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

[pyramining]

We have been able to obtain final details about ASIC units. At the current conditions ($11.94/BTC) our hardware will be able to produce 769MH/s per BTC, or 1.3BTC per GH/s.

With current forecasts, we should be able to put new units into production between December and January. Boards will be produced in weekly batches, and I'm allocating around 1TH each week for Pyramining usage. This amount might change depending on demand. Current premises allow a growth up to 30TH/s, but there are already plans to expand.

Is it now possible to destinate funds to ASIC infrastructure. As explained on the website, if the deposited amount has 8 decimals and ends with 1111 (example 45.00001111 or 12.43261111), it will be put in a deposit queue that will be processed in chronological order (first arrived, first served) and assigned to ASIC units only, as soon as they will be available.

[Monkey1]

Thats excellent news.  Hopefully, you will be able to stick to the advertised timeframe!

[Badonkadonk]

so current deposits dont get upgraded to the new speed??

[BobbyJo]

Previously he has stated that all current deposits will benefit from the addition of ASIC to the pyramining network!

[Badonkadonk]

Previously he has stated that all current deposits will benefit from the addition of ASIC to the pyramining network!

am i missing something then? if older deposits will benefit from it, why deposit with 1111?
just for the first come first serve?

[pyramining]

Thats excellent news.  Hopefully, you will be able to stick to the advertised timeframe!

Yes, at this point is really unlikely that it will be delayed.

[pyramining]

so current deposits dont get upgraded to the new speed??

Current deposits don't "get upgraded", however new hashing power will benefit everyone, as I already explained in "this" and other posts.

Since ASIC miners aren't infinite, there's a chance that not all ASIC deposits will be activated, and may get delayed if they exceed the production availability.

[pyramining]

am i missing something then? if older deposits will benefit from it, why deposit with 1111?
just for the first come first serve?

There are two reasons:
1) You might want to invest into ASIC technology and not current (FPGA).
2) If demand will be higher than production, deposits will be delayed, this helps me managing the queue.

Everyone can simply wait for their deposits until ASIC units are in production. I just implemented this feature because I received many requests from members and because our ASIC units are almost ready (it will take probably less than 3 months).

[Akka]

Will splitting deposits work?

For example, I want to invest 1 BTC and make two deposits in the same account, one 0.5 BTC and one 0.50001111, then my account will increase by 1 BTC but 0.5 will not be used to buy FPGAs but explicit for ASICs?

[pyramining]

Will splitting deposits work?
For example, I want to invest 1 BTC and make two deposits in the same account, one 0.5 BTC and one 0.50001111, then my account will increase by 1 BTC but 0.5 will not be used to buy FPGAs but explicit for ASICs?

Yes it works. You can also deposit with x.xxxx1111 on existing accounts, and they will be used for ASIC only.

[ingrownpocket]

What about making two different deposit addresses?

[pyramining]

What about making two different deposit addresses?

I thought about it, but there are already more than 2K addresses in the wallet.dat, and it would mean doubling them all (heavily slowing bitcoind). It seems that the x.xxxx1111 method fits better.

[ingrownpocket]

What about making two different deposit addresses?

I thought about it, but there are already more than 2K addresses in the wallet.dat, and it would mean doubling them all (heavily slowing bitcoind). It seems that the x.xxxx1111 method fits better.

Take a look at this:
https://blockchain.info/api/api_receive

Seems to fit your needs.

[Akka]

Hi pyramining.

I deposited a small ASIC amount to try it out. Now the deposit is "sitting" in my account waiting to be used for ASIC, and therefore doesn't give any returns. So its basically a prepurchase.

But, as I understand it, the hashing power, once available, will be spilt through all accounts based on their deposits.

So poeple making normal deposits, will get FPGA returns now and ASIC returns later, while ASIC deposits will only get the later returns.

So what should my be intention to provide funds for the ASICs?

A simple way to address this issue would be IMO, to raise the bonus for people make ASIC pre-deposits (maybe by 5%).

Once ASICs are available this bonus will return to the standard 10%. This way people depositing for ASIC infrastructure would benefit from their early investment.

[platti]

hi pyramining

what is with automatically investments from rewards in an other account. this are allways 1 btc. so it is automatically investet in older hardware?

[pyramining]

I deposited a small ASIC amount to try it out. Now the deposit is "sitting" in my account waiting to be used for ASIC, and therefore doesn't give any returns. So its basically a prepurchase.

But, as I understand it, the hashing power, once available, will be spilt through all accounts based on their deposits.

So poeple making normal deposits, will get FPGA returns now and ASIC returns later, while ASIC deposits will only get the later returns.

So what should my be intention to provide funds for the ASICs?

The difference is this: if you deposit with current infrastructure, you add around 12 MH for each BTC, while with ASICs you get 763 MH for each BTC. All the added mining power will benefit every user, increasing the efficiency of all accounts. It's up to the investor deciding if it is better to deposit with current infrastructure and waiting for other deposits to increase the available hashing power, or to wait for ASIC units to be effective.

For other Pyramining members is not much different if you hold your deposits and send them when ASICs are in production or if you deposit now with the new feature.

For Pyramining, having that kind of "pre-purchase" is helpful, because it contributes to an accurate planning and ordering of the correct quantities to the production chain, and reduce as much as possible the waiting times (and for who made the deposit there is a good chance to get on the "first train").

A simple way to address this issue would be IMO, to raise the bonus for people make ASIC pre-deposits (maybe by 5%).

Once ASICs are available this bonus will return to the standard 10%. This way people depositing for ASIC infrastructure would benefit from their early investment.

Yes, it's something I already thought about. I have to do some more calculations before adding such rules, and since deposits are in a "separate" balance, I can eventually announce this special bonus even later. However don't count on this, yet.

[pyramining]

what is with automatically investments from rewards in an other account. this are allways 1 btc. so it is automatically investet in older hardware?

If you chained some accounts, and one deposits its reward into the other, the result is that you invest in the "current" technology. It means FPGA for now, and ASIC from the day they will be in production (obviously, the day ASIC will be ready, all the deposits will purchase ASIC hardware only).

However, currently, you have 1 chance on 10000 that the automatic deposit will go into ASIC. :-)

[btharper]

Awesome news again! And interesting investment mechanism on top of that. I assume that like FPGA setup, you aren't planning on selling this to the public?

For anyone else wondering at the same exchange rate ($11.94/BTC) BFL's minirig costs ~1.6888 GH/BTC (Though they've said the performance specs may be increased some again depending on how fast they can clock it and stay inside thermal constraints), but assuming they don't get another 30% from here, and pyramining's specs remain constant (they may also improve) 1.3 is a lot better.

[pyramining]

Awesome news again! And interesting investment mechanism on top of that. I assume that like FPGA setup, you aren't planning on selling this to the public?

Selling to the public is not our priority: our software has not an user-friendly interface, we concentrate all our efforts on performances, and we don't have an helpdesk. Improoving software, adding helpdesk and so on, would only increase costs therefore reducing the margin that is making Pyramining extremely competitive.

and pyramining's specs remain constant (they may also improve) 1.3 is a lot better.

The announced performances are the minimum guaranteed, but there is still a LOT of margin for improovement.

[🏰 TradeFortress 🏰]

I seem to have forgot my deposit address.. Guess I'll have to create a new one then :/

Here's two links:
http://www.pyramining.com/referral/a4g3kdnhb    2012-10-16 07:06:46 UTC    still active
http://www.pyramining.com/referral/zfhd3gstq    2012-10-16 07:06:46 UTC    still active