I've been closely watching the BTC market since the beginning of this year ... After I'd done the research I was going to buy a TM iv from CT, but because of the crappy way they choose to do business coupled with all the other manufacturers dumping Peta hash after Peta hash into the market the difficulty rate skyrocketed into stupidity.

In Feb 2014 a 2.0 Th/s BTC miner was looking at $75-90,000 income, ROI in a few weeks

After Mt Gox went belly up, the arse really dropped out of the market and BTC/USD fell constantly to the pitiful levels we see today ... Yes people will say the price was over inflated and is now at it's correct level ... Maybe that is true, but the trigger that saw the start of the fall was Mt Gox.

Today it would be pointless to even turn on that same 2.0 Th/s miner because the cost of electricity to run it is more than it makes each day, week, month.
In fact even if you were lucky enough to get a "good" miner out of CT, you did your dough, it will never make back the money you spent on it.

That is why all cloud miners as far as I can see over sell their available hash power ... There is no way they could mine enough to cover all their costs and make a profit from it unless they over sell ... Does that make them a ponzi scheme ? Well, yes and no ... As far as I can see they are all at it, what it relies on is the company maintaining it's reputation and attractiveness to customers so they continually support it.

What it looks like has happened with PBM is that a number of people goxed the crap out of every man and his dog and because of that, the reputation of the company was lost completely, so no more money coming in to maintain the scheme.

It is now obvious that Boyko was rampantly overselling whatever actual amount of hash power that was available ... perhaps as much as 100 times oversold and that is why PBM failed.

Had Boyko taken a more conservative approach and invested in more hash power as funds provided then PBM may have still been operating today.

I can only speculate as to his motivation, but I'd suggest he became blinded by the numbers and couldn't help himself ... basically, stupid boy !