http://www.pyramining.com/ - Discussion thread (no advertising here) - page 101.

links-pyramining

newbie

Activity: 51

Merit: 0

Quote from: simonk83 on March 13, 2013, 01:39:02 AM

Thanks Smoov

Because I'm not clear on the bonus details, I guess I'm just not sure if it works out better to say put 100btc in a new account with the original as a sponsor, or create 10 accounts all linked to each other with 10btc in each. Or for that matter, 10 accounts with 10btc all linked to the one initial account...

The formula is (( referrals total deposit / sponsor deposit) / 10 ). Let's assume you deposit 1 BTC and then 100 BTC as referral, your sponsor bonus will be 10 + (( 100 / 1 ) / 10 ) * 100 = 1010% => 10.1 BTC from your sponsor account and 110 from yor referral => 120.1BTC.

The same if you deposit your 100 in 10 separated referral accounts: 10.1 from sponsor + 11 * 10 from your referrals.

simonk83

hero member

Activity: 798

Merit: 1000

Thanks Smoov

Because I'm not clear on the bonus details, I guess I'm just not sure if it works out better to say put 100btc in a new account with the original as a sponsor, or create 10 accounts all linked to each other with 10btc in each. Or for that matter, 10 accounts with 10btc all linked to the one initial account...

Smoovious

hero member

Activity: 504

Merit: 500

Scattering my bits around the net since 1980

Quote from: simonk83 on March 13, 2013, 01:28:58 AM

Hi all,

So I thought about it some more and joined pyramining with a chunk of BTC

I didn't go for ASIC's with this deposit, as I'd rather earn immediately this time around.

Now, I'm also considering creating a new account and depositing a fairly large amount using the initial account as the sponsor. Is that generally a good idea (I figure it can't hurt)? Is the bonus credited to the initial account proportionate to the amount deposited into the new account (so larger chunk you deposit, the bigger the bonus amount)?

Also, if I allocate the new deposit to ASIC's, does the initial account still receive the bonus immediately? (I assume so, just checking Cheesy

)

I'd be happy to hear any other investment strategies others are using if you don't mind

I have about 30 or 40 accounts all feeding into and out of each other in various ways. Linking your accounts through your own referrals is a good idea, and not frowned upon.

I don't know about the strategies tho... I did mine up kinda haphazardly.

Someone else will have to answer about the specifics of the bonus amounts.

-- Smoov

simonk83

hero member

Activity: 798

Merit: 1000

Hi all,

So I thought about it some more and joined pyramining with a chunk of BTC. I didn't go for ASIC's with this deposit, as I'd rather earn immediately this time around.

Now, I'm also considering creating a new account and depositing a fairly large amount using the initial account as the sponsor. Is that generally a good idea (I figure it can't hurt)? Is the bonus credited to the initial account proportionate to the amount deposited into the new account (so larger chunk you deposit, the bigger the bonus amount)?

Also, if I allocate the new deposit to ASIC's, does the initial account still receive the bonus immediately? (I assume so, just checking Cheesy

)

I'd be happy to hear any other investment strategies others are using if you don't mind

reefless

member

Activity: 112

Merit: 10

Advertise on my site pm me earnbit.blogspot.com

Quote from: bradyon on March 12, 2013, 07:32:34 AM

If you deposited 0.7 btc and you have no referrals under you, at some point you will receive 0.77btc (your initial deposit+10%). Nevertheless the time it will take to receive your 0.77 will vary depending to mining conditions. According to pyramining you will get your reward complete by 2 months after ASIC implementation. So I bet it will be before july.

Enjoy and next time (if you want) use me as a referral. Cheesy

thank you for the information

bradyon

full member

Activity: 172

Merit: 100

TradeFortress has to pay his debitors

If you deposited 0.7 btc and you have no referrals under you, at some point you will receive 0.77btc (your initial deposit+10%). Nevertheless the time it will take to receive your 0.77 will vary depending to mining conditions. According to pyramining you will get your reward complete by 2 months after ASIC implementation. So I bet it will be before july.

Enjoy and next time (if you want) use me as a referral. Cheesy

reefless

member

Activity: 112

Merit: 10

Advertise on my site pm me earnbit.blogspot.com

can anyone help me i'm new to this. So if i deposit 0.7 btc what spec will I get and how long it will take to get back those coins.

pyra-proxy

hero member

Activity: 490

Merit: 500

Quote from: symbot on March 11, 2013, 10:04:03 PM

The burning question of the moment:

Is Pyramining still on 0.7, or on 0.8?

You'd have to ask abc pool's front-end pools, since it is a pool of pool's for lack of a better description, the odds are good pyramining hashing has gone to both chains reducing some risks in cases like this.

symbot

member

Activity: 118

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Nobody accepts bitcoin on the moon.

The burning question of the moment:

Is Pyramining still on 0.7, or on 0.8?

bradyon

full member

Activity: 172

Merit: 100

TradeFortress has to pay his debitors

Absolutely! Awesome news!!! Even in that adverse scenario, breakeven will take a reasonable time. So looks like the only thing we have to worry about is maybe the next halving isn´t it? ...well let´s see how things develop.

Thanks again for your dedication to this project, pyramining!

Akka

legendary

Activity: 1232

Merit: 1001

If you are really getting that much hashing power online I expect that people will invest like crazy (see the Asicminer craziness, people are buing for 8 Times the IPO Price ).

In such a scenario I can Imagine is that people will invest until you have no equipment left to add and the reward time increases again significantly.

Do you have any plan in case that happens?

Like putting new deposits in a pre-purchase buffer like with the current ASIC orders as soon the point is reached where you can't add any new hardware.

Oh, and awesome news by the way.

pyramining

hero member

Activity: 501

Merit: 500

Quote from: bradyon on March 11, 2013, 09:53:50 AM

Any estimations about break even time of accounts, difficulty increasing, reward due to transaction fees, Gh/KW, lifespan of devices or any other you can tell us now?

At the current conditions full reward may be probably reached in less than 2 months. Estimated power consumption is around 900GH/s per kW.

I can't guess how difficulty may increase. It depends on if and when other ASIC vendors will deliver their products.

This is pure speculation so please don't take it as pure "truth": I expect that BFL could add around 200TH/s to the network. Another 300TH/s from bitfury,100THmine, and related ones. Then there is Helveticoin talking about 1 peta hash/s. If all these ones will deliver as promised we will see an increase of difficulty in the next months up to 1.5PH/s.

In such an adverse scenario, with 1.5PH/s (peta hashes / sec) of global hashing power, breakeaven would still require less than 1 year. However by the time all this hashing power will be delivered, we should already completed all our current accounts.

bradyon

full member

Activity: 172

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TradeFortress has to pay his debitors

Quote from: pyramining on March 08, 2013, 06:12:21 PM

ASIC update: first units will be deployed during mid April, software will need some refinement, probably a couple of weeks, and then mass deployment will be done.

Any estimations about break even time of accounts, difficulty increasing, reward due to transaction fees, Gh/KW, lifespan of devices or any other you can tell us now?

This is getting more exciting each day! Cheesy

simonk83

hero member

Activity: 798

Merit: 1000

Quote from: links-pyramining on March 11, 2013, 03:21:59 AM

Quote from: simonk83 on March 11, 2013, 03:03:23 AM

I also have a stupid question

I'm a little unclear on how this works, but I'm tired, and sick, so that's my excuse and I'm sticking with it.

Say I stick 100BTC (arbitrary number) into Pyramining, that will give me x amount of hashing power. I then receive 1BTC each time I hit that amount, back into my wallet. Is that 1BTC just coming off the initial 100 (so that leaves me 99 to go), or is it on top of...? So I get these 1BTC rewards from mining every so often, then at the end of my time, I also get the initial 100BTC back? Or am I just slowly working off that 100BTC that's getting drip fed back to me in 1BTC increments (in which case I don't really see the point).

Told you it was a stupid question!

The first one.

You receive 1BTC each time you hit that amount and then you have 109 to go (not 99), due to pyramining +10%.

When you invest in Pyramining, you buy hashing power, so your hashing power will be x till your complete reward. Though, x is not a fixed amount, it changes on pyramining total hashing power growth. I think it's more correct to say that you buy a quote of hashing power proportional to your bitcoin, the total bitcoin deposited in the project and the total hasing power.

The more bitcoin are involved in the project, the less is your quota, but the bigger is the total hashing power! So, your equivalent HP will stay more or less the same. In fact, until now we have seen a steady decrease in GH/s cost and then a steady increase equivalent HP.

With ASICs I think there will be a giant growth in total hashing power against a not so big total bitcoin deposit. The effect will be an equivalent hashing power growth for every one.

Please, correct me if I'm wrong.

Hmm. So essentially, you deposit 100BTC, and you end up (a year or so later) with your original 100 back, plus 10%? So it's a 10% total reward over a year.

Better than shares I guess, but I'm not sure I want to tie up my BTC for a whole year for "just" 10% (especially with the rapid growth right now). You could make 10% in a day or two lately (though I realise there's no guarantee of that).

If it was deposit 100 BTC, and get that 100 BTC back in a year, PLUS all the 1BTC rewards when you've "mined" enough, that'd be worth doing (so you essentially double your money I guess).

links-pyramining

newbie

Activity: 51

Merit: 0

Quote from: simonk83 on March 11, 2013, 03:03:23 AM

I also have a stupid question

I'm a little unclear on how this works, but I'm tired, and sick, so that's my excuse and I'm sticking with it.

Say I stick 100BTC (arbitrary number) into Pyramining, that will give me x amount of hashing power. I then receive 1BTC each time I hit that amount, back into my wallet. Is that 1BTC just coming off the initial 100 (so that leaves me 99 to go), or is it on top of...? So I get these 1BTC rewards from mining every so often, then at the end of my time, I also get the initial 100BTC back? Or am I just slowly working off that 100BTC that's getting drip fed back to me in 1BTC increments (in which case I don't really see the point).

Told you it was a stupid question!

The first one.

You receive 1BTC each time you hit that amount and then you have 109 to go (not 99), due to pyramining +10%.

When you invest in Pyramining, you buy hashing power, so your hashing power will be x till your complete reward. Though, x is not a fixed amount, it changes on pyramining total hashing power growth. I think it's more correct to say that you buy a quote of hashing power proportional to your bitcoin, the total bitcoin deposited in the project and the total hasing power.

The more bitcoin are involved in the project, the less is your quota, but the bigger is the total hashing power! So, your equivalent HP will stay more or less the same. In fact, until now we have seen a steady decrease in GH/s cost and then a steady increase equivalent HP.

With ASICs I think there will be a giant growth in total hashing power against a not so big total bitcoin deposit. The effect will be an equivalent hashing power growth for every one.

Please, correct me if I'm wrong.

gektek

full member

Activity: 237

Merit: 100

I rave ... whats your excuse?!?

Quote from: links-pyramining on March 11, 2013, 02:57:47 AM

Quote from: gektek on March 11, 2013, 02:48:09 AM

And yes, a simple link to the page where this question is answered will suffice and I apologize in advance if that is the case. Thanks for your time! Cheesy

Here it is: https://bitcointalksearch.org/topic/m.1272352

BAH...I'm too used to FaceBook...was looking for a damn like button Tongue

Anywho, ty ty!!!!!

simonk83

hero member

Activity: 798

Merit: 1000

I also have a stupid question

I'm a little unclear on how this works, but I'm tired, and sick, so that's my excuse and I'm sticking with it.

Say I stick 100BTC (arbitrary number) into Pyramining, that will give me x amount of hashing power. I then receive 1BTC each time I hit that amount, back into my wallet. Is that 1BTC just coming off the initial 100 (so that leaves me 99 to go), or is it on top of...? So I get these 1BTC rewards from mining every so often, then at the end of my time, I also get the initial 100BTC back? Or am I just slowly working off that 100BTC that's getting drip fed back to me in 1BTC increments (in which case I don't really see the point).

Told you it was a stupid question!

links-pyramining

newbie

Activity: 51

Merit: 0

Quote from: gektek on March 11, 2013, 02:48:09 AM

And yes, a simple link to the page where this question is answered will suffice and I apologize in advance if that is the case. Thanks for your time! Cheesy

Here it is: https://bitcointalksearch.org/topic/m.1272352

gektek

full member

Activity: 237

Merit: 100

I rave ... whats your excuse?!?

ok...please don't shoot me out of the forum stratosphere for asking this one but I have a feeling I may not be the only noob with this question/comment so here goes...

So I've been 'investing' in pyramining since August of last year and I am a whopping 4 btc in atm (ALL mined with my measly home operation running at 500Mh/s tyvm! Tongue

) so I'm chugging along at uh...42.6Mh/s with pyramining. The question is...when your ASICs launch...will the measly 4 btc that I have invested continue to 'earn' at the same rate with the FPGA cards or...well...I just don't know what the 'or' would be I guess. Point being I'm a little fuzzy on what is going to happen to the non-ASIC investors that have already been earning with the current system.

And yes, a simple link to the page where this question is answered will suffice and I apologize in advance if that is the case. Thanks for your time! Cheesy

pyramining

hero member

Activity: 501

Merit: 500

Quote from: pyra-proxy on March 08, 2013, 10:35:45 PM

Great news! Any plans to halt new fpga purchases and use all new funds for asics since we are only a month out?

Quote from: Akka on March 09, 2013, 04:10:37 AM

Yes, that would not be such a bad idea. I still see active accounts increasing on a daily basis.
Probably most new people joining don't get the point that they also could invest in ASICs so maybe it could be time to thread all deposits as ASIC deposits.

It would be difficult to switch all the deposit to ASIC if they are not available right now: there are people who want to start mining immediately and they would get disappointed. Or nested account that would not work as they should.

To invest into ASIC there are already two ways: 1) hold the funds until ASICs will be deployed. 2) Deposit using the final "1111" amount.

Quote from: Akka on March 09, 2013, 04:10:37 AM

Pyraming, if you plan to go solo, what will be your policy on transaction space?
As you might have seen we have hit the 250kb softlimit.
Would you stick with it? Increase it?

Since the hashing power is here for the members, I think it would be fair to let you discuss/choose what you would prefer, and I try to satisfy the requests in the best way possbile.

Quote from: Akka on March 09, 2013, 04:10:37 AM

Also if you really want to go solo, keep in mind that a fast connection is required and Bitcoind should have as much connections as possible. Otherwise you will probably end up producing a lot of orphan blocks.

Not a problem. I have 100Mbit/s connection and in a couple of months it will become 20 times that, so I don't think having a well interconnected bitcoind is an issue! ;-)

Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 101. (Read 318060 times)