investing earnings from cex in pyra.
At this juncture for the time being that would be my recommendation if desire to invest in both places.
It is pointless to invest in both at this juncture. He has activated another queue for pyra deposits. With cex they will start earning the minute they buy ghs.
Looking at this situation as you would decide where to invest usd/eur/gbp etc, the smart move at the moment is cex.
However even the ghs at cex are over priced. It is a market afterall, I would buy some ghs now to start earning and put some buy orders in at .06 and lower. That way they start earning now and earn even more when it inevitably drops further.
I was just agreeing that depositing initial investment to cex and rolling earnings into pyramining is the better option of dual investment if it was to be done. However, with that said I don't honestly feel that cex is overpriced until cointerra starts delivering and even then I'd still expect cex to demand a higher premium which is worth it IMHO if nothing else due to the convenience it offers. There is no other source of mining on the planet right now which is as convenient as cex, the ability to get in and out, buy and resell hash rate at or near purchase cost is worth a premium up front cost. If you take that convenience out and only compare buying direct hash rate mining equipment or any other group hash rate investment that exists then sure it's "overpriced" but the value of that convenience significantly outweighs the cost of all other mining options out there (at least until cointerra starts delivering IMHO).
Taking a mining source like cex and rolling earned BTC into pyramining is IMHO the best form of duality because your initial investment is far more liquid and you can theoretically reach ROI on the initial investment when you cash out even if you roll 100% of your earnings into pyramining, thusly pyramining is just an investment of profits.
All that said and done, what still really needs to happen is to see where pyramining is going to take it's service in the future and any restructuring that may happen to help increase the value and ROI on existing and new deposits, so if picking only a single investment between the 2, I'd say hedge investments into cex until these things are announced and implemented. IMHO, the #1 priority for pyramining is to provide partial permanent ownership (30/70, 50/50, 70/30 ... whatever of deposits funneled into a permanent never reduced deposit), and #2 confirm and roll out boosted hash rates for all accounts + get the GHs to $ rate much closer to cointerra's offering as soon as possible because while cex can charge a premium for convenience I don't feel pyramining can afford to do that for some time at least until ROI time is greatly reduced.
Outside of those fundamental concepts, making the whole system more efficient with fee reduction, reduced transaction bloat (operating expenses from unnecessary wallet transactions and wallet size, transaction fees, etc are impacted here), and the addition of merged mining (as a way to increase overall bitcoin return or IMHO the best option would be to reduce/eliminate pyramining fees all together by allowing pyramining to use merge mined income to cover expenses, profits and upgrades) and finally reconsider p2pool which while the technology is outstanding and a noble pursuit by all in bitcoin the pool has fallen largely out of favor and thus it's market share causes such high variance that all users/pools backed by it are experiencing massive consumer dissatisfaction, to continue supporting distributed mining pyramining might want to take a look at eliopool, the distributed pooling software backing eligius which has a much higher hash rate than p2pool and thus more favorable variance rates or sadly revert back to a more direct mining pool of which ghash.io ironically would be an ideal candidate now that they are offering merged mining proceeds, 0% fee and one of the lowest variance pools out there at the moment.
I base cex being overpriced on time to produce a positive roi. I also run simulations on reinvestment @ different percentages and price points. I also base it on btc returned, not its conversion into fiat. @ at average difficulty increase of 25% and ghs priced where it is, it never returns a positive roi from mining.
Now that is obviously a close to worst case scenario, and it doesn't account for the inevitable leveling off of increase in difficulty.
Here is a spreadsheet I have been using.
I didn't create it, but it is sweet.
http://goo.gl/xrLswhI do agree with you in splitting it between the two, but why would you lock money in pyra now, when you could get a return now from cex, and when the new hardware is brought online, then start bringing the money into pyra, I have no doubt that pyra will bring the ghs/btc lower than cex at some point. Cex is a market driven price, as long as the customer base keeps growing, the price will hold as more people get in.