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

[pyramining]

No, I remember to have seen somewhere that he stated it would become ~January until he will be able to add the first Asics.

Correct.

I can imagine that the first chips will be ordered in December. And therefore fund are collected for this first order.

My problem is not "collecting funds" but figuring out the quantities needed.

Also, he is stepping in new terrain here, even if he gets the chips on time. There is:

• PCB Layout
• PCB Assembly
• Mining Software configuration
• Setup of the new farm / integration into the old one
• Much more I haven't thought of

As I think this is mostly a one man operation and this whole project requires a lot of work, I expect delays to happen here.
So be patient.

Fortunately I am not alone, there are other people helping me setting up the whole thing, however the quantity of work needed to set up the whole thing is HUGE. Of course I will try to avoid delays as much as possible, we're all already very busy working on this project.

For example, we built a new room in our facility dedicated only to bitcoin mining, instead of placing things in the servers datacenter. This room is optimized for miner requirements, therefore it will cut off unnecessary costs.

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[pyramining]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

[matthewh3]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

Have you thought about adding alt-coins to your payments?  It would probably attract additional investment if people new they were going to receive more than just bitcoins if they wish.  Maybe you could also offer a way to invest into Pyramining with alt-coins such as namecoins and devcoins?

[Raoul Duke]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

Have you thought about adding alt-coins to your payments?  It would probably attract additional investment if people new they were going to receive more than just bitcoins if they wish.  Maybe you could also offer a way to invest into Pyramining with alt-coins such as namecoins and devcoins?

Are you an investor on Pyramining? Do you suspect everyone to be like you?
I still remember you opening a thread offering a bounty for a logo and never paying up...
Pyraming has kept his promisses until know. No one else is asking for more besides you.
You have 2 choices: You invest or you don't.

[matthewh3]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

Have you thought about adding alt-coins to your payments?  It would probably attract additional investment if people new they were going to receive more than just bitcoins if they wish.  Maybe you could also offer a way to invest into Pyramining with alt-coins such as namecoins and devcoins?

Are you an investor on Pyramining? Do you suspect everyone to be like you?
I still remember you opening a thread offering a bounty for a logo and never paying up...
Pyraming has kept his promisses until know. No one else is asking for more besides you.
You have 2 choices: You invest or you don't.

What do you gain from post like that?  Now really your just a trolling and I must have way too much time on my hands to even bothering replying.  Trying to tarnish my reputation by trying to boost your own.  Sad don't you have any hobbies or anything else to let your steam out.  That post was a waste of time but only to rattle my cage a bit and the fact I bothered replying probably gives you some form of satisfaction

[ninjaboon]

Your site is offline again :
502 Bad Gateway
nginx/1.2.0

[pyramining]

Your site is offline again

Fixed. I Apologize for the delay, I am currently in London. Fortunately I can still do some maintenance from here.

[ninjaboon]

Your site is offline again

Fixed. I Apologize for the delay, I am currently in London. Fortunately I can still do some maintenance from here.

yes I can see it now...have fun in London!

[matthewh3]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

Have you thought about adding alt-coins to your payments?  It would probably attract additional investment if people new they were going to receive more than just bitcoins if they wish.  Maybe you could also offer a way to invest into Pyramining with alt-coins such as namecoins and devcoins?

Are you an investor on Pyramining? Do you suspect everyone to be like you?
I still remember you opening a thread offering a bounty for a logo and never paying up...
Pyraming has kept his promisses until know. No one else is asking for more besides you.
You have 2 choices: You invest or you don't.

What do you gain from post like that?  Now really your just a trolling and I must have way too much time on my hands to even bothering replying.  Trying to tarnish my reputation by trying to boost your own.  Sad don't you have any hobbies or anything else to let your steam out.  That post was a waste of time but only to rattle my cage a bit and the fact I bothered replying probably gives you some form of satisfaction

Why would a company like pyramining go with alts if they can keep up in the bitcoin mining and are designing there own ASIC, really makes no sense at all.

Because the alt-coins are merged-mined.

[Nikolaj06]

Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?

Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone.

Ahh, thank you very much for the response! Makes sense I'm very close to investing, I just need my Bitcoin now.. It's been 6 business days since I transfered to Mt.Gox, so it should hopefully be there before the promo ends!

When talking about the promo, would my sponsors benefit from this Promo as well? (like recieving the bonus faster)

EDIT:
Another thought crossed my mind.. If BTC inreases in value, the ROI, talking purely BTC, is bound to increase right? As this would cause increased competition in the mining game. The same way, if BTC falls in value to ROI would decrease..

Or am I completely wrong? (still quite new here :b)

[pyramining]

Bitcoin block reward halving and difficulty increasing are slowing a lot the reward process. However I invite everybody to be patient: when ASICs will finally be ready, most probably all deposits will become "complete" far before the date expected at the moment of the deposit.

[biddicoin]

oh... got some questions again:

1. If there is one account with ASIC deposits (so not really active atm) - and someone uses the ref link from this person and has a active account with payment to upper sponsors:  Does the person with the ASIC deposit (the sponsor) receive Bitcoins from the referred person? I as sponsor should receive the bonus from a person - but they don't show up.

What could that be? Do they not show up- until a special amount is reached? Does it go to the upper sponsor who has already working deposits?

and if so:

2. Do the Sponsors (with pending asic deposit) receive the Bonus, as soon as their account is active?

If they don't, then I'm sad because I didn't know and made the wrong tactic.

3. A sponsor receives the bonus during his account is active - is this still the case if an old deposit is paid back but DURING the payback period making new deposits keeps the bonus alive?

Thank you

[pyramining]

1. If there is one account with ASIC deposits (so not really active atm) - and someone uses the ref link from this person and has a active account with payment to upper sponsors:  Does the person with the ASIC deposit (the sponsor) receive Bitcoins from the referred person? I as sponsor should receive the bonus from a person - but they don't show up.

ASIC deposits are not considered active. If the referral has one or more active deposits and his sponsor has an ASIC deposit (still inactive), 30% of the referral hashing power is distributed to upper active accounts. Bonuses are not passed up, and will be collected at the time the ASIC deposit becomes active.

2. Do the Sponsors (with pending asic deposit) receive the Bonus, as soon as their account is active?

Of course, yes!

If they don't, then I'm sad because I didn't know and made the wrong tactic.

You have no reasons to be sad! :-)

3. A sponsor receives the bonus during his account is active - is this still the case if an old deposit is paid back but DURING the payback period making new deposits keeps the bonus alive?

In the unfortunate case that an old deposit of a referral is completely rewarded before the ASIC deposit becomes active, you miss that bonus. Bonuses are generated by active deposits and collected by active deposits only.

[Akka]

And down again.

Crashed again? Seems like the current amount of addresses is really to much for bitcoind.

Maybe you should ask an exchange if they have the same problems.


Sorry for posting immediately, but this always makes me nervous, because you have a significant amount of my coins.

[pyramining]

This time there is an hardware problem on the server. I am already working on it. Since it had to be taken down I am also upgrading the hardware behind it, it should help overall situation, also.

[Akka]

Thanks for the quick reply. I hope there is no serious damage to your hardware.

Also thanks for you continuous work on this service.

[pyramining]

The web interface is now online again. The previous server suffered a complete crash of the hard drive. Nothing has been lost since everything has been restored from backups.

I took this opportunity to replace the server that hosts the website. The new one has a powerful CPU, more RAM and a RAID-1 SSD storage. I hope this setup will mitigate bitcoind troubles and increase the overall reliability.

Should you notice something wrong, leave me a PM.

I apologize for the interruption of the service and thank you all for your patience.

[btharper]

Any updates on the ASIC front? Or current expectations?

[pyramining]

Any updates on the ASIC front? Or current expectations?

Everything is on schedule, deployment is planned around mid January. The only "problem" that relatively troubles me is that during the christmas period (last week of december and first of january) most companies don't work here in my country. I hope these holidays won't delay any operation.

[Akka]

Hi pyramining,

As the bounty for pre ASIC deposits was going until 30.11 what happens now if I deposit ASIC allocated fund in an Account that has already ASIC fund deposited in it during the bounty in it?

Am I save to do so or will this possibly mess up the bounty calculation?