Attention Unregistered Exchanges, Perpetual Mining Bonds (PMBs), REITs, and other members of the Bitcoin investment space: The SEC has explicitly indicated its intention to apply the already-existing laws to your security. You may be selling securities in violation of the Securities Laws.
Good thing we are just a fan club. So true! |
|
|
|
NastyFan kosmokramer has generously donated a USB Block Eruptor to NASTY MINING. Thanks kosmo! Thanks kosmokramer!!! |
|
|
|
Good to know. That 400GH/s machine does sound sexy for that price. Why does everything have to seem so risky here in Bitcoin land, if they were a proven entity I would be ordering one today. Sorry to hear about your order, good luck, I would be just as annoyed as you if I was still waiting. I think unfortunately many of us have orders in with BFL that have yet to materialize, and while we are happy Nasty and others have received orders we aren't seeing the ramp up production that BFL assured us of. I have an order in on early August and at this point, maybe I'm a cynic but I don't know if I'll have it by October. By being seat holders we've all been burned by BFL, and I think those of us still not in receipt of a unit have trouble rationalizing putting in an order that may take months to be delivered at which point difficulty has rendered worth substantially less in potential earnings. I think we could put this up for a vote, but I'm not in favor of using our money to buy another bfl product until they've cleared up their back log and production issues. |
|
|
|
Any miner pr0n by chance?  Here you go.  We have more 60Ghz on order correct? When do we expect those to arrive?
Yes, we currently have 5 more 60GH/s miners on order. When we'll get them is anybody's guess, but we do have a few more orders very high up the queue I would expect to see "soon."  |
|
|
|
Very cluttered. I got everything running, and for the most part our ASICs look nice and happy. The 5 remaining FPGAs waiting to be sent back are pretty much thrown around the room. I'll get it cleaned up after a shower and some rest. Perhaps tomorrow (or soon) I'll post some miner pr0n.
Any miner pr0n by chance? Also - heard some got extras from BFL, did you get anything? If so - please post pics with the miner pr0n, thanks Nasty! |
|
|
|
Hopefully this is a good place to ask. From what I understand, each seat is currently around half a BTC, and each seat represents a share of the current total mining hash rate, which right now is a bit above 10 Mhash/s per seat.
There is obviously something more going on since that is way too much for such a small hash rate per seat, so I want to ask, what else is there? Are there more BFL rigs ordered, avalon rigs ordered, other ASIC's ordered? I see that there is a screenshot a page before showing that there are 320Ghash/s of ordered rigs , but that would pull the seat share rate only a tiny bit higher based on the current total share rate being 270 Ghash/s, which still does not seem worth the current seat price.
Also, you all seem like a very light hearted and happy bunch, which is very refreshing on the securities sub forum!
Thanks for stopping by! I think you raise some good points about the price per seat being a little high compared to the current hashing speed per share. However, I think most seats are held by individuals with longer term investment plans, as a considerable amount of donations go toward reinvestments and these are largely diversified nicely, see OP for reference. Nasty has also been incredibly transparent and quick to respond along with Nonnakip being great with running the fan club. Ultimately, we have a level of trust and transparency which keeps the drama to a minimum, and it has built a ton of confidence in seat owners that it isn't a fly by night operation. I think when you consider these factors along with the fact that we just received our first batch of asics, the value per seat I still believe is actually a little underpriced. Peace of mind is worth a lot in my opinion, and I've yet to have a reason to worry about my investment here. |
|
|
|
|
Awesome, I see the new units have arrived!!!
|
|
|
|
He said they were expected friday (today) in a reddit thread. 5 days ago
No Avalons... We're awaiting 10 BFL SC Singles. 5 of them should arrive this Friday (if Jody's email can be believed). I think July 5th* will be the day of the first big BTC distribution from NastyFans.
Thanks for finding this! |
|
|
|
I've received tracking numbers for 5 of our 60GH/s miners from BFL. It won't be long now...
By chance did the tracking number list the estimated arrival date? Sorry - just a little anxious. |
|
|
|
The statistics are updated every 10 minutes and cached on my server to keep from flooding the GLBSE with requests. This should allow for the statistics to appear more quickly and even when the GLBSE website has gone down. You're still doing it wrong -- Once again, the "current price" in the edited original post is WRONG!!! current highest bid: 0.51 current highest ask: 0.51989999 What sort of deal are you running where the "current price" is a price I've never been able to get, including RIGHT NOW (it is not the current price) Here is what I've been paying for my shares: NASTY x1 @0.64 at or around 2012-08-27 21:45:10 NASTY x1 @0.5449 at or around 2012-08-14 00:04:47 NASTY x1 @0.73999 at or around 2012-08-04 04:48:54 NASTY x4 @0.509 at or around 2012-07-31 16:39:38 NASTY x3 @0.55 at or around 2012-07-27 04:05:45 NASTY x1 @0.54 at or around 2012-07-27 04:02:31 out of all eleven (11) shares I've bought to date, none have ever been for the price you typically have listed for "current" price. EDITED TO ADD screenshot from at or around 2323 GMT, Monday September 17th 2012 Couldn't help but dig up something like this look at the prices! - think we may just go up to .80 BTC a seat once word gets out that the ASICs are running! |
|
|
|
|
Thanks Nasty! Been eagerly checking to see the units that are being returned go offline, really appreciate that functionality you posted on the 1st page!
|
|
|
|
|
Thank you for posting this, I really think it has a lot of merit and you've raised some excellent points! I particularly find the points about locking up liquidity helping stabilize the currency along with likely increasing prices to be powerful.
My concern would be specifically around constructing the environment to facilitate this type of transaction. The tighter the controls on such a system, the more trust required. For instance if we had a single lock fund that was centralized, potentially it's a huge target from a legal perspective if the identity of the person who maintains it is known, and then if they are not known (or even if they are) there's a tremendous potential for funds to be walked off with. So I think this would be out. A "gentlemen's agreement" provides too easy an incentive to break it, even if there was some form of penalty tied to activity coming from an account (not sure what penalty would be best to employ?).
So as trust is key, let's start off with creating an open source application that will generate a public address, but will split a private key into two parts, the first is given to you via email upon the deposit to the "lock box" address that was generated. The second half of the private key would be stored in a centralized database, which would maintain the user login, email address, and public key address. After an agreed upon time-frame the users would receive back the second half of the private key so they could redeem the funds stored.
Now, outside of the rise in prices associated with the liquidity being tied up, I'm thinking like you noted we'd need to address emergency needs users would have...so maybe address it like a 401k does, there being an early withdrawal fee...which then gets redistributed back to all users who have maintained their balances in their accounts. The potential gains by keeping your funds in over the time frame, along with a stiff fee for an early withdrawal should serve as enough incentive.
My only other concern on such a system would be that the centralized database that stores the second half of the private keys would be a big target by many for attacks if it is known that such a large number of bitcoins could be permanently wiped out. So there may need to be some creative problem solving around that, maybe use replicated servers that would serve as deadman switches and would trigger emails after the original time frame if a disconnect occurs with the original central server.
Anyway, figured I'd just get the ball rolling with some ideas, would love to see this get some traction as well! It's interesting because using such a system it would potentially be feasible to actually create a "savings" account where "interest" would be generated by those withdrawing early.
|
|
|
|
UPDATE:Bitcointalk user & BitFunder.com owner Ukyo has been kind enough to donate 1,000 shares of Graet.Loan to NASTY MINING! I can't thank him enough for this extremely generous action. I've decided to purchase an additional 2,000 shares, as Graet runs Ozcoin and I believe this is a safe and lucrative use of our savings. You can check to see exactly what holdings we have on BitFunder using the Public Asset Holdings List and searching for our address (1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ). I will also keep the OP updated with any changes. I have full confidence with BitFunder securely holding a portion of our savings and have been very impressed with the features they offer, such as automatic reinvestment (which I have enabled). Thanks again to Ukyo & BitFunder.com! Very nice! Happy to see us accruing several different types of assets! Thank you Ukyo!!! |
|
|
|
Thank you. I think given the delays and available equipment we should rather sooner than later think of buying more mining power. I think that < 10GH\s for 51.99BTC is a good offer. http://wtcr.ca/catalog/product/bm-ambe1-01 The question (is if we choose so) how could we finance this if we have only 80% of the price today. It is only some 10BTC. On this occasion I would opt for a rule with regards to upgrading. In the future we should be upgrading asap when we have enough funds to pay for the best available offer on the market (excluding eruptor USB stick toys of course however I might be wrong). What do you think ? My only concern is that at current difficulty the ROI on this would be at least 4 months. While this isn't huge I can't help but feel BFL is finally getting their act together and will start shipping and get through their backlog within 2-3 months, then we'd be able to order off-the-shelf and without the large price markup. Don't get me wrong - I want mining power ASAP, but I think the price for the power isn't worth it. |
|
|
|
|
Noticed NastyFans is down, there any issues or problems, or just maintenance?
|
|
|
|
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.
I agree with everything you just said. I'm in agreement as well, I think selling our preorders at this point is just a form of cannibalism as well. |
|
|
|
|
Quick question - do the orders have expedited shipping? If not could we put this up for a vote to use some funds toward?
At current difficulty per SC we'd be getting ฿2.99/$303.58 per day. The expedite fee is ~ $230 (USD). So if we received the orders in even 4-5 days earlier that'd be significant.
|
|
|
|
|
Order # 4241 also upgraded to little SC.
|
|
|
|
There are 2 open polls for policy changes. Both polls have majority now. The policy changes are implemented now. - change automatic vote to "abstain" (goes into effect for the next poll)
- send 25% of donations to NASTY MINING (goes into effect for the next donation distribution)
Woohoo. Thanks for your work nonnakip!   Between the policy change, the jalapeņo working, and BFL's last email - great things are ahead for all of us!!! |
|
|
|
|
Show Posts
