Bitcoin Forum

New project listed at https://cryptostocks.com (https://cryptostocks.com)
Direct url - https://cryptostocks.com/securities/24 (https://cryptostocks.com/securities/24)

Description: The purpose of the Pyra-Proxy BTC project is to allow those parties interested in Pyramining to pool their resources and create a conducive environment where they can enter and leave participation at will while still having the opportunity to participate in the pyramining model of mining.

Pyra-Proxy BTC will establish a permanent presence in the Pyramining ecosystem with appropriate reinvestment to maintain and marginally grow its stake while simultaneously providing maximum dividends to project constituents to keep the project viable.

INVESTMENT PLAN (PRE PYRAMINING ASIC IMPLEMENTATION)

Prior to the Implementation of Pyramining ASICs this project shall invest only in the top 2 tiers at a ratio of 1:2, investing in 3 BTC or higher quantities. In tier 1 the funds will be directed at FPGA mining to allow for some dividend income to start accruing. In tier 2 the funds will be directed at ASIC pre-purchase allocation allowing some bonus to benefit tier 1 but aimed at providing maximum performance when Pyramining ASICs are release.

The pre ASIC phase also supersedes the reinvestment model, whereby 90% of pyramining pay outs are redirected to tier 1 and 10% is taken for dividend dispersion and 0% administration fee.

INVESTMENT PLAN (POST PYRAMINING ASIC IMPLEMENTATION)

Pyra-Proxy BTC will invest all resources into a 4 tiered Pyramining cluster to maximize reward and benefits from the Pyramining model. Investments will be added in whole BTC increments. Initial resource induction will seed all 4 tiers at a ratio of 1:2:4:8 to maximize mining bonuses and speed the time when dividends can be made.

Upon receipt of Pyramining payments the reinvestment and dividend take plan active at the time will be implemented within 48 hours.

The Pyramining top level account will be made public so that any participants or prospective participants can fully audit current and past performance as well as verify that the program is operating properly within the given charter.

REINVESTMENT AND DIVIDEND PLAN

90% of pyramining payments will be reinvested in the 4th tier as soon as the total is greater than 1 BTC 10% of pyramining payments will be redirected as a dividend take less 5% of the dividend take for administration fees, these will be paid within 48 hours of payment.

Non-voting planned adjustment to this structure immediately following the first pyramining payment received after 1 BTC has cascaded sequentially through each of the 4 tiers.

The new plan at this time will be 60% reinvestment into the 4th tier and a 40% dividend take less the 5% of dividend take for administration fees

All future amendments to this plan will require majority vote by the programs participants.

CURRENCY TRADING FOR PROFIT GENERATION

This program is not designed to reap gains through the currency trading and only deals directly in BTC assets.

PROGRAM SOLVENCY

Pyra-Proxy BTC will remain viable so long as 2 environmental conditions are true. 1-Cryptostocks is active and allowing for continued operation; 2-Pyraming remains a viable mining operation.

In the event of a collapse of BTC and/or a failure of the conditions above, the administrators will attempt within reasonable power to proportionally disburse cryptocurrency units to the program participants as they become available with 0% reinvestment and 0% administration fee.

So you're a Pyramid Scheme Passthrough?

No pyramid scheme, pass through... not sure that's quite a fully accurate description either

Do you perchance know any sailors? Preferably with eye patches or peg legs?

Ohh, the next BS&T! Sign me up!

How much interest rates are you offering? 17% weekly?

Also shorting PYRPXYBTC stocks.

Actually this is invested in pyramining there is no interest, the comparison you refer to is invalid.  Dividends are paid from the pyramining pay outs.

Don't be silly, he's a pyramid scheme pretending to be a pyramid scheme passthrough for a pyramid scheme that's pretending not to be a pyramid scheme.

To whoever thinks pyramining is a pyramid scheme: you didn't understand anything. Nobody is asking you to invest here. At least stop polluting with false/incorrect statements.

MLM, pyramid, tomahto, tomayto...

AFAIK this is the only mining company that it's regularly growing and paying dividends to all members, and where investors didn't lose any satoshi.

First round of initial investments have been entered into the Pyra-Proxy BTC pyramining accounts. And thanks for the excellent show of support thus far, with initial program participation quickly rising to 9 BTC.

Here is the top tier account for full auditing capabilities: http://pyramining.com/account/browse?id=scpk9az3 (http://pyramining.com/account/browse?id=scpk9az3)

Again thanks for the support and in time I hope this helps us all and the general btc ecosystem!

The tier 2 account was seeded but asic deposits currently don't show up on the account browser panes in pyramining, I did make a request for that info to be displayed however.  In the meantime, here is the initial tier 2 deposit info:
2012-10-20 19:51:01 UTC 6.00001111 BTC ASIC

+1, I'll definitely add my support for pyramining as a company. There are referrals but you don't need to attract any for positive returns, but they can increase and speed your returns. It's put money in, pyramining buys and runs the mining gear, and pays out your original investment plus a bonus percentage (10% for joining, more with referrals).

Okay sorry, I missed Pyramining and just thought it was a pyramid. But I would think this is bad idea:

1) You have to trust Pyramining.
2) You have to trust Cryptostocks.
3) You have to trust pyra-proxy.
4) When you buy the stock (it should be a bond, not a stock) directly through Pyra-proxy, your BTC are invested. But when you buy it from someone who is SELLING it, then your bitcoins invested are NOT contributed to pyramining and will not increase dividends generated.
5) The contract mentions no such thing of a buyback program or an askwall. This means that if you want to sell, you will have to sell for less than what you brought for unless pyra-proxy decides to start a new program not in the contract.

I'd suggest investing in Pyramining yourself as the risk for this is orders of magnitudes higher. If you need a referral link to sign up, try http://www.pyramining.com/referral/zfhd3gstq or http://www.pyramining.com/referral/a4g3kdnhb

1- true
2- true
3- true
4- true
5- I don't agree with this because as outlined in the investment plan a portion of the dividends are rerouted back into pyramining to create a stable/marginally growing account size, so over time the dividends should naturally grow.  Had I chosen a bond system I would not be reinvesting some of the payouts to preserve/grow the fund size, and while not outlined in the contract (maybe I should) I have no plans to issue any more shares in the program so as the account grows or mining becomes more expensive you are very likely able to sell your shares at a higher value than you bought them at.

I agree that if you have sufficiently large an investment and you have no time restrictions for when you need those coins back then direct to pyramining is the best way to go.  My program was to set up a fund to get all the benefits of a permanent pyramining account and make it easier to be depositing smaller amounts or allow people to sell their stake to someone else any time they choose.

I know the trust issue is a big one and in time you will see that I will live up to my word and do my best to do the honorable thing in the event of a mishap, I won't expect trust from anyone and I'll let my actions demonstrate this.  I have publically announce the head account in pyramining where these funds are placed and even without logging in/having an account any person can see the funds in the system to verify my management of these programs.

hi pyra-proxy, I love your idea and I'm gonna buy some shares on cryptostocks in awhile. The reason is that I already have 3 accounts over at pyramining but if I invested in your stocks, I could cash out anytime. Loving it. Will send some BTC in a few mins.

my deposit to cryptostocks is done. just need 6 confirmations. I will check later in 1 hour and then buy your stocks, thanks.

hi pyra-proxy, I've just bought 149 shares. please process them when you are online. thanks

done and thanks for the support.

thanks!

Hi Pyra-proxy, when will you declare dividends for this stock?

Within 48 hours of a pyramining payout currently.  Since these funds just got started the first dividend payments will take a little while to get started as our pyraminin balances grow.

New vote issued:  https://cryptostocks.com/welcome/news (https://cryptostocks.com/welcome/news)

Regarding pyramining announcement:  https://bitcointalk.org/index.php?topic=80845.msg1314762#msg1314762 (https://bitcointalk.org/index.php?topic=80845.msg1314762#msg1314762)

Vote passed this weekend and we hit the outlined 10 BTC threshold so have made a 4th tier asic prepurchase. With this pyramining will add a supporting asic deposit referred from here as well to increase even higher the hash power of this chain of accounts.

https://cryptostocks.com/securities/24 (https://cryptostocks.com/securities/24)

New vote to add a pyramining enhanced 10 BTC value asic prepurchase to the 3rd tier BTC mining chain before resuming the standard deposit plan. This will give us pyramining enhanced mining off of both the 4th and the 3rd tier so all the benefits will be seen in our entire chain, at about these ratios:

Tier 1 - 7.5% boost from pyramining enhancement off tier 3
Tier 2 - 7.5% boost from pyramining enhancement off tier 3 + 7.5% boost from pyramining enhancement off tier 4 (approximate 15% based on nearly identical sized deposits)
Tier 3 - 15% boost from pyramining enhancement off tier 3 + 7.5% boost from pyramining enhancement off tier 4 (approximate 22.5% based on nearly identical sized deposits)
Tier 4 - 15% boost from pyramining enhancement off tier 4

Not to mention that we will have a significant asic deposit ready to go in all 3 of our tail accounts so should likely see very rapid payments when pyramining rolls out its asic infrastructure come Dec./Jan. timeframe-ish.

Could we get an occasional update on how much BTC is invested in which Tiers?

You can see the tier 1 here as they are "normal deposits" http://pyramining.com/account/browse?id=scpk9az3 (http://pyramining.com/account/browse?id=scpk9az3)

The remaining tiers are as follows:
Teir 2 - 20.00003333 BTC (3 Asic deposits which are 'inactive' until asics are deployed)
Tier 3 - 13.28021111 BTC (1 Asic deposit when funding for the pyramining matching)
Tier 4 - 11.18301111 BTC (1 Asic deposit when funding for the pyramining matching)

Our current Tier 1 reward to date is 0.87309991 so we are getting really close to paying out first dividends, this fund however will still be rewarding at the initial "growing" rate as outlined in the fund description until there is sequential rewards flowed down from Tier 4 --> Tier 3 --> Tier 2 --> Tier 1 so that won't happen until after asics have been deployed.

Good news for investors, although need to figure out the best course of action as the prospectus was based on full btc payments but we should get payouts a little more often now, just smaller amounts and all of the funds should be eligible for payments soon. I've already posed the question about when this change starts.

See https://bitcointalk.org/index.php?topic=80845.msg1970065#msg1970065 (https://bitcointalk.org/index.php?topic=80845.msg1970065#msg1970065)

He man.  What's going on with this security?  Just curious.

This one has been the only one to get it so far, right now I have a partial dividend waiting to release... since pyramining lowered their payment threshold I had to hold the minute payouts until the prospectus described dividend payout is reached, we only need another 0.1 or 0.2 btc payout to be ready for the next dividend.  The alternative is to pay based on each 0.1 payout but the dividend reward would be demoralizingly low I thought which seemed counter-productive.  The original prospectus outline is based on whole btc payouts and investments so I had some turmoil to address in how to handle pyramining's decision to reduce the payout threshold to 0.1 BTC (which was only done as an interim measure given the slow rate of return until they deploy asics from how I understand it)

At the pyramining BTC link above when "Rewarded amount:   1.85515074" gets to >= 2.0 I plan on releasing the next dividend.

The hang-up with all pyramining is that asics have made it so pyramining rewards return very slowly now (even with the reduced payout ratio), pyramining is actively working on their own asic production and seeking asic alternatives in the interim to speed up asic deployment.  This is what is very much needed to get dividends flowing quicker and more consistently.

Is your ASIC deposits online yet?

Not yet I just checked, hopefully soon as there has been 200 GH/s added to the pool already from ASICS and I'm pretty sure we got in somewhat early in the list....

Good news!  This fund now has activated ASIC deposits.  Only about half of the asic deposits are activated at the moment but we are already up an extra GH/s so expect returns to start increasing greatly in frequency!

I can never keep track of how to follow this.  When can we expect the next dividend?

*I've not paid attention to Pyramining in months.

When the exiting tier crosses a full BTC payout.  So in about 0.4 BTC more reward, then the fund will reinvest 0.6 BTC, and pay 0.4 BTC less fees as dividend.  Rate of return is speeding up since pyramining has begun deploying asic hardware and all of this funds deposits have been activated.

Why "invest" in things you don't know how to track and which can't hold your attention? It's not merely that you're risking your own btc, you're also adding to the general deluge of the uninformed and unmotivated misrepresenting themselves as "investors" "involved in bitcoin". There's less demanding stuff (http://trilema.com/2013/a-compedium-of-compressed-bitcoin-points/) you can do, y'know.

New vote issued reflected unsatisfactory performance of this funds holdings, the vote text was clipped on cryptostocks but the following is the text in it's entirety:


If nothing is improved on our current holdings the sad truth is that it could be in excess of 10 years just to reach basic break even on our fund (sadly it is my opinion that this may be optimistic at this point given the developments within the bitcoin mining ecosystem if there is no major shake-ups with our current investment vehicle)