Bitcoin Forum

About:

KnCMiningOp is currently mining with 3 Jupiter's around 1.5TH/s and 47 members. We have a KnC Neptune on pre-order that was paid for with the re-investment fund this morning. There has been a ton of interest from existing group buy members and non members to buy additional shares in the group buy. As a result I have decided to open up additional shares with out diluting current shares in the below format.

You can check out our stats page here: http://54.243.221.120/ (Note on Jupiter 3's hash rate: 3/4 chip have been RMA'ed and are estimated to be back up and hashing by tomorrow Nov/27th.)

Investment info:

1000 shares total per Neptune:

750 shares public.
50 shares to myself for management.
200 shares being issued to the mining operation. These dividends are deposited into the re-investment fund and used to buy additional hardware.

For each 750 shares that are sold will represent a Neptune. So for example if there is enough interest that 1500 shares sell. 2 Neptune's will be bought, if 2250 shares sell 3 Neptune's and etc. Any remainder of shares will be refunded.

Dividends:

Get paid weekly on Saturdays.

Please note that these additional group buy shares will not start receiving a dividend until your unit is up and mining.

Reinvestment Fund Details:

I will use the way the pre-ordered Neptune will play into the existing shares/math:

Back in June-August I was able to get around 50 people to invest with me into 3 Jupiter's for a total of 1.5TH. There were 3000 shares sold back then so each share currently is worth around 500 MH/s when the Neptune that was paid for this morning will come online each share will be 1500 MH/s with out adding any shares. When the 2nd Neptune is added each share would be 1875 MH/s with adding 1000 shares. As each additional device is rolled into the existing pool the per share MH/s should increase. When another device is added with the reinvestment fund monies the MH/s per share will increase.

Costs:

One-Time Neptune: $10,200
Shelf & misc: $100
2 - 3 PSU: $400-600
Electric circuits installation: $500-$2,500

Weekly:
Miner estimated power usage: ~$60

Monthly:
Rent: $0
Internet: $0
Management Fee: $0

Future Plans:

Save profits and buy additional units.

Payment & Escrow:

Please setup your own escrow, I recommend blockchain.info or John K escrow.

Or the mining op address is: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

When you send your payment please pm me the txid, your dividend address and your email address.

Price per share is .016 .014 .018 BTC or $13.6 $18 USD.


FAQ:

Are the shares transferable?
Yes they are.

Can I pay with USD?
Yes I'll accept certain methods of payment via fiat. Please PM me to work out the details.

Can I pay with Paypal?
No, my Paypal account got shutdown for bitcoin activities that Paypal deemed too high risk. Even though not a single charge back has ever been filled against me.

Can I pay via Havelock, CryptoStock or Coinbase BTC transfer?
Yes you may. Please PM me for details.

What are the dividend expectations per share?
See the Dividend Yield Estimates sheet here: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c#gid=1

What happens if BTC drops in price by the time the miner(s) is paid for?
I will ask everyone to send in a little extra BTC per share. If you paid with cash you won't need to pay anything more.
You will also have the option for a refund if you don't want to send any more, less any fees.

Has this unit been ordered yet and/or when will this ship?
Yes it has been ordered and depending on when the order is paid for depends on when it will ship.

Any other questions please PM me.

Myself 125
Lighteden 20
joeventura 150
bitcoinsucker1 10
Dr. Buzz 400
venom.oca 200-300
bluh5d 40
donnyc 10
albon 20
furuknap 250
madpoet 100
venom.oca buddies 1130

Around 2500 shares have been already been reserved. The order above is what will determine your place in which Neptune you are in and when your shares start receiving dividends.

Those of you that have made a reservation please send in your payment and PM your TxID.

Thanks,
George

GB4 Paid:

Lord Stapy   8
Lighteden   9
ipxtreme     9
Travis S.   11
donnyc   11
kai11           22
bluh5d   25
railzand     28
crankmonkey 34
Dr. Buzz   40
venom.oca   76
madpoet   100
wintermute   199
Mining Op   200
erschiessen   228
 
Shares left: 0

GB5 Paid:

Lacutis   2
thok422   4
arnbrd   4
adam00f     5
grosbill   5
miner17    6
ipxtreme     8
michelDiz   9
012anna   10
Bill Bisco   10
Dr. Buzz   10
bitminer9000 10
westside8    10
Lighteden   11
Renan   14
publicstalker 19
shurkken   20
Bigdaddyaz   20
trilby          40
doctordig   47
kAUha   50
wintermute   50
The Rouge 1 51
railzand   60
11Blade   70
howardb    75
Maria         75
Nate           105
Mining Op   200


Shares left: 0

GB6 Paid:

GB4 Paid:

Lord Stapy   8
Lighteden   9
ipxtreme     9
Travis S.   11
donnyc   11
kai11           22
bluh5d   25
railzand     28
crankmonkey 34
Dr. Buzz   40
venom.oca   76
madpoet   100
wintermute   199
Mining Op   200
erschiessen   228
 
Shares left: 0

GB5 Paid:

Lacutis   2
thok422   4
arnbrd   4
adam00f     5
grosbill   5
miner17    6
ipxtreme     8
michelDiz   9
012anna   10
Bill Bisco   10
Dr. Buzz   10
bitminer9000 10
westside8    10
Lighteden   11
Renan   14
publicstalker 19
shurkken   20
Bigdaddyaz   20
trilby          40
doctordig   47
kAUha   50
wintermute   50
The Rouge 1 51
railzand   60
11Blade   70
howardb    75
Maria         75
Nate           105
Mining Op   200


Shares left: 0

GB6 Paid:

oedo808   9
hellaslubo   23
venom.oca   16
Lighteden   11
Lacutis   20
thisguy   160
tmu   40
Harderfaster   2
publicstalker   11
SteveHome   10
va23boam   23
Zeamar   10
miner17    6
tripppn   25
gamefixer   111
sebasimp   56
N[e]wBie   50
The Rouge 1   20
offbalance   1
addzz   10
CSInvestments   2
Yeos   10
Konnon   10
SosDk   30
billybeartku   25
pkbudz   13
arkitect   10
rd1   8
sconklin321   1
threatgreater   23
crackfoo   1
MrPalmer   2
wintemute   51
Mining Op   200

Shares left: 0

Edit: I'm going to keep editing this list with updates. Updated 1/4 11 PM CST

so let me get this right as this would be my first group buy,


if i send my coins to 1vsNpyK548ew789iKTXprsK2SKYvMyiXD
then pm you the txid, my coin address for dividends and an email

then im good to go right?

Whereabouts are you physically located? Do you have any details of your mining operation you can share?

paid for 2 shares, you have PM
please reserve me other 5 shares

W00T!

That is correct.

I'm around Chicago, IL.

Sure here you go:

GB1: https://bitcointalk.org/index.php?topic=243092.0;all
GB2: https://bitcointalk.org/index.php?topic=249820.0;all
GB3: https://bitcointalk.org/index.php?topic=252584.0;all

GB Stats: http://54.243.221.120/
Finances: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c&usp=drive_web#gid=7

Shares buying/selling thread: https://bitcointalk.org/index.php?topic=336900

Got your payment and reserved.

I can personally vouch for the KNCMining Op, I have been a participant since inception,
Communications: Stellar
Record keeping: Excellent
Payments: On time, every time.

Also offering my support, George has been a great communicator and the payments have rolled in on time every time.

Just wanted to second this. George has been great! Although I am one of the smallest shareholders in the original 1-3 GB I always feel in the loop.

Yep, George is Top Shelf managing these things. Dividends are always paid on time, he's a great help and he knows his shit.

Also you may want to post to Mining/GroupBuys as well, I would have never thought to look here if it wasn't for the link.

just purchased please confirm
thanks

joeventura, madpoet, aoshea and Chef Ramsay thanks for the kind words.

Good idea!

Got it thanks.

Done: https://bitcointalk.org/index.php?topic=349648

paid for the 5 reserved shares
TxID: 9ae127dd611408ea8cda234abadf3de50325bd49079a630c50059046e9de5393
(0 confirmation ATM)

Got it thanks.

Due to BTC rising I'm dropping the price and recalculating what everyone has already paid for.

The new price is .014 BTC per share.

If you already paid you will get additional shares. Take the amount you paid and divide by .014

I'll be updating everything shortly.

Dr. Buzz decided to personally to split a Neptune, but he still bought 40 shares. As sad as I'm to see him go I'm impressed he made that big of an investment on his own.

First Neptune Paid for: https://bitpay.com/invoice?id=Db2tfzFk7rfU35qWE3rVTQ and: https://blockchain.info/tx/c9b2dd3ac8bbeb4e523a1b14e6fadb668fe9fdb346fbf487120e825149d7bce9

There are 109 shares left in this first Neptune being nicknamed GB4's Neptune.

As soon as those 109 shares are sold GB5's Neptune will open up.

I had to borrow BTC from Saturdays Dividends to pay for this Neptune.

George

Paid for my 100

Got it thanks.

Had to take 25 shares instead of 50.

Payment has been sent:

TXID: 2d0809fceccb6cb0d64e899d9fef121f35fabf58befe6f9c54420364b199ba88

Dividend Address: 19grjqKkWRSsKytTrY4mBzdHDLRqypyKxP

Also, sent you PM with my email address.

Thanks...

Got it thanks.

Jupi3 is back from RMA and we are pushing 1.7THs  :D

Since a lot of you have been asking about cash payment. I'll take a cashiers check, money order, Western Union, Venmo and personal checks only if you are a current share holder.

Hi

I presume the first batch shares are complete

and all share are for next batch ?

-------------------------------------------

see https://www.kncminer.com/news/news-71

 

The initial batch of Neptune boxes has now been sold. We have however kept a few back for people paying with bank transfers.

 

All bank transfers that were initiated before 11:00am CET this morning will be honored. If your order has been cancelled and you have already transfered funds it will be marked as paid when the funds reach our accounts. But as of now do not initiate any more transfers.

 

We will soon release the Neptune product again and everyone will be able to purchase this time not just previous customers.

 

Thank you again for your support

 

KnCMiner Team

Darn it. I've signed up for their email alerts on multiple email addresses and they are hit and miss with delivering them to me. Thanks for bringing that to my attention. We only paid for 2 Neptune's the other orders do show as cancelled in My Account on their page.

This leaves us with a few options:

1. We keep collected funds and keep collecting funds and I'll buy as many Neptune's as I can on the next batch.
2. We look for other hard ware buy with funds collected so far and keep collecting.
3. We refund all BTC from GB5 and destroy all inbound money orders and checks.

Thoughts?

KnCMiningOp, what group am I?

3rd post shows positions

Im also thinking of doing a group buy

I think its a good way to get everyone on this forum mining!

Take a quick look at: https://bitcointalk.org/index.php?topic=285966.0

Everything he says is true, but instead of 4 months its for the life of the group buy and good luck!

You are in GB5.

When the time comes impossible to mining BTC, what will happen to the groups? will mining other currencies?

Either we sell the units or yeah mine alt coins.

I vote to keep collecting funds and buy batch 2.

If you guys will go mine other currencies, do not forget to call me!
Do you think is possible to mine Litecoin?

Not with these no.

what will be done? Is there any estimative when the next batch will come out?
Do you think other hardware is as good as the neptune that is worth a try to buy?
so many questions...

I'm not sure, I would expect them to announce Batch 2 sooner than later.  I would assume they do have to give their vendors and factory's a heads up. At this moment I don't think there is a reputable vendor that can provide the same cost per GH/s.

George

I wonder if it's possible to mine other SHA-256 coins such as PPC, convert it into BTC via a exchange and then split up the dividends that way with a higher profit margin.

Hi,

I read the OP and am very interested.  I was reading the expected dividends sheet.  Is that per week?

Thanks,

Bill

Interested and sent PM. Looking for USD payment options.

Yes very possible.

Yes it is.

Hmm, I have a few more questions. I would like to reserve and buy about 27 more shares but I have my funds split up between PayPal, a bank account, and a debit card. What kind of transfer is most preferable for you? Plus, if we are unable to get the Neptune for GB5, what will happen then and if we do, what do you think will be the earliest time you are able to get it up and running?


So is it possible for us to do this for a week or two instead? I'm just making sure that I am not casually throwing away what little money I have, heh.

Hello Guys! the Renan Eduardo  asked to post the topic for him because he can not post, display an error!


what you guys think about it?

looks good, I don't know if the manufacturer is reliable, but it will cost ~$5,000 more, is that right? Cause one neptune costs ~$10,000
so my share would be reduced by buying this hardware?

I also do not know if they are reliable but here is the address ( Pennsylvania ) :

    1254 W. Chester Pike , L & M Professional Center , Havertown , PA , 19083

The price of Neptune is unmatched ... Cointerra , Black Arrow , XtremeMiners , AMT and HashFast not come close in quality at all . Cointerra say have a great money but deliver only in April. Black Arrow is economical and powerful delivery for investors but not in groups . XtremeMiners ( 7.5 T / s for 14k dollars ) is the most powerful on the market with a good price , but it is a very young company and many are skeptical about its existence . AMT for now ( found so far ) is what else comes close in economics and relative confidence . HashFast cost a bit more expensive than AMT .

So unfortunately yes, you would have a reduction in their quotas .

If you bought 100 shares in Neptune, the AMT you would have 80 , with the conditions described in the previous message . But the delivery would be in February ( same period of Neptune) and in this business any month unless it can be crucial.

I'm fairly skeptical of an ASIC vendor that is claiming almost 2.5-4.5 times the power efficiency of KnC on a 28nm chip. BitFury has been the only other vendor that has delivered a 28nm chip and it was 30-35% more power efficient.

No one has ever heard of these guys and they are claiming to be that much better than KnC and BitFury? Can anyone find their Bitcointalk thread? Or a thread on any other forum?

George

KnC has announced Batch 2: https://www.kncminer.com/news/news-72

Those of you that have reserved shares this would be a perfect time to pay. With as fast as batch 1 went. Who knows how fast Batch 2 will go.

Messaged you. Hopefully everything is good to go on my end.

Which page shows the per share dividends on the spreadsheet?

Dividend Yield Estimates

Yup. Been a busy day had a PSU fail on Jupi3. Had to go out and buy two since they didn't have a 1K one in stock.

Since Batch 2 Neptune's are $3K more I have to raise the price per share. All that means is that you will get less shares. The new prices are .018 or $18 per shares.

Those of you who would like a refund please let me know.

George

Hey George and investors was best not to risk it and buy the AMT? At worst was leaving the same price (+ additional $ 3600) or 18 per share and would be delivered at least one month before ...

Here is more information about them: https://bitcointalk.org/index.php?topic=304605.0

Here are pictures ((posted on page 12 of the topic):

http://postimg.org/image/5db6hbn9l/
http://postimg.org/image/715qi8brd/
http://postimg.org/image/hp9hh2lqh/
http://postimg.org/image/f9c9gyt1l/
https://bitcointalk.org/index.php?topic=304605.260 (page 14)

They invite you to visit also. As I understand the server is more economical because it uses the bitfury chips in 28 nm lithography.

The company is small, but it is American. Would contact them:

Phone: 1855-866-6463
Fax: 1855-866-6462
E-Mail: sales@AdvancedMiners.com

I'm away to call , but I can send an e- mail asking for more details. I think there is a contract specifying the pre - order. Are required to send in the period at risk of having the money back or any extra penalties under U.S. law .

I have to pay more to keep my 10 shares now?

Me too. My 20 shares I bought in batch 1 got split into 2. I have 9 in batch 1 and 11 in batch 2. Now I only have 8 in batch 2.

but will be the 2nd batch released at the same time as the 1st? If so, we can keep with the Neptune. And what are the garantees that they will delivery exactly one month before neptune or are we just hoping that they will?
BTW those pictures didn't convinced me. Because they posted, not a user.

In the case of Knc date is this: Q1/Q2 of 2014
In the case of AMT payment and delivery would be this: "Orders PLACE AND PAID for by Dec 4th will ship from February 3rd to February 10th "

It has to do with George if he came into contact with the KNC , but I think they do not tell the date correctly . For Neptune is February sales are over, I believe it is for March. The advantage is that we would have 20 % ( oscillating ) more power for the same price per share - $ 18 and of course , possibly the date . Well the images prove that the product of these sites is similar to the real. Nobody because they will launch this product in February .
Here's a video: http://www.youtube.com/watch?v=PWBgz0Mbx20 . And as the company said it is in the United States , if it were in Panama could really off.

I sent an email asking for details of a pre - order and all its legal actions .


The question is : time is money. And in this business , a lot of money . February to March is my prediction that the difficulty will increase by double easily.

Buying 24 more shares George update me when you have a chance.

Tell that to BFL customers. Also they don't take Credit cards for their larger miners...

Since the Neptune's price went up everyone's share amount changed based on the new share price.

Ok , my last shot :)

Answer from AMT:

"Hi Renan,

First let me clarify that there are no CC payments for the 1.2 - so that's not an option. The only options are Wire, Check or BTC.

Legally we issue you a wire request invoice, this invoice is submitted to the IRS and report each quarter so that's pretty legit. After your payment is confirmed we send you a payment confirmation invoice showing your order is paid. This is more a B2B than B2C approach. IF we do not ship your miner by Feb 10th, yes you are entitled to a full refund, but that will not happen because we plan to ship your miner. We give these delays based on what we have, what we know we can accomplish and the fact that our promise is our word.

In this world, all a company has it's reputation and we plan to make ours one of the best in the industry.

In general you should be skeptical, your investing into a machine that generates money - this has not existed since the dollar was printed on a printing press. And the money it generates moves like a stock not a currency, so you need to be aware of that.

Also I understand what BITCOIN DIFFICULTY is - because your miner will not generate as much as you think it will if you are doing your calculations based on today. Several clients order miners without understand coin mining difficulty, please make sure you have a certain understanding of this. It would not be correct of us to not give you notice or to first understand if you as a client understood what that is.

Let me know what you'd like to do.

All the best

Jim Brown.    :)"

Well .. the decision is yours.

Paid for 20 shares:

TXID: 8a8dcf4954211f5d32b26c55d6b792f785e7e3d135dbb404b34076820120bf3e

Dividend payment address: 19grjqKkWRSsKytTrY4mBzdHDLRqypyKxP

Thanks!

Got it thank you.

I just spent an hour going through their 15 page thread and I'm not impressed. The AMT_miners guy is a total asshole to a bunch of people. So many unanswered question he just ignores and brand new people claiming have bought hardware. They have been already late on deliveries of the BitFury miners they built and have pushed back their ASIC ones as well.

Why did he refuse sushi and at least 3-4 people from visiting their office they have had for 2 months?

What does everyone else think?

I've spent some time on that thread and others, and I think some of the businessmen out there are assholes, but so what if they sell what we want?

I guess we are beginning to want more gigahashes between now and Neptune, no?

Amt seems to be a USA reseller of virtualminingcorp.com. I think they also repackage more for the home user, and sell vrm's smaller miners only.

(old prices)


They had their funding for eAsic in July. Unlike KnC who just now needed a quick million, then another 2.5 to go ahead with Neptune.

The queue - I have cut and pasted this from their website just now, and it is the same as Renan quoted: '8.00 lbs Dimensions    22 x 10 x 22 cm Hashing Power 1,200 GH/s
Power Usage 300w – 600w
Batch Ship Date    

Orders PLACE AND PAID for by Dec 4th will ship from February 3rd to February 10th'

Or this:
Seems like 2+ months for these. Which is better? ATM or vrm?

Or Blackarrow? DZMC has the group buy rights to the x3 and has preordered a lot and I mean a lot, and bobsag3 is flying out to their launch when I last heard.
But we could get x-1's at 3.5k per T/hs (minimum order 10x100M/hs) plus extra costs, hashing circa 7th March.

Or there's Bicknellski's hive project, which might be hashing even sooner, I'm almost certain is legit., and I don't understand a word of it.


I vote we need something like one or more of these 3 options right now and we don't leave it all up to George to research.

On AMT: If they are acting like assholes to potential clients and in front of potential clients. I can only imagine how they will treat actual customers and I for one don't want to deal with such unprofessional behavior. If they ship an ASIC and other reputable people confirm that they delivered. I'll consider them, but with so many other questions than just their unprofessional-ism at question I recommend to everyone we don't take the risk.

On VMC: They are already late on their Nov. Batch with no new shipping date. Seriously you are supposed to ship your product and you announce a couple days before the end of Nov that you decided to redesign things and now will be 2-3 months late...

On BlackArrow: Reputable. Last I heard they didn't allow Group buys so I'm surprised about you saying that, can you post the link? I also heard they don't communicate with their distribution channel very well and slightly over priced knowing Neptune's are coming.

http://www.minersource.net/black-arrow-prospero-x-1-100gh-s/

was wrong about minimum orders, but buy 10 get 11!

so we couldn't buy x3 because someone has the rights over it? I didn't understand. They don't wanna sell their products? Is that what it means? Buying 10x 100Mh/s I think it's not a good idea, because it's too much to manage even if we get 1 for free. I was think about buying 2 x3 but there are those problems mentioned before

they just won't do group buys for any model. minersource.net is a usa reseller who would sell us 2 or 3, I hope

I agree.

X3s interesting. I didn't hear about their x1-3 series.

GB5 Neptune has been paid for: https://bitpay.com/invoice?id=AwDW52KgioEVa9SNFzTqs9 & https://blockchain.info/tx/cdb859ef26fbbc26780282bc6fcd251cac64b9f7d2c19c1d6c68d8185016b37d

BTC were borrowed from the the dividend pool.

Only 216 shares left in GB5 and I'm still looking into the X3's

I was thinking about a vote but you posted that. I thought that X3s would be better, cause they will probably deliver it february and as Renan said, time in this bussiness is crucial. The only problem about Neptune is that they don't stipulate a date just a period of time and I think neptunes is gonna be delivered before after.

I need to apologize, my english is not that good.

I wanted to secure a Neptune before they sold out again and since we can get a refund from KnC up until they start shipping. I think this was a good hedge at the moment. If the majority decides to go with the X3's so be it, but I'm still working on the voting system.

George

I vote the Black Arrow X-3 if they do not find out that we're a bunch :)

"Group buys: Group buys are not permitted. We will cancel any order that we discover that is a group buy and will refund the payment minus 10% that we will charge for our time wasted in this matter. By placing an order for this item you agree with the above."

Fear... rsrsrs

So if I now buy 1 share, what is the expected Mh/s a share?

2100 Mh/s per share.

Haha we will see what happens.

We should consider mining another coin when the hardware arrives. I was reading the forum and if its true that KnC will dispatch 1200 Neptunes at release time it will increase the difficulty in a factor that I think it will not be worth mining and I'm only talking about KnC now you image all other manufactures releasing their product about the same time.
As the other guy said in the topic PPC could be a good choice.

Hey George correct me if I'm wrong. Before it was 3 GH / s for 0.018 BTC ($ 18). Now is 2.1 GH / s for the same price?

Hi Renan,

It was never 3 GH per share. It started out at 1.875 GH per share with GB4 and increased to 2.1 GH with GB5 and might increase with GB6.

From the OP:

Reinvestment Fund Details:

I will use the way the pre-ordered Neptune will play into the existing shares/math:

Back in June-August I was able to get around 50 people to invest with me into 3 Jupiter's for a total of 1.5TH. There were 3000 shares sold back then so each share currently is worth around 500 MH/s when the Neptune that was paid for this morning will come online each share will be 1500 MH/s with out adding any shares. When the 2nd Neptune is added each share would be 1875 MH/s with adding 1000 shares. As each additional device is rolled into the existing pool the per share MH/s should increase. When another device is added with the reinvestment fund monies the MH/s per share will increase.

I forgot to update with GB5's Neptune numbers, but here you can see the exact math: https://bitcointalk.org/index.php?topic=243092.msg3814908#msg3814908

Is there any reason we're posted over here under good instead of in the group buy forum? We only need ~200 more shares for another Neptune, I suggest we try to get them quick.

We are listed in both: https://bitcointalk.org/index.php?topic=349648.new#new

GB5's Neptune has already been paid for and I haven't been keeping this thread updated all that well, but there are about 60 shares left.

George

Well, don't I look silly.

Thanks George.

 User doctorgig
Transaction ID: 51d730577cdb45f1887677c6ffbb765bf91258a1ffb7c31a45c72dbd4b9fc97c
.63 BTC
35 more shares
Thanks

Still got shares left to buy?

48 shares left.


Got it.

I am interesting to buy few shares are they still available please reply waiting for this

Still waiting for BTC address  :-\

Did you read the OP?

you can check address on OP and then send PM with email address  and txid its all ok for you

Yeah I eventually woke up  ;D

216 shares still left in GB5? (is that information up-to-date)

Sorry dude, I think I just grabbed the last 48, but i'm sure George will confirm.

Hi, GB5 is closed, but shares are available in GB6.

No, I keep the spreadsheet more up to date then here: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c&usp=drive_web#gid=3

It's been a really busy week and I haven't had as much time as I thought I would.

GB5 is sold out and GB6 is open.

When does GB6 expect delivery?

Second that, when will you expect to buy the next machine with our shares, hell I'll buy 2 and see what happens :)

If your doing soon PM me and I'll jump in!

GB6 just started so it might be a little bit before I'll have enough to make a payment.


Q1/Q2 2014 - KnC hasn't updated its shipping schedule yet.


Welcome.


Confirmed.

Will you change btc price for 1 share due to recent price decline of btc? Especially because GB6 just opened it's doors and might take a few days to sell 750 shares.

Just a thought

Yes most likely. I'll give BTC a day or so to go back up before changing the price.

Your Ack Q1/Q2 of next year, these would be worth almost nothing by that point :(

I'd like in on #6 30 shares.
Sending you a pm.

Can you change my share in #6? It actually should be 23 share. Thanks.

Yup done and 642 shares left.

I think there is plenty worth in Q1/Q2 and I would think that KnC will announce a more concrete time frame once they themselves know better. People said the same about Jupiter's now they are selling for 15-20BTC and have already mined quite a bit of BTC and we still have quite a bit to go.

612 shares left.

when Gb6 is going to start and what is price for share I need to invest some btc in this new just because of this want more information about this

Hi,

GB6 is going to start paying dividends when the miner GB6 pays for will start hashing.  Per share price is .018 each. You can do 1 share or 100 and 545 shares left.

George

has the G6 hardware been ordered yet? or do you wait for it to sell all shares then pay?

I wait and 383 shares left.

373 shares left.

Voting system is up, check your email.

352 shares left.

Did not receive any email (yet).

Cheers

Sent. After you bought your shares I forgot to add you to the mailing list. You have gotten your dividends though right?

Yes divs received, otherwise I would have contacter you earlier for sure ;-)

Mail also received now, thanks for your prompt action.

So far around 40 people have voted on the 3 test motions.

A quick explanation if Active, Inactive and Both votes:

The "Test - Active" is for shares that are currently receiving a dividend.

The "Test - Inactive" is for shares that are currently not receiving a dividend.

The "Test - Both" is for both types of shares.

185 shares left.

111 shares left.

105 shares left.

95 shares left.

83 shares left.

is neptune delivery still unclear Q1/Q2 2014?

Yes it is.

Payment for 30 shares sent.

PM with details.

Got it thanks.

25 shares left.

What are we hoping BTC/USD goes up to here?

Waiting on at least $1000 on BitPay. If not by Sat/Sun I'll have to raise the share price :(

George

I am taking 15 shares more, just waiting localbitcoin.com to release my BTC.
I hope it happens today  :-X

Now someone take last 5-10 shares so we get this through before price goes up  :D
And we get the order going to KnC Sweden and to have mining starting Q1/Q2 2014

GB6 is closed. If BTC doesn't go up above $1,000 there might be more shares as I'll have to raise the price per share and do some math. In which everyone would get less shares or a refund.

George

when will you no if there is possibly some more shares?

Whats the deal?

GB6 is closed. I'm working on the structure of GB7+


With Neptunes being 10K again. BTC only has to go to around $760. All weekend it has been around $710-$740 on BitPay. Just waiting at this point.

George

There are 45 shares left and the miner has been paid for: https://bitpay.com/invoice?id=D9Dwo86bohtxt44u6K3Qdj

George

can i get 10 shares? pm me. i would like to pay in cash. no sense investing my bitcoin to get bitcoin. let me get rid of this useless fiat :D

if you still have them I will take 10 shares

23 Shares left.

I've gotten a ton of emails and PM's please excuse me if I don't answer. I've been really busy. New funds are on their way, still working on things.

I want to buy 13 shares, can pay with credit card.

Thanks

Sent a PM. I'll take 10 shares in USD

2 shares left. No USD at this point. First person to pay gets them: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

George

Can you confirm you've still got the 2 shares... Don't want to send the BTC and you've already sold them.

GB6 is closed. I'll be announcing new funds today.

New funds are up: https://bitcointalk.org/index.php?topic=399449

Some news?

Not that I'm aware. Anyone heard anything?

no most enjoying weekend and have no time for hearing any thing right now

I was talking about the arrival Neptunes.

Well KnC's site shows an updated shipping ETA: "Shipment begins in Q2 of 2014"

Hopefully our earlier orders will ship before that as the above shipping ETA is posted on the Second Neptune batch: https://www.kncminer.com/products/neptune-second-batch

Which really is the 3rd batch IMO. Since the pre-public was the real first batch then the public $13K and now they are $10K again.

George

Is our order "pre-public" or "1st batch"?

Re-investment and GB4 was Pre-public aka Batch 1
GB5 Batch 2
GB6 Batch 3

https://bitcointalk.org/index.php?topic=348957.0

Is there like a main thread for all the coop members can talk in one place since we are all kinda in this together even if we bought into diffrent group buys.

FYI:  Really appreciate the update email.  It's nice to hear from the coop leaders from time to time with what's going on.  That's great news about the potential hash rate the Neptunes might be capable of.  3.8-5.1 THs   NICE!!!

Any shares left? Will there be a GB 7?

Have you received GB4 hardware yet?

So George, you probably dont know when GB6 is going to and in your lap do ya?

Thanks!

Not really, but I would use: https://bitcointalk.org/index.php?topic=336900.0;all


No and no.



No new updates since: https://www.kncminer.com/news/news-78

Q2 is here and I'm anxiously awaiting the arrivals of all the units.

NEWS FROM KNC!!!

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

Im sure if alot would have known they would have bought the Jupiters back in Dec-Jan, alot of coins by now

https://www.kncminer.com/news/news-87

this seems awsome! Can't wait for our Neptunes.

Seems nice, but reality is August is a BTC difficulty lifetime away, so doubt it will make much of a dent in the return on investment model. Black Arrow are shipping imminently and giving their pre-order customers a 50% free boost in next few days!! Having said that they didn't HAVE to do anything, so Kudos to Knc for being customer centric.

agreeded with your august is a long time away, but the difficulty has slowed, so it is a pretty good bump...

George will you have enough room?

Nice!


I think that's why they did that.


Yeah I should we have plenty of fore warning. I believe this means an extra 4 Neptune's. Doubling our power requirements. I found out yesterday that the hosting place we have been working with doesn't have enough capacity to even host the first 4 Neptune's back to working on another plan.

Any update on the Plan?

Ditto that, this GB seems to drag on and on and on and...

I have to say that I just don't see how these things are EVER going to pay off guys.  There's a reason most of the other big GBs refunded.  It's disheartening so few shareholders voted in the poll to decide to keep or sell.  If we had refunded we could have potentially bought into some of the other hardware that is actually available and been hashing.  And with the second Neptune not delivered until August (and I can only hope the FIRST Neptune comes before then) it makes this an even worse equation. 

It's not too late for another refund vote. The delays are becoming significant, and trust is evaporating fast. George???

Who is the trust evaporating in? Not George... and so far KNC is been pretty damn good...

no not George, in KNC, saying they are "pretty damn good" is a stretch IMHO, because the facts on the ground are they have not delivered yet, and we have no idea really when we are going to see kit. Other KNC group buys have taken refunds, and I think we should be reconsidering also.

Edit: Of course if you are still a strong believer, your welcome to buy my 75 shares?

George is great.  KNC was good until this, now they've lost me.  I just hope people can look at this with an honest view of the finances of the situation and realize how badly this is going to work out in a dollars/BTC equation.  I get that isn't everyone's ballgame but it has to at least be a part of it.

Thank you all for the kind words. I'll put up another vote and re-do the numbers. Remember they did double our orders for free as a result of the delays and they are working with 20nm tech which is fairly new. As well as we are about a month away from them being officially late.

Thanks George, the problem is purely a math one, doesn't really matter if they are officially late or not, it's looking increasingly unlikely (with difficulty rises)  we will even get our money back let alone make a return on investment. The doubling of kit in August is a relatively meaningless gesture. The Black Arrow bunch have also failed just as miserably, their kit was 50% more bang than neptunes at lower price, and they are also giving an immediate 50% increase in kit, but even that math doesnt work, people are taking their refunds in droves.

Anything? :-\

George,
Any update on deliverly? Did you get some Neptunes yesterday?

Yes 1 Neptune arrived and is hashing around 3.1TH/s and another Neptune shipped today.

Nice!

Hi George,

Is my math wrong on the dividends? How many shares were sold for GB4 and GB5? I thought it was only 1000 each.

The spreadsheet shows 3000 shares per group buy.

Thanks,
ipxtreme

It was 1000 per GB4, 5 and 6 can you point me to where it show 3000 per?

George

https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c&usp=drive_web#gid=7

Shareholders tab. It shows 4000. I may be wrong. Thx!

That is total shares. So 3000 for GB1-3 and now 1000 each for 4, 5 & 6. As each GBs Neptune arrives 1000 more shares are added to the pool for a total of 6000 between GBs 1-6.

George

Whats going on with this Coop??  Any news???

George, any news?

We are in 2015, I need hear about you guys. How is going?  :)

Hey Guys and Gals,

Sorry for no update lately. Anyhow I've had to turn off everything as it became a cost to run it.

Also some of you noticed that payouts haven't really been that regular, well I've switched to doing them once a month and in January there wasn't enough mined to pay for the electric and rent. I will have to dip in the savings to pay for that.

It's on my to do list to go month by month and update everything.

George

Good god we got screwed.  Not by George, but by not taking the refunds.  I wish like hell you guys hadn't been so stubborn who refused to get the refund.

Is there even any money to be made selling the equipment?

I'm looking into selling everything. At best we might get 1K for per neptune.

Didn't an email go out saying something about all of the related products (neptunes, shelves, electrical stuff, etc) potentially going for north of 30 BTC? Anyways, suppose we'll have to be happy with what we can get out of this fire sale. I guess the next question is, what stage through the attempted sales process are we at this point?

How many neptunes are you selling?

Combining the Neptunes w/ the other related products being sold leading to the 30+ coinage range makes me wonder if the deal fell through or if, weeks later, the total ask has went down quite a bit. Hope to get an answer sooner and that things are going well for liquidation. It seems like we're at the point of taking a fair price and just getting rid of the non-producing mechanisms and just settling the score once and for all. I'll just leave it at that for now. George, you're up.

New auction up: https://bitcointalk.org/index.php?topic=1000928

It's been a long time but is there a list of the shareholders or a proportion of the total shares to the potential selling price?