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

[maikelblogo]

Hello there

I have just deposit to my pyramining account just BTC 0.03. A few days ago

¿When will i start mining an get btc's? PM please and excuse my ignorance...

[1713866520]

1713866520

[gracesfall]

Good afternoon

I deposited .02 BTC into my Pyramining account the day before yesterday but it is still registered as being a queued deposit and not an active deposit. How long does it take for deposits to move from the queue and become active?

Thanks,

Cynthia

[inaltoasinistra]

Good afternoon

I deposited .02 BTC into my Pyramining account the day before yesterday but it is still registered as being a queued deposit and not an active deposit. How long does it take for deposits to move from the queue and become active?

Thanks,

Cynthia

Half-end of January (not official). Keep checked this thread

[rdyoung]

Good afternoon

I deposited .02 BTC into my Pyramining account the day before yesterday but it is still registered as being a queued deposit and not an active deposit. How long does it take for deposits to move from the queue and become active?

Thanks,

Cynthia

He has a new round of more efficient hardware coming. He has queued up all new deposits until that hardware starts coming online. Hopefully middle to late Jan.

[gracesfall]

Good afternoon

I deposited .02 BTC into my Pyramining account the day before yesterday but it is still registered as being a queued deposit and not an active deposit. How long does it take for deposits to move from the queue and become active?

Thanks,

Cynthia

He has a new round of more efficient hardware coming. He has queued up all new deposits until that hardware starts coming online. Hopefully middle to late Jan.

Ah ok - thanks for letting me know. That's not such a bad thing. It'll give me time to get more BTC in there. Will we still be able to get in at the current share rate (.02 BTC / ea)?

[rdyoung]

Good afternoon

I deposited .02 BTC into my Pyramining account the day before yesterday but it is still registered as being a queued deposit and not an active deposit. How long does it take for deposits to move from the queue and become active?

Thanks,

Cynthia

He has a new round of more efficient hardware coming. He has queued up all new deposits until that hardware starts coming online. Hopefully middle to late Jan.

Ah ok - thanks for letting me know. That's not such a bad thing. It'll give me time to get more BTC in there. Will we still be able to get in at the current share rate (.02 BTC / ea)?

That .02btc/ghs is what he is paying for hardware. The way pyramining works is a hardware pyramid of sorts. Older deposits benefit from the tech that newer deposits can bring in.
He is changing the way he distributes hashing power for new deposits, until he make those changes and fills us in, I can't begin to guess what kind of hashing power increase we will see.

[thebitboy]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

[rigel]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

Probably not.
The second account has more hasing power but a higher capital to reward.
So reward time probably will be the same if you created both in the same period.

This reward time depends on future investments and difficulty increase.

[rdyoung]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

Probably not.
The second account has more hasing power but a higher capital to reward.
So reward time probably will be the same if you created both in the same period.

This reward time depends on future investments and difficulty increase.

If they use the 1st account to refer the second, then the 1st will payout a little bit faster.

[thebitboy]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

Probably not.
The second account has more hasing power but a higher capital to reward.
So reward time probably will be the same if you created both in the same period.

This reward time depends on future investments and difficulty increase.

So it's impossible to get even an estimate?

[rdyoung]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

Probably not.
The second account has more hasing power but a higher capital to reward.
So reward time probably will be the same if you created both in the same period.

This reward time depends on future investments and difficulty increase.

So it's impossible to get even an estimate?

Ok, Here are some estimates based on difficulty increases.
For these estimates I am going to assume he brings on 50THs of hardware.
That in theory should bring us up to approximately 2.9ghs/xbt
a 30% increase puts the ROI @ 2750 days
a 20% increase puts the ROI @ 1833 days

If he brings on 100ths, you can split these in half. 250ths, By 5, etc.
We have no way of knowing exactly how much he hardware he is bringing online unless he chooses to tell us, he also signed an NDA with the producer, so he isn't likely to give us much info.
I read that cointerra's 28nm is 500GHs per chip, if the chips he is buying are close to that he will be able to bring online a lot of power very quickly. And hopefully get ahead of the difficulty curve once and for all and stay there.

Again, this doesn't take into account many other factors. So please don't take my #s as gospel, they are for fun only.

[thebitboy]

How can I calculate when I'll get my complete reward based? I suppose it is based on my 'Eq. hasing power', right? If I have 500MH/s or 1GH/s in two different accounts, the first one is going to take the double time than the latter?

Probably not.
The second account has more hasing power but a higher capital to reward.
So reward time probably will be the same if you created both in the same period.

This reward time depends on future investments and difficulty increase.

So it's impossible to get even an estimate?

Ok, Here are some estimates based on difficulty increases.
For these estimates I am going to assume he brings on 50THs of hardware.
That in theory should bring us up to approximately 2.9ghs/xbt
a 30% increase puts the ROI @ 2750 days
a 20% increase puts the ROI @ 1833 days

If he brings on 100ths, you can split these in half. 250ths, By 5, etc.
We have no way of knowing exactly how much he hardware he is bringing online unless he chooses to tell us, he also signed an NDA with the producer, so he isn't likely to give us much info.
I read that cointerra's 28nm is 500GHs per chip, if the chips he is buying are close to that he will be able to bring online a lot of power very quickly. And hopefully get ahead of the difficulty curve once and for all and stay there.

Again, this doesn't take into account many other factors. So please don't take my #s as gospel, they are for fun only.

Thanks a lot for your answer. Indeed, this is a lot of fun

[platti]

why no rewards since december 20 ?

[jargoman]

I just had an interesting thought, since pyramining is dependent on new deposits to keep up with rising difficulty, you could go as far as to say that the past scam accusations killed pyramining by discouraging new deposits.

[ingrownpocket]

I just had an interesting thought, since pyramining is dependent on new deposits to keep up with rising difficulty, you could go as far as to say that the past scam accusations killed pyramining by discouraging new deposits.

What scam accusations?

[rdyoung]

I just had an interesting thought, since pyramining is dependent on new deposits to keep up with rising difficulty, you could go as far as to say that the past scam accusations killed pyramining by discouraging new deposits.

You can check the blockchain to verify that he is mining for rewards, therefore any scam accusations are wholly without merit.
While the first round of asics were brought way way behind schedule, they were brought online. And he has a second round of hardware coming. IF he can get ahead of the difficulty curve and stay there, there will likely be a huge influx of new investments.

[rdyoung]

why no rewards since december 20 ?

Likely because of the difficulty increases.
He said the current hardware could operate at a profit until the network hashrate hits 12phs.
We are bumping up against 10phs now. At the current rate of difficulty increase the current hardware will start operating at a loss in a few weeks. Hopefully the new hardware will show up middle of january like he said it will.

EDIT: Just checked and we got a payout not long ago.

[ninjaboon]

why no rewards since december 20 ?

Likely because of the difficulty increases.
He said the current hardware could operate at a profit until the network hashrate hits 12phs.
We are bumping up against 10phs now. At the current rate of difficulty increase the current hardware will start operating at a loss in a few weeks. Hopefully the new hardware will show up middle of january like he said it will.

EDIT: Just checked and we got a payout not long ago.

Why not just mine PPC or TGC? better ROI.

For TGC, price is rising:
https://www.cryptsy.com/markets/view/130
https://coinex.pw/trade/tgc_btc

[rdyoung]

why no rewards since december 20 ?

Likely because of the difficulty increases.
He said the current hardware could operate at a profit until the network hashrate hits 12phs.
We are bumping up against 10phs now. At the current rate of difficulty increase the current hardware will start operating at a loss in a few weeks. Hopefully the new hardware will show up middle of january like he said it will.

EDIT: Just checked and we got a payout not long ago.

Why not just mine PPC or TGC? better ROI.

For TGC, price is rising:
https://www.cryptsy.com/markets/view/130
https://coinex.pw/trade/tgc_btc

I answered this earlier in the thread.
He is setup to mine XBT, he needs an efficient way to convert from crypto to fiat, and XBT is the most fluid. It is the original Cryptocoin.
If he were to start mining another crypto, it would have be A) One that is most likely to have long term value, and B) Set it up as a side venture, rather than converting his current setup. Remember that our XBT Addresses are locked in, only pyra can change them, so its not possible to convert the current system to another coin.
And the ROI/XBT is fleeting. If you watch dustcoin.com you will see that some coins have a better ROI than XBT/LTC and then they have a worse ROI.

[ninjaboon]

why no rewards since december 20 ?

Likely because of the difficulty increases.
He said the current hardware could operate at a profit until the network hashrate hits 12phs.
We are bumping up against 10phs now. At the current rate of difficulty increase the current hardware will start operating at a loss in a few weeks. Hopefully the new hardware will show up middle of january like he said it will.

EDIT: Just checked and we got a payout not long ago.

Why not just mine PPC or TGC? better ROI.

For TGC, price is rising:
https://www.cryptsy.com/markets/view/130
https://coinex.pw/trade/tgc_btc

I answered this earlier in the thread.
He is setup to mine XBT, he needs an efficient way to convert from crypto to fiat, and XBT is the most fluid. It is the original Cryptocoin.
If he were to start mining another crypto, it would have be A) One that is most likely to have long term value, and B) Set it up as a side venture, rather than converting his current setup. Remember that our XBT Addresses are locked in, only pyra can change them, so its not possible to convert the current system to another coin.
And the ROI/XBT is fleeting. If you watch dustcoin.com you will see that some coins have a better ROI than XBT/LTC and then they have a worse ROI.

ok but I hope this will change in the near future.
pretty futile mining XBT in this crazy difficulty.
Bitcoin Difficulty:    1,180,923,195