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May 01, 2013, 09:00:46 PM |
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I deposited 0.11 BTC of my first mining stuff from late March into here, beginning of April. Here are the facts:
You have to deposit at least 0.1BTC. They payout reward only in multiples of 1 BTC. The profit you get on a regular basis (daily) is not DRIP (dividend reinvestment plan) lumped back in with your deposit, to make you able to earn back slightly faster... its held aside in a separate, not "invested" line item. So, you only make profit on your initial investment, not on the funds which you receive as profit from the investment while waiting for them to hit the payout marker.
You can not withdraw your original investment. Once its there, its sunk in.
The time to payback on 0.11 BTC, without anyone signing up under you, is 52 months (4 years, 4 months). However, what that means is that after 52 months, you will get 0.11 in your "reward" line item. 0.11 BTC is not enough to trigger the automatic withdrawl after 1.0 BTC, so... you're stuck waiting longer until it accumulates to 1.0 BTC... about 9 times longer, so about 39 years to get 1 BTC off of a deposit of 0.11 BTC.
Now, you can deposit, following their rules, into the ASIC miner fund (something that is 8 digits long and ends in 1111.) You will not get any return off it yet, as they are still waiting to purchase ASIC miners ["ASIC infrastructure is not available right now", FAQ page].) That will theoretically make return on investment faster, but will still be many months of not being able to touch your original funds OR the reward funds.
If you have to wait 52 months to make a 100 percent return, with no compounding, thats a return of a little less than 2 percent per month. Its made worse by not being able to even withdraw your original deposit during that whole time. If you deposit that same money in a dividend fund on BTCT, or trade it smartly on exchanges, or follow Goomba's 10/21 trading listed here on forums, not only can you get a better return than 2 percent a month, but you can actually pull out your money whenever. With Pyramining, its locked up for 5 years.
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