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Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 109. (Read 318060 times)

hero member
Activity: 501
Merit: 500
So all Pyramining investments made now will only pay off FPGA use unless you invest and wait for the ASIC investment option.  Or will all Pyramining investments eventually be paying out off ASIC's even in you normally invest now?

It has been already explained, if you invest normally, you add _now_ fpga power and you start earning mined bitcoin. If you wait for ASICs to be ready, or invest an amount with the format x.xxxx1111, you will add ASIC power.

Of course when ASICs will be put into production, all new investments will be made with ASICs.

All accounts will benefit from ASIC infrastructure when it will be operative.

Old deposits won't slow down ASIC revenues by much, since I expect that when ASIC will be installed FPGA hashing power will represent less than 10% of the ASIC hashing power and our infrastructure costs less than 90% of competitors one, making Pyramining the best choice anyway. In the case that after some days (let's say 10) from the ASIC installation deposits won't reach at least 10 times the FPGA hashing power, I will personally invest the difference making deposits to random sponsors in Pyramining, to speed up things.
hero member
Activity: 501
Merit: 500
There was discussion a couple of weeks ago about solo mining.  I am not sure if he has implemented this yet.

I'm still working on this, but actually the priority is on ASIC development.
hero member
Activity: 501
Merit: 500
Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

Actually P2Pool performances with FPGA units is quite poor due to high stale rate. I have a small % of miners pointed there, but the most part is elsewhere. Moreover, altchains have a really low value, so low that I don't think that merged-mining makes such a difference, it doesn't pay even the cost of setting up and testing the software. However I accept advices, if my opinion on merged mining is wrong.
legendary
Activity: 1372
Merit: 1003
So all Pyramining investments made now will only pay off FPGA use unless you invest and wait for the ASIC investment option.  Or will all Pyramining investments eventually be paying out off ASIC's even in you normally invest now?
sr. member
Activity: 358
Merit: 250
There was discussion a couple of weeks ago about solo mining.  I am not sure if he has implemented this yet.
sr. member
Activity: 389
Merit: 250
Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.

Well why isn't he paying out merged-mining rewards?
Previously 50% or more (at times even 100%) were being put onto p2pool, however I believe there were issues with the high rate of stales among other things. At this point I'm not sure any power is still directed at p2pool as it's disadvantageous and even with merged mining it would be a loss of profit. This does however mean a slight loss for the network as well. I imagine without the issues with p2pool things would go over better, as I do believe pyramining supports the idea behind p2pool wholeheartedly.
legendary
Activity: 1372
Merit: 1003
Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.

Well why isn't he paying out merged-mining rewards?
legendary
Activity: 1358
Merit: 1002
Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.

He is using P2Pool, although with only a part of the hashing power. The rest is on some PPS pool which I don't remember the name now.
legendary
Activity: 1372
Merit: 1003
Have you thought of operating on P2Pool to support bitcoin blockchain diversity and also paying out merged-mining rewards.  I'm sure you'd get more investment if you used P2Pool to support bitcoin blockchain diversity and offered to pay out merged-mining rewards.
sr. member
Activity: 358
Merit: 250
If I were to make several sub 1 BTC deposits into pyramining would the reward accumulate until ALL deposits completed or 1 BTC total was accumulated (then paid out as normal 1 BTC increments), or would a small transaction be generated each time a deposit finished?

If you invest numerous small amounts in the same account over a period of time and the total return (including bonus) is less than 2 BTC, you have to wait for the account to complete before receiving anything.  If its greater than 2 BTC, you will be paid out 1 BTC when the account reaches this level.
hero member
Activity: 868
Merit: 500
I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals.  I reached break even in approx 6 weeks!!  Referals massively speed up the process.

wow. 6 weeks? that is fast.
Particularly large referrals on small deposits make this easy. Assuming you were a top level account you could get to the full reward in a day with a referral of ~1500 times your's. With a referral of ~30-40 times your deposit you could make it back in a 6 weeks. Adding more deposit to your account at this point is a great idea and lots of easy money for you to enjoy (though your bonus would slowly decrease and your referral will eventually complete as well).

That being said, finding even 10 times your deposit in referrals is the hard part to this (for any decently sized deposit).

Its not hard to find referals, the trick is how you structure your referals and investments to maximise your return whilst minimising your return time.  That is what I am talking about!

hero member
Activity: 501
Merit: 500
If I were to make several sub 1 BTC deposits into pyramining would the reward accumulate until ALL deposits completed or 1 BTC total was accumulated (then paid out as normal 1 BTC increments), or would a small transaction be generated each time a deposit finished?

The payout would be sent as soon as the sum of all pending rewards (of all the deposits) reaches 1BTC. If the total rewards including bonus are < 2BTC, then you would get only one payout when the reward is complete.
sr. member
Activity: 389
Merit: 250
If I were to make several sub 1 BTC deposits into pyramining would the reward accumulate until ALL deposits completed or 1 BTC total was accumulated (then paid out as normal 1 BTC increments), or would a small transaction be generated each time a deposit finished?
sr. member
Activity: 389
Merit: 250
I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals.  I reached break even in approx 6 weeks!!  Referals massively speed up the process.

wow. 6 weeks? that is fast.
Particularly large referrals on small deposits make this easy. Assuming you were a top level account you could get to the full reward in a day with a referral of ~1500 times your's. With a referral of ~30-40 times your deposit you could make it back in a 6 weeks. Adding more deposit to your account at this point is a great idea and lots of easy money for you to enjoy (though your bonus would slowly decrease and your referral will eventually complete as well).

That being said, finding even 10 times your deposit in referrals is the hard part to this (for any decently sized deposit).
hero member
Activity: 868
Merit: 500
Its quite possible.  You need to invest in the right manner, then you reach the break even point quickly and from then its pure profit.  Take a look at my account if in doubt.
PM me if you have any questions.
legendary
Activity: 2128
Merit: 1002
I just want to emphasize one thing: the "breakeven" and "complete reward" expected times that now are around 13 / 14 months, are based on CURRENT active mining infrastructure vs current difficulty. They don't take in consideration the new scenario with ASICs. When ASIC infrastructure will be added, I expect that they will shorten a lot (even if difficulty will hugely increase).

I would like to emphasise that the break even point quoted is only if you leave your investment and dont get any referals.  I reached break even in approx 6 weeks!!  Referals massively speed up the process.

wow. 6 weeks? that is fast.
hero member
Activity: 868
Merit: 500
I am sure that as soon as ASICs hit, he will stop investing in FPGA and everything will go into ASICs.  Therefore, those with linked accounts (me included) will simply buy ASIC equipment with our newly invested BTC.
hero member
Activity: 490
Merit: 500
Would it be possible to add a check box or something in the accounts page to force pay-outs to have the 0.00001111 formatted ending so that people with linked accounts could start early investment into pyramining asics?  Perhaps even set this as the default behavior at some point (if we aren't there already) as it becomes economically infeasible to buy new fpga hardware?
For anyone with a "normal" account that doesn't feed directly into another pyramining account it's not a problem. As well I know that historically pyramining has tried to minimize the account changes that can be made with a compromised login as it simplifies a lot of the security practices. Maybe some way to authorize changes with the secret key of the payout address?

This is a pretty non-impacting change because there is only a tiny group of people could be effected.. those persons who 1) revealed their deposit address, 2) have linked accounts, 3)opposed to investing in the asic upgrade for whatever their reason

And even then the damage is rather limited especially if pyramining delivers the asic upgrade on time or even early.  But I do see the need to keep these accounts with very few to no bells and whistles.
sr. member
Activity: 389
Merit: 250
Would it be possible to add a check box or something in the accounts page to force pay-outs to have the 0.00001111 formatted ending so that people with linked accounts could start early investment into pyramining asics?  Perhaps even set this as the default behavior at some point (if we aren't there already) as it becomes economically infeasible to buy new fpga hardware?
For anyone with a "normal" account that doesn't feed directly into another pyramining account it's not a problem. As well I know that historically pyramining has tried to minimize the account changes that can be made with a compromised login as it simplifies a lot of the security practices. Maybe some way to authorize changes with the secret key of the payout address?
hero member
Activity: 490
Merit: 500
Would it be possible to add a check box or something in the accounts page to force pay-outs to have the 0.00001111 formatted ending so that people with linked accounts could start early investment into pyramining asics?  Perhaps even set this as the default behavior at some point (if we aren't there already) as it becomes economically infeasible to buy new fpga hardware?
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