More Bullshit FUD.
It could be a ponzi except for the fact that you can trace back all payouts to the generation of those coins.
And seriously??? He was supposed to lead the way in asics? What flying elephant whispered this in your ear?
Do you have any idea the cost involved with developing a microchip design for the first time?
I didn't mean that he was going to develop them, I meant he was going to preorder them.
The reason you didn't is that your so full of shit I can smell it from here, you saw pyramining and thought ooohhh easy money I can be a billionaire with this magic internet money. You clearly have no clue how the bitcoin network works, nor do you have any idea what it takes to run a business or investment of any kind.
Go kiss his ass more. Like I said before, I didn't invest much at all. I didn't trust pyra then and now I see I was right. My potential losses were only a few hundred dollars. I'm pissed because many other people invested A LOT.
Do you have any idea what it takes to run a business or investment of any kind.
Do you? Apparently you let people rob you, then you jump to their defense.
So first he was supposed to "lead the way" in asics, which most people would understand to means produce asics better and faster than anyone else. But now you mean he should have preordered asics? When he has refused to do so because he doesn't want to tie up investors funds. Lets say he had preordered from bitmine or hashfast, what would you be saying now with delays at those companies?
I feel for you if you think that my standing up to unsubstantiated and ignorant FUD is kissing his ass.
I do in fact have a lot of experience running my own business as well as investing in various instruments, exchanges, etc.
The reason I waste my time posting in response to BS like yours is that I am tired of legitimate discussions being trolled away and hidden from view because people like you were greedy and either cashed out a CC or invested your rent money hoping to become a billionaire.
Mining for most people has never and will never be a get rich quick opportunity. It takes time, investment and knowledge. 2 of which you apparently lack in.
Pyra's reward design is only flawed because NO ONE saw the quick jump from gpu/fpga mining to asics. He took in a lot of BTC when it was cheap and used it for FPGA and then the design and implementation of asic. Its because of the spike in price as well as asic that pyramining is a bit off at the moment.
Other types of investments might have said the hardware you bought is no longer profitable so your deposit is null and void. Pyramining on the other hand splits new hardware purchases with older deposits so that everyone will eventually get their return.
If you go back through this thread you will see plenty of people who see pyramining for what it is, a long term investment.
It is frustrating that pyra hasn't already brought on 100s of ths to get things moving, but if you have a basic understanding of the way bitcoin works as well some basic math skills, you are able to see that he is waiting for the difficulty increases to level off.
We likely will see a network hashrate at 100phs with difficulty near 15billion before it levels off, but it will. The larger the network gets the more hardware is needed to make an impact, and until we see 14nm chips capable of 1ths each and very low power requirements, it can't keep growing like this.