I am developing this: http://www.pyramining.com/

[drekk]

It's a gamble. Break-even in 13 months? A lot of BTC-related sites had a TTL lower than that. So don't look at it as an "investment", but a long-term gamble. I just threw a few coins at them.

Cheers!
  ~drekk~

[clivewalkden]

I'm willing to give it a go, only cost me my time and a bit of power. Started with 1BTC. Thanks for setting up this service.

[Monkey1]

It doesnt take 14 months to see a return on your investment if you set up your account properly and do a bit of work.  I am seeing a return after several weeks.  Join via my links and Ill show you how.

[drekk]

It doesnt take 14 months to see a return on your investment

That's not what I've meant. It'll take several months before you get back your principal and start making a profit. And noone knows for sure how the difficulty increase, reward halfing, ASICs etc. will change things for miners and mining projects. The site could vanish for several reasons.

I still say it's gamble, but that doesn't mean you can't get any fun(ds) out of it.

[Viper717]

It doesnt take 14 months to see a return on your investment

That's not what I've meant. It'll take several months before you get back your principal and start making a profit. And noone knows for sure how the difficulty increase, reward halfing, ASICs etc. will change things for miners and mining projects. The site could vanish for several reasons.

I still say it's gamble, but that doesn't mean you can't get any fun(ds) out of it.

I would say its more of a gamble now than before, that being said still a good way to make a few extra BTC
http://pyramining.com/referral/yah7zf8bk    2012-09-14 18:30:02 UTC    still active
http://pyramining.com/referral/2pgbfar9t    2012-09-14 18:30:02 UTC    still active
http://pyramining.com/referral/nzdmx4yf7    2012-09-14 18:30:02 UTC    still active
http://pyramining.com/referral/gxr2pscmn    2012-09-14 18:30:02 UTC    still active
http://pyramining.com/referral/xh2aryen6    2012-09-14 18:30:02 UTC    still active

[clivewalkden]

No one's forcing you to join it. Is it not worth a go? 0.1btc isn't a huge investment to start with. I'm in 1btc initially. It'll be different when the ASIC's start up and the coin rate halves. As i'm a newb and don't have many bitcoins I think it's worth spreading a few around to try and get a steady stream. Isn't that what Bitcoin is about?

[BobbyJo]

Exactly.  I do laugh when people rubbish pyramining but have links in their sig!

[drekk]

I've never said not to put any money in pyramining.

No one's forcing you to join it. Is it not worth a go? 0.1btc isn't a huge investment to start with. I'm in 1btc initially. It'll be different when the ASIC's start up and the coin rate halves. As i'm a newb and don't have many bitcoins I think it's worth spreading a few around to try and get a steady stream. Isn't that what Bitcoin is about?

Both questions you asked have to be answered by yourself.
And it seems you've already done so.

Everything's cool then, I guess.

[Monkey1]

It doesnt take 14 months to see a return on your investment

That's not what I've meant. It'll take several months before you get back your principal and start making a profit. And noone knows for sure how the difficulty increase, reward halfing, ASICs etc. will change things for miners and mining projects. The site could vanish for several reasons.

I still say it's gamble, but that doesn't mean you can't get any fun(ds) out of it.

I still say that if you do it intelligently you can make far more than the 10% minium and also be in profit long before 14 months.  I am already up and its been 6 weeks or so!!

[btc-bullion]

It doesnt take 14 months to see a return on your investment

That's not what I've meant. It'll take several months before you get back your principal and start making a profit. And noone knows for sure how the difficulty increase, reward halfing, ASICs etc. will change things for miners and mining projects. The site could vanish for several reasons.

I still say it's gamble, but that doesn't mean you can't get any fun(ds) out of it.

Hypothetically, the same proportion of people mining for pyra will also be mining with ASIC.

[BobbyJo]

ASIC is really going to shake things up.  With the reward halving, many people who havent ordered ASIC will be left behind and may quit.   Others may pile in.  The balance of power will shift as many on here have stated they havent ordered ASIC for various reasons!  Interesting times.

[pyra-proxy]

It doesnt take 14 months to see a return on your investment

That's not what I've meant. It'll take several months before you get back your principal and start making a profit. And noone knows for sure how the difficulty increase, reward halfing, ASICs etc. will change things for miners and mining projects. The site could vanish for several reasons.

I still say it's gamble, but that doesn't mean you can't get any fun(ds) out of it.

Hypothetically, the same proportion of people mining for pyra will also be mining with ASIC.

Additionally he said in all likelihood that pyramining will be upgraded to asics around the January time.... it will be good to already be in the system when that starts I think.  I'm a happy user thus far :-)

[Monkey1]

There was talkk of an inhouse ASIC development but Pyramining also stated that if ASIC arrived, he would buy that!

[Badonkadonk]

There was talkk of an inhouse ASIC development but Pyramining also stated that if ASIC arrived, he would buy that!

he would have to buy asics, takes time to develop, not to mention the cost. and the hash speed needs to go up when the dificulty goes sky high or the "company" would be worthless.

[BobbyJo]

Agreed.  he has already stated that he will buy ASICs when they become availaible but that as a side line he is looking into developing ASIC (probably with some others I assume).

[Badonkadonk]

would be a pretty smart move for a company like this, develop your own asic and rent out the hashing power when its developed.

[Monkey1]

He mines a lot for himself as well as pyramining.  It seems like a mature set up!

[aepfel]

After 3 Month of pyramining, it seems to work aceptable for me. letz see, how it evolves next months/years.

[Monkey1]

Its going well.  Good solid returns and now he is developing ASIC, return times should decrese (if he meets expected timelines).

[pyra-proxy]

I've used this service for a while now and it is working as expected, I believe this to be a great way for people who don't want to shell out for $$$$ mining rigs to compete in the cryptocurrency mining scene, and this will prove all that much more relevant in the near future as ASICs hit the scene, with as an example 1 of BFLs big ASICs has crazy insane hash rate at redonkulous price for the common person.  To help people with this I put up some projects at https://cryptostocks.com/ so that people can invest into pyramining in small/any quantities they choose and sell out of it at any time they choose to help ease people into this system and provide all the benefits of pyramining in a manner that allows people to get out whenever they want based on their own needs.