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Author Topic: NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)  (Read 798720 times)
nonnakip
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May 15, 2013, 08:06:35 PM
 #1101

1 poll opened

[member opinion] auction off some BFL preorders and buy ASICMINER cards

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May 15, 2013, 08:22:08 PM
 #1102

1 poll opened

[member opinion] auction off some BFL preorders and buy ASICMINER cards

I don't know if this poll is specific enough... If the question is "auction off one of the earliest-6 BFL preorders, my vote is an emphatic no.

If the question is "auction off one of the later batches of BFL preorders" then that is something I could go for.

I expect that the BFL preorder first hours people will see delivery very soon.  The rest of the people are going to be waiting months more.  BFL has not even ordered the volumes that they really need yet to meet more than their first week of preorders.  Any orders not in the first week can safely be sold in my opinion.  Another option is to wait until AM lowers their prices in response to the Avalon 39 TH/s shipping.

For now, given the ambiguity, I'd have to vote no.
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May 15, 2013, 08:27:55 PM
 #1103

I don't know if this poll is specific enough... If the question is "auction off one of the earliest-6 BFL preorders, my vote is an emphatic no.

If the question is "auction off one of the later batches of BFL preorders" then that is something I could go for.

I expect that the BFL preorder first hours people will see delivery very soon.  The rest of the people are going to be waiting months more.  BFL has not even ordered the volumes that they really need yet to meet more than their first week of preorders.  Any orders not in the first week can safely be sold in my opinion.  Another option is to wait until AM lowers their prices in response to the Avalon 39 TH/s shipping.

For now, given the ambiguity, I'd have to vote no.

I think it is not possible to be more specific. There are too many variables. OgNasty says it also depends on price. Later preorders are maybe not enough for the expensive ASICMINER hardware.

I understand that OgNasty is against this. I believe OgNasty only wants to see if overwhelming most members want to sell preorders.

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May 15, 2013, 08:34:16 PM
 #1104

It might be too late, as others also sell their pre-orders to fund AM blade buys.

How's the pre-order market doing, now that AM is selling unlimited quantities of blades? 

If it's still healthy, maybe we should sell.  If it's collapsed, let's just double down on our pre-order bet.

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May 16, 2013, 12:45:13 AM
 #1105

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.
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May 16, 2013, 07:44:41 AM
 #1106

I am deciding my vote in the poll. One of the poll option is "Yes. Auction some Butterfly Labs preorders and buy ASICMINER cards.". May I know how many does "some" refers to? How many preorders do we have and how many are we planning to sell if the majority vote for the selling option?
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May 16, 2013, 07:14:15 PM
 #1107

I am deciding my vote in the poll. One of the poll option is "Yes. Auction some Butterfly Labs preorders and buy ASICMINER cards.". May I know how many does "some" refers to? How many preorders do we have and how many are we planning to sell if the majority vote for the selling option?



I think it is not possible to be more specific. There are too many variables. OgNasty says it also depends on price. Later preorders are maybe not enough for the expensive ASICMINER hardware.
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May 17, 2013, 08:04:55 PM
 #1108

Distribution 236654 is complete. Thank you for donations.

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May 20, 2013, 04:36:47 PM
 #1109

Seems that BFL must have very serious problems with the equipment. It's really frustrating. I doubt we have them this month. Do we have any idea when they are shipping?   
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May 20, 2013, 04:42:17 PM
 #1110

They are shipping more today supposedly and have shown a working 50GH/s unit at the bitcoin conference.
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May 20, 2013, 04:46:51 PM
 #1111

They should be announcing this left and right. But at least some news. Thank you.
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May 21, 2013, 01:11:11 PM
 #1112

Noticed NastyFans is down, there any issues or problems, or just maintenance?
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May 23, 2013, 05:33:54 PM
 #1113

Good. Can we please get an update what are our next steps, what hashrate\seat we are expecting in the coming weeks given BFL is shipping in the next ten days or so ?
Cheers!
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May 23, 2013, 11:53:26 PM
 #1114

Good. Can we please get an update what are our next steps, what hashrate\seat we are expecting in the coming weeks given BFL is shipping in the next ten days or so ?
Cheers!

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.

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May 25, 2013, 04:25:32 PM
 #1115

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  ?
 
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May 25, 2013, 06:45:43 PM
 #1116

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.  
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May 25, 2013, 06:48:41 PM
 #1117

It may be best to wait until another generation is announced, as a smaller feature size (<32nm?) would provide a relatively significant improvement. That advancement will be the primary way of remaining ahead of the game in the coming months, and it can only be taken advantage of with an available pool of wealth. Stretch too thin and Nasty won't have maneuvering room.

If there weren't BFL orders already in place, acquiring ASICMINER hardware would be a good move. However, BFL is delivering now. With the amount of equipment due, it will take a little while to pay itself off in BTC terms (mere days in dollar denomination).

I think a more prudent plan is to allocate 10-20% of current liquid funds to purchases from each manufacturer, weighted based on past delivery performance, hardware capability, and business relationship. There may also be some value in holding a small percentage of funds in alternate chains.

One question - will Nasty be using p2pool? If so, how will merged mining be handled? This appears to be a better choice than relying mainly upon normal pools.
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May 25, 2013, 07:35:31 PM
 #1118

If so, how will merged mining be handled? This appears to be a better choice than relying mainly upon normal pools.
Just FYI, BitMinter does merged mining (MM) for NMC and Bitparking does MM for NMC, IXC and DVC. Both MM on stratum and claim to be ASIC ready (Bitminter had a share of ASICMINER mining there)

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May 25, 2013, 11:04:37 PM
 #1119

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.  

But by this time we could have more BTC for the upgrades. My concern is that we are not mining and therefore we have no purchasing power. And BFL has let down its customers so many times...
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May 27, 2013, 03:37:55 AM
 #1120

One question - will Nasty be using p2pool? If so, how will merged mining be handled? This appears to be a better choice than relying mainly upon normal pools.

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.

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"url" : "nastyfans.org:9332",
"user" : "Donate",
"pass" : "Password"


I think that < 10GH\s  for 51.99BTC is a good offer. 

My only concern is that at current difficulty the ROI on this would be at least 4 months.

But by this time we could have more BTC for the upgrades. My concern is that we are not mining and therefore we have no purchasing power. And BFL has let down its customers so many times...

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.

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