At 10 BTC, they would be worth buying right now. Anything more, a waste.
Possibly, possibly a little less than that. Agreed, if he priced them at 9 BTC he would sell A LOT of them, resellers would do big orders. But I have the gut feeling he will give it a try at 20/25 BTC, maybe he prefers to sell 300 at 25 BTC than 1,000 at 9 BTCI think the numbers you mean are 60,000 at 25BTC instead of 100,000 at 9BTC. You do the math.... No, i dont mean those useless numbers. They didn't sell a thousand blades at 50 BTC, they won't be selling 60,000 at 25 BTC. And the correlation you made between demand at 25 BTC and demand at 9 BTC is ridiculous. 9 BTC is a price ANY miner would pay. 25 BTC is a price that would be paid only by i) someone that doesn't care about ROI, ii) someone clueless or iii) someone looking for the greater fool to which resell the blade. And before spitting nonsense numbers like "60,000 or 100,000" blades sold you do the math about what would that represent in terms of network hash rate and maybe you will realize how far from the reality are those numbers. |
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This is a good summary of theymos' opinion on the matter. Probably just need a written agreement though, not GPG. Unless I missed something  There was a written agreement (evidenced by the thread).. I'm not entirely sure you know how written agreements work... Find, on the main auction page, where a binding agreement is created prior to bidding. This sort of agreement would state how both parties should proceed once bidding has ended and a winner has been chosen. The agreement is for the sale and purchase of codes. Offer, acceptance and consideration evidenced by the thread as a whole. I understand your point - that they did not set out in writing the order of payment and delivery - but such terms are surely implied being the norm for auctions (i.e. pay first (or into escrow), get product). This is pretty much Rampion's point: No terms are implicit, no precedence or common knowledge can be applied, theymos was *explicit* on that. EXACTLY. runam0k: Read the link I posted in my first post in this thread for more info ( https://bitcointalk.org/index.php?topic=238474.0) EDIT: I did the job for you and looked for the relevant quotes, please see below (I bolded the parts that seem relevant for the current discussion) Having an alt that artificially raises the bid price is similar to a secret reserve price in an auction. There's nothing inherently wrong with it except that Garr255 should have warned bidders that he might do it. I rank his actions there as "a bit shady," though he handled the fallout badly (due to inexperience, I suppose).
In any case, alts aren't against forum rules, and scammer tags are typically only given when an explicit agreement is broken. Garr255 never promised not to bid on his own auctions. He never even promised to honor the results of the auctions. Without contracts that say otherwise, auctions are only devices to assist in price negotiations. Forum policy: No matter how many times you do this, you will never get a scammer tag unless you have an explicit agreement which says otherwise. Auctions are only devices to assist in price negotiations.
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I see an artificial raise to $105 this morning, plus a scary depth for Gox standards:
BTC43.25k to $120, the same amount to $85.
BTC17k to $110, the same amount to $96
Seems like Some groups (silkroad?) just want bitcoin price to fluctuate within a very tight range. I just see the price is desperately holding... Pretty crazy that the US guys cannot withdraw their money from Gox and their only choice is to buy coins to move them to another exchange, the latest news about Citibank rejecting wires coming from Gox its pretty outrageous... This motherfuckers, a PRIVATE company, are entitled to decide to who you may send YOUR money, and from who you can receive YOUR money... Honestly, I see a lot of comments and posts about how "doomed" is Gox, but I haven't seen ANY post complaining about those fuckers, I know that if I had an account at Citibank I would close it for good, they don't get to decide what I do with my fucking money. BTW, Citibank/Citigroup has always been the evil empire, I will leave one link to internal Citigroup documents that leaked for those of you that missed them: http://our99angrypercent.wordpress.com/2011/11/27/download-citigroup-plutonomy-memos/ |
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I'm watching walls and activity using http://trading.i286.org one of you posted this and i love this tool, I'm preffering it to Bitcoinity as it doesn't amalgamate orders and it makes great use of a retina display on my mac. big wall at 104.49 and 104.5, for some reason the waller had 200@104.5 but has since split it up to 104.49 and 104.5 lol. Not sure what is up with that but walls scare me. always! big wall? Now 200 BTC is a big wall? Jeez, what about Wallzilla's 20,000 BTC walls, then? |
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Yes that does imply that things that don’t need to be ordered yet have not been ordered. The reason behind that is we simply don’t need to order them yet, We do have contracts with all suppliers we need to have contracts with Those contracts contain delivery times and the associated order dates by which we must confirm the amounts (and of course pay).
OK, so everything is on track but the chips are not ordered yet, as the amount to be paid is not clear yet - is this correct? |
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Although the following suggests they have;
The performance increase that we can announce today is based on direct feedback from the chip manufacturer who have been working with us for some time now. They have come back to us confirming the performance improvements in our RTL code.
So it is with great pleasure that we can finally announce our Jupiter is now a 400 GH/s device and therefore Saturn is a 200 GH/s device.
We are now so far down the chip development path that we can safely reveal these figures. There will be further announcements from us about the chip manufacture soon, and we will keep you all informed of all progress
Power usage details
We have previously specified the power consumption of the Jupiter device at a 1000 watts. We have now received indication from our chip manufacturer that this may be lower.
No. The above does not suggest that. That's what you want to read in there because you are so over optimistic. They said they were discussing these things with the fabs way before taking money. They could still be waiting to raise enough funds for the production, while working on the specs with the manufacturer. Having sold at the very least in the high 100s of both miners @ median price of over $5000 why would you think they have liquidity issues? Because they said they needed $5,000,000 for the project. I don't know what they really need, but I do know that 28nm is damn expensive. |
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Although the following suggests they have;
The performance increase that we can announce today is based on direct feedback from the chip manufacturer who have been working with us for some time now. They have come back to us confirming the performance improvements in our RTL code.
So it is with great pleasure that we can finally announce our Jupiter is now a 400 GH/s device and therefore Saturn is a 200 GH/s device.
We are now so far down the chip development path that we can safely reveal these figures. There will be further announcements from us about the chip manufacture soon, and we will keep you all informed of all progress
Power usage details
We have previously specified the power consumption of the Jupiter device at a 1000 watts. We have now received indication from our chip manufacturer that this may be lower.
No. The above does not suggest that. That's what you want to read in there because you are so over optimistic. They said they were discussing these things with the fabs way before taking money. They could still be waiting to raise enough funds for the production, while working on the specs with the manufacturer. |
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W00T!...  Edit: You happy Rampion??  Are you ironic? Obviously I'm not satisfied. I'm a practical man. I don't have dreams about early delivery and I don't like wishful thinking. Because I try to use logic in my investments and I take my financial decisions rationally. And BTW, wet dreams about early delivery are just a blatant demonstration of impaired judgment due to over-emotionality, didn't you realize it? TL;DR: All this will be very nice when the units will exist, hashing. At the moment, these are just words. Nice words, I give you that. But I need to know practical things. I need to know that the chip order is placed and when it will arrive to their facilities, in order to evaluate a) if they will be late and b) how much they will be late. Because in this business one month is an eternity, I guess you know it. |
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Great read, made my day  I really envy the optimism all of you have. I still do not see the answer to the important question: Was the chip order placed? Do we have an ETA for the chips confirmed by the fab?Again, all this "good news" are nice, but as this is a time sensitive project I would appreciate an update on the schedule. I need to know if they already placed the chips order and when they are going to receive. If the order is not placed yet, they will be late. |
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News update Main PageNewsCommon It’s time again for another newsletter from us. Today’s newsletter will have the following sections Performance improvements to Jupiter and Saturn Power usage Unpaid orders Lottery results Queue position update Performance improvements to Jupiter and Saturn Here at KnCMiner we have always stated that the final performance of our machines has not been set in stone. We simply do not want to overpromise and then have to correct ourselves later. The performance increase that we can announce today is based on direct feedback from the chip manufacturer who have been working with us for some time now. They have come back to us confirming the performance improvements in our RTL code. So it is with great pleasure that we can finally announce our Jupiter is now a 400 GH/s device and therefore Saturn is a 200 GH/s device. We are now so far down the chip development path that we can safely reveal these figures. There will be further announcements from us about the chip manufacture soon, and we will keep you all informed of all progress Power usage details We have previously specified the power consumption of the Jupiter device at a 1000 watts. We have now received indication from our chip manufacturer that this may be lower. This is where we need to refer you to our statement of under promise and over deliver. So until you hear from us again on this, we would like to reaffirm that Jupiter will be less than 1000 watts and Saturn less than 500 watts. Unpaid orders There has been some confusion about our ordering process. While we may admit that the pre-order registration, 7 day payment window, and even the wording on our site have added to the confusion. We would like to make it clear that orders which are not paid will not be given a place in the shipping queue until they are successfully paid for. All orders are kept in your account history and we have not removed any active (New) orders. We will shortly begin removing any unpaid orders from our system if they remain unpaid for more than 7 days. So for those of you that have been confused by the order/queue/payment process. You will have a few more days to pay for your orders before they are removed. If you have any concerns on this please email us at info@kncminer.com Lottery results The lottery has now been drawn. The winners have been announced, with their permission on our webpage www.kncminer.com. Queue position update We know you have all been waiting for the shipping queue position update and over the next few days we will be adding a comment to your orders which will give you the day that your boxes will be made, tested and shipped. For example Day 1/Day 2/Day 3. This will indicate how far from the start of shipping your order will dispatched. This update will not apply to new orders and will only apply to the orders which were based on pre-order registration. All other orders will be dispatched in the order of payment. Chip Progress report The more technical audience amongst our customers have been asking for a lot details on the chips we will use. The information we have available to you today is that Jupiter will be a 4 chip design and Saturn a 2 chip design. This means that we can achieve a minimum of 100GH/s per chip. Which we think most people will agree, puts us far ahead of our current competitors. Our ASIC package selection has been optimized, allowing the use of a smaller package. The selected package is a 55mm x 55mm HFCBGA package (2046 ball count), optimized for maximum thermal characteristics. Further news We are still on track to meet our deadlines of shipping the first boxes in September. We will be providing regular updates in newsletters here and on our site. www.kncminer.com so keep checking regularly so you don’t miss out on any updates. Thanks KnCMiner team |
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At 10 BTC, they would be worth buying right now. Anything more, a waste.
Possibly, possibly a little less than that. Agreed, if he priced them at 9 BTC he would sell A LOT of them, resellers would do big orders. But I have the gut feeling he will give it a try at 20/25 BTC, maybe he prefers to sell 300 at 25 BTC than 1,000 at 9 BTC |
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Personally, I think all altcoins need to find their own forums. This is Bitcointalk, not altcointalk or cryptocurrencytalk etc., it's just Bitcointalk. Some altcoins do have their own forums but most stick around here and advertise to newbies who have no idea what's up or down in the Bitcoin world, the owners pump and dump and then ditch the coin to whoever's left; after all, the 40th Litecoin clone with slightly altered parameters is probably not being created for the good of man, nor does it even hope to compete with Bitcoin, but merely exists for the creator who prays he'll get rich off it if he advertises enough. To put it bluntly, they're get-rich-quick schemes, and aren't created to service anyone in any way, and I believe they should be treated for what they are. If an altcoin has an incredible amount of merit for being so very innovative, becoming the possible Bitcoin killer (so to speak), then it will naturally make news and find its way over here, instead of being shoved down newbie throats and then disappearing after a couple of weeks.
This, a thousand times. Moreover, they are not even Bitcoin clones per se, but rather Litecoin clones. So they should go on litecointalk or whatever. Really, at least scrypt-coins should be forbidden Strongly agreed. If an alt-coin discussion is relevant to Bitcoin, that discussion will find its way in a Bitcoin related subforum (Developments & Technical Discussion, Bitcoin Discussion, etc.)... While the pump&dump schemes should have their place in a dedicated external forum, "altcointalk.org" or "scamcointalk.org" or whatever. |
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Is there any news from the regulation sector? (Or anywhere?)
Yes, supernodes will be prosecuted and locked up at Guantanamo Bay. The keys of their cells will be flushed down the toilet and no more salads and organic food during the rest of their lives. Only jerky beef. Those who escape from prosecution will be eventually hit by drones, wherever they hide. |
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I think I recall you mentioning that your original testing PCBs were designed for Avalon chips. Are you planning on making Avalon compatible hash modules with Bitfury chips? I am sure they would be a very popular upgrade with the Avalon chassis purchasers!
Yes, I started with Avalon. But I'm in batch 4 and I couldn't get samples. So I jumped ship when the bitfury ASIC came along. The S-HASH boards could work with any ASIC, just the interface with the processor needs soms re-work and possibly the power supply. So when this is done and I can lay my hands on some Avalon samples I will continue with the Avalon board. Later when BFL ships there ASICs I try to make one for their chip also. intron I am considering ditching my avalon Batch3 miner order for Bitfury tech. The miner delays and chip sales have pushed the risk/reward ratio into unfavorable territory. It looks like you have a big head start with bitfury. Thanks for updating the thread on your progress. Looking forward to seeing the products you bring to the market. Me too. But where to buy? Batch #1 (Bitfury) is gone - right? |
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If it's true that there was someone SO FUCKING RETARDED to send money to scammers and feed them, making their effort worthwhile and thus encouraging them to keep doing this stunts and scam clueless noobs, listen to me:
You deserve to lose ALL your money someday. You just do not willingly finance scammers, imbecills!
This, from minute 1, is a clear SCAM
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I think the part that is toughest for the Batch 3 customers to get around, is that there are clone builders who paid less per GH and will be mining with Batch3 clones before official Batch 3 miners are shipped - and that it was those official batch3 sales which financed the chip sales/future development/new facilities/etc. At least Yifu has offered refunds now that they are financially stable, but I know of a bunch of missed opportunities because of the quantity of BTC being held up. Never a dull moment in the mining world. True words, especially the bolded part. That sucks SO hard... And let's do not forget how the pricing for Batch #3 was decided: based on a 30 days ROI and an expected difficulty of 10 to 12 million... |
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Its coming  |
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Is anybody else seeing a big dump approaching?
Do go on.. tell us more.. I see an artificial raise to $105 this morning, plus a scary depth for Gox standards: BTC43.25k to $120, the same amount to $85. BTC17k to $110, the same amount to $96 Then, we have a very important indicator: I don't think we see $100 ever again.
The guy is always wrong, thus we will be going to double digits before seeing again $110 almost for sure.  |
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The BTC/USD price wont be lower...
Quoted for future bump. Today's price is $105 per BTC. |
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