Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 100. (Read 318060 times)

As we approach the results, costs gets defined better. This is the real/final cost of the first batch of devices, and they include also corrections on first design. The first batch will indeed cost more than predicted. However I expect prices to drop in time, starting already at the second batch. Early investors will be given their promised hashrate, if I understimated the costs it's my fault. They have also had an higher "risk" investing, so I think it's fair that they have an advantage.

I was sure that it worked like this:
We have account A, B, C and D, referrals are like this A -> B -> C -> D

A starts out with 1 BTC deposit and because he has no sponsor his initial reward will be a total of 1.05 BTC

B adds another BTC, because he has a sponsor his initial reward will turn out to be 1.10 BTC. A recieves 15% of the income generated by B untill B reaches 1.10 bitcoins, so A will add 1.10*0.15= 0.165 BTC to his reward giving a total reward of 1.215 BTC.

C also adds 1 BTC, his initial reward is 1.10 BTC, B's reward increases to 1.215 (same as A did in previous step), and A's reward increases by 1.10*0.075= 0.0825 BTC for a total of 1.2935 BTC.

Now here comes the big investment

D adds 100 BTC, making his total reward 110 BTC. This gives C 110*0.15=16.5 BTC extra reward and A and B gets 8.25 BTC each.

Total rewards turn out to be

A=1.05+0.165+0.0825+8.25= 9.5435 BTC

B= 1.10+0.165+8.25= 9.44 BTC

C= 1.10+16.5= 17.6 BTC

D= 110

Total reward= 146.6 BTC

If this is not the case, Pyramining seriously needs to edit their F.A.Q's..

Snipping out some quotes for sanity's sake.
The income that goes up is in terms of income received, they get 30% of what you would have made. The total amounts everyone gets is still the same though. Higher level accounts just get their payout faster. If you have 100 MH/s of equivalent speed, you earn 70MH/s worth and 30MH/s gets paid to your sponsors (or their sponsors, or further up the chain). Everyone still makes the same final amount based on the earlier formula. Accounts with sponsors who haven't received their full return just effectively earn more slowly.

So for a (relatively) short explanation:
* Deposit 1 BTC in A (A)
-- A will get 1.05 BTC (1 + 5%) back as an original member (you can not join at the top level any longer)
* A gets a referral, B, who deposits 1 BTC (A > B)
-- B will get 1.1 BTC (1 + 10%)
-- A's Bonus will increase according to the above formula (the simple version is 10% of the referrals deposit in BTC)
-- A will get an additional 0.1 (based on the higher bonus) for a total of 1.15 (1 + 5% original bonus + 10% of B)
-- A gets rewarded faster based on getting 30% of B's income (as hashing speed), but the total rewards are unchanged
* A gets another referral C for 1 BTC (A > B, A > C)
-- C gets 1.1
-- A gets an additional 0.1 for a total of 1.25
-- B doesn't change
-- A goes even faster
* B gets a referral for 0.5 BTC (A > B > D, A > C)
-- A doesn't change (only the immediate sponsor gets a higher reward)
-- B gets an additional 0.05
-- B goes faster
-- A goes faster
-- No changes to C



So you can effectively mine faster with referrals, and of course your total reward goes up too. Your sponsor(s) all the way up the chain (to A in the example) that haven't received their full bonus get to borrow some of your hashing power, but you still make just as much.

As for the best scheme for investing your own coin, scaling up exponentially is the best scheme I've come up with 0.1 > 1 > 10. Small deposits with larger referrals get you close to 20% overall bonus. I would also suggest having everything come out to your own wallet and manually reinvesting with pyramining instead of using the payout from one directly into another. It allows you to get out quicker if you want to and you can pick the account it goes to.

If anyone found this particularly fun or just wants to be my referral, click here (or PM me for a fresh one).

Hey Pyramining, I have a question regarding the ASIC Hashing power/BTC.. I checked around 2-3 months ago, and at that time the amount of hashing power received per dollars spent, was higher than that of any of the ASIC-products on the market. But right now it's 0.7 BTC/GH or equivalent 32$ per GH, where BFL is standing at 20$ per GH.

How come? Was the price higher than initially anticipated? Does that mean that early investors are getting more bang for buck than anyone investing now, or do they get less than expected?

Just to make it one quote longer..

I'm 100% sure that it's income which is distributed among the sponsors. Taken from the F.A.Q.'s "30% of your income will be sent upwards: 15% of your income will be sent to your sponsor. 7.5% to the 2nd grade sponsor and 7.5% to the 3rd grade sponsor"
It's also seen in action at the guy with the second highest bonus, who've deposited 10 BTC, but payouts are at 344 BTC and counting.. (http://pyramining.com/account/browse?id=s9q3bxy8)

btharper is right. After doing some reading it seems it's the hashing power that goes up 3 levels but yes I still think that is a good strategy except the upper levels will complete before the lower ones and you'd have to redeposit a small amount again to receive the bonus in the upper accounts. Basically sponsers get a bonus so it's a good idea to be your own sponsor. Another strategy I thought of was 0.1 > 0.1 > 0.1 > 0.001 > 129 because is would cause the 0.0001 account to complete very quickly and you could recieve awards quicker and keep redepositing the 0.001.

About payouts: I'm waiting for ABCPool to unlock payouts. It shouldn't affect earnings once they do it.

About website: There has been a problem with the power on the premises, also miners have been affected for about 2 hours. Now it is solved.

Doesn't seem to want to work here.  I'll try again later.

All good now

No longer.

Site down?

Well, let´s hope issues like this will not happen when we move to solo mining.

....can´t wait....

ABC-Pool deactivated payouts due to the fork. They probably haven't reactivated them yet.

no payouts from abc-pool?

Sorry, could you clarify that part, I think a word is missing somewhere (and it might make a big difference where ).

Do you agree that the 0.1 > 0.2 > 0.3 > 29.3 > 100 is the best way to go as well?

Thanks!

For clarity, 10% bonus goes to the referral. The 30% HASHING speed is distributed to accounts above you that aren't yet completed. If they get their complete reward (and don't add more funds) then it no longer transfers up. If the one of them finishes their "cut" of your hashing power goes up the chain if ANY accounts up the chain haven't completed yet.

each deposit rewards itself 10% then 15% goes to one level up, then 7.5% and then 7.5%

My last transaction update was on March 10 at 23:26 UTC.  Something seems to be stuck somewhere...

Oh sorry dude, I might end up making more accounts so I'll keep you in mind if I do

With your suggestion though, as the rewards only go up three levels, that first account will never do anything will it (it'll never get to a 1BTC payout?  Or will the 29.3 be feeding that...).   It'd be awesome if there were a calculator site for pyramining that let you easily test out scenarios

Damn, I wish you would have used me as a referral. Most people would deposit a small amount in the first account and chain it down from there and since bonus's go up three levels it's best to make a chain of accounts at least 4 levels down. Example if I were you I would have done something like this : 0.1 > 0.2 > 0.3 > 29.3 > 100

Right, so you're actually better off depositing a small amount initially, then following that up with a large referral...

I actually deposited 30BTC as my initial chunk, so adding 100BTC in a referral account doesn't seem to work out as well