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

[pyramining]

But If BFL ASIC is real and you don't manager to pre-order now, that would be a disaster for Pyramining investors in just 3 months from now! by then the mining reward of Pyramining would be reduced by at least 20 times the current reward up until you manage to upgrade to ASIC! And by then you wouldn't be able to upgrade all your mining hardware! And if you do, that will require at least another 2 months. You shouldn't take such risk "just my opinion"!

And what if I use deposited funds to preorder BFL equipment and they don't release it? If they run away with money, investors will not be in a good mood. If they will delay shipping, the capital will anyway be "freezed" and it wouldn't produce any reward. I think that preordering BFL equipment is a bigger risk.

The WORST thing that can happen is that BFL starts shipping ASIC equipment in october, I will place orders, and they will take some months to deliver it. I have a strategy in mind to alleviate this, and at the same time I think it's not productive to speculate on "how things could be", we don't have the crystal sphere to see in the future.

Consider also that ASICs are not FPGAs, they have a huge cost in engineering and setting up production, but after that, chips will cost a few dollars each, and they are mass-produced. I don't think that there will be problems with supply, and if there will be any, they probably will be "artificial". I don't think it's worth preordering.

Would you feel safe investing (preordering), with other people's funds, hardware from a company that's far away, nobody visited it, claim unrealistic performances, has a bad customer care, the address published is a PO box, claim to have a venture capitalist and doesn't mention who is it, asks 100% price for preorders, ... (I can continue for several rows).

[zyk]

But If BFL ASIC is real and you don't manager to pre-order now, that would be a disaster for Pyramining investors in just 3 months from now! by then the mining reward of Pyramining would be reduced by at least 20 times the current reward up until you manage to upgrade to ASIC! And by then you wouldn't be able to upgrade all your mining hardware! And if you do, that will require at least another 2 months. You shouldn't take such risk "just my opinion"!

And what if I use deposited funds to preorder BFL equipment and they don't release it? If they run away with money, investors will not be in a good mood. If they will delay shipping, the capital will anyway be "freezed" and it wouldn't produce any reward. I think that preordering BFL equipment is a bigger risk.

The WORST thing that can happen is that BFL starts shipping ASIC equipment in october, I will place orders, and they will take some months to deliver it. I have a strategy in mind to alleviate this, and at the same time I think it's not productive to speculate on "how things could be", we don't have the crystal sphere to see in the future.

Consider also that ASICs are not FPGAs, they have a huge cost in engineering and setting up production, but after that, chips will cost a few dollars each, and they are mass-produced. I don't think that there will be problems with supply, and if there will be any, they probably will be "artificial". I don't think it's worth preordering.

Would you feel safe investing (preordering), with other people's funds, hardware from a company that's far away, nobody visited it, claim unrealistic performances, has a bad customer care, the address published is a PO box, claim to have a venture capitalist and doesn't mention who is it, asks 100% price for preorders, ... (I can continue for several rows).

Very well outlayed strategy....yep better to bring those 12 boxes online finally...that completition is even done before october and difficuly increase

What are they doing right now by the way - sitting idle?

BFL will present nothing before next year - better for Bitnodes to get some hashing power from pyramining and pyramining redrawing from P2Pool


Agreed Gentlemen ?


Cheers Zyk

[pyramining]

What are they doing right now by the way - sitting idle?

Right now I have a few boxes containing the FPGA boards, a few boxes containing the heatsinks, some other containing power supplies, other with rackmount boxes, others with hubs, thermal paste, and other items&tools, waiting for me to assemble them.

[zyk]

What are they doing right now by the way - sitting idle?

Right now I have a few boxes containing the FPGA boards, a few boxes containing the heatsinks, some other containing power supplies, other with rackmount boxes, others with hubs, thermal paste, and other items&tools, waiting for me to assemble them.

so it takes a day per box to put online?  one more than yesterday is working - right?-and the mining rewards have been going down even as hashrate increased a bit since the last 24 hours...whats up?

Would you disclose special contracts with Eliale?


Thanks Zyk

[pyramining]

so it takes a day per box to put online?  one more than yesterday is working - right?-and the mining rewards have been going down even as hashrate increased a bit since the last 24 hours...whats up?

I see that you are impatient! :-) Wait a few days please, and then we will comment new performances all together! :-)

Would you disclose special contracts with Eliale?

Since we trust each other, there is an agreement between us where any pyramining member can trade with them their account. They will buy it and pay for the outstanding part of the account minus a fee. After they paid, the rewards address of the account gets switched to one of their addresses.

[Maidak]

http://pyramining.com/referral/q2fakym9t   2012-06-27 23:37:26 UTC   still active
http://pyramining.com/referral/48ptecm2x   2012-06-27 23:37:26 UTC   still active
http://pyramining.com/referral/rbyhm34ct   2012-07-03 03:48:47 UTC   still active
http://pyramining.com/referral/qeh6pb7y3   2012-07-10 16:07:59 UTC   still active
http://pyramining.com/referral/pn3dy4ske   2012-07-13 10:41:18 UTC   still active

Heres some links~

[cozie]

here some link that allow you to get 10% bonus on your deposit:

http://www.pyramining.com/referral/6y4sgxdkq
http://www.pyramining.com/referral/ak7xhymqb
http://www.pyramining.com/referral/zk6gxs7pe
http://www.pyramining.com/referral/8zecrt3a4
http://www.pyramining.com/referral/e9aqngz32

 

[Kain]

Another few referral links for the thread:
http://www.pyramining.com/referral/dncstyamf
http://www.pyramining.com/referral/m9g4cnyhr
http://www.pyramining.com/referral/g7q3zcbt4
http://www.pyramining.com/referral/zay26f37p
http://www.pyramining.com/referral/6f8nm7czq

[cozie]

any news?

[pyramining]

any news?

We're working hard on the infrastructure update. All the units will be added in block. If everything will go on time it will be before friday evening. If something will be wrong it could take up to sunday evening (yes, we'll work even during the weekend for this update).

[cozie]

so after this update we will have ~ 14.8 MH/BTC?

[zyk]

Yeah : We have superstatistics :   only 67 BTC for next GH/s    hashing power supposedly goes up to 14,8 MH per BTC  , 120 GH will be added.....so lets advertise!!

Its just that mining rewards are constantly going down day after day after day.....even as the first box was added, the break even time went out to 10 months

if thats the plan to return invested capital on the new infrastructure ......... we provide.......break even is put out to never been seen again....something fishy here

and its not even in the referral scheme

[Akka]

Hy zyk,

I'm not a 100% shure that I'm gettig what you are trying to say.

But if I look at my payouts, they stay roughly the same (slightly decreasing though).

I think payramining mines into a wallet and when this wallet reaches a certain ammount it is distributed to all accounts, wich means you reward will go down with every new account opend, but the time from one reward to the next will decrease with new hardware added.

Kind Regards

[btcftw]

Yeah : We have superstatistics :   only 67 BTC for next GH/s    hashing power supposedly goes up to 14,8 MH per BTC  , 120 GH will be added.....so lets advertise!!

Its just that mining rewards are constantly going down day after day after day.....even as the first box was added, the break even time went out to 10 months

if thats the plan to return invested capital on the new infrastructure ......... we provide.......break even is put out to never been seen again....something fishy here

and its not even in the referral scheme

There is 3 days max left for the new hardware to be installed. So until then, nothing fishy is going on. Am I anxious to see the hashing rate double, you bet, but I am being patient.

Have faith, and imagine that what you want is already there, instead of producing negative energy

[Dice]

A feature request please.

On the following page: http://pyramining.com/account/referrals

Will we be able to see the account label attached to the referral link. This is useful if we plan to perform certain actions with referrers and need a way to verify account label to referer link.

Thanks

[pyramining]

There is 3 days max left for the new hardware to be installed. So until then, nothing fishy is going on. Am I anxious to see the hashing rate double, you bet, but I am being patient.

Thanks for understanding. There is really a lot of work to assemble all that stuff, and very simple things like taking heat sinks out of the boxes and mount & fix those tiny clips in the exact position to fit them on the boards (600 pieces! It took more than one day only for this), or putting thermal paste on the surface of the chips without splashing it all around the board need a lot of time and patience.

Instead of building one box at a time (it would have taken much more time), I decided to assemble all rack-cases, prepare all the heatsinks, put thermal paste on all the chips, mounting all heatsinks, flashing all the firmware on the units and test them, and so on. That's why all the units will be all ready at the same time.

I had also to patch the management software for a bug discovered with new hardware (now it's working properly).

I'm at the point of putting boards into rack cases. Most probably before friday night (less than 1 day) I will be able to finish the work. If not, it will be the day after, and I am sure that everyone will be more than satisfied from the results. I know that working under pressure makes people more productive, and everybody is anxious to see bigger rewards, but it's not the case to say that's there's something "fishy"! If any of you want to come and see in person (or help me with the assembly), you're welcome!

[pyramining]

Its just that mining rewards are constantly going down day after day after day.....even as the first box was added, the break even time went out to 10 months

That is because many new accounts/deposits have been made, and resources are split among them. New accounts exceeded the hashing power of 1 box. Maybe the news of the incoming infrastructure had this consequence. However I invite you all to comment after the work will be finished, expecially because we're just 1 or 2 days from it.

[bigbeninlondon]

Down again?  Estimated when it will be back up?

[bigbeninlondon]

Any way we could get a "Pyramining is down for maintenance" splash page or something if you take it down for maintenance?  I understand you need to do this from time to time, and I understand down time is not always expected.  I'm just jittery because you have my bitcoins

Thanks.

[pyramining]

It was down for maintenance. I will manage a way to put up a notice for the next time. By the way, new infrastructure is online, I didn't finish yet but from now on, you should see an increase in rewards. I'll work hard Saturday and Sunday too.