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

[rdyoung]

pyramining, can you respond to my PM on 15 Jan 2015.

got it.
please update us once your new chips are online.

Hot damn, new hardware??? Sweet

that is what he told me.

Awesome!! Did he give an ETA? I know he is looking to move as well.

no firm ETA, you can also ask him.

Yes, I could, but if he gave you one, why would I ask him the same question you already did, seems a bit redundant.

[ninjaboon]

pyramining, can you respond to my PM on 15 Jan 2015.

got it.
please update us once your new chips are online.

Hot damn, new hardware??? Sweet

that is what he told me.

Awesome!! Did he give an ETA? I know he is looking to move as well.

no firm ETA, you can also ask him.

Yes, I could, but if he gave you one, why would I ask him the same question you already did, seems a bit redundant.

he did not give any ETA.

[rdyoung]

pyramining, can you respond to my PM on 15 Jan 2015.

got it.
please update us once your new chips are online.

Hot damn, new hardware??? Sweet

that is what he told me.

Awesome!! Did he give an ETA? I know he is looking to move as well.

no firm ETA, you can also ask him.

Yes, I could, but if he gave you one, why would I ask him the same question you already did, seems a bit redundant.

he did not give any ETA.

yes, I know, I was making a different point. You already covered that he didn't give an eta.
Would it have been better if I had said, "If he Maybe, Possibly, Perhaps, gave you one"

[chriswen]

Do reinvestments get better hardware rates?

[Squeaker]

They would get assigned the hashpower based on the fiat value at the time of the reinvestment, same as a first-time investment.

=squeak=

edit: your investments are listed individually on the account, with each investment assigned an independent hashpower. each with its own independent progress percentage.

[rdyoung]

Do reinvestments get better hardware rates?

As squeaker said and thanks to drops in cost of hardware over time, yes, reinvesting will get you better rates over time though and not simply because you reinvested.

[zazarb]

currently I receive about 15-20 satoshi /weekly for my 0.1 btc investment, or will ever get better?

[zazarb]

currently I receive about 15-20 satoshi /weekly for my 0.1 btc investment, or will ever get better?

Lucky you, I haven't had a payout in over a year now.  And that's on 100BTC.

no, I never  had a payout (since Joined:2013-07-23), I told only about reward on deposit

[chriswen]

What I'm asking is what type of ROI you would expect for an investment right now.  Over what time period.  I'm even okay if its slightly negative.

Did the math and ROI doesn't look that bad now for reinvestments.  But cheaper miners with BTC price increase would be nice.

[rdyoung]

What I'm asking is what type of ROI you would expect for an investment right now.  Over what time period.  I'm even okay if its slightly negative.

Did the math and ROI doesn't look that bad now for reinvestments.  But cheaper miners with BTC price increase would be nice.

It depends on how you do the math. The way pyramining is setup the time period is "indefinite", it pays a fixed % rather than for a fixed amount of time.
You seem like you understand an idea that I have been occasionally trying to get people to grasp, people need to get away from the positive ROI in ASAP with btc mining. The only way that BTC can succeed in usage and price is if people embrace a longterm outlook. Very few businesses have had the ROI potential that BTC had when the asic race kicked off and those days are behind us. If it costs most of what you mine to keep the hardware running, the market is doing its job. Its been a tough adjustment but I am perfectly ok with running hardware and only getting 20% of the income, in this scenario I prefer to run hardware locally so that I can average out the exchange rate of BTC to USD and decide if/when the best time is to exchange to pay the powerbill.

While I honestly thought we would be knee deep in another bull market by now, I do feel like we are close to another bubble, hopefully with this one being more prolonged and less steep of a climb as the last one. IF/when the next bubble happens we will all see a temporary boost in mining income and then the race to the bottom resumes at full speed.

[chriswen]

yes that part is slightly weird.

I realize there's been some changes with pyramining.  How do the changes work?  Before it used to be purely based on how much you deposited.  now its based on a hashing power for each deposit.

Sure ROI is capped at 10% but you might actually never reach that.

Okay so with the new way that pyramining is structured where does the hashrate go after deposits get finished?  It used to go in the pool but now each of my deposits has a hash rate beside it.

So is my will the hash rate dynamically adjust as deposits get completed?

Or will completed deposits hashrate get added to the hashing fueling the oldest deposits?

[rdyoung]

yes that part is slightly weird.

I realize there's been some changes with pyramining.  How do the changes work?  Before it used to be purely based on how much you deposited.  now its based on a hashing power for each deposit.

Sure ROI is capped at 10% but you might actually never reach that.

Okay so with the new way that pyramining is structured where does the hashrate go after deposits get finished?  It used to go in the pool but now each of my deposits has a hash rate beside it.

So is my will the hash rate dynamically adjust as deposits get completed?

Or will completed deposits hashrate get added to the hashing fueling the oldest deposits?

In theory we should eventually reach the 110% or whatever ROI based on your referrals even if it takes years.
Pyra would be the best one to answer where the hashrate goes, but my bet is for the time being it would be split among the outstanding legacy deposits so that they get cleared out.

Now pyramining works like all other cloud providers, you pay x for y ghs, the only difference being that pyra still only pays a fixed amount back on your investment instead of paying "forever".

[btharper]

Is anyone aware of the current state (other than still running) of pyramining? I saw the update from Jan 14 about adding new hardware in the near future and the (currently unrealized) possibility of reopening referrals up, but I was wondering if there's currently hardware available for new deposits, or what the current ballpark on that might be. The pace of ASIC developments has slowed to closer to normal semiconductor development instead of the breakneck pace when they first came out and the returns would likely be more stable now.

At time of writing the site shows ~480GH/BTC, with roughly 1 year for return on initial investment (simplistically, and falsely, assuming no change in difficulty over that time period; also not sent over network, just earned). With quick numbers based on current info, moore's law (doubles in 18 months), and wild guessing the expected full payback on 110% at around 18 months. Assuming, not unreasonably, that the network difficulty doubles in 12 months instead of 18 months would extend that again somewhat, at this point it may not be worth it depending on the upkeep costs with running things.

TL;DR - I think the annual return could be reasonable (>50%), and wanted to know the current guess as to how soon new deposits would go to work. Thanks

[chriswen]

Is anyone aware of the current state (other than still running) of pyramining? I saw the update from Jan 14 about adding new hardware in the near future and the (currently unrealized) possibility of reopening referrals up, but I was wondering if there's currently hardware available for new deposits, or what the current ballpark on that might be. The pace of ASIC developments has slowed to closer to normal semiconductor development instead of the breakneck pace when they first came out and the returns would likely be more stable now.

At time of writing the site shows ~480GH/BTC, with roughly 1 year for return on initial investment (simplistically, and falsely, assuming no change in difficulty over that time period; also not sent over network, just earned). With quick numbers based on current info, moore's law (doubles in 18 months), and wild guessing the expected full payback on 110% at around 18 months. Assuming, not unreasonably, that the network difficulty doubles in 12 months instead of 18 months would extend that again somewhat, at this point it may not be worth it depending on the upkeep costs with running things.

TL;DR - I think the annual return could be reasonable (>50%), and wanted to know the current guess as to how soon new deposits would go to work. Thanks

I had my deposits get accepted. 

[btharper]

Is anyone aware of the current state (other than still running) of pyramining? I saw the update from Jan 14 about adding new hardware in the near future and the (currently unrealized) possibility of reopening referrals up, but I was wondering if there's currently hardware available for new deposits, or what the current ballpark on that might be. The pace of ASIC developments has slowed to closer to normal semiconductor development instead of the breakneck pace when they first came out and the returns would likely be more stable now.

At time of writing the site shows ~480GH/BTC, with roughly 1 year for return on initial investment (simplistically, and falsely, assuming no change in difficulty over that time period; also not sent over network, just earned). With quick numbers based on current info, moore's law (doubles in 18 months), and wild guessing the expected full payback on 110% at around 18 months. Assuming, not unreasonably, that the network difficulty doubles in 12 months instead of 18 months would extend that again somewhat, at this point it may not be worth it depending on the upkeep costs with running things.

TL;DR - I think the annual return could be reasonable (>50%), and wanted to know the current guess as to how soon new deposits would go to work. Thanks

I had my deposits get accepted. 

I ended up heading into it figuring (hoping) it'd go through fairly quick. The site timestamps show about 40 hours between deposit (I'm guessing when it was confirmed, not sent) and activation of hardware. Assuming the process is at least partially manual I'd call it a reasonable turnaround time to activation, especially since pyramining certainly shouldn't be expected to sit at a computer waiting for deposits.

After less than a day I'm already back to getting regular payouts instead of the slow trickle of single-digit payments from the old (FPGA) deposits. The amount is slightly lower than the calculated payment based on that hash rate, but within normal pool variance, especially only given under a day.

[biddicoin]

Any news?

[btharper]

Any news?

I'm not aware of anything new, deposits get activated if you make them. Payouts seem to be weekly now. Not much that I can tell other than that.

[bigbeninlondon]

Any news?

I'm not aware of anything new, deposits get activated if you make them. Payouts seem to be weekly now. Not much that I can tell other than that.

So payouts are weekly for whom?  I have an account whose last payment was Jun 2014.  I'm still getting rewards on my account, just no payouts.

[chriswen]

Any news?

I'm not aware of anything new, deposits get activated if you make them. Payouts seem to be weekly now. Not much that I can tell other than that.

So payouts are weekly for whom?  I have an account whose last payment was Jun 2014.  I'm still getting rewards on my account, just no payouts.

well there's a minimum amount.

[crazyearner]

SO any detials on how to get my deposit address as deposted some time back and did get pmed detials of it however seem to of lost the pm i had with detials in it.