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

[matthewh3]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

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[Raoul Duke]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.

[matthewh3]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.

Well why isn't he paying out merged-mining rewards?

[btharper]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.

Well why isn't he paying out merged-mining rewards?

Previously 50% or more (at times even 100%) were being put onto p2pool, however I believe there were issues with the high rate of stales among other things. At this point I'm not sure any power is still directed at p2pool as it's disadvantageous and even with merged mining it would be a loss of profit. This does however mean a slight loss for the network as well. I imagine without the issues with p2pool things would go over better, as I do believe pyramining supports the idea behind p2pool wholeheartedly.

[BobbyJo]

There was discussion a couple of weeks ago about solo mining.  I am not sure if he has implemented this yet.

[matthewh3]

So all Pyramining investments made now will only pay off FPGA use unless you invest and wait for the ASIC investment option.  Or will all Pyramining investments eventually be paying out off ASIC's even in you normally invest now?

[pyramining]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

Actually P2Pool performances with FPGA units is quite poor due to high stale rate. I have a small % of miners pointed there, but the most part is elsewhere. Moreover, altchains have a really low value, so low that I don't think that merged-mining makes such a difference, it doesn't pay even the cost of setting up and testing the software. However I accept advices, if my opinion on merged mining is wrong.

[pyramining]

There was discussion a couple of weeks ago about solo mining.  I am not sure if he has implemented this yet.

I'm still working on this, but actually the priority is on ASIC development.

[pyramining]

So all Pyramining investments made now will only pay off FPGA use unless you invest and wait for the ASIC investment option.  Or will all Pyramining investments eventually be paying out off ASIC's even in you normally invest now?

It has been already explained, if you invest normally, you add _now_ fpga power and you start earning mined bitcoin. If you wait for ASICs to be ready, or invest an amount with the format x.xxxx1111, you will add ASIC power.

Of course when ASICs will be put into production, all new investments will be made with ASICs.

All accounts will benefit from ASIC infrastructure when it will be operative.

Old deposits won't slow down ASIC revenues by much, since I expect that when ASIC will be installed FPGA hashing power will represent less than 10% of the ASIC hashing power and our infrastructure costs less than 90% of competitors one, making Pyramining the best choice anyway. In the case that after some days (let's say 10) from the ASIC installation deposits won't reach at least 10 times the FPGA hashing power, I will personally invest the difference making deposits to random sponsors in Pyramining, to speed up things.

[Akka]

In the case that after some days (let's say 10) from the ASIC installation deposits won't reach at least 10 times the FPGA hashing power, I will personally invest the difference making deposits to random sponsors in Pyramining, to speed up things.

Wow, that's a word. You could combine this with a way to make depositing in ASIC infrastructure more interesting. Make it like kind of a lottery, each 0.25 BTC you deposited into pre ASIC buys you a ticket and a chance to be your sponsor. That should speed ASIC deposits up.

[symbot]

In the case that after some days (let's say 10) from the ASIC installation deposits won't reach at least 10 times the FPGA hashing power, I will personally invest the difference making deposits to random sponsors in Pyramining, to speed up things.

Wow. 

Not much else to say.  It is great to see that you are willing to invest your own money to help out the group.  Thanks again for your outstanding commitment to, and execution of this project. 

[Monkey1]

Agreed.  And he is as good as his word.

I recently discovered a minor bug- The balance would not update properly if you redeposited.  the system still worked but the display didnt show it.  When I pointed this out, he thanked me and made a deposit under my account!

I am definately sold on Pyramining!!

[matthewh3]

Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

Actually P2Pool performances with FPGA units is quite poor due to high stale rate. I have a small % of miners pointed there, but the most part is elsewhere. Moreover, altchains have a really low value, so low that I don't think that merged-mining makes such a difference, it doesn't pay even the cost of setting up and testing the software. However I accept advices, if my opinion on merged mining is wrong.

I think a lot of people will enjoy the extra benefit of owning the extra merged-mined coins more than just there financial value.  If you told people they could receive payments in four other alt-coins as well as their BTC payments I'm sure people would like it and invest more.  Also if maybe you offered people the option to re-invest in Pyramining with these alt-coins even tho there value is very low, then that also might make Pyraming seem more interesting?

[pyramining]

I thought about the plan to support ASIC deposits and Pyramining in general. Instead of just giving a bigger starting bonus to ASIC deposits or create my accounts under random existing accounts, I am planning to do the following:

For accounts that have a sum of ASIC deposits of at least 10 BTC, deposited before 30th November 2012, I will create an account using them as sponsor and deposit 50% of the ASIC deposits amount in it, up to a total of at least 2000 BTC (coming from my personal funds). If the total amount to deposit will be bigger than 2000 BTC, deposits will be scaled down proportionally.

The budget of 2000 BTC is guaranteed, but it may increase.

This opportunity is valid also for existing deposits.

I set a threshold to 10 BTC because it would take a lot of time to create accounts and deposit 0.005 BTC for hundred deposits of 0.01 BTC. :-) I hope you also agree that it's reasonable.

If you already deposited under 10 BTC and you want to take this opportunity, you can make another deposit on the same account in  order to reach a total of at least 10 BTC.

Advantages:
- Overall hashing power is increased, old FPGA accounts will not be a "burden", to the advantage of everyone.
- ASIC early adopters will get 5% bonus increase for my referral / deposit.
- ASIC early adopters will have a faster ROI (speedup due to 15% of my mined BTC going to the sponsor).
- I will get this investment back together with you.

[Akka]

^^ Cool, now nothing is holding me back to make ASIC deposits.

[Krak]

Damn, now I just need 10 BTC.

[Remedin]

hi, i deposited 8.00001111 btc and it is not recognized as ASIC deposition.
How can i change this?
thanks

[pyramining]

hi, i deposited 8.00001111 btc and it is not recognized as ASIC deposition.
How can i change this?

Write me a PM with the account label, and I will see why the deposit isn't recognized as ASIC.

[ninjaboon]

I thought about the plan to support ASIC deposits and Pyramining in general. Instead of just giving a bigger starting bonus to ASIC deposits or create my accounts under random existing accounts, I am planning to do the following:

For accounts that have a sum of ASIC deposits of at least 10 BTC, deposited before 30th November 2012, I will create an account using them as sponsor and deposit 50% of the ASIC deposits amount in it, up to a total of at least 2000 BTC (coming from my personal funds). If the total amount to deposit will be bigger than 2000 BTC, deposits will be scaled down proportionally.

The budget of 2000 BTC is guaranteed, but it may increase.

This opportunity is valid also for existing deposits.

I set a threshold to 10 BTC because it would take a lot of time to create accounts and deposit 0.005 BTC for hundred deposits of 0.01 BTC. :-) I hope you also agree that it's reasonable.

If you already deposited under 10 BTC and you want to take this opportunity, you can make another deposit on the same account in  order to reach a total of at least 10 BTC.

Advantages:
- Overall hashing power is increased, old FPGA accounts will not be a "burden", to the advantage of everyone.
- ASIC early adopters will get 5% bonus increase for my referral / deposit.
- ASIC early adopters will have a faster ROI (speedup due to 15% of my mined BTC going to the sponsor).
- I will get this investment back together with you.

Great idea. I'm going to open my 4th account at your site and add at least 10 BTC to the ASIC pre-order. That's my support for you.

[ninjaboon]

I have seen the pictures and the set up is pretty good!

I've seen it too and it looks awesome. Wonder how much heat does it generate.