Topic: PBmining - legit? - page 31. (Read 67909 times)

which is what I said earlier about them

There is a valid case for this being a legitimate business model. I just find it rather far fetched given the numerous other factors brought up in this thread. You might want to go back and read the thread if you are curious.

Money now is worth more than money later.  It can help them stay ahead of the game in hardware purchases since their payback has less lag than mining (roughly 3 months given lots of assumptions).
As hashrate costs decrease over time, the oldest contracts will trend towards very low cost for them too.
They could be mining heavily on their own as well, I don't know.  This would be a good way to mitigate short term risk with a % of your mining hw in that case.

One interesting thing to consider is that everyone selling you cloud mining or hardware expects that it is a better investment for them to have your money than the hashing for themselves. So they may be selling you on the "big returns" when in fact they believe just the opposite.

I signed up for a modest amt of GH and got provisioned quickly, seems to be working as expected so far.
The risk is obviously that something goes wrong in the future before the contract is completed.  I'm thinking if people stop buying contracts, their income dries up, but they're still expected to continue mining for 5 years past that point.  Seems like the most dangerous part of this investment.  I have no good way to judge how real that risk is.
There's also the risk that BTC reduces in value and money is lost despite PB providing exactly as they promise.

whats 2 ghz got to do with it?

No disrespect intended, but you recommend them for doing what exactly? As far as I can tell, a consumer can give them BTC and get back smaller and smaller BTC over time. Second, by advertising for them, it doesn't exactly promote an unbiased review. Buying 2GH/s does what, exactly, as a mining opportunity on a 5 year contract?  How long have you mined with them and did you get a ROI (honestly)? Yes, you acknowledge they may be a ponzi scheme, but in the real world, would you ever recommend an investment opportunity that might be a ponzi scheme?  The math doesn't add up with them and the owner won't come forward with straight answers on the mining question.  Don't take my word for it, read his posts and decide for yourself.  

If you want your site to be taken seriously, I wouldn't advertise cloud mining companies.  Try signing up other mining-related services, hardware providers, etc.

What a bunch of baloney.  They get DDOS and people might hurt them.  Somehow this doesn't bother Josh at BFL or the guys at KNC or any other real company involved in mining.  We even know who runs MtGox and I'm sure a lot of people would like to put the hurt on him.

You have no basis to say they are legit.  The Ebay thing means nothing.  They could send you something from anywhere as PBMining and get positive EBay feedback. 

If they are asking you for money, you should know who they are.  Only in this crazy Bitcoin world do people just hand over cash to total strangers and hope things turn out ok.  It's bonkers.

English is obviously not your native language. You do have referral advertisements and links on your site. Added to my ignore list, don't bother to respond to me, but feel free to continue the debate with yourself and others if you like.

Thanks TechByPc for actually reading the review and giving feedback.

I am much harsher about CEX because right now with the new trading fee it is highly unlike you make any profit, lets not even talk about the maintenance / ghs / hour.
Of course you can get into CEX today, and out tomorrow, but with a LOSS. And I am not the only one thinking about CEX this way. Why do we have no CEX refferal? We got out of CEX quiet some time ago, no chance to break even there or get some profit, even if it would be dust.


I actually think we did do that, quote:


Trustability: Only a 5, and that just because of their good rated Ebay account. We watched / followed the thread of PBMINING / PBMINING a long time ago, before we even thought we would make a cloud mining review site one day. Fact is, that up to this date they never failed to pay out any of their customers. But like i stated, only time will tell!


I respect your opinion, but we did not write a good review for them just to generate BTC for us with a PBMINING refferal link. As I mentioned above, I would change the advertisements in a heartbeat if someone would be interested in advertising with us, which might happen soon So in the end: PBMINING review stays the same, no PBMINING advertisements with reflink on the site though, which would make your statement wrong saying we wrote good about them to generate ref income for us on PBMINING.

Regards

I looked at your site before responding. It is a review site. It is the job of a review site to fully explore each product and then provide a recommendation, which you do. That's bias. You are much harsher about CEX than PBmining and I think you are completely wrong about that. With CEX you can get in and change your mind in a day and get back out, its been time tested, and it is adding features you complain about. With PBmining there is no getting out of it. It is my opinion that your review scores (bias) are based on the expected referral income you could get (you have no referral/advertising link on CEX) rather than on the respective qualities of each. Any investment where you openly admit that there is the possibility they will walk away with your money is a high risk investment and should be rated as such.

My opinion. Not telling you how to run your site though. You can do and say whatever you like, obviously.

If you actually read the review, you would know it is not biased. There are many +, but also -. What you guys post makes me think you did not read the review on our site. If we would be biased by PBMINING there would not be a single negative point about them in our review, however there are quiet some negative points.

https://cloudmining.guru/wp/pbmining/

Why do we advertise with our ref link? Simple, right now we just launched and we are not generating the traffic (50'000 visitors a month) to get someone to advertise with us for a little bit of Bitcoin.
We would change the advertisement in an instant if someone would be interested in advertising with us.

This project costs us money aswell, domain, hosting etc. and even though we do make it mostly profit free, and never would take any money to write a good review about a cloud mining provider. It would also be nice to get a little bit back for what we do.

Regards

Naw, they are the [self-proclaimed] "#1 CLOUD MINING REVIEW SITE" out there. They wouldn't lead you down the wrong path for a referral!

legit, man, totally legit

Considering your review site advertises for pbmining.com at this time, it isn't far-fetched to say your position is likely not free from a conflict of interest.


Having a clear stake in pbmining.com yourself, I therefor find it hard to take your statement free of potential bias.

It's statements like these that make people look twice at what's going on... I've seen no other operational service being advertised by such a high number of Forum newbies with such persistence, this is unique to pbmining. Not even cex.io spammers had these weirdly streamlined attributes.

PBMINING might not be the most transparent cloud mining provider out there - yes.

We watched them since their very beginning and correct me if I am wrong but they sold cloud mining GHS off of Ebay some while ago.
So, why would they screw you / us over? The guy / guys who bought from them off Ebay do have a real contact name. In a screwover case they would be found easily.

Why are they so secretive? They have been DDOSED and people tried to hurt or bring them down in many ways, so they might be off better handling everything as secret as possible for the moment.

PBMINING is currently the most profitable cloud mining provider out there, and that with an outstanding service, like I stated we watched them since their beginning and they never let down one customer.
If there was any problems they resolved it friendly and quickly. It could be a scam, it could be a ponzi, only time will tell, but we personally do think they are LEGIT and here to STAY!

Aswell we wrote a review about them and you can check it here: https://cloudmining.guru - we do recommend them!

Regards

For the people here that got a payout, that doesn't mean the site is necessarily legitimate. The rumor on other boards is that this is a ponzi (just google pbmining ponzi) and like an offline ponzi, the theory here is pretty simple. In this example, new sales in BTC are used to provide a small payout in BTC to the previous customers... customer #400 pays 3.2BTC and customers 1 - 399 are paid 0.005 and 1.1 is pocketed. This is why everyone is asking pbmining to provide proof of mining, which the owner refuses to do (https://bitcointalk.org/index.php?topic=418183.640).

There's one comment in the thread that especially suspicious, "Also, our system works different than what you're used to.  The coins come from all directions, and make many hops to get away from prying eyes like yours.  Someone discovered one of our addresses and we removed it immediately from the pool.  Payouts are also fed from our insurance wallets to cover any performance reductions or downtime of the hardware  That is one of the key features of PB Mining."

If you're a miner, you're far better off buying your own hardware than trusting these guys.

The biggest problem (beside the chance of being a scam+ponzi) is the fact that you can't resell your power.

So even if you ROI by the end of the year you won't make much after. You could of course invest what you earn or even more to keep up with the difficulty but to me it makes more sense to do that on cex.

For the same reason that scam artists wish to look more legit - your going to get a lot more money looking legit than if you have a giant neon light flashing 'I'm a scam'. Turning them down would really only increase the hype and make people more intent on buying - haven't you seen the effect when people ask you something and you decline to answer. Their curiosity gets the better of them and they cannot help but pester you for an answer. By creating false scarcity people tend to value the asset more even though its not true.

I myself am invested in PBmining, but with some hindsight I don't think it was such a good idea. Even if they are not a scam, I'm doubtful they'll last long enough to fulfill their 5 year contract (although I'd love to be proven wrong).

We just started a cloud mining company, Data Center Mining Co-op. www.dcmco-op.com

We might be small right now but we're consistently paying out BTC to our shareholders and setting up partnerships with suppliers and service providers. Huge growth potential with this venture. At least I hope so, since I invested a sh*tload of BTC in it.

Sorry, that's BS. A *very* simple script can do that.

Anyone know the company's address?  Perhaps from paypal you can get the address if you bought something from them.  I'd like to know more than the website hidden behind cloudflare and the admin's internet provider shaw communications.  I suppose I could phone Shaw and see if they will tell me.  What is the person's name and technical background?  Anyone know if there is any relation between pbmining and dominion bitcoin http://www.dominionbitcoin.com