btcftw
Newbie
 Offline
Activity: 29
Merit: 0
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July 21, 2012, 09:21:59 PM |
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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.
I definitely see a change in my rewards. Already got three times my usual reward today!! Great news  |
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"You Asked For Change, We Gave You Coins" -- casascius
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bravetheheat
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July 22, 2012, 01:16:09 PM |
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Beautiful results  Got three payments in one day. GO PYRAMINING  |
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gnpeer
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July 22, 2012, 03:40:35 PM
Last edit: August 30, 2012, 07:33:40 AM by gnpeer |
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pyramining (OP)
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July 22, 2012, 08:17:05 PM |
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Works on the new infrastructure are almost completed. Now you can enjoy all the benefits of Pyramining. Thanks for your patience in the past few weeks.
Two news that might interest some of you:
1) There is another 120GH/s upgrade in progress, it will become operative on September.
2) We started working on our own ASIC infrastructure (not B*****F** L***), but it's too early to say anything more about it.
Happy Pyramining!
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Akka
Legendary
Offline
Activity: 1232
Merit: 1001
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July 22, 2012, 08:28:19 PM |
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Just awesome pyramining. Its really great to see that I have put my BTC in good hands Happy Pyramining to everyone. |
All previous versions of currency will no longer be supported as of this update
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Raoul Duke
aka psy
Legendary
Offline
Activity: 1358
Merit: 1002
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July 22, 2012, 08:32:23 PM |
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finkleshnorts
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July 22, 2012, 08:37:10 PM |
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Ah, it's my last payout. Of course. Sorry. |
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btharper
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July 22, 2012, 09:03:22 PM |
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If you're mining blocks anyway, why wait until 1BTC has been accumulated, why not just send it out smaller amounts weekly or monthly? Or are payments being managed manually for now?
Edit: Some lower floor would probably still make sense, but it seems like it could be much lower than current (0.01 maybe?)
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pyramining (OP)
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July 22, 2012, 09:08:53 PM |
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If you're mining blocks anyway, why wait until 1BTC has been accumulated, why not just send it out smaller amounts weekly or monthly? Or are payments being managed manually for now?
It is everything automated. 1 BTC is a fair amount (people won't starve because they're waiting their 1 Bitcoin back) and allows to reduce the quantity of transactions (and costs, not only bitcoin fees - I am referring to keeping logs, consistency and everything related). |
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pyramining (OP)
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July 22, 2012, 10:52:43 PM |
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Maybe it's worth to mention: if in the future it will happen that you see the website down, don't despair, I won't ever shut it down without notice. Just keep your breath and you'll see it coming up again a while later!
I think it's not worth it to spend money on a redundant web platform to keep the site up during maintenance, I find it's better to invest it into mining hardware and maximize profits!!! I will always try to keep downtimes as short as possible.
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pyramining (OP)
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July 23, 2012, 09:53:32 PM |
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Update: the infrastructure update is complete!
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Urdawg
Newbie
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Activity: 11
Merit: 0
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July 24, 2012, 12:34:58 AM |
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TravisE
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July 24, 2012, 08:54:41 AM |
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Awesome. Will this reduce the breakeven/complete reward times noticeably (they don't seem to have changed on the stats page)?
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gnpeer
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July 24, 2012, 10:50:58 AM
Last edit: August 30, 2012, 07:33:54 AM by gnpeer |
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zyk
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July 24, 2012, 02:12:29 PM |
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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
Hi Akka, now we got our new infrastructure and when you do your maths counting mining reward.....your break even- let alone bonustime...is pushed out to 2 years...by then the difficulty is reducing rewards, so its pushed out to another 2years....and so on ( therefore its called pyramining...pyramiding losses on investment capital:-) sure you´ll get it.....what i still need to get is where the barrel is leaking....and how to change this! Cheers Zyk |
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pyramining (OP)
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July 24, 2012, 07:18:44 PM |
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7.96 MH/BTC and ~9 months for break even
Is that complete update?
7.96MH/BTC is the average performance, counting up old hardware and new hardware. Each new bitcoin deposited increases the total hashing power of 14.41 MH/s (actually) therefore increasing the average. 9 months for breakeven is a great result and a very short term. I don't think that any mining operation can obtain such high performances. Actually there are 63.8GH/s officially allocated. In reality, I put another 80GH/s (temporarily, using my personal funds), in order recover from the initial period which have been too "slow" because of several causes. These extra 80GH/s will be removed in about 6 weeks and therefore are not displayed in statistics. When other deposits are received, the 63.8GH/s increases, and they are allocated from the available hardware, which is around 100GH/s now, and it will be increased by other 120GH/s by september. |
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pyramining (OP)
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July 24, 2012, 07:21:52 PM |
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now we got our new infrastructure and when you do your maths counting mining reward.....your break even- let alone bonustime...is pushed out to 2 years...
You made your calculations wrong. Please check them again. It's not possible that you get a 2 years breakeven. by then the difficulty is reducing rewards, so its pushed out to another 2years....and so on ( therefore its called pyramining...pyramiding losses on investment capital:-)
Please don't write things that are not real. |
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zyk
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July 24, 2012, 09:14:46 PM |
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I was just telling you something you probably didn't knew: that you need to reach at least 1 BTC in rewards to get your money out.
If your reward is less than 1BTC, it gets paid out as soon as complete. If your expected reward is higher, you will get paid each time your balance goes over 1BTC. Also, we may all be waiting 2 years or double that to get our full rewards back  I can't tell exactly how much time is needed to get full rewards but a reasonable time is between 6 to 10 months. In the FAQ section it is reported the current price per GH/s, actually is around 145 bitcoin. Do your math. First, let me say that i find the whole site , idea and arrangement really beautiful and very well designed. But the stats don´t add up.... Ok sorry...i see, its six times a day payout right now....i thought of only four......then the time horizon should be better.....i appologize for exagerating, but as in the above post stated with costs per GH/s now halved , having taken in huge amounts of new investments ( care to put it in stats as well?) the then estimated time of 6 to 10 months should at least be halved as well: to 3 to 5 months! Instead we need to be grateful that you add from your private hashing power that we can barely reach the ten months break even..... As the referral system is a success cause we all invest beside the capital a bit of labor as advertising power too , the fruits should be evenly divided. Am not feeling well off if break even time stays the same and am ashamed for having advertised 120Gh/s.................. Cheers Zyk |
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