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

[BobbyJo]

What is the plan when ASIC hits (possibly in 6-8 weeks).  I want to invest but I am concerned that the payback time will dramaitcally increase from 10 months to several years!

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[Raoul Duke]

Hi, yes, had deposited about 0.03 BTC

The login address is the deposit address, not the address you created for withdrawals.

[BecomingPhill]

Hi, yes, had deposited about 0.03 BTC

The login address is the deposit address, not the address you created for withdrawals.

Stupid me, thanks.

[pyramining]

What is the plan when ASIC hits (possibly in 6-8 weeks).  I want to invest but I am concerned that the payback time will dramaitcally increase from 10 months to several years!

When ASICs will be available, all the new deposits will be invested into ASIC hardware at the advantage of everyone (present and past members). I can't make a plan without even know if ASICs will really hit the market in 8 weeks, also because nobody has ever seen one yet.

Besides we're finding an agreement with a partner to produce our own ASICs, after evaluating every detail. This approach could take up to one year.

In the meanwhile we will keep investing into existing hardware, always keeping an eye open to price and performances. Today it's FPGA based, tomorrow might be something else, depending on what market and technology offer.

[BobbyJo]

Thats a good enough response for me.  Welcome aboard to me!!

http://www.pyramining.com/referral/6fkandthr    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/mb4xphqtc    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/tbah8prqc    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/cra4gdn6f    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/82sy4kd9m    2012-08-24 21:26:30 UTC    still active

[Maidak]

http://pyramining.com/referral/nqc6394sr   2012-08-17 09:22:31 UTC   still active
http://pyramining.com/referral/sn2k7b6pr   2012-08-17 08:32:53 UTC   still active
http://pyramining.com/referral/g294baqcd   2012-08-13 02:30:09 UTC   still active
http://pyramining.com/referral/sga36ryzm   2012-08-13 02:30:09 UTC   still active
http://pyramining.com/referral/4qxaz6kfd   2012-08-13 02:30:09 UTC   still active

some linkies to use

[CecilNiosaki]

Some more links

http://pyramining.com/referral/rgxy2aqm4    
http://pyramining.com/referral/st7ze9bk6
http://pyramining.com/referral/fgrcnazsp
http://pyramining.com/referral/ck7gtndbe
http://pyramining.com/referral/m3st6hkag

[RoloTonyBrownTown]

Updated links:


http://pyramining.com/referral/dbegpkrfc   2012-08-25 06:29:23 UTC   still active
http://pyramining.com/referral/gxq2r84m7   2012-08-25 06:29:23 UTC   still active
http://pyramining.com/referral/fgh3xc2tn   2012-08-19 02:11:19 UTC   2012-08-24 21:18:55 UTC
http://pyramining.com/referral/nbmsy4zxa   2012-08-19 02:11:19 UTC   2012-08-24 21:25:09 UTC
http://pyramining.com/referral/cnsf6z7qp   2012-08-18 05:19:03 UTC   2012-08-18 08:37:28 UTC
http://pyramining.com/referral/fne9p8tym   2012-08-18 05:19:03 UTC   still active
http://pyramining.com/referral/gq729e6sa   2012-08-18 05:19:03 UTC   still active
http://pyramining.com/referral/k2h6ntqry   2012-08-18 05:19:03 UTC   still active
http://pyramining.com/referral/6ckrpmzbn   2012-08-18 05:19:03 UTC   2012-08-18 09:52:51 UTC

[BobbyJo]

http://www.pyramining.com/referral/dapz37fnk    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/x36akt9ec    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/k7f38esrd    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/6fkandthr    2012-08-24 21:26:30 UTC    2012-08-24 21:54:48 UTC
http://www.pyramining.com/referral/mb4xphqtc    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/tbah8prqc    2012-08-24 21:26:30 UTC    2012-08-25 00:11:07 UTC
http://www.pyramining.com/referral/cra4gdn6f    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/82sy4kd9m    2012-08-24 21:26:30 UTC    2012-08-25 01:05:09 UTC

[BobbyJo]

How do the referals work?  I assume that total referals are those who have created accounts and active referals are those who have deposited?

How many referals do you need before your bonus increases?  Is this based on number or volume of deposits?

Sorry for all the questions but I have caught the bug now and want to understand how to maximise it!

[Maidak]

http://pyramining.com/referral/nqc6394sr   2012-08-17 09:22:31 UTC   still active
http://pyramining.com/referral/sn2k7b6pr   2012-08-17 08:32:53 UTC   still active
http://pyramining.com/referral/g294baqcd   2012-08-13 02:30:09 UTC   still active
http://pyramining.com/referral/sga36ryzm   2012-08-13 02:30:09 UTC   still active
http://pyramining.com/referral/4qxaz6kfd   2012-08-13 02:30:09 UTC   still active

sign up PM me if you use one of my referals and get 1m free D3 gold.

[symbot]

I just joined pyramining using one of the links I found here...  Help a newbie out and pick one of mine!

[RoloTonyBrownTown]

So I finally went through and read the whole thread.  I notice a little while ago everyone got all excited that 120Gh were added and that we were at 17mh/btc, but now the total seems to be 82gh and 8.9mh/Btc.

What happened?

[pyramining]

How do the referals work?  I assume that total referals are those who have created accounts and active referals are those who have deposited?

It is correct. Total referrals are account created using your as a sponsor, while active referrals are accounts where someone deposited any amount and that has not completely rewarded yet.

How many referals do you need before your bonus increases?  Is this based on number or volume of deposits?

Bonus increases immediately on every deposit made by any referral, in proportion to your amount and the amount deposited by them. Read back in the thread, it's already explained in details.
[/quote]

Sorry for all the questions but I have caught the bug now and want to understand how to maximise it!

Bug or Bus? :-)

[pyramining]

So I finally went through and read the whole thread.  I notice a little while ago everyone got all excited that 120Gh were added and that we were at 17mh/btc, but now the total seems to be 82gh and 8.9mh/Btc.
What happened?

120Gh of infrastructure were added, but it's allocated to Pyramining at every deposit made. I anticipated the funds to buy it, and I'm using the exceeding power to mine for my own. Anyway this infrastructure is ready to mine for Pyramining when deposits are made.

As already explained, the 8.9 MH/BTC is the average cost of the existing infrastructure. It's increased with time because it is an average of all the allocated hardware. New infrastructure is currently added at 11.21 MH/BTC.

The cost of the new infrastructure is proportional to the value of Bitcoin at that time. New infrastructure were at 17MH/BTC when Bitcoin value was close to 13 EUR, now that the value decreased, also the new infrastructure cost has changed.

[BobbyJo]

http://www.pyramining.com/referral/dapz37fnk    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/x36akt9ec    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/k7f38esrd    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/mb4xphqtc    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/cra4gdn6f    2012-08-24 21:26:30 UTC    still active

[gnpeer]

Don't let your BTC be idle. Let them mine!

Deposit BTC under these link and earn 10%+ interest!
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


or check on facebook fanpage in my sig.

Long term & safe profit.

[BobbyJo]

http://www.pyramining.com/referral/dapz37fnk    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/x36akt9ec    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/k7f38esrd    2012-08-25 07:23:02 UTC    still active
http://www.pyramining.com/referral/mb4xphqtc    2012-08-24 21:26:30 UTC    still active
http://www.pyramining.com/referral/cra4gdn6f    2012-08-24 21:26:30 UTC    still active

[ninjaboon]

So I finally went through and read the whole thread.  I notice a little while ago everyone got all excited that 120Gh were added and that we were at 17mh/btc, but now the total seems to be 82gh and 8.9mh/Btc.
What happened?

120Gh of infrastructure were added, but it's allocated to Pyramining at every deposit made. I anticipated the funds to buy it, and I'm using the exceeding power to mine for my own. Anyway this infrastructure is ready to mine for Pyramining when deposits are made.

As already explained, the 8.9 MH/BTC is the average cost of the existing infrastructure. It's increased with time because it is an average of all the allocated hardware. New infrastructure is currently added at 11.21 MH/BTC.

The cost of the new infrastructure is proportional to the value of Bitcoin at that time. New infrastructure were at 17MH/BTC when Bitcoin value was close to 13 EUR, now that the value decreased, also the new infrastructure cost has changed.

Your site still shows the old number > Total hashing power:   82.8GH/s.
But since I like your idea, I've added some btc to my profile.

[Sherkel]

Just throwing this out there. If I missed anything, please point it out instead of flaming. I was a bit confused by the FAQ, so there's quite a possibility I overlooked something.

Assuming one maximizes his or her rewards by signing up with a referral, depositing a minimal balance, signing up for another account via referral to the user's first one and depositing another minimal amount, doing this again for a third account, and finally signing up for a primary account with the referral from the second and depositing the funds to invest, he or she will end with roughly a 40% bonus (if one bitcent is in each of the first two accounts, the total bonus is 40% minus 0.003 from the first account and 0.0015 each from the second and third; so, only 0.006 BTC are "lost" in this case.) No two deposit addresses for these accounts are the same; in fact, this would give a net loss compared to waiting for the complete reward on all three, as more would be sent up to accounts that are not property of the user.

The 40% bonus is calculated as follows:
1. 10% comes from signing up with a referral (to the third account.)
2. 30% of the total income (without the 10% bonus, so as to keep it at 10%) is sent upwards to the first two accounts and the mostly irrelevant referral account.
3. If that 30% is "lost" (sent to other users,) only the 10% bonus is gained.
4. Account 3 gets 15% of the deposited BTC. Accounts 2 and 1 get the other 15%.
5. The first three accounts gain small amounts which give minimal BTC to the original referral. This negligibly decreases the 30% bonus assuming a reasonable amount is deposited to the main account.

Let's assume one deposits 10 BTC to the main account. A total of 1 BTC is gained on that alone. On the remaining three, one will gain 1.5 BTC, and the other two will gain 0.75 BTC. 4 BTC is netted.

The reward time is now roughly 1 year. This means 40% is gained per year, based on my calculations. This equates to about 0.649% per week, compounded. Compared to other investments it doesn't look like much. The main reason for using PyraMining would be for the reliability of the use of mining.