Topic: Recovery program beginning in January for PB Mining customers. - page 32. (Read 143950 times)

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 ?

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.

It was gone for you when you decided to put it into mining. Even if he didn't pull a runner he would have just essentially given you back some of your money that you gave to him over time, I hope you will be more careful next time.

Such a sad fact.  My retirement went bye bye.

Is that all the money you guys sent him? Weird that he didn't need to spend any of it on miners...

And it's gone because he has it and you don't.

You are wasting your breath mate ... investor respect wont listen to reason, it's his way or no way. As far as he's concerned you support his ideology or you're the enemy.
He has already been accusing me of being Jason Boyko ... I'm not the first, he has previously accused other forum members as well.

Thank goodness this is a forum and the internet and not the real world or vigilante mall ninjas like investor respect would be holding public executions !

Money is not gone.  Check the amount of bitcoin received on this last payout address:

https://blockchain.info/address/1PaydayTAjsppNyoWBUbVmVT2gT9efCjWo?filter=2

From Analyzing the last payout.  You can click as deep as you can on the received bitcoins and you won't be pointed to the original tx resulting from a bitcoin block found (No Inputs).

https://blockchain.info/address/1PaydayTAjsppNyoWBUbVmVT2gT9efCjWo?filter=2

This entire address has been designed to not trace the original source of the bitcoins....infinite source of inputs for anonymity.
Where is this guy getting the bitcoins from is the big question?  
It seems like the our bitcoins still exist but is being withheld from us.  There's enough bitcoins here to return to the original payout as we deserved and invested.

Can we trace other ponzi schemes in progress from this address?

It would be nice if there was a bitcoin address analyzer and graphing program that could basically draw this entire linked list so we can get the bigger picture of where the originating funds really are.

As long as you let him.

The money is probably long gone, but look at what happened in the past to all thep eople who have been robbed and sat around here waiting for an explanation.

Does this mean, that you will pay back all the losses of the last weeks? i have over 6000 GHS with you.....

HOW MANY TIMES CAN YOU POST ABOUT "TRYING TO EXPLAIN" WITHOUT POSTING ANY EXPLANATION!!!! THE LIE THAT HE WANTS TO TELL US IS ALREADY DECIDED ON BY JASON.....THAT FUCKER STOLE MY PURCHASED GIGA-HASH and NOW HE KEEPS THE BTC

They aren't... if you gave any money to pbmining recently, it was used to pay other people in a ponzi. You won't see any return from pbmining.
http://en.wikipedia.org/wiki/Ponzi_scheme

when payments are made? 

btcminer84
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Warning: Trade with extreme caution!

forgive me for pointing out your profile says to trade with extreme caution so therefore I shall believe with extreme caution too!!

PBMining is just a scam ponzi. There is no real payout anymore.

Trouble is, and please feel free to correct me, unless you've got access to wholesale unlimited "next-to-Free" Electricity there's simply no profit to be made from Cloud Mining anymore ... AFAICS there's almost next to zero Profit Margin in it !

Unless of course the million-to-one shot comes in and the price of BTC takes off again in a huge way ...

 

Well, I'm shocked that you came back to post in a forum about your risk/situation. You owe your customers a full explanation with some legitimate 3rd party verification of what you're saying. Think what the reaction would be if Mark Karpeles came back and said he wanted to make things right about Mt. Gox, you're in that same boat. You can say you didn't run a ponzi, but I don't think anyone will believe you, rather I think you'll just incite more anger and distrust. You won't get back additional trust at this point either, so your motives are a true mystery.

hopefully pbmining is buying some actual equipment with its profits to sweep this whole ponzi under the rug.

What is the to recover. Did someone steal your machines? How were you able to pay out for x hashes a few weeks ago but not able to do that today.

Dearest friends at PBmining,

I commend you for your efforts to help your customers. I personally had 3000 GHz invested, and was relying on the payouts as a source of side income while finishing college. With your help, though, I expect my financial burden will be eased somewhat. I wish you all the best, and thank you once again!

xandros