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Topic: Recovery program beginning in January for PB Mining customers. - page 31. (Read 143904 times)

member
Activity: 93
Merit: 10
#feelthebern
waiting for recovery program here.

now we are in january.

there isnt one, I dont think the op will come back to this thread like some others mentioned.

Its more like a failed attempt program. Then again, I could be wrong and the op posts sometime this week.

I mean bitcoin is already gone, and cant be recovered while the op can do this all over again with another company name etc. I feel like these events make new comers say bitcoin is a scam.
hero member
Activity: 840
Merit: 1000
waiting for recovery program here.

now we are in january.
member
Activity: 92
Merit: 10
guys, I think its about we give this up lol.

Its pretty sad, and frustrating but theres so much we cant do anything at this point.
newbie
Activity: 54
Merit: 0
@pbmining, if you wait any longer there isn't anything left to recover.....
member
Activity: 109
Merit: 10
Blockpoker Team | Kenneth | Designer
So its already beginning of Jan, and wheres the op now? such broken promises.
sr. member
Activity: 434
Merit: 250
Boyko the overseller are you in jail yet?
legendary
Activity: 1526
Merit: 1000
Interesting guitar man. i wonder why insurance isn't taking care of this horrible situation that somehow caused miners to vanish.
sr. member
Activity: 1512
Merit: 326
pbmining please respond . can you feel tears my friends of homeless alone and not have money anymore . we are the world , we are human . we have family . we have a dreams please dont break it all .
legendary
Activity: 1512
Merit: 1057
SpacePirate.io
Seems they/he/she/robot still has an eBay account... I wonder how long that will last.
http://www.ebay.com/usr/pbmining?_trksid=p2047675.l2559
legendary
Activity: 1694
Merit: 1024
Nice idea Syke ... I never saw a contract though, not sure there ever was one ... If you got one then please share.

I'm not a lawyer, but I certainly had to have an understanding of contract law when I studied management all those years ago.
Even today contracts are a normal part of my business life.
In a nutshell that is
Offer
Acceptance
Consideration
Certainty

Of course there's no "official" contract. This was a "business" run by a novice with no understanding of how to run a legitimate business.

But being the wise scammer he is, he quietly changed the details and deleted posts to hide the conditions promsied.

https://bitcointalksearch.org/topic/m.7692696

Quote
1. Of course we are hashing, otherwise we would be paying our users out of our own pockets and that would eventually make us bankrupt.  We are here to succeed and have paid out our customers on time since our launch.
 
2. There are no mining pool fees to the customer.  We cover our own mining fees from our pool workers which the customer will never have to see.

Instead, the customer is payed based on this fixed formula, taken right from our PHP script:

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

This formula is standard with all Bitcoin Profit Calculators.  Our users do not mine directly with our hardware -- the advantage of this is that we are capable of insuring them during any downtime or performance reductions.  PB Mining guarantees a fixed rate of hash power at 100% efficiency -- a luxury you will not find anywhere else. 

Emphasis added.
I actually emailed PB a few months ago to see if I could get a copy of the actual contract. Here's what he responded to me saying: https://bitcointalksearch.org/topic/m.9791011
hero member
Activity: 616
Merit: 500
Quote
a luxury you will not find anywhere else.

Thankfully.  Grin
member
Activity: 66
Merit: 10
Nice idea Syke ... I never saw a contract though, not sure there ever was one ... If you got one then please share.

I'm not a lawyer, but I certainly had to have an understanding of contract law when I studied management all those years ago.
Even today contracts are a normal part of my business life.
In a nutshell that is
Offer
Acceptance
Consideration
Certainty

Of course there's no "official" contract. This was a "business" run by a novice with no understanding of how to run a legitimate business.

But being the wise scammer he is, he quietly changed the details and deleted posts to hide the conditions promsied.

https://bitcointalksearch.org/topic/m.7692696

Quote
1. Of course we are hashing, otherwise we would be paying our users out of our own pockets and that would eventually make us bankrupt.  We are here to succeed and have paid out our customers on time since our launch.
 
2. There are no mining pool fees to the customer.  We cover our own mining fees from our pool workers which the customer will never have to see.

Instead, the customer is payed based on this fixed formula, taken right from our PHP script:

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

This formula is standard with all Bitcoin Profit Calculators.  Our users do not mine directly with our hardware -- the advantage of this is that we are capable of insuring them during any downtime or performance reductions.  PB Mining guarantees a fixed rate of hash power at 100% efficiency -- a luxury you will not find anywhere else. 

Emphasis added.

I think I'm gonna throw up.
legendary
Activity: 3878
Merit: 1193
Nice idea Syke ... I never saw a contract though, not sure there ever was one ... If you got one then please share.

I'm not a lawyer, but I certainly had to have an understanding of contract law when I studied management all those years ago.
Even today contracts are a normal part of my business life.
In a nutshell that is
Offer
Acceptance
Consideration
Certainty

Of course there's no "official" contract. This was a "business" run by a novice with no understanding of how to run a legitimate business.

But being the wise scammer he is, he quietly changed the details and deleted posts to hide the conditions promsied.

https://bitcointalksearch.org/topic/m.7692696

Quote
1. Of course we are hashing, otherwise we would be paying our users out of our own pockets and that would eventually make us bankrupt.  We are here to succeed and have paid out our customers on time since our launch.
 
2. There are no mining pool fees to the customer.  We cover our own mining fees from our pool workers which the customer will never have to see.

Instead, the customer is payed based on this fixed formula, taken right from our PHP script:

$per24 = ($totalHashingPower * 25 / $difficulty) * (60 * 60 * 24 * 65535 * pow(10,6) / pow(2,48));

This formula is standard with all Bitcoin Profit Calculators.  Our users do not mine directly with our hardware -- the advantage of this is that we are capable of insuring them during any downtime or performance reductions.  PB Mining guarantees a fixed rate of hash power at 100% efficiency -- a luxury you will not find anywhere else. 

Emphasis added.
full member
Activity: 206
Merit: 100
If it was a case of disagreement with a shop, then yes it would be a civil matter. However in this situation the shop has a disagreement will all of its customers and that changes things. Because of the potential size of this and the way it appears to have been structured, there is a much larger set of legal remedies available and potentially criminal too.

The criminal element would be, if it can be proven Boyko knowingly setup a ponzi scheme with the deliberate intention of defrauding the people that invested in it.

That is a common element of the law in many countries, I cannot see it being markedly different in Canada.

Other than that, it appears to be a case of a business, a company failure and as such normal receivership and liquidation under company law would apply.
There are likely to be legal remedies and charges that could be laid against Boyko under Canadian Company Law which could see Boyko being banned as a director and fined and if the offending is deemed severe enough there may potentially be more significant punishments.

This is all pie in the sky at the moment ... Yes, something has gone terribly wrong inside PB mining and we the customers are bearing the brunt of it with the possibility looming of total failure and complete loss. But there is a way to go before we get to that stage.

People can yell and scream as much as they want, but there is a set legal process and procedure that will need to be followed and adhered too to bring the company and it's directors to justice. Baying for blood and making threats is not going to help matters or speed them up.

It appears several approaches to authorities in Canada have been made. Those must now be left to investigate and decide on what actions are appropriate. As much as it sucks, all we can do is wait and see what happens.
sr. member
Activity: 485
Merit: 274

Nice idea Syke ... I never saw a contract though, not sure there ever was one ... If you got one then please share.

I'm not a lawyer, but I certainly had to have an understanding of contract law when I studied management all those years ago.
Even today contracts are a normal part of my business life.
In a nutshell that is
Offer
Acceptance
Consideration
Certainty

To date, PBM are still paying a weekly "consideration" even though it's much less than is desirable, it's still being paid
It could be claimed that there is no "certainty" of the future for the contract, this is moot and yet to be tested, but is likely.

So on that basis, it's going to be a long tough call to prove default of contract, and frankly, I think that at the moment the ability to prove default is lacking because there is a difficulty proving "intent" on the part of Boyko to default.
Once weekly payouts stop or an announcement is made that the agreed 5 year term will not be honored is made, then there will be a clear and potentially provable breach of the contract.
But as the "offer" and the "consideration" have never been defined in "terms of the law" it's going to be a difficult case.

Dunno what the phase would be over there but here (UK) it would probably be classified as a "civil matter".  Same as if you have a disagreement with a shop, you cannot have them arrested for short changing you.  You take them to court and eventually you may get some recompense. 

I think we can kiss the "5 years" goodbye and at best hope they split the remaining Btc proportionally between us.

From now on, getting your knickers in a twist that "he said this but did that" is as useful as posting your account details.
legendary
Activity: 1526
Merit: 1000
As long as he pays something he is not reneging on your contract

Not true. Contracts were sold with a specific payout formula. He is no longer adhering to the original payout formula, therefore he is violating the contracts.

Nice idea Syke ... I never saw a contract though, not sure there ever was one ... If you got one then please share.

I'm not a lawyer, but I certainly had to have an understanding of contract law when I studied management all those years ago.
Even today contracts are a normal part of my business life.
In a nutshell that is
Offer
Acceptance
Consideration
Certainty

To date, PBM are still paying a weekly "consideration" even though it's much less than is desirable, it's still being paid
It could be claimed that there is no "certainty" of the future for the contract, this is moot and yet to be tested, but is likely.

So on that basis, it's going to be a long tough call to prove default of contract, and frankly, I think that at the moment the ability to prove default is lacking because there is a difficulty proving "intent" on the part of Boyko to default.
Once weekly payouts stop or an announcement is made that the agreed 5 year term will not be honored is made, then there will be a clear and potentially provable breach of the contract.
But as the "offer" and the "consideration" have never been defined in "terms of the law" it's going to be a difficult case.

* hey, investor respect, is that enough for you to accuse me of being Jason Boyko again ??
If it's not, let me know and I'll try and do better next time OK ?

According to this insane logic the Yankees would be able to pay A-rod the minimum salary this year instead of the 21 million they agreed to because  they are still giving him consideration.

He said he would give you the payout from x hashes, he isn't, he is a scamming scammer. If you can't see that please find someone to manage your money and your life because it's all going to be gone soon.
legendary
Activity: 980
Merit: 1040
Consider one of the oldest scams ... the shell game ... everyone knows it's a scam and it cannot be won, but it's still around today ...

Not that it has anything to do with unregistered securities whatsoever, but being around doesnt make legal: http://articles.latimes.com/2009/dec/10/local/la-me-shell-game10-2009dec10

Quote
When it comes to the law and specifically a trial ... There is very little truth in a courts of law, it all come down to who tell the best story ... The better lawyer wins !

Tell that to trendon shavers.
hero member
Activity: 616
Merit: 500
The more of this kind of psycho garbage that gets away

the more this whole fucking marketplace will go down the

crapper. That´s why I keep saying that a message has to

be sent to improve marketplace behavior. The way to deal

with garbage is not to pile it up in your kitchen, right ?

You take it out.
full member
Activity: 206
Merit: 100
I hope you dont actually believe its that easy to scam people without breaking a bazillion laws.
I'll just (re)state the most obvious, since PB was claiming to get its revenue from "other sources": selling of unregistered securities. Thats all you need to demand a full refund.
Consider one of the oldest scams ... the shell game ... everyone knows it's a scam and it cannot be won, but it's still around today ...
When it comes to the law and specifically a trial ... There is very little truth in a courts of law, it all come down to who tell the best story ... The better lawyer wins !

* Any better investor respect ? Want to name me as Jason Boyko again ?
jr. member
Activity: 51
Merit: 251
No hope for him to give back our bitcoin  Sad

I hope him will get a lot of misfortune in rest of his life
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