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

[bolenath]

This is just so sad, I invested 10+ btc may 2012, and what I get is 400ish satoshi a day... You should show a little more respect for your early customers.
 You have to figure out a better plan then the current one.. :/ or give me a better deal to sell back my account..

[coinnewbit]

I have finally received my 0.01 btc back!

[Giant]

This is just so sad, I invested 10+ btc may 2012, and what I get is 400ish satoshi a day... You should show a little more respect for your early customers.
 You have to figure out a better plan then the current one.. :/ or give me a better deal to sell back my account..

I agree so much, I invested 13 BTC in ASIC when it still had to be deployed. When ASIC was deployed, old deposits benefited from ASIC as well. ASIC didn't last long and now with the new infrastructure the 1st generation ASIC deposits are left behind. I feel like I'm in a gap between early adaptors and the new deposits and that I am least likely to see my bitcoins ever again.

[Monkey1]

When will the website be back up so we can start offering referrals again?

[rdyoung]

This is just so sad, I invested 10+ btc may 2012, and what I get is 400ish satoshi a day... You should show a little more respect for your early customers.
 You have to figure out a better plan then the current one.. :/ or give me a better deal to sell back my account..

I agree so much, I invested 13 BTC in ASIC when it still had to be deployed. When ASIC was deployed, old deposits benefited from ASIC as well. ASIC didn't last long and now with the new infrastructure the 1st generation ASIC deposits are left behind. I feel like I'm in a gap between early adaptors and the new deposits and that I am least likely to see my bitcoins ever again.

ASIC wasn't the term for the last gen of mining hardware, its the term for the chips being used to mine NOW.
Have you read through the thread? He is dedicating the remaining hashing power after the queue to the oldest 10 deposits. The queue was 5.9ths and he is/has bringing/brought online 30ths+, that means 24ish ths dedicated to the old deposits. We can't know how long it will take for that hardware to hit our deposits until he implements some stats or puts a countdown on each deposit or something.

[Lincoln6Echo]

.... The queue was 5.9ths and he is/has bringing/brought online 30ths+, that means 24ish ths dedicated to the old deposits.

Are you sure that the remaining 24ish THs are dedicated to the old deposits? I'm not sure because Pyra never mentioned this or maybe I have missed a post...
If so, who paid for the 24 Ths? 

[rdyoung]

.... The queue was 5.9ths and he is/has bringing/brought online 30ths+, that means 24ish ths dedicated to the old deposits.

Are you sure that the remaining 24ish THs are dedicated to the old deposits? I'm not sure because Pyra never mentioned this or maybe I have missed a post...
If so, who paid for the 24 Ths?  

You missed a post or 2.

Pyramining paid for that hardware with the funds that had built up from deposits prior to him queuing deposits again, + the queued deposits + his own personal funds to get things back on track.

I am not in the mood to go back and actually quote him, but this is whats new.
Deposits are now assigned hashrate based on the cost of hardware at time of deposit, excess hardware gets split between the oldest 10 deposits.
When the "new" deposits get paidout that hashrate will get added to the pool of "old" deposits.

[gektek]

heh...been a supporter of Pyra for quite some time now but I gotta say...the recent changes are...confusing at best. I kinda get what is going on and at the same time not really. And I kinda agree with things but at the same time not really...maybe cuz I don't fully understand...maybe cuz I do and I dun like it. Either way I guess this is my question, keeping in mind I do remember Pyra stating the website was going to undergo changes after new hardware was installed and running...anywho...what the heck is going on?

I thought we were 'investing' bitcoin in a bitcoin business. Yes things are being purchased so chances are the purchases are based on a currency other than bitcoin but...bitcoin has a value of its own, why does it look like Pyra is creating its own value for things? I mean...if the current bitcoin value is what it is...I can FULLY understand adjusting the 'sell price' for each account based on when deposits were made but I don't understand why the hash power is being adjusted for the deposits...I thought we we're basically all supposed to be sharing, pyramid style and all... Maybe if the values were based on the price of bitcoin at the time of a Pyra hardware purchase but I made deposits of the exact same amount several days in a row and they all have different hash power ratings (I think...things are confusing...sigh) ...I am assuming because the value of bitcoin changed day to day but but but...and thats about the point where things start to get all loopy and chicken or the egg? type questions...

So...if there was a simple explanation somewhere, a simple link to that post would be great...otherwise...what'sa goin on lately???

Please and thank you.

[rdyoung]

I thought we we're basically all supposed to be sharing, pyramid style and all...

We were, but the older fpga deposits weighed down the hashrate for the deposits that came after it. Look back for my posts on this. A few of us did some detailed math and discussion on this.

[gektek]

I thought we we're basically all supposed to be sharing, pyramid style and all...

We were, but the older fpga deposits weighed down the hashrate for the deposits that came after it. Look back for my posts on this. A few of us did some detailed math and discussion on this.

Ahh...so my mistake was not taking advantage of the 'pre order' thing that was happening last year. I just made direct deposits so they would start earning right away and da dah dah dah... I get it now...sorta... ;P

[rdyoung]

I thought we we're basically all supposed to be sharing, pyramid style and all...

We were, but the older fpga deposits weighed down the hashrate for the deposits that came after it. Look back for my posts on this. A few of us did some detailed math and discussion on this.

Ahh...so my mistake was not taking advantage of the 'pre order' thing that was happening last year. I just made direct deposits so they would start earning right away and da dah dah dah... I get it now...sorta... ;P

It would not have mattered. He has assigned ALL deposits a hashrate based on the date/time of the deposit. My 47.xxbtc account is getting 11.6ghs, some of that is newer deposits, but all in all its close to the hashrate from before the change. If you deposit now, you get 137.4ghs per btc. You wouldn't have gotten that with the "preorder".

I can't back this up with any hard evidence, but I think that it will be sooner than we think for that hardware to knock the "old" deposits up to the 1stgen asics. I went up the chain above me, no wandering just straight up and the average completion was 70% when I did the math. Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

[simonk83]

Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

Well I have a 100btc deposit from early 2013, that's 5% complete and getting 3.4 GH/s.

Don't hold your breath.

[rdyoung]

Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

Well I have a 100btc deposit from early 2013, that's 5% complete and getting 3.4 GH/s.

Don't hold your breath.

Thats exactly what I am talking about.
The deposits much larger and older than ours were on average 70% complete. This stat alone bodes well for how long it will take for us to see that hashing power hit our deposits.

[simonk83]

Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

Well I have a 100btc deposit from early 2013, that's 5% complete and getting 3.4 GH/s.

Don't hold your breath.

Thats exactly what I am talking about.
The deposits much larger and older than ours were on average 70% complete. This stat alone bodes well for how long it will take for us to see that hashing power hit our deposits.

I'd consider mine a large deposit   Are we talking deposits in the thousands?  I'm not sure that's been established.

[rdyoung]

Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

Well I have a 100btc deposit from early 2013, that's 5% complete and getting 3.4 GH/s.

Don't hold your breath.

Thats exactly what I am talking about.
The deposits much larger and older than ours were on average 70% complete. This stat alone bodes well for how long it will take for us to see that hashing power hit our deposits.

I'd consider mine a large deposit  Are we talking deposits in the thousands?  I'm not sure that's been established.

There are a couple of 2000btc deposits I believe, however I am pretty sure most are below 1000. Here is a list of the deposits above me that aren't complete. Again, this is straight up the chain with no wandering.

For reference, I created my first account 2-19-13 and made my first deposit 2 days later.

Status:   active
Total deposited amount:   10.00000000
Rewarded amount:   10.78134688
Sent amount:   10.77386958
Completion:   55%

Status:   active
Total deposited amount:   8.50000000
Rewarded amount:   18.21176785
Sent amount:   18.20902052
Completion:   94%

Total deposited amount:   10.28687931
Rewarded amount:   390.93677378
Sent amount:   390.93467570
Completion:   92%

Total deposited amount:   250.11547159
Rewarded amount:   280.86868397
Sent amount:   280.86393634
Completion:   99%

Total deposited amount:   100.20000000
Rewarded amount:   108.53217130
Sent amount:   108.52848873
Completion:   89%

Total deposited amount:   451.10003333
Rewarded amount:   120.20002855
Sent amount:   120.19030316
Completion:   23%

Total deposited amount:   460.26001111
Rewarded amount:   145.05625443
Sent amount:   145.05412268
Completion:   27%

[rdyoung]

Pyramining: An update would be appreciated.
On the 27th you said the last bit of hardware would be installed in approx 10 days. Is that the case?

[Monkey1]

I think you are being massively optimistic.  In the accounts you quoted above(which is a single chain), two accounts had over 400 BTC with a combined total of 646 BTC remaining.  The bonus for these accounts would be at least 10% adding another 64 BTC to them but Ill assume a total of 700 BTC.

30 THash will bring in approx 1.7 BTC per day (dropping to 1.55 BTC per day next difficulty and continuing to decrease).

So assuming its 1.55 BTC enduring and the 30 THash are allocated across 10 accounts (3 THash each- 0.155 BTC per day per account), these two accounts would take 2258 days to clear.

And this does not allow for difficulty increases or other accounts.  I have at least 1000 BTC in my up chain and again, this is a single chain.

Any bonus should not be used to 'clear out' old accounts, but rather split evenly across all accounts so we all benefit a little and dont have to wait decades to see any benefit.

I thought this is what we signed up to, a pyramid type pool, where older adopters benefited and were not written off!

[Lincoln6Echo]

Well, I joined Pyramining 2012-06-18.

Bitcoins that have to be mined for accounts above me: around 155.

And it seems that the top account of my chain isn't even among the oldest 10!

[rdyoung]

I think you are being massively optimistic.  In the accounts you quoted above(which is a single chain), two accounts had over 400 BTC with a combined total of 646 BTC remaining.  The bonus for these accounts would be at least 10% adding another 64 BTC to them but Ill assume a total of 700 BTC.

30 THash will bring in approx 1.7 BTC per day (dropping to 1.55 BTC per day next difficulty and continuing to decrease).

So assuming its 1.55 BTC enduring and the 30 THash are allocated across 10 accounts (3 THash each- 0.155 BTC per day per account), these two accounts would take 2258 days to clear.

And this does not allow for difficulty increases or other accounts.  I have at least 1000 BTC in my up chain and again, this is a single chain.

Any bonus should not be used to 'clear out' old accounts, but rather split evenly across all accounts so we all benefit a little and dont have to wait decades to see any benefit.

I thought this is what we signed up to, a pyramid type pool, where older adopters benefited and were not written off!

I too was prepared for us to just split the new hardware and would prefer it that way.
I don't feel I am being too optimistic, previously we saw deposits being finished with every reward.
You looked at the total amounts, but not the % completion. There is also the referral bonus that gets kicked back down chain when an account is complete.

Perhaps pyramining will see fit to up the split to 20 or 30 deposits, so its less likely that the queue gets clogged with the larger deposits.
I am also curious how this will work with the accounts with very large referral bases?
1 of the accounts in that list has 1559btc left to payout on a 460btc balance thanks to referrals. NOTE: I have nothing against a referral system, I am simply curious how this 10deposit attack will work with those accounts, will they payout 110% and then pay the rest as the downline gets paidout? Or will it stay in the queue until, for that account I referenced, it pays out the entire 1559btc left?

I am also hopeful that pyra has plans to bring more hardware online when the price begins to rise again.

[simonk83]

What I think should absolutely be happening is that any account that has had payouts exceeding the amount the initially deposited should be paused.  Hash power should be directed at those of us who have yet to see, and are far from, a return.

Of course that select group of people will disagree, but that's too bad as far as I'm concerned.  You're in profit while most of us aren't remotely close.