21.26

There are 25,000 total seats and they will eventually all be receiving donations.  They are being released to the market in a way that continues to increase the MH/s per seat as more equipment comes online in order to provide steady growth for existing seats.  With the number of seats and ordered equipment, an increase to 24MH/s per seat is the current expectation.  You can track our hashing power per seat on the OP, or by viewing the below image.

HASHING POWER:

4.5

I don't know, but I'll keep my eyes and ears open.  If faster firmware becomes available I'll definitely test it out.

Don't those chips use something like 10X the power as BFL's equipment per GH/s?  Last time I checked (admittedly has been a while), I determined that there is a good chance those chips won't even be profitable once BFL ships their backlog and difficulty/price adjusts to the new reality.  I have no interest in buying equipment for this operation that will be useless in less than a year.  There are others chasing hash rates for quick gains, we are in this for the long haul and are in a great position to benefit from the 600GH/s that has already been ordered.  I've also been in contact with BFL and there is a better than average chance we will be sending in some of our singles later this week...  Just be patient a little longer. The ASIC race is just beginning.  Panic buying inferior equipment now will almost certainly prove to be a bad investment once more products enter the market.

I disagree and repeat that we will have more BFL ASICs very soon.

NASTY MINING is already using P2Pool on a local Linux machine.  NastyFans.org also has it's own P2Pool server and you can even connect to it and help mine.  We aren't currently merged mining, but how proceeds from alt coins would best be handled is a great question.  A lot of work needs to be done before I can give you a great answer.  P2Pool and merged mining definitely pose some interesting possibilities that have been contemplated at great length.




I don't think that 10GH/s for 52BTC is a good offer.  Exhausting our savings on an inferior product for 10GH/s is a bad idea.  BFL will begin delivering very soon and all ROI estimates will be thrown out the window.

I'd rather not speculate until we have BFL products in hand, especially since I haven't received a request to send back our current singles yet.  However, if I must...  Since we hit our 1MH/s per seat goal with the FPGAs, my next goal would be to increase that to at least 10MH/s per seat with the first batch of ASICs.  Once all of our ordered equipment arrives, we should be over 20MH/s per seat, and hopefully much higher when we choose to spend our BTC holdings on more equipment.  Right now with the price of currently available ASICs, I think building up a savings and waiting for the opportune moment to reinvest is the path we should take while waiting for BFL to ship our current orders.

Most people got involved in this venture because of the early preorders.  It seems like a slap in the face to those people to auction some of them now.  That being said, if enough seat owners want to do this, I have no problem putting up a vote to see how everyone feels on the subject.  Personally, it would have to be an outrageous price for me to want to do it.

UPDATE:
In the latest bid for transparency, you can now view a screenshot from NASTY MINING's cgminer on the OP.  This screenshot is automatically updated every 10 minutes.  A couple things to keep in mind when viewing...  We are now mining using our own P2Pool server, which leads to a higher number of rejects due to the mining rounds resetting frequently, but isn't an issue because of the way P2Pool works.  This can also cause the MH/s display to fluctuate drastically lower depending on what point in the round the screenshot was refreshed, so you should pay the most attention to the "avg" reading near the top left.  Looking at the share stats, you can see that 2 of our BFL Singles are experiencing a high rate of HW failures.  These singles were purchased used at a discount from another forum member several months ago with the intent of being traded in.  Any MH/s shortcomings are hopefully not considered a large concern, as I am still donating the hashing power from my personal Jalapeno & 2 BFL Singles to the operation and they will all be traded in for SCs before too much longer.

CURRENTLY OPERATING:


I've also decided to switch our NASTY MINING Holdings to a vanity address.  The new address is: 1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ and our BTC have been transferred.

We had some issues this week that kept the donations a little lower than usual.  The new cgminer was causing our miners to become "zombies" which is why we got the Linux machine running.  That problem appears to be solved.  I also raised the payout amount on our pools to 0.5 from 0.1, which caused a little backlog while the new limit was reached on our 3 different pools.  Further testing of our P2Pool server and 25% of the donations going toward our savings also contributed along with the increasing difficulty.

BFL usually only takes 2-3 days to ship here.  They're pretty close.  I don't think expedited shipping would necessarily be worth it.  They just need to get our hardware built.

UPDATE:
We are now running a P2Pool server on the local network using a newly purchased dedicated Linux machine.  We're also running our miners from this dedicated Linux machine, and they seem to be running much more stable so far.

Here you go.  Not the cleanest setup, but I'll see what I can do once some more ASICs arrive.  In this picture you can see 12 BFL Singles & 1 BFL 5GH/s ASIC miner.  You can also see the air conditioning unit and the exhaust line venting to the exterior.  Behind the air conditioning unit is a set of 6 plugs wired to 3 individual electrical circuits.  In the bottom picture you can see the 125amp sub panel that was installed on 4/25/13 to provide these circuits.

*2 FPGA singles & the 5GH/s ASIC are hardware that I'm temporarily donating to NASTY MINING along with a 7970 GPU that is currently testing a NastyFans hosted p2pool.

Today I received the Jalapeno and it is currently hashing away for us.  I also moved our equipment into the air conditioned closet and hooked it up on our dedicated electrical circuits.  Enjoy the cgminer screenshot:

I agree with kuzetsa.  I propose a poll to change policy to state that "any members that do not vote within thirty days will automatically vote for the 'abstain' choice."

I also believe that a majority of seat owners wish to have 25% of donations set aside for future expansion.  For that reason I would like to ask nonnakip to change my 'abstain' votes on the current poll to 'yes' votes.  I believe this is what the majority wants, and I'd like to do what I can to force this through with the current policy while we resolve the abstaining vote issue.  If there are objections to my voting to pass this poll, please make them known.  I'm a reasonable person and only want to do what is right given the circumstances.



I'll definitely post some pics here.  There isn't much to show yet, but as soon as I get the a/c unit & jalapeno running, I'll post some new pics of the operation.



Nothing yet.  It's my understanding they're only shipping jalapenos until the new boards for the singles come in.  I'll definitely keep everyone updated when I do get the email.

Yes, I am.  We've never discussed having NastyFans pay for infrastructure improvements, and I didn't want to start an argument or turn away potential/existing seat owners with unexpected costs.  For that reason, I saw this as another opportunity to show my dedication to the project.  If for some reason there were NastyFans that wanted to help me with the a/c and electrical circuit costs, the estimate for work being done this Thursday is ~$2,000 and donations can be made to my BTC address: 168WXhArv7Fasqvi2xm5MQMfLhG18jifMe

It is true I hold one of the first jalapeno orders.  I ordered for personal use, but given the delays with BFL, I don't see why I can't share with my fans.  I haven't received any communication that my unit is one of the ones that shipped, but I will be checking my mail daily and hoping for the best.  

There have been lots of exciting things going on behind the scenes over the last two weeks.  nonnakip has done a lot of work on the website and has asked me to begin testing a cool new service for NastyFans.  This will (I'm assuming) result in our hashing power being displayed incorrectly while our equipment is diverted for testing.  However, we will still be mining and rewards will make their way to the regular donation address.  I've also arranged for some electrical improvements to be done this week, which will bring our equipment offline for a bit while an electrical sub-panel is installed.  This should give us more than enough power to aggressively expand when the right opportunity presents itself.  In addition, an exhaust line is going to be installed this week so that the stand alone a/c unit can be brought online using the new electrical circuit.  This should immediately increase donations, as we're currently seeing ~10% failure rates due to throttling.  With a bit of luck, a best case scenario would be that we're ASIC mining on our own pool, in a cooled environment, using a dedicated electrical circuit by the weekend.

kuzetsa, I'm not the one undercutting you and I've never sold a seat below the IPO price. Believe me when I tell you that there is nothing I would like to see more than you selling all your seats.

I don't have the patience to point out all the ways that you're wrong. The offering was 25,000 seats from day one as that was how many seats were issued by GLBSE.  It was never increased to this day. The number you quote is the amount that was offered on the first day of trading at the original price and backed by the equipment held at the time. I hope people do their own research and don't listen to you, because you're a nut job.


They're backed by hardware orders and aren't receiving distributions until the hardware is in place. You have no point, you're a troll and nowhere near as clever as you think you are.

I agree. I think we would be better served to remain patient with our current orders. No sense wasting Bitcoins just because we have them. Better opportunities are sure to present themselves.

It's difficult to predict future distributions in $ when the BTC price is rising so significantly.  The bottom line is if Bitcoin continues to gain value, any $ investment made for future BTC distributions will most likely be a wise one.  Particularly investments made in above average performing operations that can continue for the long term.  That is why I'm making upgrades to NASTY MINING infrastructure now, like a dedicated A/C unit, increased security, & upgraded electrical circuits.  Hopefully we'll be able to continue to aggressively invest as new and more efficient ASIC products come to the market.  Our 38 BTC bASIC refund (image below from the OP is clickable to confirm the funds are held securely) has already grown in value significantly, to where we'll be able to take advantage of BFL's 25% discount to purchase several more miners once our current orders arrive.  I think we'll be measuring our equipment by the TH/s before too many more months pass.

CURRENT HOLDINGS:

The holding address is 1AwRAGDxfXtJJmvy7hgDgV81TD6xBQjKTW and the above image will update to reflect any new donations.