Quote from: dyask on July 20, 2014, 10:14:03 AM

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Quote from: Harley997 on July 13, 2014, 06:10:36 AM

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Quote from: Harley997 on July 12, 2014, 01:45:14 AM

Quote from: joshraban76 on July 11, 2014, 12:16:53 AM

I bought into this a few days ago. I only bought 100 GH/s because I have this feeling that I wont really make anything on it. In fact I would be happy to see just break even in 5yrs. It all depends on the difficulty not increasing drastically I think. This term it doesn't look like it is predicted to be a big increase so I shouldn't see a big drop per day. If we get a few terms with bog increases I may not have any chance to ever make it back. Either way it will be an experience that I will learn from one way or the other.

This is the problem with buying such a long term investment in cloud mining or any type of mining for that matter. As it is now the difficulty is doubling roughly every two months, in other words your expected revenue is going to half every two months (assuming that your provider does not charge any kind of ongoing maintenance fee, if it does then your drop will be more every two months). The later part of your contract will see very few results.

My thinking was with the .3btc i spent on this contract... What could I have bought really to get into mining with such little funds. I mean, for me to buy a miner doing 100gh/s would cost me more then .3btc. I will still only get 100gh/s so all I am losing is the paper weight after it costs more to run then it can get mine in coin, which I imagine wont be long. Like I said it is more of an experiment for me. I will not be reinvesting along the run I am just curious if it will eventually give any roi at all.

https://bitmaintech.com/productDetail.htm?pid=00020140704023505485N5SxDMkW0693
Bitman AntMiner S3 costs .725 BTC that runs at 478 GHs, or ~ .15 per 100 GHs.

Granted you do not have to pay for electricity, however I don't think that the electric cost would add up to be 1/2 of the cost of the machine.

That miner isn't shipping yet. And even so you will a lot more on power for 5 years than the price of the miner. It draws 366 watts! Let's say you have very cheap power $.05/kilowatt. That would be ((366 * 24) / 1000) * $.05 / day = $.44 / day. Over 5 years that is $803 which is currently 1.27 BTC.

So even with very cheap power you are looking at .75+1.27 or 2.02 BTC. 2 BTC / 478 is .004184 BTC

So if PBMining were legit they would be either charging a fee for power or charging a LOT more per GH/s.

We also know they aren't charging a fee for maintenance because they have been basically returning the theoretical maximum BTC that can be mined. So something isn't right and the math doesn't support them.

For the record you can by cloud mining cheaper than what PBMining charges, but there is a fee for power taken out on a daily basis. An example it the PETA shares at HavelockInvestments. Each share is 1 GH/s of mining and the current cost is about .0027 per share. It is a free market price so it goes up and down all the time, well mostly down. You get paid daily.

You made a good math right there. Maybe you have any idea where to invest my btc? Any legit cloudmining sites out there?

I was about to invest in pbmining and all i can see its a ponzi scheme.

I've been buying/selling B.Mine & B.Sell on HavelockInvestments.com a lot. It isn't real but they clearly tell you that.

What does this page basically do? If you want you can private message me.