NastyMining - Free Electricity, No Fees, NastyFans.org

[OgNasty]

NASTYFANS INTRODUCTION:
NastyFans is a club for Bitcoin Enthusiasts established in 2012 to show how a fun & transparent community project can be built with Bitcoin.  Using the auction at nastyfans.org to trade for a seat entitles you to a vote in club polls and a portion of NastyFans Bitcoin donation distributions.


www.NastyFans.org

Members: Seat Owner List | Historic Member Count
Trades: Historic Trade List
Developer Feeds: Nasty.JSON | Mint.JSON
Donation Distributions: Historic Distribution List

DONATION ADDRESS:
1NastyFRkeUTmMdbMmzggDVTQA6r3ibUoX

NASTYSHOP: YOUR ONE STOP SHOP FOR NASTY RELATED PRODUCTS


FAN CREATIONS
Minted Seat Analyzer by naypalm
NastyFans Open Source Software Suite by nonnakip
Historic Bitcoin Exchange Rates by nonnakip

FREQUENTLY ASKED QUESTIONS:

HOW CAN I JOIN NASTYFANS?
Bitcointalk user nonnakip has started a website for NastyFans where members can trade seats using an auction.

CAN I HELP SPREAD THE WORD?
Sure.  Check out the signature campaign thread.

WHERE DO DONATIONS COME FROM?
Members are encouraged to develop new innovative use cases for Bitcoin and support each other's efforts as well as give back to NastyFans in the form of donations.  The NastyMining Green Energy Project is one such development that donates all of it's hashrate to mining on behalf of the NastyFans Donation Address.  The NastyShop is another example where a portion of trades for goods is donated to NastyFans.  You can view the history of all donation distributions here: Historic Distribution List.

[OgNasty]

NEWS STREAM:
06/10/12: NastyMining Announced!
06/23/12: NastyMining's First ASIC Order Placed.
07/19/12: NastyMining's First FPGA Begins Hashing.
07/27/12: NastyMining Distributes First BTC Donation.
10/05/12: GLBSE Closes.
12/08/12: NastyFans Announced!
12/08/12: NastyMining Reaches 1MH/s per NastyFans Seat!
12/17/12: NastyFans Distributes First BTC Donation.
01/14/13: NastyFans Opens to the Public.
03/01/13: NastyFans Distributes 100th BTC.
04/03/13: NastyFans Market Cap Reaches $1,000,000.00.
04/25/13: NastyMining Installed Dedicated Electrical Circuits & A/C Exhaust.
04/29/13: NastyMining's First ASIC Begins Hashing.
06/10/13: NastyMining Begins Merged Mining Alt Coins.
06/29/13: NastyMining reaches 10MH/s per NastyFans Seat!
07/17/13: NastyMining Raises BTC200 to Fund Mini-Rig Order in Less than 24 hours.
08/14/13: NastyFans 2013 1g Silver Coin Fundraiser is Announced.
08/17/13: NastyMining Raises BTC185 in Funding for Next Generation ASIC Monarch Upgrades.
10/02/13: NastyPool Announced!
11/29/13: NastyFans 1oz Silver Minted Seats Announced!
01/22/14: NastyFans iOS Mobile App Available in the App Store!
03/06/14: NastyMining Reaches 100MH/s per NastyFans Seat!
03/17/14: 'NastyFans Coin A Different Way To Mine' Article Posted on CryptoCoinsNews.com.
04/30/14: NastyMining Fan Operator Plan Announced.
06/10/14: NastyMining Marks 2nd Birthday with NastyPool Mining Contest.
07/04/14: 'NastyMining The Nicer Way To Mine' Article Posted on Bitscan.com.
07/04/14: Minted Seat Analyzer by naypalm Announced!
07/28/14: NastyPool Proxy Implemented to Reduce Distractions and Provide IPv6 Access to P2Pool.
07/28/14: NastyPool Custom Miner Stats Page Goes Live.
08/06/14: NastyPool 2014 1g Silver Coin Fundraiser is Announced.
10/16/14: NastyMining Reaches Debt Settlement Agreement.
10/17/14: NastyFans 5oz Silver Minted Seats Announced!
11/21/14: NastyPool Distributes First NastyPoP Payouts.
12/10/14: NastyFans "Stay Nasty" T-shirt Announced.
12/19/14: 'The Nasty Business Of Mining' Article Posted on Bitscan.com.
03/19/15: NastyPool Announces an Eastern US Node.
05/04/15: NastyDeveloper Center Announced!
06/16/15: NastyMining is Debt Free!
10/03/15: NastyFans 2oz Silver Minted Seats Announced!
10/08/15: NastyPool Monitor by ZACHM Announced!
10/28/15: 'Another Year Still Just As Nasty' Article Posted on Bitscan.com.
11/01/15: NastyFans Desktop App Available at GitHub.com!
11/07/15: NastyFans Mentioned on Bitcoin.com
12/27/15: NastyFans 2oz Gold Minted Seats announced!
02/27/16: NastyFans Gold Highlighted Minted Seats available!
04/07/16: NastyFans Minted Seats Featured in the Encyclopedia of Physical Bitcoins.
05/06/16: NastyFans-Suite Launched on GitHub.
06/12/16: NastyFans 10oz Silver Minted Seats announced!
06/22/16: NastyFans Pebble Watch App by naypalm Announced!
07/04/16: NastyFans 4oz Gold Minted Seats announced!
11/19/16: NastyFans Minted Seats Featured in MINING POOLS book.
11/24/16: NastyShop Online Store Announced!
12/10/16: NastyMining reaches 1GH/s per NastyFans Seat!
12/24/16: NastyFans Slack Group Announced!
01/03/17: First 3rd Party Marketplace (Dignitas) Using NastyShop Software Announced!
02/08/17: NastyMining Reaches Agreement with SunPower to Go Solar; Launches Green Energy Project!
02/20/17: YoBit.net Sponsors Wind Turbine for NastyMining.
03/01/17: Consolidated Crypto publishes story about NastyMining's Green Energy Project.
03/15/17: NastyPool Announces 2nd Eastern US Node.
03/27/17: Bitcoin.com publishes story mentioning NastyMining's Green Energy Project.
04/07/17: NastyMining Green Energy Project wins 0.7 BTC in Most Appreciated Post contest on the Bitcoin.com forum!
04/22/17: NastyMining activates solar array!
06/09/17: NastyMining activates wind turbine!
07/01/17: NastyFans reaches 500 members!
07/12/17: Gunbot Sponsors Tesla Powerwall for NastyMining.
08/07/17: Sustainable Bitcoin Mining article featuring NastyMining published on Cryptoinsider.com.
08/16/17: NastyFans 10oz Gold Minted Seats announced!
10/17/17: Gunbot Sponsors a SportsArt ECO-POWR™ G510 Indoor Cycle for NastyMining.
10/18/17: NastyMining 1oz Silver Wallets announced!
02/17/18: NastyMining mentioned in 'The Future of Bitcoin? Green Energy + Lightning Network' Article.
03/06/18: NastyMining installs Tesla Powerwall!
08/14/18: NastyFans 4oz Platinum Minted Seats announced!
11/15/18: NastyMining’s Tesla Powerwall firmware updated to include energy arbitrage feature.
07/01/19: 'The Nasty Business Of Mining' Interview w/ OgNasty Posted on CryptoInferno.org.
07/11/19: SunPower upgrades NastyMining's solar panel inverters.
12/16/20: NastyMining recovers 100% of BTC lost from Nicehash in the 2017 hack.
06/04/21: NastyMining gives away 100 silver Minted Seat rounds.



PRESS COVERAGE:
https://www.fastcompany.com/40503695/what-can-we-do-about-bitcoins-enormous-energy-consumption
https://thenextweb.com/cryptocurrency/2017/10/12/crypto-mining-renewable-energy-solution-blockchains-carbon-footprint/
http://object2212.com/?p=1505
https://news.bitcoin.com/renewable-solar-power-mining-operations/
https://www.ccn.com/bitcoin-mining-pool-ghash-io-is-unapologetic-risk-theoretical-51-attack/


PHYSICAL SEAT ENGRAVING VIDEO:

[senbonzakura]

good will look more into it and decide

[bulanula]

sub

this is amazing btw good job !

[Sturmvogel]

What hardware are you using?

[OgNasty]

What hardware are you using?

The hardware purchased for this organization is made up of ASICs from the following manufacturers:
Spondoolies
Bitmain
Butterfly Labs
CoinTerra
Black Arrow
Alpha Technology

[filharvey]

When do you expect to have the BFL's to start paying a dividend?

[OgNasty]

When do you expect to have the BFL's to start paying a dividend?

The first Bitcoin distribution will be made on July 21st, 2012.

[Timbo925]

Subbing. Got 2 questions?

Any IPO price idea and as we own the hardware will it payout more compared to 100% PPS.

[OgNasty]

Any IPO price idea?

The IPO has been tentatively priced at 0.29BTC/share.

As we own the hardware will it payout more compared to 100% PPS?

Nasty Mining is focused on growing multiple avenues of obtaining Bitcoin and is not a mining bond tied to a specific hashrate.  For that reason, I suspect it will payout significantly higher than the PPS of a specified share of the current hashrate.

[Bees Brothers]

I thought you ran a very tight ship with MergedMining and were very quick to reply to any questions.

I will be buying some shares as I trust you will do just as well, if not better, with NastyMining.

 

[OgNasty]

Due to a rise in BTC vs USD price since the IPO was priced, I have decreased the offering to 0.27BTC/share.  

Initial IPO investors have received a special Bitcoin distribution in the amount of 0.02BTC/share to compensate for the newly lowered offering.

After the 1st day of trading, 212 seats have been sold.

[Timbo925]

Due to a rise in BTC vs USD price since the planned IPO, I have decreased the offering to 0.27BTC/share. 

Initial IPO investors have received a special dividend in the amount of 0.02BTC/share to compensate for the newly lowered offering.

After the 1st day of trading, 212 shares have been sold.

Thanks

Maybe a interesting question.
We buy basically shares to own small parts of the BFL singles. BFL stated that their will be a trad-in program to go from the singles to the ASIC offering they have.
Does this mean it will be possible for the mining fund to go from the singles to the ASIC's. If for 10BFL's @3200 Mhz/s you get 1 ASIC boards @ 7200 Mhz/s the output of this bond will also dubble (effectively making it a 2 Mhz/s bond).
This would make this bond one of the most future proof mining assets to own imo. 

[OgNasty]

Thanks

Maybe a interesting question.
We buy basically shares to own small parts of the BFL singles. BFL stated that their will be a trad-in program to go from the singles to the ASIC offering they have.
Does this mean it will be possible for the mining fund to go from the singles to the ASIC's. If for 10BFL's @3200 Mhz/s you get 1 ASIC boards @ 7200 Mhz/s the output of this bond will also dubble (effectively making it a 2 Mhz/s bond).
This would make this bond one of the most future proof mining assets to own imo.  

I would not trade the organization's owned equipment for ASICs and pocket the added power.  That is one of the many advantages to being an organization and not a mining bond, and the reason why I feel that seats are currently being undervalued.  We will grow and over time you will see a seat bought today being worth FAR MORE than 2MH/s in hashing power.

[Bees Brothers]

Initial IPO investors have received a special dividend in the amount of 0.02BTC/share to compensate for the newly lowered offering.

Thanks, bought more shares

[Carnth]

 In this scenario, shareholders would have 2 options.  A) The MH/s per share could be increased, or B) 1/2 of the Singles could be traded for ASICs and the other 1/2 could be sold off to provide funds for a special dividend, thereby keeping shares at 1MH/s.

If the hash rate is increased by double, then I say just do a 2 for 1 stock split. Double the number of shares outstanding.
Everyone who owns 10 shares now has 20 shares, etc.
This seems the easiest way to issue additional hash rate while keeping each share at 1MH/s.

[OgNasty]

If the hash rate is increased by double, then I say just do a 2 for 1 stock split.

I think it is important that only the 25,000 seats exist and they are not diluted over time as with most other offerings.

EDIT:  Unless we do something stupid like take on debt and it requires a 1-time dilution of 5,000 seats for us to learn our lesson.

[Carnth]

If the hash rate is increased by double, then I say just do a 2 for 1 stock split.

I don't think the GLBSE supports that functionality yet.

This sounds like a job for...
Nefario

[Gladamas]

Interesting, a mining bond with exposure to GPUMax. *Ahem* not to tip off anybody, but the price is at .27 right now for a bond potentially worth ~1.25 Mh/s.

Please consider adding value to shares of your company by increasing the mHash/share over time.

Check out https://glbse.com/asset/view/MOORE. I agree though that you should expand your company in the future and offer more shares or use one of the other solutions presented in this thread.

An issue which takes care of it's investor's money will be very popular.

Could you elaborate on this?

On another note, OgNasty, if you could set up an automatic system to pay dividends daily or every three days or something, that would be great, otherwise weekly is fine.

[Gladamas]

An issue which takes care of it's investor's money will be very popular.

Could you elaborate on this?

Let's say you see a mining share that represents 1 mhash/share and is valued at 0.25. Maybe you buy it, maybe you don't. Let's say the company has 1000 shares.

...

When people expand they're supposed to, at some point, be able to do it out of their company's profits. Ultimately a company which must return to the market time and time again and never provides any accretive value for shareholders, is a very poorly run company. The idea of "mining bonds" has to be revisited here. These are not bonds, they're shares with a fixed dividend. A bond is a paper security which represents a loan. Once people begin to wake up and smell the toast burning, I personally feel the current concept of "mining bonds" will disappear in a puff of smoke. You can already see it with the influx of new non-deterministic mining companies which promise to accrete value. That's my take on it. Just my opinion.

Nice insight! tl;dr version: For asset issuers, preserving shareholders' trust is more important than shortsightedly attaining benefits from the arbitrary sale of shares.