http://www.pyramining.com/ - Discussion thread (no advertising here)

[eliale]

Some sort of test calculator would be extremely handy

Here it is:

http://www.links-pyramining.com/mastering-pyramining#bonus-calculator

Soon, I will add "Life Span" calculator.

Should you encounter any bugs, lack of functionality or other problems, please contact me. Thanks

Very nice job!

please remember we do also offer Pyramining bonds at 1% monthly return.  Beauty of it is that you can trade it on the open market and get out when you like

https://www.therocktrading.com/en/offers/BFRF

[1714797307]

1714797307

[links-pyramining]

Very nice, thanks   Can I suggest an option to add a new line, in case people want to calculate more than 4 layers?   Just a nice to have

I've added life span functionality to bonus calculator and changed it's name to Investment Calculator:

http://www.links-pyramining.com/mastering-pyramining#investment-calculator

I will think about adding more layers, but I'm not sure if having more than 4 nested accounts is so profitable.

[gektek]

Having some trouble connecting... Anybody else?

[bradyon]

Same here, the page does not connect.

[biddicoin]

Is it possible to get the ASIC investment back immediately?
(the 00001111)

It takes too much time - much more than I thought. I'm back from hospital - have lots of health issues and endless bills to pay.

Please answer that question - I think many people would be eased to know that the investment is not lost.

Thank you

[btharper]

Pyramining, could you confirm btharper's statement? If you do, please edit the information...

Your account's bonus depends only on your referral deposits (1 level).

Your account's income depends on referrals and referrals of referrals (3 levels).

So, if you deposit 1 bitcoin, you will be rewarded 1.10 (1 + 10% bonus).
If you get a referral and he deposits 1 bitcoin, you will be rewarded 1.20 (1 + 10% bonus + 10% from referrals).
If your referral gets a referral which deposits 1 bitcoin, you will be rewarded 1.20, and your referral will be rewarded 1.20.

If the mining activity generates 1 BTC per account, you would receive 1 BTC from mining, 0.075 from your 2nd level referral, 0.15 from your first level referral. You would send 0.18375 to your sponsor, 0.091875 to your 2nd level sponsor and 0.091875 to your 3rd level sponsor, if any.

If you think I should explain this better, I will try working on it. I'm accepting advices to improove the F.A.Q. section.

I think the confusion is confusing how income is used in the explanation (money per time) with bonus (net payout). Since normally income is often thought of as net gain.

[JayCoin]

REQUEST: Would it be possible to add one more digit of accuracy to % completion when viewing accounts.  This would help to compute final payout more accurately.

Thanks.

[adamluc]

Hi, I only have a few bitcoins in pyramining, and would like to get a refund. How do I go about doing that?

Thank you.

[Akka]

Hi, I only have a few bitcoins in pyramining, and would like to get a refund. How do I go about doing that?

Thank you.

Not at all. Deposits are final.

Once you have chosen to participate there is no turning back.

There is this company who offered to buy you account, but I don't know if this offer still stands.

[IH-Antonio]

Hi, I only have a few bitcoins in pyramining, and would like to get a refund. How do I go about doing that?

Thank you.

Not at all. Deposits are final.

Once you have chosen to participate there is no turning back.

There is this company who offered to buy you account, but I don't know if this offer still stands.

Does it mean we only get the "revenue"? Or after X months we can get the refund of the full balance in the account? If not, its really dumb, at the current BTC prices to invest at all, because for 1-2 bitcoins you can buy a good GPU to mine a way more than the "Current infrastructure:   10.37 MH/BTC"

Regards

[btharper]

Hi, I only have a few bitcoins in pyramining, and would like to get a refund. How do I go about doing that?

Thank you.

Not at all. Deposits are final.

Once you have chosen to participate there is no turning back.

There is this company who offered to buy you account, but I don't know if this offer still stands.

Does it mean we only get the "revenue"? Or after X months we can get the refund of the full balance in the account? If not, its really dumb, at the current BTC prices to invest at all, because for 1-2 bitcoins you can buy a good GPU to mine a way more than the "Current infrastructure:   10.37 MH/BTC"

Regards

There's a few things that contribute to this, and buying FPGA power at this point is a little bit of a poor looking investment. Right now everything is running on FPGA power, that is a slower technology than the ASICs that some people are lucky enough to be mining on. As well there's a lot of money put into waiting on ASICs (See Asic preallocated power = 2 TH/s). Once Pyramining finishes developing ASICs (or as has been previously mentioned purchases units from another vendor if they're able to get them out shipped before development is finished). The large recent rise in BTC/fiat means you can buy more GPU per BTC right now than you could previously (such as when most purchases were made). When you buy into pyramining you also have to support the whole group, everyone gets the same hashing rate per BTC, so donating now means you can buy more MH/s per BTC, but that gets spread out over every other account too (This is why each BTC buys ~45MH/s but you'd still end up with ~10MH/s).

So pretty much everything is working against pyramining until the technology gap to ASICs is closed (or a lot of people buy in at the currently unadventurous rates, but I wouldn't expect it). The only upside I see is that accounts are still closing and their hashing power being redistributed to everyone else. I believe when ASIC preordering opened on pyramining there were ~30 completed accounts and now there are now about twice as many, but this is likely a small drop in the bucket.

[Akka]

I believe when ASIC preordering opened on pyramining there were ~30 completed accounts and now there are now about twice as many, but this is likely a small drop in the bucket.

Most competed accounts are those with many referrals and they keep redepositing. Looking at competed accounts is the IMP the wrong Metric to look at.

"Completed deposits:   553" that says a lot more.

That's a 8,35 % deposit completion rate for now.

Also I would out the average completion of active accounts somewhere between 35 - 40%

So you could say that pyramining has currently a completion somewhere between 40 - 45%. That's not so bad.

[btharper]

I believe when ASIC preordering opened on pyramining there were ~30 completed accounts and now there are now about twice as many, but this is likely a small drop in the bucket.

Most competed accounts are those with many referrals and they keep redepositing. Looking at competed accounts is the IMP the wrong Metric to look at.

"Completed deposits:   553" that says a lot more.

That's a 8,35 % deposit completion rate for now.

Also I would out the average completion of active accounts somewhere between 35 - 40%

So you could say that pyramining has currently a completion somewhere between 40 - 45%. That's not so bad.

Hashing power from completed deposits is kept in the system but spread out to everyone. So even with money being redeposited (which would just buy new hashing power) everyone is better off. In fact redepositing to a new account would raise the hash rate even more than just the account completing. It still doesn't offer any real metric in the long run though.

It would be interesting to see different stats on completion across the whole site though. Total across all deposits ever, total across deposits opened since n months ago, and total across all open accounts. I'd imagine this would require enough work to implement though that I wouldn't expect it to come while ASICs are being prepped at the very least.

[refaelsh]

To the original starter of this thread:
When I get My full reward, what happens?
1. My deposit goes to zero and in order to make more profit I need to deposit again?
2. Do I continue to receive profit from the original deposit?

[jargoman]

To the original starter of this thread:
When I get My full reward, what happens?
1. My deposit goes to zero and in order to make more profit I need to deposit again?
2. Do I continue to receive profit from the original deposit?

Once it completes it goes to zero.

[btharper]

To the original starter of this thread:
When I get My full reward, what happens?
1. My deposit goes to zero and in order to make more profit I need to deposit again?
2. Do I continue to receive profit from the original deposit?

When you get the full reward you lose the hasing power from that deposit. Each deposit works separately.

Payouts happen anytime you accumulate ~1 BTC of reward (slightly higher to account for the 0.5% fee) unless the cashout would leave you with less that 1 BTC in rewards left, then you accumulate everything and get the final payment all at once.

So depositing 3.5 BTC you'd get
*1 BTC
*1 BTC
*1.5 BTC

[DadoSovr]

You can close an account pyraming and receive the funds invested?

[stepkrav]

You can close an account pyraming and receive the funds invested?

don't think so. You just have to wait for it to be complete.

[btharper]

You can close an account pyraming and receive the funds invested?

don't think so. You just have to wait for it to be complete.

DadoSovr is correct, there is no way to cash out early. There are sometimes people willing to buy your remaining pyramining deposits, but I don't know what the effective fee on this is. This wouldn't be a service of pyramining (though he will need to help changing the payout address of the account) but of a third party.

[adamluc]

the fact that you cannot cash out early is an inhibitor for pyramining to gain what it really could in its market. There should be a service that allows users to trade in btc for pyramining power at below the market rate. It would be worth it to pyramining in general (they would profit from the differential) and help create more demand for pyramining itself.