Bitcoin Forum

11/26 update: (Estimate) 0/100 Shares Available
Total of 2 Neptunes, Paid orders 11156 and 11157
http://www.dzminercoop.com/?product=r19-2-knc-neptune

SOLD OUT


======================================================================================================


To reserve shares automatically and for easiest spreadsheet export,
please visit the new DZ Miner's Coop website.

www.dzminercoop.com

======================================================================================================

We've purchased 2 KnC Neptunes that are estimated to be shipping sometime Q1/Q2 of 2014.

R19 / R19B: 1 GB share = $225 = KnC Neptune 60 GH/s +  world's lowest hosting/management fees + Appropriate PSUs + DZ MC co-op bonuses (extra A/C, Gas Generator, Server UPS battery banks, dual network connections, 5 veteran remote/local admins, arbitrage expertise to resell used miners, etc., etc..)

- 50 shares are available in R19 (3Thash)

- 50 shares are available in R19B (3Thash)

- More can be ordered.

Total combined hashrate for R19 is approximately 6 TH/s or more.


R19x Product Link:

====

DZ Miners Cooperative Roles for this R19x GB:

DZ - Co-op Founder / overall coordinator of the Co-Operative, background role for R19/19b. Founder/CEO of a newly formed Cryptocurrency focused Intl. Corp. Overseeing payouts and Primary admin for Co-op miners, IT Network Engineer, DoD IT Contractor.

thomas_s - Primary GBC for Round 19/19b, COO of our new company, Set up Online Auto Reservations for the co-op! Thank you! Send BTC payments and questions for R15/15B to thomas_s. Business Degree, works in Finance.

bobsag3: Vetted Co-op member. World's lowest hosting fees for vetted miner hosting at a professional colocation hosting facility in Missouri!  Official Black Arrow US Reseller and US Distributor for Drillbit Systems. New Pres. of our Mining Operations arm of our LLC. Providing R19 and R19B miners to the GB Forum!

-Redacted-: Veteran remote admin. DZ MC Co-op Leader.  DoD IT Consultant.

jungle_dave: Vetted Co-op member and Former Electrical Engineer / Network Engineer. Backup Admin for co-op miners, software support.


======================================================================================================

...And Introducing to the GB Forum: Auto Reservations!

Thank you to vetted GBC thomas_s who has worked hard to put up a site to automate reservations so that there's no confusion and no double orders! It'll also make auto-export to spreadsheets much, much simpler for GBs, going forward.

www.dzminercoop.com

==

Please contact thomas_s for questions and payments or to manually confirm your reservations, as I'm in more of a Miner Cooperative Support Role for this particular new model Group Buy (and potentially others). If you have questions about Round 19 unit hosting please contact bobsag3.


1 share is $225 per share, which gives you 1/50th of the miner's hashrate.

Since this is a 3thash unit, that works out to 60 GH/s per share for R19/19B. Unit will be hosted at bobsag3 at the world's lowest hosting/management fees, for a limited time. Incremental and monitored Overclocking will be implemented as we'll be keeping things nice and chilly.

Your share price includes acquisition of an estimated 20 minutes of UPS/Battery Backup + Gas Generator backup, included in the discounted share price to keep BTC flowing during: short outages (blackouts), voltage sags (brownouts), and voltage spikes, as well as to provide power filtering. The special purpose Gas Generators our co-op buying power allows us are meant for providing power during longer outages.


===

If you have questions as to how this whole darn at-cost, Democratic Miners Cooperative that's also a mesh network works, please send DZ a PM or state your concerns publicly as there's nothing to hide in this co-op.  Smiley

Only hurtful or trolling posts will be deleted as we welcome all valued opinions, insights, concerns, and improvement ideas to improve our at-cost (or even below cost) cooperative of about 37 120 members (so far).


=========================================================================================================================================


Image Credit:   Original Image  



                                       _.====.._
                                    ,:._             ~-_
                                        `\              ~- _
                                           |   _    __.       `.
                                         ,/   /  \    /           ~ - _
                   ..__..-..__...-      /__/  /__                `_ ~~--..__...----... DZ's Miner Cooperative, Round 19 ..."The little Co-op that could"...


An At-Cost Democratic Miner Co-operative with the world's lowest fees
for vetted miner hosting/management services:only $250 per month per miner!

~120 members: 1 Scientist, 7 admitted IT Pros, 3 Network Engineers, 3 Electrical Engineers, 2 Finance Employee, 6 GB Coordinators, multiple vetted host sites.*

*Note: A listing above does not necessarily indicate that this person runs or contributes to the running of the co-operative, but many of the pros listed have made their services available to the co-operative. Also, there could be more than 7 IT Pros, but some geeks are meek.  Cheesy


========================================================================================================================================

This Co-operative is led by a John K. vetted Network Engineer based in Hawaii, DyslexicZombei or DZ, who gets to design prototype IT hardware and lab/field networks in support of cutting edge research projects, and has been in the line of work of T&E and R&D for nearly 10 years, with 50-60 Hawaii/US Aerospace/IT/R&D/Civ. Engineering Endorsements on LinkedIn. The other remote administrators are jungle_dave who is a former Electrical Engineer and Network Engineer and -Redacted- a UNIX guru and veteran miner. Our local/remote admin is bobsag3, who is also an IT veteran. There are 5 leaders in the DZ MC, with thomas_s and I doing the actual running of the Cooperative.

Mining Equipment will be operated by vetted IT pros, with backup host sites available. Payouts are on the 1st and 15th of the month minus a $150 host/management fee, the lowest around.

Once sales begin, Refunds are available up until unit ships at 1.5% restock fee. We vote on all buying, shipping, and resale decisions as well as vote on the month to attempt equipment resales after 5-7 months of operations.

Vetted GB Coordinators are encouraged to team up to increase buying power and close out Group Buys quicker. All suggestions are welcome to help improve our Co-operative.

- Approx. total value of GBEC / GBC ASIC pre-order sales or pre-sales of shares on this forum by DZ MC since Aug. 15: $300k
- Approx. value of DZ ebay ASIC sales (including 10 ebay shares for 3 GBs, worth $1.4K) since Aug.1 : $3.9K

- Several new GBCs and Bitcoin Miner Hosts vetted for free, and several scams pointed out on two BTC related forums.
- Number of FundRaising Rounds completed: 18
- Number of HashFast miners: 2 Baby Jets with paid upgrades, 2 Sierras, 4TH/s+ Total
- Number of KnC miners: 2 Jupiters, 800-1200GH/s + 4 November Jupiters (2thash+) + 2 q1/q2 Neptunes(6thash+)
- Number of Bitmine miners: 2 Rigs, 4 Rounds so far, 2.8TH/s, up to 5TH/s+
- Number of Black Arrow miners: 80 boards, 3.3 - 4TH /s
- Total Ordered HashRate: 19.1 TH/s+ Total
- Online Auto reservation system tailored for Group Buys thanks to vetted GBC thomas_s!
- Server grade UPS units, a DZ MC gas generator, and a DZ MC Air Conditioner just for our miners in a custom cooled cabinet built by bobsag3, which will allow us to provide a perfect home to explore Overclocking for DZ MC ASIC miner rigs.
- New! A sixth GB Coordinator has joined the co-op! He's a VP of his own small oil company in Texas and is helping us to cook up a couple of future projects. Welcome Aboard!




Last order paid: R18/18x, Bitmine Rigs

R19x Orders should be placed here: http://www.dzminercoop.com/?product=r19-2-knc-neptune

BTC Payments will be directed to thomas_s via our site for R19x.

For US Customers: for a 3%  fee for USD conversion to BTC, we recommend: Cash Into Coins a FinCEN compliant MSB, and official DZ MC partner, who can get BTC sent to the wallet address you want in as little as 15 minutes to an hour.

Official DZ MC Reseller link: https://cashintocoins.com/index.php?code=dzcoop

For Intl. Customers: We are still exploring suggestions for inexpensive BTC conversion but I can recommend www.bitstamp.net at this time as that's the exchange rate used by our payment processor.

If there's any concerns about registering your payment, please follow up with a PM to Thomas or a support ticket. There's two methods to resolve this:

A. Send a support ticket on our website www.dzminercoop.com

OR

B: PM to thomas_s on this site

Subject: DZ HF GB R19, x shares, x BTC
Details: Please include Tx ID, your wallet address for payout, and any concerns you may have about your transaction(s)

==

thomas_s -  Primary GBC for Rounds 5-19. Co-GBC during R3-R7. R2 member. Send BTC payments and questions for R19 to thomas_s . Set up Online Auto Reservations for the co-op!



===============================================================================================================


I will accept any wires for 15+ Shares.


===

Thomas is handling questions and collecting payments for R19x via our site (unless you require Escrow, in which case you can PM DZ). He set up the automated reservation site and the GB with my input. Great work Thomas, and it's definitely an improvement over me trying to keep up w/ an avalanche of PMs and payments.  Tongue

Thomas and DZ will still handle or assist in:

- Ordering
- Shipping details
- (Optional) Escrowed GB shares for those that insist on Escrow Protection from a 3rd party for: holding BTC funds, post-sales dispute resolution, $500 insurance per transaction at 2% extra cost to share price. Semi-automated Escrow is done thru BTCrow.
- Remote miner setup
- Remote troubleshooting/
- Incremental overclocking
- Payouts or assist in payouts
- Auditing hashrate vis-a-vis payouts
- Dispute resolution and arbitration, if necessary. [Should be rare as we're all adults that don't need to yell. Tongue]

Refunds: Refunds are discouraged because of the chaos caused in Group Buys, but if necessary, you will be refunded before the miner ships, at a 1.5% restock fee. After the miner ships, no refunds are available.

By sending payment, you agree to these Refund terms before purchase.

===============================================================================================================

NEW (10/21) Share Ownership Transfer Fee: There is now a 0.75% Ownership transfer fee if you're buying someone else's DZ MC co-op shares. We put a ton of time, money, and BTC to offer the GB community many of the world's best at-cost and below-cost deals. Refunds and share transfers cause chaos and extra work for us.

This 0.75% share transfer fee *MUST* by paid by the new owner before we will transfer share ownership.

Hopefully you guys have thought about this already,  but dz should all use the same reseller address... get more bang for the buck.  Sell the lots in a group of 11.

Thanks guys.  Interested but man that's a long way out for a pretty expensive piece of gear.  Just not sure it will ROI.

In.

A very big thank you to bobsag3.

Right on GG bobsag3!

I know I've got great partners when I wake up to new KnC product news...and the gents already have it all figured out!  :D  ;D

Nice to know that we're all on the same wavelength about things like this.

==

OT: backed up on PMs at the moment, sorry everyone. Lots of meetings and discussions with investors. Catching up on PMs as best I can this afternoon/evening.

quote from the OP:
"We've purchased 2 KnC Neptunes that are estimated to be shipping sometime Q1/Q2 of 2014."

what does Q1/Q2 mean: (Q1 = January up to March / Q2 = April up to June)

March/April 2014?

this is a long time from now, when i'm correct with that months...

Order #865 - thanks!

Did they even announce the pricing yet.  Based on this your saying they are asking $11,250 for 3 Terrahashs ? ($225 x 50 shares = 11250)
Are you sure this will be the price ?

ten grand:  https://www.kncminer.com/products/neptune-first-batch

so I guess plus shipping, ups, power supply, idk what else. all adds up

Order 868.

We will see what happens!

Should I send txid and payout to thomas_s or wait for another email from you guys?

Edit: PMed thomas_s anyways

3 separate orders please.
Each round should be a separate order.

PM send to thomas_s

Yes, please separate Round orders from one another. For example: if you bought from R17 and R19. 2 shares in R17 would be 1 order, 5 shares in R19 would be a separate 2nd order...

Our backend tools don't separate this and instead lumps all the BTC together, meaning we have to do all these back calculations which can lead to possible errors.

I used the website to purchase shares of R17 and R19 in one order.

I wasn't aware that was an issue.

Order #884.

Its fine if it only happens once or twice, but can cause serious problems if any refunds need to be done as I may allocate your BTC slightly different between orders.

Order 900
Transaction ID: dd921eb3a16f0dbeb6956288a85ac6547ce14c9c64fac47a3e21ce5423aa5e6f

thnx

In for two shares, order #904, txid 033abfd0034437c85087e2c0b6141228d1d71f3ac1a7c2ad41fdb66e71b23b9f


Sincere apologies. I ordered a combined R17/R19 order without first reading this. Hope I haven't caused you too much work.

I get a 404 when I access that page... I don't see the product listed for sale on the site yet either, so I don't know how this got ordered... Did they put it up temporarily and take it down again?

I guess. Link worked yesterday. We've got two!

Link only works if you have a previous order with KNC, as we've purchased a bunch of jupiters we have a few accounts that can access that page.

Not quite - it will also work if you have an account with them, even if you have not yet bought from them.

2 shares

9191f2afbd384213f2041ca16e2528dbc9fe152455d70b033f2349a13835c3c5

#937
5 shares.
49416c14e6e401eba4f09c4e0e08e7af0928077fd850bef96789b7b4a5b99691

may the force be with us! 8)

Welcome aboard gents! And welcome back co-op vets!

Update: there's 26 out of 200 100 GB shares available for this unit.

50 per unit.

Shipping shortly?  Huh?  I thought this wasn't landing for quite some time.

Yeah, sorry fixed my post. Too many GBs even for me, lol!

I had updated R15/16 w/ shipping updates so I kinda had that round on my mind.

Hah thought you knew something no one else knew :)

I sent the BTC a few days ago for one share but didn't receive an email and the order status is still "Processing" on your website. Is all OK with this?

"Order #948 made on November 28, 2013. Order status: processing."

TX: a8d1a80f821e6940734c9f7f97b2dae05f716de0dd775fda96ee631764af9ed0

is batch 1 and 2 sold out? what is the link to buy some shares?

There should still be shares, I will check.

Nope, we are sold out :(

Hi Bob,

Confirm 15 shares for LloydieR19. Funds sent today.

payment address: 1Agu1XFvBWEB7xH9GM1M7hNQ98X3WEe1bg

thanks.

Mahalo to everyone that bought into this round for KnC. They are the gold standard for releasing ASIC miners IMO.

Merry Christmas everyone! If you celebrate or don't celebrate this holiday, my toast of good cheers to you and yours is still the same. I'm thankful for our customers and I'm thankful for you co-op members that have helped make this co-op the success it is today by helping us improve things over time and helping one another out with knowledge. 5 months ago I had no idea I'd form the biggest public co-op in the world for BTC mining.

It's an honor to be the founder and co-leader of a co-op full of so many like minded miners, and I'm both humbled by our success and very thankful to have met my co-leaders, which has resulted in round after round of world class values, and a crypto umbrella company founded upon the core of the DZ MC (with the co-op shielded as a sub-company).

Here's to a successful 2014!

The following rounds will have a hold placed on transfers, this hold means no transfers will be completed until the hold is lifted.

R17
R17-2
R18
R18B
R19

This hold is being placed because a few addresses are still needed and a constant change in the spreadsheet can cause problems.

If you are a shareholder in one of these rounds and have not provided a payout address you will be receiving an email this weekend requesting one please reply to it immediately, if you purchased in multiple of these buys you will get one for each you must reply to each email you receive.


ENSURE YOUR REPLY HAS THE ORIGINAL EMAIL IN IT.

Going to go ahead and bump this, and bring a vote to order.

Want to check with everyone if we want to proceed with a refund on this.

We can either:

Sell the 2 preordered KnCs (we are very very much at the front of B1 Q)
Ask for  Refund from KnC, either in BTC or USD (they seem to be doing both)

Can you summarise why we might want a refund? I've probably missed the news... Have they slipped, or are we just looking at the current diff and not seeing much profit to be had?

lot of fud in the knc thread after this announcement: https://www.kncminer.com/news/news-75

clear as mud.

I must me missing something or extremely gullible. To me it looks like development is on target, they have a way of compensating for any slippage, and performance is generally better than expected.

That... seems OK to me?

Could we please have a bit more information on what prompted the refund poll?

It's hard to make an informed decision without any relevant information.

Nothing more irritating than going into a group buy thread with a title that says "OPEN" to find it's sold out! Update the title please.

KnCs "plan B" + the recent difficulty + timeline on receiving the item.
I personally dont care, but I think we can actually get more BTC returned than paid, due to the current exchange.

if we can get btc refund while dollar is high, let's do it

2 shares refund

If we can get a prompt refund from KNC in BTC at today's rate then we make a small BTC profit (no cash profit). I vote for this as long as DZ don't charge the 1.5% "restock" fee. This is not co-op members requesting a refund from DZ, it is the co-op winding up the GB.

refund as well. thank you

Seeing the diff.... Please sell\refund

1share

I'll go for 2 shares sell or refund, whichever higher

Not entirely clear the motivations for the refund are in everyones interests here. Bobsag3 is already doing refunds on the undelivered R17 (Black Arrow) but refunding the original BTC amount which is of course for most people worth considerably less now in dollar terms. I suspect bobsag3 is getting refunds in $ at the original value and pocketing the difference. Bobsag3 if i'm wrong I apologise, but please clarify, you have ignored the issue so far on other threads!

My assumption is that we would be sent the dollar figure in BTC at today's exchange rate. The cost of this group but was quoted in $ in the OP. Hence my comment about making a small BTC profit but not a dollar profit. This is not us requesting a refund, this is DZ winding up the GB and distributing the remaining assets. Those assets being the refund that the vendor provides to the co-op.

Bobsag3, can you please clarify this for us?

We would be taking a full $ refund from KnC (assumed since we only ordered 2), and using all of those funds to re-buy BTC at whatever the current rate it. So everyone would receive the same $ amount roughly they put in, but extra btc possibly.

+1

I support that, as I said, I am PRO refund (1 share)

That's exactly how I assumed it would work. Thanks.

Need to change your nick to honestbobsag3 :)

Since unless they ship asap I don't think we have a chance at roi so I vote refund if we can get it.

Any news.. voices.. anything?

So far it seems that the general vote is to sell.

There were 100 shares sold in this round. So far the following people have voted publicly to sell and refund in the "poll";

Railzand  2 shares
bakal      1 share (? based off blockchain BTC transfer amount)
Tasweb  1 share
vancon   1 share
gh2k       2 shares
trippn      1 share [EDIT - updated, thanks trippn!]

That's only 8% of confirmed shares (votes) accounted for (plus any share holders who may have voted via PM).

Any of the bigger share holders (I assume there must be some unless DZ bought most shares themselves) have an opinion they wish to make public?

I voted for a refund however this doesn't really owe me anything so the final outcome doesn't concern me greatly.

I have 1 share

Thanks, updated my post.

I have 1 share, sell as well, thank you

1 share, please sell

1 Share Sell Please

I vote for a refund, if BTC will be more than what we invested refunded and you can pull it off before BTC price goes above $700 again.

Then I would say Yes, go for the refund and buying back the BTC route.  But please do it quick.


Edit : 2 Share holder here

bump. anyone else wanna refund?

Ill have to check my old emails but i got around 11 shares and i guess ill vote to sell if everyone thinks that is the way to go. I would be interested in a titan group buy if anyone else is

i have 5 shares and i would go for a refund if we go for it ASAP. can we get a mailing list or something going to inform the other shareholders? if we move quick we can make a good return in BTC.

We are moving ahead on a refund on this, I should have a update from KnC tomorrow on weather going to be in BTC or USD.

If In USD, BTC will be repurchased at the time of the refund, and distributed to everyone equally by share minus the 1.5% fee. Should result in everyone getting more BTC than paid in.

fingers crossed

My vote is if refund is in BTC keep the order as is.  If refund is in USD, then yes please get a refund and buy BTC.

Lu (kncminer)
Mar 31 11:03

HI,

Your order 11156 and 11906 is marked as refund ready for process in our system now. It usually takes 3 to 10 business days for us to process your refund. We will mark your order as order refunded when your refund is done, thanks!

Med vänlig hälsning |  Best regards

Lucy Edvardsson
Kncminer
www.kncminer.com
Office: +46 8559 253 20

Looks like a bank refund it is, so we will proceed as I previously outlined.

nicee
thanks bobsag3

awesome! :)

Nice.  I haven't checked in in a while and this is great news.  So we should be expecting refunds this week you think?

Just need 3-4 days after refund received (for me to re-buy all the BTC from coinbase)

Great now they offer free 3TH/s mining when you wait for your product to ship.

We made the wrong decision on this one guys.

https://www.kncminer.com/news/news-82

I'd rather get .5 btc per share +/-.  60GHs will never mine .5 at this point

Oh and Bob... PLEASE!!!  Tell me your converting right now with btc down to 410.   :o

same here tripppn

I just got a note from them that re refund was rejected by my bank.... Does not seem legitimate as this is the account we use for all our website orders and no one has had a problem with it in the 6 months we have been using it.

Lu (kncminer)
Apr 10 15:24

This is a follow-up to your previous request #17564

HI,

Both of your order 11906 and 11156, the refund are bounce back to us. Here is the copy from our bank and with the reason why it bounce back.
Can you please double check with your bank and proveded us the rihgt bank details, so we will process the refund again. Thanks!

Med vänlig hälsning |  Best regards

Lucy Edvardsson
Kncminer
www.kncminer.com
Office: +46 8559 253 20

I will go ahead an provide them with a 2nd account that I know also works just in case.

Does it have anything to do with the following?

I sure hope you are going at this aggressively, Bobsag.. right now the price is under 400 so we could get an amazing return in BTC at least. probably even more than we could have had we chosen to mine. but this has to happen fast!
my fingers are crossed and i'm sure everyone else's are too...

I assume so. I dont see why they had problems with the BoA account, but I now told them to send to our Well Fargo instead.

I know this is late - but I have one share and I'm up for the refund.  THanks!

Any word on the refund bob?  BTC is going up which usually I would be happy about but not till the refund goes trough.   :(

I sent them another email this morning, stating how ridiculous this time frame is.

looks like they dribbling

Hi Bobsag / DZ / Thomas / Redacted,

I am not sure if I should post this on this thread.

I just want to know which Rounds of your group buys are running, waiting for miner or waiting/going for refund.

Thanks

Only GBs left are R17/R18, the Hashfast GBs, and this one waiting on a refund. All others were bought out and paid out.

and the Bitmine refunds

Yes and the Bitmine refunds.

Hi Bobsag,

So that means the bitmine group buy is running now right? Because I haven't received any pay out for that.

It might be because I haven't supplied my payout address yet, but I can't login to your new website to see my order numbers.

If payout is done before I supplied my payout address that means you still hold my BTC and will send it to me when I give you the payout address right?

Thanks

This

I rather have the free 3TH/s they offered at this point.

Hi Thomas,

I wasn't aware of the bitmine refund. So the group buy did not go ahead then? I was hoping it went ahead though.

Do you know where my refund is going to (sending address or payout address)?

Thanks

We're still looking at close to a .5btc refund.  60GHs will never mine .5 btc
We're much better off with a refund.

Also I don't know what the hosting costs would come out to per share for this beast but that will more then eat up most of the mined coin.

Example:
Here's the last weeks payout breakdown for GB1 with Ninja's Group Buy.
This GB was for 30GH per share (currently running at 18GH/s till we get the Neptune delivered) with weekly $4.50 hosting fees per share.  This is high I believe compared  to this GB but just so you can see what I'm talking about.

Dividend - Week #13
Total Earnings: 3.489BTC Payout Addr
Total Shares: 290
Hosting fees: 3.063764 $4.49x290@$425.00/BTC
Amount per share:   0.00146633
Tx Fee: 0.0036 Transaction

5.5 TH/s produced 3.49BTC this week
There are 290 shares at $4.50 a pop for hosting ate up 3.06 of the 3.49 making it so each share was only paid out .0015btc

Given this is with low btc/usd value but this is what you have to consider when you say you want to take the hardware as apposed to just taking the refund and putting it to use elsewhere.  With .5btc you are over half way to your own S1!

any news on this? and on bitmine refunds?

why do i get this feeling that they(manuf*uckturers) are stalling whenever price of btc vs usd goes down, and when price of btc vs usd goes up?

they are so greedy. they mine to refund, but prices of btc goes up, they delay. i learned my lesson on pre orders.

anyway please keep us posted. thaks bob, thomas, dz,  coop team

God Bless

bump

Were on week 3 out of the 4 weeks the said it could take.

The internet is very impatient!!!    ;)

This almost makes me want the $/BTC ratio to go down.

(I own 15 shares. A refund is fine with me.)

Hoping that KNC refunds us asap. I get this feeling (hope am wrong) that somewhere down the road when BTC prices goes up, we will hear some news that we will get our refund.

if thats what it takes then I'm happy either way, unless it drops to 60 bux a coin because flappy coin takes over. lol

Any news Bob... Apparently I need to stack up on Flappycoin before its too late.

What a surprise, another DZ Coop group buy that's gone titsup.

Still waiting on my R17 refund bobsag....you know the one I've politely requested several times, without so much as an acknowledgement from yourselves.

I am still waiting on them for a response, but If I dont hear from them friday I will be getting corporate counsel involved, I am tired of waiting around for them.

good cuz we are all tired of waiting for them to be done using our money to build their facility . My business  could use a cash injection over here too maybe i should promise everybody a 1000000000 ghash machine it will be out between quarter 3 and 4 of this year

Just got this gold:

Liam (kncminer)
May 06 12:08

Hello,

We are experiencing delays with our bank transfer refunds. We apologise for this.
However, we can now provide you with a bitcoin refund which will be processed much faster. The refund will be issued at the bitstamp.net rate at the time of processing. Please provide us with a wallet address if you wish to receive the refund via this method.

Thanks


Med vänlig hälsning/Best regards

Liam Vardy

KnCMiner




So 2 months after I ask for a BTC refund, they deny me and force me to take BTC, all of a sudden cant get a wire? This is some serious BS.

let's just take it and be done with it

agree

anyway, lets get the whatever we can get, and lets move on. this bitcoin thing really promotes greed. I am greedy but i am honest. ahahaha

id probably just rather get a refund but if we end up getting .2 btc a share isn't it better to just use the machine(if it exists yet)

F that!  I'm sure they would love for us to take a btc refund at these levels.  I vote cash refund don't let them get away with this BS.  They had their chance to refund it btc.  That time has passed it time for them to fork up the bills!

What do they mean at the time of processing ?  price at time of purchase or price now ?  What would be the difference of getting a BTC refund if you are buying back anyway.  Unless your saying they are trying to short us to take the original amount.

my "agree" is for "price now" otherwise it is a "disagree"

any news on this? thanks

Not at this time.

Update yet ?

any update? thanks

Nothing yet.

there goes our btc.

the neptune group buy done by charles99 just got their refund maybe knc is getting around to paying back customers

I just got an email stating the refund by wire was sent the 19th, nothing as of yet this morning in our account. As soon as it appears, I will be rebuying BTC at the current market rate, and everyone will get their share of the BTC minus the small fee (1.5%)

EDIT:
Wires have hit our account, 2x $10,082.00. Depending on when they clear/when I can buy the BTC, current market rate is ~492/btc, ~40.98BTC total will be purchased not including the fee.

awesome news (:

Money should be clear by tomorrow, BTC buyback will commence immediately.

BTC has been purchased at spot price today and will clear at the end of next week, each share will receive 0.376 BTC

The other option, is right now with the exchange rate where it is, we could purchase (7) SP10s instead. That would give us approx. ~10TH Vs 6TH with the Neptunes, and we can get them hashing as soon as next week, as well as ~2BTC left over being added to the first payment in leftover. Downside to this is higher hosting costs, $110 per unit per payout. We have till next Thursday (When the BTC clears from coinbase) to make this decision, Thomas and I do not care either way.

i prefer refund, thanks

Same here. Refund please. Thanks.

Also refund please.

We will only be doing a refund not more hardware.

Thanks good to hear this ball is rolling

Hi!

Confirming refund requested for Tasweb to 1GcA9E2TpmbHwDabW6s1SVqWf2WgdRHe1f

hi! are the refunds in? thanks thanks

BTC came in from coinbase late last night, Thomas_s will be distributing them later today/tomorrow.

Is this still going to happen today ?

I've checked my wallet 10 times lol ::)

BTC Is ready to refund, thomas_s is waiting on email reply to send out refund

which email?
(I got nothing)

First set of refunds sent out

0ecf45a14bc2670afbc3905a1c86c618221cc54081e9f38fa94483cbeaebe86d

The email was sent to the email address given when you purchased, check your spam folder. If you still can't find it email orders(at)dzminercoop.com from the email you used when you made the purchase and provide your order # and information.

Did the amount change ??

I only see 0.6752 for 2 shares we should have 0.752 for two shares.

Your original post quoted above says 0.376 BTC per share.

0.376 was a mistake, It should have been 0.3376.

Seems off even with fee.  I got back $215 worth of BTC today per share.  Would have been only worth $193 per share the day (May 22nd) if it was purchased at spot $522. (Should be close to $225 which is the original amount we paid minus a fee as of the 22nd value and should be much higher value than the original amount we paid ($225) currently since BTC price went up 19% since BTC shares where purchased)  - Simple looking at the USD values this makes no since at all.

2x $10,082.00 at Spot $522 = 38.6283 BTC per share that is 100 shares at 0.386283 BTC

That is a difference of 13% 0.3376 BTC vs. 0.386283 BTC.  Are you telling me the fees for buying the coins and fees we paid for management come out to 13% ?

i am happy to have received my refund but i as well wouldn't mind an extra 13% but than again who wouldn't.  I'm not sure if failures is really the time to be trying to cash out . I pulled out the old pad and pen and got the same as unoe . either way i had a positive run with the dzmc

Well in USD value you got back less than you started with.  Even though BTC was purchased at 19% less last week, some how we all get less USD then what we started with.  And yes the best way to look at this is in USD since we all paid the same amount in USD (but different BTC amounts).

done. (:

I also get back the same math as the others.  What was the spot price you guys got on the 22nd? I'm feeling a little bit ripped off. =(  Tell me why I shouldn't? 

Coinbase held our transaction and spot price was done a few days later @ ~582.

Gotcha.  So,  Still at that price,  I get 582* .3376 = $196,  not $225-1.5% per share,  which is what we were promised?  I still come up about 10% short.  What am I missing?

I've not received a refund yet and sent an email to orders@... but have not received a response whatsoever. When may I expect to hear from you guys?

$20164, 1% in coinbase fee's, Spot price at time $582.45,  1.5% administration fee.

Second Day refunds sent.

3ee67d23499f97504daede8efe1aed203944a37e1b94e329959d7ddaafab3e7e


Emails will not be responded to, at the end of the week another email will go to those who have not been paid asking again, after that the funds will be moved to cold storage until claimed.

Just received mine. Thank you!

Ah!  That math works out.  Thanks!

me too, thank you guys

I have not yet received my refund for the 15 shares I own. I am not the original owner of these shares (I purchased them from Lloydie). I suspect I might have gotten missed. I sent bobsag3 and thomas_s a PM about this, but I haven't heard back from either yet.