The US economy would collapse almost overnight without illigal workers doing jobs nobody else would take. In fact VICE just released a short documentary on this exact topic a few days ago. https://www.youtube.com/watch?v=QXUdozfL7iMI have a hard time understanding how you could be so ignorant of fundamental things happening right in your own back yard. |
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I'd like to see an opinion poll on whether it is a good idea to offer a signature advertising campaign on these forums. I figure it would be a good way to help get the word out, even if just for a short time, but don't want to do anything that might reflect negatively against NastyFans.
OgNasty, can you give me some details how this works? How much does it cost for how long? Who would pay that? Who would design advertisement? Does that have costs and who would pay them? I think it is important to include this information in the poll so members can make a educated vote. I wasn't proposing any specifics or asking to use any funds. I want to know if NastyFans would view a signature campaign as a positive way to get the word out, or an annoyance to forum members. A third poll option could be that more information is needed to make an educated decision. It has also been some time since nastyfans.org has seen a poll, and I think it would be fun. I was about to ask the same thing, but I understand now that you were just asking or a or a campaign in itsself would be a good idea. I would like to see a poll for this, and I would support that poll  |
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AM franchised mining: an insight
Great info
Thanks for this! |
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...I activated the offer and we are currently mining 3TH/s on Eclipse... I don't know anything about Eclipse. Anyone know if there is a public link to view the status? Also anyone know about how often Eclipse 'pays out'? I looked into it, but the way their cloudhashing is setup, you don't actually use a username/password combination so there is no tracking of the stats possible. It does look like they haven't yet found a block since we've been mining, but I am watching https://eclipsemc.com to see when a block is found and what our payout will be. EDIT: We have been hashing with no issues on Eclipse, but after looking more into it, I am concerned by the 5% fee, lack of transparency with the current setup, and sudden bad luck that the pool is having. As a result, I have switched our cloud mining to a pool that I am able to monitor. I can now confirm via a 3rd party that BFL is providing us the promised hashrate. Hopefully that puts some skeptics to rest. I am still pushing them to add NastyPool, or at the very least the ability to enter information to mine on any P2Pool node. Thanks for being ontop of this! |
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The question will be when this circle is being broken, since every batch needs to be funded. And every single one is bigger than the last one, yet sells for less (difficulty increase). Thus, very little remains to be issued as dividends, if any. FC may very well decide to keep the income in order to ramp up for gen 4.
I expect mining/franchise dividends will begin to trickle in very soon, which would make the picture rosier while profits are being reinvested  How much do you think is going to be reinvested and how much will be paid out as dividends? According to my approximations, the income form the April batch almost exactly paid for the May batch, which in return paid for the June batch. Which may or may not pay for further batches. My point is: The income seems to be reinvested completely into further batches. Plans from April 21st: If we took the pretty big June batch of 80.4 PH/s (at 0.2$/GH/s it'd cost about $16m (2x the revenue of the May batch - thus it may not even be possible!!!) and forward the complete revenue to the shareholders at a price of $0.5 (probably not achievable in late June) we'd see a dividend of 0.15 BTC/share. And AM was completely out of money then. More realistically, yet best-caseish: We spend all the money we have $8,7m and produce a June batch of 43.5 PH/s, sell those chips for 0.4$/GH/s and end up with $17.4m. At a BTC price of $700 we end up at 0.062 BTC/share. Again, AM would be out of money. If we now paid out half of the revenue, and reinvested the other half ($8.7m) we'd see 0.031 BTC/share. The newly funded batch would likely sell for a lot less and we may see an additional, say 0.025 BTC/share. Since the difficulty is ever-increasing and the competition is ramping up as well, this can't go on forever and at some point it becomes unfeasible to continue. We also may see an increased BTC price. That being said, it seems pretty difficult to achieve anything exceeding or even approaching 0.1 BTC/share now for all of gen 3. Yet, gen 4 needs funding money as well (most likely significantly more than gen 3) Please do your own research, though - this is no trading advice. I may be wrong or significantly off. Please feel free to rectify those calculations. When it comes to divs, they're giving me an headache, though. What about all their inventory? I believe there were siginificant entries in the financial reports that suggest they have a lot of stocked up chips and other hardware? |
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I won't be able to attend, but I would be interested if some of the more interesting questions would be posted somewhere Thank you to those who did attend. Lots of fun. The chat log has been pasted here: http://pastebin.com/Y518dxjJIf you sign in to nastyfans and go to history page you find a link to web chat also. The archived chat on nastyfans.org uses html/css formatting to improve readability.
Thanks! |
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What will the chat room be on? ie. will it need any software installing or account creation? I've a dentist appointment near then so will probably miss it but would like to be ready in case I can get back on time. Big thumbs up btw I plan on using https://chatver.com which was created by bitcointalk user mart. That seemed like the easiest method to host a temporary chat room. I'll post the actual room link in ~2 hours. I won't be able to attend, but I would be interested if some of the more interesting questions would be posted somewhere |
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The trendline is an imaginary observation of the past based on guesstimations of a lagging slope and an arbitrary formula for an exponential growth of the userbase in which the exponent could easily be wrong causing a massive error.
thats shark jumping. the exponent error point is the good point in your post. i should like to take fits over time to observe the variance. stupid tax deadline has me stretched tho. I don't know where I saw a couple of days ago the graph with the curve representing where the exponential would be taking in count only data up to that time. It has been remarkably close to current trendline for over a year. I think rpietila already said this when introducing his model and since then has talked of how little the slope changes month-to month but has not repeated it enough, apparently, given that it is a very strong point to which oda.krell raised an objection too.  I'm really curious as to what exactly I'm looking at |
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Brief update: -The officer in charge of the investigation is preparing a statement for me to sign, however she's going on leave for 2 weeks so it'll still be a while. -They have also spoken to NSW police and almost confirmed TF's identity to an appropriate level of confidence (as I'm sure you all understand the police can't take our word for it ) -There is still a bit of work to be done on their part but as I mentioned before it isn't high priority. Rest assured progress is being made, just slowly. I still can't make any promises on what will happen next though. I guess not much is going to happen for a couple of weeks but when I hear more you'll know about it. Thanks for your effort, and the update! |
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Two things may happen in 2014:
1. Firmly believing that the government have control, China maintains low price and become a bitccoin export country, and receive moderate media coverage. Bitcoin is thus allowed to live.
2. The spikes in global market calls again the passion in China. And when our spirite of gambling is lit up, anoher spike in China and warm media coverage in China will lead a harsher ban from the government, probably force bitcoin into black market.
It is possible 2 happens after 1.
I was wrong. This is an unexpected event. Well, the hash ban on bitcoin is an event too easy to speculate, but the timing is totally unexpected to me. I was waiting for a spike for China to take action. My position wasn't well protected. Are you sure this time the ban is for real? Last thing I read the Chinese exchange operators had not even been informed. |
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Open your mind for a moment and imagine a few hundred people on an island starting with no laws.
With no laws and no way to enforce them they start to run into problems, some murders, theft, property is taken, people build a house and assume they own the land only to have their neighbors think that they own a different part, etc...
People start arming themselves and try to protect themselves and their property but most find that they have to go to work, they cannot stay at home all of the time so a private police force offers to protect peoples' properties for them, some people like it and pay for this police force to protect their home from intruders. The police force is given boundaries of peoples' properties and disputes are worked out to come up with clear property lines.
Some people do not agree with the lines and go with their own police force, a few police forces pop up and pretty soon there are property line disputes between police forces. One guy says an acre is his while another says it is his. They both call out their police forces to keep the other off of their property and soon there is a stand off between forces. Both are right, they are protecting lawful property and a firefight between forces breaks out.
The next time funding for the force comes up, both forces raise rates for those home owners to deal with the extra cost of a firefight with the other force. After some time both land owners realize it is cheaper to come to an agreement on property lines than keep paying higher costs to the police. So they make compromises and the rates go down.
Now imagine one group of people really hates gays, they pass a 'law' against gay marriage. Basically they authorize their police force to go in and kidnap and punish a gay couple. The gay couple is paying another police force to protect their property from intruders (including police) and protect them from kidnapping. The gay law police come to kidnap and imprison the couple and the kidnap protecting police are called to protect them. Another stand off and possible gun fight ensues...
At this point the people who hate gays are told their rates will go up in order to pay for gun fights with other police forces. The battles are costly so the gay haters have to decide if it is fiscally worth it to have such a law. Over time it would not make sense to pay for gun fights.
After a while, the cheapest route for all users of the police forces would be to agree on what 'laws' to impose, and it would gravitate toward such a common agreed law of the land with very few subtle differences. You would also have to factor in people who do not use a police force and protect their own properties and lives. Any outside force used against them or their lifestyle would bring with it a cost that would likely not be worth the higher rate.
Thoughts? With no laws and people willing to pay for competing police protection, how do you think things would end up?
There are lots of problems and shortsighted assumptions in this story. There is a problem with majorities, since they are susceptible to loudmouths, fanatics and sociopaths swaying the "public opinion". Most correct, or just solutions to ethical problems or problems to do with justice are complicated, fairly difficult to explain, and not spectacular or cool to talk about. Most wrong solutions (like killing all the Jews, whipping the gays, going to war with something or someone) are easy to understand, easy to scream at an angry mob, and capitalize one peoples anger and fear. "justice" would sway in favor of the rich, the fanatics and the stupid. Economic incentives are not a suitable base for a decent society, they never have been, they never will. Economic incentives have a place, but definitely not in this role. |
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For the 'POGTFO' crowd:  I'll look into getting the new CoinTerra rig added to our cgminer display on the OP (and iOS app) soon enough. At the moment it is running via the built in network plug. I think I like the graph the most, nice perspective! |
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CoinTerra has marked our order as shipped. No tracking number yet, but I'm figuring to have the unit up and running Wednesday or Thursday.
That leads us to needing to start cycling out our BFL Singles in preparation for our TerraMiner and Monarchs. If anyone is interested in purchasing one of our BFL Singles, please feel free to contact me. I would be open to hearing offers for our BFL Singles to eliminate debt from our loans, or trades for NastyFans seats, as well as BTC/LTC.
Also of note, one of our lenders agreed to take 8 BTC to settle their 10 BTC debt immediately, which was done yesterday.
Exciting updates, thanks! |
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That is sweet! Thanks for that! Risto, could you put this link in the OP? That would be very helpful. |
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Is there a reason that the Mt Gox Euro chart is still displayed while the USD chart was removed?
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Here at Havelock we take security issues very seriously.
We have never had any issues with users that enabled 2FA on their account. We have contacted the person that has made the claim that is account has been compromised and are looking to resolve the matter has soon as possible.
Trying to balance ease of use and security is never easy, especially in the Bitcoin realm. We can always add additional security features but those will always slow down the user experience.
So we turn to you, our valued customers, what features would like us to add to our platform?
1. Confirmation email before any action is taken; some but not all actions.
2. Pending withdrawal of your Bitcoins; time lock?
3. Lock account by IP address?
We always value your opinions and we strive to serve the Bitcoin community to the best of our ability.
Also we can assure everyone that it was not an "inside rogue employee"
Thank you,
Support Team
Havelock Investments
This is the Asciminer thread so we should probably move this discussion over to havelock exchange, although if you remember Havelock suggestions have been made in the past, had these been implemented this sort of thing could not so easily happen https://bitcointalk.org/index.php?topic=135035.msg3661143#msg3661143withdrawals should be locked to a specific BTC address and multisig should be signed for share transfer. This would at least stop funds leaving the accounts. YOU WERE WARNED. I second the idea of having a fixed withdrawal-adress! Maybe have a two week time-lock and an email notification if you want to change the adress afterall. This would impact the ease of use in a minimal way, while dramaticly enhancing the security. |
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@masterluc: i am starting to think you were right calling a "see you in 2016-17". not a bright future near term. many challenges to be taken care of before a sustainable 1000k price
What kind of challenges have suddenly appeared then? The recent dip has shown us a few things; - Mt.Gox are even more childish and unprofessional then we might have thought, as shown by their latest press-release. - There are idiots selling several thousands of BTC on BTC-e which gave a lot of people extremely cheap coins. What has really changed? |
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whats up with the site ?
I just woke up and see the site's server isn't responding. I'm looking into it now and will report back. you need to send me the Bitcoin you owe me,,,Your site is a scam / mixing service I'm surprised they haven't kicked your door in! *Lucky Ducky!* ;-) you ready to dance? Wow, you should shut the fuck up, and piss off. |
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Stocks are done
Bitcoin... Bitcoin also needs money, which are being tapered. Bitcoin wide acceptance and millions sales on overstock & co means only one: people buy goods, merchants sell bitcoins in their announced volume. That doesn't need to be the case since bitpay offers the option to receive e percentage or the whole amount payed in BTC and not just in dollars. also many people who bought something at overstock with their BTC replenished them straight away by rebuying BTC at an exchange. |
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