Swedish ASIC miner company kncminer.com

[xstr8guy]

Has anyone done the math on 10,000-25,000 units @ 1TH? What's that equate to? lol

25000 @ 1TH = 3.5 billion difficulty

So if neptunes don't ship to june and cointerra ship 6 months of 5000 machines @ 2TH about 8.5 billion difficulty just from cointerra.

So if you include blackarrow, bitmine, bitmain, hashfast etc who knows 20 billion+ lol

Why are people using 1THs to compute Cointerra's contribution to the network hashrate?  The TerraMiners are supposed to be 2THs each.

[soy]

...standing poised with btc onhand to buy Jupiters...standing poised...standing poised...standing poised...standing poised...

[Powell]

Same waiting for more people selling their Jupiters!

[Phoenix1969]

If the day ever come that amazon accepts btc...watch out

not so sure that would be good short term..  if you followed the overstock situation, coinbase turned it into a reverse layaway plan.  They dropped their instant buy from 10btc/week to 1btc/week so if you are trying to shop for anything over ~$80 you will have to wait 5-7 days to buy enough coins from coinbase...  but if you already have 400 coins and want to cash out into items, then that is a lot more selling pressure than buying.

Exactly why coinbase is for total noobs, and children.   Why would one go to coinbase and establish such a bottlekneck?
It's worthless if you are moving large amounts. Nothing beats a real exchange.
The tiered confirmation system there sucks too. I've been confirmed at all the exchanges...no problem; but when I go to get confirmed at coinbase, I always get rejected, because they always try to ask questions from my childhood, and I don't see how their questions could ever be answered; I'ts like they're asking housing questions from when I was 2yrs old, how the fuzz am I supposed to know that? I gave up after a half-dozen attempts over a two week period...   but no worries with those ridiculous limits, I'm totally stoked with Bitstamp and Camp BX

[RickJamesBTC]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

[Phoenix1969]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

I can buy & sell as many btc to fiat, or fiat to btc as I want......and the reverse  at Bitstamp & Camp BX. No limits, and low fees...   no shennanigans...  I could sell all XX BTC today, and have cash in my hand in a couple days, no problem with either.
That's what I mean by "Real exchange"
What I wish is for Gox to get the US withdrawals going in a quicker manner again....hehe, now that was cool.

[DPoS]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

coinbase was about half-good and now about a quarter-good mainly since only a few options exist for users statewide (as phoenix mentioned)...  OKpay was a nice way to get money into btc-e but they are on hold last I checked..

interesting to see what Circle does when they launch and if kraken ever gets approvals to allow USD from stateside sources

[vesperwillow]

Has anyone done the math on 10,000-25,000 units @ 1TH? What's that equate to? lol

25000 @ 1TH = 3.5 billion difficulty

So if neptunes don't ship to june and cointerra ship 6 months of 5000 machines @ 2TH about 8.5 billion difficulty just from cointerra.

So if you include blackarrow, bitmine, bitmain, hashfast etc who knows 20 billion+ lol

Why are people using 1THs to compute Cointerra's contribution to the network hashrate?  The TerraMiners are supposed to be 2THs each.

...aaaaaaand now you see why some of us didn't have to think twice about not purchasing a Neptune preorder for the insane prices they wanted..

[vesperwillow]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

I can buy & sell as many btc to fiat, or fiat to btc as I want......and the reverse  at Bitstamp & Camp BX. No limits, and low fees...   no shennanigans...  I could sell all XX BTC today, and have cash in my hand in a couple days, no problem with either.
That's what I mean by "Real exchange"
What I wish is for Gox to get the US withdrawals going in a quicker manner again....hehe, now that was cool.

I'd never use mtgox to handle fiat mainly because of the delays. Despite their "being fixed" over the past few months, I still hear of random issues.

CampBX always has great reviews and I'd trust them.

Coinbase is just far faster and works well for me. You're up and running in minutes and it's seamless with bank accounts. It's also superb for folks who want merchant capabilities, as it's built-in. There are some limits if you're unverified, but they're reasonable.. 50BTC purchase / 10 BTC sell, per day. For being unverified, that's very reasonable.

I think the limits go away entirely after a certain amount of time being verified.

Fiat <-> Crypto takes 2 days on average.

[dropt]

Because in a recent news update, Cointerra was not able to reach their 2TH/s mark in preliminary tests, they were only able to reach 1.6 @ full blast

KnC managed to find another up to another 120GH after launching at ~550GH did they not?  I wouldn't put it outside the realm of possibility that Cointerra will be able to hit 2TH per machine.

[merv77]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

coinbase was about half-good and now about a quarter-good mainly since only a few options exist for users statewide (as phoenix mentioned)...  OKpay was a nice way to get money into btc-e but they are on hold last I checked..

interesting to see what Circle does when they launch and if kraken ever gets approvals to allow USD from stateside sources

I think OKpay has changed it's mind, well for GBP if you're in the UK.

other good news...

http://www.usatoday.com/story/dispatches/2014/01/21/las-vegas-casinos-accepting-bitcoins/4713243/

http://news.cnet.com/8301-1023_3-57617502-93/ebay-uk-to-allow-bitcoin-sales-in-virtual-currency-category/

[vesperwillow]

Because in a recent news update, Cointerra was not able to reach their 2TH/s mark in preliminary tests, they were only able to reach 1.6 @ full blast

KnC managed to find another up to another 120GH after launching at ~550GH did they not?  I wouldn't put it outside the realm of possibility that Cointerra will be able to hit 2TH per machine.

Yeah the techs were saying there's still room, but now that they've found a stable ground they'll start shipping. Firmware can be updated, much like what KNC did.

Even if they don't reach 2TH.. they still have the 'time to market' variable right now, and could appease customers with more physical equipment.

[DPoS]

Coinbase is just far faster and works well for me. You're up and running in minutes and it's seamless with bank accounts. It's also superb for folks who want merchant capabilities, as it's built-in. There are some limits if you're unverified, but they're reasonable.. 50BTC purchase / 10 BTC sell, per day. For being unverified, that's very reasonable.

I think the limits go away entirely after a certain amount of time being verified.

nah, they aren't allowed to hold customer money in their accounts so when you buy 50btc you lock in a price and then wait...wait...for your btc.  Selling isn't terrible except they make some wide spreads lately and those 1% fees each way add up

sadly coinbase is turning into a joke on the buy side and is focusing mostly on merchants for the sell side.

I think OKpay has changed it's mind, well for GBP if you're in the UK.

I'll have to check back with them..  I have a verified OKPay account so I rather not bother setting up with others

[greenbtc]

Coinbase is just far faster and works well for me. You're up and running in minutes and it's seamless with bank accounts. It's also superb for folks who want merchant capabilities, as it's built-in. There are some limits if you're unverified, but they're reasonable.. 50BTC purchase / 10 BTC sell, per day. For being unverified, that's very reasonable.

I think the limits go away entirely after a certain amount of time being verified.

nah, they aren't allowed to hold customer money in their accounts so when you buy 50btc you lock in a price and then wait...wait...for your btc.  Selling isn't terrible except they make some wide spreads lately and those 1% fees each way add up

sadly coinbase is turning into a joke on the buy side and is focusing mostly on merchants for the sell side.

I think OKpay has changed it's mind, well for GBP if you're in the UK.

I'll have to check back with them..  I have a verified OKPay account so I rather not bother setting up with others

I'd have to agree with your statements on Coinbase here, they used to be one of the best gigs in town but with their new limits, 1% each way, and their customer service has turned me away from them. Their service has gotten better lately, but a few months ago it left a sour enough taste in my mouth to never use them again.

[RickJamesBTC]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

[kendog77]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

Hopefully these issues will get better with time.

[greenbtc]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

Hopefully these issues will get better with time.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

[r1senfa17h]

Finally got my refund for 1 of the three Neptunes I purchased. As promised, here's the timeline and what happened.

• 12/29 - 11:06PM ET: Sent email to sales@kncminer.com asking for refund
• 12/29 - 11:06PM ET: Automated response confirming my request was received
• 12/30 - 8:37AM ET: Kurt from KnC tells me that my order has been canceled as requested and he asks for my wire transfer info
• 12/30 - 8:49AM ET: I respond to Kurt's request with my info and inquire about whether I can be refunded in the equivalent amount of bitcoin instead
• 12/30 - 9:21AM ET: Kurt responds to confirm that the refund has been initiated to my bank account and that they do not offer refunds in bitcoin
• 1/08 - 2:30PM ET: Sent email to sales@kncminer.com asking about status of refund
• 1/08 - 2:36PM ET: Automated response confirming my email was received
• 1/09 - 9:10AM ET: Natalie responds, "I will contact our finance team and get back to you shortly"
• 1/13 - 8:59AM ET: Natalie emails and says, "Could you please send us your bank details for international transfer so we can process the refund?"
• 1/13 - 4:22PM ET: I respond to Natalie with the same wire transfer info I sent the first time
• 1/13 - 5:30PM ET: Liam responds with, "These details have been added to your order. All refunds are processed once weekly on a Thursday."
• 1/21 - 8:00AM ET: Bank shows wire transfer for refund is processing

Refund took 23 days total. I think this was a worst case scenario considering the holidays, but I was a little frustrated that I had to give them my wire transfer info twice. I still have two customer appreciation batch Neptunes on order, but have decided to spend the rest of my btc on other mining devices that are immediately available.

[vesperwillow]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

[greenbtc]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.