Topic: 📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 208. (Read 958946 times)

It should be less than 4 months if BFL can hit their shipping estimate (a big IF).  We still have FPGA Singles on the way, which will arrive before then and will provide some dividends while we wait.  Not to mention I think I may have been the first person to order the SC Singles, so our dividends could get pretty exciting in October...

This would have been a bit more exciting if it wasn't for those 5 (6?) months we have to wait for it now ;) but still, great news :)
I only wish I had more cash right now so I could order a coffee warmer for myself :)

UPDATE:
I have just placed the order for our BitForce SCs from Butterfly Labs.  We should be near the VERY top of the list.  

EDIT: First to order SCs confirmed by Butterfly Labs.

I really don't think it is necessary.  Insurance will only protect against theft or something like flooding or a house fire.  I have several large dogs, guns & a house alarm to deter theft.  I also do not live in an area where flooding is a problem and hope that my house doesn't catch fire.  The major concern would be the product breaking, at which point we'd be dependent on BFL's warranty program.  So personally, I think insurance would be a waste of money.  That being said, we can definitely vote on it if enough shareholders are interested.

These sound like fantastic ideas, another idea that popped into my head, should we insure the hardware? we could do this via dividends in the future.

It looks like we can expect our ASICs in October.

http://www.butterflylabs.com/bitforce-sc-release-notes/

glad to be part of this 

We have several units on order with Butterfly Labs currently. A couple of the units were ordered 5+ weeks ago. I'd imagine we'll have them whenever BFL completes their next production run. If I can get one sooner from a 3rd party for a reasonable price, I will do so. No matter what happens, I'm planning to start paying dividends in some form starting in July.

So what exactly is the situation.  Is this additional hardware or is nothing currently mining?  What is the ETA to be mining / anticipated dividends payout?

Shared up & subbed.    * Can't wait for some nasty little dividends. *

UPDATE:
More than 5GH/s has now been ordered for this operation.

I like those ideas, and I agree that they would be best for the long term growth of the company.  Once we start seeing some profits I am definitely willing to put up a few motions to see if shareholders are interested in taking a portion of the profits and using them to invest or save.  When it comes to what to do with the profits, it is up to the shareholders.  Most will want dividends, but I could see a motion to use a % of profits for a transparent investment portfolio passing.

hey nasty!

i bought some shares cause this sounds alot safer than what is common on the glbse. there are 2 other assets, that also intent to hedge/reinvest big parts of theire earnings: BTCSYN and BTC-Mining.

it seems they are a lot more stable when it comes to bitcoin prices (no wonder, since they are sitting on big sums of bitcoin all the time) and especially in the case of rising bitcoin prices, their profitability and marketcapitalisation both grows. so rather than mining-bonds, which loose in worth if btc price rises, this way is a win-win strategy, supposed bitcoin will rise in price.

i would suggest, that at there should be a reserve in bitcoin totaling at least 10% of the ognastys market capitalisation to hedge ognasty against volatility and another 10% in dollar/euro.

i don't mind if you pay out dividends at all, i would even prefer to not beeing payed dividends if the aquisation of capital could be neede in the near future, cause own earnings are much cheaper than taking a loan, offcourse.

So i would prefer the paper-only earnings rather than dividends. but this is anyway something that needs to be discussed by the shareholders!
(dividends vs. capitalparking is always the main issue at stockholder meetings)

also, in case of further capital need (cause of a good opportunity maybe, im thinking of ASICS e.g.) make sure to have contact to ppl with big pockets or investmentfunds. here e.g. GBF comes to my mind. the profit they get from investing big sums comes from the faster ROI they get if ogNasty has the capital needed.

just my thoughts on business economics

This is an interesting venture and I like buying shares knowing it owns part of the underlying asset rather than just a normal mining bond, which I think are a cop-out.

The 20MH/s would go into effect upon the delivery date of an ASIC miner.



Obviously I'm not going to pay dividends out of my pocket forever and I have no plan to start doing so at this time.  If delays become longer than anticipated, that is one option I have to compensate shareholders for their trust and investment.  I don't think anyone I've dealt with in the past is concerned that I'm not going to compensate shareholders.  At this time, any announcement as far as extraordinary compensation would be premature.



No.  I have no intention of ever issuing a bond.  I think issuing a bond in the face of the coming mining environment would be taking advantage of investors, which is why I specifically structured this investment as a share of a company.  It leaves the door open for a lot of growth for shareholders that would otherwise be unavailable.



Amen.



I'm not worried about what my competitors do.  The 20MH/s was an educated estimate using the figures published in Butterfly Labs' press release.  The actual number could be more or less depending on the final figures released by Butterfly Labs.  However, I think 20MH/s is a realistic expectation at this point.

sahub

So from that, as a possible investor (I've thought about buying in as I just want the weekly returns on 1mh/s. If I buy in and have a share, and you upgrade equipment, am i on 1mh/s or 20mh/s on the upgrade date or delivery date? I'm assuming 1mh/s.

But for x months you are willing to pay out of your pocket? For any normal person this can only happen for a few months,what happens if bfl never deliver,or deliver below the 20mh/s?

Would it not be best to start a new bond for the hardware?

Is this a major concern?  I think my reputation would speak a little for me here as I am not out to scam anyone, but instead provide a useful investment option to protect investors against the coming losses of 1MH/s bonds currently trading on the exchange.  I will trade any organization owned equipment for BFL's ASIC miners once they are available.  Once the exact figures are released and confirmed, I will be able to make a definitive statement.

As u say the trade in program has not been announced. What if it is a case of send back your singles, and you are now in the queue, along with anyone one else who has purchased. This means that you are back in the position of Wang x months for the new hardware without any old / current hardware mining.

I agree with what you said. But up to 20MH/s, can be as well only 1.1 Mh/s, see the cellphone contracts. You can reformulate as "20MH/s provided BFL doesn't change the initial unit parameters and upgrade conditions."
For sure it will provide piece of mind to investors.