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

[bitpop]

10% of 0 roi is 0

[1713936362]

1713936362

[1713936362]

1713936362

[1713936362]

1713936362

[1713936362]

1713936362

[1713936362]

1713936362

[1713936362]

1713936362

[refaelsh]

10% of 0 roi is 0

Again?

[Pzi4nk]

10% of 0 roi is 0

Ha ha. I guess I should have said "hypothetically".

[Tittiez]

Since the bitcoin value is noticeably higher than when Pyramining started, the payout threshold has been lowered to 0.1 BTC.

I wondered where that 0.5BTC came from. Thank you, I didn't think my 50MH/s would ever make it to 1BTC

[Pzi4nk]

The base reward is 10% but that can be increased by refereals.

How much does each referral increase the reward?

(I know it depends on the amount you deposited and the amount your referral deposits, I'm hoping you can clarify those factors.)

Ex: I deposit 10BTC and I refer someone who deposits 10BTC. Would my reward now be 11% or 20%?

http://www.links-pyramining.com/mastering-pyramining

Here you can also find an investment calculator.

Thanks, great calculator.

BTW, answer is 20% for those just reading along.

[biddicoin]

Everyone is waiting for answer. Admin, please, answer us. Whose ASICs did you  buy

None, he's making his own.

Perhaps with avalon chips... perhaps he had a deal with avalon and received the chips first

[Boelens]

I just deposited 0.2 BTC, about how long will it take to pay this back?

[Otaci]

This investment does not seem like a good idea at the moment. I have hopes for his implementation of ASIC but I'm holding on investing any more until I see some progress in that area.

In other words: it may take a long time to get any return on any investment made now.

[Monkey1]

That depends upon how you deposited it, future difficulty and when he deploys ASICs.

There are ways to reduce your waiting time, however.

Current predictions on Pyramining site (without deployment of ASIC) is 72 months to break even.  Once he deploys ASICs this will dramatically reduce.

[Boelens]

That depends upon how you deposited it, future difficulty and when he deploys ASICs.

There are ways to reduce your waiting time, however.

Current predictions on Pyramining site (without deployment of ASIC) is 72 months to break even.  Once he deploys ASICs this will dramatically reduce.

Ah, that's great to hear. 72 months seems a bit much =P.

[btharper]

The base reward is 10% but that can be increased by refereals.

How much does each referral increase the reward?

(I know it depends on the amount you deposited and the amount your referral deposits, I'm hoping you can clarify those factors.)

Ex: I deposit 10BTC and I refer someone who deposits 10BTC. Would my reward now be 11% or 20%?

http://www.links-pyramining.com/mastering-pyramining

Here you can also find an investment calculator.

Thanks, great calculator.

BTW, answer is 20% for those just reading along.

More generally, I think it's 10% of your referral's deposit converted back as a percentage of your deposit. If you deposit more after you get a referral your bonus % will go down but your total reward will still increase.

[ninjaboon]

Hi OP, can we have a deadline on your ASIC rollouts? BFL is already shipping....

[matthewh3]

Hi OP, can we have a deadline on your ASIC rollouts? BFL is already shipping....

What ASIC chips are being used?

[btharper]

Hi OP, can we have a deadline on your ASIC rollouts? BFL is already shipping....

Pyramining said he would look into buying competitor's chips when one of them could ship an order in a reasonable time frame. Avalone and now BFL can make chips, and can ship them to you "eventually". Nothing solid yet.

Hi OP, can we have a deadline on your ASIC rollouts? BFL is already shipping....

What ASIC chips are being used?

Homebrew, as has been said a dozen or more times.

[Pzi4nk]

http://www.links-pyramining.com/mastering-pyramining

Here you can also find an investment calculator.

Really cool investment calculator at the above link.

Experimenting with various deposits spread out over three self-referrals (i.e., using my own referral links) it looks like the best average return (total return/total investment) is 20% and regardless of how you spread out the investments it will take something like 79 months (6.5 years) to get the full return.

On an annualized basis this works out to be 2.78% APR. (That is, if you invest $100 today at 2.78% APR in 79 months you will have $120 or a 20% return.)

This is not bad considering today's savings account returns but it's awful as an investment, especially one with any risk attached to it (as this one does). The only way it makes sense is if you believe you can get other people to use your referral links. It doesn't work as a stand alone investment.

There may be good reasons for using Pyramining, but I would look elsewhere for investing if you're looking for a decent ROI.

[links-pyramining]

http://www.links-pyramining.com/mastering-pyramining

Here you can also find an investment calculator.

Really cool investment calculator at the above link.

Experimenting with various deposits spread out over three self-referrals (i.e., using my own referral links) it looks like the best average return (total return/total investment) is 20% and regardless of how you spread out the investments it will take something like 79 months (6.5 years) to get the full return.

On an annualized basis this works out to be 2.78% APR. (That is, if you invest $100 today at 2.78% APR in 79 months you will have $120 or a 20% return.)

This is not bad considering today's savings account returns but it's awful as an investment, especially one with any risk attached to it (as this one does). The only way it makes sense is if you believe you can get other people to use your referral links. It doesn't work as a stand alone investment.

There may be good reasons for using Pyramining, but I would look elsewhere for investing if you're looking for a decent ROI.

When ASICs will be ready, the time will be reduced dramatically... Pyramining says about 2/4 months. ASICs will be ready by the end of this month if everything goes fine!

[pyromaniac]

http://www.links-pyramining.com/mastering-pyramining

Here you can also find an investment calculator.

Really cool investment calculator at the above link.

Experimenting with various deposits spread out over three self-referrals (i.e., using my own referral links) it looks like the best average return (total return/total investment) is 20% and regardless of how you spread out the investments it will take something like 79 months (6.5 years) to get the full return.

On an annualized basis this works out to be 2.78% APR. (That is, if you invest $100 today at 2.78% APR in 79 months you will have $120 or a 20% return.)

This is not bad considering today's savings account returns but it's awful as an investment, especially one with any risk attached to it (as this one does). The only way it makes sense is if you believe you can get other people to use your referral links. It doesn't work as a stand alone investment.

There may be good reasons for using Pyramining, but I would look elsewhere for investing if you're looking for a decent ROI.

When ASICs will be ready, the time will be reduced dramatically... Pyramining says about 2/4 months. ASICs will be ready by the end of this month if everything goes fine!

2/4 months means 2 or 4 months, half month or 2/4 of current time in months, i.e. 36?

[Pzi4nk]

When ASICs will be ready, the time will be reduced dramatically... Pyramining says about 2/4 months. ASICs will be ready by the end of this month if everything goes fine!

Yes, when ASIC mining starts it will change these numbers. It's difficult to predict the change in difficulty and therefore estimate the payback period in advance of these coming online.

Once ASICs are actually producing there will likely be a leap in difficulty but a reduction in mining activity as all non-ASIC miners drop out of the pool. This will give ASICs an initial advantage until the supply of ASIC mining machines catches up to the previous level of non-ASIC mining.

Once Pyramining has ASICs in place and producing coins I'll look at this opportunity again. Until then, I'm out.

[bitpop]

PyraMining 1.5 BTC Account Auction
https://bitcointalk.org/index.php?topic=195658

[platti]

I cannot log in. there is no captcha to solve