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

[OgNasty]

"We could move our hashrate to a larger private BTC mining pool to reduce variance"

Then i don't know or understand which larger private BTC mining pool you would propose?

I have admittedly not researched what other pools are doing in quite some time.  There are many other factors than just operator fee, but I would like to think that 0% fee pools still exist.  Is ELIGIUS still 0% fee?

Yes, i think eligius is still 0% but keeps the trx-fees!

Their web site home page says otherwise, and claims the fees are paid out.

However I'm not a huge fan of their payout method, which has a small degree of Ponzi-ness to it. That said I should say that I have personally used it.

I like the idea of some of the hash rate continuing to support p2pool because it is good for Bitcoin and some on a centralized pool for regular payouts. Some could even go to plain old solo mining (but solo mining on a centralized pool for lottery purposes is silly, and literal solo mining may be too much work). Splitting it up that way has the effect of reducing overall variance.

On the idea of moving away from p2pool, I would discourage too much emphasis on the recent bad luck as that can reverse quickly, but at the same time I do understand that getting no income from too long can be harmful.

Please explain what you mean by "small degree of Ponzi-ness to it." 

I agree that supporting p2pool is a well liked idea.  I'm not sure what nonnakip would like to do as far as NastyPool is concerned.  I think as time passes p2pool will look more and more like solo-mining.  Some diversification might be welcomed.  Perhaps a p2pool/pool combination of some sort.

How do you make BTC to pay for your expenses?

Donations.  Eligius is volunteer run, not for profit.

Eligius certainly appears to be a good match on the surface.

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[armedmilitia]

Eligius certainly appears to be a good match on the surface.

They also have public stats and 105% PPS namecoin payouts, which I'm a fan of.

I mined with them for a while. I got mediocre luck, but it happens to the best of us. 

[smooth]

"We could move our hashrate to a larger private BTC mining pool to reduce variance"

Then i don't know or understand which larger private BTC mining pool you would propose?

I have admittedly not researched what other pools are doing in quite some time.  There are many other factors than just operator fee, but I would like to think that 0% fee pools still exist.  Is ELIGIUS still 0% fee?

Yes, i think eligius is still 0% but keeps the trx-fees!

Their web site home page says otherwise, and claims the fees are paid out.

However I'm not a huge fan of their payout method, which has a small degree of Ponzi-ness to it. That said I should say that I have personally used it.

I like the idea of some of the hash rate continuing to support p2pool because it is good for Bitcoin and some on a centralized pool for regular payouts. Some could even go to plain old solo mining (but solo mining on a centralized pool for lottery purposes is silly, and literal solo mining may be too much work). Splitting it up that way has the effect of reducing overall variance.

On the idea of moving away from p2pool, I would discourage too much emphasis on the recent bad luck as that can reverse quickly, but at the same time I do understand that getting no income from too long can be harmful.

Please explain what you mean by "small degree of Ponzi-ness to it."  

Earlier miners are slightly more likely to have their shares paid than later miners. This depends on a continued supply of new miners (and variance) to keep the payouts going.

It isn't a large factor, but it is there.

I think as time passes p2pool will look more and more like solo-mining.

This is very possible but the future is uncertain. A few years ago p2pool was down to roughly its current share of the net hash rate, then experienced a period of significant growth as some very large miners adopted it. Now it seems to be going in the opposite direction.

[OgNasty]

I met with a solar representative today and got some quotes on the installation of a few different solar systems.  Prices vary between $29,000-$48,000 depending on the system to be installed.  I would love to invest in a solar system for many reasons and think it would be a huge positive for NastyMining.  If anyone is interested in purchasing a large amount of seats (>5 BTC) from me directly in order to enable the purchase of a solar system, please send me a message.

Update:
5 BTC out of the needed 70 BTC has been raised so far.

[DebitMe]

I may not be understanding how this works totally, I have 1 seat at address 1Nasty4EcS2DhFdcMFMDLNumZVLismquYW and it is not showing any donations on hold or any coins at the address.

[OgNasty]

I may not be understanding how this works totally, I have 1 seat at address 1Nasty4EcS2DhFdcMFMDLNumZVLismquYW and it is not showing any donations on hold or any coins at the address.

There's an issue with bitcoind that is making things a little screwy at the moment.  Seat purchases along with statistics are not working.  It is also delaying distributions.  This has no effect on our miners and will be resolved eventually.

[DebitMe]

I may not be understanding how this works totally, I have 1 seat at address 1Nasty4EcS2DhFdcMFMDLNumZVLismquYW and it is not showing any donations on hold or any coins at the address.

There's an issue with bitcoind that is making things a little screwy at the moment.  Seat purchases along with statistics are not working.  It is also delaying distributions.  This has no effect on our miners and will be resolved eventually.

ahh great, thanks for taking the time to respond.  Now the funding for the solar panels, are you more looking to sell seats to fund it or are you also interested in taking out loans to do so?

[OgNasty]

Now the funding for the solar panels, are you more looking to sell seats to fund it or are you also interested in taking out loans to do so?

I am looking to sell my personal seats to fund the panels.  I think this is a good way for me to turn my equity in NastyFans into a positive for the organization.

[nonnakip]

TL;DR Many services on nastyfans.org not working correctly. I am alive. I will fix everything. No distributions will be lost. I ask for patience.


And now full story...

In middle March I had privilege of traveling to meet OgNasty again. There was long talks of current mining situation and the fanclub and current to-do items and the future of Nasty. It was sometimes difficult discussions because some things like P2Pool situation is not good. But in the end we traded many interesting ideas that I hope someday come to be reality. I look forward to discussing these ideas with the fanclub. Some ideas I see OgNasty already presenting: NastyPool mining and nastyfans policy.

During my travels the Bitcoin-Core on our transaction server died. Hard. This was the reason the 2016-03-18 distribution did not happen. After I return home I see many LevelDB errors. I spend some days trying to recover LevelDB database but it was a mess.

I decide that once LevelDB is corrupted there is not much to do except redownload the full blockchain. So I do that but it takes 5 days. This was the reason the 2016-03-25 distribution did not happen.

Unfortunately after successful download of full blockchain LevelDB corruption happens again. It is not hardware errors. Instead the problem is not enough RAM on transaction server. Bitcoin-Core is C++ and this is bad when out of memory errors happen. Things just start crapping themselves. So I move wallet to a fatter server so I can push out 2 missed distributions. After download of full blockchain again I think I am ready. But I make a mistake in moving over transaction server software. This resulted in accidental partial payout. More verification is necessary to be sure all missed and future distributions are 100% correct. This was the reason the 2016-04-01 distribution did not happen.

This week I rethink how the transaction server works. I do not like reliance on Bitcoin-Core because it is a house of cards and a memory pig. I am looking now at creating raw transactions on a server with no blockchain and only keys. I think this makes more sense. Since still there is no transaction server running this is the reason the distribution for today will not happen.

Many nastyfans services are based on transaction server. The JSON services. The auction. The account balance tracking. The distributions. None of these services work since about 4 weeks. I try to get these online again soon but as life has it I am very busy these days. So I find little time for it. I hope this post relieves some questions about what is going on. I look forward to reducing depedency on Bitcoin-Core but it is not a quick change. I ask members for patience and trust that things will return to normal so we can move forward (like bring new online shop online that I mostly programmed in airplane to OgNasty). Luckily we have a public ledger so no Bitcoin can be lost.

[Nixtren]

I'm looking to implement Electrum instead of the heavy Bitcoin daemon on a personal project of mine. It wouldn't be a bad idea to use Electrum on the transaction server

[Equilux]

Wow! Thanks quite an adventure! Keep us posted on how things are working out. I'm curious about these new plans aswell. Thanks for your hard work!

TL;DR Many services on nastyfans.org not working correctly. I am alive. I will fix everything. No distributions will be lost. I ask for patience.


And now full story...

In middle March I had privilege of traveling to meet OgNasty again. There was long talks of current mining situation and the fanclub and current to-do items and the future of Nasty. It was sometimes difficult discussions because some things like P2Pool situation is not good. But in the end we traded many interesting ideas that I hope someday come to be reality. I look forward to discussing these ideas with the fanclub. Some ideas I see OgNasty already presenting: NastyPool mining and nastyfans policy.

During my travels the Bitcoin-Core on our transaction server died. Hard. This was the reason the 2016-03-18 distribution did not happen. After I return home I see many LevelDB errors. I spend some days trying to recover LevelDB database but it was a mess.

I decide that once LevelDB is corrupted there is not much to do except redownload the full blockchain. So I do that but it takes 5 days. This was the reason the 2016-03-25 distribution did not happen.

Unfortunately after successful download of full blockchain LevelDB corruption happens again. It is not hardware errors. Instead the problem is not enough RAM on transaction server. Bitcoin-Core is C++ and this is bad when out of memory errors happen. Things just start crapping themselves. So I move wallet to a fatter server so I can push out 2 missed distributions. After download of full blockchain again I think I am ready. But I make a mistake in moving over transaction server software. This resulted in accidental partial payout. More verification is necessary to be sure all missed and future distributions are 100% correct. This was the reason the 2016-04-01 distribution did not happen.

This week I rethink how the transaction server works. I do not like reliance on Bitcoin-Core because it is a house of cards and a memory pig. I am looking now at creating raw transactions on a server with no blockchain and only keys. I think this makes more sense. Since still there is no transaction server running this is the reason the distribution for today will not happen.

Many nastyfans services are based on transaction server. The JSON services. The auction. The account balance tracking. The distributions. None of these services work since about 4 weeks. I try to get these online again soon but as life has it I am very busy these days. So I find little time for it. I hope this post relieves some questions about what is going on. I look forward to reducing depedency on Bitcoin-Core but it is not a quick change. I ask members for patience and trust that things will return to normal so we can move forward (like bring new online shop online that I mostly programmed in airplane to OgNasty). Luckily we have a public ledger so no Bitcoin can be lost.

[Newar]

For another source of some income, has mining coins such as Gridcoin been considered on the miner controller boxes?

[OgNasty]

For another source of some income, has mining coins such as Gridcoin been considered on the miner controller boxes?

I'm not sure it would warrant the effort.

[OgNasty]

Here are the most recent quarterly performance numbers.  I am predicting the current quarter will have the highest (USD) distribution amount in more than 2 years.

(click to enlarge)

[OgNasty]

The 2oz .9999 Gold NastyFans Minted Seats have gone into production.  Payment has been finalized and a $5,000 donation has been sent to NastyFans.  This payment also includes our recent mined coins from Eligius.

https://blockchain.info/tx/d9ba461adb76658fde1c8c0015a765a45873eadcdfe25256d5a67b1555a76ae7

[jetyap]

Hey guys,

I have 10 S5 machines (11550GH/s) with Bitmain which is about to expire from cloud mining and I am thinking of donating those machines to NastyFans. I just want to see if there's an interest to accept them in? If the shipping costs to wherever your mining operations are can be covered/reimbursed, I'd be happy to arrange it once the machines have been decommissioned. Thanks.

Jet

[OgNasty]

Hey guys,

I have 10 S5 machines (11550GH/s) with Bitmain which is about to expire from cloud mining and I am thinking of donating those machines to NastyFans. I just want to see if there's an interest to accept them in? If the shipping costs to wherever your mining operations are can be covered/reimbursed, I'd be happy to arrange it once the machines have been decommissioned. Thanks.

Jet

PM sent.

[naypalm]

Hey guys,

I have 10 S5 machines (11550GH/s) with Bitmain which is about to expire from cloud mining and I am thinking of donating those machines to NastyFans. I just want to see if there's an interest to accept them in? If the shipping costs to wherever your mining operations are can be covered/reimbursed, I'd be happy to arrange it once the machines have been decommissioned. Thanks.

Jet

Very cool!

[OgNasty]

One of our S7's has been down for about 24 hours.  After looking into it, it appeared to be due to a firmware issue that relied on a 114.114.114.114 DNS server in China that has gone down.  I have updated the firmware and things are up and running again.  

EDIT:  Machines went down again for a few hours on 4/23 because my internet went down... 

[armedmilitia]

One of our S7's has been down for about 24 hours.  After looking into it, it appeared to be due to a firmware issue that relied on a 114.114.114.114 DNS server in China that has gone down.  I have updated the firmware and things are up and running again.  

Funny how it's literally the internet's fault that the s7 wasn't working.
(Okay, not really, but close enough!)

Glad to hear it's back up though.