Swedish ASIC miner company kncminer.com

[ImI]

Any news about NovBatch which was "in progress" and later back to "paid"

My orders all "in progress" and now back to "paid"

 

Mine when back to paid but still got UPS tracking number and it was here the next day.  Have you got a tracking no.?

I have not yet received a UPS tracking number for my November Jupiter, and November's almost over.  I think they have about 7 more hours of November left in Sweden right now.

All orders placed today will ship in November.

same here

in fact i wouldnt go mad if they deliver next week

what makes me mad is the complete lack of communication......again

i have got a scheduele to make for next week and i have no clue now when to expect the jups. thats f*** sucks!

[r1senfa17h]

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.


Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing  
Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

I don't think you understand. What I described may have a lower upside potential than simply purchasing bitcoin, but I also have a significantly lower downside potential. As long as KnC offers refunds (which is key), then I have a low chance of losing any USD.

Furthermore, it doesn't matter if I paid in USD or BTC, since it would have costed me the same amount of USD to buy the BTC I needed to purchase the Neptunes at the moment I needed.

The amount of time KnC has my money is relatively trivial while less than 6 months. Perhaps if this investment was a larger part of my portfolio I'd care.

[Meizirkki]

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.


Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing  
Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

If you're going to keep on trying to derail the thread, please at least take the advertisement off your signature so we can all take you seriously.

[Phoenix1969]

Higher the risk....  higher the reward
But to me..... Gambling on KNC isn't such a "High risk"....especially when compared to the so-called "competition". I'm just following my "Gut Instinct" at this point...I'm having a blast anyway...

I once went long JBLU through a leveraged position on my gut instinct... guess what?  MARGIN CALL!!!  

Pshaw......  @ 1200 a coin....it's practically like an an IPO  Good luck.. 

[Bogart]

This is the KnC thread.  Please take unrelated discussion elsewhere.

[Phoenix1969]

I didn't want a phone call...a fucking email would have been nice though. 1st I heard was on this forum, hours after the things were sold. I bought a KNC machine mainly based on it's ability to be upgraded

I got an email.  Did you not sign up for their email newsletter?

Yeah, Emails were sent..got one here too.

[helmax]

my jupiter now say payed before said progress
anyone have this trouble?

[Phoenix1969]

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.


Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.


Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing  
Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

Some people just can't see the forest through all the big trees.....  common.
BTW...  refunds are carried out based on fiat value... not given back btc equivalent.

[ASIC-K]

I didn't want a phone call...a fucking email would have been nice though. 1st I heard was on this forum, hours after the things were sold. I bought a KNC machine mainly based on it's ability to be upgraded

I got an email.  Did you not sign up for their email newsletter?

Yeah, Emails were sent..got one here too.

ditto. i got one as well.

[Phoenix1969]

my jupiter now say payed before sayd progress
anyone have this trouble?

site problems yesterday ... same here...rest assure...all will be okay...

[helmax]

@Phoenix1969 sell me one neptune  

[ASIC-K]

@Phoenix1969 sell me one neptune  

I'm pretty sure i saw a neptune on ebay the other day for 20k!

if i got this much, id probably sell too. lol

[ASIC-K]

All
 
We have an exciting update for you all today, in 2014 we will be shipping our 20nm product called Neptune.
We are aware more now than ever, that the demand for our product is large with bitcoin prices rising to all-time highs. The lack of available companies in the market place who can actually design, produce and more importantly ship increases the demands for our products as we are the only company who has shipped a 28nm product. We will once again take the bitcoin mining hardware to the next level.
 
Our first offering at 20nm is called Neptune following the naming convention from our 28nm range. It will have the following basic specifications.
 

Minimum 3000GH/s of hashing speed that 3TH (Over 5 times the speed of our first Jupiter release)
   (we reserve the right to increase this as we get closer to shipment)
A 30% reduction in watts per GH,
Shipment begins in Q1/Q2 of 2014,
Bitcoins first ever 20nm miner bought to you form the company who shipped the first 28nm bitcoin miner,
Limited batch for registered customers only,
Existing customers only can buy at this price other batches will be released later to non-existing customers at a higher price.
These items will be on sale for two weeks at this price or until it has sold out.
Payment for this product is bitcoins and bank transfer only.
 
The product is now available for purchase in our shop, If you are a registered customer you can order and pay for it today. Here at https://www.kncminer.com/categories/miners
 
There is a limited supply at this introductory price as a reward to our existing customers who have been with us before.
 
Thanks KnC Team

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[jonoiv]

my jupiter now say payed before said progress
anyone have this trouble?

Yer a few people read the last few pages.  Mine said the same but I got a ups tracking number and it arrived yesterday.  I think they have been sent just waiting on the tracking numbers personally!  But im sure there will be a offical word soon

[PenAndPaper]

I don't think you understand. What I described may have a lower upside potential than simply purchasing bitcoin, but I also have a significantly lower downside potential. As long as KnC offers refunds (which is key), then I have a low chance of losing any USD.

Furthermore, it doesn't matter if I paid in USD or BTC, since it would have costed me the same amount of USD to buy the BTC I needed to purchase the Neptunes at the moment I needed.

The amount of time KnC has my money is relatively trivial while less than 6 months. Perhaps if this investment was a larger part of my portfolio I'd care.

I understand your logic but as i said if you want to hedge against the worst case scenario you don't have to buy a miner from KnC

What you say is like selling now bitcoins that worth 10000$ and then wait for 5 months. If in the end of those 5 months bitcoin still holds then you 'll buy back bitcoins but probably in a much higher price. If bitcoin collapses your hedging strategy saved you from the worst case scenario. Got it now?
The refund from KnC don't introdute a unique hedging strategy against bitcoin collpasing.

[OmegaNemesis28]

I didn't want a phone call...a fucking email would have been nice though. 1st I heard was on this forum, hours after the things were sold. I bought a KNC machine mainly based on it's ability to be upgraded

I got an email.  Did you not sign up for their email newsletter?

Yeah, Emails were sent..got one here too.

ditto. i got one as well.

Same. I only knew because of the email. I'll give KNC that much.

But they didn't give any notice prior. They just opened up and immediately closed down.

[bobsmoke]

Out of curiosity. Is there someone among the dudes that preordered neptunes, that has done an actual estimation for difficulty and ROI?

History has proven its a fruitless excercise.

very very rough estimation without evidence to proof it...just gut feeling:

4.2K Thera - Neptune 1st Batch (1200 Neptunes)
1k Thera -  Bitmine (estimation I dont know how many machines they sold out)
2k Theras - Hashfast  (500 Theras just for IceDrill group...no idea how many machines each batch)
2k Theras - Cointerra (no idea how many machines each batch)
---------------------
9.2 P Hashes at least in the next 6 months

you miss a lot of H/s along the way.

use this as a start https://bitcointalk.org/index.php?topic=283820.0

take into account that the aformentioned estimate is not exhaustive. e.g it doesn't include
bitmain's off the shelf products https://bitcointalk.org/index.php?topic=348747.0

Excellent, Thank you!
So we have ~6Ph at the moment and we might have ~18Ph in 6 months. Therefore, a Juniper which is mining ~0.3 per day today will mine ~0.1 in 6 months and a Neptune will mine ~0.6 per day. its going to be crazy times for the mining community!

[Phoenix1969]

@Phoenix1969 sell me one neptune  

I'm pretty sure i saw a neptune on ebay the other day for 20k!

if i got this much, id probably sell too. lol

The Neptunes are my hedge...   maybe in a couple months...

Or if I got a ridiculous offer...  you are offering 20?  I might do that right now!

[ASIC-K]

I didn't want a phone call...a fucking email would have been nice though. 1st I heard was on this forum, hours after the things were sold. I bought a KNC machine mainly based on it's ability to be upgraded

I got an email.  Did you not sign up for their email newsletter?

Yeah, Emails were sent..got one here too.

ditto. i got one as well.

Same. I only knew because of the email. I'll give KNC that much.

But they didn't give any notice prior. They just opened up and immediately closed down.

i was pissed when they did this little notice thing with the upgrades too, but i kind of get it now. if they gave everyone a couple weeks notice and told everyone "order opens november 26th" the site would probably crash and cause a ton of issues, i guess they have to give little notice as to not flood the order system? does that make sense?

[ASIC-K]

@Phoenix1969 sell me one neptune  

I'm pretty sure i saw a neptune on ebay the other day for 20k!

if i got this much, id probably sell too. lol

The Neptunes are my hedge...   maybe in a couple months...

Or if I got a ridiculous offer...  you are offering 20?  I might do that right now!

haha +1

you and I seem to have the earliest pre-orders, we could ask a premium!