So, this is it: Bitcoin credit crunch.

[bitcoinBull]

When I say mining operations offer real, stable returns, I mean return of bitcoin on bitcoins invested regardless of what it is worth in fiat.  That is how Pyramining works.

Pyramining says they use your deposit to buy Xilinx FPGA's. The amount of FPGA's bought depends on the price of coin. That's one factor which makes consistent, stable returns impossible. Future difficulty changes are another.

Do you have any evidence that Pyramining isn't an honest operation?  I'd like to hear it if you do...

Yes, there is a pronounced evidence of absence

• No pictures of custom FPGA rigs
• No records of earnings from pools
• Apparently anonymous operator

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[JayCoin]

When I say mining operations offer real, stable returns, I mean return of bitcoin on bitcoins invested regardless of what it is worth in fiat.  That is how Pyramining works.

Pyramining says they use your deposit to buy Xilinx FPGA's. The amount of FPGA's bought depends on the price of coin. That's one factor which makes consistent, stable returns impossible. Future difficulty changes are another.

Do you have any evidence that Pyramining isn't an honest operation?  I'd like to hear it if you do...

Yes, there is a pronounced evidence of absence

• No pictures of custom FPGA rigs
• No records of earnings from pools
• Apparently anonymous operator

I have seen pictures of their mining hardware.  If you ask, and you have bitcoin invested with them, they will send you a link so that you can see pictures of their hardware.

[bitcoinBull]

I have seen pictures of their mining hardware.  If you ask, and you have bitcoin invested with them, they will send you a link so that you can see pictures of their hardware.

I don't see why one should need to have bitcoins deposited to see pictures. That would be like BFL not showing pictures until after you pre-order. And pictures alone prove nothing, they would also have to demonstrate that the rig performs as they claim.

And even if they did that, they could still run with all the deposits (or claim a "hack"). Bitcoin deposits are not to be done lightly, if at all.

[symbot]

Yes, there is a pronounced evidence of absence

• No pictures of custom FPGA rigs
• No records of earnings from pools
• Apparently anonymous operator

Fair enough.

I have also seen the pictures of the equipment.  It all looks consistent with what one would expect but I could certainly be fooled. 

The second and third points also make me cautious...

[Monkey1]

You make several valid points, although as bitcoinbull states, you would not be happy, even if pictures and physical evidence were provided.  You will find a reason not to invest.  You need to do your own risk assessment and decide if its for you or not.  If you want to try a couple of BTC, go ahead and deposit.  If its not for you, look elsewhere.  Dont put all your eggs in one basket and ensure you are happy before you buy.

The nature of bitcoin is that whomever sends first is always going to risk being scammed and that applies to all transactions, not only this kind.

[jjshabadoo]

Credit is coming to the BTC economy. It happens to take time for those of us who actually own and run businesses to do things right.

The problem with most bitcoin financial institutions is they are run by people who don't know much about business, don't care and want to steal your money.

Also, the people looking to obtain money are not interested in going through a credible application process.

I am working on a solid long-term financial institution based on bitcoin which will be based on sound business and economic principles.

My software designer has spent the last few months making SURE we have rock solid security of all deposits. We have researched past and current hacks to avoid their mistakes.

We have spent the same amount of time working on our web platform planning for efficient usability and also security.

I have been working on the financial plan and economic underpinnings of our financial policies(My background is ten years owning a business and 2 years toward an MBA)

We will NOT rush because it has to be right from the beginning. We will be starting with secure, 100% backed(our reserves) savings accounts. We then will move to escrow services and finally lending.

So, I don't care who scams or produces garbage, we will be around as long as there are crypto-currencies because we will not be dependent on bubbles or any external factors except the risk associated with our lending portfolio. Our lending risk will never exceed our risk tolerance or ability to handle massive default.