NastyMining - Free Electricity, No Fees, NastyFans.org

[OgNasty]

CoinTerra is offering compensation to early adopters of its latest TerraMiner IV mining rigs, based on the GoldStrike I ASIC.

All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge.

Is this us?

No. Unfortunately, we were a January batch. Looks like we're only getting a discount coupon on a future order.

[wheresmycoin]

Hi,

I have just opened an account and made payment 0.0507btc to own 1 seat.
payment went through to bitcoin address: 1Mes........24nJ.
How come theres no seat owned by me in my account?

[Squirrel Dearing]

Hi,

I have just opened an account and made payment 0.0507btc to own 1 seat.
payment went through to bitcoin address: 1Mes........24nJ.
How come theres no seat owned by me in my account?

Hey Welcome.. Nonnakip will most likely help you out.  I'm guessing you paid with Coinbase?  We've had problems with their transactions not going through in a timely manner before - each time Nonnakip has taken care of the person in question in a very fair way!

[nonnakip]

The internet uplink for the nastyfans Bitcoin processing server shows problems. 33% packet loss. I notified the ISP. I wait for them to respond.

All purchase orders are queued and payments will not be lost. The web interface is on a different server with a different internet uplink. It is functional.

[wheresmycoin]

Hi,

I have just opened an account and made payment 0.0507btc to own 1 seat.
payment went through to bitcoin address: 1Mes........24nJ.
How come theres no seat owned by me in my account?

Hey Welcome.. Nonnakip will most likely help you out.  I'm guessing you paid with Coinbase?  We've had problems with their transactions not going through in a timely manner before - each time Nonnakip has taken care of the person in question in a very fair way!

I paid with bitstamp. what are the steps to do after given a seat.

[wheresmycoin]

The internet uplink for the nastyfans Bitcoin processing server shows problems. 33% packet loss. I notified the ISP. I wait for them to respond.

All purchase orders are queued and payments will not be lost. The web interface is on a different server with a different internet uplink. It is functional.

so I guess it will automatically/detect update my account after server is up.

bought a seat when I saw cheaper bitcoin prices yesterday..

[OgNasty]

The internet uplink for the nastyfans Bitcoin processing server shows problems. 33% packet loss. I notified the ISP. I wait for them to respond.

All purchase orders are queued and payments will not be lost. The web interface is on a different server with a different internet uplink. It is functional.

so I guess it will automatically/detect update my account after server is up.

bought a seat when I saw cheaper bitcoin prices yesterday..

No worries, you will be taken care of. 

[wheresmycoin]

The internet uplink for the nastyfans Bitcoin processing server shows problems. 33% packet loss. I notified the ISP. I wait for them to respond.

All purchase orders are queued and payments will not be lost. The web interface is on a different server with a different internet uplink. It is functional.

so I guess it will automatically/detect update my account after server is up.

bought a seat when I saw cheaper bitcoin prices yesterday..

No worries, you will be taken care of. 

alright. looking forward to this becoming the next Berkshire stock..

[nonnakip]

Distribution 284797 is complete. We thank our donators!

The internet uplink for the Bitcoin payment server is still broken. I reroute traffic temporary to a different uplink so payments work again. All open purchase orders completed before this distribution.

[nonnakip]

With bitcoind 0.9 the rules for tx fees are no more hard-coded. This is good. But it is hard for the nastyfans policy. It maybe not clear what tx fees to add to purchase order prices.

I ask for feedback on some ideas:

Maybe there is no tx fee added to purchase order prices. And payments to sellers are added to weekly distribution instead of separate transactions. This reduces purchase order costs but adds tx fee costs to the distributions.

Another idea is to set a fixed purchase order tx fee cost that goes into a new tx fee account. Payments to sellers are added to weekly distributions and the tx fee account is used to help pay distribution tx fee. This does not reduce purchase order costs but will reduce distribution costs.

Feedback appreciated.

[Yogafan00000]

With bitcoind 0.9 the rules for tx fees are no more hard-coded. This is good. But it is hard for the nastyfans policy. It maybe not clear what tx fees to add to purchase order prices.

I ask for feedback on some ideas:

Maybe there is no tx fee added to purchase order prices. And payments to sellers are added to weekly distribution instead of separate transactions. This reduces purchase order costs but adds tx fee costs to the distributions.

Another idea is to set a fixed purchase order tx fee cost that goes into a new tx fee account. Payments to sellers are added to weekly distributions and the tx fee account is used to help pay distribution tx fee. This does not reduce purchase order costs but will reduce distribution costs.

Feedback appreciated.

Would it be difficult to allow each fan to choose his/her own tx fees?

Offer a 'recommended' default amount based on best practices, but allow people to increase the fee they pay for their transactions if they want faster confirmations, or a lower/free fee for fans whose confirmation time is not a priority. (ie transfers to cold wallets)

This way you can eliminate any 'system' fees and no one can complain about the fee because it's entirely the users choice.

It's an idea anyway....

[pyra-proxy]

With bitcoind 0.9 the rules for tx fees are no more hard-coded. This is good. But it is hard for the nastyfans policy. It maybe not clear what tx fees to add to purchase order prices.

I ask for feedback on some ideas:

Maybe there is no tx fee added to purchase order prices. And payments to sellers are added to weekly distribution instead of separate transactions. This reduces purchase order costs but adds tx fee costs to the distributions.

Another idea is to set a fixed purchase order tx fee cost that goes into a new tx fee account. Payments to sellers are added to weekly distributions and the tx fee account is used to help pay distribution tx fee. This does not reduce purchase order costs but will reduce distribution costs.

Feedback appreciated.

Would it be difficult to allow each fan to choose his/her own tx fees?

Offer a 'recommended' default amount based on best practices, but allow people to increase the fee they pay for their transactions if they want faster confirmations, or a lower/free fee for fans whose confirmation time is not a priority. (ie transfers to cold wallets)

This way you can eliminate any 'system' fees and no one can complain about the fee because it's entirely the users choice.

It's an idea anyway....

Both of nonna's ideas leverage the multiple out feature of transaction by bundling sales and distributions so the speed at which transactions are processed are not really the issue per se ... more how is the fee that nasty mining will pay be collected.

My 2 bitcents...  Charge a low fee to seat sellers only at the time their seat is sold, up to an agreed upon max which will cover a reasonable fee, any excess is returned to nasty mining as part of the distribution, any short coming is paid out of the nasty mining distribution.  A reasonable calculation for this would be to take the average number of seats sold per week (eliminating out lying weeks where there was little trading and weeks where trading was considerably higher than the norm) and then divide the agreed upon fee among that many trades then add a small % on top to help hedge toward the transaction fee being covered by seat sales.  Morale of the story is that a single seat sale should not incur a full transaction fee and hopefully be considerably less.

[smooth]

With bitcoind 0.9 the rules for tx fees are no more hard-coded. This is good. But it is hard for the nastyfans policy. It maybe not clear what tx fees to add to purchase order prices.

I ask for feedback on some ideas:

Maybe there is no tx fee added to purchase order prices. And payments to sellers are added to weekly distribution instead of separate transactions. This reduces purchase order costs but adds tx fee costs to the distributions.

Another idea is to set a fixed purchase order tx fee cost that goes into a new tx fee account. Payments to sellers are added to weekly distributions and the tx fee account is used to help pay distribution tx fee. This does not reduce purchase order costs but will reduce distribution costs.

Feedback appreciated.

1. Pay whatever fee is recommended by the bitcoind client (its supposed to be dynamic or something, I think). 

2. Subtract that from the proceeds of the sale.  Sellers should factor fees into their selling price.

3. Check box for sellers to add seat sales to their distribution account

In the unlikely event that (2) minus (1) above is negative, proceed to (3) regardless of check box.

[OgNasty]

Maybe there is no tx fee added to purchase order prices. And payments to sellers are added to weekly distribution instead of separate transactions. This reduces purchase order costs but adds tx fee costs to the distributions.

I think no tx fees on seat purchases is a great idea.  I support this 100%.

[ripmax]

Hi There

With the recent increase of payouts to help pay of the mining equipment debt, I was wondering if it we be feasible to have the amount owed displayed on the NastyFans website so as the donations are payed out each week we can see our debt coming down.

Thanks

ripmax

[OgNasty]

Hi There

With the recent increase of payouts to help pay of the mining equipment debt, I was wondering if it we be feasible to have the amount owed displayed on the NastyFans website so as the donations are payed out each week we can see our debt coming down.

Thanks

ripmax

The debt owed is Nasty Mining debt.  I'm not sure it would be appropriate to display on nastyfans.org, but that is of course up to nonnakip.  I will look into adding it to the iOS app or you could always check the first post of this thread for the latest information.

[nonnakip]

The internet uplink for the Bitcoin payment server is still broken. I reroute traffic temporary to a different uplink so payments work again.

The official internet uplink for the Bitcoin payment server is fixed. Everything back normal.

[OgNasty]

I uploaded a video of the NastyFans Physical Bitcoin engraving process for those of you who may have been curious.  I engrave all of these coins personally as they are ordered.  Enjoy.

http://youtu.be/uLUKXpaAlHM

I also setup YouTube & Google+ accounts, but Twitter will continue to be the social network of choice for the latest updates.

[kroneko]

Thanks for posting the video - have to say really impressed with how clear the addresses are on the coins themselves, so you've got a great process going there!

Just out of curiosity how are the sales of the coins going?

[silverfuture]

Got some physicals a few weeks ago and I'm very happy with them. Great job!