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1561  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 23, 2013, 04:10:50 PM
What about this meth dealer buying a shitload of mining rigs, then setting up a lovely cloudhashing sideline? The fees would be clean money from clients. He could also BE his own fake clients or at least mine for himself. He could also set it up somewhere safe from interference in a country where the agencies likely to be on his case have no powers.

As for tracing BTC, go on then..someone tell me how much I have in my wallets or where it/they are? I doubt that will be easy.
I don't have the resources of law enforcement. If I did, I think the process would be trivial.



Nor do they. Maybe in the case of some very large important criminal or terrorist they'd find the money to afford it, but as a routine everyday thing ...they can't afford to chase basic bank accounts and all the other places people hide money never mind bitcoins which they may not even have heard of and probably have very little knowledge of.

Life isn't hollywood full of super cops backed by goth girls who can perform technical miracles in five minutes...it's fat 9 to 5 cops who cant find the hoody who nicked your bike most of the time.
1562  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 23, 2013, 03:03:29 PM
Perhaps a better example is in order.

Imagine you are a meth dealer from new mexico. You have $250,000 cash. You use that cash to buy mining equipment, which earns you $250,000 worth of bitcoins.

Can you now go to a car dealership and buy a new ford mustang? Can you buy a house? No, because now instead of being a meth dealer with $250,000 cash, you are a meth dealer with $250,000 of bitcoins. I don't see any problems solved here, except for the fact that the bitcoins are a lot harder to take away.

Oh and I don't think the police would bother with IP addresses and the like, they will just catch you selling meth, see that you had no legal source of money to buy the mining equipment, and take that, and anything you would have bought with the bitcoins.

What about this meth dealer buying a shitload of mining rigs, then setting up a lovely cloudhashing sideline? The fees would be clean money from clients. He could also BE his own fake clients or at least mine for himself. He could also set it up somewhere safe from interference in a country where the agencies likely to be on his case have no powers.

As for tracing BTC, go on then..someone tell me how much I have in my wallets or where it/they are? I doubt that will be easy.

1563  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 23, 2013, 07:21:48 AM
A little off topic but I wonder what you make of this someone just posted on another thread? Seems a little too good to be true to me, but if it's genuine ...

http://www.amazon.com/Inverter-installs-minutes-Inverter-Breakthough/dp/B00BSFJMCI/ref=sr_1_1?ie=UTF8&qid=1377240120&sr=8-1&keywords=solar+panel+plugin

1564  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 23, 2013, 12:24:38 AM
It's like, oh my God, what if it's raining in Sweden on a Friday and one of the shipping clerks has an accident on the way to work and doesn't get there until two hours late and the pickup van shows up just before they start to put my order in a box and it doesn't go out until Monday, and then on Monday what if the power goes out in all of Europe and when it comes back on nobody notices my order sitting on a conveyor belt and what if someone pushes the go button and my order slips out of sight and they misplace the paperwork and never ship my order until it gets found on Wednesday.  Oh.  My.  God...

..and then the couriers get it to juggle with and load into vans with a trebuchet. There's my main fear.
1565  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 23, 2013, 12:03:34 AM
 
has anybody actually received and orders?
If you were here, I'd have you tarred & feathered.   Shocked


lmfao

As for the debate about ASICs streaming online and BTC prices dropping because of it....the people who are buying now are doing so with an eye to their purchases breaking even or in the case of some older orders from other companies...making a pretty good profit...this will change and indeed has changed when you consider all the people refused refunds (elsewhere) who no longer want to be in the game now there's nothing in it anymore.
Less people with better kit, that seems likely to me. Not thousands more diving into mining for a possible loss.

I remember KnC mentioning litecoins, maybe that will one of their future projects? Once this game gets too much for private buyers.
1566  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 22, 2013, 08:35:19 PM
That went by quietly (with less comment than the ignore being yellow on members posts), them saying they're going to sell modules for us to upgrade ourselves?
That's exactly what I assumed they meant to happen when I saw the original design but it was never officially mentioned.
That's great news, especially if prices drop and you have room for some ..or even if a gen 2 module can be used if and when they exist.
1567  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 22, 2013, 11:05:17 AM
delivery date. Grin

I was given quite a specific estimated delivery date for the 1st shipment, so maybe he got it too Tongue

1st or 2nd half of month/s? That would be nice to know. Smiley

1568  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 22, 2013, 09:01:38 AM
Good news from the Volvo of the ASIC world. Smiley
Nice to see them still talking about the next gen too.

1569  Bitcoin / Hardware / Re: HashFast launches sales of the Baby Jet on: August 21, 2013, 08:36:21 AM
"The results of our mock tapeout are due back any minute now and so far it all looks good." ?

So why not wait an hour, get the results and publish them?
1570  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 08:01:16 PM
I am personally are very suspicious of their activities, however that is just my opinion.

You are not alone.

You aren't a customer or likely to be one either. So why even be here?
I could give a shit about any of this now, I did my DD and made a decision long ago. Same applies to most people.
Of course you can always wait until ASICs turn up on a shelf in a local shop and are no risk at all to buy...good luck with that.

How the hell it's fair to pile the shit that BFL created onto another company because they are in the same business..that's beyond me.
There again, so was a couple of pages of people arguing with graphics about a bloody ignore colour?

On the subject of bullshitters, didn't you promise to bugger off a couple of week ago Mr Croppo ?
1571  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 02:18:35 PM
which figure will be higher on shipment day 1 ?


a) jupiter final hashing power (in GH/s)

b) pages of this thread



i donīt get it why the most serious asic company gets the the harshest criticism. 336 pages. wow. how many pages of hatred would one expect towards bfl or avalon - companies that really kicked their customers in the dirt - must be thousands of pages. but i canīt find them. all the haters jump on knc. but why ? fear ?

guys, even phinnaeus gage calmed down, why donīt you ?



edit: wtf avalon ? ship the chips !-thread: started 29th of july; 22 pages so far. https://bitcointalk.org/index.php?topic=264098.0

this knc thread between 29th of july and today: 111 pages



 

Amen.

Takes my breath away seeing how people hold BFL up as some kind of example here.
1572  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 10:43:31 AM
The only question we are concern are the chip production status? Has they already done with the Mask and Wafer??

They themselves also can't seem to answer that questions. Many forum members couldn't be bother, may be they are very rich and couldn't even bother with the difficulty going up daily?

Where are the parts for the miner? is it already in Sweden?

A lot of questions yet to be answer. If they can't deliver by September 2013, they are no better than Butterfly or Avalon sorry to say.

Where are the chips?

The first question was answered. By KnC.
Who cares if the parts are in Sweden? Are they being assembled in Sweden?
KnC have already said they are aware of the difficulty rises and that's why the discount in Nov. They may have other reasons too but that's definitely a part of it.
FFS ..they could delay a year and still be better than BFL ...or have people forgotten that they haven't yet delivered orders from over a year ago and are a) selling chips b) promising a Dec delivery for a new product that will drive a 6 inch nail through their own customers hopes of any returns from their very very late deivered rigs. (Many of which seem not to be hashing because they are breaking like plates at a greek wedding). Oh and the disrespect they show to customers is something else.

Coming here to criticise KnC who have yet to miss a deadline quoting BFL in comparison is laughable.

KnC can answer your questions, but only if you pick up a phone and ask them or email them. They have done so several times. Try that?
1573  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 09:06:50 AM
I'm a little lost: have KnC demonstrated working prototypes? Proof of design/chip production? Anything other than a case rendering and website for preorders? At the moment, seems as though they have less credibility than BFL - at least they've shipped something.

Maybe read the thread, or at least the KnC news on their site.
BFL ? KnC will have to keep us waiting for a year from now to get close to them.
There is a KnC post a few pages back, states that they have one main goal...to deliver ASAP and not get into anything that's not needed that may delay that.
The day they have a working prototype will be the day they ship. They skipped that stage to make sure we get something worth having with the steep increase in difficulty. They could wait, add a month to the process and then we'd be dealing with the estimated December delivery of those 2TH Cointerra rigs and god knows what else ...and struggling to break even.
Anyone who waited a year or more for a rig from BFL won't see it return their investment now...KnC are attempting to avoid that situation.
People have spoken to them in person and on the phone, visited them, had replies to questions via email and phone.
Oh..and people have asked for refunds and got them.

You're not lost, you just need to read what's here and maybe email them if you have a question.
1574  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 06:36:48 AM
Here you go AC find a thread on this, just got it in email. Very little info for your 15k there.
http://order.cointerra.com/

December...a little breathing room for us even if they are on schedule.
1575  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 20, 2013, 06:09:06 AM
They won't release actual power consumption until it can actually be measured.

All in due time...

I agree with your logic. That is why I think KnCminer should not promisse to publish information about a product which still do not exist. This only shows they were being deceptive when they stated there would be a soon annoucement about the PSU. If they want at least a prototype to sort out the best PSU for their design, they should state that in advance.

They haven't published specs on things that don't exist, they have published the specs they have designed it to be. How is it deceptive when we ALL knew from the get go that it didn't exist and their description and estimates were all we'd get until they had production up and running for the actual parts?

They are hosting these rigs, and mining themselves...so they are in the same boat as all of us re power supplies. I don't care when they tell me which they recommend, as long as it's possible to get one before my rig arrives. Their constant statements about getting rigs hashing ASAP being their main goal can be woven into most aspects of all this by a sentient being to arrive at a sensible conclusion. For example all this crap about racks and power supplies...what do people think KnC are going to do, design a rig that's going to be a bitch in their own hosting facility?
 

KnC have told me all I need to know for now. Other helpful people have added to that by visiting and publishing email replies.
You've added nothing at all to speak of.
1576  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 19, 2013, 07:16:11 PM
Just saying, it's better for us. But the people that aren't spending the time learning the command line and cgminer, we are going to end up having to walk them through sshing in the device at some point.

Yeah, I'm sure KnC planned on relying on you for that.  Cheesy
1577  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 19, 2013, 11:26:02 AM
Roi should only be considered in terms of btc. If you bought a Jupititer when bitcoins were $70, you will most likely never make your hundred bitcojns back. What does it matter if bitcoins go to $1000? You would have had $70,000 if you hadn't bought the Jupiter, butif it only mines 50 btc then you have lost.
No. Only the price of Bitcoins at the time you buy the miner matters. Future changes in the price of Bitcoins more or less cancels out. The cost, in Bitcoins, of a particular piece of mining hardware is dependent on the price of Bitcoins. But after that, the Bitcoins mined can be compared to the cost of the miner in Bitcoins without regard for the future price of Bitcoins.

If I'm considering buying a piece of mining hardware that will cost me 50 Bitcoins today and can be expected to mine 70 Bitcoins over the next year, then it's probably a pretty good deal. The higher the price of Bitcoins, in fact, the better off I am with the miner because the lower, proportionately to the reward, the cost of electricity.

It's always seemed odd to me that many calculators don't show estimated BTC mined.
1578  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 19, 2013, 11:22:41 AM
I'm asking myself what's the point of being an entrepreneur if the ROI is guaranteed by someone else.

The entrepreneur is commonly seen as an innovator of new ideas, and business processes. Which would make someone manufacturing cutting edge rigs one or someone offering hosting possibly, we're mostly just customers doing what tens of thousands of others are doing.
I'd say speculator fits better here.
People love to pin that badge on themselves, entrepreneur...never understood why.
1579  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 19, 2013, 09:39:18 AM
Email today from customerservice@kncminer.com

KnCMiner will not be offering a ROI guarantee.

Regards,
Liam


They simply cant on OCT/NOV devices!
But If they ship at time, they can for the early ones Wink

If they do they are fools. They can't predict the exchange rate for BTC ..if it dropped massively like it did not long ago there goes the ROI doesn't it?
Big difference between 118 where we were last time I looked today and 80 where it was a while ago.
Doesn't matter when they ship if the price falls radically.

On the other hand, they could say that we'll all get ROI EVENTUALLY banking on the large rise in BTC price over a year or more that many of us think/hope will happen. Mining at a loss in the short term may prove to be worth it long term. I think most of us hope so if we hang onto our BTC.
1580  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 19, 2013, 09:33:34 AM
I'm still waiting for October to sell out, so I could buy a November unit at a cheaper price.
You realize that an extra month of mining is worth more than the price difference?


ROTFLMAO.

How early in October do you think you could get a unit at this time? I am guessing that you would be cutting it close to November if you order now. Let's say you buy a Jupiter and get a October 25th date. You would never get ROI according to http://mining.thegenesisblock.com/

All the better though. It is honestly better for them to sell out closer to November and not have to pre-order so soon. It is better to get it delivered as soon as you order, so, with luck, they will never sell out of October, and I could order it in November and get it in November.

That calculator shows you a different set of results from day to day as the % increase in difficulty is altered ... and that number has been up and down like a bride's nightie for weeks now. Fact is, no-one really knows what it will be in a few months so it's a guess.
The power consumption and performance may be pessimistic too if KnC are to be believed. Assuming they are in the right ballpark with delivery in October then at least it's whole months from around this date because you'd hope that rigs could be arriving in the last third of October ?

November does look grim if we're looking at that as a delivery date. KnC said they'd reduced the price from then because of the increasing difficulty rate..although it was also related to competition...if they didn't who would buy knowing they'd never break even?

If you run a few other companies rigs through it...it produces a horror story in many cases. KnC is definitely a better option than most.
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