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Author Topic: NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)  (Read 798579 times)
nonnakip
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March 15, 2013, 08:26:12 PM
 #921

I think this is the best option to buy 2 SCs. The sooner the better. Poll?

What should poll choices be? Maybe
  • 2 BFL SCs
  • 2 Avalon Batch 2
  • hold savings for future poll

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March 15, 2013, 09:29:37 PM
 #922

I think this is the best option to buy 2 SCs. The sooner the better. Poll?

What should poll choices be? Maybe
  • 2 BFL SCs
  • 2 Avalon Batch 2
  • hold savings for future poll

I'm not aware of any other choices that are currently possible. It seems like holding a portion of btc even if some is spent now on new hardware would be wise to take advantage of any surprise opportunities and to hedge against BTC value increase.  

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ErebusBat
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I am the one who knocks


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March 19, 2013, 02:49:15 PM
 #923

On the flip side, what if the bubble pops and drops down to $25?

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March 19, 2013, 04:04:09 PM
 #924

Then it will be a good opportunity to buy  Cool
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March 21, 2013, 08:44:39 AM
 #925

Then it will be a good opportunity to buy  Cool

but to be, perhaps, overly correct, Bitcoin always has a good buying price when transacted from fiat paper Smiley
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March 21, 2013, 03:58:54 PM
 #926

Wow, finally time for the FPGA to ASIC trade-in procedure
(I'm assuming this was cut-copy-pasted from an email)

Quote from: sourced from BFLUPDATE.INFO blogger
Dear FPGA Upgrade Customer,

We are nearly ready to begin shipping and we want to give you time to arrange your trade-in so you won’t lose any time getting into ASIC mining. We are putting forth 3 ways to help you get your miner as quickly as possible...

((...snip...))

Based solely on my own opinion, it looks legit... See link:

MAR 15, 2013: Send your FPGA Trade-Ins



@OgNasty

Which method are we using?

...Have you received any similar email or communication from BFL?
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March 21, 2013, 04:32:38 PM
 #927

@OgNasty

Which method are we using?

...Have you received any similar email or communication from BFL?

We'll be using the regular trade-in method.  I'll ship our FPGAs out to BFL as soon as I get the word.  As of yet, I have received no communication from them.

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kuzetsa
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March 22, 2013, 03:34:11 PM
 #928

@OgNasty

Which method are we using?

...Have you received any similar email or communication from BFL?

We'll be using the regular trade-in method.  I'll ship our FPGAs out to BFL as soon as I get the word.  As of yet, I have received no communication from them.

Ah, really? They haven't sent you a notice? I wonder what the source was for that post by the "BFL Update" blogger

... and like, when BFL is sending out the trade-in announcements, etc...





We spent a total of BTC177.86 which at the time was worth $2,198.00.  We received a BTC38 refund which is currently worth $1,818.30.

I suppose I'll share some good news.... bitcoin prices have increased since last week when our 38 BTC bASIC refund seemed to be "not very good"...
(just checked the volume-weighted average price a few minutes ago, and the following timestamps are Local NY time / Friday March 22, 2013)

Quote from: gribble, the friendly bitcoin utility-bot on freenode IRC / channel
[11:08:42] <kuzetsa> ticker
[11:08:43] <gribble> BTCUSD ticker | Best bid: 72.40936, Best ask: 72.80000, Bid-ask spread: 0.39064, Last trade: 72.87000, 24 hour volume: 87271.17967281, 24 hour low: 68.11000, 24 hour high: 74.90000, 24 hour vwap: 71.57408
[11:11:08] <kuzetsa> calc 38 * [ticker --avg]
[11:11:09] <gribble> 2720.59442

I think... like... isn't $2,720.59 USD something like 20% higher than the USD value of the 177.86 bitcoins which we originally paid for the bASIC orders?

...I just love what the bitcoin exchange rates have done since BFL announced their ASICs are working:

15 March 2013 Update (The following info was on BFL's forum last week)

Quote from: BFL_Josh
((...snip...))

In some other positive news, we've not found a single bad chip yet, which could mean our yield rate will be exceptionally high... maybe we just got lucky out of the 50 chips we have available on boards so far, but it seems unlikely. So that may mean the vast majority of our chips will be usable.

So the good news is the boards work, the chips work, the bumping works, the substrate works. We just need to nail down a bit more with the firmware and we should be able to conduct a full test and start shipping.

((...snip...))
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March 22, 2013, 08:11:06 PM
 #929

Distribution 227437 is complete.

24 seats on probation.

nastyfans starts to feel some pain. Patience for ASICs.

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March 22, 2013, 10:21:35 PM
 #930

Wait a few hundred more blocks, then it's really going to hurt.  Either way, thanks for the div.  Looking forward to the day that BFL actually delivers.
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https://gliph.me/hUF


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March 23, 2013, 02:38:28 PM
 #931

I see the transaction history is up and running. Thanks for that!

OTC rating | GPG keyid 1DC91318EE785FDE | Gliph: lightning bicycle tree music | Mycelium, a swift & secure Bitcoin client for Android | LocalBitcoins
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March 23, 2013, 04:59:05 PM
 #932

I see the transaction history is up and running. Thanks for that!

Yeah thanks! Awesome feature.

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March 25, 2013, 07:07:27 PM
 #933

the value of the shares from last confirmed sale \ btc\$ is not updating
 
nonnakip
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March 25, 2013, 08:41:13 PM
 #934

the value of the shares from last confirmed sale \ btc\$ is not updating
 

Thank you for reporting. The chart on nastyfans.org shows only values when a buy happens. From https://nastyfans.org/buys.csv you see there are no buys since 2.5 days.

The chart on nastyfans.org is ugly. I know this. It will be replaced with a better chart like OgNasty has on NASTY MINING OP. But right now I work on other features.

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March 26, 2013, 12:49:17 PM
 #935

[member opinion] percentage of donations for fundraising
     0%: 2310 (33.8%)
     10%: 903 (13.2%)
     25%: 2434 (35.6%)
     50%: 1115 (16.3%)
     75%: 76 (1.1%)
     100%: 1 (0.0%)
     abstain: 18161
     RESULT: 25% OF DONATIONS SHOULD BE USED FOR FUNDRAISING

In this poll there are 1724 seats that did not vote. With so many no voting members it is difficult to pass any polls with 75% majority. Maybe these members do not want any changes. Or maybe they do not care about nastyfans.

I add a new settings option to automatically abstain from polls. This is for members that do not care about nastyfans.

Dear no voting member! If you do not care about nastyfans please enable this option so the rest of us can make decisions.

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March 26, 2013, 01:29:40 PM
 #936

1 poll opened

[policy change] send 25% of donations to NASTY MINING

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March 26, 2013, 01:35:01 PM
 #937

Doubt this is possible with the way nastyfans works but I'd like to be able to link my votes to another user, ie. I've a lot of confidence in OgNasty so would link my votes to his decisions. It never made sense to me that organisations base important decisions on who has the most money to buy shares :/

We had a poll for this:

[policy change] add configurable automatic votes
https://bitcointalk.org/index.php?topic=86854.msg1513325#msg1513325

It did not pass. In that poll 1393 seats did not vote. If they abstained it would passed.

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March 26, 2013, 10:06:49 PM
 #938

Doubt this is possible with the way nastyfans works but I'd like to be able to link my votes to another user, ie. I've a lot of confidence in OgNasty so would link my votes to his decisions. It never made sense to me that organisations base important decisions on who has the most money to buy shares :/

We had a poll for this:

[policy change] add configurable automatic votes
https://bitcointalk.org/index.php?topic=86854.msg1513325#msg1513325

It did not pass. In that poll 1393 seats did not vote. If they abstained it would passed.



Quote from: http://www.nastyfans.org/policy -- section: polls / voting
any members that do not vote within thirty days of a poll begin will automatically vote for the "no action" choice



At the most basic level, "not voting" is the very definition of abstention:

Abstention, defined on wikipedia

Who wrote the original policy?

1) the policy redefines abstention, and then hijacks / mis-counts actual, literal acts of abstention (formally defined as not voting) and then changes any true abstention to instead be a vote for "no action"
2) why does OgNasty have control of greater than 25% of the seats, and with it, the ability to unilaterally veto any and all polls
3) it only takes a vote of 25% "no action" to veto any policy changes (a vote with 75% in favor is required to change policy)



Two earlier polls under this new system where ognasty's action was basically the only one that mattered (the outcome of the vote would have been reversed by a significant margin)

[member opinion] cancel bASIC orders with BTCFPGA
     no: 2650 (10.8%)
     yes: 21867 (89.2%)
     abstain: 145
     RESULT: CANCEL bASIC ORDERS WITH BTCFPGA

[unowned seats] lottery for unclaimed seats
     no: 2655 (10.8%)
     yes: 21963 (89.2%)
     abstain: 44
     RESULT: HOST A LOTTERY FOR UNOWNED SEATS



Just wanted to point out that nowhere in the nastyfans policy was there any specification / written understanding or documentation (nor any post on this forum) to authorize OgNasty to suddenly have control over treasury seats, complete with voting rights:

Previously, the majority were "treasury shares" back on GLBSE with no voting power or dividends (distributions of donation in the new nastyfans fanclub thingy) ... who is controlling the votes on these "seats" now that everything is on nastyfans.org? It's very different than the way things were handled previously -- On GLBSE, things were more "normal-like" where a distinction was made between:

  • outstanding shares (regular members / users / shareholders)
  • treasury shares (no voting rights or distributions / dividends)

And with no justification for how / why the treasury seats now have voting power, OgNasty acknowledged full control of this unbalanced ability to overrule pretty much any and all votes:

... who is controlling the votes on these "seats" now that everything is on nastyfans.org?

I am.

TLDR
(Too long / didn't read... basically, this section is a summary)

So really, we have a mockery of a voting system:

1) abstention is instead automatically treated like a veto / converted to a vote of "take no action which can be used to fix or amend broken policy"
2) the mining operations manager (or whatever OgNasty's title is) basically has full veto power for everything
(treasury seats are no longer treated separately like they're supposed to be)
3) there is no "3" ... I'll just add that while technically, the 75% "majority vote" requirement isn't inherently abnormal, it's easily abused in light of point number 2
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March 26, 2013, 10:33:54 PM
 #939

I've a lot of confidence in OgNasty so would link my votes to his decisions. It never made sense to me that organisations base important decisions on who has the most money to buy shares :/

Thank you. Your confidence in my ability to navigate this fast changing BTC environment is appreciated. I will continue to do my best to keep things running in a way that benefits everyone.

@OgNasty: The treasury seats were never meant to have voting privileges, and having control of them now to swing a vote is not proportional to the amount of money you put into NastyMining during the IPO on GLBSE, nor are these seats proportional to any further investment(s) made by you on any later date thus far.
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March 26, 2013, 10:38:14 PM
 #940

I've a lot of confidence in OgNasty so would link my votes to his decisions. It never made sense to me that organisations base important decisions on who has the most money to buy shares :/

Thank you. Your confidence in my ability to navigate this fast changing BTC environment is appreciated. I will continue to do my best to keep things running in a way that benefits everyone.

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