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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3008541 times)
canth
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June 06, 2013, 06:02:05 PM
 #2081

Thats why Avalons had no problems at customs. They were paid in bitcoins. The package was shown as engineering sample, so you doesn't have to pay any tax. But there were a few problems with PSU-s wich ha real brand.

If you know what I mean....

Ok mate, good luck with that. When you need to chase missing packaging and it's declared and therefore insured as an engineering sample valued at $0.00, can you guess what DHL will honour in return...?

Agreed - a missing or damaged shipment would make you SOL. I'm very happy that KnC is doing this by the book - always do things the right way and you'll set yourself apart from those who do business on the shady side.

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June 06, 2013, 07:09:44 PM
 #2082

I have read they partnered with ORSoC. That seems a legit and long living company thats trustworthy. But i dont remember to read how much financially KNCMiner is invested into ORSoC. I mean how much money did they put into ORSoC? Partnering could mean that ORSoC is paying the development and creation of the chips out of their own pockets. Were there numbers how much money KNCMiner put into ORSoC somewhere? If its much, and the amount of money KNCMiner got with their preorders isnt much higher, it would be a pretty good sign that KNCMiner is legit. Because they cant run easily.
Only thing to consider then would be the time when the miners are in customers hands.
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June 06, 2013, 07:14:47 PM
 #2083

I have read they partnered with ORSoC. That seems a legit and long living company thats trustworthy. But i dont remember to read how much financially KNCMiner is invested into ORSoC. I mean how much money did they put into ORSoC? Partnering could mean that ORSoC is paying the development and creation of the chips out of their own pockets. Were there numbers how much money KNCMiner put into ORSoC somewhere? If its much, and the amount of money KNCMiner got with their preorders isnt much higher, it would be a pretty good sign that KNCMiner is legit. Because they cant run easily.
Only thing to consider then would be the time when the miners are in customers hands.

They're not going to tell you how much money that ORSoC or Sam and Andreas put into KnCMiner. They're a private company and aren't likely to expose their finances to customers. Our pre-order costs are being use to buy the chips from ORSoC and the owners aren't taking a salary until they turn a profit.

At this point, those of us that have taken the plunge are putting a certain amount of hope that they can pull it off. Investments with high rewards typically come with significant risk - there is no free lunch.

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June 06, 2013, 07:16:05 PM
 #2084

Thats why Avalons had no problems at customs. They were paid in bitcoins. The package was shown as engineering sample, so you doesn't have to pay any tax. But there were a few problems with PSU-s wich ha real brand.

If you know what I mean....

Ok mate, good luck with that. When you need to chase missing packaging and it's declared and therefore insured as an engineering sample valued at $0.00, can you guess what DHL will honour in return...?

Sorry but I think you understood me wrong. On the pictures what I've seen about Avalons all the stickers shown engineering sample... So I think they were send as engineering sample. But maybe I wrong. Knc will send their miners with normal paperwork.

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June 06, 2013, 07:22:02 PM
 #2085

I don't know how is it going in the US but I've ordered several times measuring equipments from the US to EU and alwas took about 1 or 2 weeks to pass customs. A lot of paperwork, had to pay 10% tax. Thats the way If you do it with normal paperwork. Into EU at least...

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June 06, 2013, 07:24:36 PM
 #2086

3 pre order spots left for 1-500 PM me. https://bitcointalk.org/index.php?topic=226221.msg2381096#msg2381096
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June 06, 2013, 07:41:59 PM
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Thank you for work and sharing  the answers about the Opening Day with the community!
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June 06, 2013, 07:51:39 PM
 #2088

I have read they partnered with ORSoC. That seems a legit and long living company thats trustworthy. But i dont remember to read how much financially KNCMiner is invested into ORSoC. I mean how much money did they put into ORSoC? Partnering could mean that ORSoC is paying the development and creation of the chips out of their own pockets. Were there numbers how much money KNCMiner put into ORSoC somewhere? If its much, and the amount of money KNCMiner got with their preorders isnt much higher, it would be a pretty good sign that KNCMiner is legit. Because they cant run easily.
Only thing to consider then would be the time when the miners are in customers hands.

A partnership doesn't mean you'll put any money into the other company.

The way I see it, KNCMINER will handle the front of the house and ORSoC the back. KNCMINER with take care or orders and payments and ORSoC will bill them, as a supplier.

This way, the risky bit (debt) is with KNCMINER while the profits can stay with ORSoC. If things go pear shaped, bankrupting KNCMINER will be much cheaper (and the profits are more or less safe with ORSoC - I'm sure though that Sweden must have some rule like "money that has been paid by KNCMINER to X,Y,Z within the last xx months needs to be returned and shared amongst all the creditors/state/banks/whatnot", so it's not all bad).

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June 06, 2013, 08:48:41 PM
 #2089

I have read they partnered with ORSoC. That seems a legit and long living company thats trustworthy. But i dont remember to read how much financially KNCMiner is invested into ORSoC. I mean how much money did they put into ORSoC? Partnering could mean that ORSoC is paying the development and creation of the chips out of their own pockets. Were there numbers how much money KNCMiner put into ORSoC somewhere? If its much, and the amount of money KNCMiner got with their preorders isnt much higher, it would be a pretty good sign that KNCMiner is legit. Because they cant run easily.
Only thing to consider then would be the time when the miners are in customers hands.

A partnership doesn't mean you'll put any money into the other company.

The way I see it, KNCMINER will handle the front of the house and ORSoC the back. KNCMINER with take care or orders and payments and ORSoC will bill them, as a supplier.

This way, the risky bit (debt) is with KNCMINER while the profits can stay with ORSoC. If things go pear shaped, bankrupting KNCMINER will be much cheaper (and the profits are more or less safe with ORSoC - I'm sure though that Sweden must have some rule like "money that has been paid by KNCMINER to X,Y,Z within the last xx months needs to be returned and shared amongst all the creditors/state/banks/whatnot", so it's not all bad).

Please understand (KS I'm sure you do) there is a reputational element.

For all intents and purposes time is a healer etc. but any misappropriation of funds or failure would cause significant problems for them in future. Being affiliated with Bitcoin, there is a public relations risk for them I'm sure they don't want a failure on their hands. It's more than other people's money...

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idee2013
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June 06, 2013, 09:43:20 PM
 #2090


Please understand (KS I'm sure you do) there is a reputational element.

For all intents and purposes time is a healer etc. but any misappropriation of funds or failure would cause significant problems for them in future. Being affiliated with Bitcoin, there is a public relations risk for them I'm sure they don't want a failure on their hands. It's more than other people's money...

+1+1+1+1  i dont't know what some peoples from the forum would do if they will make big mistakes. remember bitcoin-24.com and many very strange posts at btc24-help.com ( if you followed it). there were calls for manhunts. really unbelievable and dangerous.  
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June 06, 2013, 10:25:03 PM
 #2091

Does anyone have a quote from Sam from KnCMiner that has him saying that the order number for the origional pre-order emails back in april do not represent your place in line?  Also, once you receive the order number like my order number 40# from putting in an order on Monday will stay place 40#/500 even though the pre-order email back in april said order number 17## as long is it is paid?

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June 06, 2013, 10:33:02 PM
 #2092

Yeah I'm sub 200 pre-order and +1000 order (paid). I guess we'll see in the next few days once pre-order's expire.
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June 06, 2013, 10:43:30 PM
 #2093

Yeah I'm sub 200 pre-order and +1000 order (paid). I guess we'll see in the next few days once pre-order's expire.

I sent an email to Sam at KnCMiner a day ago and still haven't heard back.  It would be really nice to find this information out.  If my pre-order number is my place in line, then I am very confused because I ordered a 1-500 Jupiter.  How can I be the 17## place in line for 500 units, unless they are over-selling like crazy!  Seems that it goes both ways since your pre-order number is sub 200, but your order number is +1000.  Makes me very nervous to make a $7000+ payment when the order number and the pre-order numbers don't make sense!

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June 06, 2013, 10:49:05 PM
 #2094

I guess the preorder ID is worth nothing.  The order numbers of the time they opened the payments are clearly different.

wowc8
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June 06, 2013, 10:50:12 PM
 #2095

Found this statement in the KnCMiner Newsletter:

"Once the 7 days are over we will provide everyone with their final shipping queue placement."

So that must mean that even though my order number is sub 500, since my pre-order number is +1700 that I will not get a 1-500 unit if at least 1200 people before me pay for their units?

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June 06, 2013, 10:52:59 PM
 #2096

I guess the preorder ID is worth nothing.  The order numbers of the time they opened the payments are clearly different.


Well the issue goes both ways, trinsic has an order number +1000 for a 1-500 unit.  Would that put you in a back-up status until +501 units go unpaid?

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June 06, 2013, 10:54:09 PM
 #2097

Yeah I'm sub 200 pre-order and +1000 order (paid). I guess we'll see in the next few days once pre-order's expire.

I sent an email to Sam at KnCMiner a day ago and still haven't heard back.  It would be really nice to find this information out.  If my pre-order number is my place in line, then I am very confused because I ordered a 1-500 Jupiter.  How can I be the 17## place in line for 500 units, unless they are over-selling like crazy!  Seems that it goes both ways since your pre-order number is sub 200, but your order number is +1000.  Makes me very nervous to make a $7000+ payment when the order number and the pre-order numbers don't make sense!

The order numbers being generated now are new.

Once the 7 day window has expired for people to purchase the 1-500 pre-orders then the queue will be sorted so you retain your original position

So if your pre-order is #200 that's the highest it will be, if people with lower numbers don't order you will move up the list

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June 06, 2013, 10:56:57 PM
 #2098


The order numbers being generated now are new.

Once the 7 day window has expired for people to purchase the 1-500 pre-orders then the queue will be sorted so you retain your original position

So if your pre-order is #200 that's the highest it will be, if people with lower numbers don't order you will move up the list

Ok, so if this is the case then because my origional pre-order number back in April is 17##, then I will not get one of the first 1-500 units if everyone pays?

This just seems really odd, why would I pay then if my order for a 1-500 Jupiter will not be fulfilled.

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June 06, 2013, 11:02:25 PM
 #2099

Yeah I'm sub 200 pre-order and +1000 order (paid). I guess we'll see in the next few days once pre-order's expire.

I sent an email to Sam at KnCMiner a day ago and still haven't heard back.  It would be really nice to find this information out.  If my pre-order number is my place in line, then I am very confused because I ordered a 1-500 Jupiter.  How can I be the 17## place in line for 500 units, unless they are over-selling like crazy!  Seems that it goes both ways since your pre-order number is sub 200, but your order number is +1000.  Makes me very nervous to make a $7000+ payment when the order number and the pre-order numbers don't make sense!

The order numbers being generated now are new.

Once the 7 day window has expired for people to purchase the 1-500 pre-orders then the queue will be sorted so you retain your original position

So if your pre-order is #200 that's the highest it will be, if people with lower numbers don't order you will move up the list

I think that's speculation. So if somebody has preorder ID 4000 and paid order 1, he gets tossed to the back of the queue after he paid? Unlikely. Have you seen many preorder systems working like that?

I don't really care because both of my numbers are low. But it's clear to me they messed it up.

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June 06, 2013, 11:08:04 PM
 #2100

Yeah I'm sub 200 pre-order and +1000 order (paid). I guess we'll see in the next few days once pre-order's expire.

I sent an email to Sam at KnCMiner a day ago and still haven't heard back.  It would be really nice to find this information out.  If my pre-order number is my place in line, then I am very confused because I ordered a 1-500 Jupiter.  How can I be the 17## place in line for 500 units, unless they are over-selling like crazy!  Seems that it goes both ways since your pre-order number is sub 200, but your order number is +1000.  Makes me very nervous to make a $7000+ payment when the order number and the pre-order numbers don't make sense!

I think I explained this 10 times already

they had two queues.   the pre-reg and the current placed orders.

you get a 1-500 by your place in the first queue

the second queue started as soon as they took orders.  anyone can place orders. after 7 days, they will sort out the 1-500 customers that placed orders..  if there are any 1-500 customers that didn't use their orders, some of the regular orders will go into the 1-500



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