Title: [CLOSED] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 19, 2014, 09:39:30 PM Welcome to Felipeo and pajak666 KnC Titan - 100 Mh/s LTC Miner group buy
Status updates: 19-03-2014[21:35:00 CET] - Start of this group buy 1. Why a Group Buy? According to KnC newsletter announcement: Quote All OK, so the day is finally here. We can now officially launch our first product dedicated to scrypt mining. The Scrypt mining market has grown over the last 6 months and we have been watching it very closely. The time is now right for the launch of our new offering. The device is being called Titan and is available here. The same team and partners have been working together again. With their expertise and speed we expect to ship titan before the competition and have a product that outperforms their offerings. The details of the device we can reveal today are as follows: - Minimum 100/MH/s of performance. (likely to increase as we get further down the development path) - Uses a Standard ATX power supply (customer supplied ATX). - Based on the existing Jupiter form factor but will have blades containing numerous chips inside. - Shipment begins in Q2/Q3 of 2014. We will keep you all updated as the development progresses. For those of you wanting to convert an existing Neptune order to a titan order please contact customer service for assistance. as for other news, We passed a huge milestone in the progress of Neptune last month when we passed the "tape out" stage of the production. We are now in the foundry stage and as soon as the chips arrive we will let you all know. More info about the tape out is available here. Thanks KnCMiner Team KnC will prepare Titan to send 06-09.2014 and we want to give the opportunity to participate all kind of miners especially with smaller crypto-wallets. 2. Whats terms of group buy? Standard GB procedure - see point 12.A Participants will be able to buy shares, one share will be 1% of delivered by KnC hashing power (less hosting fee). 3. Remainder Only send payments from an address you control (i.e. you can sign with it). If you send from exchanges, you risk loosing your funds since you can't prove you sent them. If you bought shares pay attention that your address is in the list that shows the payments with the correct amount of shares. If something looks wrong you need to proof that you are the owner of that address. You have to be able to sign a message with your sending address to proof that you are the owner off that address (see 13.B). The wallet Multibit cant sign messages. In case you did an error there it should be possible to import your addresses into a wallet that can sign messages and then sign a message with your sending address. 4. Order Status *Will be announced here* 5. Refunds Your orders are binding after your funds have been used to pay for a unit. Before that (while coins are piling up for the next device), you can demand for a refund and will get it paid back in full. In case KnC stops selling units all collected bitcoins will be transferred back to the sender. 6. Where you from? We located in Szczecin - Poland, not far from Berlin and on other site of Baltic sea to Sweden. 7. Who are we? We are Polish private entrepreneur. I run my own registered IT company - FPITM since 2012. If you want proof of my or my company identity i can provide all document you need. FPITM is also part of Cryptopol, and we are responsible for Bi•Fury | 5 GH/s USB Miner (https://bitcointalk.org/index.php?topic=309918.msg3327130#msg3327130) production and sale on our online shop cryptostore.io (http://cryptostore.io) We also run successful BitFury hosting offer (https://bitcointalk.org/index.php?topic=254929.msg2714038#msg2714038) in our BITfarm mining operation. 8. The device details from KnC homepage: https://i.imgur.com/eVTAGLX.png 9. Pricing Today (19.03.2014) device price was 16.63 BTC with delivery, we count it like 17 BTC (because price fluctuations and additional connecting cost, but all transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders). A: For all our HOSTING service we asking for a 12% of hashing power. All transaction will be collect in BTC 1 share will be 1% of device hashing power with price 0.17 BTC. B: In the case that the shipment from KnC will be stopped by customs and a fee has to be paid to get it back, all investors pay the needed fee to free the devices according to the amount shares a buyer owns. No additional fee is taken for this(i never pay any customs inside EU, but i want to have this statement here to be sure you understand some risk). C: Titan devices will expand our BITfarm Mining Operation and we will mine 24/7 like now, when mining will be not profitable anymore, we will attempt to sell the miners or find another use for them. Any proceeds thereof will be distributed as dividend. We believe the gear should be able to run 24 months, but since there are no working devices yet we simply don’t know. In case of hardware failure we will try to repair or replace the machine. Any costs involved will be deducted from payment as costs. D: Dividends Dividends will be paid to address which has been used to pay for shares, if you wish to change payout address please send signed message(see point 12B). Payouts will take pool we use with share auto split (or we do it other way, max double week pay outs). Statements will available in created online sheet for investors. Power rate in Poland is 0.19$/ kWh All transactions and orders will be transparent. 10. Reservation No reservations. If you pay and give me the details you are in. Reservations wouldn't be fair against the others. And as long as its possible to order devices we will order next everytime. The blockchain is the indisputable proof of your payment. 11. Ordering A: This is a preorder hosting offer lead time of 3+ month in the current sentiment takes ages. We can right now observe the dramatic exchange rate fluctuations, and we might also see some of the competing LTC ASIC manufacturers succeed and flood the market with cheaper solutions. Before you order, please do your risk analysis. We just don't take responsibility of KnC missed they delivery or device spec. B: If you still want to buy and are fine with the above pricing model, then you will have to participate in the risk and pay your order upfront. If you understood the risk-factors you should clearly understand why we can't afford to charge you in 3 month. C: There is one common payment address per device/100 shares. The actual address is: Only send from an address you can sign a message with. Otherwise a dispute cant be won. How to sign/verify messages?. Why verify messages? In case another person claims that your payment is his payment you have to be able to prove that the address you sent from is yours. Make sure you copied the correct address before clicking on send. Compare first, last and some middle digits of the copied address to prevent errors. 12. To buy A: select your number of share N in steps of 1, starting from one, with 100 shares per device, we have 15 devices in order queue(all below #15700) and will order next one if will be demand and KnC will take more orders. send the total amount (C = N * 0.17) -> BTC) to the given address post or PM (if you want to stay anonymous) me your order in the following format: Quote <payment time>; <forum nick>; <N>; <C>; <sending address> ensure the sending address is under your control, so you can sign with it in case of disputes. How to sign/verify messages?.if your wallet application does not let you select the sending address and sends from multiple, please post only one of them (and keep the address for a while) Sign your username as message when you will be asked for it(see point 12B). B: SIGNING/VERIFYING
Code: This rectangle is a code-tag created with the hash-button above
C: The buying window opens now and doesn't have an end as of now. D: Number of ordered device will able with demand and KnC ordering capabilities. The coins moved to the next orders can be refunded of course if the buyer doesn't want to wait for the other . 13. Confirmation of order No personal confirmation will be given. If you want to check wait for the next list with orders and search your address. If somethings not right contact me. Remember that list is final confirmation. We will also prepare online sheet available for investors with all calculation. 14. Escrow This is a preorder and we need to pay for orders, so escrow will be huge hassle and loose of time. We are verified sellers and run on line store with thousand succeed orders from clients allover the world. You can be sure your Bitcoins will used only for pay for KnC devices or will be refunded. 15. Communication I live in CET Timezone. Ill try to communicate as fast as possible. Please use PM for first communication. Of course i don't have time everytime. Please be patient when im not around for some time. Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 19, 2014, 10:23:47 PM Reserved
Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: pajak666 on March 19, 2014, 10:25:19 PM Continuation of ourprevious GB with hosting.
https://bitcointalk.org/index.php?topic=254929.msg2714038#msg2714038 Running for over 7 months Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: vleroybrown on March 20, 2014, 12:12:00 AM Wont KNC be offering hosted hashes like cex.io in the massive DataCenter they are building?
http://www.datacenterknowledge.com/archives/2014/02/06/bitcoin-miners-building-10-megawatt-data-center-sweden/ Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: medicine on March 20, 2014, 07:24:41 AM Sounds cool. I am interested. How long will you continue to host the rigs after delivery? I assume your hosting service covers the electricity costs?
I will PM later when I'm off work. Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: jk_14 on March 20, 2014, 09:09:29 AM Hi,
Do you plan to host only one Titan or more? (in case of success this GB) (I understand that VAT refund issue is on your company side) Regards JK (Jeden Krajan :) ) Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 09:27:13 AM Wont KNC be offering hosted hashes like cex.io in the massive DataCenter they are building? http://www.datacenterknowledge.com/archives/2014/02/06/bitcoin-miners-building-10-megawatt-data-center-sweden/ We don't know (they don't inform about hosting possibility). Like I write in OP we run mining operation with hosting and want expand it by scrypt devices - KnC looks most promising on market right now Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 09:37:26 AM Sounds cool. I am interested. How long will you continue to host the rigs after delivery? I assume your hosting service covers the electricity costs? I will PM later when I'm off work. Quote 9. Pricing ... C: Titan devices will expand our BITfarm Mining Operation and we will mine 24/7 like now, when mining will be not profitable anymore, we will attempt to sell the miners or find another use for them. Any proceeds thereof will be distributed as dividend. We believe the gear should be able to run 24 months, but since there are no working devices yet we simply don’t know. In case of hardware failure we will try to repair or replace the machine. Any costs involved will be deducted from payment as costs. Like in OP - 24 month or when mining will be not profitable anymore. Yes, our hosting services covers all costs ( electricity, up link and maintenance) Device will be just plug, in our stable running infrastructure with UPS and fail over link. Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 09:43:42 AM Hi, Do you plan to host only one Titan or more? (in case of success this GB) (I understand that VAT refund issue is on your company side) Regards JK (Jeden Krajan :) ) We will host that much devices as much interest we have (for now we have 15 devices preordered) Yes, I forget mention about VAT (thanks for reminder). Because we are registered EU company mentioned device cost is final (VAT is included) Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: jk_14 on March 20, 2014, 09:49:17 AM We will host that much devices as much interest we have (for now we have 15 devices preordered) Yes, I forget mention about VAT (thanks for reminder). Because we are registered EU company mentioned device cost is final (VAT is included) ok, and what scrypt coin will be mined (always LTC or best profit) and where ? Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: medicine on March 20, 2014, 09:51:26 AM ah you already ordered 15 devices? And the shares you are selling are for those devices? Or will you be ordering more units as you sell shares?
Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 10:37:21 AM We will host that much devices as much interest we have (for now we have 15 devices preordered) Yes, I forget mention about VAT (thanks for reminder). Because we are registered EU company mentioned device cost is final (VAT is included) ok, and what scrypt coin will be mined (always LTC or best profit) and where ? Best profit -> LTC, Where -> will be announced for investors (poll with auto income split by shares) Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 10:39:50 AM ah you already ordered 15 devices? And the shares you are selling are for those devices? Or will you be ordering more units as you sell shares? We ordered more that 15 (that more was already paid) This GB 15 devices left for pay by the investors Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: medicine on March 20, 2014, 11:51:12 AM ah you already ordered 15 devices? And the shares you are selling are for those devices? Or will you be ordering more units as you sell shares? We ordered more that 15 (that more was already payed) This GB 15 devices left for pay by the investors Thanks Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: whoiis on March 20, 2014, 05:38:49 PM So fees are 12% plus power costs?
Any other costs? PS. Where can I see how many shares were bought? Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: rozey on March 20, 2014, 06:15:08 PM So fees are 12% plus power costs? Any other costs? PS. Where can I see how many shares were bought? This does seem a bit expensive if I must be honest. 12% hosting fee, 2,2% markup on the starting price (16,63 compared to 17 btc) AND $0,19/kWh. Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 07:12:26 PM ah you already ordered 15 devices? And the shares you are selling are for those devices? Or will you be ordering more units as you sell shares? We ordered more that 15 (that more was already payed) This GB 15 devices left for pay by the investors Thanks Sorry for misunderstanding. 15 devices for this GB was already ordered but not paid, orders wait for investors pay for shares and then we will pay for made orders. Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 20, 2014, 07:30:48 PM So fees are 12% plus power costs? Any other costs? PS. Where can I see how many shares were bought? This does seem a bit expensive if I must be honest. 12% hosting fee, 2,2% markup on the starting price (16,63 compared to 17 btc) AND $0,19/kWh. All this information are in OP, pleas read carefully and with understanding : Quote 9. Pricing Today (19.03.2014) device price was 16.63 BTC with delivery, we count it like 17 BTC (because price fluctuations and additional connecting cost, but all transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders). A: For all our HOSTING service we asking for a 12% of hashing power. 12% of hash power are final HOSTING cost. This "2,2% markup" are only to cleaning the transaction for shares and like we statement in OP : Quote All transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders. Because BTC price are going down right now doubtless we will must pay more BTC for the devices from our pocket, and we will take this differences from first dividends. Some body think this is not fair? Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: whoiis on March 21, 2014, 04:02:37 AM So fees are 12% plus power costs? Any other costs? PS. Where can I see how many shares were bought? This does seem a bit expensive if I must be honest. 12% hosting fee, 2,2% markup on the starting price (16,63 compared to 17 btc) AND $0,19/kWh. All this information are in OP, pleas read carefully and with understanding : Quote 9. Pricing Today (19.03.2014) device price was 16.63 BTC with delivery, we count it like 17 BTC (because price fluctuations and additional connecting cost, but all transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders). A: For all our HOSTING service we asking for a 12% of hashing power. 12% of hash power are final HOSTING cost. This "2,2% markup" are only to cleaning the transaction for shares and like we statement in OP : Quote All transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders. Because BTC price are going down right now doubtless we will must pay more BTC for the devices from our pocket, and we will take this differences from first dividends. Some body think this is not fair? Please be more specific. Can you provide proof of purchase for the 15 you ordered? PS. Don't get me wrong, I want to join your GB, but want to have laid out all costs/fees etc beforehand Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: Felipeo on March 21, 2014, 03:00:22 PM So the 12% cover electricity? Please be more specific. Can you provide proof of purchase for the 15 you ordered? PS. Don't get me wrong, I want to join your GB, but want to have laid out all costs/fees etc beforehand No problem ;) more question means more understanding for every body but... I answer this question already :) : ... Yes, our hosting services covers all costs ( electricity, up link and maintenance) Device will be just plug, in our stable running infrastructure with UPS and fail over link. https://i.imgur.com/Ok4HJ2D.png 3 orders for 5 devices per order, are waiting for investors :) Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: LDR on March 21, 2014, 11:00:01 PM A couple of things:
No one in their right mind will buy shares in this because you are killing ROI potential in every stage: only litecoin, ridiculous fees and no ownership. Its been a couple of days and it seems like you haven't sold any shares, do you have any plans to change fee or ownership structure? Title: Re: [GroupBuy/Hosting] [EU-PL] KnC Titan - 100 Mh/s LTC Miner (100 shares per unit) Post by: vleroybrown on March 22, 2014, 03:15:56 PM A couple of things:
No one in their right mind will buy shares in this because you are killing ROI potential in every stage: only litecoin, ridiculous fees and no ownership. Its been a couple of days and it seems like you haven't sold any shares, do you have any plans to change fee or ownership structure? lol negotiable |