Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 142. (Read 318060 times)

I thought it was explained pretty well in the FAQ, probably I need to spend some more time in adding more explanations.

There can be 3 cases:

1) You create an account without any sponsor.
You will receive the amount of bitcoins invested PLUS 5%, and then it stops. If you invest 100, you will receive 104,475 (+5% bonus, -0,5% transactions management fee)

2) You create an account through a sponsor (using a referral link).
You will receive the amount of bitcoins invested PLUS 10%, and then it stops. If you invest 100, you will receive 109,45 (+10% bonus, -0,5% transactions management fee)

3) You do some activity to find referrals, and someone joins using you as their sponsor.
You start with the bonus like in points 1) or 2). Everytime someone joins using you as sponsors and deposits any amount, your bonus will increase. The exact increase can be calculated with: ((sum of referral deposits / your deposit) / 10) ).

In the third case, reward can be also very high (there are members who doubled, tripled or even much more their investment, if you ask here probably someone could tell you directly about their experience), so this could be the most interesting way to use Pyramining. It's not easy to find potential members, but if you can, you get rewarded pretty well.

In all cases you will receive your investment back PLUS some earnings that depend on the way you joined/used Pyramining.

Accounts don't mine forever because FPGA units working at these rates wear out in about 2 years. I studied this business plan in order to be able to keep always efficient hardware at work so every member will get their expected results.
However the infrastructure is not removed from Pyramining unless it breaks up. This allows fast investment returns even to future users who will join with increased mining difficulty and halved block bounty.

Hope it's clear enough now. If you have any other question, just ask.

It stops mining once you reach deposit*(1+bonus%). And of course, you can add additional bitcoins to the account that will use the accumulated MH/s to achieve breakeven+bonus even faster.

Only reason i ask is because if i understand correctly. The moment my account becomes complete I don't get paid for my bitcoin anymore? And the way it becomes complete is when i breakeven? So technically am i actually making money or am i just making the money back which i deposited?

If the account continues to mine forever then I don't have any gripes against not being able to deposit (for now) but if it stops mining when i break even then there is not real point in investing. Surely it isn't like this though. If you could spare a minute or two to explain to me how this works I'd greatly appreciate it, im slightly hesitant to start throwing money at this.

Im sure it would help others too.

It's not possible because I use them to order/buy new hardware. Should you have any issue, write me a PM to discuss about it.

Yeah, I really haven't figured out how all of this works, my bitcoins are just kind of along for the ride. I'm cool with that.

Is it possible to withdraw funds?

Profits are added when mined blocks get credited. Since mining is performed on various pools, times/modes change slightly. However on average it happens 4 / 5 times a day.

When you get all your deposit plus your bonus, your accounts becomes "completed", and you stop receiving rewards. If you want it to become active again you can deposit more funds, or you can start another (new) account.

How often are mining profits added to an account?

Also I don't quite understand how the completion of rewards work? So once i get all my deposit back, my account gets closed? Im really confused with that.

As I explained in a few posts before, because of variance (and a period of bad luck on P2Pool), rewards have been slowed down compared to the calculated average. Since I would not like to move all the miners on PPS pools (a choice supported also by other pyramining members), when the next batch of hardware will be ready I will temporarily add extra hashing power at my expenses, in order to pair up with expectations. This will affect both all old and new accounts.

- 50 GH/s are currently in production and they should be ready around the end of June, first days of July.
- 100 GH/s are already ordered and expected for the end of July, first days of August.

However if "variance" makes you (and others) too much anxious, I will consider to temprarily move all the miners to PPS pools until the new hardware will be ready.

I think it's just the bad luck =/

observing the statistics for a few days, I noticed that at the same power, compared with Dееpbit, the reward is 50% less. here and referral payments taken into account. not too great referral payments?

That's not easy to guess: it depends on several factors: everytime a referral deposits any amount, this number might change. And since a referral gets 15% from his referral revenues, in case he has a very big referral under him, it might also get "completed" before your. I could try to foresee an apporximate amount and insert that statistic, but I would like to avoid discussions of the kind: "I deposited 10, it said the expected reward was 15, but I received only 14.768433".

Currently I am working on a way to automatically (and dynamically) add some hashing power to balance "bad luck" of some pools. This feature will be activated when the first big batch of FPGA units will be ready (it should be around the end of this month), in order to keep all active accounts in line with the reward time expectation.

btw, one statistic that you could add is the expected total payout for each account. For example, I have a deposited amount of 10 BTC and a bonus of 15%, it would be great if you added in how much I would get in the end. Also, the amount left to generate would be great

I have no referrals. If someone would be kinda to help me get started that would be great!

http://www.pyramining.com/referral/fxpa9gzc3   2012-06-02 20:13:34 UTC   still active
http://www.pyramining.com/referral/nz6ysfrqh   2012-06-02 20:13:34 UTC   still active
http://www.pyramining.com/referral/y7cd6esxf   2012-06-02 20:13:34 UTC   still active
http://www.pyramining.com/referral/69dtqyrn3   2012-06-02 20:13:34 UTC   still active
http://www.pyramining.com/referral/xrf4kg7ap   2012-06-02 20:13:34 UTC   still active

http://www.pyramining.com/referral/ge6x2df7p    2012-05-31 13:47:44 UTC    still active
http://www.pyramining.com/referral/ah7p8qkgf    2012-05-27 08:54:44 UTC    still active
http://www.pyramining.com/referral/g98z7kteh    2012-05-27 08:54:44 UTC    still active
http://www.pyramining.com/referral/x7pymhkbe    2012-05-27 08:54:44 UTC    still active
http://www.pyramining.com/referral/nfb3my8e2    2012-06-03 06:39:20 UTC    still active

All right everyone! Many hungry mouths to feed! Here are some links for you all! Freshly baked links!

http://www.pyramining.com/referral/92t7fecgh   
http://www.pyramining.com/referral/9t6q3ab7p
http://www.pyramining.com/referral/zethqgm7p
http://www.pyramining.com/referral/s6dkn2ta4
http://www.pyramining.com/referral/y4aghxe3n

Hi guys,

I just wanted to say how great I think this idea is and , let's face it, difficulty is going to keep increasing so we may as well be on the winning train with Pyramining. So I invite everyone that hasn't done so yet to join by using one of this 10% bonus links:

http://pyramining.com/referral/4mn3ac7zh   2012-05-31 20:52:30 UTC   still active
http://pyramining.com/referral/fnct367zm   2012-05-28 16:31:13 UTC   still active
http://pyramining.com/referral/8kqsem4xd   2012-05-28 16:31:13 UTC   still active
http://pyramining.com/referral/sn3hdf42z   2012-05-28 16:31:13 UTC   still active
http://pyramining.com/referral/eg96sna4b   2012-05-28 16:31:13 UTC   still active

Thanks a lot in advanc3!

Pintycar

Sweet!! Thank you!

Like a boss!