They can't offer customers only 6 months of 3TH because customers haven't paid for this. It's simple. They will either offer lifetime virtual 3TH or an actual product. The question is if they will force either virtual hashing or wait for product. That would be extremely sick! But i think they won't force it. The best way is to just offer virtual hashing until they ship the product and then they remain with the hashing. It's a win win for all. More win would be if they don't start the farm at least until half June, but i don't expect that to happen at this point.
KNC don't give a shit about a win-win for all. Or they'd be shipping upgrade boards, Jupiters and sticking to their 5% pledge. Not building a 18000+ Jupiter datacentre for themselves with customers money. How many times have I said they have and show contempt for their customers? This is just another instance. Believe me, they DO give a shit about a win-win for them though. If coindesk got their facts straight on the three options, which shouldn't be that hard, then it's clear it a *choice* of 3 options. Not a mix and match, but a plain choice between 3 different options. Option 3. CONVERT to 3TH of cloud for 6 months That does not mean you get 3TH of hashing for 6 months, then your Neptune sometime in 2015. It seem to spell out either you wait out the delays. Or accept 3TH of cloud. That seems pretty clear. You are deluded if you think knc are some amazing company who will give you free hashing for life. Or free cloud hashing for 6 months and then ship you a product. It's one or the other. These are some ruthless mofo's... don't try to mess with the Swedish bitcoin mafia.
 There's always the chance they for all intents and purposes KNOW they'll have the Neptune very early, earlier than their most optimistic projections and are posing the Plan B to mislead non-Neptune pre-order owners and in turn slow network hashrate growth. |
|
|
|
I wonder if KnC would consider sending a refund to a MtGox account, or splitting a refund partly to a MtGox account and partly to a US bank account.
KNC refunds only in $, directly to your bank account, they don't refund in BTC. MtGox takes fiat don't they? When Dwolla was functional you'd give Dwolla $'s and send those $'s off to MtGox where MtGox would then show you have dollars. One would then spend the dollars on bitcoins. So, MtGox a) will store dollars, allowing them to be parked there, and b) will store bitcoins in a wallet there in Japan, and c) will allow you to trade. So, why not have part of the dollars refund sent to MtGox and some to a US Bank? So there's a minor problem due to the bitinstant guy being convicted of a crime and ID reverification is necessary if one sent any dollars say Walmart->zipzap->bitinstant->MtGox. Just because we in the US have difficulty sending dollars to MtGox there's no reason KnC can't send dollars to MtGox if it wished. On a opening page of the JFK book Profiles in Courage, or perhaps it was one of the two major biographys of the president in office (Schlesinger's or Manchester's), there's a quote by a Greek that went something like: Observing your laws we fell. or perhaps it was Observing your laws we lie. |
|
|
|
Is this why BTC/USD is falling again? I've got buy orders at $700, $675, $650 and a biggie at $601 Let the drop continue!!! My opinion is that the banks showed they can influence bitcoin with the approach to the Senate hearings, the rise then fall while stability would have improved bitcoin status. Holidays are over and we have bills. The banks have the stock market low so anybody selling mutual funds to pay bills and avoid interest on credit cards a) will get less, b) will put cheap mutual funds on the market. Same with bitcoin, they drive it down now. If one had cashed in 1.5btc on the 1st of Feb to pay bills it would have fetched $1228 before fees but now it would fetch $1113 before fees. |
|
|
|
|
I wonder if KnC would consider sending a refund to a MtGox account, or splitting a refund partly to a MtGox account and partly to a US bank account.
|
|
|
|
So, does this mean that if we opt to wait and receive our Neptune we will get a compensatory 3TH hashing at their pool until the Neptune is shipped to us?
(...)
As I read it: NO, that's not an option as it would be a combo of option 1 and 3. 1) When you decide to wait it would mean watching the diff sky rocking 2) For a refund, now is a better point in time than in summer I assume. 3) And when you decide for the hosting, one might pay >2.500$ a month for cloud-shit (based on 12.995 with 19-25%VAT and shipping) and will never see a physical device. In addition you only get 3TH/s, but they already said Neptune will be at least 11% faster. I don't disagree. The only upside might be the writing on the wall bringing new hash buying to a halt. |
|
|
|
|
So, does this mean that if we opt to wait and receive our Neptune we will get a compensatory 3TH hashing at their pool until the Neptune is shipped to us?
That would mean as if getting the Neptune on June 1.
I understand luck on the pool I use has been poor lately but looking at a return on 12/5,6,7/13 and 2/5,6,7/14 then disregarding any change expected to network hashrate due to a KnC northern Sweden Jupiter farm, and calculating a similar reduction for 6/5,6,7/14, and expected ratio of 285,000MH/s to 3,600,000MH/s, it would start out making less than my Merc w/1_upgrade module makes today. Unless I'm mistaken and I've been know to make mistakes.
But immediate resale upon arrival is possible, likely at a huge markup. On the other hand if KnC's rational for not wanting to sell is a liability issue shouldn't a reseller feel the same?
|
|
|
|
|
Maybe the exploding capacitors (not properly shutting down and restarting while casually unplugging and replugging pci-e connectors) or exploded incoming electrical service boxes made them feel customer/owners have become a liability.
Like some peoples who evolved in very northern climes have a linkage between that aspect of the fight-or-flee-mechanism which results in higher energy usage (generating heat) but with the effect of causing distress more easily when smoking pot or a tendency to alcoholism (Iceland, Russia tho not true of Mediterranean stock). So, pot for them is not a good idea but for fairness pot is illegal for all in some locales. A non-tech owner of a Jupiter casually unplugging and replugging pci-e connectors blowing up boards makes us all a liability for KnC would be similar.
|
|
|
|
|
Which begs the questions, if they had already changed their SMT machines to the new VRMs in November when the old VRM modules were available for the one-time sale, did they only have enough on hand to fill vacant module positions on Mercurys and Saturns and if so, knowing that Jupiter owners seeing two available ribbon cable sockets already populated which would allow them to upgrade 4 module Jupiters to 6 module Jupiters would jump at the chance to buy the old VRM modules, why offer them to all pre-existing customers instead of just offering them to Mercury and Saturn owners first? It would have been clear there would be a shortfall. Had KnC decided to change its perceived relationship with its customers? The decision makers sitting around a table planning the sale should have and would have weighed these questions.
|
|
|
|
Hell what infuriates me is that KNCs position is:
We aren't selling any upgrade modules to the people that launched our company, but we are going to manufacture hundreds or even thousands of them for ourselves and not sell our customers a single one because we want all the money for ourselves.
Its like they are saying:
"if you bought an upgradeable Mercury and you didn't get modules when we sold them for 7 minutes last year, well screw you!"
So glad I didnt get on the Neptune bandwagon. Amazing how greed and success gets to you and you forget who "brought you to the dance"
'Orama is a good man and I know he is embarrassed for KNC.
They may have changed their production SMT machine(s) to the new VRM and for reasons of their own don't want machines to have a mixture of old VRM module boards and new VRM module boards. |
|
|
|
We are given to understand and believe that since the November sale of upgrade modules, KnC has added nothing to the network hashrate, that the near constant growth has not included any new KnC miners. But we do not know how many KnC 28nm ASIC chips were sold to private buyers if any.
That the 28nm Jupiter farm yet to be deployed in northern Sweden will accelerate the ongoing hashrate rise while if we choose to take possession of the Neptune we will not be given compensation from that Jupiter farm.
And when that Jupiter farm comes online it will change the slope of network hashrate, maybe not the way the October and November sales did but there will surely be a sharp rise. And that sharp rise will be punishing to the mined btc return of Neptunes to be eventually shipped to those who opt for possession and ownership of the hardware. |
|
|
|
|
what, and start a stampede? are you nuts?
|
|
|
|
|
We are given to understand and believe that since the November sale of upgrade modules, KnC has added nothing to the network hashrate, that the near constant growth has not included any new KnC miners. But we do not know how many KnC 28nm ASIC chips were sold to private buyers if any.
That the 28nm Jupiter farm yet to be deployed in northern Sweden will accelerate the ongoing hashrate rise while if we choose to take possession of the Neptune we will not be given compensation from that Jupiter farm.
|
|
|
|
Choice 1 and 3 are mutually exclusive? Take door number 3 and never get the actual Neptune? |
|
|
|
TGB's 60 and 90 day estimates aren't garbage, they've done fairly well over the last few months. Back in September it was showing about a billion for January, and that wasn't far off.
So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.
Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.
TGB works good for short term, but it (at least historically) continues to extrapolate an exponential increase in hashrate over the longer term. I haven't used that calc in several months, so this may be old news. However, when it was first used to generate a lot of FUD, it showed such. That has already tapered off. What we'll likely see in coming months is a number of spikes where it goes up by a lot, followed by a small climb for a couple of diff periods. Then it will taper off. The problem, of course, is predicting how those spikes and valleys will happen. This is essentially impossible in the long term, and this is not solely a bitcoin problem. We know who the major players are, but there is a lot of interest in building and disseminating hashpower. Ultimately it will come down to the mix of exchange rate and electric costs. Which seems to me to be a great opportunity, one I'm going to pursue. Off grid power generation is going to become necessary to the mining community sooner rather than later, or else a great many of these machines are indeed NOT going to achieve positive ROI in the not too distant future. Even if you, like me, don't care whether that ROI is bitcoin or fiat or gold or fucking cows. Yet if you could generate your own power, the useful life of the machines becomes indefinite, rather than extremely finite. I've long been interested in small scale power generation anyway. I have some interesting ideas along those lines, and when I get them firmed up a little better I'll start a thread regarding that. Not sure what subforum it should be on, though  On topic, I suspect that this hosting facility of KNCs is going to be a PR disaster for them. I think they would have been smarter to just do it quietly, sell Jupiters, and be up front about any delays. I think such a center would be good for the network as a whole, as it would put a cramp on CEX and force them to be more competitive in their share prices, plus leading just generally to more competition in cloud mining. But they way they appear to be doing this is, frankly, stupid. I served on guppy2's, electric boats built in the late 1940's. Ah, to have a single 1.5v cell from one of those. Each cell weighted a few tons. |
|
|
|
|
so, plan B is some compensation for delay but there's no mention of ROI.
|
|
|
|
An airstrip suitable for Josh's plane there? |
|
|
|
|
Ah, this is part:
Following the arrest of BitInstant CEO, we believe it necessary to confirm and improve the information we hold on all customers using or having used BitInstant in the past. We understand that this request may create inconveniences but we believe that this is a necessary process to enforce MtGox policy not to tolerate any illegal usages of its platform.
please attach to this email the following documents in order to have your account unlocked
|
|
|
|
|
Another question: On MtGox the process is called TOTP#xxxxxx while on the GA Auth I called it MtGox. If the process is called TOTP#xxxxxx on Gox do I need call the process on GA Auth the same?
|
|
|
|
|
Okay. I went to the MtGox Security Center and worried about time I did the Google OTP button then quickly copied the Private Key and having found that the + on GAuth Authenticator did give the needed fields, I entered the name MtGox, tabbed down and pasted the Private Key and it generated a 6 digit number which I entered on the Code line of the MtGox Google OTP form and before copying the other data, e.g. Public Key, hit the Save button and now the TOTP#xxxxxx appears above the Google OTP symbol and I was now able to add the method to withdraw where the TOTP#xxxxxx now appears with an x within a red circle nearby.
Again, I did not copy the Public Key. I do have a copy of the Private Key. Is there a way I can access the TOTP#xxxxxx data before signing out of MtGox so I can obtain the Public Key?
I see the GA Auth is still creating OTPasswords for MtGox every 30 seconds.
Now how is this going to effect my MtGox usage?
Will the GA Auth open to the MtGox setting every time?
Thanks.
soy
|
|
|
|
|
Show Posts
