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1641  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 25, 2013, 08:53:02 AM
Two things I'd like more info on. October...which end of it?  Next gen..stats and prices they have as targets.
We can't do much about hashrates and all that side of things now, but we can plan for the future better with some basic info.

I also wonder if them talking about a LTC rig may be their backdoor out if things get too much in BTC..sensible way to go possibly.
1642  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 24, 2013, 09:11:46 AM

that was a different landscape like you described in where the only big piles of btc where with those old timers who already had their ROI x1000 so they could hold.   Now you have this other wave of chip makers & group buyers that took btc (not all , but plenty) that have to do a force exchange to pay fabs, etc to keep their deadlines. and then the second gothca is that many of the ASIC miners are going to need to get their ROI ASAP since they spent so much this turn.. the old prisoner's dilemma - since you have fewer people with larger piles which kill the bid in the exchanges will force each one to act before the other.

having more ways to use btc and also keeping it in its own ecosystem will counter act it.  having the winkles try to dump on that ETF idea and more and more heat on SR won't help btc..

just many more weights to the downside in the next 6-8 months

Many of the ASIC makers used services that converted BTC to USD right away, they probably sold everything they needed to immediately. The rest is profit, along with may small costs to pay employees, etc. Any selling due to ASIC purchases has probably already happened.

This time round it has, but this cycle is going to repeat with each batch of new gen gear isn't it?
Maybe next time round though, more people will be paying with mined BTC from their last ASIC ?
It's an interesting thought how these cycles will change the price of BTC for a while, and how predictable they will be?
IF several large batches from decent suppliers are announced around the same time for example...can we say that their BTC converting to pay for supplies and overhead will drop the price and cause the type of dip we've seen already?

I used to read Sherlock Holmes for a mystery to solve...who needs him anymore with this to work out eh? Smiley
1643  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 23, 2013, 10:29:09 PM
A bit disappointed that they're asking for the hosting $$$ up front. I thought it would be on a month-to-month basis. Anyone else disappointed?

Nope - doesn't bother me at all. It'll be painful for them to chase after people that don't pay their month to month hosting and then they have to be concerned about shutting off customers who just forgot to pay a bill.

I'm all for paying up front.

That could be remedied by not returning the miner to the customer until balance is paid in full, or implementing late fees and service disconnection. I don't think that's too difficult to do. If people are getting ROI, I don't see why customers wouldn't pay the monthly fee to continue to get even more ROI.

To me it looks like you pay a premium to start mining in September.  But unless BTC is $150 or higher, its just gonna kill profitability on these with the insane rate of difficulty...I guess so long as you're mining btc, you could just look at it as a deferred ROI if btc doesn't hit or exceed $150 for another 6 months..

If you order today, and then order hosting, you'd still be waiting in line until all orders before you - hosting or not - get shipped or put into hosting. So, it does not necessarily mean that you'll be able to cut the line and guarantee September mining start date. The only premium/time you save is the time it takes to ship/get through customs. Someone confirm?

Absolutely!
You get the miner based on when you ordered.
When you take hosting it means they put it online that day... the day your order comes from the factory... not 1 day sooner...
Well, actually when you paid your order! (although there are some exceptions to this)

Sorry - I was referring to those who preordered/paid and have the best possibility of making the highest return.  If you are in that position and DONT choose hosting, you could be forfeiting a substantial portion of your ROI, depending on the length of time it takes to receive the shipment - at least according to http://mining.thegenesisblock.com

When I paid it added 90 dollars for NEXT DAY delivery. I can wait a day. Smiley
People are so keen to get involved in pre-ordering stuff they maybe miss the obvious normal stuff?
When a machine is built and ready, I expect it to be either shipped next day to the buyer, or taken to a hosting facility ...which isn't going to be instant unless they also built a teleporter is it? They'll need to get it there, set it up, (along with many many others in the same situation) etc. ..so maybe if it's busy one that's sent to a buyer with only his own machine to worry about getting online will be hashing earlier?
1644  Bitcoin / Hardware / Re: Network Protection statement from KNCMiner on: July 23, 2013, 05:22:22 AM
What if...they aren't selling any boxes until March because the next gen will be off the shelf having been manufactured in those 3 months? So no long wait? Straight into hashing. IF they meet their Sept. Oct deadlines that's got to be a possibility.

What if they sold you a Jupiter in January not having released this info with you in the dark...and a week later released a much more powerful machine at roughly the same price ? You'd be furious and they would be bastards wouldn't they?

Personally I'm pleased they said this, whatever the reason. It means I can factor an upgrade better around that time.


1645  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 22, 2013, 08:50:12 PM

The tape-out date (sending the final layout to the fab, ordering the masks and wafers) is the major milestone of any ASIC design project. Every customer/investor should be informed about when this is planned and when it was finally executed (this is at least the case in the "normal" ASIC business world). Because after that the "train has left the station" and the time until wafers leave the fab is somehow predictable.

The layout was probably not final in June, otherwise it would not be possible to change the package later on.

If there is no tape-out in July it is impossible that KnC will have packaged dies in their hands end of September (not talking about delivering fully debugged miners to end customers).

Nonsense, there no reason to inform the customers about what's going on behind the scenes, you don't see any of the big electronics manufacturers doing that, they would consider it commercially sensitive information.



Maybe they don't wish to be cast in the same mould as BFL? I'm betting that the way that they invited people to visit and have given out plenty of information and generally communicated with customers and potential customers makes for most people feeling much more confident?

I'm not 100% that they will manage their projected delivery dates, that would be unreasonable with a product that's at this stage. However, I'm pretty confident that I'll be getting a box from Sweden months before I'd have got anything from BFL , it will work and stay working and I won't be hearing "in 2 weeks" over and over when the time comes.

There's always a risk in this type of purchase, but count your blessings that you're not trying to even get an email reply from Flutterby Labs Wink
A month late..that's overachieving over in Kansas. Wink
1646  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 22, 2013, 09:33:24 AM
With a 59% or more rise in difficulty next increase (https://blockchain.info/charts/hash-rate) I wonder whether I should cancel my Saturn order?

All manufacturers seem to have large orders due to be shipped before KnCMiner ships so Jumps of 110,000GH/s per fortnight may continue several more times if not each difficulty change.

Current jump is more than total capacity beginning of June!

I had been thinking of upgrading Saturn to Jupiter. Now it's unlikely. More likely I cancel during next few weeks while I still can!

Hopefully their planned March 2014 offering will make a good investment & ROI.

Based on this, the game is over. No point in anyone buying any ASICs anymore as they will never return anything worthwhile, so not much point in anyone thinking about building a next gen machine never mind selling one as they are always going to be fighting a losing battle?

IF a KnC machine that's not even built yet can't profit, why would the next gen be any different?
1647  Economy / Goods / Selling a diamond for BTC. Advice ? on: July 21, 2013, 11:10:52 AM

I have a shiny diamond in it's little package from Amsterdam unopened with certificate that I'm considering selling for BTC , it's retail value is around £5000 but as trade prices are much lower than that and it's not a run of the mill item to sell I thought maybe someone would be interested in a solid shiny investment for £3.5 ?

Someone getting engaged would be perfect if they were going to spend money on a stone at retail, and diamond prices are on the up quite steadily so not a bad investment  either. It's not a big stone, only 0.7 ct, but it's top quality...hence it's value.

My question is what would be the best method, and/or place to sell it? Smiley I'm new here as far as posting is concerned never mind selling anything..more of a lurker hoovering up info. up until now.

I'm quite happy to leap through hoops to satisfy any questions if anyone shows interest, even deliver the bugger within reason (UK), got to scan it's cert ..scanner's gone to heaven due me never using it for now but I'll be able to provide that and any other proof on request as it's no small amount involved and I appreciate people will require peace of mind. Smiley

Thanks.

t

1648  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: July 21, 2013, 07:38:27 AM
I was curious about the final cost at my door, wasn't sure about customs and VAT etc. and I found this little tool which I thought some peeps may find useful sooner or later. You get a few free shots and can email results to yourself, not sure of it's accuracy but maybe someone knows more than I if they have experience ? http://www.dutycalculator.com/ 

This might be handy too. http://www.sust-it.net/energy-calculator.php
1649  Other / Beginners & Help / Re: Why bitcoin price dropped ? on: July 12, 2013, 12:28:49 PM
1st post here, but can't resist an opinion (which is all any of have).

If you are prepared to spend thousands on hardware to mine you must have a long term mindset.
IF you mine to spend the coins right away you will probably kick yourself in years to come.
I don't think BTC will ever be a choice of payment system for the average person because the average person can have trouble trusting and understanding Paypal so it's going to be too much for them as it works now. However there are enough uses and users (and speculators) to make sure it grows and probably rises in value.
Example, the 1st purchase I am told was 2 pizzas? Value of coins back then was insignificant because they were easy to mine. Now..it's hundreds of thousands of dollars value. Tell that guy that they fell in value Smiley

Even when the value is so volatile and rises and falls tens of dollars over days it's a chance to make money trading them ...yesterday a rise of over 10 dollars with leverage would have left you laughing. It left me a bit miffed, only because I only saw it when it had already happened.

I'm sure I'm not alone in thinking that in a few years time people who kept hold of as many as possible will be happy with the decision...but it's a gamble that you need to do your own DD on and make a decision based on that (knowing that the future could be painful if you're wrong).

Basically my view is:-
Mine for the long term gains. (Lower risk, easier to research)
Trade for the short term gains. (High risk, hard to research and basically gambling)

What I can't figure is why anyone with no confidence in BTC being somehow more valuable in the future is doing involved with them?

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