Quote from: MichaelNZ on December 08, 2014, 03:38:41 AM

I have 4500 GH/s and my current balance is 0.00576576 which is around 1/10 or 10% of where I would expect for a full day.

BUT ... I'm still prepared to give them the benefit of the doubt until I hear from them that I should be worried.

All I've seen so far is a load of hotheaded reaction and conclusions leapt to without any solid evidence.

Let PBM come to the table and explain to us what is actually going on.

We know what's going on, they're running a ponzi. That's why they flat-out refuse to provide any evidence of legitimacy.

Read up on Bitcoin Difficulty Derivative (BDD) and you will learn how to operate a cloud mining service without needing actual miners. This is why it is absolutely essential for cloud mining operators to provide evidence of their legitimacy.

BDD basically has 2 components, MINE and SELL. SELL has always been vastly more profitable (B.MINE=71.87% vs B.SELL=874.51% yield on Havelock) due to the size of the difficulty increases. Now, imagine running a service like that and keeping the SELL component for yourself and only allowing people to purchase the MINE component. That is essentially how you run a cloud mining ponzi.

Cloud mining ponzis like that will collapse once the difficulty increases drop below a certain threshold. With the recent low difficulty increases, some of the ponzi schemes may not have paid out as much as expected due to the above.

It's obvious what's going on, people just don't want to believe it though.