Wow..
Honestly, I'm getting kind of sick and tired of checking out this post and seeing complete shitposts claiming this is a ponzi scheme etc.
So for the probably tenth time or more (check back on here and you can see my history) - I'll be happy to discredit much of the FUD and provide personal experience.
Alright kiddies, gather around - it's time for old lesson in the crypto space:
Back in 2012, it was the wild west, not as crazy as the years before where pizzas were going out the door for thousands of bitcoins, but times were interesting enough. Back then getting bitcoin wasn't the easiest thing in the world to do, many of us either mined or went through Western Union or wired money directly to exchanges in order to just get some of that beautiful bitcoin. For those that remember, the waiting process was a pain, and we routinely heard how most/all exchanges at the time were unable to process debit or credit card transactions because of the fact that people would call their bank claiming a faulty charge, and with no chargebacks things were not exactly going to go nicely in bitcoin.
Along came a ton of different securities, and the first batch of securities were all over the place. There were straight up ponzi schemes, there were outright scams, and with crypto being in the place it was at the time, it was nearly impossible to enforce. So back then many of us who were remotely interested in the securities space had to be picky about the ventures we invested in. Back then, I was looking around and found several that I invested in, some ended up doubling almost immediately in value on the securities exchange at the time that it was listed, others gave minuscule returns, and others gave nothing back. Well Johnny Law got involved and shut that exchange down (I forget the name of it, and honestly don't feel like researching which one we were with at the time - as like many I lost a decent amount). If I recall correctly, the exchange was shutting down and did give some grace time, but as you can imagine, at the time most people were liquidating their positions to get whatever they could from it. Now, here's where things get a little bit interesting
and are why calling this group a ponzi scheme makes no sense: . If you're OgNasty, at the time the exchange was going down, there was limited information available on users of that exchange and who had what, here is where he could have let the whole thing dry up like many listings on there and do nothing. Instead, work was done to launch a website, transition active membership over to that new website, and open up an active dialogue with members to seek insight into strategy and investments as a group.
So here's my question:
If OgNasty was running a straight Ponzi scheme, why would he even bother to make the transition work, or solicit feedback on a long term strategy for the group? Back then, most mining groups were straight up "hey we're buying this amount of hardware, and we'll mine until the miners die or the return is nothing".
Anyway, so as a group, we decided to start actively dedicating some returns toward the purchase of new mining equipment to ensure each seat has an ever increasing amount of mining capacity per seat. Along with that, Nasty initiated efforts at fund raising through selling NastyFans branded apparel and coins (which are awesome by the way). Not only that, he's been transparent in all communications, being incredibly responsible whenever I had a single doubt, and has gone as far as doing work to actively help the crypto community with decentralized mining pools. All of this too has come with a lot of headache for him, staying on top of managing mining hardware especially with the unknowns of when new hardware will be available, whether or not it goes down or has any issue, and then even having to make modifications to your house to accommodate the additional power needs - hell he's certainly done a lot.
So every so often we see shit posts here basically blasting this as a ponzi scheme because holding onto bitcoin was a sounder investment than investing with Nasty.
Here's a shocker for you - nearly any traditional investment vehicle has not been able to keep up with bitcoin. That's not a slam against OgNasty or anyone here, mining has a ton of variables - I should know, I used to mine both on GPU and on Gen 1 ASICs (and I have mined a 50 btc block and a 25 block back in the day). Mining is a tough job, and that's one of the reasons I've invested (and
remained invested here, I know that what this group does is good for the crypto community. As the mining arms race has continued, it's difficult for average people to secure large investments into mining equipment which may or may not come at a point that's profitable, and again - this is before you even factor in luck. Because of this, I strongly believe as a community it's important to support decentralized mining in whatever way you are able to do so, and for me - NastyFans is my way of choice. I don't have to deal with the power and infrastructure issues, I'm supporting decentralized mining, and above all
NastyFans has been, and will always be a transparent and cornerstone group of people that I can rely on. The title of this channel notes it was founded in 2012...not many around that can attest to that type of tenure, and for good reason. If OgNasty had a desire to mismanage or walk away, he could have many times over, but he hasn't.
Here's my final point, and I feel bad if this hits a little too close to home OgNasty... The point made earlier about how investments here haven't yielded exponential returns, looking back - OgNasty had he held onto bitcoin has probably lost more potential fiat than anyone on this channel combined. Hindsight is always 20/20, but the work that he's put into this, and the value it has added to the community are why pizzas going for thousands of bitcoins while crazy at the time, are crucial to the history and validation of bitcoin as a viable solution. Without them, bitcoin is just a pipe dream.
Alright - I'm going back to my cave, wake me up in 2024 or when bitcoin reaches 1 million USD!
