|
gmannn
|
 |
June 28, 2013, 06:20:27 PM |
|
I've been trying to find out what the refund policy is on pre-orders. I was considering ordering a Saturn, but given ship dates won't be until October, I'd want to cancel the order if the difficulty is looking like it will be too great at that time (90M+)
Does anyone have direct knowledge of how kncminer deals with refund requests on pre-orders?
It was said that they would honor refunds up until the ship date but I can't remember where that was. I just checked their site and couldn't find anything. Bitcoinorama may have brought that back from his visit, I haven't checked that thread. Their refund policy really should be added to the website. Refund policy was shown in the terms of agreement when checking out my order, I can't retrieve it now. IIRC refunds are completely at the discretion of KNC. They say publicly that they will refund orders if the time comes, but I expect they will stop the bleeding if SHTF. |
|
|
|
|
|
DPoS
|
|
June 28, 2013, 07:05:24 PM |
|
This isn't a new dance folks.. if you missed the early orders, I am sure there are some of you that will pay a premium to someone who does have early orders who wishes to cash in said ROI quicker than mining
In such a free market world like btc, there seems to be so many wanting nanny-like price controls
the price is the price.. your crying is your crying
|
|
|
|
|
AFox
|
|
June 28, 2013, 07:09:55 PM |
|
Refund policy was shown in the terms of agreement when checking out my order, I can't retrieve it now. https://www.kncminer.com/pages/tandcThere's nothing talking about refunds ... |
|
|
|
plethora
Member
 Offline
Activity: 113
Merit: 10
|
|
June 28, 2013, 07:12:39 PM |
|
Every day, 3600 new Bitcoins are mined. If KnC sells 3600 Jupiters and they take ALL of the mining market (which isn't likely) each Jupiter will mine maximum 1 BTC per day.
Is this correct?
|
|
|
|
|
Korbman
Legendary
Offline
Activity: 1064
Merit: 1001
|
|
June 28, 2013, 07:17:02 PM |
|
Every day, 3600 new Bitcoins are mined. If KnC sells 3600 Jupiters and they take ALL of the mining market (which isn't likely) each Jupiter will mine maximum 1 BTC per day.
Is this correct?
Yes, that's correct ..obviously not counting hashing variance, round luck, devices going offline, etc. |
|
|
|
|
gmannn
|
|
June 28, 2013, 07:57:05 PM |
|
Thanks, I must have been thinking returns and not refunds. |
|
|
|
|
Phoenix1969
Legendary
Offline
Activity: 938
Merit: 1000
LIR DEV
|
|
June 28, 2013, 08:05:31 PM |
|
canth... Where you get that idea  ? Its just wrong. Thats over. Well, I agree - the pre-orders certainly should be over. We don't have queue information yet and with odd posts like the one from Elasticband, I wonder if they're still letting people pay for pre-orders. Exactly why I think he was trolling. |
|
|
|
Phoenix1969
Legendary
Offline
Activity: 938
Merit: 1000
LIR DEV
|
|
June 28, 2013, 08:11:07 PM
Last edit: June 28, 2013, 08:56:20 PM by Phoenix1969 |
|
I've been trying to find out what the refund policy is on pre-orders. I was considering ordering a Saturn, but given ship dates won't be until October, I'd want to cancel the order if the difficulty is looking like it will be too great at that time (90M+)
Does anyone have direct knowledge of how kncminer deals with refund requests on pre-orders?
You'd "Give up" at 90 mil diff? ...hahahahahahahahahahaha.........................hold on... Hahahahahahahahahahahahaha LMAO... you are in the wrong business then. Even if the diff was 200 mil, the ROI is less than 3 months, there are few investments in the world that offer returns like that. Seriously, if a diff of 90 at delivery scares you, then you better call paypal or something, because there's a 99.999% chance it will pass that... sooner than later. current diff....19.3 25% compounded every 2 weeks...(current trend) 24...30....37....47....59....73....92....115....143....179....224....281, jan1st So, I EASILY forsee a possible 73-92 diff in september, maybe more, maybe less. But remember, as the total hashrate of the BTC network grows, the rate of climb in the diff will slow, as it will take more & more units to be manufactured to get the same diff increase result. As an example... Knc ships out 10 th/s per week would be a higher percentage added to the cloud today than a month from now. So, at some point, the rate of climb will slow down, eventually to a crawl. But we are a long way away from that. We are at the apex of many deliveries by many suppliers, so expect a diff spike, greater than the 25% per 2 week compounded trend. Fair warning. On the other hand, the moment Bitpay integrates with Paypal (may be very soon) we should experience a huge spike in BTC value, as demand rises. I just hope to have some KNC Geese Hens laying Golden Egggcoin by then!!!! If the diff increases by 25%, then you would have to order another 25% hash power to your collection of rigs in order to keep up, which is where your mindset need be if you plan on "staying in the game": if not... even a greater value, like 50% or more re-investment ratio if you ever plan on actually increasing your "Paycheck". In this world, most businesses fail within the first 2 years. If you don't want to add to that statistic, you might want to study the subject matter a bit more thorough. You never should have ordered an asic if you weren't sure you'd want it later on. That's fine if you are a kid with a 275 dollar Jali order from BFL. Seems like people expect to buy one magic little machine, and it will make you rich. If you are one of those... good luck. |
|
|
|
bebfoo
Member
Offline
Activity: 60
Merit: 10
|
|
June 28, 2013, 08:34:41 PM |
|
I've been trying to find out what the refund policy is on pre-orders. I was considering ordering a Saturn, but given ship dates won't be until October, I'd want to cancel the order if the difficulty is looking like it will be too great at that time (90M+)
Does anyone have direct knowledge of how kncminer deals with refund requests on pre-orders?
You'd "Give up" at 90 mil diff? ...hahahahahahahahahahaha.........................hold on... Hahahahahahahahahahahahaha LMAO... you are in the wrong business then. Even if the diff was 200 mil, the ROI is less than 3 months, there are few investments in the world that offer returns like that. Seriously, if a diff of 90 at delivery scares you, then you better call paypal or something, because there's a 99.999% chance it will pass that... sooner than later. current diff....19.3 25% compounded every 2 weeks...(current trend) 24...30....37....47....59....73....92....115....143....179....224....281, jan1st Actually good point, I was running the estimations with 200M, not 90M. 90M might still be worth the investment (to me) depending on what the growth curve looks like. I've already pre-ordered and paid on Terrahash, so was just considering KNC as a second option. |
|
|
|
|
xuemike
Member
Offline
Activity: 116
Merit: 10
|
|
June 28, 2013, 09:28:11 PM |
|
Does anyone know the warranty of these units?
|
|
|
|
|
|
|
|
nightengale
|
|
June 28, 2013, 10:24:27 PM |
|
On the other hand, the moment Bitpay integrates with Paypal (may be very soon) we should experience a huge spike in BTC value, as demand rises.
Have u seen something specific on this? You make it sound like a given that it will happen... |
|
|
|
|
|
DPoS
|
|
June 28, 2013, 10:34:02 PM |
|
On the other hand, the moment Bitpay integrates with Paypal (may be very soon) we should experience a huge spike in BTC value, as demand rises.
Have u seen something specific on this? You make it sound like a given that it will happen... we know btc ain't annoymous by itself.. but why would anyone want to attach so much information like paypal does just to use it? And pay way more fees or course and they still wouldn't guarantee the buyer with chargebacks.. there is no chance that bitpay merges with paypal.. if it does, it won't be what bitpay was and someone else will take its place perhaps bitpay branches out with some escrow options? |
|
|
|
dhenson
Legendary
Offline
Activity: 994
Merit: 1000
|
|
June 28, 2013, 11:54:31 PM |
|
we know btc ain't annoymous by itself.. but why would anyone want to attach so much information like paypal does just to use it? And pay way more fees or course and they still wouldn't guarantee the buyer with chargebacks..
Actually, Paypal adding bitcoin as a funding option would be amazing for the bitcoin community. Every site that currently accepts Paypal would instantly become a bitcoin accepting merchant. User loads shopping cart, clicks pay by Paypal. User is presented with Paypal login iFrame. User logs in and selects bitcoin as payment option. User is presented with address, sends bitcoin, transaction complete. The above scenario a) completely legitimizes bitcoin and b) gives us all the ability to spend bitcoin on basically every worthwhile website in the world. It's time to step out of the anti-establishment box and get out of the way of global acceptance. *sorry for responding to an off-topic post* |
|
|
|
|
|
blastbob
|
|
June 29, 2013, 12:05:11 AM |
|
Please release a smaller less expensive version  You could always do a groupbuy. But its good to have a heater for the winter also |
Bitrated user: blastbob.
|
|
|
|
DPoS
|
|
June 29, 2013, 12:26:50 AM |
|
we know btc ain't annoymous by itself.. but why would anyone want to attach so much information like paypal does just to use it? And pay way more fees or course and they still wouldn't guarantee the buyer with chargebacks..
Actually, Paypal adding bitcoin as a funding option would be amazing for the bitcoin community. Every site that currently accepts Paypal would instantly become a bitcoin accepting merchant. User loads shopping cart, clicks pay by Paypal. User is presented with Paypal login iFrame. User logs in and selects bitcoin as payment option. User is presented with address, sends bitcoin, transaction complete. The above scenario a) completely legitimizes bitcoin and b) gives us all the ability to spend bitcoin on basically every worthwhile website in the world. It's time to step out of the anti-establishment box and get out of the way of global acceptance. *sorry for responding to an off-topic post* you are a whiteboard, forget the details kind of big thinker right? the devil is in the details in this one... |
|
|
|
|
Kuroth
|
|
June 29, 2013, 01:51:44 AM |
|
|
|
|
|
|
nightengale
|
|
June 29, 2013, 02:50:09 AM |
|
Have been following this chart for a while... so if KnC isn't profitable, then nothing else really is either? There's a lot of talk about the rate of difficulty increase that has me a little concerned about ROI. But right now, KnC is the best value hands down for hashing power. We'll see what else comes on the market and how difficulty rises.
|
|
|
|
|
kevcoins
Member
Offline
Activity: 117
Merit: 10
|
|
June 29, 2013, 03:06:00 AM |
|
I've been trying to find out what the refund policy is on pre-orders. I was considering ordering a Saturn, but given ship dates won't be until October, I'd want to cancel the order if the difficulty is looking like it will be too great at that time (90M+)
Does anyone have direct knowledge of how kncminer deals with refund requests on pre-orders?
It was said that they would honor refunds up until the ship date but I can't remember where that was. I just checked their site and couldn't find anything. Bitcoinorama may have brought that back from his visit, I haven't checked that thread. Their refund policy really should be added to the website. Yes they have openly said they will honour refunds, I think they have said this in this thread. It's not been me stating this, although I do know that this is the case. Personally though if you intend to have cold feet and be be flakey I'd prefer you refund sooner, rather than later and muck everyone around. The guys mean well and competitor hashrate is out if their hands. They don't need mice jumping ship. Mice will jump ship if ROI is impossible. That's part of the preorder game. Did you get your question answers? regarding if the chip has been order and in production now?  |
|
|
|
|
Phoenix1969
Legendary
Offline
Activity: 938
Merit: 1000
LIR DEV
|
|
June 29, 2013, 04:16:16 AM
Last edit: June 29, 2013, 05:44:19 AM by Phoenix1969 |
|
On the other hand, the moment Bitpay integrates with Paypal (may be very soon) we should experience a huge spike in BTC value, as demand rises.
Have u seen something specific on this? You make it sound like a given that it will happen... we know btc ain't annoymous by itself.. but why would anyone want to attach so much information like paypal does just to use it? And pay way more fees or course and they still wouldn't guarantee the buyer with chargebacks.. there is no chance that bitpay merges with paypal.. if it does, it won't be what bitpay was and someone else will take its place perhaps bitpay branches out with some escrow options? Yes I have. With the combination of Fincen(The governing body of the U.S. Treasury)literally approving cryptocurrecies http://www.fincen.gov/news_room/speech/pdf/20130613.pdf and the Bloomburg interview with David Marcus(CEO of both PayPal AND BitPay) http://www.bloomberg.com/video/we-re-our-biggest-competitor-paypal-s-marcus-hfD5bqHjSZaMOrEREga9Tw.html and here... https://www.youtube.com/watch?v=cTZnkoaoV1I ,as well as this article... http://tech.fortune.cnn.com/2013/05/23/why-paypal-is-bullish-on-bitcoin/By the way.. I've come up with a simple(too simple almost) formula to succeed in Bitcoin without diminishing returs as a miner... Where "S"= Success(non-diminishing returns), "H"= Hashrate purchase at diffchange, and "D" = Difficulty level percentage increase S = H > D that's it. It of course does not include the dollar value of BTC. One could argue S = H > D + V if V > 0, when "V" is a % decrease in BTC dollar value.... but no need IMHO. I could write an entire paper on why this will work, but it will. Hope this helps. |
|
|
|
|
