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Author Topic: NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)  (Read 798426 times)
redbeans2012
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August 18, 2013, 07:13:43 PM
 #1381

NASTY MINING: Monarch Upgrade Loan
Requested Amount: BTC200
Payment Address: 1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ

LOAN REQUEST:
I am raising funds to take advantage of the Butterfly Labs Monarch upgrade program for NASTY MINING.  I am personally pledging BTC25 to the effort and will not be repaid anything until all other lenders have been repaid in full.  Lenders will be repaid by NASTY MINING's 25% share of NastyFans' donation distributions.  Lenders will not be repaid until our other loan is paid in full.  

If you are interested in participating in this loan, please see the following thread for more information: NASTY MINING: Monarch Upgrade Loan

This loan request could be going better...  I really think we should try hard to raise these funds immediately in order to remain in the front of the next upgrade cycle.  If anyone has BTC5 or more that they would like to lend, please contact me.  I would really like to get some of our remaining 4 ASIC orders upgraded today.

So will this mean Nasty will not be getting the Singles?

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August 18, 2013, 07:35:43 PM
 #1382

NASTY MINING: Monarch Upgrade Loan
Requested Amount: BTC200
Payment Address: 1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ

LOAN REQUEST:
I am raising funds to take advantage of the Butterfly Labs Monarch upgrade program for NASTY MINING.  I am personally pledging BTC25 to the effort and will not be repaid anything until all other lenders have been repaid in full.  Lenders will be repaid by NASTY MINING's 25% share of NastyFans' donation distributions.  Lenders will not be repaid until our other loan is paid in full.  

If you are interested in participating in this loan, please see the following thread for more information: NASTY MINING: Monarch Upgrade Loan

This loan request could be going better...  I really think we should try hard to raise these funds immediately in order to remain in the front of the next upgrade cycle.  If anyone has BTC5 or more that they would like to lend, please contact me.  I would really like to get some of our remaining 4 ASIC orders upgraded today.

So will this mean Nasty will not be getting the Singles?

Not if we can raise the funds to upgrade them, which is absolutely necessary if we want to keep up with the rat race.

EDIT:  I have upgraded another of our 60GH/s miners to 600GH/s.  One of our 60GH/s miner orders is not too far away from being shipped, so we can keep that one for the near term power it will provide if people would like.  However, I would like to upgrade at least 2 more of them carrying older dates.  We are currently 40 BTC short to upgrade the remaining 2 orders.  If the BTC to place those orders isn't raised in the next few hours, I will most likely just trade in 2 orders for 1 upgrade, and if any more funds are raised, I can use them to place new orders.

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redbeans2012
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August 18, 2013, 07:45:20 PM
 #1383

It seems alot of competition is coming round the corner in the next couple of months.  I would think patience might have been a better route to take.  It could very well be a year before you see these things.  

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August 18, 2013, 09:33:58 PM
 #1384

It seems alot of competition is coming round the corner in the next couple of months.  I would think patience might have been a better route to take.  It could very well be a year before you see these things.  

Patience rarely pays off in the BTC mining world and our current orders would most likely become worthless if they are not upgraded and upgraded quickly.  Had I not acted quickly with the last round of upgrades BFL offered, we would still be mining at 1MH/seat. Instead, we now have over 180MH/s per seat that is paid for, and that number will continue to increase.  It really is amazing the amount of growth we've seen in such a small period of time.  My hope is to continue that growth and being patient doesn't seem to be the way to achieve that goal.  There are other projects in the works that will provide mid-term (I think 3-6 months is "mid-term" in the BTC world) donations while we await these new miners.  Our immediate focus should be upgrading and then bringing new products and services to the table while we repay our debts.


I will most likely just trade in 2 orders for 1 upgrade, and if any more funds are raised, I can use them to place new orders.

I have done this.  I think we should keep our last remaining preorder and hope that it ships soon.  Thoughts?  Any more funds raised this weekend (possibly longer?) via our loan request will now go towards purchasing new 600GH/s units.  

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August 18, 2013, 11:51:59 PM
 #1385

Patience rarely pays off in the BTC mining world and our current orders would most likely become worthless if they are not upgraded and upgraded quickly.  Had I not acted quickly with the last round of upgrades BFL offered, we would still be mining at 1MH/seat. Instead, we now have over 180MH/s per seat that is paid for, and that number will continue to increase.  It really is amazing the amount of growth we've seen in such a small period of time.  My hope is to continue that growth and being patient doesn't seem to be the way to achieve that goal.  There are other projects in the works that will provide mid-term (I think 3-6 months is "mid-term" in the BTC world) donations while we await these new miners.  Our immediate focus should be upgrading and then bringing new products and services to the table while we repay our debts.
True

I will most likely just trade in 2 orders for 1 upgrade, and if any more funds are raised, I can use them to place new orders.


I have done this.  I think we should keep our last remaining preorder and hope that it ships soon.  Thoughts?  Any more funds raised this weekend (possibly longer?) via our loan request will now go towards purchasing new 600GH/s units.  

I agree on keeping the last preorder as is. I sent you 5 as I hadn't read this yet. But am happy to contribute!

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August 19, 2013, 05:33:52 PM
 #1386

I sent you 5 as I hadn't read this yet. But am happy to contribute!

Thank you!  We have just surpassed 5TH/s in total purchased equipment.  I would like to order a 9th Monarch before the buying spree ends, to give us 3 - 3xMonarch miners once all is said and done.

I am truly grateful for and amazed by the amount of support I continue to receive from NastyFans.  Excellent group of folks.


UPDATE:
Last night our 9th and final Monarch was ordered.  That gives us a current total of 5.82TH/s in purchased equipment.   Kiss

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August 20, 2013, 07:15:44 PM
 #1387

Good luck on these... BFL has a pretty bad track record. 

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August 20, 2013, 07:57:27 PM
 #1388

Good luck on these... BFL has a pretty bad track record. 

<Hope> There is only one way BFL's track record can go from here.... </hope>
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August 20, 2013, 08:28:20 PM
 #1389

BFL has a bad track record but right now, they are shipping. A year late of course. Will it be a year late this time? And will they ship before the other 28nm wanabees? I'd say unlikely and likely.

I don't know how you can say that.  To me they are losing lots if $$ cause people are forcefully getting refunds.  They need more cash to stay alive.  I've been with nasrymining for a couple years just got rid of my shares.  Maybe ill be back if they ever deliver.  Good luck guys

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August 20, 2013, 09:06:01 PM
 #1390

BFL has a bad track record but right now, they are shipping. A year late of course. Will it be a year late this time? And will they ship before the other 28nm wanabees? I'd say unlikely and likely.

I don't know how you can say that.  To me they are losing lots if $$ cause people are forcefully getting refunds.  They need more cash to stay alive.  I've been with nasrymining for a couple years just got rid of my shares.  Maybe ill be back if they ever deliver.  Good luck guys

I think you've been reading too many conspiracy theory posts. A company that needs cash to stay alive doesn't tape out 28 nm chips. Falsely claiming that they have to get orders is jail-time criminal; their names and addresses are all well known. The evidence points to a company that actually is healthy, and there appears to be a significantly larger (50x based on forum posts/references alone) population of people that received products to those that received refunds. 2% loss isn't something you want, but is something you can live with -- especially since you didn't sell their product and can sell it to someone else (at a reduced cost in a few months).

History has shown 2 things about BFL:

1) They've been very late and over-promised (both ASICs and FPGAs)
2) People that ordered on the first day make lots of money

hopefully Nasty got in on time for the bullet run.
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August 20, 2013, 10:39:07 PM
 #1391

History has shown 2 things about BFL:

1) They've been very late and over-promised (both ASICs and FPGAs)
2) People that ordered on the first day make lots of money

hopefully Nasty got in on time for the bullet run.

Well, I for one believe (hope) that Nasty did jump on it in time.

And as for BFL, I know at least one person who ordered from them (aside from Nasty) and have eventually received their equipment. It works as advertised, is efficient and looks polished.  Had he received it a month from when he ordered it, well, he PROBABLY would have made more money, but then again, if he received his at that time, others likely would have received theirs at that time and the difficulty would have been driven up that must faster

Depending on how you look at it, BFL might have done those of us who are mining with GPU's or maybe some Eruptors a little bit of a favor in that slowly releasing the ASICs has driven the difficulty up a bit slower than if they had fulfilled all of their orders in 2 months of the order date and flooded the BTC network with ASICs.  I'm just speculating here because I don't know the number of order vs. what they shipped and when those orders were placed vs when the shipped units were shipped.  (Also, I'm a relative newbie in terms of Bitcoin and still have a lot to learn.)

But my thought is, what other options are there? I know there are some blades out there that work, but other than that, I don't know of anyone who has a working product and is shipping.  KnC hasn't released any products yet (unless I'm mistaken).  I'm not sure if they are still on target for (I think they said October of this year) or not but, well, BFL has reinforced my, I'll believe it when I see it method. At the moment, I've seen some of BFL's product, if nothing else in terms of the difficulty. Also, it looks like BFL is only doing 1 product for their '2nd' generation ASIC's which should simplify things drastically, and, they have good experience in terms of "getting the kinks out" of their operation having learned the hard way.  Well, here's hoping anyway!

Either way, ordering mining equipment from ANYONE is a risk at this stage of the game. I think BFL is a good bet right now.  Am I happy with them? Nope, I'm still waiting on an order myself - and I suspect that it won't really be "worth" it by the time I get it. 

And heck, I trust OG Nasty!  He's a stand up guy from what I've read (this whole thread and other posts of his.)

I'm just hoping that BFL gets those chips soon and can start working out the kinks..

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August 21, 2013, 07:14:30 AM
 #1392

hopefully Nasty got in on time for the bullet run.

I hope so as well.  I acted as fast as I could when I saw the news.  Our first order for 5 Monarchs was paid for roughly 80 minutes after the first mention of it on the forum.  Wish I would've seen it sooner.

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August 21, 2013, 01:20:33 PM
 #1393

That was pretty fast to get an order in... I can't imagine too many people ordered that quick.  They are still shipping day 1 orders from over a year ago.  Not many people have a lot of trust in them. Glad to own a NastyFans seat btw!

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August 21, 2013, 03:45:04 PM
 #1394

Is it just me or are we getting hit with some really bad luck this week?

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August 21, 2013, 04:43:20 PM
 #1395

Is it just me or are we getting hit with some really bad luck this week?


Yes, it's awefull  Sad

Variance is a bitch, we had inedible luck the week before.

It would even ou more if more people would use P2Pool or mine at a public P2Pool Node.

It's sad that so few people use P2Pool, it would be more even if more people would atctualy be more interested about what mining is and use P2Pool, instead of just letting themselves pay by selling shares to a pool.

All previous versions of currency will no longer be supported as of this update
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August 21, 2013, 05:34:00 PM
 #1396

It's sad that so few people use P2Pool

I agree.  This is something we're hoping to help change soon.

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August 21, 2013, 05:36:03 PM
 #1397

Maybe I should try mining p2pool... sadly i have never given it a shot.

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August 21, 2013, 08:27:48 PM
 #1398

Maybe I should try mining p2pool... sadly i have never given it a shot.

I highly recommend it to anyone with enough mining power. 0 fee PPLNS (Some public nodes charge a fee). All TX fees collected in the block are paid to miners. The block finder gets a small bonus.
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August 21, 2013, 10:02:36 PM
 #1399

I highly recommend it to anyone with enough mining power.
What is 'enough' mining power?

Honestly, I've only mined through BitMinter... So maybe I'll check it out when I get home from work..


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August 21, 2013, 10:22:56 PM
 #1400

Well for BTC I have 350GH total. 

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