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

[pyromaniac]

Will splitting deposits work?
For example, I want to invest 1 BTC and make two deposits in the same account, one 0.5 BTC and one 0.50001111, then my account will increase by 1 BTC but 0.5 will not be used to buy FPGAs but explicit for ASICs?

Yes it works. You can also deposit with x.xxxx1111 on existing accounts, and they will be used for ASIC only.

I've sent 1.10001111 BTC to try this new feature, but my wallet tells that were sent x.xxxx1513 BTC. Is this correct? Is this amount with commision? Will it be added to the ASICs or to old FPGAs?

[pyramining]

I've sent 1.10001111 BTC to try this new feature, but my wallet tells that were sent x.xxxx1513 BTC. Is this correct? Is this amount with commision? Will it be added to the ASICs or to old FPGAs?

That amount includes your transaction commissions. It has been received as 1.10001111, and added to ASICs.

[pyromaniac]

I've sent 1.10001111 BTC to try this new feature, but my wallet tells that were sent x.xxxx1513 BTC. Is this correct? Is this amount with commision? Will it be added to the ASICs or to old FPGAs?

That amount includes your transaction commissions. It has been received as 1.10001111, and added to ASICs.

Thank you.

[btharper]

would it be possible to change my payout address?

First thought this was dumb, then I checked and I've got an account pointing at an old GLBSE address, and as much trouble as has been had with everything else, I doubt there's anyway I can get Nefario to hand over the private keys. So is this possible?

[pyra-proxy]

Even though I sent a PM about this, perhaps other users know the answer already or have the same question...

If an ASIC deposit is made does it just sit idle until the asics are setup or does it still earn rewards from existing hardware?

Thanks!

[pyramining]

would it be possible to change my payout address?

First thought this was dumb, then I checked and I've got an account pointing at an old GLBSE address, and as much trouble as has been had with everything else, I doubt there's anyway I can get Nefario to hand over the private keys. So is this possible?

Write a PM with account details and some evidence that the account is yours. I will evaluate what can be done.

[pyromaniac]

What would happen with our investments if butterflies is a scam? 

[Raoul Duke]

What would happen with our investments if butterflies is a scam? 

Get paid faster?

[pyromaniac]

What would happen with our investments if butterflies is a scam? 

Get paid faster?

Yep.

[🏰 TradeFortress 🏰]

I have 0.3 BTC - worth putting it in Pyramining or no?

[pyra-proxy]

I have 0.3 BTC - worth putting it in Pyramining or no?

It's recommended that you use larger amounts, of course with the asic preorder option that could pay off well come release of the asics.  On the other hand you could always crowdfund it and invest it into one of my current proxy pyramining projects (see sig)  and that way your sum will be added in with others and the pyramining payouts will be returned in the form of dividends and you can sell your participation in the project any time you choose instead of having to wait the whole 12+ month time frame to have your investment break even 

It is a really good mining service though however you look at it!  Thanks a bunch pyramining for this innovative approach to community mining cooperatives!

[🏰 TradeFortress 🏰]

Hmm, just one last question - I'm a bit confused about why ASICs and FPGAs are separated. If I invest in ASIC, I assume I won't get returns until the hardware ships?

[pyra-proxy]

Does the ASIC pre-purchase still give bonus mining boosts to the upstream accounts even while dormant, save for not adding additional hashing power?

[pyramining]

Hmm, just one last question - I'm a bit confused about why ASICs and FPGAs are separated. If I invest in ASIC, I assume I won't get returns until the hardware ships?

ASIC and FPGA will be separated until ASIC will be put into production. At that time, there will be no difference: all deposits will buy ASIC only.

If you deposit normally, you instantly add ~ 12 MH per BTC. If you deposit for ASIC, you will add ~ 769 MH per BTC when they will be available, but in the meantime the deposit is "sleeping".

Does the ASIC pre-purchase still give bonus mining boosts to the upstream accounts even while dormant, save for not adding additional hashing power?

It will add mining boosts and bonuses when they will be activated.

[pyramining]

I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

[pyromaniac]

I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I repeat my question. What would happen with our investments if seller of ASICs is a scam? Who is your vendor?

[eliale]

I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I repeat my question. What would happen with our investments if seller of ASICs is a scam? Who is your vendor?

Pyramining is not buying ASIC......  They are producing ASIC 

[pyramining]

I repeat my question. What would happen with our investments if seller of ASICs is a scam? Who is your vendor?

And I repeat the answer (it has been stated even in previous posts): I am not buying hardware from a vendor, we're developing our solution through a few partnerships with hardware designers. If well known vendors are a scam, it will mean that difficulty won't increase as much as expected and payments will happen much more quickly.

[pyromaniac]

I repeat my question. What would happen with our investments if seller of ASICs is a scam? Who is your vendor?

And I repeat the answer (it has been stated even in previous posts): I am not buying hardware from a vendor, we're developing our solution through a few partnerships with hardware designers. If well known vendors are a scam, it will mean that difficulty won't increase as much as expected and payments will happen much more quickly.

I'm sorry, I think I missed your answer last time.

[Monkey1]

I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals.  I reached break even in approx 6 weeks!!  Referals massively speed up the process.