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

[rdyoung]

you'll never get your BTC back if you don't refer people. it's not even buying any new hardware.

Evidence of this?
He posted awhile back that he signed a deal with a 28nm producer and is planning on having new hardware coming online by the end of january. My hope is that this signifies a new era and he will keep bringing on hardware as the difficulty increase levels off, this will allow us to finally get back in front of the difficulty.

He hasn't invested in the old hardware, true, that however would have been throwing away money as the difficulty continues to climb.
The new asics will be at least 15x the last gen he has installed.

I would suggest you go back and skim through the posts here, there is quite a lot of bs, but there is also some information if your willing to look for it.

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[inaltoasinistra]

Maybe Pyramining could sell old hardware (ASIC) and reinvest in new; on Ebay there are people buying 1st generation hardware overpriced

[rdyoung]

Maybe Pyramining could sell old hardware (ASIC) and reinvest in new; on Ebay there are people buying 1st generation hardware overpriced

His hardware and software is custom designed, the average person is going to have no clue how to operate it.

[easyMony]

There is some way to leave the system/site with investment and profits?

Regards

Pyra?
No, he converts all deposits to cash to buy hardware.
There is no withdrawal option.

Ok with the deposits then...and the profits?

[rdyoung]

There is some way to leave the system/site with investment and profits?

Regards

Pyra?
No, he converts all deposits to cash to buy hardware.
There is no withdrawal option.

Ok with the deposits then...and the profits?

You will get paid in .10btc increments as your account earns it until you've been paid the 110% of your deposits.
There is no withdrawal, you will get paid when you hit .10btc in accumulated earnings.

[Aalesund]

In pyramining.com I see: Next GH/s cost: 0.03 BTC
I have deposited amount: 0.01 BTC
Therefore, should I get a hashing power speed of 0.333 GH/s (333 MH/s)
But in my profile I see: Equivalent hashing power: 3.0 MH/s
There is a bug or GH/s price is not real?

[rdyoung]

In pyramining.com I see: Next GH/s cost: 0.03 BTC
I have deposited amount: 0.01 BTC
Therefore, should I get a hashing power speed of 0.333 GH/s (333 MH/s)
But in my profile I see: Equivalent hashing power: 3.0 MH/s
There is a bug or GH/s price is not real?

Your looking at the new hardware cost. That's what he is paying for the next batch of hardware. The current infrastructure cost is what you need to look at.
Its not a bug. The asic investors are subsidizing the fpga investors, so things are a little lopsided. As the FPGA deposits are paid off things will swing back in our direction.

[Hamguy]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

[inaltoasinistra]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

[rdyoung]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

[BadBear]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

[rdyoung]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

Math to back this up?
So the network is going to grow exponentially without end?
How big will the network be in 6 months? 50PHS?? 100PHS?? 200PHS??

[inaltoasinistra]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

2nd generation ASICs is coming

[rdyoung]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

2nd generation ASICs is coming

=topic=80845.msg3668972#msg3668972 date=1385076371]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

2nd generation ASICs is coming
[/quote]

If your referring to 28nm, its already here. knc is using it if I am not mistaken and cointerra should already be shipping.
The larger the network gets the more hardware you need to push it higher.
You also have to account for the older hardware being turned off as they stop being profitable. It won't be a large impact but it will counter some of the increased hashing power.

[Coin.Karma]

Hey all,

I am interested in selling of my pyramining accounts, if anyone is interested, we could work out a method which is suitable to all parties. Please visit the link for details about the accounts.

https://bitcointalk.org/index.php?topic=328654.0

you can place bids of what you think might be a fair price, considering all the aspects. Very early account, you can also deposit an really increase the % further. This is the last of my BTC online, I would like to take it offline.

thanks
karma

[Tittiez]

So the New infrastructure shot up from the 20s to over 40GHs per btc.

[Boelens]

Is this still active and such? When will new hardware be deployed? I invested 0.2BTC a while ago back when it wasn't worth much to try it out, I regret it now.

[Su100]

I have just joined them today just as a test with 0.02 BTC.

After som 8 hours I see:

Brief account stats
Status
Active referrals:   0
Current bonus:   10.0%
Eq. hashing power:   0
Reward completion:   0%

Brief Pyramining stats
Investment estimations
Break even:   ~ 177 months
Complete reward:   ~ 195 months
Current infrastructure:   268.1 MH/BTC
New infrastructure:   ~ 43.7GH/s/BTC

Does this mean I get 0 hashing power?

Thanks for the answer in advance

[rdyoung]

I have just joined them today just as a test with 0.02 BTC.

After som 8 hours I see:

Brief account stats
Status
Active referrals:   0
Current bonus:   10.0%
Eq. hashing power:   0
Reward completion:   0%

Brief Pyramining stats
Investment estimations
Break even:   ~ 177 months
Complete reward:   ~ 195 months
Current infrastructure:   268.1 MH/BTC
New infrastructure:   ~ 43.7GH/s/BTC

Does this mean I get 0 hashing power?

Thanks for the answer in advance

Your deposit is queued until he starts receiving the new hardware.

[rdyoung]

It is working for me. Queue size of 300H/s lol

mine is 54.1MH/s at 2% complete
it says mine is going to take 177 months, thats 14 years! i cant wait 14 years for 140$ in bitcoins, is there a way to just quit.

Is not 14 years... Every months you must double this valuation


(until new hardware is ready)

http://bitcoinwisdom.com/bitcoin/difficulty
True, its been going up like a bat out of hell, but it can't do that forever.
Last increase was 19.29% and its looking like the next one will be 20.xx% so cross your fingers that we are seeing it level off.

Not going to happen anytime soon. Investing in this is fail.

2nd generation ASICs is coming

Something else to consider, there are at least 3 other sha256 coins that can not be merged mined. Its likely that some of the hardware thats been shipping from cointerra, knc and the rest are being pointed towards the altcoins.