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

[rdyoung]

independent of  exchange-rate.
there are more than 18000 BTC invested in pyramining, and less than 200 BTC accounts are payed out with 100%.
so ,when new investments in hardware bring 20 GHs per BTC, we need  18000 BTC investment , that all accounts have 10 GHs per BTC

Where are you getting the 18000?
Not sure what equation you are using. But, you may be confusing btc with ghs.

Quick and dirty math says we need 7418.18btc invested to bring us up to 10ghs/btc. A total hashrate of 168ths.
Keep in mind that doesnt account for the inevitable drop in $,BTC/GHS or the redistributed hashrate as accounts/deposits are completed.

With the current exchange rate, cointerra is offering 2ths @ 150GHs/BTC.
If pyramining can get even half that rate, I'll let you do the math on that....

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[rigel]

With the current exchange rate, cointerra is offering 2ths @ 150GHs/BTC.
If pyramining can get even half that rate, I'll let you do the math on that....

You can't compare them: cointerra just gives you the hardware while pyramining includes electricity, setup, connection, administration...

[rdyoung]

With the current exchange rate, cointerra is offering 2ths @ 150GHs/BTC.
If pyramining can get even half that rate, I'll let you do the math on that....

You can't compare them: cointerra just gives you the hardware while pyramining includes electricity, setup, connection, administration...

I didn't compare them. Thats why I figured half. But if pyramining can get the price to 1/3rd, its a good day in the neighborhood.

I used cointerra as a reference because they have the lowest ghs/btc on the market at the moment.

[Tittiez]

That new infrastructure is making me all excited. I put 5 bitcoins in here back in 2012, zero regrets.

[platti]

independent of  exchange-rate.
there are more than 18000 BTC invested in pyramining, and less than 200 BTC accounts are payed out with 100%.
so ,when new investments in hardware bring 20 GHs per BTC, we need  18000 BTC investment , that all accounts have 10 GHs per BTC

Where are you getting the 18000?
Not sure what equation you are using. But, you may be confusing btc with ghs.

Quick and dirty math says we need 7418.18btc invested to bring us up to 10ghs/btc. A total hashrate of 168ths.
Keep in mind that doesnt account for the inevitable drop in $,BTC/GHS or the redistributed hashrate as accounts/deposits are completed.

With the current exchange rate, cointerra is offering 2ths @ 150GHs/BTC.
If pyramining can get even half that rate, I'll let you do the math on that....

there are more than 18000 BTCs investet, blockchain dont lie :-)

I dont see, why anybody will invest more than 7400 BTC  to push the old accouts to high hashrate.

if you invest you get 270 mHs per BTC, and this  1.2% of the 20Ghs/BTC
 

[inaltoasinistra]

I dont see, why anybody will invest more than 7400 BTC  to push the old accouts to high hashrate.

if you invest you get 270 mHs per BTC, and this  1.2% of the 20Ghs/BTC

Yes, but in the future your hashrare will be increased because of other invesitors

EDIT: 7400 new BTC means 185TH/s o.o

[inaltoasinistra]

Tell me if I'm making mistrakes:

Total hashing power: 4.8TH/s
Next GH/s cost: 0.04 BTC
Queue size: 175.5GH/s
Current infrastructure: 268.17 MH/BTC

4800GH/s of total power are divided in 17899 BTC into active deposits ('cause every BTC has 268.17 MH/BTC associated: 4,800,000MH/s ÷ 268.17MH/s/BTC → 17899BTC).

In queue there are 175.5GH/s, at .04 BTG/s they are 7 BTC.

After the deployment the infrastructure will be: (4800 + 175.5)GH/s ÷ (17899+7)BTC → 277.8MH/s (+3%)

With 70 and 700 BTC in queue the improvement will be of 30% and 234%.

Now the growth of difficulty is 116%/month [1], with 230BTC/months of new investments we can keep the break event constant.

It time to click on the link in my signature and deposit bitcoin B-) ;-)


[1] http://mining.thegenesisblock.com/

[rdyoung]

independent of  exchange-rate.
there are more than 18000 BTC invested in pyramining, and less than 200 BTC accounts are payed out with 100%.
so ,when new investments in hardware bring 20 GHs per BTC, we need  18000 BTC investment , that all accounts have 10 GHs per BTC

Where are you getting the 18000?
Not sure what equation you are using. But, you may be confusing btc with ghs.

Quick and dirty math says we need 7418.18btc invested to bring us up to 10ghs/btc. A total hashrate of 168ths.
Keep in mind that doesnt account for the inevitable drop in $,BTC/GHS or the redistributed hashrate as accounts/deposits are completed.

With the current exchange rate, cointerra is offering 2ths @ 150GHs/BTC.
If pyramining can get even half that rate, I'll let you do the math on that....

there are more than 18000 BTCs investet, blockchain dont lie :-)

I dont see, why anybody will invest more than 7400 BTC  to push the old accouts to high hashrate.

if you invest you get 270 mHs per BTC, and this  1.2% of the 20Ghs/BTC
  

Again, Where are you getting the 18000?? You have to remember that the new hardware is divided among ALL deposits. So that 270mhs will increase.

Some people need to go back to middle school and cover basic math first before you can discuss this.

[rdyoung]

Tell me if I'm making mistrakes:

Total hashing power: 4.8TH/s
Next GH/s cost: 0.04 BTC
Queue size: 175.5GH/s
Current infrastructure: 268.17 MH/BTC

4800GH/s of total power are divided in 17899 BTC into active deposits ('cause every BTC has 268.17 MH/BTC associated: 4,800,000MH/s ÷ 268.17MH/s/BTC → 17899BTC).

In queue there are 175.5GH/s, at .04 BTG/s they are 7 BTC.

After the deployment the infrastructure will be: (4800 + 175.5)GH/s ÷ (17899+7)BTC → 277.8MH/s (+3%)

With 70 and 700 BTC in queue the improvement will be of 30% and 234%.

Now the growth of difficulty is 116%/month [1], with 230BTC/months of new investments we can keep the break event constant.

It time to click on the link in my signature and deposit bitcoin B-) ;-)


[1] http://mining.thegenesisblock.com/

You cant use the current infrastructure as your base, it increases on a regular basis. He also installed more hardware then was queued up for the asic preorder. The problem with your math is this.

4800000/270=17777.778
4800000/300=16000

See what happened? As the rate went up the total invested went down... That's not possible

Last time was quick and dirty, this time I will show my work for the class...
Here is how I did the math.
Old new infrastructure / current. Last one I could find was 2857.14/MHS
2857.14/268.17=10.6542119
We were going for 10GHS per btc so here is how its done.
10,000mhs/2857.17=3.49996675

Now we multiply Current infrastructure ratio with the wanted ratio...
10.6542119*3.49996675=37.2893874
Now we Multiply the current hashrate
4.8ths*37.2893874=178.98906ths TOTAL to bring us to 10ghs per btc.
178.98906-4.8=174.18906 Now we divide the new total hashrate with the New infrastructure rate.
174189.06/22.8=7639.87105btc needed to get us to 10ghs

This an extreme, I doubt we will see 10ghs per btc for quite sometime
And again, this math doesnt account for the paying off of older accounts, nor the fact that he has capped the amount of investments to the available hardware.

[rdyoung]

Some more math to wrap your brain around...

Estimated total BTC invested...
Current hashrate, 4,800,000MHS / last new infrastructure 2857.14
4,800,000/2857.14=1680.00168BTC invested

1680btc ===== A lot lower than the other wacked out equations being thrown around...


And again, this is an estimate, only pyramining knows exactly how much is invested...

[inaltoasinistra]

You cant use the current infrastructure as your base, it increases on a regular basis. He also installed more hardware then was queued up for the asic preorder. The problem with your math is this.

4800000/270=17777.778
4800000/300=16000

See what happened? As the rate went up the total invested went down... That's not possible

I don't understand, sorry

If current infrastructure increases to 300 and the total hashrate isn't increased, it means that there aren't new investments and some deposits were completed: this is the reason why the total invested went down, it is not the total invested, but the BTC into active accounts.

If there are new investments the total hashrate increases, the BTC of active accounts increases and the current infrastructure is recomputed by Pyramining

[rdyoung]

You cant use the current infrastructure as your base, it increases on a regular basis. He also installed more hardware then was queued up for the asic preorder. The problem with your math is this.

4800000/270=17777.778
4800000/300=16000

See what happened? As the rate went up the total invested went down... That's not possible

I don't understand, sorry

If current infrastructure increases to 300 and the total hashrate isn't increased, it means that there aren't new investments and some deposits were completed: this is the reason why the total invested went down, it is not the total invested, but the BTC into active accounts.

If there are new investments the total hashrate increases, the BTC of active accounts increases and the current infrastructure is recomputed by Pyramining

Whats hard to understand?
We are talking about a constant, IE the total amount of btc that has been invested in pyramining. Not the actual btc invested at any given time.

He bought more hardware than was preordered. If the hashrate goes up its because of 2 things, 1) new deposits that took some the excess hardware, and 2) completed deposits.

[platti]

And again, this is an estimate, only pyramining knows exactly how much is invested...

everybody can check the accounts , and how much is invested in it.
everybode can click throught the most accounts

You can start with http://pyramining.com/account/browse?id=s9q3bxy8

Status:   active
Total deposited amount:   10.28687931
Rewarded amount:   388.88273278
Sent amount:   388.80402217
Completion:   91%

you get invested amount
and then click all referals and sponsoraccounts
and so on


I checked all accounts, which i could see, and this are more than 99% of all accounts
and the invested sum of bitcoins is more than 18000

if anybody is interested, i can make a list

[rdyoung]

And again, this is an estimate, only pyramining knows exactly how much is invested...

everybody can check the accounts , and how much is invested in it.
everybode can click throught the most accounts

You can start with http://pyramining.com/account/browse?id=s9q3bxy8

Status:   active
Total deposited amount:   10.28687931
Rewarded amount:   388.88273278
Sent amount:   388.80402217
Completion:   91%

you get invested amount
and then click all referals and sponsoraccounts
and so on


I checked all accounts, which i could see, and this are more than 99% of all accounts
and the invested sum of bitcoins is more than 18000

EDIT: I WAS WRONG>>> I missed part of the equation...

http://web.archive.org/web/20130619213904/http://pyramining.com/

Using the #s on that page, we get a total invested BTC of 3937.
I assumed the same cost for the next 2.6th as the first 2.2th

Add the fpga to that and we get 17106 btc

[platti]

if anybody is interested, i can make a list tomorrow

[platti]

i have the data on my pc in my office

this are more than 3750 accounts, which i checked.
I have more than 300 BTC invested here, and I want to know, whats going on

[rdyoung]

i have the data on my pc in my office

this are more than 3750 accounts, which i checked.
I have more than 300 BTC invested here, and I want to know, whats going on

I was wrong...
I was forgetting the fpga hardware in my math.

Total I come up with is 17106btc

But before someone goes OMG thats worth 6.8mill$ currently.
there was 13169 btc invested in fpga when bitcoin was in the single digits. That is why we are still so low on the ghs/btc ratio

[platti]

But before someone goes OMG thats worth 6.8mill$ currently.
there was 13169 btc invested in fpga when bitcoin was in the single digits. That is why we are still so low on the ghs/btc ratio

and that is why i posted some days ago, pyramining should freeze hashrate for older accounts, and new accounts gets high hashrate. Or nobody will invest new bitcoins

[platti]

if pyramining freeze the total hashing power of 4.8TH/s for old deposits, hashrate  will grow, when old deposits reach 100%.

And when deposits have more then real 10GHs/BTC there are new investments in pyramining.

And when you invest in a refferal account, you can accelerate payouts of old account

[rdyoung]

if pyramining freeze the total hashing power of 4.8TH/s for old deposits, hashrate  will grow, when old deposits reach 100%.

And when deposits have more then real 10GHs/BTC there are new investments in pyramining.

And when you invest in a refferal account, you can accelerate payouts of old account

He basically has done that with the hardware queue. And he queued up again for the second round of asics.
He posted a couple of weeks ago that he could purchase 2.5ths with personal funds @ the current rate, he should be able to buy 25ths of the new hardware, possibly more as btc rises.
That would be 5* the current hashrate possibly bringing us up to at least 1.2ghs/btc, and thats not including btc that he is sitting on from investors to purchase new hardware.
Seeing as 28nm is the best we can do atm it is likely he will keep bring new hardware online into the foreseeable future.