PBmining - legit? - page 33. | Bitcointalksearch.org

iflash

member

Activity: 69

Merit: 10

Quote from: bitterdog on April 01, 2014, 12:28:05 AM

Every single post by you since you got out of beginner jail has been about PBmining.... 31/33 ... yeah ok

So?

As I have quite a bit of BTC with them, this is one of my favorite interests regarding bitcoins.

Are you suggesting that I am from pbmining myself or what?

Look at my first posts here. I was kinda noob back in November/December, but still clever enough to sell right at 1.000 USD cause I was one of the few that saw what is was: a bubble and nothing else.

Now part of the money I made I decided to put into another risky asset: pbmining. Maybe I am less lucky than last December …

But never suggest again that I belong to a potential fraud, Mister. Understood?

xdmlaser

member

Activity: 84

Merit: 10

Quote from: iflash on March 25, 2014, 07:58:04 AM

Little update: I am now at 2.3 BTC paid out so far. Which means that I have still 6.6 BTC to go before ROI. Fingers crossed ... :-)

What came as a bit of surprise: The payout last Sunday was higher than the week before. I wonder how that could be. Wasn't there a diff raise in between? But maybe I mix things up.

I also noted that they have done a little bit of work on their page. Nothing super fancy but still some improvements in the back end. Maybe that's wishful thinking but a thought stroke me: It this is a ponzi: Why would they even bother to enhance the user experience in the back end? It just means work for them with no benefit selling more. Just a thought ...

I will keep everybody updated on the progress next week again. Until then if anybody wants to risk investing there, using my ref code is highly appreciated: http:/pbmining.com?ref=iflash11

Happy mining,

iFlash

Yes I noticed that too, I have 125GH on pbmining, but that payout was really late for me like 11pm eastern, when the week before was about 2-3pm, so that extra 8hrs or so I think is what made the week slightly higher.

arsha99

newbie

Activity: 10

Merit: 0

I guess its good but....... It is always down or very freaking slow. Thats why I would use http://scrypt.cc For scrypt cloud mining.

tempestb

hero member

Activity: 729

Merit: 500

You're not understanding the concept...

Let's say PBMining sells you a mining contract for $100.

Sunday comes, you earn $10
Another Sunday comes, you earn $10
Another Sunday comes, you earn $10

You say, "This is great, I'm going to put more money in and buy another contract!"

You pay another $100 for a new contract.

Sunday comes, you earn $20
Another Sunday comes, you earn $20

...And then in theory, if it's scam (Which I'm not saying it is) PBMining then vanishes.

So you got payouts that equaled = $70
But you paid $200 for contracts.

So you lost $130.

That's the fear of a Ponzi scam, they get a bunch of money in, until the Ponzi isn't sustainable to pay everyone, and so they stop paying out, take the rest of the money and split.

And this is why it's good to see hardware and have assurances that they actually are in business, exist, and have the resources they say they do, etc.

CrackedLogic

legendary

Activity: 1050

Merit: 1000

it is a legit site, I get my payouts every sunday Grin

amprocket

jr. member

Activity: 70

Merit: 2

Quote from: STT on April 01, 2014, 12:58:55 AM

Quote from: Doktor-X on February 24, 2014, 05:01:01 AM

i have buy my first 1 gh/s on Saturday and let i't working and on Sunday after one day i have recive payout of 0.00015064 btc so i say site is legit Wink

So how much the going rate to hire 1gh for a day or whatever you did

You can't hire it for a day, it's 5 year contracts, for 1GH/s it'll cost .007 btc, about $3.40, you get paid what your GH/s generates every sunday.
That's $3.40 in total for 5 years, not a weekly or monthly fee, it's a 1 off fee, no extras added on.

STT

legendary

Activity: 4088

Merit: 1452

Quote from: Doktor-X on February 24, 2014, 05:01:01 AM

i have buy my first 1 gh/s on Saturday and let i't working and on Sunday after one day i have recive payout of 0.00015064 btc so i say site is legit Wink

So how much the going rate to hire 1gh for a day or whatever you did

bitterdog

hero member

Activity: 728

Merit: 503

dApps Development Automation Platform

Quote from: iflash on March 25, 2014, 07:58:04 AM

Little update: I am now at 2.3 BTC paid out so far. Which means that I have still 6.6 BTC to go before ROI. Fingers crossed ... :-)

What came as a bit of surprise: The payout last Sunday was higher than the week before. I wonder how that could be. Wasn't there a diff raise in between? But maybe I mix things up.

I also noted that they have done a little bit of work on their page. Nothing super fancy but still some improvements in the back end. Maybe that's wishful thinking but a thought stroke me: It this is a ponzi: Why would they even bother to enhance the user experience in the back end? It just means work for them with no benefit selling more. Just a thought ...

I will keep everybody updated on the progress next week again. Until then if anybody wants to risk investing there, using my ref code is highly appreciated: http:/pbmining.com?ref=iflash11

Happy mining,

iFlash

Every single post by you since you got out of beginner jail has been about PBmining.... 31/33 ... yeah ok

controls

newbie

Activity: 13

Merit: 0

No issues here so far, invested just under 100 gh/s. They have responded to every email I have sent and sent payments like clockwork on Sundays.

Cheers,

DanGilmore

member

Activity: 70

Merit: 10

I ordered 5Gh/s at pbmining. But I had an issue with my wallet.
The result was that i couldn't pay... so I wrote them an email.
I got an nice answer right away, even thought it was sunday Shocked

So I didn't try their mining sevice BUT the support is amazingly quick and helpful!

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

Quote from: bayu41 on March 31, 2014, 12:23:59 AM

I think thats site is legit...

Cool story bro

bayu41

newbie

Activity: 39

Merit: 0

I think thats site is legit...

amprocket

jr. member

Activity: 70

Merit: 2

They have moved the servers, it can take 48 hours for the dns settings to propogate.
Try clear your cache maybe, or try this address https://pbmining.com

Wattda

member

Activity: 64

Merit: 10

I have been on the sideline reading all the post. I bought early and am sitting around 150. I have tried for two days to log in to my accounts to no avail. I just tried now and I got in. I don't think it is the end yet but I wonder if I am really talking to anybody out there or there cronies.
LOL
Wattda

p.s. except Mr P Wink

botolo86

full member

Activity: 200

Merit: 100

I have started reading this thread https://bitcointalk.org/index.php?topic=418183.260 and these guys seem to put a lot of efforts in their website and they are always available to help. If this is a scam, it is very well planned and managed.

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

Quote from: botolo86 on March 25, 2014, 11:58:43 AM

Another way of thinking is that pbmining is just taking advantage of the low profitability of mining nowadays. As long as they keep the price of GHS higher than its profitability, they can just get bitcoins and give only a portion of these bitcoins back as alleged mining profit.

Let me give you an example.

They are currently selling 1 GHS at 0.0075 BTC. According to bitcoinwisdom.com BTC calculator, 1 GHS starting to mine today will not breakeven at that price. After 510 days, it will have made 0.00742435 BTC. After all those years, even if they give you back the money you deserve with mining, they are still keeping 0.00007565 BTC per GHS sold.

Also, this is an easy way to get a loan for them at zero interest that they can pay back in five years.

Bitcoin wisdom says no machine will ever break even.

They're pretty pessimistic on mining in general.

http://www.bitcoinx.com/profit/

Says you'll break even after 73 days

botolo86

full member

Activity: 200

Merit: 100

Another way of thinking is that pbmining is just taking advantage of the low profitability of mining nowadays. As long as they keep the price of GHS higher than its profitability, they can just get bitcoins and give only a portion of these bitcoins back as alleged mining profit.

Let me give you an example.

They are currently selling 1 GHS at 0.0075 BTC. According to bitcoinwisdom.com BTC calculator, 1 GHS starting to mine today will not breakeven at that price. After 510 days, it will have made 0.00742435 BTC. After all those years, even if they give you back the money you deserve with mining, they are still keeping 0.00007565 BTC per GHS sold.

Also, this is an easy way to get a loan for them at zero interest that they can pay back in five years.

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

Quote from: iflash on March 25, 2014, 11:55:59 AM

Quote from: MrPiggles on March 25, 2014, 11:51:59 AM

So with the $2700 left out of the $4000 you gave, they are spending $5000 a week on advertising on this forum, as well as upgrading all their hardware to the latest gear, whilst paying yourself a hefty chunk of bitcoins too?

I don't know how their business plan looks like (if they have one):

But consider this: I think we can agree that there *are* legit pool mining companies out there, huh? How would they do it? Or is *every* pool mining a scam in your eyes?

Most of them charge a lot more, are open about where they mine, will post pictures of their mining equipment, are public about their identity and pay you direct from mining pools.

PBmining's prices are too good to be true, they won't say where they mine, won't post pictures of equipment, won't reveal their identity and they pay you with laundered coins.

Their identity isn't that hard to figure out though, a determined internet sleuth could do so. I'm just waiting to see if it goes tits up before I say anything.

iflash

member

Activity: 69

Merit: 10

Quote from: MrPiggles on March 25, 2014, 11:51:59 AM

So with the $2700 left out of the $4000 you gave, they are spending $5000 a week on advertising on this forum, as well as upgrading all their hardware to the latest gear, whilst paying yourself a hefty chunk of bitcoins too?

I don't know how their business plan looks like (if they have one):

But consider this: I think we can agree that there *are* legit pool mining companies out there, huh? How would they do it? Or is *every* pool mining a scam in your eyes?

MrPiggles

sr. member

Activity: 980

Merit: 256

Decentralized Ascending Auctions on Blockchain

Quote from: iflash on March 25, 2014, 11:49:44 AM

You calculations assume that they run the same gear over the whole time. That would be a stupid thing to do. It, of course, can only work if they upgrade their mining power.

I mean: Today, 1 TH/s sounds like a pretty decent mining power unit. But in a year from now, I bet you that there is hardware at a fraction of todays prices and with lower power consumption that does the same trick.

Therefor I simply assume that they upgrade their gear i.e.. selling old stuff and buying new stuff on a regular basis.

Otherwise it simply does not work.

So with the $2700 left out of the $4000 you gave, they are spending $5000 a week on advertising on this forum, as well as upgrading all their hardware to the latest gear, whilst paying yourself a hefty chunk of bitcoins too?

Topic: PBmining - legit? - page 33. (Read 67922 times)