Topic: [ANN] [LTC] PYRPXYLTC - Pyra-Proxy LTC Mining Fund - page 2. (Read 3102 times)

New vote issued:  https://cryptostocks.com/welcome/news

Regarding pyramining announcement:  https://bitcointalksearch.org/topic/m.1314762

The long story was because its hard to say really... I mean with no new deposits, and taking out the impact of funds moving from 1 tier to the next and not accounting for the asic migration we would be looking at a little more than 200 days... BUT we just got a new deposit which nearly fills up the fourth tier in the first round of seeding, with 1 more btc worth of ltc it will be topped off and the next btc will go into the first Ltc tier essentially doubling its direct mining capability.

If I were to take a semi educated speculative stab/guesstimate I'd say around the end of November but faster each time after that.

When is the first Pyramining payout expected?

Within 48 hours of pyramining payouts...  current top tier mined balance is about 0.04 but its getting faster due to a recent share purchase which will allow about another 4 btc deposit in the fourth tier account.  LTC to date has had much slower acceptance, I.e. the DVC version already has 0.09 in the top tier and > 0.14 in each of the others and it was released just a couple ish days before.

Morale of the story... within 48 hours of pyramining payouts but I don't expect the first dividends all that soon until the account has built up a fair bit more deposited balance. 

An unstated goal has been to (excluding drastic swings in currency price and issuing no more shares on the market) build up about a 1k btc fund behind each version.  At current mining rates that would tick us off about 1 BTC every pyramining balance update, so about 2 or 3 times a day... this changes a lot when pyramining releases its asics I would imagine.

When are the first dividends due from this fund?

Here is the current ones off the 4th tier of the LTC fund.

http://pyramining.com/referral/zqtxb2grd
http://pyramining.com/referral/c9eh3bn4x

If for some reason you'd like a referral off a higher tier let me know.

The LTC one as that's my investment fund LTCI - https://bitcointalksearch.org/topic/ltc-global-ltci-litecoin-investment-fund-offering-micro-investing-114157 - is buying into.

I do just never posted them, if you would like one I'll send you one, just let me know which link in the chain you want to hang off of.

Do you have any referral links created from your stocks deposits into Pryamining?

We have now filled tier 3 of the first round of initial LTC investments and will be moving onto the 4th tier until the deposit ratios are as stated from which we will move onto the second round.

Thanks for the support and happy profiting all!

Note for auditing purposes: A ledger spreadsheet error was made, in which initial LTC investments were sent to the DVC pyramining accounts, this was resolved by adding my own personal BTC in excess of the initial LTC funds (by ~1 BTC over) to replace the loss, so shares purchased currently actually have a slightly higher investment ratio based on current market forces in the LTC accounts.  Additionally, the DVC fund will not be charged for this error as it was a *now fixed* clerical error and they will have a significantly higher investment ratio based on current market forces as I will take this as a personal loss vice trying to manage the accounting for proper recovery of the funds.

LTC funds will continue to be invested at the current ratios spelled out in the issuing description.  DVC funds will have advanced seeding into the Tier 1 to 3 accounts and will thus be seeded in the Tier 4 and Tier 3 accounts until the ratio has been returned to the expected values, from which normal seeding patterns will continue.

This represents no loss to constituent shareholders.

We finally met a deposit threshold to start seeding the project with. As promised for auditing purposes here is a link to the head of the LTC Pyra-Proxy Pyramining account: http://pyramining.com/account/browse?id=qxzh7cet Currently we fully seeded tier1 and tier2, we started seeding tier3 once each tier gets fully seeded at the ratio we will start the seeding again until all LTC Pyra-Proxy shares are sold.

Thanks for the support thus far and I hope this is a long and prosperous relationship for all of us!

Looks like pyramining has updated the stats output for the ASICs they are developing/adding, looks nice!  So in December/January ish your investment will certainly get a huge jump in value!  In comparison, that is about 1 BTC for just under the current performance of a BFL single FPGA.

We currently have some investors but not quite enough to start seeding this project's accounts, but not too much longer.  The DVC project has already gotten some seeding and it looks like it is getting the 11.71 MH/s rate applied so that's good news here as well when the LTC project starts getting seeded.

New project listed at https://cryptostocks.com
Direct url - https://cryptostocks.com/securities/23

DESCRIPTION:
The purpose of the Pyra-Proxy LTC project is to allow those parties interested in Pyramining and the health of LTC to pool their resources and create a conducive environment where they can enter and leave participation at will while still having the opportunity to participate in the pyramining model of mining.

Pyra-Proxy LTC will establish a permanent presence in the Pyramining ecosystem with appropriate reinvestment to maintain and marginally grow its stake while simultaneously providing maximum dividends to project constituents to keep the project viable.

INVESTMENT PLAN

Pyra-Proxy LTC will invest all resources into a 4 tiered Pyramining cluster to maximize reward and benefits from the Pyramining model. Investments will be adde in whole BTC increments. Initial resource induction will seed all 4 tiers at a ratio of 1:2:4:8 to maximize mining bonuses and speed the time when LTC purchases and dividends can be made.

Upon receipt of Pyramining payments the reinvestment and dividend take plan active at the time will be implemented within 48 hours.

The Pyramining top level account will be made public so that any participants or prospective participants can fully audit current and past performance as well as verify that the program is operating properly within the given charter.

REINVESTMENT AND DIVIDEND PLAN

90% of pyramining payments will be reinvested in the 4th tier as soon as the total is greater than 1 BTC 10% of pyramining payments will be redirected as a dividend take less 5% of the dividend take for administration fees, these will be paid within 48 hours of payment.

Non-voting planned adjustment to this structure immediately following the first pyramining payment received after 1 BTC has cascaded sequentially through each of the 4 tiers.

The new plan at this time will be 60% reinvestment into the 4th tier and a 40% dividend take less the 5% of dividend take for administration fees

All future amendments to this plan will require majority vote by the programs participants.

CURRENCY TRADING FOR PROFIT GENERATION

This program is not designed to reap gains through the currency trading between BTC and LTC and thusly will initiate the necessary trades at market value solely on the vircurex exchange unless that exchange chooses to cancel LTC BTC trading in which case another exchange will be voted upon by members

Trade announcements will not be announced in advance to protect the interest of program participants but will happen within 48 hours of pyraming payments or receipt of greater than 500 LTC of newly invested resources.

PROGRAM SOLVENCY

Pyra-Proxy LTC will remain viable so long as 3 environmental conditions are true. 1-Cryptostocks is active and allowing for continued operation; 2-Vircurex or some other web based secure exchange between LTC and BTC are viable with active trading; 3-Pyraming remains a viable mining operation.

In the event of a collapse of LTC or BTC and/or a failure of the conditions above, the administrators will attempt within reasonable power to proportionally disburse cryptocurrency units to the program participants as they become available with 0% reinvestment and 0% administration fee.