Recovery program beginning in January for PB Mining customers. - page 8.

Glucose

hero member

Activity: 861

Merit: 1001

Quote from: Phildo on February 14, 2015, 01:55:12 PM

Quote from: GonnaGrinditout on February 14, 2015, 01:31:38 PM

It's strange: they still pay but almost nothing...and they still sell contracts.

Why would they stop? People giving them money is good for them, and the dust payments have convinced at least some of the marks to not seek out help from the authorities.

They don't sell anything : "Our hash power is currently sold out. ".

Received my usual dust money..

omega_man_13

newbie

Activity: 8

Merit: 0

OK, I got question.

I'm in the US, got screwed over for about 10btc out of this, which was a significant portion of personal savings,(sorry, I'm not I'm not rich guy.). Anyway, it's tax time and I'm trying to figure out if I can write this off as a loss on my taxes, and If so how? Would having a police report in hand help, especially since it falls basically into theft or as an Un-licenced security.

Specifically, I had cashed out a savings account from an old job, and just got the tax information on it, which NOW I get to try and pay back with the bullshit dust coming in each week or two. I had just bought into the account, shortly before he crashed it, and had a while left before the imaginary ROI point.

Hanslo

sr. member

Activity: 263

Merit: 250

Looks something sent, but not received to my wallet yet

alienesb

hero member

Activity: 868

Merit: 1000

Got some dust today

Muhammed Zakir

hero member

Activity: 560

Merit: 509

I prefer Zakir over Muhammed when mentioning me!

Quote from: virtapayseller666 on February 15, 2015, 04:28:01 AM

Quote from: GonnaGrinditout on February 14, 2015, 01:31:38 PM

It's strange: they still pay but almost nothing...and they still sell contracts.

yes its strange received 37000 sat this week
they are paying but its not worth

For me, I don't remember I get anything from them for some weeks now but their payputs are indeed like faucet payouts!

-MZ

virtapayseller666

sr. member

Activity: 294

Merit: 250

Quote from: GonnaGrinditout on February 14, 2015, 01:31:38 PM

It's strange: they still pay but almost nothing...and they still sell contracts.

yes its strange received 37000 sat this week
they are paying but its not worth

mkc

hero member

Activity: 517

Merit: 501

My pennies are missing for the last two weeks. LOL

galdur

hero member

Activity: 616

Merit: 500

It´s about done. He has been dropping payments up the list or so it seems. I was history three weeks ago. Now maybe the top 5-10% of contracts if that are left to receive some dust.

MichaelNZ

full member

Activity: 206

Merit: 100

Where are you seeing the page that allows you to buy a contract from PBM ?

The website I'm looking at says in big red letters that hash power is currently sold out ... I'm struggling to read that in a way says it's available ... Your interpretation may vary of course.

jarvanIV

full member

Activity: 151

Merit: 100

Quote from: Phildo on February 14, 2015, 01:55:12 PM

Quote from: GonnaGrinditout on February 14, 2015, 01:31:38 PM

It's strange: they still pay but almost nothing...and they still sell contracts.

Why would they stop? People giving them money is good for them, and the dust payments have convinced at least some of the marks to not seek out help from the authorities.

maybe the operator just got tired, and being far too lazy to keep up with endless promos and ways to get more deposits in lol.

who knows..really. pbmining could of milked so much more though.

Phildo

legendary

Activity: 1526

Merit: 1000

Quote from: GonnaGrinditout on February 14, 2015, 01:31:38 PM

It's strange: they still pay but almost nothing...and they still sell contracts.

Why would they stop? People giving them money is good for them, and the dust payments have convinced at least some of the marks to not seek out help from the authorities.

cazkooo

legendary

Activity: 1540

Merit: 1013

Quote from: GODLIKE on February 14, 2015, 12:22:50 AM

Quote from: Glucose on February 12, 2015, 06:43:15 AM

Quote from: |Bitcoin| on February 12, 2015, 04:54:08 AM

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

Lucky you. Trust me, don't give it a go even if PB comes back and pay back some customers.. Wink

. Try to avoid all ponzi in the future (I recommend you this thread : https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387)

I still got nothing back, he's just teasing and hoping some people send him more money.
I'm getting paid every week or two some 0.00006 BTC.
This is not really a ponzi.
It was like this: as the difficulty of mining was increasing, he could count on giving less and less money back to customers.
But he faced the wall when the increasing in difficulty stopped and went back.
He had to pay more to the customers but as he didn't really buy any infrastructure to mine, he was fucked up by the cloud mining services he himself used.
Ironically, if he invested those money for buying some mining hardware, he would have gone very well when the mining difficulty decreased.
I hope this piece of shit will spend all those money in doctors.

even if PBmining started refunding, i bet no one will still be a part of this ponzi anyway, nowadays people are smarter than the previous year

Quinn

full member

Activity: 168

Merit: 100

80 pages deep, pls. Its been a ponzi since the math didnt add up to the actual cost of maintaining a facility and other details of cost.

GonnaGrinditout

member

Activity: 94

Merit: 11

It's strange: they still pay but almost nothing...and they still sell contracts.

Puppet

legendary

Activity: 980

Merit: 1040

Quote from: GODLIKE on February 14, 2015, 12:22:50 AM

This is not really a ponzi.

The common definition of a ponzi: a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.
That is precisely what you are describing. The reason you think PB was "not really" a ponzi is because you also (incorrectly) assume the plan was not to maximize ponzi profits, but actually pay out investors according to difficulty- which potentially could have worked. As in: heads I win, tails you lose.

The problem is that this was never even the plan. At least until one month prior to the collapse, the numbers clearly showed pb was still taking in more new revenue than it was paying out. So it didnt collapse because pb ran out of money, it collapsed because he ran out of new money, he had maximized his profits.

IOW, it really was just a ponzi.

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

Quote from: Glucose on February 12, 2015, 06:43:15 AM

Quote from: |Bitcoin| on February 12, 2015, 04:54:08 AM

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

Lucky you. Trust me, don't give it a go even if PB comes back and pay back some customers.. Wink

. Try to avoid all ponzi in the future (I recommend you this thread : https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387)

I still got nothing back, he's just teasing and hoping some people send him more money.
I'm getting paid every week or two some 0.00006 BTC.
This is not really a ponzi.
It was like this: as the difficulty of mining was increasing, he could count on giving less and less money back to customers.
But he faced the wall when the increasing in difficulty stopped and went back.
He had to pay more to the customers but as he didn't really buy any infrastructure to mine, he was fucked up by the cloud mining services he himself used.
Ironically, if he invested those money for buying some mining hardware, he would have gone very well when the mining difficulty decreased.
I hope this piece of shit will spend all those money in doctors.

Glucose

hero member

Activity: 861

Merit: 1001

Quote from: |Bitcoin| on February 12, 2015, 04:54:08 AM

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

Lucky you. Trust me, don't give it a go even if PB comes back and pay back some customers.. Wink

. Try to avoid all ponzi in the future (I recommend you this thread : https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387)

|Bitcoin|

sr. member

Activity: 320

Merit: 250

I was about to buy 20 GHs for testing and I read some comments in the internet saying they are not mining. I found this thread sometime later. Thought if they pay their users back, I might give it a go but..

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: krle27 on February 12, 2015, 02:19:32 AM

Days past, no more interesting for pb minning.... everything is a dust...

its pretty hard to did a legal thing to this kind of operations anyway, im pretty surprised this pbmining things survive this long, i thought it could end at least at the middle of august

krle27

newbie

Activity: 31

Merit: 0

Days past, no more interesting for pb minning.... everything is a dust...

Topic: Recovery program beginning in January for PB Mining customers. - page 8. (Read 143904 times)