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Author Topic: http://www.pyramining.com/ - Discussion thread (no advertising here)  (Read 297160 times)
rdyoung
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November 13, 2013, 10:31:41 PM
 #1961

I am wondering if there is a way to withdraw my coins? Also if not is there a way to get it moving faster other than depositing more coins? I am trying to figure this whole thing out but I cannot. I am hoping that someday I just get a strange payment for a bunch of coins when I am down on my luck, stranded in the middle of nowhere and coins are at $100,000 a coin. LOL

How much did you invest in BTC? When did you invest?
If you invested a small amount, it will be quite awhile before you see a payout, unless he is able to bring on enough hardware to turn the tide against the rising difficulty.
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rdyoung
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November 13, 2013, 10:41:38 PM
 #1962

I am wondering if there is a way to withdraw my coins?
No. Your coins are gone

No. His/Her Coins were converted into hardware.



Dont think so. I have to agree with him, his coins are gone.

Anybody got his/her "investment" from pyramining after the months?

I'm think the BTC were not invested in hardware, but instead in drinks and party  Grin

You can look at the blockchain and verify that the coins are being mined.
If your being facetious, thats one thing, however if your not, kindly provide real facts backing your position....

Break even:   ~ 149 months
Complete reward:   ~ 163 months
Current infrastructure:   268.15 MH/BTC
New infrastructure:   ~ 20.5GH/s/BTC

BTC price at this moment is $440.

With 1BTC I can get several times more than 300MH/s. And with 2-3 BTC I can get more than 20.5GH/s. Way more. This is a fact.

I am not sure quite where to start.
The system is weighed down by the original fpga investors when btc was 5$. So the first round of asics with btc @100$ is split with the fpga investors, and now this next round will be split with us with btc @400$+ And with this 28nm asics he should be able to keep bringing hardware online and the price will continue to drop and the our hashrate will go up. My bet is that the terms were written before BTC made this insane climb, once the first round of asics is produced the price will likely go down.

Yes, you buy from cointerra @3$/GHS, but then you have to handle everything, you have to pay for power, you have monitor for downtimes and keep it going.
Not to mention the fact who knows when youll get yours, and what the hashrate will be when you do.
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November 13, 2013, 10:47:13 PM
 #1963

New infrastructure:   ~ 21.7GH/s/BTC

@ 400$/btc thats 18.43$/GHS.

And his deliveries are GUARANTEED, He is not waiting in a preorder que with who knows how many other people in front of him with an unknown delivery window.

In other words, HE KNOWS that he will get hardware delivered and when that will be.

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November 13, 2013, 11:20:46 PM
 #1964

to reach an average hashrate from 10 GHs/ BTC for all accounts, pyramining needs investmentgs of more than 18000 BTC.

 

rdyoung
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November 14, 2013, 12:29:09 AM
 #1965

to reach an average hashrate from 10 GHs/ BTC for all accounts, pyramining needs investmentgs of more than 18000 BTC.

 

What exchange rate are you basing that on?
At this rate I see 1000$ not to far away.
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November 14, 2013, 01:02:47 AM
 #1966

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

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November 14, 2013, 01:55:13 AM
 #1967

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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November 14, 2013, 03:09:30 AM
 #1968


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...

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November 14, 2013, 03:20:29 AM
 #1969


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.
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November 14, 2013, 04:17:16 AM
 #1970

That new infrastructure is making me all excited. I put 5 bitcoins in here back in 2012, zero regrets.
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November 14, 2013, 08:58:00 AM
 #1971

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
 

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November 14, 2013, 02:12:55 PM
 #1972

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

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November 14, 2013, 03:59:53 PM
 #1973

Tell me if I'm making mistrakes:

Quote
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
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November 14, 2013, 05:32:24 PM
 #1974

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.
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November 14, 2013, 05:59:50 PM
 #1975

Tell me if I'm making mistrakes:

Quote
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
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November 14, 2013, 11:16:08 PM
 #1976

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
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November 14, 2013, 11:22:09 PM
 #1977

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 Shocked

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
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November 14, 2013, 11:29:49 PM
 #1978

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 Shocked

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.
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November 15, 2013, 12:15:31 AM
 #1979



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
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November 15, 2013, 12:28:47 AM
 #1980



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
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