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

[naz86]

I'm in

http://www.pyramining.com/referral/zydft2rq3       2012-06-06 14:09:08 UTC    still active
http://www.pyramining.com/referral/brpn8ya4h      2012-06-06 14:09:08 UTC    still active
http://www.pyramining.com/referral/8pbfmhync     2012-06-06 14:09:08 UTC    still active
http://www.pyramining.com/referral/senh7t3b9      2012-06-06 14:09:08 UTC    still active
http://www.pyramining.com/referral/cp9bqzs6e      2012-06-06 14:09:08 UTC    still active

[Raoul Duke]

For those customers which will eventually needs to get out prematurely for personal reasons, please contact us at: info @therocktrading.com

We will buy your outstanding balance for a fee.

Also, do not forget to ask a referral number to us in order to get insured at no cost and no risk for you!

Thank you!

How will you acomplish that if you can't change payout addresses?

[eliale]

I cannot change the payout address.

Pyramining needs to do it with the account holder authorization.

[Raoul Duke]

I cannot change the payout address.

Pyramining needs to do it with the account holder authorization.

I have a silly question:  Is there any way to tranfer ownership of an account?  I have an account and may want to sell it to someone.  Is there any way to do that?

No, it is not possible: for security reasons, accounts can't be modified, therefore there is no way to modify a "payout address".

Are you more special than BurtW, eliale?

[pyramining]

Changing of the payout address is very delicate. I had a talk with Eliale who proposed this service of "buying" the outstanding position.

It could be done under the following conditions:

1) The owner of the account should contact Eliale and negotiate about the "exit fee".
2) Both the owner of the account and Eliale need to contact me.
3) The outstanding amount would be sent by Eliale ONLY to the payout address originally specified in the account, and not to any other address.
4) When I see the transaction in the blockchain (Eliale -> original account payout address), I can change the account original payout address to an address given by Eliale (I met him personally, and he can be trusted).

I support Eliale proposal only because actually there is no way to "get out" of pyramining earlier. If he is available to offer such a service, it might be interesting for members.

This is an additional "feature", nobody is forced or encouraged to use it, unless he wants to quit pyramining earlier.

[eliale]

Lucky day today!

Second time I got a reply which describes properly the idea.

Thank you!

[Smoovious]

Lucky day today!

Second time I got a reply which describes properly the idea.

Thank you!

Yeah, how messed up is that! Twice in the same day. That just doesn't happen.

Should mark it on your calendar, and have an anniversary party next year to remember this day.

-- Smoov

[btcftw]

Would you (pyramining) eat the cost incurred by quitters? Or will this be covered in the exit fee? Or will we simply see the "equivalent Hashing Power" drop?

What is the worst case scenario under which you (pyramining) will still generate profit?

[pyramining]

Would you (pyramining) eat the cost incurred by quitters? Or will this be covered in the exit fee? Or will we simply see the "equivalent Hashing Power" drop?

What is the worst case scenario under which you (pyramining) will still generate profit?

Pyramining doesn't support "quitting", I am just considering an agreement with "The Rock", which is a separate independent company.

The cost incurred by "quitters" is "eaten" by The Rock (Eliale), who becomes the owner of the position previously open by the quitter. On the Pyramining side nothing would change, the account remains active with its owner replaced.

Equivalent Hashing Power doesn't drop, and nothing changes to other members.

The only case scenario that is coming on my mind, under which Pyramining could not generate profit anymore, is where for an unexpected natural disaster all the equipment gets destroyed. I think that the chances are _extremely_ low.

If Pyramining business will grow big enough, I will geographically distribute all the mining resources to further reduce those risks.

[btcftw]

Would you (pyramining) eat the cost incurred by quitters? Or will this be covered in the exit fee? Or will we simply see the "equivalent Hashing Power" drop?

What is the worst case scenario under which you (pyramining) will still generate profit?

Pyramining doesn't support "quitting", I am just considering an agreement with "The Rock", which is a separate independent company.

The cost incurred by "quitters" is "eaten" by The Rock (Eliale), who becomes the owner of the position previously open by the quitter. On the Pyramining side nothing would change, the account remains active with its owner replaced.

Equivalent Hashing Power doesn't drop, and nothing changes to other members.

The only case scenario that is coming on my mind, under which Pyramining could not generate profit anymore, is where for an unexpected natural disaster all the equipment gets destroyed. I think that the chances are _extremely_ low.

If Pyramining business will grow big enough, I will geographically distribute all the mining resources ro further reduce those risks.

Thanks for clarifying. Makes sense.

[Raoul Duke]

OK, eliale, how much do you give me for my account?
http://www.pyramining.com/account/browse?id=s9q3bxy8

[eliale]

OK, eliale, how much do you give me for my account?
http://www.pyramining.com/account/browse?id=s9q3bxy8

Hello Psy,

Nice wallet ! I’m glad to be one of your referrals! 

As far as your request, even though I’m aware it is your wallet, we still need to follow Security protocol.

1)   I need to receive via Mail your unique deposit address in order to login and certify you are the account holder.  As you know it is a safe procedure to do it because I cannot change anything.
2)   We will make a proposal to you which, if accepted, will have to be notified to Pyramining from both of us
3)   The Rock will transfer amount agreed to your payout address only.  No exceptions
4)   Pyramining, checking the transfer and the amount, will modify payout address

Thank you!

[Raoul Duke]

OK, eliale, how much do you give me for my account?
http://www.pyramining.com/account/browse?id=s9q3bxy8

Hello Psy,

Nice wallet ! I’m glad to be one of your referrals! 

As far as your request, even though I’m aware it is your wallet, we still need to follow Security protocol.

1)   I need to receive via Mail your unique deposit address in order to login and certify you are the account holder.  As you know it is a safe procedure to do it because I cannot change anything.
2)   We will make a proposal to you which, if accepted, will have to be notified to Pyramining from both of us
3)   The Rock will transfer amount agreed to your payout address only.  No exceptions
4)   Pyramining, checking the transfer and the amount, will modify payout address

Thank you!

Why oh why do I come to the forum while drunk 

[JayCoin]

What is the pyramining p2pool address? This way we can see how much of our hashrate is going to p2pool.

[pyramining]

What is the pyramining p2pool address? This way we can see how much of our hashrate is going to p2pool.

I am using several addresses (each pool of miners has it's own). If you see your payout transactions you should be able to go back to which p2pool address generated it. I am also planning to publish more statistics on the site about mining revenues and transactions, but I am not sure yet if it's wise, I have to consider all the aspects (I am also considering to not display the total hashrate). I wouldn't want to attract hackers attention (even if there is not much to hack here, the wallets are offline and payouts are made everytime in a given account there is more than 1 BTC)...

A discussion about this is appreciated, with considerations about security vs transparency.

[eliale]

Get a good all risk insurance.

You do have quite a value over there! 

[yo-blin]

I think it's unfair play.
We buy the infrastructure for you.
Do we get 10% if you do not play in referrals.
I think we should have a piece of property.

[Smoovious]

I think it's unfair play.
We buy the infrastructure for you.
Do we get 10% if you do not play in referrals.
I think we should have a piece of property.

I tend to think of it more as a loan, which you get paid back with bonus(interest).

Ya want ownership of sorts, you're better off investing in stock in a mining company.

-- Smoov

[pyramining]

I think it's unfair play.
We buy the infrastructure for you.
Do we get 10% if you do not play in referrals.
I think we should have a piece of property.

1) Infrastructure bought through Pyramining deposits remains allocated to Pyramining until it breaks up.
2) You get your capital back plus 10% earnings in 10 months or less. Try to buy hardware for mining by yourself and tell me when you break-even.
3) Infrastructure is totally managed, you have to do NOTHING at all. I am doing a lot of efforts to produce the hardware at the lowest possible cost, assemble the rackmount units, configure and maintain all the servers, replace failed units, maintain the datacenter and the internet connection, supplying electric power, and keeping the whole thing highly profitable for members. I keep only the 0.5% on payout transactions and Bitcoin transactions are paid by me. And in case of accounts with a deposit of 0.001, the payout transaction will cost far more than the 0.5%.

My real "profit" is that doing quantity orders, I can buy my private infrastructure (using MY funds) at a better price. Creating Pyramining allowed me to reach my target and at the same time giving an useful and profitable service to everyone supporting this idea.

If you can do it better than me, and offer in addition a piece of property, just do it, I am sure you will gather a lot of members.

Last but not least, if you find it unfair, you are not forced to partecipate.

[yo-blin]

2) You get your capital back plus 10% earnings in 10 months or less. Try to buy hardware for mining by yourself and tell me when you break-even.

standart BitForce Single from butterflylabs cost ~ 120 btc
he get about 0.5 btc/day
break-even = 120/0.5 = 240 day without electric pay