NastyMining - Free Electricity, No Fees, NastyFans.org

[Squirrel Dearing]

There are always a lot of unknowns...  I'm doing my best to keep our growth rate ahead of the overall network while at the same time introducing new sources of BTC donations.  The end of the year should prove to be very exciting for NastyFans.  Giving up our BFL orders at this point just isn't going to happen.  I would think at the very least they will be reselling at a premium for people in the bullet run.  Also, we got up to a 25% discount on our Monarch orders (some lower because of a 10% order transfer fee).

Yup, I remembered that we had a bunch of BFL discounts.. And yup, a lot of unkowns!  No Risk = No Reward!

Anyway, I'm very happy and appreciative with all of your efforts (and nonnakips too) for us Fans!  Thanks for all you do!

Reselling at a premium is something to think about I suppose..

[Blazed]

Good luck selling a BFL pre order for what you even paid for it.  I hope it all works out, but have 0 faith that the Monarch will even ROI by the time it ships.  Either way I really like NastyFans and will support it any way I can!

[OgNasty]

I've ordered a 2TH/s TerraMiner IV from Cointerra, Inc.  It cost roughly 33 BTC, but I'm going to hand this order over to Nasty Mining for a 30 BTC debt to be repaid later.  If anyone is against taking over the Cointerra order, please make your concerns known.  Otherwise, I will make this order official for Nasty Mining.

Also worth noting, NastyFan kroneko expressed an interest to offload his 5 BTC in Nasty Mining debt.  I worked a deal with him and used my personal funds to repay this debt for us.

[iCEBREAKER]

I've ordered a 2TH/s Terraminer from Cointerra, Inc.  It cost roughly 33 BTC, but I'm going to hand this order over to Nasty Mining for a 30 BTC debt to be repaid later.  If anyone is against taking over the Cointerra order, please make your concerns known.  Otherwise, I will make this order official for Nasty Mining.

Also worth noting, NastyFan kroneko expressed an interest to offload his 5 BTC in Nasty Mining debt.  I worked a deal with him and used my personal funds to repay this debt for us.

I object to gambling on any chip that hasn't actually taped out. 

Let someone else pay Cointerra's NRE, especially since they seem to be having some trouble with mock tape-out.

[Equilux]

Why still no KnC order? They've more then proven themselves, especially compared to other groups who have not produced a working product.

[OgNasty]

Why still no KnC order? They've more then proven themselves, especially compared to other groups who have not produced a working product.

KNC Miners have some issues with work restarts that make them run horribly on p2pool. They also are about 1/2 as power efficient as our Monarchs. I don't think KNC Miners will be profitable long enough to be a reasonable investment at this time. Especially when considering their issues with p2pool.

[kmtan]

keeping monitoring...await a good time to invest...

[maqifrnswa]

nonnakip has done a great job on the site, made us immune to a lot of the uncertainty going on. I think the idea of holding no BTC on the site and just brokering private deals is brilliant, and I understand why there are only asks and no bids. Would it be possible, however, to make a pseudo-bid sheet? Maybe set up an alert system, something like:

sign up for email alerts if someone posts an ask at or below your pseudo-bid (pseudo-bids may or may not be public)
or
if someone posts an ask at or below your pseudo-bid, begin the process of exchanging shares (email the buyer the BTC address and place the shares on hold as if they bought it on the site)

it will help liquidity a little bit by letting people know that there may be an opportunity for quicker liquidation at a price. It's possible to abuse the system in the same way the current system can be abused (by reserving shares with no intention to purchase), and the bid system can be limited to existing fans (most hold a seat before placing a pseudo-bid).

[Carnth]

Would it be possible, however, to make a pseudo-bid sheet? Maybe set up an alert system,

Speaking of which, I have a large number (150+) of seats up for sale. I am shutting down 2 funds from btct.co (MiningCo.ETF and NASTY-PT) and liquidating the seats each held.
If you are looking to get seats at a price that's fair for everyone, please send me a PM. You don't have to buy the whole lot. I'll work with you on this.

Thanks.

[nonnakip]

1 poll opened

[member opinion] take over 2 TH/s TerraMiner for 30 BTC

[Jeagle]

I think it´s very important that we gain soon more hashing power so that the MHs/seat increases. Because if this happens, more people will get to know nastyfans, more people support it, more btc are available to buy better equipment. Correct me if my thoughts are wrong. By now we are hashing at about 420 GH/s +- a few hashes. If we cancel the Monarch order, which would be about 5.4 TH/s (more than 10 times what we already have) and which should be arrive "soon" since ognasty was one of the first orders, we would still mine at 420GH/s for even a longer period of time. I don´t think that this would be a genius step. The 2TH/s miner however seems to be quite nice, but it is still 3 months till we get this sweet little baby to mine for nastyfans. Not a bad purchase, but we shouldn´t buy too many new miners, unless we are debtfree and hashing at the combined 6 TH/s to attract more people.

As I said first, please correct me if I´m wrong with anything, no problem with it, I just want to share my thoughts with you.

[nonnakip]

I understand why there are only asks and no bids. Would it be possible, however, to make a pseudo-bid sheet? Maybe set up an alert system, something like:

sign up for email alerts if someone posts an ask at or below your pseudo-bid (pseudo-bids may or may not be public)
or
if someone posts an ask at or below your pseudo-bid, begin the process of exchanging shares (email the buyer the BTC address and place the shares on hold as if they bought it on the site)

I will consider this more. I believe fans want something more active. Bids should be visible to members so they can decide immediately if they have potential buyers. Instead of playing games of reducing sale prices every day to find buyers.

I imagine it works like this:

1. buyer post bids
2. seller choose bids to fulfill
3. buyer notified on E-mail to send payment within 144 blocks (seller seats locked during this time)
4a. after payment received seats transferred to buyer
4b. no payment received unlocks seller seats and removes bid

[Akka]

I understand why there are only asks and no bids. Would it be possible, however, to make a pseudo-bid sheet? Maybe set up an alert system, something like:

sign up for email alerts if someone posts an ask at or below your pseudo-bid (pseudo-bids may or may not be public)
or
if someone posts an ask at or below your pseudo-bid, begin the process of exchanging shares (email the buyer the BTC address and place the shares on hold as if they bought it on the site)

I will consider this more. I believe fans want something more active. Bids should be visible to members so they can decide immediately if they have potential buyers. Instead of playing games of reducing sale prices every day to find buyers.

I imagine it works like this:

1. buyer post bids
2. seller choose bids to fulfill
3. buyer notified on E-mail to send payment within 144 blocks (seller seats locked during this time)
4a. after payment received seats transferred to buyer
4b. no payment received unlocks seller seats and removes bid

I really love the minimal trust exchange you have build. That concept is really awesome.
But yes, bids are a problem. I see a risk of face bids here, which some sellers post in the hopes serious buyers bid above them so they can sell their share for a higher price.

[nonnakip]

... bids are a problem. I see a risk of face bids here, which some sellers post in the hopes serious buyers bid above them so they can sell their share for a higher price.

This problem exists now also. A member can start purchase orders for N seats in repeat so their seats are always the cheapest available. But this is abusing nastyfans and a member risks their membership with this behavior. (I always confront and discuss possible behaviors with member before taking serious action.)

If bids are fulfilled but buyers are not paying this is abuse of nastyfans and also risks membership.

Until now there are no abuse scenarios within fanclub. I expect a bid environment will not cause problems also.

[maqifrnswa]

an idea to get nonnakip some BTC for his effort...

Have you thought about licensing your trust-free seat management software? lots of cloud mining services lost their exchanges, you could license your code to them (or host it yourself for a licensing fee).

[pyra-proxy]

an idea to get nonnakip some BTC for his effort...

Have you thought about licensing your trust-free seat management software? lots of cloud mining services lost their exchanges, you could license your code to them (or host it yourself for a licensing fee).

Hosting for them would be a great idea!  It attracts more people to the system in general and that is good for everyone involved!  If you do this, perhaps add some stats like hash-rate and asset valuation for each seat for each offering.

[nonnakip]

an idea to get nonnakip some BTC for his effort...

Have you thought about licensing your trust-free seat management software? lots of cloud mining services lost their exchanges, you could license your code to them (or host it yourself for a licensing fee).

Hosting for them would be a great idea!  It attracts more people to the system in general and that is good for everyone involved!  If you do this, perhaps add some stats like hash-rate and asset valuation for each seat for each offering.

In the past I receive requests to offer similar environment for other mining operations. None proved serious.

nastyfans is fun for me. Over the last year I receive many nice communication with members. I enjoy being part of this community and it is fun to help. We are together now almost a year and most original fanclub members are fanclub members today also. I am happy to helped make that happen and showing support for NASTY MINING.

[kroneko]

In the past I receive requests to offer similar environment for other mining operations. None proved serious.

nastyfans is fun for me. Over the last year I receive many nice communication with members. I enjoy being part of this community and it is fun to help. We are together now almost a year and most original fanclub members are fanclub members today also. I am happy to helped make that happen and showing support for NASTY MINING.

You sir - rock! You're an incredible asset to NastyFans and we're lucky to have you!! Thank you again, it's been a great run so far, and I'm looking forward to the great times ahead!

[Squirrel Dearing]

In the past I receive requests to offer similar environment for other mining operations. None proved serious.

nastyfans is fun for me. Over the last year I receive many nice communication with members. I enjoy being part of this community and it is fun to help. We are together now almost a year and most original fanclub members are fanclub members today also. I am happy to helped make that happen and showing support for NASTY MINING.

You sir - rock! You're an incredible asset to NastyFans and we're lucky to have you!! Thank you again, it's been a great run so far, and I'm looking forward to the great times ahead!

Well said Kroneko!

[nonnakip]

Thank you for the generous words. NASTY MINING is very cool and that makes my role very easy.