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

[Monkey1]

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.

But even assuming they do add a delay, it will be the end of jan when ASIC will hit?

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[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?

It is safe and you do not incour in any trouble and/or mess. :-)

[pyramining]

But even assuming they do add a delay, it will be the end of jan when ASIC will hit?

I am not able to guarantee it, but our ASICs are planned to be ready before the end of January. I still don't have an estimate on how much time will be needed for deployment, but I don't expect it to be much different than what it took to put FPGAs online. So the end of January is a reasonable date.

For everyone: in the case we arrive at 31st of January and ASICs will not be already running because we're still working on them, please do not flame (like when we were waiting for the July FPGA deployment which took about a week more than planned)... I am really doing everything I can to speed up and optimize things as much as possible. The sooner they will be in production, the better is for both me and you all. This should be a warranty on the commitment I am dedicating to this activity.

[Akka]

But even assuming they do add a delay, it will be the end of jan when ASIC will hit?

I am not able to guarantee it, but our ASICs are planned to be ready before the end of January. I still don't have an estimate on how much time will be needed for deployment, but I don't expect it to be much different than what it took to put FPGAs online. So the end of January is a reasonable date.

For everyone: in the case we arrive at 31st of January and ASICs will not be already running because we're still working on them, please do not flame (like when we were waiting for the July FPGA deployment which took about a week more than planned)... I am really doing everything I can to speed up and optimize things as much as possible. The sooner they will be in production, the better is for both me and you all. This should be a warranty on the commitment I am dedicating to this activity.

To add to this point. Please consider that there is no single supplier that hasn't add delays yet. Considering that BFL has already delayed their deployment 3 month (and is expected to delay further) a view weeks delay will still be awesome.

Like I wrote before. I have a rough picture about how much work that is and I was expecting delays from the beginning. So no flaming from me.

[chriswen]

So, if I deposit regular money will my shares get turned into ASIC shares at some point?

[pyramining]

So, if I deposit regular money will my shares get turned into ASIC shares at some point?

No, but ASIC miners will get mixed to FPGA miners, and everyone will take advantage of it.

IMHO, if you want to invest a small amount ( < 5 BTC ) there is not much difference between normal and ASIC deposits. If you are planning to invest much, probably it's worth it to wait until ASICs are ready or if you prefer, invest with ASIC deposits.

[pyramining]

Due to the amount of messages/requests received in these days, I decided to renew the promotion until the end of 2012.

So: on every account containing at least a total of 10 BTC in ASIC deposits, up to 4000 BTC deposited from now until 31st December, I will deposit 50% of the total amount with my personal funds using that account as a sponsor. I have at least 2000 BTC available for this campaign (not counting those already allocated for those who took advantage of this promotion until now).

If the total ASIC deposits will exceed 4000 BTC, promotions will be applied to the first deposits (chronological order). By the time of 31st December maybe I could be able to allow also the exceeding deposits into this promotion (if there will be any), but it's not guaranteed.

[pyra-proxy]

Due to the amount of messages/requests received in these days, I decided to renew the promotion until the end of 2012.

So: on every account containing at least a total of 10 BTC in ASIC deposits, up to 4000 BTC deposited from now until 31st December, I will deposit 50% of the total amount with my personal funds using that account as a sponsor. I have at least 2000 BTC available for this campaign (not counting those already allocated for those who took advantage of this promotion until now).

If the total ASIC deposits will exceed 4000 BTC, promotions will be applied to the first deposits (chronological order). By the time of 31st December maybe I could be able to allow also the exceeding deposits into this promotion (if there will be any), but it's not guaranteed.

Out of curiosity, How many/much BTC deposits have been applied to ASIC deposits to date?

[platti]

You can see this on pyramining homepage
ASIC pre-allocated power:   839.5GH/s
ASIC GH/s cost:   1.35 BTC

[almwaysa]

The only issue i have with this plan on the ASIC is that early adopters will not benefit from it at all, in fact it would hurt them rather than benefit them.
Another plan is to scale the whole project together in a way that early adopters will get the rewards faster instead of stretching the ROI time even longer.
I mean with the 18BTC I deposited 5 months ago, there has been no increase in the infrastructure hashing speed which makes it no different than mining bonds except more expensive since most mining bonds are permanent.
Early adopters will be stuck with less than 10MH/BTC without the ability to scale up with the arrival of ASICs to the market which will result even longer time to get the reward after ASIC arrival. (at least x5 time)
With that in mind, instead of getting the reward back in 30-40 months, it would be over 10 years to get the btc back with the very low speeds.

[pyramining]

The only issue i have with this plan on the ASIC is that early adopters will not benefit from it at all, in fact it would hurt them rather than benefit them.
Another plan is to scale the whole project together in a way that early adopters will get the rewards faster instead of stretching the ROI time even longer.
I mean with the 18BTC I deposited 5 months ago, there has been no increase in the infrastructure hashing speed which makes it no different than mining bonds except more expensive since most mining bonds are permanent.
Early adopters will be stuck with less than 10MH/BTC without the ability to scale up with the arrival of ASICs to the market which will result even longer time to get the reward after ASIC arrival. (at least x5 time)
With that in mind, instead of getting the reward back in 30-40 months, it would be over 10 years to get the btc back with the very low speeds.

Why are you stating this? When ASICs will be introduced, EVERYONE will benefit of it, and it won't take 10 years to get your BTC back. Did you read attentively the rules, expecially those about ASIC technology upgrade?

[Akka]

Maybe you should post this on you homepage, to not confuse noobs:

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.

Or something like that, to make it clear that the increased Hashing power goes to the benefit of all accounts, but pre depositors receive a bonus.

[almwaysa]

Thanks for clearing up
I thought ASIC mining power was exclusive to those who deposit with the last 1111.
My mistake

[jgechucky]

Hello.

How long it takes to receive the income I made in my account pyramining?. Payments are automated? to that amount?

thanks

[Monkey1]

This will really depend upon how much you invested, current difficulty, reward etc etc.

The current estimate (on site) for full payout is around 20 months I believe, however, you can dranatically reduce this by being clever.  I broke even within a few weeks and now I'm inclear profit.  PM me if you want details.

[BobbyJo]

Hi,

Any news on the ASICs?  Are we on track to deploy them this month as you previously intended?

[pyramining]

Any news on the ASICs?  Are we on track to deploy them this month as you previously intended?

Production should start next week, there are good chances that we will have finished boards before the end of the month. I wrote "should" in italic, because there are still a few complex tasks to complete which could lead (even if unlikely) to small delays. Holidays between the last two weeks didn't help with this. ;-) However we're currently working with prototypes and finalizing firmware.

[btharper]

Any news on the ASICs?  Are we on track to deploy them this month as you previously intended?

Production should start next week, there are good chances that we will have finished boards before the end of the month. I wrote "should" in italic, because there are still a few complex tasks to complete which could lead (even if unlikely) to small delays. Holidays between the last two weeks didn't help with this. ;-) However we're currently working with prototypes and finalizing firmware.

Still set on not selling these to people, even sans support, warranties, and the like?

What can you tell us about the predicted specs anyway? Any ASIC hardware porn?

[pyramining]

Still set on not selling these to people, even sans support, warranties, and the like?

Yes, it's simply not acceptable to sell it without warranty and support, and only a fool would buy it this way.. :-)  Providing support, warranty and so on would increase costs and then you lose the advantage.

What can you tell us about the predicted specs anyway? Any ASIC hardware porn?

ASIC boards provide (at current $13.41/BTC) 719MH/s per BTC, with an estimated power consumption set between 1.2W and 1.4W per GH/s. Miners will be arranged in sets of 1KW/each (more than 750GH/s per unit).

I will release some adult pictures of this stuff when the production will be ready to be assembled.

[btharper]

Still set on not selling these to people, even sans support, warranties, and the like?

Yes, it's simply not acceptable to sell it without warranty and support, and only a fool would buy it this way.. :-)  Providing support, warranty and so on would increase costs and then you lose the advantage.

Fair, support could be forum driven (and even if it wasn't by design I'm sure some help would be available online anyway). Warranty is a little harder to get around, it would obviously have to work once and for at least a week or two, but how long is long enough after that is the question I suppose. Not something I expected, still something I wish I could get though of course xD

What can you tell us about the predicted specs anyway? Any ASIC hardware porn?

ASIC boards provide (at current $13.41/BTC) 719MH/s per BTC, with an estimated power consumption set between 1.2W and 1.4W per GH/s. Miners will be arranged in sets of 1KW/each (more than 750GH/s per unit).

I will release some adult pictures of this stuff when the production will be ready to be assembled.

Can't wait!