Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 20. (Read 318060 times)

It would not have mattered. He has assigned ALL deposits a hashrate based on the date/time of the deposit. My 47.xxbtc account is getting 11.6ghs, some of that is newer deposits, but all in all its close to the hashrate from before the change. If you deposit now, you get 137.4ghs per btc. You wouldn't have gotten that with the "preorder".

I can't back this up with any hard evidence, but I think that it will be sooner than we think for that hardware to knock the "old" deposits up to the 1stgen asics. I went up the chain above me, no wandering just straight up and the average completion was 70% when I did the math. Factor in pyra saying that there isn't a lot of large deposits and I don't think we will be waiting that long.

Ahh...so my mistake was not taking advantage of the 'pre order' thing that was happening last year. I just made direct deposits so they would start earning right away and da dah dah dah... I get it now...sorta... ;P

We were, but the older fpga deposits weighed down the hashrate for the deposits that came after it. Look back for my posts on this. A few of us did some detailed math and discussion on this.

heh...been a supporter of Pyra for quite some time now but I gotta say...the recent changes are...confusing at best. I kinda get what is going on and at the same time not really. And I kinda agree with things but at the same time not really...maybe cuz I don't fully understand...maybe cuz I do and I dun like it. Either way I guess this is my question, keeping in mind I do remember Pyra stating the website was going to undergo changes after new hardware was installed and running...anywho...what the heck is going on?

I thought we were 'investing' bitcoin in a bitcoin business. Yes things are being purchased so chances are the purchases are based on a currency other than bitcoin but...bitcoin has a value of its own, why does it look like Pyra is creating its own value for things? I mean...if the current bitcoin value is what it is...I can FULLY understand adjusting the 'sell price' for each account based on when deposits were made but I don't understand why the hash power is being adjusted for the deposits...I thought we we're basically all supposed to be sharing, pyramid style and all... Maybe if the values were based on the price of bitcoin at the time of a Pyra hardware purchase but I made deposits of the exact same amount several days in a row and they all have different hash power ratings (I think...things are confusing...sigh) ...I am assuming because the value of bitcoin changed day to day but but but...and thats about the point where things start to get all loopy and chicken or the egg? type questions...

So...if there was a simple explanation somewhere, a simple link to that post would be great...otherwise...what'sa goin on lately???

Please and thank you.

You missed a post or 2.

Pyramining paid for that hardware with the funds that had built up from deposits prior to him queuing deposits again, + the queued deposits + his own personal funds to get things back on track.

I am not in the mood to go back and actually quote him, but this is whats new.
Deposits are now assigned hashrate based on the cost of hardware at time of deposit, excess hardware gets split between the oldest 10 deposits.
When the "new" deposits get paidout that hashrate will get added to the pool of "old" deposits.

Are you sure that the remaining 24ish THs are dedicated to the old deposits? I'm not sure because Pyra never mentioned this or maybe I have missed a post...
If so, who paid for the 24 Ths? 

ASIC wasn't the term for the last gen of mining hardware, its the term for the chips being used to mine NOW.
Have you read through the thread? He is dedicating the remaining hashing power after the queue to the oldest 10 deposits. The queue was 5.9ths and he is/has bringing/brought online 30ths+, that means 24ish ths dedicated to the old deposits. We can't know how long it will take for that hardware to hit our deposits until he implements some stats or puts a countdown on each deposit or something.

When will the website be back up so we can start offering referrals again?

I agree so much, I invested 13 BTC in ASIC when it still had to be deployed. When ASIC was deployed, old deposits benefited from ASIC as well. ASIC didn't last long and now with the new infrastructure the 1st generation ASIC deposits are left behind. I feel like I'm in a gap between early adaptors and the new deposits and that I am least likely to see my bitcoins ever again.

I have finally received my 0.01 btc back!

This is just so sad, I invested 10+ btc may 2012, and what I get is 400ish satoshi a day... You should show a little more respect for your early customers.
 You have to figure out a better plan then the current one.. :/ or give me a better deal to sell back my account..

Considering he is going on deposits rather than accounts, that hashing power will be bouncing around quite a bit. If its possible, I would prefer our deposits get assigned a #, along with the stat of completed deposits that used to be on the front page. This would make it easy for us to deduce how many deposits are between whats just completed and ours.

We have found multiple blocks over the past 5 days have yet to see earnings rewarded from it.
Wondering whats going on.

Along with those stats, you should try and add an estimated time to our profiles as to when the "oldest 10 deposits" will reach our accounts. That's something like the total amount of btc to be rewarded to the accounts above us divided by btc/day, crudely.

I'd like to know I'f I'm waiting 6 months to get more than just xx satoshi's a day, or if I'm waiting 6 years for that.

Can you give a stat that gives an indication of number of accounts above your one, or of expected time till the extra hashing will hit your account.  I think that it really depends upon your definition of 'huge account' to be able to say that there are not many.  I know of at least 10 that I would consider huge and with current difficult level and hence earnings, I think anything with more than 20 BTC currently remaining, can be considered huge.  Even with 'only' 20 BTC, it would take more than 10 days to clear out and that is assuming the entire 30 THash is dedicated to that account!

"huge" accounts are very few, fortunately, so the "10 oldest deposits" will not be filled by those ones. I am working on the new version of the site where there will be some stats available. However before dedicating too much time to the site, I want to finish installing new hardware. We are at ~23TH/s and in about ten days all 30TH/s will be deployed.

I did some exploring in the accounts above me and I found a couple of 2000btc deposits, but they did have a decent % completed.
When I feel like delving into it, I am going to find a few hundred accounts and log their balance and completion %, but, even going off my initial unscientific math, and adding some fudge factor, its possible that the average completion is is 50% or so across the board.
I also ran some other #s and came up with an average account balance of 4.43 and average deposit size of 1.31.
Again, this is back of napkin math with publicly available #s.

I am fine with the hardware being split by X deposits, but considering the extremely large deposits still to finish, maybe he will see fit to increase the split to 20 or 30, that way there is a better chance of the smaller deposits getting some attention and as they finish then the hardware can be aimed at the early giant deposits, they have more than made a profit at the current exchange rate.

Above me, there are several accounts with hundreds of BTC and which still have a long way to go to be complete.  As the whole Pyramining enterprise is generating a couple of BTC every few days, this will take literally years at current difficulty, and this makes no account for increasing difficulty or other accounts that are older than mine, which are not directly above mine (and mine date from mid 2012).  This is why I did not agree with the concept of applying high hash rate to only 10 accounts and not across the board.  Very few people will ever see any benefit from this.

How many years is the ROI now ?

He said it's based on oldest deposits.
I don't think we will have to wait as long as we think we will.
Before the old hardware went negative, deposits were being completed daily. A very unscientific poll of the accounts above me says the average % completion is 70%. Again, this is for the ones above me, so I can't say that it applies sitewide.

The only potential issue that crosses my mind is if there are enough "large" deposits that eventually the 10 is full of deposits that take awhile to clear out.

Pyramining: Any chance we could get some stats on the site, or just some #s from you that would allow us to guesstimate when we might see our deposits hit the queue?