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

[inaltoasinistra]

Would be nice to have an update from Pyraming...

[1714020579]

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[1714020579]

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[1714020579]

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[rdyoung]

Would be nice to have an update from Pyraming...

That would be nice. It has been longer than usual that he has been out of contact.

p2pool.info has been having issues, found another site to track p2pool info
http://minefast.coincadence.com/p2pool-stats.php

[Monkey1]

I know why it was done, I just fundamentally disagree with doing it.  We all knew what we joined when we joined it (although some people appear unable to read a page of writing and cry foul, but you will always get that).

I would be happy with small payouts if the structure was what I paid for at the start.  What annoys me is that people complained, so he changed the entire structure for everyone, without proper consultation.  I agree that if it was left as it was, we would still be receiving small payouts, but they would be greater than they currently are, and it would be what we all agreed to at the start.

Now the idea is to benefit new accounts at the expense of older ones (and for months you haven't even been able to make new accounts).  Difficulty is continuing to rise at a massive rate and you cant create new accounts to add to the power.
Since he changed the rules, the wheels have fallen off this.  I think we ware just going to have to man up and write off any outstanding coins (which for me is a considerable amount of coins and/ or fiat!!).

I disagree with the idea that pyramining is dead in the water. There are ways to fix this, the changes he made are how things should have been from the beginning, the way it was was a good idea it simply did not see the asic generation of mining power coming.
If he would do one of the things I laid out in a previous post it would get things going again, especially if he brings back account creation so that those that are good at marketing can bring in some new accounts as well as being willing to buy available hardware instead of creating his own.
Another project I am invested/watching petamine was able to bring on over a petahash in a very short time, where as pyra was bringing on 10ths or less every week or so.

Its irrelevant how things should have been.  This is not how they were implemented and we all knew the rules and agreed to them by signing up.  I dont have an issue changing the rules for new deposits but that is not what has happened.  the rules changed after money was taken (and held in a queue) and a block on any new accounts being created.  I see no way to make back the outstanding coins, unless difficulty decreases by a factor of at least 100 (unlikely unless the GHash data centers fail- and even then it would be temporary).  For example, I have over 25 BTC outstanding and since he reimplemented payouts, I have received approx 0.09 BTC.  At that rate (not allowing for difficulty increasing by at least 10% every ten days) it will take me approx 45 years to receive my coins.  And with no way to create new accounts?  How is that not dead in the water?

[rdyoung]

I know why it was done, I just fundamentally disagree with doing it.  We all knew what we joined when we joined it (although some people appear unable to read a page of writing and cry foul, but you will always get that).

I would be happy with small payouts if the structure was what I paid for at the start.  What annoys me is that people complained, so he changed the entire structure for everyone, without proper consultation.  I agree that if it was left as it was, we would still be receiving small payouts, but they would be greater than they currently are, and it would be what we all agreed to at the start.

Now the idea is to benefit new accounts at the expense of older ones (and for months you haven't even been able to make new accounts).  Difficulty is continuing to rise at a massive rate and you cant create new accounts to add to the power.
Since he changed the rules, the wheels have fallen off this.  I think we ware just going to have to man up and write off any outstanding coins (which for me is a considerable amount of coins and/ or fiat!!).

I disagree with the idea that pyramining is dead in the water. There are ways to fix this, the changes he made are how things should have been from the beginning, the way it was was a good idea it simply did not see the asic generation of mining power coming.
If he would do one of the things I laid out in a previous post it would get things going again, especially if he brings back account creation so that those that are good at marketing can bring in some new accounts as well as being willing to buy available hardware instead of creating his own.
Another project I am invested/watching petamine was able to bring on over a petahash in a very short time, where as pyra was bringing on 10ths or less every week or so.

Its irrelevant how things should have been.  This is not how they were implemented and we all knew the rules and agreed to them by signing up.  I dont have an issue changing the rules for new deposits but that is not what has happened.  the rules changed after money was taken (and held in a queue) and a block on any new accounts being created.  I see no way to make back the outstanding coins, unless difficulty decreases by a factor of at least 100 (unlikely unless the GHash data centers fail- and even then it would be temporary).  For example, I have over 25 BTC outstanding and since he reimplemented payouts, I have received approx 0.09 BTC.  At that rate (not allowing for difficulty increasing by at least 10% every ten days) it will take me approx 45 years to receive my coins.  And with no way to create new accounts?  How is that not dead in the water?

I am not sure what you arguing about? We agree on everything except the point that this can't be fixed.
You are ignoring what I have posted that would allow this to get back on track.

If he would A) Enable new accounts so that some of us can start advertising it and B) Do something like split the excess hashing power amongst 100+ deposits instead of the 10 currently OR flip it around and start clearing out the smallest deposits to get enough funds flowing to bolster A). He also needs to be willing to purchase hardware from one of the many vendors that have equipment in stock and ready to ship. Bitfury and Bitmaintech both come to mind. Bitmaintech has a reputation of having ready to ship hardware. If he did this, and was willing to add new hardware as the funds were available, forget waiting until the 30ths has soldout, buy new hardware NOW to get your old accounts paid out, this project could have a long and healthy life ahead of it.

Us bitching about what should have been doesn't do much considering pyra has apparently gone awol. He was "on" the forum on the 14th of june but hasn't posted anything since the 27th april. I sent him a PM on the 22nd of april that has gone answered.

Unless of course he has decided to let this project slowly die, in that case ignore everything I have said above.

[rdyoung]

why i cant sell my account ?

No clue, I just tried to sell one of mine and got the same error message someone else did. And I know I did it right because I have changed my address with pyra via the same signature method.

[symbot]

why i cant sell my account ?

No clue, I just tried to sell one of mine and got the same error message someone else did. And I know I did it right because I have changed my address with pyra via the same signature method.

This really needs to be fixed!

[rdyoung]

why i cant sell my account ?

No clue, I just tried to sell one of mine and got the same error message someone else did. And I know I did it right because I have changed my address with pyra via the same signature method.

This really needs to be fixed!

Indeed

[teamfresh]

I just wanted to say a thank you to pyramining. I love the service as it has generated me a good fair profit. I am very happy with the results.
When I read this thread it reminds me just how much of a live experiment BTC is and I am glad to be a part of it.

[abbeytim]

I just wanted to thankyou to pyramining for ripping me off I joined in may 2012 and less then half of the 4btc is paid back

[abbeytim]

lets see 4btc in 2012 = 34mh/s  so  2btc / 0.00003866 BTC per month = 51733 months /12 = 4311 years hmm what a scam

[rdyoung]

lets see 4btc in 2012 = 34mh/s  so  2btc / 0.00003866 BTC per month = 51733 months /12 = 4311 years hmm what a scam

Lets see... You invested 4btc in may 2012? Avg price then was 5$/btc. Now its @ 600. You invested 20$ and have gotten paid out 1200$ Or if you sold somewhere near the peak early this year, you would have netted 2000$.
Yep, smells like a scam to me.

[Lincoln6Echo]

@rdyoung: You really calculate rewards of a Bitcoin Investment in Dollar?

If this is the case i have a special offer for you:
Send me your bitcoin today. When Bitcoin price has trippeled I will give you half of your coins back. So both of us will profit. Multisig Escrow accepted. Deal?

[rdyoung]

@rdyoung: You really calculate rewards of a Bitcoin Investment in Dollar?

If this is the case i have a special offer for you:
Send me your bitcoin today. When Bitcoin price has trippeled I will give you half of your coins back. So both of us will profit. Multisig Escrow accepted. Deal?

Yes and No. Considering you still need to cashout BTC to fiat to pay the mortgage/rent, power, etc, then yes.
Add to that the fact that the way the network is growing if you invest 1btc in hardware or cloud mining, you will likely only get .75btc back, BUT if btc doubles, you still made a profit. Mining is a net loss game in the form of BTC at the moment.

[Squeaker]

People's problem is that they still treat BTC as a currency instead of a commodity that can be exchanged as a method of payment.

It isn't reasonable to ignore the real-world value of BTC.

=squeak=

[rdyoung]

People's problem is that they still treat BTC as a currency instead of a commodity that can be exchanged as a method of payment.

It isn't reasonable to ignore the real-world value of BTC.

=squeak=

Exactly. The way the difficulty has been increasing the only way to see a positive ROI from mining is in fiat. We are likely a ways off from the network settling down to a reasonable 1 or 2 % increase per adjustment. I do believe this day will come, but probably only after we shrink the die size a couple more times.

Anyone that thinks that they can spend btc on cloud mining or equipment and make a positive ROI in btc is delusional.
Bitmaintech has a 1ths miner for 1805$ or 3.078btc at the moment. It is supposed to be shipping on the 30th so its worth using for this.
The ONLY way you would see a BTC Positive ROI on that miner is IF and ONLY IF the difficulty increases stay below 15% for the next 4+ months.
The next adjustment is 25%+, so that scenario is not likely to happen. Not to mention that even at 15% increases, it fails to cover its own power bill after jan of next year IF btc/usd stays around 600$.

[Muhammed Zakir]

Hello!
I need a pyramining referral link. Can anyone send me one?

It is better to make pyramining open to all then sign a new person under a random referral link. I hope you will look forward about this.

Kindly,
        Muhammed Zakhir

[BaalMcKloud]

Hello!
I need a pyramining referral link. Can anyone send me one?

It is better to make pyramining open to all then sign a new person under a random referral link. I hope you will look forward about this.

Kindly,
        Muhammed Zakhir

new account creation and referral links are not activated atm...

[Muhammed Zakir]

Hello!
I need a pyramining referral link. Can anyone send me one?

It is better to make pyramining open to all then sign a new person under a random referral link. I hope you will look forward about this.

Kindly,
        Muhammed Zakhir

new account creation and referral links are not activated atm...

Thanks for notifying it.
Do you know when it will be active (approx time) ?

Kindly,
        Muhammed Zakhir

[rdyoung]

Hello!
I need a pyramining referral link. Can anyone send me one?

It is better to make pyramining open to all then sign a new person under a random referral link. I hope you will look forward about this.

Kindly,
        Muhammed Zakhir

new account creation and referral links are not activated atm...

Thanks for notifying it.
Do you know when it will be active (approx time) ?

Kindly,
        Muhammed Zakhir

We collectively have no clue. We haven't heard from pyra in a couple of months

[lemat111]

I have lost all my btc in this site...Scam ? where is pyra? ?