Topic: [BTC-TC] Nasty-PT 100 shares = 1 Nasty Fans seat - Closed - page 2. (Read 12130 times)

This is one of the possible scenarios that I am evaluating.

After BTC-TC disaster I would like to transfer shares back to Nasty Fans seats. Is that possible?

First... Do Not Panic.

Your Nasty-PT shares on btct.co are backed by Nasty Fans Seats which are not on btct.co. 100 shares still equals 1 Nasty Fans seat. The pass-through has (and always had) enough Nasty Fans Seats to back every Nasty-PT share. So there is no reason to panic and/or dump your shares.

There are a couple of options available, and I am evaluating them.

Nasty-PT will continue to operate normally until a decision has been made (all dividends paid according to the contract, etc.)
Again, there is no reason to panic; but I will leave the asset open to trading for those of you who wish to sell, or buy.

Thank you for your patience during this trying time.

Any update about how the closure of BTCT will affect the PT's purchased there?

In the interest of transparency, I have created a Google Docs (Drive) spreadsheet for the pass-through.

It lists the number of shares the fund has, all income and dividends paid, as well as management fees and donations back to Nasty Fans.
I even put a spiffy looking chart to the right.


Please Let me know what you think.

For Sale:

Nasty Fans Pass-Through packs.

Each pack includes:

• 500 shares of NASTY-PT on btct.co
• 1 One gram Nasty Fans collectible .999 fine silver round.
• Free delivery of the silver round in the USA.

Price per pack: BTC1.5

For international postage, add BTC0.055

This offer is good only until sold out or until next Monday 02-Sep 18:30 (Central time USA--when dividends are paid).


Photo of front and back of silver round:



To purchase a pack, please PM: Carnth


Silver round will be sent via "standard/first-class" postal mail in a plain letter envelope.

Transferring existing Nasty Fans seats to the pass-through on btct.co is now available.
You will get 100 NASTY-PT shares on btct.co for every Nasty Fans seat.

Please see the second post for complete information.

FAQ:

Is it easy to do?
No. It's a bit involved but not too complicated. There is no automated way to do this so it can be a slow process.

Why would anyone want to do this?
Because they want one place for all their assets. They don't want to deal with another web site.
Shares are more liquid than seats.
Because now you can.

Are there any fees?
There are no fees to transfer your Nasty Fans seats to the btct.co pass-through. However, all pass-through shares have the same fees applied regarding dividends: 1% donated back to Nasty Fans, plus 4% for management fees.

Can I ask any other questions?
Sure, ask them right in this thread!

Thank you for your questions.



The point of this pass-through is to allow a larger audience to Nasty Fans.
Pass-throughs are created to allow easy access to investments that are not on the current exchange. The first Bitcoin pass-through was DeadTerra's SatishoDice passthrough.
NASTY-PT is also a "1 seat for 100 shares" pass-through which allows a shareholders to own a "partial seat" at a much lower initial invest.



As of right now, exchanges between seats/shares are not possible. But I am working on a possible solution.



95% of donations received will be paid to shareholders.
1% will be donated back to Nasty Fans. 
4% will go to management fees.

I have a question. In general I undestand the terms of this (English is not my mothertongue) but I don't really get the point.
I possess ~400 shares @btct.co
Which advantages would I have in changing them into Nasty Fan seats? How can I change them into Nasty fan seats and at last: Do the dividends differ between Nasty fan seats and normal shares?

btct.co news announcement:


NASTY-PT is proud to announce a successful launch.
The pass-through has 65 seats/6500 shares available. I personally didn't think the pass-through would break the 20 seat/2000 share mark in a week, let alone the first day.

Thanks to everyone for participating.

Many shares are still available at great prices. Dividends will be paid in the middle of next week.

For more information on NASTY-PT please see the forum.

Most of the info you need can be found on the Nasty Mining forum OP.

Anyone feel like posting a TLDR on the underlying asset or point to such info?

Shares are up for sale!

Dividends will most likely be paid on the Wednesday after donations are received (to coincide with MiningCo.ETF's dividends).

Hello DexX7



It started just now.



I've already been slowly purchasing seats to back the shares.
As of this exact moment, the pass-through has 11 seats = 1.1K shares.
I plan on acquiring more before the pass-through is approved.

You can always see exactly how many seats the pass-through has by checking the Nasty Fans list of seat holders:
https://nastyfans.org/list.csv
( Search for the user: NASTYPT )



The pass-through has no fixed amount of shares. Additional seats (and additional shares) will be acquired and released based on market demand.
According to Nasty Fans policy, there is a 25K seat limit.



You welcome.

If anyone has any other questions, please ask! I'm happy to answer.

Hi Carnth,

sounds good! When do you start your approval process? Can you say something about the initial amount of available shares and if that amount is fixed or might further be expanded? Thanks.

Nasty mining has been around for a long time, nothing but good things to say about the people running it.

Very nice. You can count on my vote to approve when it's unlocked. I've no doubt you'll be just as trustworthy and diligent with this offering as you have with all your others. Good luck with this!

Nasty Fans seats can be traded for pass-through shares. There are several steps involved.

First:
Contact nonnakip and ask for your seat(s) to be transferred to the btct.co pass-through Nasty Fans account: NASTYPT. Something like this is acceptable:

I, would like to transfer of Nasty Fans seats to NASTYPT

You must sign your message with the PGP ID or Bitcoin address you have on file with Nasty Fans. If you do not include a signature, nonnakip will not process your request. For info on how to sign a message with a Bitcoin address, see below.

Second:
After nonnakip confirms that the seats have been transferred, send a PM to me with the following info:
The number of seats transferred.
Your username on Nasty Fans and the Bitcoin address, or PGP ID used to sign your message.
Your username on btct.co (with correct capitalization).


After everything is complete, 100 shares for every seat will be transferred to your btct.co account.


Fees - None
There are no fees to transfer Nasty Fans seat to pass-through shares. However, all pass-through shares have the same fees applied regarding dividends: 1% donated back to Nasty Fans, plus 4% for management fees.
Please consider a small tip for nonnakip for his time.


How to sign a message with a Bitcoin address
If using bitcoin-qt:
Click file, then sign message:



In line 1 - Enter the bitcoin address you used in Nasty Fans.

In the box - Copy your "I, would like to transfer of Nasty Fans seats to NASTYPT" message.

Then click the button labeled sign message and it will say "message signed" as well as giving you a signature:



Now, PM all three of these fields to nonnakip:
1:Bitcoin address that you used in line 1.
2:Message entered in the box (your message).
3:Signature that bitcoin-qt populated.

Closed
See this post for complete details.


100 shares equals 1 Nasty Fans seat.

https://btct.co/security/NASTY-PT

The Pass-Through:
This pass-through will allow investors an easy alternative to purchasing seats outright.
100 shares is equal to 1 Nasty Fans seat.

Before purchasing, please make sure to read About Nasty Fans and the Nasty Fans Policy. Also check the Nasty Fans forum OP for up to date mining info.
Shares have no voting rights. Management will vote in the best interest of the pass-through.
Shares can not be traded or exchanged for Nasty Fans seats. Nasty Fan seats can be traded for shares.
95% of donations received will be paid out to shareholders. Though Nasty Fans usually receives donations on Fridays, dividends for this pass-through may be held and paid up to 6 days later.

Transparency/Proof of Nasty Fans seat ownership:
First the pass-through will purchase seats through Nasty Fans. Only after seats are owned would shares be put up for sale. 100 shares will be issued for each Nasty Fans seat owned by the pass-through.
Seat ownership can be verified by looking at the current list of seat owners and checking for NASTYPT.

Fees:
1% will be donated back to Nasty Fans.  
4% will go to management fees.

Due to market conditions, Bitcoin network fees, and exchange fees; the price per share may not always equal 1/100th of the price of a seat.

Pass-through Closure
Management reserves the right to close this pass-through for any reason, giving 30 days notice. All seats will be sold on Nasty Fans and proceeds paid to shareholders.