If I join by referral, give you 100 BTC, and give you more referrals, the BTC is supposed to go toward renting hashing power. If I'm only getting paid from mining profits, why don't you just mine for yourself and keep the higher profits?
Indeed I mine for myself (well right now all my miners are dedicated to pyramining, while I am waiting for the ordered hardware to arrive). But ordering larger quantity of hardware leads to lower hardware cost. This means things will be more profitable and return of investment is faster.
Say I get back 115 BTC - if that's supposed to be only from mining profits, then wouldn't it be more profitable for you to just take the 115 BTCs yourself rather than only getting 100 and giving 15 to me?
as I said before, if I put my 100 BTC + your 100 BTC, I would get more than double of the hardware. This leads to more bitcoins mined for both of us.
You say that I'm not getting paid any money from people that join under me, but then in the next sentence you say that referrals increase my bonus. If referrals increase my bonus, then I am getting paid, at least in part, from people who join under me, and hence this is, at least in part, a pyramid structure.
Your bonus increases. It means that your rented hashing power will stay up and running longer. You don't get any bitcoins from your referrals.
The "pyramid" is just the "structure" of the linked accounts, but rewards are 100% generated by mining.
Another thing I don't understand is how you can give me profits more quickly than a normal mining operation - how is it that you can do this?
I hope to not have been misunderstood. Mining time takes exactly the same time on pyramining on a normal operation. But with pyramining I am pretty sure that you can get much more hashing power for the same money, since buying cheaper hashing power leads to less time needed, you can profit quickly.
Try to do some math: how much would it cost to you to buy 1GH/s? Right now on pyramining it costs 134.6 BTC. Now try to calculate how much time will it need to reach the breakeven point in both cases.
Finally, you say in the OP that people can send any amount of BTC. If this BTC is only going to rent hashing power, how is it that this is unlimited? How can you instantly bring more FPGA hashing power online for any amount of BTC that I might send?
I have a LIMITED amount of hashing power deployed (immediately available). However I have already several orders open for new infrastructure and I am capable of acquiring new hardware in short times. If a big order is placed, the whole system will run "underpowered" for a few days, the time needed to expand it. If an exremely large order will be placed, I can satisfy it in NOT MORE than 1.5 months.
To be clear, I'm not claiming this is a scam - perhaps you have some very clever business plan here that is legit. I'm just saying that, for all that you have explained in the OP, it isn't clear how this isn't a pyramid scheme, at least in part. What I would need to be convinced that there isn't any pyramid scheme going on here is a better explanation that shows how you are able to do the things you claim in the OP without the profits payed to members being funded, at least in part, by new members sending BTC.
I did a lot of efforts to find the way to lower the costs of hardware. I did also a lot of work to develop a reliable infrastructure (software and hardware). I am putting my experience and my knowledge at work in this project. I will make some pictures of the infrastructure at work to convince you (and whoever else needs it) that the key of my business plan is just to optimize infrastructure and costs. Plenty of FPGAs => low cost. Simple.
If, as of this moment, no new members joined, how could you pay existing members a profit without essentially taking a loss yourself?
Because there is REAL hardware MINING for the project. And mining is ENOUGH to fulfill ALL rewards of every member. Since incoming bitcoins don't come from people joining, even the very last account will get 100% rewarded.
Even if this is a pyramid structure, it doesn't necessarily follow that it is a scam. Amway has a pyramid structure, but I wouldn't necessarily say it is a scam - they have been in business for years, sell actual products, etc. But with Amway it is still true that a new member isn't going to profit unless they can get new people to join under them. At this point I'm just asking for more clarity on what exactly your business model is - it isn't clear at all in the OP IMO.
I really don't know how to explain it better than what you already read and what it's stated on the site. If you want to see it with your own eyes, open an account without any sponsor, send a small amount of bitcoins, don't recruit any referral and see what it will happen: in less ~ 10 months or less (provided that surrounding conditions don't change too much), you will get your rewards.
Or ask people who already joined but have still no referrals how much they already got on their accounts.
I hope I have been able to explain you things clearly enough. If there are still things that aren't clear to you, I'll be pleased to discuss them in a more detailed way.
