Topic: [ANN] [LTC] PYRPXYLTC - Pyra-Proxy LTC Mining Fund (Read 3102 times)

wtf ?
Sell orders (LTC)
999,999,999.000000   1   999,999,999.000000

sadly not yet, I'm keeping watch on the forums regularly for news.  I don't think anything mallicious is taking place and tend to favor that this may just be due to pyramining working with new hardware vendors etc. but I have not heard anything for some time as to the current status.

any news ?

So looking back at the transaction history...

The last payout was on 2014-01-13 from any account.  Rumor, since there has been no official statement from pyramining to my knowledge is that the existing hardware is now unprofitable so the cluster has been shut down and all new deposits are queued to new hardware.

The tier 3 account has about 0.2 BTC worth of payouts queued in it.
The tier 2 account has about 0.12 BTC worth of payouts queued in it.
The tier 1 account has about 0.25 BTC worth of payouts queued in it.
Total queued is about 0.57 BTC queued for new hardware.  (This will equate to an estimated ~50 GH/s addition to our accounts if the new infrastructure stat is correct)

I can only hope that this new hardware brings these accounts good, since BTC price has risen dramatically since these deposits were made there is still hope that profitability is still possible.  If pyramining goes defunct then well... let's not hope that happens as my investment in these funds as well as my personal investments has a many thousands of dollars in a loss....  Not going to lie here, with pyramining not saying anything in a long time and payouts essentially halted it seems for a couple weeks now I'm concerned for the health of these funds and the solvency of the invested BTC...  All I can suggest is to try and reach out to pyramining directly for info as to the status/future of the pyramining system.  The last official statement I saw was regarding a mid/late January deployment of much better hardware and a significant amount of it but I've seen no update regarding how that plan is proceeding.

Currently that is correct, I will go look and get back to you, admittedly it won't be much because payouts are so slow these days even with significantly reduced payout thresholds.  (And I'm still hashing out a new prospectus for vote on soon to help diversify out of pyramining to more liquid funding options with a speedier ROI)

So 90% of the Pyramining payouts are reinvested in Pyramining?  If so how much BTC does the fund have in the current Pyramining 28nm pre-order hold?

I'm working on a new prospectus for the funds to diversify mining out of just pyramining investments since it has been so slow and not yielding desirable return timelines.  This will likely be up for voting around the upcoming holiday break.  If you have any ideas for inclusion into a new prospectus, please throw some out here.  Financially we have no losses or anything it's just our return rate has been stretched so that I can't award dividends at a desirable rate currently.  If you browse the pyramining accounts you can easily see what assets we are in control of.  The obvious benefit of the slow return is that with the increasing values of LTC the fiat value of the current fund owners has increased significantly.

What are you planning? What is the financial status of the project?

Vote on that was already in place.  I'll be checking the results early next week.

Maybe it's time to close the project.

New vote issued reflected unsatisfactory performance of this funds holdings, the vote text was clipped on cryptostocks but the following is the text in it's entirety:


If nothing is improved on our current holdings the sad truth is that it could be in excess of 10 years just to reach basic break even on our fund (sadly it is my opinion that this may be optimistic at this point given the developments within the bitcoin mining ecosystem if there is no major shake-ups with our current investment vehicle)

Good news for investors, although need to figure out the best course of action as the prospectus was based on full btc payments but we should get payouts a little more often now, just smaller amounts and all of the funds should be eligible for payments soon. I've already posed the question about when this change starts.

See https://bitcointalksearch.org/topic/m.1970065

When will asic?

Not really, investment in this fund has pretty much stood still since ltc price skyrocketed but we're not too far from first dividends, when pyramining implements its asics (soon) this fund will be in really good shape and should start getting dividends much quicker.

Something new?

Congrats LTC proxy pyramining miners, first BTC moved from Tier 4 to Tier 3 of your chain (and the first movement of the 3 available but DVC is close behind).  If you maintain the order ( 4 --> 3 --> 2 --> 1 ) the first dividends paid out will be at the higher rate described in the fund overview and it's looking very positive that will be the case in this investment (also there is a very low chance that a payout will become an asic pre-order in an above tier which will break the chain briefly stalling the higher dividend rate since those funds are stalled until asic mining is released in pyramining which upon the latest news is looking to be in the next couple weeks anyway so no real loss there).  Ultimately it may mean that a little bit of the "working" coins may shrink for a bit since the higher payout rate anticipates all coins going through all tiers but it will be negligible and grown back over time.  Also to note dividends are paid when the tier 1 accounts pay out as that is when funds are available for dispersion and reinvestment as per the fund description.

You can see the movement here:
Tier 4: http://pyramining.com/account/browse?id=b8f7kqyr
Tier 3: http://pyramining.com/account/browse?id=q2d8egba  (Noting the ~1 BTC bump up from the standard ratios)

This vote passed and we have deposited the 10 BTC ASIC deposit to secure the pyramining enhancement as described on the third tier deposit address.  Standard deposit schedules will resume now.

This will give us pyramining enhanced mining off of both the 4th and the 3rd tier so all the benefits will be seen in our entire chain, at about these ratios:

Tier 1 - 7.5% boost from pyramining enhancement off tier 3
Tier 2 - 7.5% boost from pyramining enhancement off tier 3 + 7.5% boost from pyramining enhancement off tier 4  (approximate 15% based on nearly identical sized deposits)
Tier 3 - 15% boost from pyramining enhancement off tier 3 + 7.5% boost from pyramining enhancement off tier 4 (approximate 22.5% based on nearly identical sized deposits)
Tier 4 - 15% boost from pyramining enhancement off tier 4

https://cryptostocks.com/securities/23

New vote to add a pyramining enhanced 10 BTC value asic prepurchase to the 3rd tier LTC mining chain before resuming the standard deposit plan.

Vote passed this weekend and we hit the outlined 10 BTC threshold so have made a 4th tier asic prepurchase.  With this pyramining will add a supporting asic deposit referred from here as well to increase even higher the hash power of this chain of accounts.