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

[Raoul Duke]

Am not feeling well off if break even time stays the same and am ashamed for having advertised 120Gh/s..................

I warned you to take it easy with th referral links and that your posts where just pushing hype. You decided to antagonize me instead of listening.
Now, deal with it.

[1714007463]

1714007463

[zyk]

Am not feeling well off if break even time stays the same and am ashamed for having advertised 120Gh/s..................

I warned you to take it easy with th referral links and that your posts where just pushing hype. You decided to antagonize me instead of listening.
Now, deal with it.

Thats what am doing :


http://www.pyramining.com/referral/cq634ksby

[pyramining]

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?)

Cost for the NEW hardware halved, so new hardware is added at the cost published on the site. Older hardware has been paid more.

An example (numbers are invented):

in May people deposited 1000 BTC with 5 MH/BTC = 5GH/s.
in June people deposited 1000 BTC with 10 MH/BTC = 10GH/s.

the result is that at the end of june there are 15GH/s that costed 2000 BTC, so current hardware is 7.5MH/BTC.

the then estimated time of 6 to 10 months should at least be halved as well:
to 3 to 5 months!

Times would be halved in two circumstances: 1) half of the accounts get completed. Hardware remains, hashing for the remaining half of the accounts. 2) Significatively large deposits (or lots of small ones) are made at the new price, in order to lower down the average MH/s per BTC.

Instead we need to be grateful that you add from your private hashing power that we can barely reach the ten months break even.....

I didn't ask anybody to be "grateful". It's just that for a several circumstances (P2Pool low performances in that period, shortage of infrastructure and so on) the last 6 weeks had very slow/little returns. In order to keep the ROI in time with the expected performances I find it correct by my side to offer temporarily more hashing power for free, so ROI will be not more than 9 months (instead of ~12, when it should have been 10).

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.

If you think that your advertising doesn't give you expected results, we can discuss about it and find a way to improove it. I have been busy building the new infrastructure in the past days, but now it's done, and I am open to new ideas and I am willing to evaluate any of them.

Am not feeling well off if break even time stays the same and am ashamed for having advertised 120Gh/s..................

I advertised 120GH/s of new infrastructure to let investors know that if they invest fairly big quantities of bitcoins, I have already at least that infrastructure available to be added in no-time.

[mmavipc]

Referral links for you, they all expire 2012-07-24 22:40:44 UTC

http://pyramining.com/referral/p7hbxy9mg
http://pyramining.com/referral/xyfectbdh
http://pyramining.com/referral/mf4ce86gp
http://pyramining.com/referral/2pyhtz8k6
http://pyramining.com/referral/q624p3erc

[eliale]

…. and remember, if someone wants to get out Pyramining for any reason, please contact us at:

info@ therocktrading.com

Thank you! 

[svost]

Links updated  

http://pyramining.com/referral/p6xd7ch9k    
http://pyramining.com/referral/69ey47q28    
http://pyramining.com/referral/83rse6kqb
http://pyramining.com/referral/kn6csbhzd
http://pyramining.com/referral/9gchaf7nk   

[Maidak]

Heres some links.

http://pyramining.com/referral/2bsn7hqr4   2012-07-19 19:41:55 UTC   still active
http://pyramining.com/referral/tsk6dy2zn   2012-07-24 07:06:11 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/q2fakym9t   2012-06-27 23:37:26 UTC   still active

[gnpeer]

9+ MH/BTC and let it grow!

and btw...  
http://pyramining.com/referral/qcexpf7t6
http://pyramining.com/referral/zhq4bd7g8
http://pyramining.com/referral/zaxte2cpd
http://pyramining.com/referral/9szcfbd3h
http://pyramining.com/referral/b9ez8qkrd
http://pyramining.com/referral/dtqyxs47r
http://pyramining.com/referral/xt97zbghf
http://pyramining.com/referral/8hem9qzdf
http://pyramining.com/referral/kbt7syhq3

[davecoin]

Just Joined today, here are some referrals:

http://pyramining.com/referral/nrca82t6y
http://pyramining.com/referral/gqmxrca7h
http://pyramining.com/referral/c46s2qtxb
http://pyramining.com/referral/4s6hzb9qn
http://pyramining.com/referral/7t3ymxdk8

[Tyger]

Joined today:

http://pyramining.com/referral/73ne9hktr
http://pyramining.com/referral/s4cmhpg9z    
http://pyramining.com/referral/c6qd9p4fn    
http://pyramining.com/referral/269exshg8
http://pyramining.com/referral/r78kas9zq

[LuaKT]

Codes:


http://www.pyramining.com/referral/azxg29n4t
http://www.pyramining.com/referral/7a93zkpx8
http://www.pyramining.com/referral/dgtybap2m
http://www.pyramining.com/referral/a2bg9ftqy
http://www.pyramining.com/referral/pzhc4qn7a

[pyramining]

ASIC update: I am cooperating into a project to build new ASIC hashers. The R&D part is almost done. Expected results will be a product that is capable of 1TH/s with 0.5KW  as power requirement (almost 1/3 compared to BFL) and 1/3 of BFL cost. This means that it will remain profitable for a lot of time even with huge difficult increase.

It's not meant for selling: we are a little company and we don't have enough staff to make an external box with cool design, user-friendly software, customer care and so on. So I think that to keep price and performances very attractive/aggressive, it's better to concentrate on the core development, and in case, selling it "as a managed mining service", and not as an hardware box.

The new infrastructure will be used for Pyramining too, but I am planning also another mining farm without the "referral system" for those of you who are scared by the pyramid-scheme assonance! :-)

At this time, production will require more or less 10 months. The needed investment is huge too (a bit less than $2.000.000)! :-) I can cover more than half of it, and I am wondering if there are any of you who would like to partecipate for the remaining ~100.000 Bitcoins (at current price, $9.x). I accept all your comments and I'd like to discuss it.

Also I don't plan to use GLBSE for two main reasons: 1) keep everything simple, 2) GLBSE gets a (small) % and at those levels it's a significant amount that it would be better to funnel into the development/production and get more power.

My idea was to set up a website for the collection of funds: I keep accounts with every deposit, and I will keep those bitcoins safe. When the complete amount (my capital + deposits) reach the threshold, I will start the hardware production. In case it will not happen before a due date (to be established with you), all funds will be sent back to their owners.

If I can't reach the target alone I will need to involve other companies, but I will have to share also the technology, so there might be a bit more "competition" on mining out there. If we can find the way to do it with our own forces, profitability will be very high.

Return of investment, considering the _WORSE_ case with huge difficulty increases, will be in less than 1 year starting from when the infrastructure will be installed/working. Otherwise it will be as short as 3 months.

What do you think about it? Should I start a new thread for this discussion?

[Akka]

Interesting Idea, but considering the huge amount you need, some evidence that you are really capable of this would be fine.

Concept drawings of the hardware structure (without actual circut shemes, to not give away you knowlege), would be sufficent for me to invest in this.

[pyramining]

I can publish some documentation in the near future, now I am just exploring which is the interest in this subject and if this is a proper way to get funding.

I invite you (and any other who is interested) to drop an email at info@pyramining.com with the indicative amount of funds you're willing to dedicate to this project. If I'll see that there is enough interest, we can proceed on this way.

[finkleshnorts]

very interested!

Email sent.

And yes, great material for a new thread.

[dli7319]

Link   Created   Expired
http://pyramining.com/referral/8yka6bxe9   2012-07-02 19:28:02 UTC   still active
http://pyramining.com/referral/9nm6x4z2h   2012-06-27 13:54:03 UTC   still active
http://pyramining.com/referral/ahez9r8ys   2012-06-27 13:54:03 UTC   still active
http://pyramining.com/referral/x4esp6z8y   2012-06-27 13:54:03 UTC   still active
http://pyramining.com/referral/dhcbsz2q4   2
What I wanna see is 2 pyramining accounts that deposit into each other

[pyramining]

What I wanna see is 2 pyramining accounts that deposit into each other

It would explode! (kidding)

It's not possible, because you don't know the deposit address until you insert the rewards address. So one of them must point outside.

[gnpeer]

You can point from these:)
http://pyramining.com/referral/qcexpf7t6
http://pyramining.com/referral/zhq4bd7g8
http://pyramining.com/referral/zaxte2cpd
http://pyramining.com/referral/9szcfbd3h
http://pyramining.com/referral/b9ez8qkrd
http://pyramining.com/referral/dtqyxs47r
http://pyramining.com/referral/xt97zbghf
http://pyramining.com/referral/8hem9qzdf
http://pyramining.com/referral/kbt7syhq3

all active

[Slushpuppy]

Quick question, if one of my referrals puts more money in my reward percent would go up, but if I put more money in later would the reward percent go down?

[btharper]

Quick question, if one of my referrals puts more money in my reward percent would go up, but if I put more money in later would the reward percent go down?

Since I asked last time, here's Pyramining's previous answer from this thread

The bonus % gets smaller because it's calculated on your deposit amount, but your "absolute" earnings don't decline. I already explained how bonus is calculated, however I  am posting it again, it is:

initial_bonus + ((sum_of_referral_deposits / your_deposit) / 10)

so, let's do an example:
you join through referral and deposit 10btc: bonus is 10%, you will get 11btc.
you get two referrals which deposit 5btc each: bonus is 20%, you will get 12btc.
you further deposit 10btc: bonus drops to 15%, you will get 23btc.

now let's do another example:
you join through referral and deposit 20btc: bonus is 10%, you will get 22 btc.
you get two referrals which deposit 5 btc each: bonus is 15%, you will get 23 btc.

as you can see, it is the same.

Hope it's clear enough, should you have any doubt just ask.

For me : http://pyramining.com/referral/amkc83y9d