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)
Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 57. (Read 318060 times)
October 19, 2013, 06:45:36 PM
October 19, 2013, 05:45:44 AM
Does someone know some specs about the Pyramining-Asic?
October 18, 2013, 12:39:13 PM
Remember, A lot of people roll their earnings into upstream pyramining accounts, this program will likely hit several of those so your BTC still goes toward new hardware purchased. Secondly, you are assuming 100% to a single account, but missing that you will potentially wipe out several accounts, some which could have disproportionately large bonus mining rates and Thirdly, the oldest accounts would tend to be closest to the end of the pyramining chain (a head node account for lack of a better word), cleaning them out gets other accounts closer to head node status.
I agree it would be a ponzi if this were mandatory and happened in secret, what I'm proposing is a voluntary system which clients of pyramining could choose to participate in this by definition isn't a ponzi.
I agree it would be a ponzi if this were mandatory and happened in secret, what I'm proposing is a voluntary system which clients of pyramining could choose to participate in this by definition isn't a ponzi.
All this changes nothing on the overall situation. Pyramining would still have 10% of this deposit more BTC to mine that added no new Hardware.
In the best case, where this would only hit redeposit accounts the same amount of Hashing Power than with a normal Deposit would be added, but now 2*10% would have been added as bonus. Still worsening the overall Situation.
Just assume Pyramining would still need to mine 1000 BTC (If a 1000 BTC account is at 99.5% it also only adds 5 BTC to this) for all accounts to be completed. If someone now deposits 100 BTC that are used to repay open accounts early. After this the overall amount that needs to be mined is 1010 BTC, while no new Hardware has been added.
Yay! For the people that got their account repaid early, but for all left the situation is now worse.
Hear Hear...
What people arent realizing is that the way he has this designed, its better to just let the system work and pay off deposits. As pyramining has said, right now its lopsided with asic investors buying hardware for the older deposits who were invested in fpga, however, once the fpga deposits are finally paid off and the newest tech likely 28nm asics come online, then it will be the those deposits buying the hardware for those of us that preordered asics. So it will turn to an advantage for us "newer" investors just as it turned advantageous for the original fpga investors.
Hopefully sometime soon we will get a small break in difficulty jumps.
October 18, 2013, 06:12:09 AM
Remember, A lot of people roll their earnings into upstream pyramining accounts, this program will likely hit several of those so your BTC still goes toward new hardware purchased. Secondly, you are assuming 100% to a single account, but missing that you will potentially wipe out several accounts, some which could have disproportionately large bonus mining rates and Thirdly, the oldest accounts would tend to be closest to the end of the pyramining chain (a head node account for lack of a better word), cleaning them out gets other accounts closer to head node status.
I agree it would be a ponzi if this were mandatory and happened in secret, what I'm proposing is a voluntary system which clients of pyramining could choose to participate in this by definition isn't a ponzi.
I agree it would be a ponzi if this were mandatory and happened in secret, what I'm proposing is a voluntary system which clients of pyramining could choose to participate in this by definition isn't a ponzi.
All this changes nothing on the overall situation. Pyramining would still have 10% of this deposit more BTC to mine that added no new Hardware.
In the best case, where this would only hit redeposit accounts the same amount of Hashing Power than with a normal Deposit would be added, but now 2*10% would have been added as bonus. Still worsening the overall Situation.
Just assume Pyramining would still need to mine 1000 BTC (If a 1000 BTC account is at 99.5% it also only adds 5 BTC to this) for all accounts to be completed. If someone now deposits 100 BTC that are used to repay open accounts early. After this the overall amount that needs to be mined is 1010 BTC, while no new Hardware has been added.
Yay! For the people that got their account repaid early, but for all left the situation is now worse.
October 18, 2013, 05:34:03 AM
Secondly, another feature would be a "buy-back" program of old pre-asic accounts. How it might work: Pyramining enables a deposit feature like his asic pre-order program with deposits of X.XXXX1111 whenever a new deposit is made in this fashion instead of buying new hardware it pays down a pre-asic account starting with the oldest accounts first. This would help get ROI improved for everone since the really old deposits which are burdening pyramining is a significant part to blame for slow ROI. It's a win-win as old deposits get ROI quicker and new deposits ROI time is improved by cleaning out the old deposits and if those feed into other accounts they also cause new hardware to be purchased(which is a win-win-win lol). The key with this is that it has to be voluntary, not mandatory or it seems scam-ish
I support this
No, this brings nothing. When someone buys back an old account, the amount that still needs to be mined would increase by 10% of this buyback, while no new Hardware is added.
Example: When I deposit 100 BTC I expect to get 110 BTC back. If my 100 BTC are used to give them directly to old investors the overall amount that needs to be paid back increases by 10 BTC.
Also, this is called a ponzi.
Remember, A lot of people roll their earnings into upstream pyramining accounts, this program will likely hit several of those so your BTC still goes toward new hardware purchased. Secondly, you are assuming 100% to a single account, but missing that you will potentially wipe out several accounts, some which could have disproportionately large bonus mining rates and Thirdly, the oldest accounts would tend to be closest to the end of the pyramining chain (a head node account for lack of a better word), cleaning them out gets other accounts closer to head node status.
I agree it would be a ponzi if this were mandatory and happened in secret, what I'm proposing is a voluntary system which clients of pyramining could choose to participate in this by definition isn't a ponzi.
October 18, 2013, 05:07:10 AM
The big jump in difficulty was not kind to our investment:
Things are looking bleak.
Quote from: Pyramining website
Investing in Pyramining is indeed very profitable: the complete reward is estimated to be reached in less than 96 months.
Things are looking bleak.
No it wasn't "kind".
But what can we do about it? Continuing to post how bad its looking does nothing.
All we can do is let pyramining do his thing. He has more invested than any single one of us. He has plenty of incentive to do what he can to keep things going.
Don't forget that as deposits and accounts are completed their hashrate gets split among the remaining deposits.
You don't understand, at the rate deposits are currently being completed it won't even make a difference. The break even will just go up a bit slower. And the higher the breakeven goes the worse the investment rate is which means the breakeven gets even worse.
I hope you understand.
Also, yes there was a big jump in difficulty. But you also have to expect that there will be many more big jumps in difficulty in the future, so if new investments and deposits completing (deposits only complete if the breakeven + reward) isn't high enough then the break-even will go even higher.
I do understand more than can be demonstrated in a few words on a forum such as this.
You are correct, the breakeven time will keep increasing. However, at some point the difficulty rise will stabilize. It is a mathematical certainty. I have no idea how big the network must get before that happens, but it has to be sometime sooner than later, the network is at 2+Phs now. We were at 1Phs just 4 weeks ago. It will be twice as hard to get it to 4phs, 8phs, etc.
Although I am a bit curious how long until we are referring to the network in zetahashes...
October 18, 2013, 05:05:37 AM
Secondly, another feature would be a "buy-back" program of old pre-asic accounts. How it might work: Pyramining enables a deposit feature like his asic pre-order program with deposits of X.XXXX1111 whenever a new deposit is made in this fashion instead of buying new hardware it pays down a pre-asic account starting with the oldest accounts first. This would help get ROI improved for everone since the really old deposits which are burdening pyramining is a significant part to blame for slow ROI. It's a win-win as old deposits get ROI quicker and new deposits ROI time is improved by cleaning out the old deposits and if those feed into other accounts they also cause new hardware to be purchased(which is a win-win-win lol). The key with this is that it has to be voluntary, not mandatory or it seems scam-ish
I support this
No, this brings nothing. When someone buys back an old account, the amount that still needs to be mined would increase by 10% of this buyback, while no new Hardware is added.
Example: When I deposit 100 BTC I expect to get 110 BTC back. If my 100 BTC are used to give them directly to old investors the overall amount that needs to be paid back increases by 10 BTC.
Also, this is called a ponzi.
October 18, 2013, 04:41:15 AM
Secondly, another feature would be a "buy-back" program of old pre-asic accounts. How it might work: Pyramining enables a deposit feature like his asic pre-order program with deposits of X.XXXX1111 whenever a new deposit is made in this fashion instead of buying new hardware it pays down a pre-asic account starting with the oldest accounts first. This would help get ROI improved for everone since the really old deposits which are burdening pyramining is a significant part to blame for slow ROI. It's a win-win as old deposits get ROI quicker and new deposits ROI time is improved by cleaning out the old deposits and if those feed into other accounts they also cause new hardware to be purchased(which is a win-win-win lol). The key with this is that it has to be voluntary, not mandatory or it seems scam-ish
I support this
October 18, 2013, 03:15:38 AM
Question to pyramining!
do you have plan about new architecture 28 nm or less? I suppose in the next 6 months some one have it and your hw become surpassed! Other question... Total hashing power.... we need to improve it, 10% in a week is the minimum if we want to be competitive with the total hashing power increase... it is an hard balance between new hw and current!
do you have plan about new architecture 28 nm or less? I suppose in the next 6 months some one have it and your hw become surpassed! Other question... Total hashing power.... we need to improve it, 10% in a week is the minimum if we want to be competitive with the total hashing power increase... it is an hard balance between new hw and current!
October 17, 2013, 11:56:19 PM
If pyramining were to enable a permanent deposit feature i.e. 30% or 40% or 50% or 60% or 70% of each deposit rolls up into a single deposit which never ages and keeps receiving its respective share of the hashing power for as long as pyramining is viable I think uptake of pyramining would increase and probably pretty nicely.... Personally I think 60-40 is a good split, and also only on *NEW* deposits, not back ported to old deposits.
Secondly, another feature would be a "buy-back" program of old pre-asic accounts. How it might work: Pyramining enables a deposit feature like his asic pre-order program with deposits of X.XXXX1111 whenever a new deposit is made in this fashion instead of buying new hardware it pays down a pre-asic account starting with the oldest accounts first. This would help get ROI improved for everone since the really old deposits which are burdening pyramining is a significant part to blame for slow ROI. It's a win-win as old deposits get ROI quicker and new deposits ROI time is improved by cleaning out the old deposits and if those feed into other accounts they also cause new hardware to be purchased(which is a win-win-win lol). The key with this is that it has to be voluntary, not mandatory or it seems scam-ish
Secondly, another feature would be a "buy-back" program of old pre-asic accounts. How it might work: Pyramining enables a deposit feature like his asic pre-order program with deposits of X.XXXX1111 whenever a new deposit is made in this fashion instead of buying new hardware it pays down a pre-asic account starting with the oldest accounts first. This would help get ROI improved for everone since the really old deposits which are burdening pyramining is a significant part to blame for slow ROI. It's a win-win as old deposits get ROI quicker and new deposits ROI time is improved by cleaning out the old deposits and if those feed into other accounts they also cause new hardware to be purchased(which is a win-win-win lol). The key with this is that it has to be voluntary, not mandatory or it seems scam-ish
October 17, 2013, 11:16:34 PM
Looks like somebody still thinks this project is worthy:
Total hashing power: 4.7TH/s
Complete reward: ~ 87 months
I´d like to personally thank this to anybody who is contributing to keep this running, is almost all I can do. I already deposited almost all my coins during the ASIC implementation campaign and cannot afford to keep reinvesting.
THANKS to the people who do can.
Sincerely.
Total hashing power: 4.7TH/s
Complete reward: ~ 87 months
I´d like to personally thank this to anybody who is contributing to keep this running, is almost all I can do. I already deposited almost all my coins during the ASIC implementation campaign and cannot afford to keep reinvesting.
THANKS to the people who do can.
Sincerely.
October 17, 2013, 09:44:24 PM
The big jump in difficulty was not kind to our investment:
Things are looking bleak.
Quote from: Pyramining website
Investing in Pyramining is indeed very profitable: the complete reward is estimated to be reached in less than 96 months.
Things are looking bleak.
No it wasn't "kind".
But what can we do about it? Continuing to post how bad its looking does nothing.
All we can do is let pyramining do his thing. He has more invested than any single one of us. He has plenty of incentive to do what he can to keep things going.
Don't forget that as deposits and accounts are completed their hashrate gets split among the remaining deposits.
You don't understand, at the rate deposits are currently being completed it won't even make a difference. The break even will just go up a bit slower. And the higher the breakeven goes the worse the investment rate is which means the breakeven gets even worse.
I hope you understand.
Also, yes there was a big jump in difficulty. But you also have to expect that there will be many more big jumps in difficulty in the future, so if new investments and deposits completing (deposits only complete if the breakeven + reward) isn't high enough then the break-even will go even higher.
October 16, 2013, 03:02:03 PM
I am wondering when I can expect to get my rewards? Also is there a way I can withdraw my coins? user name is zb3crgpn
October 16, 2013, 03:01:03 PM
The big jump in difficulty was not kind to our investment:
Things are looking bleak.
Quote from: Pyramining website
Investing in Pyramining is indeed very profitable: the complete reward is estimated to be reached in less than 96 months.
Things are looking bleak.
No it wasn't "kind".
But what can we do about it? Continuing to post how bad its looking does nothing.
All we can do is let pyramining do his thing. He has more invested than any single one of us. He has plenty of incentive to do what he can to keep things going.
Don't forget that as deposits and accounts are completed their hashrate gets split among the remaining deposits.
October 16, 2013, 02:38:41 PM
The big jump in difficulty was not kind to our investment:
Things are looking bleak.
Quote from: Pyramining website
Investing in Pyramining is indeed very profitable: the complete reward is estimated to be reached in less than 96 months.
Things are looking bleak.
October 15, 2013, 02:30:42 PM
We need more hashing power!
This.
The complete reward time is up to 68 months because the premise of the site's economy is that mining hardware we buy will have an ROI greater than 110%, which allows it to pay back the original investor then work for others in the pool. Unfortunately, we have a lot of old FPGA infrastructure still running that is hardly generating any profit at all, and that will soon become (is already?) unprofitable to run. Our new ASICs equipment is competitive, but it is diluted more than 1:10 by old FPGAs.
We need a lot of new investment to come online very soon to turn this around.
Without new investment this site will die. As the complete reward time is a lot more than 68 months if you account for increasing difficulty. Basically you would need to restart the site and I really think there are better options.
There already is a decent amount of "new" investment in the form of accounts feeding into each other. You can see this with active deposits increasing as payouts happen. What we need and what I believe will keep happening is pyramining buying more hardware and or using bitfury's new exchange to purchase hashing power.
Whether we see a return in 5 years or 50 is all dependent on how fast the difficulty increases and how well pyramining can keep up with it.
October 15, 2013, 01:04:22 AM
So i give some of my earned btc from casinos, would it help?
October 15, 2013, 12:06:46 AM
We need more hashing power!
This.
The complete reward time is up to 68 months because the premise of the site's economy is that mining hardware we buy will have an ROI greater than 110%, which allows it to pay back the original investor then work for others in the pool. Unfortunately, we have a lot of old FPGA infrastructure still running that is hardly generating any profit at all, and that will soon become (is already?) unprofitable to run. Our new ASICs equipment is competitive, but it is diluted more than 1:10 by old FPGAs.
We need a lot of new investment to come online very soon to turn this around.
Without new investment this site will die. As the complete reward time is a lot more than 68 months if you account for increasing difficulty. Basically you would need to restart the site and I really think there are better options.
October 15, 2013, 12:05:51 AM
1. What we need, are more investments in pyramining.
But with complete reward time of 70 month, nobody will invest.
2. What we need, are deposits with real 2,5 GH/s.
So my proposal is:
If someone creates a new account, and the payout address of this new account is the deposit adress of an old account, than this new account gets the full hash-speed of 2,5 GH/s.
If you use the old account as sponsor for the new account, this will accelerate also the old account
So the minerhardware could grow, and everybody can benefit from this
But with complete reward time of 70 month, nobody will invest.
2. What we need, are deposits with real 2,5 GH/s.
So my proposal is:
If someone creates a new account, and the payout address of this new account is the deposit adress of an old account, than this new account gets the full hash-speed of 2,5 GH/s.
If you use the old account as sponsor for the new account, this will accelerate also the old account
So the minerhardware could grow, and everybody can benefit from this
My suggestion is that the new account gets half of the GH/s and also gets half of a pool rate. This would still be a lot better than right now. And he is still donating half his hash power to the pool to increase it. At this rate new investments won't be coming fast enough at all and then ROI will never get anywhere. Even though ROI is 68 months in reality it is a lot lot lot more if you use adjusted difficulty.
October 14, 2013, 01:34:29 PM
He announced that he will make holiday soon after he had installed everything, so I could imagine he will be unreachable for ~2 weeks.
I must have missed that. That explains his lack of response.
Thanks for the info.
Art
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