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Author Topic: http://www.pyramining.com/ - Discussion thread (no advertising here)  (Read 301315 times)
artbatista
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November 18, 2013, 07:02:22 AM
 #2021

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.



I invested again in September and he applied my new deposit at the OLD rate, despite having specifically said here (in this thread) that all new deposits would be at the ASIC rate.

I've been trying to get a reply from him for over 5 weeks now, still no response.

I would seriously think very, very hard before investing one Satoshi in Pyramining.

Art

To play devils advocate here.... You did get the "asic" rate.
The rate before asic implementation was 11mhs/btc
After asic it went to 222.89/btc

Pyramining did do a poor job of explaining things.
But as I have posted previously, we are subsidizing the fpga investors.
FPGA outweighs first round asics by 4/1. Thats why the rate is so low.
But as pyramining has posted this will turn to an advantage, as asics get cheaper and more efficient we will all see our rate increase.

The day I invested, the pyramining website said "new infrastructure: 2.5 GH per BTC"

When I previously invested (months ago) it was before ASIC and I got the same 268 MH per BTC I got after ASIC. I don't see how that can possibly be right.

Anyway, at this point, if pyramiding would take a moment to reply to my now months old attempt at reaching him I would accept any ruling he makes. I am just pissed now that I have utterly ignored.

Art

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rdyoung
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November 18, 2013, 08:10:58 AM
 #2022

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.



I invested again in September and he applied my new deposit at the OLD rate, despite having specifically said here (in this thread) that all new deposits would be at the ASIC rate.

I've been trying to get a reply from him for over 5 weeks now, still no response.

I would seriously think very, very hard before investing one Satoshi in Pyramining.

Art

To play devils advocate here.... You did get the "asic" rate.
The rate before asic implementation was 11mhs/btc
After asic it went to 222.89/btc

Pyramining did do a poor job of explaining things.
But as I have posted previously, we are subsidizing the fpga investors.
FPGA outweighs first round asics by 4/1. Thats why the rate is so low.
But as pyramining has posted this will turn to an advantage, as asics get cheaper and more efficient we will all see our rate increase.

The day I invested, the pyramining website said "new infrastructure: 2.5 GH per BTC"

When I previously invested (months ago) it was before ASIC and I got the same 268 MH per BTC I got after ASIC. I don't see how that can possibly be right.

Anyway, at this point, if pyramiding would take a moment to reply to my now months old attempt at reaching him I would accept any ruling he makes. I am just pissed now that I have utterly ignored.

Art
Reread my last post. I have explained why we are getting the measly 2xxmhs instead of ghs per btc.
Your misinterpreting the #s on the site.
new infrastructure is the price/btc he is paying for new hardware. The current infrastructure is our individual piece of the pie.

Again. Current infrastructure was 11mhs before asic.
rdyoung
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November 18, 2013, 08:27:46 AM
 #2023

Anyone tell me what happend with Pyramining??

I Deposit some BTC on 2013-11-16 13:21:01 UTC, but until now my deposit status "queued".


He has more hardware on order so he is not activating any new deposits until the new hardware starts to arrive.
Tittiez
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November 19, 2013, 11:16:08 AM
 #2024

Anyone tell me what happend with Pyramining??

I Deposit some BTC on 2013-11-16 13:21:01 UTC, but until now my deposit status "queued".



Wait for new hardware to arrive. There isn't really money to be made right now anyway.
birkomester
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November 19, 2013, 05:45:10 PM
 #2025

IS this worth it?

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE
The Premier Bitcoin Gambling Experience @PrimeDice
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pyra-proxy
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November 19, 2013, 05:58:39 PM
 #2026

IS this worth it?

This is not an easy answer right now.  Bitcoin ROI is slow at the moment, but with the BTC exchange rate going to the moon and back and back again and again, people here have seen their investment value in fiat also go to the moon.  If you're twitchy with your BTC in trading/selling it to fiat this service is very valuable treated as an "interest bearing savings account", but if you're looking for quick BTC ROI then there are many other options which are better at the moment.

chenchunyu88
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November 20, 2013, 04:49:01 PM
 #2027

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

rdyoung
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November 20, 2013, 05:08:37 PM
 #2028

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.
inaltoasinistra
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November 20, 2013, 05:36:03 PM
 #2029

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

rdyoung
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November 21, 2013, 12:15:37 AM
 #2030

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
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November 21, 2013, 12:36:38 AM
 #2031

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
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November 21, 2013, 01:04:32 AM
 #2032

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
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November 21, 2013, 09:32:42 AM
 #2033

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?

Let's color the MOON: YN4VBGgcmm7nAGqhc2zeUN7eJXCxfWyWGa
rdyoung
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November 21, 2013, 03:08:27 PM
 #2034

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
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November 21, 2013, 10:27:00 PM
 #2035

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

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.

Bitbillions (http://www.bitbillions.com/?refid=1PqHyYh5XWuw3vkR6XS7Qtx5JVpz7i7AKCool    COINGENERATION (http://coingeneration.com/auth/new/481519/)    Pyramining (http://www.pyramining.com/referral/69ektmn42)   
Donations: [BTC)  1FG43LPqdhgPzPmxDK4dMHDJ1aRzaUsWAJ  (https://coinbase.com/checkouts/c45d7cc9fbe8ce46e82b7ef6e014fe4d)[LTC) LbwGbEYrzQ6ZXtAkPEUsCYqQBYfMEfETCE
inaltoasinistra
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November 21, 2013, 11:26:11 PM
 #2036

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

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
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November 22, 2013, 03:01:59 AM
 #2037

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

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
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November 22, 2013, 07:52:26 AM
 #2038

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

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.

1Kz25jm6pjNTaz8bFezEYUeBYfEtpjuKRG | PGP: B5797C4F

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rdyoung
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November 22, 2013, 08:13:49 AM
 #2039

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

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
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November 22, 2013, 08:37:57 AM
 #2040

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

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

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