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So how did it go? Everyone happy?
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Agreed. And he is as good as his word.
I recently discovered a minor bug- The balance would not update properly if you redeposited. the system still worked but the display didnt show it. When I pointed this out, he thanked me and made a deposit under my account!
I am definately sold on Pyramining!!
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I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).
I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals. I reached break even in approx 6 weeks!! Referals massively speed up the process. wow. 6 weeks? that is fast. Particularly large referrals on small deposits make this easy. Assuming you were a top level account you could get to the full reward in a day with a referral of ~1500 times your's. With a referral of ~30-40 times your deposit you could make it back in a 6 weeks. Adding more deposit to your account at this point is a great idea and lots of easy money for you to enjoy (though your bonus would slowly decrease and your referral will eventually complete as well). That being said, finding even 10 times your deposit in referrals is the hard part to this (for any decently sized deposit). Its not hard to find referals, the trick is how you structure your referals and investments to maximise your return whilst minimising your return time. That is what I am talking about! |
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That remains to be seen. Noone can tell exactly what the difficulty will increase to and what the price of BTC will reach. What you can be sure of is that there is very little point in continuing to mine after ASIC hits unless you have an ASIC of some description.
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Its quite possible. You need to invest in the right manner, then you reach the break even point quickly and from then its pure profit. Take a look at my account if in doubt.
PM me if you have any questions.
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The effect of the reward halving has already been priced into the market. It will have no effect when it happens.
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I am sure that as soon as ASICs hit, he will stop investing in FPGA and everything will go into ASICs. Therefore, those with linked accounts (me included) will simply buy ASIC equipment with our newly invested BTC.
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Its not the Jalepenos that will be the killer. They are a drop in the ocean compared to the Mini Rig. This wil hash at 1.5 T Hash. But its nt just BFL with new kit. There are several companies producing ASIC and when these hit the difficulty will undoutably go up. Whether it remains worth while to mine depends on your electric and hardware costs!
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Its still not a problem unless you get paid in BTC, or earn a considerable part of your income from mining (unlikley). Otherwsise, just wait to sell.
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Still offline. Any idea when it will be back?
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66 watts DC, or 66 watts AC?
I asked that on the BFL forums,it will be from the wall=120 volt  That depends on where you live. For me- from the wall = 240 V |
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Site was down for maint. Now back up!
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Exactly. Plus many current miners use free electricity, so they will continue regardless. ASIC will make the difficulty skyrocket. No Question.
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Its going well. Good solid returns and now he is developing ASIC, return times should decrese (if he meets expected timelines).
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I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).
I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals. I reached break even in approx 6 weeks!! Referals massively speed up the process. |
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Thats excellent news. Hopefully, you will be able to stick to the advertised timeframe!
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