NastyMining - Free Electricity, No Fees, NastyFans.org

[nonnakip]

Distribution 297670 is complete. nastyfans thanks their donators.

[Bees Brothers]

Hey nonnakip,

We were really glad you dropped by and were able to meet you in person.  Enjoyed the conversation!  The boys are a bit more motivated to get done with some of their "boring" studies so they can make room for learning more linux.

I know when one travels, there is only a limited amount of time to see and do all that one wants to.
Thanks for spending some time with us, and thank you OgNasty for sending him over.

[OgNasty]

Update on our ordered 90MH/s scrypt miner.

A Message To Customers!

After much deliberation we believe we have come up with the perfect solution to increasing the value of our batch 1 orders, albeit an obvious solution, but the best one nonetheless. As stated previously we do not want to affect the development of the Vipers any more than we have and are certain it is best not to make any further changes to their production. There have been many websites popping up recently with lofty promises and no proof of their legitimacy or development and we do not think it’s a good idea to alter manufacturing based these possibilities as we are focused on getting our Vipers shipped to our customers as soon as possible. With that said and regardless of their legitimacy we understand competition is inevitable and by the time our devices have released the market will be different than what we all hoped it would be when we first started. Granted, we are still fully confident the Vipers will make ROI but we also want to make sure our batch 1 customers are getting the best value for their money and here is our plan for this:

First off, we are in the early stages of developing a cloud mining service, this will allow customers to pay for hosted mining power, the pros and cons of this will depend on your personal preferences of course so we will continue producing batches of miners for those who prefer to maintain their own devices. Now on to the good news, all batch 1 customers will get free hashing power from our cloud; we do not yet have a date as to when we expect it to be operational so for now we are simply saying as soon as possible. Exact hash rates will depend on the state of the market and network at the time so we will make sure we scale accordingly, but rest assured we are promising a substantial amount for both 16 Mh/s and 90 Mh/s customers. As you can imagine we want the service up and running as soon as possible and as a result of this when it is first brought online there be limited availability so we will start off with just batch 1 customers being able to use it and open it up to the public shortly afterwards.

Secondly in addition to free shipping and being able to order first in batch 2 we are pleased to announce we are giving you 10% off any future batch of your choice. Thank you for your continued support and rest assured we are committed to bringing the best value possible for our customers. We will keep you posted on further developments so stay tuned!

 
Alpha Technology Team

[Bronstad]

What will be the purpose the scrypt miner?

Will it be pointed at an auto-switch pool that pays out in BTC and therefore contributes to the weekly distributions?

Or will it be used to amass a collection of some scrypt coins for other purposes?

[OgNasty]

What will be the purpose the scrypt miner?

Will it be pointed at an auto-switch pool that pays out in BTC and therefore contributes to the weekly distributions?

Or will it be used to amass a collection of some scrypt coins for other purposes?

It will be used to mine scrypt coins.  Possibly through a multi-pool, but most likely held in LTC to add some diversification to our holdings until a purpose for them is found.

[Carnth]

It will be used to mine scrypt coins.  Possibly through a multi-pool, but most likely held in LTC until a purpose for them is found.

I'm ready to submit my LTC address for donations. 

[Zillions]

Well I would prefer a pool like hashco.ws but I'd be willing to take LCT also but that would probably muddy the water with regard to mission statement and create a nightmare for nasty.

[Blazed]

Definitely make more using a multipool that pays in BTC.  LTC is never the most profitable coin to mine directly, but is the best alt for sure.

[OgNasty]

BFL MONARCH UPDATE:

TL;DR - The Imperial Monarch is expected to hash at 1TH/s using 550 watts and the Monarch is expected to hash to 600GH/s using 235 watts.  Products should begin shipping in 2 weeks. 

We have received the new chips and have been putting them through their testing phases. So far, they are performing much better than expected.

I will let this graph speak for itself:



What you are looking at are plots of performance over a large number of chips. The short version is that at lower voltages, the two chip Monarch & Imperial Monarch operates around .27W/GH @ 400 GH/s and at higher voltages, the Monarch will operate around .55W/GH @ 1 TH/s.

What does that translate to in real world numbers? At our nominal speed for the Monarch, 600 GH/s, power consumption is about .3W/GH at the chip level. We expect it to draw around 235W at the wall. The Monarch can be overclocked to approximately 800 GH/s per chip, or 1.6 TH total per board with specialized cooling. The Imperial Monarch is expected to consume about 550W at the wall at 1 TH/s. The Monarch product line is essentially 3x - 5x more efficient at any comparable hashrate than the competition, which should allow you to run your Monarch for much, much longer than any other bitcoin mining device that exists now or that is even planned for the next generation.

Like our 65nm line, we have the absolute best warranty available, anywhere... We offer this because we know our products are well designed and rock solid. We are still offering a 1 year warranty on our Monarch product line and as such, we are going to be shipping boards we have faith in, so you don't end up with malfunctioning, broken or dead boards on arrival. The Monarch was designed from the start with power efficiency in mind, and is software tunable from very low power consumption at slower speeds to higher power consumption (which is still lower than anyone else) at incredible speeds. As bitcoin prices change and as difficulty climbs, power efficiency will dictate how long you can operate your devices. The Monarch line should continue to be profitable long after every other device costs more to operate than it generates in revenue.

Keep in mind, these numbers are from chip level testing. Full system testing is on going as we speak, so these numbers are still preliminary, but they should be fairly accurate as we have a rather large test sample pool of chips. Once we have a fully armed and operational battlestation Monarch, we will publish the final, confirmed power and hashrate figures.

We are not taking a bit of extra time to make things right lightly... because of the efficiency of the chip and the way it initializes itself, there is a huge current draw on startup, which is necessitating that we add a couple minor components to the board design to facilitate chip initialization. We were not able to test this portion of the board until we had actual functioning chips. These are plentiful parts that we already have in stock and we are having the boards manufactured now. Some of the initial boards will roll off the line at the end of the week, with more of them the following week. After the initial boards roll off the line, they will be populated and tested for functionality. Assuming they perform as expected, we will start shipping after all functionality tests are complete.

So when are you shipping? I'm sure that's the question on everyones mind. We plan to begin shipping within the next 10 - 12 days, but that timeline is still in flux as we adjust the board components to best utilize the chips.

[smooth]

BFL MONARCH UPDATE:

TL;DR - The Imperial Monarch is expected to hash at 1TH/s using 550 watts and the Monarch is expected to hash to 600GH/s using 235 watts.  Products should begin shipping in 2 weeks.  

That looks amazing. BFL may yet redeem themselves.

[OgNasty]

MAY UPDATE

I had a lot to mention, so I thought I would try something new by making myself available to answer questions or discuss anything Nasty related in a live chat room event on May 1st @ 1:00pm PST.

Great chat everyone.  The log is available in the history section of NastyFans.org.

MONARCH PREPARATION:
In order to prepare for the arrival of our next generation Butterfly Labs mining equipment, I have purchased 5 - 1300 watt power supplies using funds from the Nasty Mining BTC holdings account.

EQUIPMENT SALES:
I have sold 2 of our BFL Singles.  1 was sold without the power supply for 0.5 BTC, and another was sold on eBay.  I am using proceeds from the eBay sale to pay for various shipping expenses.

FAN OPERATOR PLAN ANNOUNCEMENT:
I have shipped 5 of our 60GH/s BFL Singles to trustworthy fans who have agreed to operate the devices for the remainder of the year.  In exchange for operating the units for us, they will assume ownership of the devices.  The fans operating our devices are ManeBjorn, silverfuture, Bees Brothers, Squirrel Dearing, & bobsag3.

PERCEIVED POTENTIAL CONFLICT OF INTEREST IN POLLS:
I have personally abstained from certain polls in the past where I felt that some could interpret my vote as a potential conflict of interest between NastyFans & Nasty Mining.  However, my view on this precedent has changed now that we are taking on new fans as operators.  I think that every seat should have an equal say on all matters regardless of the role of it's owner and I felt the need to clearly communicate this.

IDEA TO IMPROVE DISTRIBUTIONS:
It has occurred to me that in the ever changing Bitcoin environment, some may feel a desire to adjust the amount that is sent to fans vs what is sent to the holdings account.  I think the current poll system may not be able to sufficiently quench this desire.  I would like to propose a system where each fan is able to set the fans/mining % they feel is appropriate, and an average of participating seats is used for the distribution.  This would give fans the ability to influence the distribution on a weekly basis and would allow for more flexibility in the final % than the current voting system.

BLACK ARROW ORDER UPDATE:
Black Arrow has been less than accommodating with regards to our refund request.  They offered to refund our original BTC payment, which would have represented a 60% loss of our funds measured in USD.  I have cancelled our refund request in response.  They have also announced a new compensation plan where we will receive an additional 1TH/s of hardware, but we will need to provide the power supply.

[nonnakip]

PERCEIVED POTENTIAL CONFLICT OF INTEREST IN POLLS:
I have personally abstained from certain polls in the past where I felt that some could interpret my vote as a potential conflict of interest between NastyFans & Nasty Mining.  However, my view on this precedent has changed now that we are taking on new fans as operators.  I think that every seat should have an equal say on all matters regardless of the role of it's owner and I felt the need to clearly communicate this.

IDEA TO IMPROVE DISTRIBUTIONS:
It has occurred to me that in the ever changing Bitcoin environment, some may feel a desire to adjust the amount that is sent to fans vs what is sent to the holdings account.  I think the current poll system may not be able to sufficiently quench this desire.  I would like to propose a system where each fan is able to set the fans/mining % they feel is appropriate, and an average of participating seats is used for the distribution.  This would give fans the ability to influence the distribution on a weekly basis and would allow for more flexibility in the final % than the current voting system.

I support your new views. I will consider policy and implementation changes to realize your idea for more flexible donation percentage changes. I will create a poll for this.

[OgNasty]

What will the chat room be on? ie. will it need any software installing or account creation? I've a dentist appointment near then so will probably miss it but would like to be ready in case I can get back on time. Big thumbs up btw

I plan on using https://chatver.com/#Nasty which was created by bitcointalk user mart.  That seemed like the easiest method to host a temporary chat room.  I'll post the actual room link in ~2 hours.

[silverfuture]

sweet!

[Equilux]

What will the chat room be on? ie. will it need any software installing or account creation? I've a dentist appointment near then so will probably miss it but would like to be ready in case I can get back on time. Big thumbs up btw

I plan on using https://chatver.com which was created by bitcointalk user mart.  That seemed like the easiest method to host a temporary chat room.  I'll post the actual room link in ~2 hours.

I won't be able to attend, but I would be interested if some of the more interesting questions would be posted somewhere

[ManeBjorn]

I am looking forward to it.  It is almost time is the link up?

What will the chat room be on? ie. will it need any software installing or account creation? I've a dentist appointment near then so will probably miss it but would like to be ready in case I can get back on time. Big thumbs up btw

I plan on using https://chatver.com which was created by bitcointalk user mart.  That seemed like the easiest method to host a temporary chat room.  I'll post the actual room link in ~2 hours.

[silverfuture]

I've got to head out to pick my daughter up from school and will be out for 1/2 hr or so. Hopefully it isn't done by then.

[OgNasty]

I won't be able to attend, but I would be interested if some of the more interesting questions would be posted somewhere

Thank you to those who did attend.  Lots of fun.

The chat log has been pasted here: http://pastebin.com/Y518dxjJ

[nonnakip]

If you sign in to nastyfans and go to history page you find a link to web chat also. The archived chat on nastyfans.org uses html/css formatting to improve readability.

[Equilux]

I won't be able to attend, but I would be interested if some of the more interesting questions would be posted somewhere

Thank you to those who did attend.  Lots of fun.

The chat log has been pasted here: http://pastebin.com/Y518dxjJ

If you sign in to nastyfans and go to history page you find a link to web chat also. The archived chat on nastyfans.org uses html/css formatting to improve readability.

Thanks!