📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 115.

Yogafan00000

sr. member

Activity: 314

Merit: 251

Quote from: OgNasty on January 21, 2014, 02:26:09 AM

Quote from: Yogafan00000 on January 20, 2014, 07:09:31 PM

My decision to host would depend on the terms of the deal.

What would you consider to be fair terms?

I spent some time this morning looking at the numbers for profitability on a BFL single over the next 12 months. It's not looking good. When I account for electricity, shipping cost, plus some maintenance hassle factor, fan hosting will become uneconomical to the NastyFans fan club in about 3 months. I've come to the conclusion that the only way this device can remain profitable beyond around April 2014 would be if the difficulty levels off. With terahash units shipping on the horizon, I do not see this happening. Perhaps mining an alt would prove useful (ppcoin?).

Personally, I think the best bet for the fan club would be to unload these units for 1.5BTC a piece, if you can find a buyer. Maybe you can find an ebay ~~sucker~~ apprentice who wants to cut their teeth in the crypto-currency mining space.

With that being said, if the fan club decides to take the risk of fan-hosting on some singles, I can offer to host a Single for 0.2BTC upfront for 6 months to cover electricity & maintenance. No guarantee of uptime. You cover shipping to Canada. You supply the pool details. After 6 months, we can reevaluate what to do with the units.

This is the best I can do; maybe someone else has a better deal for the fan club. I can easily see these units becoming entirely unprofitable by June.

silverfuture

legendary

Activity: 947

Merit: 1008

central banking = outdated protocol

It's great to see nastyfans make decisions for the long term health of nastymining over immediate short term gains.

nonnakip

hero member

Activity: 633

Merit: 591

1 poll closed

[policy change] temporarily increase donations for fundraising to 75%
no: 818 (23.7%)
yes: 2630 (76.3%)
abstain: 21552
RESULT: FUNDRAISING DONATIONS WILL INCREASE TO 75% UNTIL ALL OUTSTANDING NASTY MINING DEBT PAID

Since fundraising decision now closed I will include 8.48243709 BTC donations from mint sales in next distribution.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: Yogafan00000 on January 20, 2014, 07:09:31 PM

My decision to host would depend on the terms of the deal.

What would you consider to be fair terms?

Yogafan00000

sr. member

Activity: 314

Merit: 251

Quote from: OgNasty on January 20, 2014, 02:45:26 AM

Quote from: CumpsD on January 20, 2014, 02:35:23 AM

Quote from: OgNasty on January 20, 2014, 02:32:47 AM

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

You got me interested

Is there a list of currently owned gear? The mine to own or splitting % looks like a nice option.

The miners are 60GH/s BFL Singles and I would send no more than 1 per fan. Certain requirements would also have to be met if we were to go that route.

I might be interested in hosting. I have a personal mini-mine environment set up with 2 BFL products (an LS and a Single) so I have some experience & spare PSU's for these finicky devices.

My decision to host would depend on the terms of the deal.

Carnth

hero member

Activity: 634

Merit: 500

Quote from: OgNasty on January 20, 2014, 02:32:47 AM

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

Although passing to fans is a interesting idea, I would ultimately vote to sell them. Either directly sell, auction them, or have a lottery.

Squirrel Dearing

sr. member

Activity: 766

Merit: 250

Quote from: OgNasty on January 20, 2014, 02:45:26 AM

Quote from: CumpsD on January 20, 2014, 02:35:23 AM

Quote from: OgNasty on January 20, 2014, 02:32:47 AM

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

You got me interested

Is there a list of currently owned gear? The mine to own or splitting % looks like a nice option.

The miners are 60GH/s BFL Singles and I would send no more than 1 per fan. Certain requirements would also have to be met if we were to go that route.

I am interested in hearing what kind of deal you might come up with.

Unfortunately, I don't have any other ideas to help with the brainstorming..

CumpsD

sr. member

Activity: 476

Merit: 250

The only bad thing in selling it, is you wouldn't want to pass the hot potato to fans, prefer a random stranger then

Selling to fans should still get them something

smooth

legendary

Activity: 2968

Merit: 1198

My vote would be sell, get as much value out of them as possible. It is only a matter of time before they are worth nothing, but more than that the amount of output will be negligible for this group (once the new miners arrive), so better to just keep it simple.

I faced a similar decision when I recently sold off my blades. They were (and are) still profitable, with a good margin over power costs, but their output was so small compared to my other gear that it didn't seem worth the trouble to continue managing them.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: CumpsD on January 20, 2014, 02:35:23 AM

Quote from: OgNasty on January 20, 2014, 02:32:47 AM

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

You got me interested

Is there a list of currently owned gear? The mine to own or splitting % looks like a nice option.

The miners are 60GH/s BFL Singles and I would send no more than 1 per fan. Certain requirements would also have to be met if we were to go that route.

CumpsD

sr. member

Activity: 476

Merit: 250

Quote from: OgNasty on January 20, 2014, 02:32:47 AM

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

You got me interested

Is there a list of currently owned gear? The mine to own or splitting % looks like a nice option.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

With our next-gen miners a month or so away, I'm beginning to think about what to do with our current miners. I'm open to ideas. Some things I've considered are having fans host them either for a certain period of time on a mine to own basis or splitting a % of the mined coins. We could also just sell them outright or have a lottery fundraiser of some kind. Any thoughts on the subject are welcome.

nonnakip

hero member

Activity: 633

Merit: 591

Distribution 281044 is complete. Thanks for the donations!

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: lunarboy on January 16, 2014, 12:07:19 AM

Has anyone done a calculation as to coins lost in fees per distribution?

I use the

Quote

'donation payout threshold: BTC (max 0.01, set to 0 for no threshold)'

I for one wouldn't object to having optional higher settings here also the default could also be set to a reasonable minimum value to save on dust payouts.

You shouldn't really be paying more than 1% in fees at 0.01, and probably less than that. If you really want to avoid fees you can carefully construct transactions that will get processed for free.

I'm a little uncomfortable with the implied fees given the 0.001 threshold for minted seats but I understand the tradeoffs.

As far as the distributions themselves, the fees aren't that high, the lastest paid 0.0005. But many of the outputs are in the dust range. Probably a good idea to extend the 0.001 minimum to all seats.

https://blockchain.info/tx/24dd3a6ed370882b80d90475d4545118033295d74392512288c3be5a9c582956

lunarboy

hero member

Activity: 544

Merit: 500

Has anyone done a calculation as to coins lost in fees per distribution?

I use the

Quote

'donation payout threshold: BTC (max 0.01, set to 0 for no threshold)'

I for one wouldn't object to having optional higher settings here also the default could also be set to a reasonable minimum value to save on dust payouts.

Squirrel Dearing

sr. member

Activity: 766

Merit: 250

Quote from: nonnakip on January 15, 2014, 02:36:52 PM

Quote from: Squirrel Dearing on January 14, 2014, 05:46:54 PM

Not sure if the problem is on my end or what but can't get to the nastyfans site..

Our ISP performed some infrastructure updates and needed to reboot our server. When the server booted it started the web server from the machine root instead of the web server I have set up in a container for nastyfans web interface. This was the first time the machine ever rebooted.

I fixed the boot sequence so it should boot up correctly if the machine ever reboots again.

Cool - I wasn't worried or anything, just wasn't sure if you were aware of it or not..

nonnakip

hero member

Activity: 633

Merit: 591

Quote from: Squirrel Dearing on January 14, 2014, 05:46:54 PM

Not sure if the problem is on my end or what but can't get to the nastyfans site..

Our ISP performed some infrastructure updates and needed to reboot our server. When the server booted it started the web server from the machine root instead of the web server I have set up in a container for nastyfans web interface. This was the first time the machine ever rebooted.

I fixed the boot sequence so it should boot up correctly if the machine ever reboots again.

btcboston

member

Activity: 101

Merit: 10