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Btw has knc-china.com and kncminer.cn been mentioned before?
So they are targeting the chinese market as well for which they have different bank details for payment:
Account Name: Laurel Financial Network Technology Co., Ltd.
Bank: China Construction Bank
Branch Name: Shanghai Xiangyang Road Branch
Account number: 31001555900050005127
And a skype name too: kncminerchina
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I was wondering when do swedish companies have to submit their accounts to the tax man?
I'm asking because one can order such accounts and probably see some useful information such as money received by the business.
Or I've been watching too many detective shows?
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a hash rate greater than 0.5TH at a power consumption of significantly less than 1 watt/GH.
That sounds like 600TH/s with 300W power consumption. Very hard to believe. You have your G and T mixed up. I meant GH/s, but I still find it hard to believe for a 600GH/s device to consume like 300W |
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a hash rate greater than 0.5TH at a power consumption of significantly less than 1 watt/GH.
That sounds like 600TH/s with 300W power consumption. Very hard to believe. |
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6 years for credit card payments? Hard to believe, but sounds great, then one could really be patient.
Unfortunately it seems not to be possible to pay KnC directly with a credit card (bitcoin via bitpay, paypall and bank transfer only).
Was it possible in June?
Believe it, it's true  And you can with with a CC though PayPal without having an account with them. |
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I like this "payment protection" argument. Is it still valid end of September when one paid mid of June? It is valid for many years under Section 75 of the Consumer Credit Act 1974, which simply states: "Pay for something costing between £100 and £30,000 on a credit card and the card issuer's equally liable if something goes wrong." This only applies to the UK. |
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Do you know if it's possible to withdraw to a bank account under different name or it has to be in the name of the MTGox account holder?
Also do you use IBAN or SWIFT/BIC as these are 2 separate options in their new Withdrawal Center.
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And Ixcoins retain a small amount of value based only on the fact that they're still listed on a couple of exchanges, as far as I can tell.
I spent something like 30BTC for i0coins and ixcoins back in the days and now have 15K of each  Should have sold them in April when the rate was 0.0004  |
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But what if we see a scenario where smaller miners start to point their ASICs at altcoins?
Not many SHA-256 alt coins to choose from and the most profitable compared to Bitcoin are scrypt, so it makes no sense to point ASIC to SHA-256 alt coins. |
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The average difficulty raise since block 237888 (May 25th, 2013) per every every 2016 blocks (each difficulty adjustment period) has been 20%, which makes for about roughly 62% monthly (considering the average period for each difficulty adjustment has been 11.63 days).
20% each difficulty adjustment period is not the same as 62% monthly You don't just divide the number of days by the difficulty adjustment period in days and multiply by 20%If you have 20% increase each 11.63 days then in 116 days that won't amount to 200% total increase, but much more About 600% unless I mis-factored somewhere along the way... I've just ran some calculations and between 25th May 2013 and 5th August 2013 difficulty has increased 208.62%, so he might be correct with the 62% monthly figure. |
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The average difficulty raise since block 237888 (May 25th, 2013) per every every 2016 blocks (each difficulty adjustment period) has been 20%, which makes for about roughly 62% monthly (considering the average period for each difficulty adjustment has been 11.63 days).
20% each difficulty adjustment period is not the same as 62% monthly You don't just divide the number of days by the difficulty adjustment period in days and multiply by 20%If you have 20% increase each 11.63 days then in 116 days that won't amount to 200% total increase, but much more |
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Do you realize that if it becomes unprofitable for Jupiters to mine, then it becomes unprofitable for anyone to mine...
This is not outside of the realm of possibility and, frankly, is my greatest concern. Why would that be a concern? In such a scenario where difficulty is insane (3 billion for example) then only 2 types of people will continue to mine: people with zero running costs people, bold enough to invest (mainly electricity) for a future profit I can assure you that the percentage of these groups is small, compared to the ones who will just stop mining, even though they paid big bucks for hardware. So when most of the miners stop mining, then it's not very difficult to predict what will happen - difficulty will decline by a maximum factor of 4 until it becomes sensible to mine again. But I don't see a scenario where most miners will keep mining when profit is less than running costs If that was possible then most GPU miners will keep mining and I don't think that is the case  |
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I hope they deliver on time. A one-two month delay from October mean people may never get back their ROI.
I wonder how do people come to these conclusions? When you say "one-two month delay from October" what exactly do you mean? Do you imply that just a few people will get their miners delayed or most people? Do you realize there is a huge difference between a few people and most people? At what percentage of monthly network difficulty increase do you base your conclusions? Do you realize that the percentage of network difficulty increase is not a constant, thus calculators such as http://mining.thegenesisblock.com/ do not create a clear picture of the future. Do you realize that if it becomes unprofitable for Jupiters to mine, then it becomes unprofitable for anyone to mine (until Gen 2 machines)
September units still look good but October is pushing it. Any delays after October will cause the units to not break even.
So you know the network hashrate and difficulty in October to be able to make such statements? If all KNC units are delayed don't you think that this will positively affect the future hashrate and difficulty or put simply if there are no machines, then there is no such drastic increase in hashrate and difficulty. I know there are other ASIC solutions, but none of them can influence the network as much as what KNC has promised to deliver. |
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But for now, let's also look at the seller: distance selling or not, or is he maybe a small trader himself (who does not need to charge VAT)?
The seller is KNCminer.com = Swedish VAT registered company and I'm quite sure their distance sales account for more than £70K in the current calendar year, thus they would have to register for UK VAT and account their sales here. Just for the records: Distance Selling: When only the seller is VAT registered Dispatches: When both seller and buyer are VAT registered This applies when seller and buyer are in different EU countries. Btw in this case is VAT rate based on shipping or billing address? If for example I purchase goods from a company in France to be delivered to the UK, but paid from a bank account in Italty then which country VAT rate is used? Thank you again for your time |
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the polls are open for the merged mining at KnC
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your place in line is held for 7 days until you pay, if you pay after 7 days, its based on payment date then.
My question asked something different: If the order number given after order is made stays the same or is it changed after successful payment? |
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Hi, the guy making the auction is me. I had an early pre-order and I paid almost at the end of the 7 day period they offered to early pre-orders to complete payment and keep their place in line. That is why my actual order number is not so low, but my early pre-oder was in the 6XX.
Best regards,
Do you mean that your order number chages when you make the payment? I think it stays the same regardless of what you do? |
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You seem like a person, who can successfully analyze and understand legal information, so can you help me clarify this statement from here: Intra-Community acquisition of goods
The place of taxation is determined by where the intra-Community acquisition of goods is made (i.e. the Member State where the goods are finally located after transportation from another Member State).
Goods acquired by a taxable person acting as such (a business in its business capacity) or by a non-taxable legal person (for example a public authority) are subject to VAT. For simplification reasons, goods acquired by a taxable person covered by the SME scheme or the flat-rate scheme for farmers or by a non-taxable legal person are not subjected to VAT if annual acquisitions are below an annual turnover thresholdpdf(14 Kb) set by their Member State (minimum EUR 10 000), though it is still possible to opt for taxation.
The acquisition of goods is taxed in the MemberState issuing the VAT number (Member State of identification) under which the acquisition is made. Should the goods be transported to another Member State (Member State of arrival) tax must be paid there. This will be followed by an adjustment of the VAT paid in the Member State of registration. Examples of the two situations are as follows:
taxation in the Member State of identification [Article 41 of the VAT Directive]
Example 15: French VAT must be paid on goods acquired from another Member State by a company under its French number for use at its factory in Strasbourg.
Example 16: Where a company acquiring goods from Spain provides its supplier with the VAT number under which it is identified in Slovakia, VAT must be paid on the acquisition in Slovakia.
taxation in the Member State of arrival of the goods [Article 40 of the VAT Directive]
Example 17: If goods acquired by a company using its Slovakian VAT number are in fact sent from Spain to Germany, VAT must be paid on the acquisition in Germany and any tax due in Slovakia (see above example 16) will be reduced accordingly.
The bolded text and specifically the one in red is a bit unclear to me - Does it state that if you are not VAT registered (non-taxable) legal person and your turnover is below a certain limit then you should not pay VAT (not subjected to VAT)? |
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