[CRYPTOSTOCKS] PYRPXYBTC - Pyra-Proxy BTC Mining Project

pyra-proxy

hero member

Activity: 490

Merit: 500

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:

Quote

Hash rate vs. bitcoin network difficulty is going in a very adverse direction for this fund. This initial vote is to determine shareholder sentiment regarding how to approach this issue. Should this fund continue with the current investment outline as stated in the prospectus (Yes)? Or should we change course (No)?

Should we decide to change course another vote will be issued following this to begin diversifying into other investment vehicles or seek to dissolve this fund at the earliest opportunity?

This vote is motivated primarily by the poor performance of this funds investment and the direction which future investment returns are getting longer and slower than was expected. Outstanding shares will not be re-released to the market until these decisions have been made.

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)

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: rlh on October 02, 2013, 10:38:59 AM

I can never keep track of how to follow this. When can we expect the next dividend?

*I've not paid attention to Pyramining in months.

Why "invest" in things you don't know how to track and which can't hold your attention? It's not merely that you're risking your own btc, you're also adding to the general deluge of the uninformed and unmotivated misrepresenting themselves as "investors" "involved in bitcoin". There's less demanding stuff you can do, y'know.

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: rlh on October 02, 2013, 10:38:59 AM

I can never keep track of how to follow this. When can we expect the next dividend?

*I've not paid attention to Pyramining in months.

When the exiting tier crosses a full BTC payout. So in about 0.4 BTC more reward, then the fund will reinvest 0.6 BTC, and pay 0.4 BTC less fees as dividend. Rate of return is speeding up since pyramining has begun deploying asic hardware and all of this funds deposits have been activated.

rlh

hero member

Activity: 804

Merit: 1004

I can never keep track of how to follow this. When can we expect the next dividend?

*I've not paid attention to Pyramining in months.

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: pyra-proxy on July 17, 2013, 11:32:16 AM

Quote from: ninjaboon on July 17, 2013, 10:38:09 AM

Is your ASIC deposits online yet?

Not yet I just checked, hopefully soon as there has been 200 GH/s added to the pool already from ASICS and I'm pretty sure we got in somewhat early in the list....

Good news! This fund now has activated ASIC deposits. Only about half of the asic deposits are activated at the moment but we are already up an extra GH/s so expect returns to start increasing greatly in frequency!

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: ninjaboon on July 17, 2013, 10:38:09 AM

Is your ASIC deposits online yet?

Not yet I just checked, hopefully soon as there has been 200 GH/s added to the pool already from ASICS and I'm pretty sure we got in somewhat early in the list....

ninjaboon

legendary

Activity: 2128

Merit: 1002

Is your ASIC deposits online yet?

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: ninjaboon on October 27, 2012, 07:57:01 PM

Hi Pyra-proxy, when will you declare dividends for this stock?

This one has been the only one to get it so far, right now I have a partial dividend waiting to release... since pyramining lowered their payment threshold I had to hold the minute payouts until the prospectus described dividend payout is reached, we only need another 0.1 or 0.2 btc payout to be ready for the next dividend. The alternative is to pay based on each 0.1 payout but the dividend reward would be demoralizingly low I thought which seemed counter-productive. The original prospectus outline is based on whole btc payouts and investments so I had some turmoil to address in how to handle pyramining's decision to reduce the payout threshold to 0.1 BTC (which was only done as an interim measure given the slow rate of return until they deploy asics from how I understand it)

At the pyramining BTC link above when "Rewarded amount: 1.85515074" gets to >= 2.0 I plan on releasing the next dividend.

The hang-up with all pyramining is that asics have made it so pyramining rewards return very slowly now (even with the reduced payout ratio), pyramining is actively working on their own asic production and seeking asic alternatives in the interim to speed up asic deployment. This is what is very much needed to get dividends flowing quicker and more consistently.

rlh

hero member

Activity: 804

Merit: 1004

He man. What's going on with this security? Just curious.

pyra-proxy

hero member

Activity: 490

Merit: 500

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

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: rlh on January 18, 2013, 02:18:58 PM

Could we get an occasional update on how much BTC is invested in which Tiers?

You can see the tier 1 here as they are "normal deposits" http://pyramining.com/account/browse?id=scpk9az3

The remaining tiers are as follows:
Teir 2 - 20.00003333 BTC (3 Asic deposits which are 'inactive' until asics are deployed)
Tier 3 - 13.28021111 BTC (1 Asic deposit when funding for the pyramining matching)
Tier 4 - 11.18301111 BTC (1 Asic deposit when funding for the pyramining matching)

Our current Tier 1 reward to date is 0.87309991 so we are getting really close to paying out first dividends, this fund however will still be rewarding at the initial "growing" rate as outlined in the fund description until there is sequential rewards flowed down from Tier 4 --> Tier 3 --> Tier 2 --> Tier 1 so that won't happen until after asics have been deployed.

rlh

hero member

Activity: 804

Merit: 1004

Could we get an occasional update on how much BTC is invested in which Tiers?

pyra-proxy

hero member

Activity: 490

Merit: 500

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.

https://cryptostocks.com/securities/24

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

Not to mention that we will have a significant asic deposit ready to go in all 3 of our tail accounts so should likely see very rapid payments when pyramining rolls out its asic infrastructure come Dec./Jan. timeframe-ish.

pyra-proxy

hero member

Activity: 490

Merit: 500

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

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

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: ninjaboon on October 27, 2012, 07:57:01 PM

Hi Pyra-proxy, when will you declare dividends for this stock?

Within 48 hours of a pyramining payout currently. Since these funds just got started the first dividend payments will take a little while to get started as our pyraminin balances grow.

ninjaboon

legendary

Activity: 2128

Merit: 1002

Hi Pyra-proxy, when will you declare dividends for this stock?

ninjaboon

legendary

Activity: 2128

Merit: 1002

Quote from: pyra-proxy on October 23, 2012, 10:51:19 AM

Quote from: ninjaboon on October 23, 2012, 08:48:17 AM

hi pyra-proxy, I've just bought 149 shares. please process them when you are online. thanks

done and thanks for the support.

thanks!

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: ninjaboon on October 23, 2012, 08:48:17 AM

hi pyra-proxy, I've just bought 149 shares. please process them when you are online. thanks

done and thanks for the support.

ninjaboon

legendary

Activity: 2128

Merit: 1002

hi pyra-proxy, I've just bought 149 shares. please process them when you are online. thanks

ninjaboon

legendary

Activity: 2128

Merit: 1002

my deposit to cryptostocks is done. just need 6 confirmations. I will check later in 1 hour and then buy your stocks, thanks.

Quote from: ninjaboon on October 23, 2012, 03:25:02 AM

hi pyra-proxy, I love your idea and I'm gonna buy some shares on cryptostocks in awhile. The reason is that I already have 3 accounts over at pyramining but if I invested in your stocks, I could cash out anytime. Loving it. Will send some BTC in a few mins.

Quote from: pyra-proxy on October 21, 2012, 04:02:32 AM

Quote from: 🏰 TradeFortress 🏰 on October 21, 2012, 03:19:57 AM

Okay sorry, I missed Pyramining and just thought it was a pyramid. But I would think this is bad idea:

1) You have to trust Pyramining.
2) You have to trust Cryptostocks.
3) You have to trust pyra-proxy.
4) When you buy the stock (it should be a bond, not a stock) directly through Pyra-proxy, your BTC are invested. But when you buy it from someone who is SELLING it, then your bitcoins invested are NOT contributed to pyramining and will not increase dividends generated.
5) The contract mentions no such thing of a buyback program or an askwall. This means that if you want to sell, you will have to sell for less than what you brought for unless pyra-proxy decides to start a new program not in the contract.

I'd suggest investing in Pyramining yourself as the risk for this is orders of magnitudes higher. If you need a referral link to sign up, try http://www.pyramining.com/referral/zfhd3gstq or http://www.pyramining.com/referral/a4g3kdnhb

1- true
2- true
3- true
4- true
5- I don't agree with this because as outlined in the investment plan a portion of the dividends are rerouted back into pyramining to create a stable/marginally growing account size, so over time the dividends should naturally grow. Had I chosen a bond system I would not be reinvesting some of the payouts to preserve/grow the fund size, and while not outlined in the contract (maybe I should) I have no plans to issue any more shares in the program so as the account grows or mining becomes more expensive you are very likely able to sell your shares at a higher value than you bought them at.

I agree that if you have sufficiently large an investment and you have no time restrictions for when you need those coins back then direct to pyramining is the best way to go. My program was to set up a fund to get all the benefits of a permanent pyramining account and make it easier to be depositing smaller amounts or allow people to sell their stake to someone else any time they choose.

I know the trust issue is a big one and in time you will see that I will live up to my word and do my best to do the honorable thing in the event of a mishap, I won't expect trust from anyone and I'll let my actions demonstrate this. I have publically announce the head account in pyramining where these funds are placed and even without logging in/having an account any person can see the funds in the system to verify my management of these programs.

Topic: [CRYPTOSTOCKS] PYRPXYBTC - Pyra-Proxy BTC Mining Project (Read 3484 times)