Prefinem
Newbie
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Activity: 56
Merit: 0
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May 01, 2013, 01:16:32 PM |
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I am going to take the reply of nothing other than referrals as a scam.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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erpbridge
Legendary
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Activity: 954
Merit: 1000
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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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wildbud
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May 01, 2013, 09:56:31 PM |
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Has anyone actually recovered there costs from this yet?
I believe most of the people are investing in the ASIC side since normal investment seems pointless
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Prefinem
Newbie
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Activity: 56
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May 01, 2013, 11:02:22 PM |
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@erpbridge
Thanks for the breakdown.
In short, no.
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Narken
Member
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Activity: 112
Merit: 10
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May 01, 2013, 11:03:20 PM |
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Seems very fishy.
Anyone got anything yet ?
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Yes sir
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BobbyJo
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May 04, 2013, 10:14:58 AM |
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This is a decent investment plan and does really work. I have invested a lot of BTC here, and have more than broken even. From now on its pure profit!! It is easy to do, anyone can do it with any level of investment. Click on my links and you will see that this account is already in profit and is less than 50% complete. I also have a number of additional accounts in a similar or better position. Now is the time to get involved as he is deploying ASIC (hopefully in the next few weeks) which will dramatically reduce payout times. Minimum payout has been reduced to 0.1 BTC, so payouts are much more regular now. If you join and deposit via one of my links, PM me and Ill explain how to maximise your return in the shortest possible time and allow you to position yourselves for the ASIC deployment.
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bitsuser
Newbie
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Activity: 6
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May 04, 2013, 07:56:13 PM |
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good
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liberty90
Member
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Merit: 10
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May 04, 2013, 11:25:20 PM Last edit: May 05, 2013, 12:50:37 AM by liberty90 |
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Looks like a scam to me.
It's not a scam. Pyramining is very reputable; you should read their discussion thread. it's rather slow, but ASICS will be introduced soon http://www.pyramining.com/referral/mk48qszhe http://www.pyramining.com/referral/npgfxe9qtAnyone got anything yet ?
Of course. You can read about this in another thread: Since the bitcoin value is noticeably higher than when Pyramining started, the payout threshold has been lowered to 0.1 BTC.
Since the bitcoin value is noticeably higher than when Pyramining started, the payout threshold has been lowered to 0.1 BTC.
Oh, this is excellent news. Thank You very much. Cool. I got the payouts today...
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hitkill
Newbie
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Activity: 9
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May 08, 2013, 10:02:40 AM |
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Please consider helping a newbie Smiley
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JackMack96
Newbie
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Activity: 20
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May 12, 2013, 05:40:47 PM |
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PlatinSurfer90
Newbie
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May 18, 2013, 07:24:45 PM Last edit: May 20, 2013, 11:46:56 AM by PlatinSurfer90 |
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Hi,
today is 18.05. but I got my last transaction on 15.05.
Is there a problem or is it normal?
thanks --
EDIT: today (20.05.) I got my transaction for the last days but in sum not that much like in an avarage day
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Maikfield
Newbie
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May 26, 2013, 09:40:59 AM |
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laikig
Newbie
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May 31, 2013, 10:46:43 AM |
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That's the hash rate of the new infrastructure that Pyramining is getting
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ilich
Newbie
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June 01, 2013, 10:28:38 AM |
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fr00p
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June 04, 2013, 10:42:03 PM |
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