Topic: http://www.pyramining.com/ - Discussion thread (no advertising here) - page 98. (Read 318060 times)

Hi I'm one of the people that make a deposit in asic mode during the promotion!

But the prospective was to start asic on January... so... do you Think  is possible a kind of compensation?

A bonus for the long waiting

tk for your job

50 months is more than four years!

How much can one expect to make on average?

50 months are required with CURRENT hardware, when ASICs will be deployed it will shorten a lot! The time required to complete the accounts will depend on the difficulty by that time, however it may be as short as 2 months.

As I told you before, by mid april I'll have a prototype running, for full deployment expect mid/end of may.

He did say earlier that the ASICs would be deployed mid-April and estimated that within a two-month period all existing account would finish, is that fast enough for ya?

But just to confirm, that those dates still applicable? <3

50 month is too long for me. Can you assemble ASICs faster to people can get their money faster?

This could be a good idea! 

We will evaluate it....

thank you

The service exist.

The Rock has an agreement with Pyraming to review possible switching requests.

We analyze the account, make an offer and, if accepted, we do request the switch.

However, at the present time, due to the high BTC fluctuation, we run out of BTC for this project.  As soon as we will have new resources available we will post the information.

As an alternative, we do have a fund which invested in Pyramining and gives 1% fixed monthly return.  Being a tradable fund listed on our platform, you can get in or out as you wish at market prices.

You can find it at: https://www.therocktrading.com/en/offers/BFRF

Some additional info at: https://www.therocktrading.com/en/funds/info?id=BFRF

Thank you!

the fact that you cannot cash out early is an inhibitor for pyramining to gain what it really could in its market. There should be a service that allows users to trade in btc for pyramining power at below the market rate. It would be worth it to pyramining in general (they would profit from the differential) and help create more demand for pyramining itself.

DadoSovr is correct, there is no way to cash out early. There are sometimes people willing to buy your remaining pyramining deposits, but I don't know what the effective fee on this is. This wouldn't be a service of pyramining (though he will need to help changing the payout address of the account) but of a third party.

don't think so. You just have to wait for it to be complete.

You can close an account pyraming and receive the funds invested?

When you get the full reward you lose the hasing power from that deposit. Each deposit works separately.

Payouts happen anytime you accumulate ~1 BTC of reward (slightly higher to account for the 0.5% fee) unless the cashout would leave you with less that 1 BTC in rewards left, then you accumulate everything and get the final payment all at once.

So depositing 3.5 BTC you'd get
*1 BTC
*1 BTC
*1.5 BTC

Once it completes it goes to zero.

To the original starter of this thread:
When I get My full reward, what happens?
1. My deposit goes to zero and in order to make more profit I need to deposit again?
2. Do I continue to receive profit from the original deposit?

Hashing power from completed deposits is kept in the system but spread out to everyone. So even with money being redeposited (which would just buy new hashing power) everyone is better off. In fact redepositing to a new account would raise the hash rate even more than just the account completing. It still doesn't offer any real metric in the long run though.

It would be interesting to see different stats on completion across the whole site though. Total across all deposits ever, total across deposits opened since n months ago, and total across all open accounts. I'd imagine this would require enough work to implement though that I wouldn't expect it to come while ASICs are being prepped at the very least.

Most competed accounts are those with many referrals and they keep redepositing. Looking at competed accounts is the IMP the wrong Metric to look at.

"Completed deposits:   553" that says a lot more.

That's a 8,35 % deposit completion rate for now.

Also I would out the average completion of active accounts somewhere between 35 - 40%

So you could say that pyramining has currently a completion somewhere between 40 - 45%. That's not so bad.

There's a few things that contribute to this, and buying FPGA power at this point is a little bit of a poor looking investment. Right now everything is running on FPGA power, that is a slower technology than the ASICs that some people are lucky enough to be mining on. As well there's a lot of money put into waiting on ASICs (See Asic preallocated power = 2 TH/s). Once Pyramining finishes developing ASICs (or as has been previously mentioned purchases units from another vendor if they're able to get them out shipped before development is finished). The large recent rise in BTC/fiat means you can buy more GPU per BTC right now than you could previously (such as when most purchases were made). When you buy into pyramining you also have to support the whole group, everyone gets the same hashing rate per BTC, so donating now means you can buy more MH/s per BTC, but that gets spread out over every other account too (This is why each BTC buys ~45MH/s but you'd still end up with ~10MH/s).

So pretty much everything is working against pyramining until the technology gap to ASICs is closed (or a lot of people buy in at the currently unadventurous rates, but I wouldn't expect it). The only upside I see is that accounts are still closing and their hashing power being redistributed to everyone else. I believe when ASIC preordering opened on pyramining there were ~30 completed accounts and now there are now about twice as many, but this is likely a small drop in the bucket.

Does it mean we only get the "revenue"? Or after X months we can get the refund of the full balance in the account? If not, its really dumb, at the current BTC prices to invest at all, because for 1-2 bitcoins you can buy a good GPU to mine a way more than the "Current infrastructure:   10.37 MH/BTC"

Regards

Not at all. Deposits are final.

Once you have chosen to participate there is no turning back.

There is this company who offered to buy you account, but I don't know if this offer still stands.