Looks like a scam to me.
I believed so at first, but I consider myself a entrepreneur, an like to investigate a little before investing. I read every post I find, and understand the idea, outsourcing mining power. I am not a technological person, I have not enough force to do the mining myself, and not the knowledge to invest in equipment and joining a pool. The game is WIN - WIN, Pyramining buys or develops technology for mining with what we deposit, we can win a lot more if we find new referals that deposit for buying more mining power. I made a very little deposit, bitcoins I earned free at Bitvisitor. It is not the best way, as I see no reward until all is complete. In my first acount I have deposited only 0.03005 btc, I have got a 3646.2% reward, since someone behind me deposited 10 btc, and other referals do some deposits too. I am at a global 8% reward, and that is 0.08495477 btc (I entered pyramining on 23/9) and I think I will aproximately get 0.9btc.
I know people that have got their rewards, and now I think is a very well planned thing.