Topic: PBmining - legit? - page 7. (Read 67909 times)

I had broke even overall, and then I just recently doubled up.

legitimacy 

but the payouts keep coming.

All the Canadian customers, which includes me, are currently locked out of buying new contracts.  Assuming they are being honest.  I bet many of the Canadian customers kept buying more contracts anyways, despite the disclaimer, since it is pretty unlikely anyone is verifying where the buyers are from.  I started buying at the beginning of April, then quit as soon as the disclaimer was posted.  Which could have been a blessing in disguise.  My total cost for 150 GH was 0.833823BTC.   I have had 0.6615BTC paid out so far, or 0.677BTC including this week's in progress amount.  So perhaps another month and a half and I will be getting close to reaching the BTC invested.    At which point the weekly payout will be pretty small.

Let's not forget that during the first few months of the year, the bitcoins generated from mining were flowing a lot more generously than they are today.  So a lot of us were more apt to invest that BTC freely and unwisely on a variety of questionable ventures.

I just logged on to their site for the first time in quite a while to make that calculation. I was surprised to see how many more usernames and contracts at all levels have inflated the global stats page since the last time I checked.    Back a couple months ago there were a lot more gaps between different contract levels, with very few at the top.  Making it feel a lot more like a small operation.  Now I see lots of people on there with very big contracts.

The silver lining to this is all the good things that people have done with their weekly BTC payouts to help make the world a better place (ha ha).

I got involved with them back in February I think it was. I haven't done the math but I think I have broke even or am quite close to it. Either way without more transparency I would not recommend them. Payments have been on time etc. but in my 5+ months in the bit coin universe it has been proven that on time payments don't mean the service is legit. 

lol, couldn't agree more
maybe they afraid this ponzi will collapse soon before their investment reach ROI
it's obvious ponzi, paypal verified didn't prove their real identity

Is PBmining legit? Let's see, they left Saskatchewan, Canada, and moved to Iceland without skipping a beat in hashing and payout.



Any more questions?

They stopped lowering prices for GHs because the difficulty change has been next to nothing for awhile...

It's a ponzi that will shut down soon, they stopped lowering price for ghs...this is a sign...less people will buy and there won't be money for old contracts

lol,

You heard it from me first

If anyone wonders why I care so much and have repeatedly pointed out this obvious ponzi is a ponzi, it's because stupid scams like this harm us all.

It mostly preys on noobs (along with a few who should know better)

The owner is involved in the bitcoin mining world so he can talk the talk when needed.

But when the ponzi collapses, all you noobs are gonna go running to law enforcement demanding recompense, and you'll tell everyone you know that bitcoin was a scam, that you were mining and you were robbed.

Ponzis like this are bad for the long term future of bitcoin, and the more people that realise that the better.

tl:dr when you lose your money don't blame bitcoin, blame your stupid greed.

'nuff said... http://www.cryptocoinsnews.com/news/gavin-andresen-suspects-ponzi-schemes-bitcoin-cloud-mining/2014/08/14

I ended up with PBmining, 

i just hope i can reach break even before they left

Remember they were also originally in Canada, but when Canada tried clamping down on bitcoin mining and changed the laws they were "magically" in Iceland.

It must be really hard to move a real mining facility, a fake one can be moved with a few retyped words.

Now u just have to wonder what it'l take for Cloud operations to be 'regulated'... Or is that even possible 

It's assumed a Ponzi because of the fact we don't see TXN ID's, a lot of their "behind the scenes" operations are very questionable. Not to mention that by having others say "I'm getting paid, why do you think it's a Ponzi?" it builds their reputation to attract other customers. The earlier customers get their ROI, but newer customers may not. Because the BTC paid by newer customers feed to the older customers, not to mention they might have a storage of BTC that maybe they stole or something, and are finding a way to "give it out for free" sort of thing. What happens if they stop getting income? Their prices and contract lengths are too good to be true for a legitimate mining operation, unless they're getting free or super incredibly cheap electricity.

I've e-mailed them myself about this, and wanted clarification. I suspect they tossed that e-mail away because they responded to my website improvement suggestions and some other basic info, but nothing about how they operate behind the scenes.

I've gotten my ROI from them in terms of USD value. In terms of BTC, I'm keeping track of that on a sheet. They're a bit more than halfway repaid in my book. It'll take a couple more months until it's repaid in full. After that, any extra BTC I get from them is fine by me, plus any extra GH I get from referrals. I'm moving onto Bitcoin Cloud Services, and checking them out. The operator seems more transparent and more responsive than PBMining's operators, so we'll see how that ball rolls. Their pricing is very similar to PBMining with higher minimum GH orders. We'll see how this goes.

You're all fuckin retarded if you think being paid proves it's not a ponzi.


As for using Paypal, it's easy to use paypal anonymously and withdraw to prepaid cards. You can even use a payoneer card with a fake name if you want to do it with a US verified account.

this piggy got paid, how is it a scam?

Yeah! I agree. Even though most of them know/think pbmining is ponzi knowbody is willing to report against it as pbmining is paying correctly. If there is any person who's business went down because of them, he might report.
Kindly,
      MZ

Well of course they aren't going to track down every fake that they are unsure of...That would take forever, but once someone claims that they were scammed by a user, they definitely look into the issue.

I understand what you meant but I don't think they have the power to track down every fakes. Fakes can be created easily by law-breakers. I am not telling they have no ability but every fakes can't be banned.
Kindly,
      MZ

Neither of them have issues with Bitcoin.  They are the same company so they have the same stand on everything. 

I think we will see Bitcoin integrated into Ebay/Paypal fairly quickly here!(Within 1 year for sure, 6 months or less hoping)

I thought Ebay was not allowing anything to do with Bitcoin?  Or is that just Paypal?  If it's only Paypal that's really weird and I'd think it's only a matter of time before Ebay does the same thing since they are the same company.