Quote from: Group Bitcoin on December 13, 2014, 04:28:01 PM

Quote from: UKBC on December 13, 2014, 03:17:30 PM

My first ever message on here was abut Group Bitcoin and wanted to change a few things now because sme time as passed and I did get my payments sorted out. So this company or service does pay on time now and have done for a few months now.

I still have one more thing to sort out. These were the first mining company that I ever put money into but compared to the prices these days I still don't understand how me paying neary £93 pounds for. I've time contract for only 50 GH/S is even profitable cobcidering I am getting around 75p a month in Bitcoins.

I feel I can trust you guys now as time= trust in my books but the fact remains I am not going to get my investment back for 9 years. I would have sunk my £600 in to your company instead of pbmining if you had sorted out my payments.

I actually would like to invest in you again if you messaged me or posted on here to sort out my payments because 9 years is bad to get an investment back. Cobcidering I got back in 4 months 30 percent of what I invested in to PB.

You seen my comment in another thread so would like you to reply please if possible.

We actually buy and run mining hardware which seems to be a rather novel idea within cloud mining these days.

Unfortunately electricity in the UK is very expensive we have a great deal at 12p per Kwh but even at that rate we barely break even when you add rent/cooling we're now running at a substantial loss and looking for cheaper premises.

Mining in the UK is finished unless you get/steal free electricity.

We're finished now and haven't accepted new customers for a while, we'll just be running the 12 month contracts for the duration specified and the indefinite ones for as long as they cover their running costs, which they're now falling bellow.

It's a shame really, we started in October 2013 everything was looking great then the network went from 0.9PH to well over 200PH in a few months.

It's only possible to mine in the cheapest electricity areas in the world like Washington but even then it'll be difficult to ROI on the hardware costs, if we had gotten to the size of PB we would have considered moving to a cheaper country.

Mining is now for hobbyists and companies like KNC, Bitmain and Cointerra they can get cheap hardware they build it and run it on an industrial scale.

Well a very Happy New Year 2015 to all at Group Bitcoin Grin

I can imagine you might be having a day off today all things considered ... however if you would be so good as to get around to sending out this month's BTC's I'd very much appreciate it Cheesy

From my point of view I'm obviously glad the Difficulty has remained fairly constant over the last couple of months and also that the range of the BTC price hasn't dropped any further than it did back at the beginning of October !

BTW Sorry to hear you're looking for new premises now ...