Quote from: MrTeal on October 17, 2014, 09:32:28 PM

Quote from: 1Referee on October 17, 2014, 08:36:14 PM

Quote from: RD965 on October 17, 2014, 07:09:08 PM

Quote from: JohnnyBTC on October 17, 2014, 06:57:12 PM

Quote from: RD965 on October 17, 2014, 05:00:13 PM

Quote from: PBmining on October 16, 2014, 11:04:20 AM

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I emailed PBMining on Tuesday and still no response.

I like this one. When he posted this it was Wednesday. Our support is faster than most, I thought. Just not fast enough! Wink

What about proof of the mining that is going on? Roll Eyes

ya they have been around for a whole year and still no proof wtf! how do we know they arent giving us profit from a different investment like a stock or something. we want PROOF!

With those prices theres definitely something funny going on. Im not putting money into this until theres some proof

Do you actually know what PBmining offers ?

They sell contracts that let you mine for five whole years, the prices are normal for the kind of product they offer.

The proof is that people are getting their payments every week, and this since January.

He's saying the offer is too good. Right now they are charging $0.60 per GH/s for a 5 year "guaranteed" contract. Out of that, they have to pay
1. Capital cost of the equipment
2. Capital cost of the facility its housed in
3. Maintenance and replacement of failures for 5 years
4. Power for 5 years
5. A normal profit

Just look at the power cost: Even if they somehow average 0.2J/GH/s over that time (3.5x better than anything on the market) and pay $0.04/kWh, that's 8.76kWh and $0.35 in power. Equipment costs are similar, even in bulk that's another $0.30/GH/s. That's just the initial investment in equipment, it says nothing of the additional investment needed to keep pace with efficiency.
If they are doing what they claim which is actually operating the hashrate they're selling, there's no way they can do so and still make money. If they actually are in Saskatchewan as they claim, the numbers are even worse as you won't get power anywhere close to $0.04/kWh.

Spondoolies charges $0.653/GH/s for hardware (with November delivery) and $0.20/GH/s for 3 months of hosting
KnC charges $0.6225/GH/s, for 6 months of cloud mining
Cointerra charges between $1.75(for a $3500 order) and $1(for a $1M order) per GH/s for a 12 month contract, and it doesn't start hashing until the new year.
Hashnest currently sells for 0.001125฿/GH/s, but they only pay out profits after expenses are paid, and will close the mine if expenses > income.

All of those entities also make their own ASICs and have demonstrated multiple PH/s of gear where they would be getting the lowest possible prices. All of them charge considerably more than PB Mining. You could say they are gouging people, but if is deal is too good to be true it probably is. That's doubly true when they claim to be powering over 1% of the network, but have never demonstrate any mining equipment or mining revenue, but have demonstrated repeatedly paying dividends with incoming customer money.

Thank you for the detailed numbers, very interesting to see the differences.

I think the people that buy these contracts are well aware of the risks, and as with all investments, risk is not something you can put aside.

People are satisfied as PBmining delivers week on week payments, and I'm sure they will do so in the future as well.

It's up to PBmining to decide whether they will demonstrate their hardware or not, for me personally it won't change anything.