Topic: 📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 10. (Read 957542 times)

I agree you should be able to access any BTC you consider yours. If you’re willing to peel the coin to do so, I don’t see any problem with it. It is up to nonnakip to put in the work to make this happen though, and I’m not sure how much time he has for things like that. I did offer to match donations made to him for development a while back to try and entice him to add more developments like this but nobody ever took me up on it. I can only do what I can do. If users wanted to vote to donate a portion of the savings it would likely be possible for many more coins to hit the threshold that way to trigger their distributions.

As for when coins will hit the threshold, every one is different. It depends on a number of factors. Many of the coins have received distributions and all of the distribution data and amounts held under the threshold are all public.



Yes, you had them listed way too high with the rising BTC rate and the market wouldn’t pay that price. You then lowered it down substantially (lower than probably needed) and they sold extremely quickly. That’s how free markets work.

Those seats were actually listed for sale for several months, they sold a few days after being listed at rock bottom prices, below their share of bitcoin that NF has in savings.

Yes, i'd like to be able to access the funds on the coin below the threshold!
With an “optional pending payout”, i know that i'm able to spend the “rewards" whenever i see fit. 



This is a positive suggestion to restore confidence in the investment as a whole and I'd like to hear if there are others who are with me on this one.


Good to know that i'm pessimistic; i'd like to hear your expectation when we'll reach the treshold

You’d want to peel your coin to access below the threshold funds? That seems to me like taking an axe to a Cadillac to try and get the gas inside the gas tank to sell. If there’s demand that wants this I could see looking into it, but it sounds more like a dust attack then a feature to me.

I would agree that there should be options available. Personally, I’d like to see peeled coins “claimed” and have the seat removed from the coin and any pending balances moved to the claimant’s account where they could be distributed that way, but I’m not a capable developer for something like this so I can only make requests same as you.

As for your claim that seats will never reach the payout in our lifetimes, you should refrain from saying things that are not only untrue, but also extremely pessimistic. I would recommend you learn “the secret” as I think it would change your life given your irrational pessimism.

I'd like to propose a vote to optionally payout the pending distributions.

As the distributions will never reach the treshold in our livetimes, the (minted) seats have become a worthless investment. By giving the option to manually make the payout, it suddenly becomes a savings account again. I'm confident that this will be reflected in market-price of seats and appreciation / activity of the club.

Please know that it's only about "giving the option". Due to the size of the club i don't think it will happen very often.
So it can be as easy as an email with a manual approval, bookkeeping entry and transaction on your side.

I don’t think using our funds to manipulate the market is a good thing for anyone and nonnakip has stated he does not want to have fans depositing funds to hold on the site.

The market looks like there’s demand for seats.. There were just a couple hundred seats traded after being listed only a few days. The problem is that sellers are asking more than buyers want to pay. The current lowest priced seat is nearly double the price of the last sale. I would recommend potential sellers list their seats for sale closer to the last sale price if they want them to sell.

I do really really like the idea!

One issue for seat holders is the lack of liquidity in the auctions. There is only a "sell side" but the buy side of the order book is missing.
Regular seat purchases would make the seat market more liquid.

Its like a stock buyback program: good for the remaining seat holders!

What to do with the seats that have been bought back is another question   

Edit: Somebody bought a bunch of seats. I think people were just asking too much before. Looks like at the prices you mention seats will sell pretty quickly.

If this is in BTC, it would be worth a lot more today.

I am curious to hear seat holders' thoughts on a substantial distribution of money we have in savings. I think it is probably fair to say that we are in a bubble right now, and prices for miners are not favorable. By my back-of-the-envelope calculations, we currently have about 0.000536BTC per seat in savings, and seats are not being purchased on the auction at that price, meaning the market is not supporting the value of NastyFans' liquid assets. 

We have terminated seats we could use for the giveaways (if people wanted) so purchasing more for this purpose wouldn't be necessary.



Minted Seats are seats linked to a coin.  When purchasing one a majority of the costs are for the silver content, minting, engraving, address generation, holograms, assembly, design, and shipping.  None of those costs are necessary for online seats, so they are obviously much cheaper and will receive the same share of distributions making them far more likely to have a greater return than their minted counterparts.

If the seats aren't selling at auction, I would say they are priced too high.  The problem here in my opinion is that those who believe in the organization think that seats will be worth far more one day, and those who don't believe think they are worthless.  This is a major gap between buyers and sellers that can only be bridged with time.  We are quickly approaching our 10 years of successful operation date, and at some point I would think all those screaming scam and Ponzi will eventually realize that they are wasting their time attacking an honest organization they should be supporting, while those who believe will continue being rewarded for doing so. 

A buyback doesn't make sense to me at this time.  We want to grow the organization, not shrink it.  A buyback would immediately reduce the member count, and funnel our savings to those who want to abandon the organization instead of help it thrive.  Not what I want to achieve in either case.  A far more likely scenario would be sending our savings to nastyfans to be distributed to all seats, which may occur at some point if our savings continues to grow as it is already beyond what I'd be willing to manage as far as a mining operation. 

Well i were away a lot time, went into nastyfans and i saw i kept getting my shares... whats the differenced between mint seats or just have the seats? Why the value are different? I were about to put my seats for sale... but it looks like no one is trading or buying them... soo i just hope some marketplace or even a buyback happens. I had read there is a big ammount in hands what will be done with that???

Thanks for thinking of minted seat owners; love the idea of minted winners getting proceeds split by minted seats only.

I might suggest using x dollars per month to repurchase seats and use them for giveaways.

I'm very excited at the possibility of being able to do such a big giveaway and curious how fans will vote.  Let me know if there's anything more I can do to help the process.

The work for this is OK. I have code for this. The main issue is to get SMTP for nastyfans.org active again. I do not want to start a poll without email notification to members. I will work on this now.

I like this idea and think it could be fun.  I've put some thought into it and I have a couple ideas I think could help make it fair.

We have done a similar giveaway in the past with online seats, so I think nonnakip could handle it in a transparent and fair way.

Online seats would be no problem to see who won, and maybe nonnakip could put up some sort of notification when users log in that they've won and ask them where they'd like their coin shipped.  The problem here would be users not claiming their free coins within a set period of time, and if this happened I think we could auction the coin on bitcointalk and donate the proceeds to NastyFans.

Minted seats would provide another challenge as like you said, it would be impossible to prove ownership of the coin without peeling it, and we don't want to require that.  The best way I know how to combat this problem would be for all minted seats to join together for this contest and any minted seat that wins a free coin will have the coin auctioned off on bitcointalk and proceeds from the coin would be split by minted seats only (I think the 1000 seat platinum coins should be excluded from this and counted as online seats in an effort to cut down on the number of coins we would need to auction since all of their owners are known to me).

If people think this is a good solution and nonnakip is willing to do the work involved for him, then I would like to (as I have just hit 10,000 posts) formally offer for NastyMining to purchase $10,000 worth of Minted Seats for the giveaway.  I think a poll should be put up for fans to vote if this is a good use of our savings and if approved we could announce the giveaway!

I send now a PM with questions and contact information. I hope for answer.

This person PMed me several times for help, but ignored/deflected all requests for any kind of proof of his statements.  :/

That is a very nice idea. Ognasty (or Nonakip) can start a raffle here so seat owners can join the raffle. Only need to figure out a way how to run the raffle. You say, more seats, more chances but who to determine the "weight" ? And how does a seat owner prove he ownes the seat(s)?

Given that there's a decent amount in our fund for now, with no plans at the moment for spending it, I'd like to proose we set aside ~ $15k USD for the purchase of minted seats and we would raffle them off to seat holders (more seats = more chances). I would see this as something that doesn't hurt our fund, and it is a way of giving back to seat holders and may also draw some attention to the group. My thinking here too is that with the recent upturn in value of Bitcoin and hitting our 8th year, it's something that I think most seat holders would appreciate as a nice memento.