"Cashing out," or liquidating shares that are not transferred will take some some. My original estimate was at the end of October, but liquidation might even happen after the exchange is taken offline. This is why is it vitally important that everyone puts a "public withdraw address" in their account. This ensures that I will be able to pay out any remaining shares when the exchange is taken offline.

Honestly, it will be much faster if everyone transferred shares to seats. The market on the Nasty Fans website can be slow at times.

All shares that are not transferred will eventually be cashed out, but this option may take some time.

As far as opening an account, that is a decision you will have to make for yourself.
If you do, you can transfer 100 shares into a seat. Or you can buy more shares to get to the next hundred to get another seat. It depends on if you want to invest in Nasty Fans or not.

I am surprised that no one has any questions. I guess my FAQs have answered every question anyone has had. And thank you for actually reading it! 


I have received a number of transfer requests--which is great. I haven't responded to them individually because there are so many.

I will begin the transfer process after Dividends are paid. That way you can collect, and then get your Nasty Fans seats. Usually, dividends are paid on Monday, but I'm going to speed things up and pay them today.

As I have said, I have a number of requests and will begin processing them. Please bare with me as this is a completely manual process and each request must be handled individually.
If you have submitted a request by the end of  Saturday 28, September (UTC) and have not had a response from me by the end of Wednesday, please send a gentle reminder.

If you have not sent a request in yet, don't worry. You still have time.

Trading will continue until the exchange halts all trades. At that time, I would strongly encourage anyone with over 100 shares to request a transfer to Nasty Fans.


I appreciate the comments that you have sent in your transfer requests. Your words of encouragement, thanks, and jokes brighten my day.

BTC-GOLD shutting down.

Due to the exchange closing, BTC-GOLD will also close down operations.
If you have 500 or more shares, you may request delivery of your gold by sending a PM or an email. The 15 share handling fee will be waived, but you will still be responsible for all shipping fees (including insurance), and any taxes/customs/import fees imposed by your country. Waiving the handling fee is a special offer not in the asset contract.
If you have 499 shares or less, or don't want to take delivery of gold, then your shares will be liquidated at spot prices. This follows the asset contract.


Please make sure to set a Public Withdraw address in your exchange account. This is vitally important. DexX7 (who manages Ciphermine-PT) has a great "how-to" post here:
https://bitcointalk.org/index.php?topic=283947.msg3233637#msg3233637


FAQs


Will I still be able to trade?
Yes, you will still be able to trade. If you want to sell your shares now, your are free to do so. You have until Oct 7 (when the exchange will stop market trading).


If I just wait to for my shares to be paid, how much will I get?
I don't know. The gold spot prices go up or down just like any other asset. It depends on when they are sold.


When will the "left over" shares be sold? When will I get paid?
I plan to have everything sold by the end of October. Until then, the asset will remain trading for as long as possible until the exchange halts trading.

---

Thank you for putting your trust in me. I had fun managing this asset.


-Carnth


P.S. If you have any questions, please ask!

Litecoin Global is also shutting down along with btct.co as they were both operated by Burnside.

Add:

bitfunder.com
havelockinvestments.com

Actually, yes it is.
Burnside has already explained why.


Burnside, I think you should rename this thread: "[BTC-TC] Virtual Community Exchange [WINDING DOWN] - Reserve fee is staying"

The pass-through on btct.co (NASTY-PT) will be closing. For full details, please see this post:
https://bitcointalk.org/index.php?topic=268589.msg3243305#msg3243305

I will answer any questions you have in that thread.

NASTY-PT will be shutting down.

After careful consideration, this seems like the best option available to us.

Do Not Panic
Remember, your shares are backed by Nasty Fans Seats.


Here is what will happen:

For every 100 shares of NASTY-PT you have, 1 Nasty Fan's seat will be transferred to you on nastyfans.org. This is a special offer not in the original asset contract. If you don't want to receive Nasty Fans seats or don't want to create an account, you don't have too. See the next line.
All remaining seats that the pass-though has will be sold and the proceeds distributed to the remaining NASTY-PT shares. This follows the asset contract.


How to get started with a transfer for people who have 100 shares or more:

• If you don't have a Nasty Fans account on nastyfans.org, you will need to create one.
  I believe you must purchase 1 seat in order for your account to establish.
• After you establish an acount on Nasty Fans, copy the form below and paste in a PM to me, filling in the details.
• I will reply with instruction on how to transfer your NASTY-PT shares to the appropriate account.
  Do not transfer shares until you get a PM from me. Any shares transferred incorrectly will be considered a donation!
• I submit a transfer request to nonnakip, who manages Nasty Fans.
• You receive your seats--process complete.

What to do if you have 99 shares or less:

• Nothing, your shares will be cashed out after the seats that back them are sold.

Please make sure to set a Public Withdraw address in your btct.co account. This is vitally important. DexX7 (who manages CipherminePT) has a great "how-to" post here:
https://bitcointalk.org/index.php?topic=283947.msg3233637#msg3233637



NASTY-PT share to Nasty Fans seat transfer form. Fill out this form and copy and paste it in a PM to Carnth to have your shares converted to seats.

---

btct.co username: 
nastyfans.org username: 

Number of NASTY-PT shares being transferred (must be multiples of 100): 

---

FAQs

Will I still be able to trade?
Yes, you will still be able to trade. If you want to sell your shares now, your are free to do so. If you want to buy enough to make the next even 100, again you are free to do so. You have until Oct 7 (when btct.co will stop market trading).


If I just wait to for my shares to be paid, how much will I get?
I don't know. Nasty Fans seat prices go up or down just like any other asset. It depends on when they are sold.


When will the "left over" shares be sold?
I plan to have everything sold by the end of October. Until then, the pass-though will still continue to collect funds and pay dividends as defined in the asset contract.


Is there a fee to get my NASTY-PT shares transferred to Nasty Fans seats?
No. I don't think it would be right to charge a fee due to the circumstances.


Can I transfer my NASTY-PT shares to BitFunder?
No. I don't manage the pass-though on BitFunder, OgNasty does. Because of this, it is not possible to transfer shares from btct.co to BitFunder.


Could we move to Havelock or any other exchange?
I asked Havelock. The response was "We are not accepting new assets at this time." I won't consider any other exchange.

---

Thank you for putting your trust in me. I had fun managing an asset that gives back to Bitcoin.


-Carnth


P.S. If you have any questions, please ask!

Havelock doesn't run the AM-PT, but ThickAsThieves does.

He tells you how to move shares in this thread:
https://bitcointalk.org/index.php?topic=300776.0

Warning, read very carefully and follow all instructions.

Total dividends of 0.54973158 will be paid this week.

This is about 0.00021823 per share with an instant annual dividend yield of 19.54%

This week, our underlying assets succumbed to intense panic selling due to btct.co announcing its shutdown.

This has caused the NAV per share to decrease to BTC0.0581

---

Future Outlook - My guess as to what's to come.

Wow. btct.co.... gone.

---

MiningCo.ETF is available on BTCT.co and as a pass-through on BitFunder.
Shares can be transferred between BTCT.co and BitFunder. 10 share minimum. PM Carnth for details.

Short answer: yes.

{I increased font-size for visibility}


This is now the best idea I've read since the announcement.

Great step-by-step instructions dexX7.

And for the love of your coins, please do it, people. I have seen many, many blanks in the public address area of the lists of shareholders for the assets I manage.

Bursinde has already addressed the withdraw fee reserve here:
https://bitcointalk.org/index.php?topic=125629.msg3227724#msg3227724

(Spoiler: it is staying till the end)


Let's add this to the List of FAQs.

This might actually be one of the best ideas I've read since the announcement.

There is a certain convenience of having your ASICMINER shares on an exchange. This is why pass-throughs are popular.

If you want to have your shares moved to a different exchange, pass-throughs are available on both Bitfunder and Havelock and each have a different process. As far as I know, neither have a fee or "penalty" for depositing direct shares into their pass-through.
Before you move your shares, consider the contract of each and know the rules and process of when dividends will be paid; and the procedures and possible fees if you want to "withdraw" your pass-through shares back into direct shares.

If there is a "full refund" I hope it's in the same currency you paid for it.

Direct shares are "real" ASICMINER shares. They are managed directly by friedcat. As such, they are not listed on any exchange.

To buy or sell direct shares, you have to find a buyer (or seller) and negotiate ("I'll pay you X for Y number of shares"). After the deal is done, the seller has to PM freidcat and tell him to "transfer" the direct shares into your name (you give friedcat your email and Bitcoin address).

You get paid dividends directly to your Bitcoin address that friedcat has on file.


Does this make more sense?

I can't give you any advice about how much you should buy or sell.

I will give this advice: I am trying to reach a scenario that will be the most fair to everyone. I would recommend that everyone base their market buys/sells after a final decision has been made about this pass-through.

---

I am not going to make a decision today or even tomorrow. It will probably be at least a couple of days (maybe a week). Burnside has give plenty of time for the asset issuers to take a step back, analyze all options and make the best choice moving forward. I will not make a hasty decision, and I want to explore all possible options, so I ask for your patience during this time.

For now, NASTY-PT will continue to operate normally until a decision has been made. All dividends will be paid as normal (as stated in the contract).

I can not speak for Bursnide, but here's what I know:

Burnside operates the pass-through on btct.co. DeadTerra operates the pass-through on Bitfunder.
Right off that bat, moving shares from btct.co to Bitfunder are going to be a little complicated.

The best thing you can do is hold on and wait for further instructions from burnside.

I don't mean to speak on behalf of creativex... but if the asset were to move to Bitfunder, the transition would be rather easy.

Burnside provides complete lists of every shareholder. This list is fairly easy to import into Bitfunder.

There wouldn't be much more involved than each shareholder logging on and claiming your shares.