NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)

[JimiQ84]

No way that anyone actually thought these would ship before March 2014... These will never ROI.

Asicminer product's are already more profitable than Monarchs. Monarch was really really bad investment.

[1714219587]

1714219587

[1714219587]

1714219587

[OgNasty]

No way that anyone actually thought these would ship before March 2014... These will never ROI.

Asicminer product's are already more profitable than Monarchs. Monarch was really really bad investment.

I can't tell if you guys are serious... Do you even look at power usage? I know a lot of you are emotional about placing late orders with BFL and not getting rich instantly like you thought, but this pitchfork stuff is getting out of hand.

[JimiQ84]

No way that anyone actually thought these would ship before March 2014... These will never ROI.

Asicminer product's are already more profitable than Monarchs. Monarch was really really bad investment.

I can't tell if you guys are serious... Do you even look at power usage? I know a lot of you are emotional about placing late orders with BFL and not getting rich instantly like you thought, but this pitchfork stuff is getting out of hand.

Power usage doesn't matter until diff 5 billion or so. And by then monarch will mine peanuts throughout it's lifetime. Even the first one shipped.

[Blazed]

Sorry to be so harsh about them, but they do screw a lot of people over.  Then you see a company like KnC and ASICMiner that meet deadlines, and do not treat customers like garbage.  With BFL's track record and the current network hashrate... I just do not think these will workout to more BTC than you paid for them.  Since I own some seats I hope that I am wrong though

[OgNasty]

Sorry to be so harsh about them, but they do screw a lot of people over.  Then you see a company like KnC and ASICMiner that meet deadlines, and do not treat customers like garbage.  With BFL's track record and the current network hashrate... I just do not think these will workout to more BTC than you paid for them.  Since I own some seats I hope that I am wrong though

BFL has always delivered what they said to me and they replaced our damaged unit with a 24 hour turnaround.  They also deliver a superior product, both in engineering and efficiency.

Here are the hardware numbers:
Avalon - 117MH/J
ASICMiner - 130MH/J
KnC Saturn - 400MH/J
BFL Monarch - 1714MH/J

[Equilux]

Sorry to be so harsh about them, but they do screw a lot of people over.  Then you see a company like KnC and ASICMiner that meet deadlines, and do not treat customers like garbage.  With BFL's track record and the current network hashrate... I just do not think these will workout to more BTC than you paid for them.  Since I own some seats I hope that I am wrong though

BFL has always delivered what they said to me and they replaced our damaged unit with a 24 hour turnaround.  They also deliver a superior product, both in engineering and efficiency.

Here are the hardware numbers:
Avalon - 117MH/J
ASICMiner - 130MH/J
KnC Saturn - 400MH/J
BFL Monarch - 1714MH/J

These figures mean very little if you leave out the variable of time, since 400MH/J hashing now is much more likely to break even, then for example, 1714MH/J starting six months from now.

As far as I remember every single product (both in the FPGA-line and in their ASIC-line) has either been late (or extremely late in some cases) or had been overpromised (like the ASIC-single being advertised as 60 GH/s when they were first announced)

Hats off to them for the quick RMA, but that doesn't make them a good bet in my opinion

[OgNasty]

I've always only ordered cutting edge equipment for this operation. When we ordered the BFL Singles, KnC Miners weren't shipping and by the time KnC had proven themselves, the superior Monarch product was available. Now CoinTerra seems to be offering the best product, so our latest order was with them. I have nothing against KnC, I just don't think purchasing their equipment is the right move for us at this time.

[Equilux]

I've always only ordered cutting edge equipment for this operation. When we ordered the BFL Singles, KnC Miners weren't shipping and by the time KnC had proven themselves, the superior Monarch product was available. Now CoinTerra seems to be offering the best product, so our latest order was with them. I have nothing against KnC, I just don't think purchasing their equipment is the right move for us at this time.

The KnC stats where for the example only, to illustrate a point, I agree that ordering from KnC now would maybe not be the best option. The point is that it remains to be seen that it the Monarch will be a superior product, and it is in my opinion even more doubtful it will be the most profitable product when you take into account the delivery dates. That being said I must thank you for your unwavering effort you put into NastyMining.

[kuzetsa]

More open source goodness; Here's a nice frontend / skin (beautification) for p2pool:

https://github.com/hardcpp/P2PoolExtendedFrontEnd

Also, the recent comments suggesting "blah blah blah, go with a less energy efficient miner it doesn't matter" are awfully shortsighted.

In the coming months, anyone with 65nm BFL ASICs will start making less and less return for the same energy consumption, but avalons will hit that point first. Will be a similar case for anyone with the less efficient 28nm ASICs. KNC miners are pretty inefficient as far as 28nm process bitcoin ASICs are concerned, and they will be phased out long before BFL Monarch. This will give OGNasty more time to contemplate the 3rd / 4th generation bitcoin ASICs

[smooth]

In the coming months, anyone with 65nm BFL ASICs will start making less and less return for the same energy consumption, but avalons will hit that point first. Will be a similar case for anyone with the less efficient 28nm ASICs. KNC miners are pretty inefficient as far as 28nm process bitcoin ASICs are concerned, and they will be phased out long before BFL Monarch. This will give OGNasty more time to contemplate the 3rd / 4th generation bitcoin ASICs

Yup. Difficulty jumps are going to slow down because: 1) older ASICs are going to get shut down, 2) the transition to ASICs is largely over, 3) perpetual exponential growth is impossible, and 4) there is nothing "after ASICs," just better ASICs. From here on out it is going to be closer to Moore's Law, which is (very roughly) 100% per year not 100% per month.

Most of the ROI calculators assume a fixed percentage difficulty growth per month. That's wrong.

Keep an eye out because I think there are going to be some good deals on the secondary market when people do not understand this and are dumping their miners or their pre-orders.

I'm very optimistic about the future of mining, but it is a competitive market where success comes from being smart about it, not getting ripped off, buying the right products and operating efficiently.

[Squirrel Dearing]

I'm very optimistic about the future of mining, but it is a competitive market where success comes from being smart about it, not getting ripped off, buying the right products and operating efficiently.

Well said!

[silverfuture]

In the coming months, anyone with 65nm BFL ASICs will start making less and less return for the same energy consumption, but avalons will hit that point first. Will be a similar case for anyone with the less efficient 28nm ASICs. KNC miners are pretty inefficient as far as 28nm process bitcoin ASICs are concerned, and they will be phased out long before BFL Monarch. This will give OGNasty more time to contemplate the 3rd / 4th generation bitcoin ASICs

Yup. Difficulty jumps are going to slow down because: 1) older ASICs are going to get shut down, 2) the transition to ASICs is largely over, 3) perpetual exponential growth is impossible, and 4) there is nothing "after ASICs," just better ASICs. From here on out it is going to be closer to Moore's Law, which is (very roughly) 100% per year not 100% per month.

Most of the ROI calculators assume a fixed percentage difficulty growth per month. That's wrong.

Keep an eye out because I think there are going to be some good deals on the secondary market when people do not understand this and are dumping their miners or their pre-orders.

I'm very optimistic about the future of mining, but it is a competitive market where success comes from being smart about it, not getting ripped off, buying the right products and operating efficiently.

+1

[nonnakip]

Thank you merster and kuzetsa for 2nd-level authentication and p2pool beautification tips. I will review these at convenience.

I am happy to see kuzetsa posting here again.

[smooth]

Guys, this group buy looks pretty good: https://bitcointalk.org/index.php?topic=325618.0

I dabbled myself but thought this group might be interested in a piece too

[maqifrnswa]

Just curious, anyone know what was up with this:
https://blockchain.info/tx/2c60d5aac003fe929a9429f9fc76b5b064a6ff5afae8a08f0f5eaa6ed93988ce

it just deposited to my nastyfans address

[Yogafan00000]

Just curious, anyone know what was up with this:
https://blockchain.info/tx/2c60d5aac003fe929a9429f9fc76b5b064a6ff5afae8a08f0f5eaa6ed93988ce

it just deposited to my nastyfans address

Ya, I got one also.  Not sure why...

[nonnakip]

A fan told me that minimum txfee is 0.0001 BTC. This is true since bitcoind 0.8.2 (June 2013). The nastyfans policy states:

nastyfans uses the Bitcoin minimum for purchase order transaction fees

But nastyfans charged 0.0005 BTC. That was the minimum before June 2013. This means nastyfans charges extra txfees since June 2013.

To remedy this policy violation I do:

• change nastyfans to charge real minimum of 0.0001 BTC
• use personal funds to repay overcharge to current members https://blockchain.info/tx/2c60d5aac003fe929a9429f9fc76b5b064a6ff5afae8a08f0f5eaa6ed93988ce

If a ex-member wants repayment please PM me.

[OgNasty]

A fan told me that minimum txfee is 0.0001 BTC. This is true since bitcoind 0.8.2 (June 2013). The nastyfans policy states:

nastyfans uses the Bitcoin minimum for purchase order transaction fees

But nastyfans charged 0.0005 BTC. That was the minimum before June 2013. This means nastyfans charges extra txfees since June 2013.

To remedy this policy violation I do:

• change nastyfans to charge real minimum of 0.0001 BTC
• use personal funds to repay overcharge to current members https://blockchain.info/tx/2c60d5aac003fe929a9429f9fc76b5b064a6ff5afae8a08f0f5eaa6ed93988ce

If a ex-member wants repayment please PM me.

Thanks nonnakip.  Any chance you would be willing to provide a public donation address for your dedication to NastyFans?

[nonnakip]

Thanks nonnakip.  Any chance you would be willing to provide a public donation address for your dedication to NastyFans?

I have seats in nastyfans accepting donations. People can donate to the fanclub if they like what I do: 1NastyFRkeUTmMdbMmzggDVTQA6r3ibUoX

[maqifrnswa]

A fan told me that minimum txfee is 0.0001 BTC. This is true since bitcoind 0.8.2 (June 2013). The nastyfans policy states:

nastyfans uses the Bitcoin minimum for purchase order transaction fees

But nastyfans charged 0.0005 BTC. That was the minimum before June 2013. This means nastyfans charges extra txfees since June 2013.

To remedy this policy violation I do:

• change nastyfans to charge real minimum of 0.0001 BTC
• use personal funds to repay overcharge to current members https://blockchain.info/tx/2c60d5aac003fe929a9429f9fc76b5b064a6ff5afae8a08f0f5eaa6ed93988ce

If a ex-member wants repayment please PM me.

wow

this amount of honesty and effort is wonderful to see!