Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 53. (Read 318060 times)

And what about manual withdrawal? For security reasons wouldn't it be possible choose the destination address, of course.
In this case it would be possible to keep high the bitcoins automatically send (0.5? 1 BTC?) and use small transactions only if the user needs them.

In order to authorize only legitimate requests is possible to ask users the signature of a random generated token using the output address. (Sorry to who's using exchange addresses as output address ;p (like me ))



(sorry for my English)

hi, I'm happy to hear about prospective

i have 5 account linked

n°     deposited    interest

1          10btc        2.5 btc

2          10btc        2.5 btc

3          10btc        2.5 btc

4          10btc        7.6 btc

5          61btc        9 btc


is it correct? I suppose there is some problem, how it's possible 1,2,3 have the same revenue?

Its not all about the psychology of it. It affects compounding as well. It also allows for him to invest more in hardware at a more rapid pace, because you dont have all that money sitting in limbo.

Here's an idea to make pyramining money/investments more efficient (by a little bit at least) and reduce block chain spam + pyramining wallet bloat (and can be applied to existing accounts very easily -- conceptually --)

Directly link, chained accounts together ( withdrawel address == another accounts deposit address), at account creation a user could enter a BTC addy or an upstream account to link to, existing accounts could be scrubbed for this with a script daily/weekly.  The benefit is that these transactions could be handled by the DB on the backend avoiding fees, blockchain spam and pyramining wallet bloat (in the form of transaction volume).  I would venture to guess that a great number of pyramining accounts are chained together and this could make the whole system a little more efficient.  Pyramining could also offer a benefit to chained accounts (back portable) in that pyramining fees only get applied to exit accounts making the system a little more desirable to current and future users.

For smaller deposits it makes more difference. If someone threw in 0.5 BTC and has to wait two years (currently, this should get better) until their deposit is 20% of the way along it's a lot more noticeable than for someone who's got 100 BTC and still gets something out every few days. I would argue (without any concrete evidence) that most deposits are relatively small, 1 BTC or under, and that this will likely be even smaller average deposits in the future with the increased price of bitcoins.

Besides, anything that has to ask for money is going to run on warm fuzzy feelings. If people get enough warm fuzzies to deposit with pyramining then everyone wins and the average hash rate goes up.

Also concur, the only advantage of lowering further is the warm fuzzy of seeing money flow and we don't need a warm fuzzy it's just a known fact that mining has gotten extremely competitive and we're behind the curve at the moment.  The mild fringe benefit of lowering payouts would be to causing micropayments on chained accounts initiating the purchase of new hardware but if pyramining has a January plan with a 28nm producer (my guess is Cointerra, but just a guess....) then those payments would serve the pool better waiting for when they would buy that tech.  Honestly I wish we had never dropped from 1 BTC payouts due to block chain spam etc.

I'm for lowering threshold too.

WTF guys, seriously? Hey, why dont we make the payment 0.00001? Would that make you feel any better? If bitcoin would be worth over $1000, I would agree with you, but right now, it doesn't make any sense to me.

I'd definitely be up for having the threshold lowered, it could also be made a percentage of the account size. If payments were made at a set time instead of as each account reaches payout it could be done with multisend to cut down on transactions and chain spam.

Maybe sending a certain amount of Bitcoins, e. g. to set the cashout to 0.05 BTC send 0.05123.

I am with the drop to .05, but .01 would cause way too much blockchain spam, something we need to consider for the future of bitcoin.

Unless he could implement a way for us to choose our min payout threshold, I dont see this as a security risk because the accounts are locked.

Or at least .05

BTC prices are ~3x higher than what they were when the payout threshold was lowered to .1

Yeah, then you could experiment with lower amounts and try out the system before putting any substantial amount in it.

I vote for the payout threshold to be lowered to .01 BTC

Directly from their http://pyramining.com/faq

Technical part was for everyone. There is a lot of variables, amount of bitcoins, and number of referrals. Ultimately this is pyramining's website, I can't wait for a statement on this theory but I doubt anything.

Thank you for your updates. It's good to know you're working hard on it

Pyramining has already posted that the current hardware will remain profitable until the network reached 12petahashes, approximately 3x the current hashrate.

He also posted to let us know that he inked a deal with a 28nm asic producer that will bring 30ghs/btc online by end of Jan. Hopefully with bitcoin skyrocketing that # will go up.

can pyraming mine on ghash.io? 0% fee and 50 payouts per day

Just wondering if OP can move the mining from BTC to PPC?

But you don't see how business works. I took the biggest risk, unless you signed up 1st day, cause I signed up like the 2nd or 3rd day. Who knows what could have happened during that time. Just like you invest in a company, the first people to invest get the biggest share of the company, at a low cost. Cause the risk at that time is just so great and the market is untested. So what you guys are now saying and calling me a "greedy pig" isn't true at all. I technically paved the way for you people to come and safely depositing your coins, cause you knew at the time it was safe and it made money. I am looking at this purely that we are all investors and this is how the world works. Sucks for you guys, but I don't know why my profits should be given up, when you all clearly knew bitcoin difficult rises, pyramining would develop ASIC miners, and hardware is expensive and hard to build.

See this is why I hate this part of the ecosystem of bitcoin. Bitcoins have turned everyone into wantabe investors. Wantabe investors have never invested a cent before getting into bitcoins. They want the company to make good on their investment, that isn't how the world works. Take it from me some investments don't pay off, and you know what you do, you invest in other places and try to make back what you can. Investors sometimes go completely broke. This is life, this is how business works. It sucks you all got sucked into this investment thinking tomorrow you were going to get your money back, but lets be far and say the real investors that made money deserve and not name call them.

Pyramining is working correctly as they should be the top people that took the most risk, will get paid out first and you all have wait. It is even better to be in the middle, cause when I get paid out, my GH/s will be divided by you guys and speed you guys up, making a new tier of top users to call "greedy pigs". Even one day you will all be in that position.