Are the seat holders actually paid yet? Can they convert the BTC they have earned right now?
Yup. They are paid weekly despite claims made by individuals on this thread. You can view the weekly payouts here:
https://nastyfans.org/distribution.summary.csvMy offer of a buyback was with all of our savings so they could claim any BTC they feel is theirs. Before all the burying of actual relevant information, nonnakip even stated that he's working on a way for them to claim any BTC due to their seats under the threshold amount. That's the frustrating thing I guess. People attack me and then I have to argue with them for pages until I get to the bottom of what they're actually mad about (usually regret over spending their BTC at such low rates) in order to be able to attempt to put things in place like the buyback or allowing under threshold amounts to be claimed. If people were able to have adult conversations with facts about how to improve this organization instead of just trying to blame me for them spending their BTC I think we'd see a lot more progress. I try to steer the conversation towards progress, but people just want to pretend that they lost money somehow. I'm tired of the argument so I think people should just claim losses on their taxes and see what happens if that's what they want to do. I'd prefer their misconceptions leading to their own legal problems as opposed to derailing this thread every time they have a bout of depression.
Also - I believe when most of them bought seats - BTC was not taxable. I know it was not taxable when I was mining in 2010 or 2011. 2018 was the first year I had to pay taxes on any crypto earnings.
I am not attempting to spread any misinformation. I just don't see this as being an advantageous investment for any one involved. It would have been a better investment to simply hodl their BTC and to never have bought a seat.
If you are claiming there was a period in history that earnings weren't taxable on BTC, I would say you are spreading misinformation. You should probably also delete the line about not paying any crypto taxes until 2018. I had paid a six figure sum of taxes prior to that. Seems like you're unnecessarily admitting to tax evasion. Also, if you can't see how seats going from $1.54 to over $30 while paying weekly distributions for nearly a decade isn't beneficial, you should probably stay away from investing. It's easy to say Bitcoin performed better than NastyMining because it has. It's performed better than all assets during this period. Had the price of BTC fallen, the NastyFans seat price would have gone up in BTC and people would be claiming that they lost money because the USD value went down. Those people would actually be correct even though they made BTC. Personally, I think people would prefer to have made USD then lost it, but you're free to push whatever imaginary agenda you want. However, in this case it isn't even a debate. You are wrong. It's really that simple.