Since, forcing people to invest is unethical, I think you should incentivize investing.
My proposal is a mix. 50% of your bitcoins go towards the pool, you get the pool rate for infrastructure. The other 50% goes to the current infrastructure rate. With the pool rate your hashrate will go over time, you'll also be helping other pool members. With the other 50% your hash rate will not grow but you'll be getting a lot more in the short term. And because of this program more people will invest making the pool more sustainable. What's great about this site WAS the fact that its sustainable. Convenience drew in customers. Now the price cost of investing is so much more (you get 10% value) that there is little reason to invest here. Which means its not sustainable, the more unprofitable it gets the more unprofitable it gets faster, growth is needed to sustain this business.
The other way is for people to invest because they want to support this site. that's charity. Except that pyramining is investing anyways. So this guaranteed investment from pyramining is great for him and for our investment. But, we can't only depend on that, the site needs growth orelse the hash rate will run away.
Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 55. (Read 318060 times)
October 29, 2013, 09:14:11 PM
October 29, 2013, 09:10:41 PM
I know, many don't like to here this, but maybe at some point the focus should be shifted from making a profit to give every Investor his money back = skip the bonus for all accounts. Or when an account is at 100% pause it until all current accounts had their original investments returned and then work off the bonus.
It's not about forcing someone to reinvest
But thats exactly what the debate was about. If you look back at previous posts thats what was proposed.
October 29, 2013, 04:26:36 PM
I know, many don't like to here this, but maybe at some point the focus should be shifted from making a profit to give every Investor his money back = skip the bonus for all accounts. Or when an account is at 100% pause it until all current accounts had their original investments returned and then work off the bonus.
It's not about forcing someone to reinvest
October 29, 2013, 03:47:10 PM
Gweedo is right. Pyramining is working as advertised and as intended. Difficulty has increased and some people have got stung.
You cannot force people to reinvest their payouts if they don't want to. Those o you proposing a 90% tax on payouts, to be reinvested should reinvest your own payouts. No one is stopping you. Why should other people be forced to reinvest to ensure you get paid out earlier?
We all knew the risk when we invested. Its too late to complain about it now.
You cannot force people to reinvest their payouts if they don't want to. Those o you proposing a 90% tax on payouts, to be reinvested should reinvest your own payouts. No one is stopping you. Why should other people be forced to reinvest to ensure you get paid out earlier?
We all knew the risk when we invested. Its too late to complain about it now.
October 29, 2013, 02:20:54 AM
Technically you are right. No question there, but if you can't see the point that you already have made a profit and without the new investors less, so pausing your profit until they are at least paid back, would be fair, then, well this:
greedy as f***
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.
I signed up within the first 4 days of this service (at least this thread was 4 days old). The reason why you are in the profit are is not because you signed up early, unless accounts made about 50% Return in the first 4 days. You are not in a profit position because you invested early, but because you most likely got many/huge deposits through you referrals.
And I'm not arguing the Technical point. The rules where clear. But with the current return Time we are at a point where nobody but the top 1% will even see their basic Investment back. I'm not talking about who makes profit when, but damage reduction to soften the hurt for everyone.
October 29, 2013, 01:56:48 AM
If I signed up to a site that says I am suppose to get X returned + Y% and it doesn't deliver on that promise then it is a scam, and I am in the position to say that, cause most people would agree with it.
Most people will not agree with it.
Pyramining never said you would get X + Y%. He said you would get mining hardware that was expected to generate X + Y% under the business model that he explained as clearly as he possibly could. Nobody has been scammed if they don't get paid X + Y%. Not early investors, not late investors, not anybody.
October 28, 2013, 09:34:03 PM
Technically you are right. No question there, but if you can't see the point that you already have made a profit and without the new investors less, so pausing your profit until they are at least paid back, would be fair, then, well this:
greedy as f***
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.
+100000000000000000
October 28, 2013, 06:26:13 PM
@greedo 
: Troll or just greedy as f***? Because of early FPGA investors the ROI time for everyone went to ''da moon''!
Most FPGA investors wouldn't have nearly reached ROI without the Asic investors!
You said you got your investment+ interest back already, so what's the point? Yeah, you are totally in position to scream: ''scaaaaaaaam!'' 
: Troll or just greedy as f***? Because of early FPGA investors the ROI time for everyone went to ''da moon''!Most FPGA investors wouldn't have nearly reached ROI without the Asic investors!
You said you got your investment+ interest back already, so what's the point? Yeah, you are totally in position to scream: ''scaaaaaaaam!''
If I signed up to a site that says I am suppose to get X returned + Y% and it doesn't deliver on that promise then it is a scam, and I am in the position to say that, cause most people would agree with it. If pyramining changes those terms then I should have to agree to them again or I should be brought of rest of my earnings. I don't see how I am greedy I invested early on, I took a risk. They could have taken my coins and not delivered. I deserved to be rewarded for that. You came after it was deemed a good investment, I am sorry you didn't research it out like I did.
Technically you are right. No question there, but if you can't see the point that you already have made a profit and without the new investors less, so pausing your profit until they are at least paid back, would be fair, then, well this:
greedy as f***
October 28, 2013, 05:47:00 PM
Pyramining needs to invest part of the funds into next gen, and the rest at cex.io
IF/when next gen is ready for a large investment, he can pull the funds out of cex.
This is the only way I see at the moment for some ground to be made up. cex at the moment charges no fees.
There is a way to have earnings paid out automatically so the whole system stays hands off as it is now.
Just my 2 bitcents...
IF/when next gen is ready for a large investment, he can pull the funds out of cex.
This is the only way I see at the moment for some ground to be made up. cex at the moment charges no fees.
There is a way to have earnings paid out automatically so the whole system stays hands off as it is now.
Just my 2 bitcents...
October 28, 2013, 05:24:00 PM
I have a question regarding accounts. Can a person request a refund from deposits if willing to forfeit earnings?
Obviously no.
Pyramining bough/developed harware with your money; he has no money to give you back.
October 28, 2013, 05:00:13 PM
@greedo : Troll or just greedy as f***? Because of early FPGA investors the ROI time for everyone went to ''da moon''!
Most FPGA investors wouldn't have nearly reached ROI without the Asic investors!
You said you got your investment+ interest back already, so what's the point? Yeah, you are totally in position to scream: ''scaaaaaaaam!''
: Troll or just greedy as f***? Because of early FPGA investors the ROI time for everyone went to ''da moon''!Most FPGA investors wouldn't have nearly reached ROI without the Asic investors!
You said you got your investment+ interest back already, so what's the point? Yeah, you are totally in position to scream: ''scaaaaaaaam!''
October 28, 2013, 02:23:37 PM
Yes lets do this and HURT THE EARLY ADOPTERS LIKE ME!!!!!! If they do this I would then consider them a scam.
Yea, you making profit is of course more important than giving people at least back what they invested. Considering the haling, pyramining has long past the point where people will even get a fraction of their investment back.
At some point it fairer to only work towards paying back the orginal investments. Besides EARLY ADOPTERS LIKE YOU would still be the ones that get payed back first.
But Greed knows no mercy I guess.
October 28, 2013, 02:17:16 PM
I have a question regarding accounts. Can a person request a refund from deposits if willing to forfeit earnings?
October 28, 2013, 01:54:47 PM
Pyramining, I'd want to request money back, at least 33% of it. Because bitcoin will die until I get back my investments. Now it costs around $200, after ten years it could be useless or cheaper than $1.
October 28, 2013, 11:59:16 AM
oh crap!
Break even: ~ 114 months
Complete reward: ~ 125 months
Break even: ~ 114 months
Complete reward: ~ 125 months
Hm, seems like this basically says "Game Over" for now.
I know, many don't like to here this, but maybe at some point the focus should be shifted from making a profit to give every Investor his money back = skip the bonus for all accounts. Or when an account is at 100% pause it until all current accounts had their original investments returned and then work off the bonus.
+1
Please consider this Pyra!
October 28, 2013, 10:45:23 AM
oh crap!
Break even: ~ 114 months
Complete reward: ~ 125 months
Break even: ~ 114 months
Complete reward: ~ 125 months
Pyramining, how close are we to being unprofitable?
I guess electricity purchased with Euros doesn't cost many bitcoins, but I am worried that we are close to the point where it doesn't make sense to run our hardware anymore...
Are the FPGAs still profitable to run? I cannot imagine that they are.
October 28, 2013, 10:37:21 AM
It is now evident that:
even if you create a new superultrapowerful generation of new ASICS, new investors will not be enough to increase GH/BTC ratio for everybody
completion of old accounts is too slow to make pyramining profitable again
Is there some kind of plan B?
even if you create a new superultrapowerful generation of new ASICS, new investors will not be enough to increase GH/BTC ratio for everybody
completion of old accounts is too slow to make pyramining profitable again
Is there some kind of plan B?
October 19, 2013, 08:59:36 PM
maybe it is a good idea to freeze the hashpower to all deposits on 265 MHs / BTC.
And all new deposits get the full asic hashpower. that would generate a lot more new deposits.
In the moment it makes no sense to pay 1 BTC for 265 MHs, when you get on CEX more than 7000 MHs/BTC (=30*pyramining)
And all new deposits get the full asic hashpower. that would generate a lot more new deposits.
In the moment it makes no sense to pay 1 BTC for 265 MHs, when you get on CEX more than 7000 MHs/BTC (=30*pyramining)
Actually it makes perfect sense, cause on CEX you are paying for the futures, in the future when the chips are delivered you are hoping 7000 MHs will be profitable. You are betting the difficulty is going up but not too much. With pyramining you are getting 265 MHs right now and you are paying for someone to buy the mining equipment and set it up on behalf of you, two very different things.
October 28, 2013, 10:08:50 AM
oh crap!
Break even: ~ 114 months
Complete reward: ~ 125 months
Break even: ~ 114 months
Complete reward: ~ 125 months
Hm, seems like this basically says "Game Over" for now.
I know, many don't like to here this, but maybe at some point the focus should be shifted from making a profit to give every Investor his money back = skip the bonus for all accounts. Or when an account is at 100% pause it until all current accounts had their original investments returned and then work off the bonus.
Or maybe force 90% of everyones bonuses into reinvestments into increasing hashrate? With the 90% taken from the first and next payments. I agree with what Pyra said that new hardware doesn't currently look profitable and these 90%'s should be saved up until February prices are announced. Or possibly for an early day one pre-order of KNC generation two products which are due to start shipping in March/April. Unless December KNC Jupiter prices announced at =<$2,000. The 90% saved could be added to the depositors accounts but keep taking the 90% of the bonus again to add new cheaper hardware until better days. Then the 90% taken from everyones bonus which is forced into new deposits could start be tapered off when things start to improve.
October 28, 2013, 10:04:49 AM
oh crap!
Break even: ~ 114 months
Complete reward: ~ 125 months
Break even: ~ 114 months
Complete reward: ~ 125 months
Hm, seems like this basically says "Game Over" for now.
I know, many don't like to here this, but maybe at some point the focus should be shifted from making a profit to give every Investor his money back = skip the bonus for all accounts. Or when an account is at 100% pause it until all current accounts had their original investments returned and then work off the bonus.
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