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

[pyramining]

If someone deposits 1BTC how long will it take for them to be repaid?

The same time needed to repay 0.1, 10 or 1000 BTC, which is currently estimated in 8 months (9 considering your bonus).

If you find some referrals, the time needed becomes shorter.

[1713571386]

1713571386

[btcftw]

Just wanted to say it's incredible to be able to see the changes to infrastructure happen in one day with no interruption to the service. Way to go pyramining!

Also, pyramining, I had a question about referral links: is there a chance that an account could have just one link, that unlimited amount of investors could join through? Or is this something that you intentionally designed like this to prevent abuse?

I think you mentioned that for now funds are just added up when deposited, but in the future when new funds are deposited they will be put into a separate (parallel) account. How would that work? And if I intend to reinvest part or all of my pyramining payouts back into my accounts, will it be practical to do with the new infrastructure or will it be better to deposit larger amounts?



Here are my links:
http://www.pyramining.com/referral/ckmszqaxy    2012-06-04 19:33:04 UTC    2012-06-10 13:53:47 UTC
http://www.pyramining.com/referral/eksc9g4qz
http://www.pyramining.com/referral/c3mta9enr
http://www.pyramining.com/referral/zck9qnr72
http://www.pyramining.com/referral/zdq7kn4x3
http://www.pyramining.com/referral/q9aetd8np


P.S.: the person who joined through my link is welcome to PM me about the avatar I mentioned in an earlier post

[pyramining]

Just wanted to say it's incredible to be able to see the changes to infrastructure happen in one day with no interruption to the service. Way to go pyramining!

Pointing new miners to a Pyramining address is not much work. Last week I had to upgrade the server and I caused at least 20 minutes of down-time (only to the web interface, mining equipment was working correctly).

Also, pyramining, I had a question about referral links: is there a chance that an account could have just one link, that unlimited amount of investors could join through? Or is this something that you intentionally designed like this to prevent abuse?

I intentionally designed links to expire. There are several reasons for this, for example, it wouldn't be nice if someone posts a link in a "lucky" place that comes out as the first link on a google search: he would get a lot of referrals while others not. Another reason is that it would be a waste of resources if someone posts a link somewhere, his account gets completely rewarded (and then inactive until he deposits again) and he still keeps getting referrals without gaining anything from them due to the "inactive" status of his account. I think that this way is better, everyone has to actively "grow" his referrals portfolio, keeping an eye open on what happens.

[btcftw]

I intentionally designed links to expire. There are several reasons for this, for example, it wouldn't be nice if someone posts a link in a "lucky" place that comes out as the first link on a google search: he would get a lot of referrals while others not. Another reason is that it would be a waste of resources if someone posts a link somewhere, his account gets completely rewarded (and then inactive until he deposits again) and he still keeps getting referrals without gaining anything from them due to the "inactive" status of his account. I think that this way is better, everyone has to actively "grow" his referrals portfolio, keeping an eye open on what happens.

Ok, cool. your reasoning is to my liking

[Smoovious]

Perhaps be able to log into our account and set an email address for notification? (since we can't change anything anyways, I don't see a risk to this)

Then, if there is an issue with one of our accounts, you know how to get a hold of the person linked to that account, and if one of our referral codes gets used, we could get a notification of that too, and can cross it off of our list?

-- Smoov

[pyramining]

Perhaps be able to log into our account and set an email address for notification? (since we can't change anything anyways, I don't see a risk to this)

Then, if there is an issue with one of our accounts, you know how to get a hold of the person linked to that account, and if one of our referral codes gets used, we could get a notification of that too, and can cross it off of our list?

it's something I have considered, but it requires a tool to verify emails (in order to not abuse the feature for sending trash mail to a victim, investing 0.00001 BTC per account), and for sure someone will change his email account / lose his password / anything, and if there is not a way to modify it, I am sure I will receive requests to do it manually...

[pyramining]

I don't know if it's worth to mention, but on the roof of the facility that hosts Pyramining there is a PV plant (PhotoVoltaic) of 70KWp, producing a bit more than 60000 kW/h per year . It has been installed previously for other reasons, and doesn't feed equipment directly but injects power into the grid. Pyramining is consuming actually ~25000 kW/h per year, and the whole infrastructure (that exists beside Pyramining) is still under 60000 kW/h per year, so actually I can say it's running on green power.

http://pics.agaland.it/~pyramining/photo/photo_thumb.php?dir=505620706c616e74

It's password protected, password is:   sunpower!

If Pyramining will keep growing at this pace, this plant will not be enough to support it completely. In order to prevent pollution, I will take actions to expand it by installing PV cells over other buildings. I can't guarantee that Pyramining will always run only on green power, but I will do my best efforts to try.

[btcftw]

I don't know if it's worth to mention, but on the roof of the facility that hosts Pyramining there is a PV plant (PhotoVoltaic) of 70KWp, producing a bit more than 60000 kW/h per year . It has been installed previously for other reasons, and doesn't feed equipment directly but injects power into the grid. Pyramining is consuming actually ~25000 kW/h per year, and the whole infrastructure (that exists beside Pyramining) is still under 60000 kW/h per year, so actually I can say it's running on green power.

http://pics.agaland.it/~pyramining/photo/photo_thumb.php?dir=505620706c616e74

It's password protected, password is:   sunpower!

If Pyramining will keep growing at this pace, this plant will not be enough to support it completely. In order to prevent pollution, I will take actions to expand it by installing PV cells over other buildings. I can't guarantee that Pyramining will always run only on green power, but I will do my best efforts to try.

All I can say is That is inspiring! ))

[Urdawg]

Thank you for using my links!

http://www.pyramining.com/referral/3p26hbemn
http://www.pyramining.com/referral/94rqe7sy2
http://www.pyramining.com/referral/ey36cgd9m
http://www.pyramining.com/referral/2hyqr834e

[fankih]

Thumbs up for the green power!

In which country this pyramining is having it's equipment at?

-fankih-

[pyramining]

In which country this pyramining is having it's equipment at?

It's located in Italy.

[eliale]

Useful services for Pyramining by The Rock Trading:

Insurance:  Ask for one of our referral at info @therocktrading.com and we will grant you insurance coverage for your investment at no additional costs

Buyback:  Do you want to get out prematurely from Pyramining?  Ask for information about it and we will make you an offer

Bonds: Would you like to invest in Pyramining but you need to have the flexibility to get out any moment you like?  You can buy our Fixed return bonds ( 1% monthly return) at https://www.therocktrading.com/funds/15 and be able to trade them on our 24/7 platform.

Please note: only 1000 bonds are issued at IPO price of 1 Bitcoin each.  Please, read our forum section for further news and information

Thank you!

[IluhaHA]

I hope, that your work will be long-term, after payment of the loan to the investor I shall be put in your business. Success
 i have bad eng))

[btharper]

I've thrown in a very small amount because I like the idea, though I had a few questions as well.

What's your lead time for adding new hardware once the BTC are added to pay for it?

Do you mind disclosing how much hashing power you have on reserve for new accounts, in terms of hashing power or deposit amount?

I saw psy mentioning his bonus going down as he added to his initial deposit, what specifics are you willing to provide about how and when the bonus declines?

[Raoul Duke]

I saw psy mentioning his bonus going down as he added to his initial deposit, what specifics are you willing to provide about how and when the bonus declines?

The percentage went down ofcourse. The monetary reward went up.
Even after going down I still get 4000% of 10 BTC lol

[pyramining]

What's your lead time for adding new hardware once the BTC are added to pay for it?

I try to keep enough reserve, and I add it daily. In case deposits exceed available reserve, it may take as long as 1 month and 2 weeks (time required from the ordering of components to have new hardware delivered) to be put in production.

In case such a thing should happen, after the new hardware is ready, I would temporarily add some extra hashing power in order to make up for the delay.

I do the same when situations like what p2pool is experiencing (see statistics): its effciency is actually 46% but since me and some other Pyramining members want to support P2Pool, instead of pointing all the miners to a PPS pool, I will add some extra hashing power until revenues get aligned to the expected rate, when the 120GH/s batch will be delivered.

Do you mind disclosing how much hashing power you have on reserve for new accounts, in terms of hashing power or deposit amount?

When I started the project around 10th of May, I had 25GH/s available and 40GH/s already ordered.
Pyramining is receiving a lot of members and deposits and actually the reserve is almost exhausted.
There is an order for 120GH/s that should be ready within 2-3 weeks.

I saw psy mentioning his bonus going down as he added to his initial deposit, what specifics are you willing to provide about how and when the bonus declines?

The bonus % gets smaller because it's calculated on your deposit amount, but your "absolute" earnings don't decline. I already explained how bonus is calculated, however I  am posting it again, it is:

initial_bonus + ((sum_of_referral_deposits / your_deposit) / 10)

so, let's do an example:
you join through referral and deposit 10btc: bonus is 10%, you will get 11btc.
you get two referrals which deposit 5btc each: bonus is 20%, you will get 12btc.
you further deposit 10btc: bonus drops to 15%, you will get 23btc.

now let's do another example:
you join through referral and deposit 20btc: bonus is 10%, you will get 22 btc.
you get two referrals which deposit 5 btc each: bonus is 15%, you will get 23 btc.

as you can see, it is the same.

Hope it's clear enough, should you have any doubt just ask.

[Urdawg]

Here are some more links for 10% bonus!

http://www.pyramining.com/referral/m4es8pzat
http://www.pyramining.com/referral/3p26hbemn    
http://www.pyramining.com/referral/94rqe7sy2

Thanks

[gweedo]

Just started another round so get your 10%


http://www.pyramining.com/referral/p3z67mhg8
http://www.pyramining.com/referral/329b84tfg   
http://www.pyramining.com/referral/cr8bph7ks
http://www.pyramining.com/referral/4x2fptrhq
http://www.pyramining.com/referral/y2r9df73g

[btharper]

The bonus % gets smaller because it's calculated on your deposit amount, but your "absolute" earnings don't decline. I already explained how bonus is calculated, however I  am posting it again, it is:

initial_bonus + ((sum_of_referral_deposits / your_deposit) / 10)

so, let's do an example:
you join through referral and deposit 10btc: bonus is 10%, you will get 11btc.
you get two referrals which deposit 5btc each: bonus is 20%, you will get 12btc.
you further deposit 10btc: bonus drops to 15%, you will get 23btc.

now let's do another example:
you join through referral and deposit 20btc: bonus is 10%, you will get 22 btc.
you get two referrals which deposit 5 btc each: bonus is 15%, you will get 23 btc.

as you can see, it is the same.

Hope it's clear enough, should you have any doubt just ask.

Thanks. I wasn't able to find this before, though it wasn't the first thing I had been looking for. Maybe something useful to add to the primary post?

Do you not get anything for second level referrals then I'm assuming?

[bravetheheat]

The bonus % gets smaller because it's calculated on your deposit amount, but your "absolute" earnings don't decline. I already explained how bonus is calculated, however I  am posting it again, it is:

initial_bonus + ((sum_of_referral_deposits / your_deposit) / 10)

so, let's do an example:
you join through referral and deposit 10btc: bonus is 10%, you will get 11btc.
you get two referrals which deposit 5btc each: bonus is 20%, you will get 12btc.
you further deposit 10btc: bonus drops to 15%, you will get 23btc.

now let's do another example:
you join through referral and deposit 20btc: bonus is 10%, you will get 22 btc.
you get two referrals which deposit 5 btc each: bonus is 15%, you will get 23 btc.

as you can see, it is the same.

Hope it's clear enough, should you have any doubt just ask.

Thanks. I wasn't able to find this before, though it wasn't the first thing I had been looking for. Maybe something useful to add to the primary post?

Do you not get anything for second level referrals then I'm assuming?

Nah - if one did, then my bonus would be in the hundreds of percent rather than the measly <15% it is now.