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

[matthewh3]

What is the info on these homebrew ASIC's they cost millions to develop did Pyramining really have the resources to go alone on that?

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[Theraty]

What is the info on these homebrew ASIC's they cost millions to develop did Pyramining really have the resources to go alone on that?

Have you a link to a post or article related to this?

[matthewh3]

What is the info on these homebrew ASIC's they cost millions to develop did Pyramining really have the resources to go alone on that?

Have you a link to a post or article related to this?

[btchaver]

I think 79 months is too long for a 10-20% return. ASICs will help, but with ASICs comes increased difficulty so...who knows what the payback time will be.

thats way to long btc might go down by then anythinbg can happen thats 4-5 years plus 10-20% this company might not even be in business by then your basically giving away your money to a Huge Pit in my opinion.

[gektek]

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

[Pzi4nk]

I think 79 months is too long for a 10-20% return. ASICs will help, but with ASICs comes increased difficulty so...who knows what the payback time will be.

thats way to long btc might go down by then anythinbg can happen thats 4-5 years plus 10-20% this company might not even be in business by then your basically giving away your money to a Huge Pit in my opinion.

Exactly my point. With the volitility of BTC I wouldn't want to tie up my coins for over 6 years just for a 10% return. And that's if everything goes as planned. As btchaver points out, there are a lot of things that can go wrong.

[Pzi4nk]

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

I'm not trying to talk anyone out of Pyramining, I just think people should think it through and know what they're getting into.

The standard payout is 10% which you can increase to 20% by using your own referral codes. (This assumes no one uses your referral codes but you.)

That 20% return will take you ~79 months to generate. That's 2.8% APR.

Would you invest your money for 2.8%? Maybe in a super secure CD or bond, but certainly not in a risky venture like pyramining. Anything could happen in the next 6 years. You might never recoup your original investment much less make a return.

I'm just saying, think it through and make sure you're comfortable with the risk/reward.

[ninjaboon]

I've got some BTC tied up in OP's site. Now I wish I can move them out as I've found better options with higher yields. Hope OP could create an opt-out option.

[bitpop]

Do you not understand it will take 80 months to get JUST your capital back?

Why would you give someone $100 and have them pay you $1 a month for 80 months. THERE'S NO PROFIT.

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

[Theraty]

Do you not understand it will take 80 months to get JUST your capital back?

Why would you give someone $100 and have them pay you $1 a month for 80 months. THERE'S NO PROFIT.

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

About 50 months or less in my case. Thanks Bitpop

[bitpop]

Yes theraty got a 50% off deal

PS. you're first link is broken again.

[thebitboy]

Do you not understand it will take 80 months to get JUST your capital back?

Why would you give someone $100 and have them pay you $1 a month for 80 months. THERE'S NO PROFIT.

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

so you haven't invested in pyramining?

[bitpop]

I did on an impulse and knew instantly I had to get rid of it so I sold it. I lost .7 in the process.

[BadBear]

I think 79 months is too long for a 10-20% return. ASICs will help, but with ASICs comes increased difficulty so...who knows what the payback time will be.

thats way to long btc might go down by then anythinbg can happen thats 4-5 years plus 10-20% this company might not even be in business by then your basically giving away your money to a Huge Pit in my opinion.

Exactly my point. With the volitility of BTC I wouldn't want to tie up my coins for over 6 years just for a 10% return. And that's if everything goes as planned. As btchaver points out, there are a lot of things that can go wrong.

I agree. Historically, it would be far more profitable to just stick them in cold storage.

[seot]

Do you not understand it will take 80 months to get JUST your capital back?

Why would you give someone $100 and have them pay you $1 a month for 80 months. THERE'S NO PROFIT.

I'm having a hard time understanding what everyones gripe is, about how long your investment is paid out in full... I've invested only a small amount of btc...a little over 5 now over roughly the last year. The btc that I had invested here was basically 'extra'. I'd buy something with btc and then deposit the 'change' in one of my several Pyramining accounts. Over the last year this 'change' is what has added up to the 5+ btc worth of deposits. And now, especially since the payout threshold was lowered to 0.10 btc, I occasionally get an extra little 'bonus' in my wallet on top of the mining that I do myself. So, this 'change' I have tossed into a jar over time has begun to spill over and I can put an extra few gallons in my gas tank from time to time. So Pyramining is working out GREAT for me...really not sure what the big deal is. I've actually even been just depositing the reward I have gotten from Pyra BACK into my Pyra accounts thus raising my 'equivalent hashing speed' even more. Its all a bunch of win win from my spare change over time...what's the harm in that? I mean, unless you're trying to use Pyramining as your sole source of mining 'income' then I guess some frustrations might be had...

I agree with gektek too.  I´ve invested "change" in Pyramining too, not in only one account, but in many accounts with little amounts. I get some referrals for some of this accounts. I joined Pyramining on September, and yesterday I got all my invested capital returned, plus a little more; and I am still in 27% completion. I rather prefer investing in Pyramining than gambling as I do first. I just think he/she is working hard to get ASIC working by the last days of this month or first days of June. Maybe it was a wrong decision try to develop his own ASIC, but I prefer having invested in Pyramining ASIC than loosing my bitcoins in other places (like keeping them in Instawallet, that I don´t know if I am going to see them or not)

[gektek]

Si si...I mean it still isn't much but on a few of my accounts I am running with a 35% or higher bonus so I dunno...seems good to me. Bitcoin mining = patience...but then I'm an actual miner not an investor so point being...I have patience in spades so Pyra seems like the best Bitcoin retirement plan available at the moment. I have faith in the bitcoin community that it won't die out. Even when there is nothing left to mine but the fees from transactions...I will still be mining away. I'm in this for the long haul...and I don't even have any ASICs or FPGAs of my own...I'm still purely GPU myself Running one machine with 500 Mh/s. Another with 1.1 Gh/s. Another with 90 Mh/s. And then my Pyra account running at around 50 Mh/s. I don't make much but considering I started out with only my original Radeon 7450 that came with my HP desktop machine running at omg what was it...35 Mh/s I think...I feel I've come a long way and Pyra has been there helping me out all this time so...

Jake

[Theraty]

Whens the new infrastructure going to be installed bringing the total to 50.25 MH/BTC.

[Akka]

Whens the new infrastructure going to be installed bringing the total to 50.25 MH/BTC.

That's means 50.25 MH/s new infrastructure are added to the total for every new BTC invested, not that the total infrastructure will increase to that level.

[Theraty]

Whens the new infrastructure going to be installed bringing the total to 50.25 MH/BTC.

That's means 50.25 MH/s new infrastructure are added to the total for every new BTC invested, not that the total infrastructure will increase to that level.

Does it mean increased rewards for current bitcoin investments?

[platti]

no payouts since 4 days