I am certainly making more on my investment than a savings account, money market fund or the stock market. If, and it is a big if, I get ripped off, I will deduct it from my taxes and move on. I don't feel like playing the safe game. It gets you even less.

brian_23452

sr. member

Activity: 350

Merit: 250

Paying 1 BTC now to get 0.5-.6 BTC later is a losing move. It doesn't matter what bitcoin does, it can go up, it can go down, it can stay exactly the same as it is, you willingly, of your own free will, gave them money now, to get less than that back at some point in the future. It doesn't have to be a Ponzi scheme, you lost money on this deal either way.

captgnh

newbie

Activity: 22

Merit: 0

Unbelievable. I read this whole thread all the way through. I bought a contract with PB Mining for 200 GHs just last week. No one has presented any proof, but circumstantial evidence sounds interesting. Could be a ponzi scheme, but could also be legit. I have not heard anything about what will happen if the price of Bitcoin starts to go back up. How does this look with Bitcoin selling at $1000.00 or more a coin? Surely on a five year contract they would be counting on the value to climb, we all are. There is a lot of money involved now. Money can be traced these days. There is always some kind of paper trail. It looks like I'm in for the long haul now. I guess I will keep my fingers crossed and hope for the best.

ChuckBuck

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Activity: 1372

Merit: 783

better everyday ♥

PBmining or "Ponzi backed" mining.

Has a nice ring to it! Grin

tzortz

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Activity: 728

Merit: 500

Give it up. It is a ponzi for sure.

MrsDoublehelix

newbie

Activity: 37

Merit: 0

Quote from: pabpete on April 24, 2014, 04:14:44 PM

Well I won a free 20ghs so who knows I'm not at any loss XD.

congratiolations on this fine shot. I made much worse investmests like buying some bi-fury/twinfury hardware according to my husband. Somehow .. there isn't a free free lunch for all or is it, puppy ?

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: gagalady on April 24, 2014, 08:49:21 AM

I'm also using them. At the moment i have 20GH/s and It's mining really fine, i'll see how the pay out will go this weekend. The price looks really low so If everything goes good might buy more hash in the future. Though It's only plans..

Excellent choice. The more you pay them, the longer they will can keep this ponzi running.

pabpete

sr. member

Activity: 539

Merit: 255

Well I won a free 20ghs so who knows I'm not at any loss XD.

MrsDoublehelix

newbie

Activity: 37

Merit: 0

Quote from: tempestb on April 24, 2014, 03:14:30 PM

Because they promise people free money later if they invest new money now.

thank you for your honest opinion. At least you and my two tomcats support me not to ride a dead horse (aka ponzi). If they smell a dead mouse..., well it's dead I hope so Grin

tempestb

hero member

Activity: 729

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Quote from: MrsDoublehelix on April 24, 2014, 03:02:26 PM

Seriously, how can you trust a mining-service who hasn't proofed the mining of at least single block on blockchain but uses a tumbler-service to pay out it's customers ? Huh

Because they promise people free money later if they invest new money now.

MrsDoublehelix

newbie

Activity: 37

Merit: 0

Seriously, how can you trust a mining-service who hasn't proofed the mining of at least single block on blockchain but uses a tumbler-service to pay out it's customers ? Huh

iflash

member

Activity: 69

Merit: 10

Little update from my side:

After 7 weeks of miming at a rate of 1 TH/s I have 4.8 BTC. I invested 8.9 BTC, so still way to go before break even. I will mine around 0.5 BTC this week and the rate goes down pretty fast. I think I will be able to "just" break even. Maybe I bought too early (back then the price was 0,0089 BTC).

Let's wait and see - fingers crossed.

But: All the guys claiming it was a ponzi have not been proven right so far. But - as I always said: It still might be one. A ponzi implodes only if they can not generate enough new clients.

Happy mining,

iFlash

gagalady

legendary

Activity: 938

Merit: 1000

I'm also using them. At the moment i have 20GH/s and It's mining really fine, i'll see how the pay out will go this weekend. The price looks really low so If everything goes good might buy more hash in the future. Though It's only plans..

xstr8guy

hero member

Activity: 784

Merit: 1004

Glow Stick Dance!

I invested just under 9BTC on March 28th (1190 GHs) and have earned over 2.5BTC in under 4 weeks. So far, so good.

As expected, returns diminish with every difficulty increase but hopefully I'll eventually earn a positive ROI.

ajw7989

legendary

Activity: 924

Merit: 1000

Quote from: xdmlaser on April 14, 2014, 10:47:19 AM

Quote from: thresher on April 13, 2014, 11:34:24 AM

Quote from: xdmlaser on April 13, 2014, 11:08:35 AM

Quote from: Wattda on April 13, 2014, 07:54:51 AM

Evidence??? note they no longer post how much hashing power they mine or their payouts.

It's on their main page, 159.5TH

As for that other comment about the guy saying he has broke even, yeah that IS a bunch of crap, I have had 125GH since March 3rd.

I have been paid back (including tonight's incoming payout) 0.487BTC.

I invested 1.24BTC

Also, every single one of my 11 payments as I bought in pieces, the amount ends in 238.....very strange lol I just saw that as I went back thru my blockchain.

You were expecting to break even in 40 days........ Roll Eyes

No wonder your accusing them of being a scam.
Please, point me in the direction of your secret miners that yield the results you were expecting for a price of 0.487 btc.

I think you misunderstood my comment sir, I stated I have been paid back 0.487 OF MY 1.24BTC.....I am far from breaking even, and so far I don't believe it's a scam, until I lose the rest if they pack it up today. I'm getting closer and closer to recouping 50% of my investment, and I stated the previous guy saying he broke even already, was full of crap.

I am actually almost even on my initial few gh investments back in the end of jan/ begin of feb so some people are almost ROI

stoner19

hero member

Activity: 752

Merit: 500

As far as I can tell it's legit. Crypto blog had good things to say about. You can monitor your earnings by refreshing your profile page and it shows you your exact balance. Pretty cool in my opinion. I just signed up for 15 Gh/s to try it out. Feel free to use my referral link to register

PBMining

Bagus23

member

Activity: 94

Merit: 10

Love Cryptocoin ~

so far so good with pbmining, but from now I will be more carefull choosing cloud mining. Grin

just enjoy what i receive till now. Wink

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