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

[Raoul Duke]

Psy, 70000 percent? where the heck are you recruit these numbers? I picked up a couple on reddit.

Here on the forum And make that 114549.6% lol
But don't let those numbers impress you. I deposited very little so far, and all that % comes from the guy who deposited a Join fee of 2000BTC so far Seeing as he started with a 50 BTC deposit... things can only get better.
Pyramining will end up allocating the 25GH/s by the end of the week lol

[1715178401]

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[1715178401]

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[1715178401]

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[pyramining]

Indeed... if you deposit a little amount and your referral something much bigger, it can happen. Psy you have been very lucky!

[finkleshnorts]

..... http://pyramining.com/referral/am3cybqkt   !!!!!!!!!!!!

[Raoul Duke]

Indeed... if you deposit a little amount and your referral something much bigger, it can happen. Psy you have been very lucky!

Not as lucky as you, seeing as you already raised aproximately 3000BTC in 24hrs that will allow you to expand your mining OP

[Raoul Duke]

How much hashing power do you have?  What are you going to do if you run out?  I assume at some point all of your current hashing power will be allocated to this project and you will then have to go out an buy more.  Once that happens there will be a delay as more hashing power is brought on line.

So, how much actual hashing power do you have currently?
How much of that is allocated to this project?
How long will it take you to bring more power on line?

25GH/s that what he have.
Currently half of it is allocated to the project, but more will be soon because one large deposit was just made, so maybe 15 GH/s allocated.

These are simple pointers that were already answered on this and other thread on the newbies forum.
I'm sure pyramining will give you exact numbers

[pyramining]

Pyramining will end up allocating the 25GH/s by the end of the week lol

Yes indeed, 25GH/s is what I have immediately available. I already placed new orders for hardware, I will add 10GH/s before the end of the month and 120GH/s by July, and I will keep updating quantities proportionally to demand.

[pyramining]

So, how much actual hashing power do you have currently?

25GH/s operational.

How much of that is allocated to this project?

Now it's 16.9GH/s

How long will it take you to bring more power on line?

I have already several orders open, already placed for my mining operations, but I can dedicate them to Pyramining. As I explained in a previous post, there are 10GH/s in delivery for this month and 120GH/s by July. I think that these numbers could fulfill Pyraminings needs.

If more hashing power is needed, I can obtain it in ~ 2 months.

I didn't expect so much success, if demand will exceed available hash rate by too much, in the worst case I will have to suspend new subscriptions for a while. Anyway I am doing my best to fulfill all the requests.

[finkleshnorts]

deepbit better look out 

[finkleshnorts]

I do have some questions:

If I join without a referral, even though I make less in the end, won't I get a faster payout if nothing is going upstream?

What if I join without referral with a 0.01 join fee, refer myself once (or three times with 0.01) and then deposit a bunch? Technically isn't that the most profitable way of using the system?

I joined under Psy, then I went three referrals down and did ^that. Is Psy or whoever's above him seeing $ from that account (does money go up past three levels)?

[Raoul Duke]

I do have some questions:

If I join without a referral, even though I make less in the end, won't I get a faster payout if nothing is going upstream?

What if I join without referral with a 0.01 join fee, refer myself once (or three times with 0.01) and then deposit a bunch? Technically isn't that the most profitable way of using the system?

I joined under Psy, then I went three referrals down and did ^that. Is Psy or whoever's above him seeing $ from that account (does money go up past three levels)?

You're also not seeing any money from those accounts either, unless they somehow manage to reach at least 1 BTC of reward, which I doubt they will if you only deposit 0.01 BTC in them
You should've just played the game like it was supposed to be played

[finkleshnorts]

Most of my money is still right under yours, no worries  He said we could game however we want though right? I figure I can get those two accounts in between up to that amount, one of them is the 4300 percent one. I've never seen an investment structure like this; its hilarious and really creative. it's definitely paying off for him. Kudos to that guy

[pyramining]

I do have some questions:

If I join without a referral, even though I make less in the end, won't I get a faster payout if nothing is going upstream?

What if I join without referral with a 0.01 join fee, refer myself once (or three times with 0.01) and then deposit a bunch? Technically isn't that the most profitable way of using the system?

I joined under Psy, then I went three referrals down and did ^that. Is Psy or whoever's above him seeing $ from that account (does money go up past three levels)?

1) If you join without referral you get less bonus, but yes, you will get faster payout.

2) The way you described is the "selfish" way, to earn as much as possible doing it all alone. However the most profitable way to use it is to deposit any amount and find some referrals that do the same, so your bonus would grow much more.

3) No, it doesn't go up more than 3 levels. But your "bigger" account will feed your upper level account, and in turn 30% of that will go to Psy.

[pyramining]

He said we could game however we want though right?

Yes you are free to build up your strategy.

[Raoul Duke]

Most of my money is still right under yours, no worries  He said we could game however we want though right? I figure I can get those two accounts in between up to that amount, one of them is the 4300 percent one. I've never seen an investment structure like this; its hilarious and really creative. it's definitely paying off for him. Kudos to that guy

Sure you can game however you want. No hard feelings here.
I was just telling you something you probably didn't knew: that you need to reach at least 1 BTC in rewards to get your money out.

I agree that it's a really creative way to fund a mining OP.
Also, we may all be waiting 2 years or double that to get our full rewards back

[pyramining]

I was just telling you something you probably didn't knew: that you need to reach at least 1 BTC in rewards to get your money out.

If your reward is less than 1BTC, it gets paid out as soon as complete. If your expected reward is higher, you will get paid each time your balance goes over 1BTC.

Also, we may all be waiting 2 years or double that to get our full rewards back

I can't tell exactly how much time is needed to get full rewards but a reasonable time is between 6 to 10 months.

In the FAQ section it is reported the current price per GH/s, actually is around 145 bitcoin. Do your math.

[Raoul Duke]

I was just telling you something you probably didn't knew: that you need to reach at least 1 BTC in rewards to get your money out.

If your reward is less than 1BTC, it gets paid out as soon as complete. If your expected reward is higher, you will get paid each time your balance goes over 1BTC.

Thank you for clearing this up for me as I didn't understood it that way when reading the F.A.Q.

Also, we may all be waiting 2 years or double that to get our full rewards back

I can't tell exactly how much time is needed to get full rewards but a reasonable time is between 6 to 10 months.

In the FAQ section it is reported the current price per GH/s, actually is around 145 bitcoin. Do your math.

I suck at math. The only math operation I can do properly is counting the money on my wallet

[eliale]

Do you do daily distribution?  I noticed yesterday  it was made around 19:16 uct


http://www.pyramining.com/referral/7pkr3m8tz

[pyramining]

Do you do daily distribution?  I noticed yesterday  it was made around 19:16 uct

Distribution of revenues is done everytime more than 1 BTC are available.

Mining is done mainly with P2Pool, it means that when a block is found, it needs 120 confirmations before it gets credited. Moreover in the past days there was only a little hashing power working for pyramining, and yesterday was a day with bad luck on p2pool, so probably today there will be just one distribution.

Since hashing power has been increased consistently, in the next few days you will see redistributions much more often.

[Sukrim]

In the end you only charge half of the other mining operations around (typical price for 1 MH/s bonds = 30 bitcents), but considering the cap on payouts/dividends which is quite high I guess it levels out a bit...

Interesting idea for funding a mining operation though - I personally would love to see some hard facts + statistics backed by blockchain transactions, maybe like bitcoinpyramid.com.

[pyramining]

In the end you only charge half of the other mining operations around (typical price for 1 MH/s bonds = 30 bitcents), but considering the cap on payouts/dividends which is quite high I guess it levels out a bit...

The key is lower hardware costs per MH/s. It means faster payout, which allows for better profit. And I wanted to do something innovative.

Interesting idea for funding a mining operation though - I personally would love to see some hard facts + statistics backed by blockchain transactions, maybe like bitcoinpyramid.com.

I am already working to add more stats, and in the next few days you will be able to see them. Until then, you can get feedback by current users.