Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 5. (Read 318060 times)

There is a place like this in the world? lol

Which kind of risk in the new accounts?

In his response to my PM he stated that he is looking to move the hardware somewhere that a certain amount of power use is free, after that I think it will cost. And yes, he is working on a new chip design. He is also not considering new accounts at the moment, sees it as high risk at the moment.

If its ok with pyra, I will post his pm here, but only if he oks it.

TK Pyra

energy to 0 is still impossible lol but I trust in you lol

have you plan to relocate your activity or new generation chip by yourself?


Have you consider to reopen for new accounts?

Do you have some death  line for us?


Happy New Year

You responded to my pm, so, thanks for the update.
I will send a bitmessage again as a test to see if it works.

In case there is an issue on my end somewhere, if anyone in this thread wants to send me a message you can send it to,  BM-NB61u8c5qsHyXqk33itFfABKwXzDFAuL

There is a fix to his moronity, it costs 21000001 BTC.

Never, ever, underestimate the level of existence of morons, nor the level such moronity (is that even a word?) exists at.

=squeak=

FYI:


BTW: I know how to fix it, just didn't need it until now because I didn't think such morons exist.

Pyra...

it isn't so much about patience,  but with so many sites and people, just up and apparently disappearing with no word, or even acknowledgement of their existence, (like CryptoStocks/VircureX, BitChest, and others lately) it just makes us concerned.

We do like to see some activity, as this is really the only visible place to see any, even if it is just a bi-weekly "Hi, all! Things are still working fine with no problems to report the past couple weeks. Hope all is well with you guys and Happy New Year!" type of a thing, and you go back to your usual life.

It is a small thing, but it counts for a lot just to be visible.

Happy New Year, Pyra! o/

=squeak=

Bitmessage not received, please check that it has been sent correctly, or resend it.

I am working behind the scenes on new hardware, with some plans to reduce power costs to almost zero.

Because of energy costs, in this period of time with a low value of bitcoins the mining activity is not very productive. Need some patience.

The site is currently not available because we're under DDOS. It will be reopened when the guy behind gets tired of sending a bunch of gigabit/s of trash to the webserver.

I have sent him a message via bitmessage as well as a pm here, and have yet to get a response.

Hi Pyra,

I'll be glad about some news update!

About new efficient chip in development,

About your plans for all the piramyning architecture, and if you are planning to reopen the possibility to open new accounts!

TK

And yes, I would have been better off keeping the bitcoins in my pocket...  but hindsight is 20/20, and prophecy is impossible in the world of money.

I'm sure you're thinking of a 10% return in 2 years, not 110%.  Except that 10% in 2 years is absolutely exceptional.

Most mutual funds managed by The Vanguard Group have a 10% return in 5 years.  This is some serious money in some of the hottest growth sectors, coupled with a couple of advertising tricks common to mutual funds that artificially inflate the return statistics.

https://investor.vanguard.com/mutual-funds/vanguard-mutual-funds-list

Let's take my main Pyramining account into consideration here...  http://pyramining.com/account/browse?id=6nak28t7

I've got an average completion of 3% on 1.53btc.

The day I joined, July 21st, 2013, the price was $85/btc at coindesk.

Assuming (incorrectly) that I deposited all of my bitcoins on that day, that means that I would have paid ~$130.

Today, that 1.53btc is worth ~$482.

That is a 370% increase in value over one and a half years.

However, since I deposited my money into Pyramining, this means that I have $15.75 available, from the 0.05btc that I've been paid.  (Don't worry, I re-invest it into another Pyramining account further up the chain. I'm not foolish.)

That means that over a year and a half, I've gotten 12% ROI.

That is exactly in line with the top performing mutual funds at the top performing mutual fund company... without the bullshit tricks that mutual fund managers use to make their funds looks more profitable in retrospect.

I can expect 100% ROI in 10 years, a whole 10 years shorter than billionaires typically expect their 100% ROI.

exactly, and 110% return in 2 years  is not a fantastic profit

How much would you have made if you bought a Block Eruptor?

The problem is when you don't reach the minimum...

Not sure if this is a Poe or not...  If so, nice one, it's a great touch to completely fail to capitalize.

If it's not a Poe...  well...  ignore my jibe about capitalization, since that's really not part of the conversation.

The rest of my post assumes that this isn't a Poe.  (I really can't tell if it's a Poe or not, so if it is, congratulations!)

When Pyra cashes out the bitcoins so that he can pay for the mining equipment, the rent, and the electric bill, he has to convert it to fiat currency.  (He happens to convert them to US dollars).

Within days of getting your deposit, it has a set price.  Today, that price would be around $320, depending on the exchange.  2 years ago, that was $13.

Pyra also can't travel to the future to pick up equipment that hasn't been made yet.  This means that 2 years ago, Pyra was buying FPGAs.

$13 worth of FPGA equipment 2 years ago would have brought anyone about 40MHash/sec.

Today, that $13 would buy an ASIC, and would earn you about 19.2GHash/sec.

1 bitcoin 2 years ago gave Pyra the ability to buy 40MHash/sec.  Today, 1 bitcoin gives Pyra the ability to buy 480GHash/sec.

Yes, the price of bitcoins has changed over the past 2 years.  If Pyra had somehow created the mining pool without spending any BTC at the market prices that were available at the time, then perhaps it might be somewhere close to possible within some related alternate reality that we'd consider the investment purely in BTC.

However, the fact that Pyra has promised an eventual 110% return on the BTC without adjusting for fiat conversions is already well above and beyond the call of duty.

no, you have to consider the investment in btc non in euro!

Also, I just noticed this line...

Which means that if you sell now, you can get $14.56 worth of BTC back.

You can double your investment today!  With the 0.04 you've already been paid, your $13 worth of BTC from 2 years ago can now be worth $27!