Do you have any reason to believe the company is not legitimate?  I've been following them for months now, and have found no red flags.

We are running our own P2pool LTC node.  The $200 figure factored in electricity.  Probably seems low because of how much less efficient GPUs are. 

GPUs don't make sense no matter what the circumstance.  They use too much power.  When our next-gen stuff starts showing up we will need that electrical capacity for what will really bring in the coin.  Not to mention I think scrypt ASICs are probably 4-5 months away and will render all GPUs obsolete.  For a regular person that isn't such a big deal because they can just sell them on eBay.  However, that would present numerous issues for us and selling GPUs on this forum for any kind of fair value will be nearly impossible at that point.  The risk reward is just not there.  For example, our scrypt rig is only bringing in ~$200 profit per month right now using ~1,300 watts of power and that profit amount has been dropping rapidly (keep in mind all electricity is paid out of my pocket).  In contrast, one of our BFL Singles uses ~400 watts of power and brings in ~$450 per month.  I just can't justify going GPU for any reason looking at those numbers with BTC mining using old equipment still being more than 7x as profitable per watt.

I check every single morning to see if scrypt ASICs are available for order yet. We are scrypt mining away with 1.6MH/s now, but I can't power and cool 75MH/s worth of GPUs. It isn't realistic.

I disagree.  I think the all silver one is more rare, more desirable, & better looking.  I own both and would part with my gold b version long before the all silver. 

It is easy to look back now and say that we made a mistake taking debt when we did.  The bullet run didn't make it by November and the BTC price increased.  However, if BTC would have crashed down to $2, we would be talking about how genius it was to get debt in BTC.  At the time, it seemed that jumping on the next-gen equipment was the only option we had and there were those advising me who believed I was far too bullish on BTC at the time, so I went against my instincts thinking that I was perhaps blinded by my own bullishness (turns out I was not).

The fact is that our debt has increased far faster than I had imagined at the time.  However, I structured our debt so that this would never be a killer of the operation.  In the loan it says that 25% of our mined income will go to debt.  I want to make it perfectly clear that any amount paid over that would be strictly at MY OWN JUDGEMENT.  Increasing the share of income that is paid to NASTY MINING's holding address does not necessarily correlate to paying down debt faster.  I'm not saying I wouldn't use it to pay down debt ahead of further investments, but it is certainly within my rights and abilities as the operator of NASTY MINING.  Going back to the debt structure...  The debt we hold is the best debt you can have in the world.  It is 0% debt with no timely required payments.  Basically, if we wanted, we could take 100 years to pay back this debt and it would be perfectly within our agreement.  That being said, I am the last lender to be repaid and do have a personal interest in this debt being repaid while I am still alive.

So is our debt a big deal?  Yes and no.  It's a large number, but it represents only a 25% share of our mining income.  It never has to be more than that, and we can divert distributions to a separate account for future equipment purchases while only keeping 25% of our income going towards debt.  Again, not saying that is what we should do.  I'm just saying we still have a lot of options and while the debt amount is great now, it doesn't threaten us as long as BTC mining is still largely profitable.  For example, at the current difficulty, NASTY MINING would still be able to operate profitably and pay down our debts with a $100 Bitcoin, and that is with our current soon to be outdated equipment.  While the debt does pose a threat to the operation, it isn't as dire as it seems, since if BTC drops below $100 and our operation becomes unprofitable, we would have an easier time repaying the debt at a beneficial rate with savings we do accumulate, for example our alt coins that are saved until needed (like how they recently bought us 2TH of mining equipment with most fans not even aware we had that many alt coins).

Seats begin accumulating distributions immediately.  However, there is a threshold set for minimum payouts to avoid dust accumulating on the address, so it may be a few weeks before you notice a payout.  You will soon be able to check the balance held below the threshold on nastyfans.org once development is complete.

I'm not sure where you got these cards, but I attempted to place an order and received a message that the card is not valid or has not been activated.

I'll take that deal if it's still available.

I'd be interested in a smaller one for my office. 2 feet long seems a bit extreme for personal use.

Thanks.  Even with all the fans and ventilation, the house still smells slightly of ozone. On the plus side, Butterfly Labs contacted me today and said they will be shipping 3 new power supplies and I don't even need to return the dead ones.

That actually isn't a bad idea.  I wonder if there's an easy way to rig a smoke alarm to a circuit breaker...

Hot logo addition.  You're on fire.   

The precaution that saved my house from burning down was simply to not have it sitting on something flammable.  All my miners and PSUs are resting on some sort of metal.  That being said, there were signs this was coming.  The PSU had shut off on it's own a couple times in the days leading up to the fire and was becoming noticeably hotter than the others.  I was actually very surprised and a bit impressed to see that the miner was mining away at full speed while the PSU was in flames.

Updated the OP with a new picture.  Here's a couple more.





All ordered coins have now been created.  I'll be making another trip to the post office on Saturday, so if you order in the next 24 hours you should have your coin in time for a last minute Christmas present.

I also cross-posted this thread on Reddit.

We had a bit of excitement today.  One of our BFL power supplies burst into flames.  No harm done as I had a spare power supply on hand and was home to extinguish the flames relatively quickly.  This is actually the 3rd dead Butterfly Labs power supply I have now, so I've contacted them to RMA the dead units before they release their next-gen equipment and stop supporting their old hardware.

Just for the sake of sharing information, I've turned down 25 BTC & 30 BTC offers for my 10 BTC silver coins with & without the gold B respectively.  That was BEFORE Casascius closed up shop.

The US orders have already shipped. Should be arriving in mailboxes in the next 48-72 hours.

If there are any problems or concerns of any kind, please contact me.

It is a bad security practice as mentioned above, but possible.  Just make sure your exchange accepts multiple deposits to the same deposit address.  Some don't.

I don't want to spoil the fun, but I can tell you that nonnakip and I have been discussing something new and exciting that will further separate us from the pack and reward seat owners while also acting as a massive fundraiser.  Rest assured that there is definitely at least one more rabbit waiting to get pulled out of the hat.  Right now however, the focus is on implementing the pool interface with nastyfans.org and knocking some website features off the todo list while we await our next-gen ASICs and repay our debts.  I'm also hoping that our physical NastyFans seats start becoming more popular once they are in the hands of fans and encourage potential new fans to take a look at what we're doing and join us on our pool.

Some other things that are being considered...

• NastyFans online shop with more products than just our 3 silver coins
• Ability to pawn seats for goods
• Mining subcontractors who will "mine to own" on our pool with our old equipment
• Donation Re-Investment Program
• Buy order alerts