Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 138. (Read 318060 times)

Link   Created   Expired
http://www.pyramining.com/referral/cngsa6p3q   2012-06-22 11:10:29 UTC   still active
http://www.pyramining.com/referral/ndmf3ygbe   2012-06-22 11:10:29 UTC   still active
http://www.pyramining.com/referral/sz6nehrd9   2012-06-22 11:10:29 UTC   still active
http://www.pyramining.com/referral/8bz2x9qge   2012-06-22 11:10:29 UTC   still active
http://www.pyramining.com/referral/apqd836rf   2012-06-22 11:10:29 UTC   still active

A few new links to join with 10% bonus! 
http://www.pyramining.com/referral/kb3yxzgm4
http://www.pyramining.com/referral/2fa8chtk7
http://www.pyramining.com/referral/seh3yqtam
http://www.pyramining.com/referral/4g3d6phbm
http://www.pyramining.com/referral/zbp48g6yd

http://www.pyramining.com/referral/3atmyb6fp   
http://www.pyramining.com/referral/fnz78sdyx   
http://www.pyramining.com/referral/3xay7fc29   
http://www.pyramining.com/referral/x7rm3g9ck   
http://www.pyramining.com/referral/gbqd2te9k   

 
http://pyramining.com/referral/xkaet64bm
http://pyramining.com/referral/28zrn3ayx
http://pyramining.com/referral/qm3azfbyc
http://pyramining.com/referral/skg3b8zqa
http://pyramining.com/referral/s8423xzcp
http://pyramining.com/referral/9hk8qznam

If you read the discussion it's already explained. While miners find valid blocks, an amount proportional to your deposit is credited at your balance. Whenever this balance grows bigger than 1 BTC, a transaction to your payout address is made. If your accounts has less than 2 BTC to be received, the transaction is delayed until you get the full amount (to prevent a final transaction smaller than 1 BTC).

Valid blocks are found several times a day.

How often is the 10% credited?
Every month or week?


Here's a fresh batch of referral links:
http://www.pyramining.com/referral/nb6qhpgd4
http://www.pyramining.com/referral/76ec3zx2y
http://www.pyramining.com/referral/9crkxd8z6
http://www.pyramining.com/referral/zb8d7q49f
http://www.pyramining.com/referral/68hmsgtpk

How should that affect it? Pyramining it's not a "conventional" mining operation where someone buy an FPGA at $500 or more and will need to face "competition" for 2 years. At current conditions I have been able to achieve a price under $120 for one FPGA, and break-even is in less than 8 months. Even if ASICs would be ready next week, they don't have enough time to affect expected performances. Moreover, when an account is "completed", the infrastructure remains available (for free) for new deposits, until it breaks.

I am continuing my R&D to produce better and better hardware (in terms of price and performances). If BFL ASICs are good products and I can find them at a lower price than the stuff I will be working on by that time, I could buy their technology.

Pyramining is up and running since less than 1,5 months, it grew faster than expected, and there are two factors that are limiting it's efficiency:

1) a promise to not leave p2pool (and no spare hashing power to keep up with p2pool low efficiency).
2) limited supply of new infrastructure.

Both points will be fixed in short time (less than 3 weeks, I explained in previous posts the actions I am taking to keep ROI times aligned to expectations). Meanwhile if P2Pool keeps it's low efficiency, I won't point new miners at it, so its performances will not hit Pyramining.

For the future things can only improove, and ASIC technology can only positively impact Pyramining: new infrastructure will be bought at even better price/performance ratio.

Here is a thread dedicated to this topic: https://bitcointalksearch.org/topic/announcement-asic-mining-processor-by-butterfly-labs-87934

I think this is a bit suspicious. There is no announcement on the butterflylabs.com, which to me is a red flag. But I really hope to be wrong, because those numbers are unreal   

Anybody knows how today's Butterfly announce of the ASICs is going to affect pyramining deposits?

Nah - if one did, then my bonus would be in the hundreds of percent rather than the measly <15% it is now. 

Thanks. I wasn't able to find this before, though it wasn't the first thing I had been looking for. Maybe something useful to add to the primary post?

Do you not get anything for second level referrals then I'm assuming?

Just started another round so get your 10%


http://www.pyramining.com/referral/p3z67mhg8
http://www.pyramining.com/referral/329b84tfg   
http://www.pyramining.com/referral/cr8bph7ks
http://www.pyramining.com/referral/4x2fptrhq
http://www.pyramining.com/referral/y2r9df73g

Here are some more links for 10% bonus!

http://www.pyramining.com/referral/m4es8pzat
http://www.pyramining.com/referral/3p26hbemn    
http://www.pyramining.com/referral/94rqe7sy2

Thanks

I try to keep enough reserve, and I add it daily. In case deposits exceed available reserve, it may take as long as 1 month and 2 weeks (time required from the ordering of components to have new hardware delivered) to be put in production.

In case such a thing should happen, after the new hardware is ready, I would temporarily add some extra hashing power in order to make up for the delay.

I do the same when situations like what p2pool is experiencing (see statistics): its effciency is actually 46% but since me and some other Pyramining members want to support P2Pool, instead of pointing all the miners to a PPS pool, I will add some extra hashing power until revenues get aligned to the expected rate, when the 120GH/s batch will be delivered.


When I started the project around 10th of May, I had 25GH/s available and 40GH/s already ordered.
Pyramining is receiving a lot of members and deposits and actually the reserve is almost exhausted.
There is an order for 120GH/s that should be ready within 2-3 weeks.


The bonus % gets smaller because it's calculated on your deposit amount, but your "absolute" earnings don't decline. I already explained how bonus is calculated, however I  am posting it again, it is:

initial_bonus + ((sum_of_referral_deposits / your_deposit) / 10)

so, let's do an example:
you join through referral and deposit 10btc: bonus is 10%, you will get 11btc.
you get two referrals which deposit 5btc each: bonus is 20%, you will get 12btc.
you further deposit 10btc: bonus drops to 15%, you will get 23btc.

now let's do another example:
you join through referral and deposit 20btc: bonus is 10%, you will get 22 btc.
you get two referrals which deposit 5 btc each: bonus is 15%, you will get 23 btc.

as you can see, it is the same.

Hope it's clear enough, should you have any doubt just ask.

The percentage went down ofcourse. The monetary reward went up.
Even after going down I still get 4000% of 10 BTC lol

I've thrown in a very small amount because I like the idea, though I had a few questions as well.

What's your lead time for adding new hardware once the BTC are added to pay for it?

Do you mind disclosing how much hashing power you have on reserve for new accounts, in terms of hashing power or deposit amount?

I saw psy mentioning his bonus going down as he added to his initial deposit, what specifics are you willing to provide about how and when the bonus declines?

I hope, that your work will be long-term, after payment of the loan to the investor I shall be put in your business. Success
 i have bad eng))

Insurance:  Ask for one of our referral at info @therocktrading.com and we will grant you insurance coverage for your investment at no additional costs

Buyback:  Do you want to get out prematurely from Pyramining?  Ask for information about it and we will make you an offer

Bonds: Would you like to invest in Pyramining but you need to have the flexibility to get out any moment you like?  You can buy our Fixed return bonds ( 1% monthly return) at https://www.therocktrading.com/funds/15 and be able to trade them on our 24/7 platform.

Please note: only 1000 bonds are issued at IPO price of 1 Bitcoin each.  Please, read our forum section for further news and information

Thank you!

It's located in Italy.