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Author Topic: [ANN] [LTC] PYRPXYLTC - Pyra-Proxy LTC Mining Fund  (Read 2932 times)
pyra-proxy
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October 15, 2012, 09:07:44 PM
 #1

New project listed at https://cryptostocks.com
Direct url - https://cryptostocks.com/securities/23

DESCRIPTION:
The purpose of the Pyra-Proxy LTC project is to allow those parties interested in Pyramining and the health of LTC 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 LTC 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

Pyra-Proxy LTC will invest all resources into a 4 tiered Pyramining cluster to maximize reward and benefits from the Pyramining model. Investments will be adde 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 LTC purchases and 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 between BTC and LTC and thusly will initiate the necessary trades at market value solely on the vircurex exchange unless that exchange chooses to cancel LTC BTC trading in which case another exchange will be voted upon by members

Trade announcements will not be announced in advance to protect the interest of program participants but will happen within 48 hours of pyraming payments or receipt of greater than 500 LTC of newly invested resources.

PROGRAM SOLVENCY

Pyra-Proxy LTC will remain viable so long as 3 environmental conditions are true. 1-Cryptostocks is active and allowing for continued operation; 2-Vircurex or some other web based secure exchange between LTC and BTC are viable with active trading; 3-Pyraming remains a viable mining operation.

In the event of a collapse of LTC or 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.

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October 16, 2012, 07:36:54 AM
 #2

Quote
Current infrastructure:   9.56 MH/BTC
New infrastructure:   ~ 11.71 MH/BTC
ASIC infrastructure:   ~ 757 MH/BTC

Looks like pyramining has updated the stats output for the ASICs they are developing/adding, looks nice!  So in December/January ish your investment will certainly get a huge jump in value!  In comparison, that is about 1 BTC for just under the current performance of a BFL single FPGA.

We currently have some investors but not quite enough to start seeding this project's accounts, but not too much longer.  The DVC project has already gotten some seeding and it looks like it is getting the 11.71 MH/s rate applied so that's good news here as well when the LTC project starts getting seeded.

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October 17, 2012, 04:22:03 PM
 #3

We finally met a deposit threshold to start seeding the project with. As promised for auditing purposes here is a link to the head of the LTC Pyra-Proxy Pyramining account: http://pyramining.com/account/browse?id=qxzh7cet Currently we fully seeded tier1 and tier2, we started seeding tier3 once each tier gets fully seeded at the ratio we will start the seeding again until all LTC Pyra-Proxy shares are sold.

Thanks for the support thus far and I hope this is a long and prosperous relationship for all of us!

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October 18, 2012, 06:07:55 AM
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Note for auditing purposes: A ledger spreadsheet error was made, in which initial LTC investments were sent to the DVC pyramining accounts, this was resolved by adding my own personal BTC in excess of the initial LTC funds (by ~1 BTC over) to replace the loss, so shares purchased currently actually have a slightly higher investment ratio based on current market forces in the LTC accounts.  Additionally, the DVC fund will not be charged for this error as it was a *now fixed* clerical error and they will have a significantly higher investment ratio based on current market forces as I will take this as a personal loss vice trying to manage the accounting for proper recovery of the funds.

LTC funds will continue to be invested at the current ratios spelled out in the issuing description.  DVC funds will have advanced seeding into the Tier 1 to 3 accounts and will thus be seeded in the Tier 4 and Tier 3 accounts until the ratio has been returned to the expected values, from which normal seeding patterns will continue.

This represents no loss to constituent shareholders.

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October 20, 2012, 09:12:39 PM
 #5

We have now filled tier 3 of the first round of initial LTC investments and will be moving onto the 4th tier until the deposit ratios are as stated from which we will move onto the second round.

Thanks for the support and happy profiting all!

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October 30, 2012, 08:38:40 PM
 #6

Do you have any referral links created from your stocks deposits into Pryamining?

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October 30, 2012, 10:08:36 PM
 #7

Do you have any referral links created from your stocks deposits into Pryamining?

I do just never posted them, if you would like one I'll send you one, just let me know which link in the chain you want to hang off of.

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October 30, 2012, 10:32:55 PM
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Do you have any referral links created from your stocks deposits into Pryamining?

I do just never posted them, if you would like one I'll send you one, just let me know which link in the chain you want to hang off of.

The LTC one as that's my investment fund LTCI - https://bitcointalk.org/index.php?topic=114157.0 - is buying into.

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October 30, 2012, 10:43:52 PM
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Here is the current ones off the 4th tier of the LTC fund.

http://pyramining.com/referral/zqtxb2grd
http://pyramining.com/referral/c9eh3bn4x

If for some reason you'd like a referral off a higher tier let me know.

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October 30, 2012, 10:46:56 PM
 #10

When are the first dividends due from this fund?

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October 30, 2012, 11:00:57 PM
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When are the first dividends due from this fund?

Within 48 hours of pyramining payouts...  current top tier mined balance is about 0.04 but its getting faster due to a recent share purchase which will allow about another 4 btc deposit in the fourth tier account.  LTC to date has had much slower acceptance, I.e. the DVC version already has 0.09 in the top tier and > 0.14 in each of the others and it was released just a couple ish days before.

Morale of the story... within 48 hours of pyramining payouts but I don't expect the first dividends all that soon until the account has built up a fair bit more deposited balance. 

An unstated goal has been to (excluding drastic swings in currency price and issuing no more shares on the market) build up about a 1k btc fund behind each version.  At current mining rates that would tick us off about 1 BTC every pyramining balance update, so about 2 or 3 times a day... this changes a lot when pyramining releases its asics I would imagine.

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October 30, 2012, 11:10:54 PM
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When are the first dividends due from this fund?

Within 48 hours of pyramining payouts...  current top tier mined balance is about 0.04 but its getting faster due to a recent share purchase which will allow about another 4 btc deposit in the fourth tier account.  LTC to date has had much slower acceptance, I.e. the DVC version already has 0.09 in the top tier and > 0.14 in each of the others and it was released just a couple ish days before.

Morale of the story... within 48 hours of pyramining payouts but I don't expect the first dividends all that soon until the account has built up a fair bit more deposited balance. 

An unstated goal has been to (excluding drastic swings in currency price and issuing no more shares on the market) build up about a 1k btc fund behind each version.  At current mining rates that would tick us off about 1 BTC every pyramining balance update, so about 2 or 3 times a day... this changes a lot when pyramining releases its asics I would imagine.

When is the first Pyramining payout expected?

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October 30, 2012, 11:37:34 PM
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The long story was because its hard to say really... I mean with no new deposits, and taking out the impact of funds moving from 1 tier to the next and not accounting for the asic migration we would be looking at a little more than 200 days... BUT we just got a new deposit which nearly fills up the fourth tier in the first round of seeding, with 1 more btc worth of ltc it will be topped off and the next btc will go into the first Ltc tier essentially doubling its direct mining capability.

If I were to take a semi educated speculative stab/guesstimate I'd say around the end of November but faster each time after that.

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November 03, 2012, 05:23:38 PM
 #14

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

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

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November 11, 2012, 03:05:17 PM
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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.

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November 11, 2012, 03:26:38 PM
 #16

https://cryptostocks.com/securities/23

New vote to add a pyramining enhanced 10 BTC value asic prepurchase to the 3rd tier LTC mining chain before resuming the standard deposit plan.

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November 12, 2012, 10:36:14 AM
 #17

https://cryptostocks.com/securities/23

New vote to add a pyramining enhanced 10 BTC value asic prepurchase to the 3rd tier LTC 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

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November 30, 2012, 02:02:55 PM
 #18

This vote passed and we have deposited the 10 BTC ASIC deposit to secure the pyramining enhancement as described on the third tier deposit address.  Standard deposit schedules will resume now.

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January 09, 2013, 04:11:45 AM
 #19

Congrats LTC proxy pyramining miners, first BTC moved from Tier 4 to Tier 3 of your chain (and the first movement of the 3 available but DVC is close behind).  If you maintain the order ( 4 --> 3 --> 2 --> 1 ) the first dividends paid out will be at the higher rate described in the fund overview and it's looking very positive that will be the case in this investment (also there is a very low chance that a payout will become an asic pre-order in an above tier which will break the chain briefly stalling the higher dividend rate since those funds are stalled until asic mining is released in pyramining which upon the latest news is looking to be in the next couple weeks anyway so no real loss there).  Ultimately it may mean that a little bit of the "working" coins may shrink for a bit since the higher payout rate anticipates all coins going through all tiers but it will be negligible and grown back over time.  Also to note dividends are paid when the tier 1 accounts pay out as that is when funds are available for dispersion and reinvestment as per the fund description.

You can see the movement here:
Tier 4: http://pyramining.com/account/browse?id=b8f7kqyr
Tier 3: http://pyramining.com/account/browse?id=q2d8egba  (Noting the ~1 BTC bump up from the standard ratios)

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April 02, 2013, 02:05:18 PM
 #20

Something new?
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