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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3006439 times)
DPoS
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February 04, 2014, 05:47:37 PM
 #29281

This all is a big smoke screen it seems. I'm trying to make sense out of it and am having av difficult time.

I have a batch 1 order. Wtf does this mean? I don't see how this info helps me make an intelligent decision... Do I hodl or bail and reinvest elsewhere?

what is your expectation of profit?  If you can make more profit doing anything else with your capital then of course, move it

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February 04, 2014, 05:48:46 PM
 #29282

When BTC hits $2K, then $5K, then $50K due to the laws of supply and demand...I think we're all going to look back on this and wonder why we complained so much.

It's best to buy coins now.  They may fall a bit more to $600 as a new bottom...but coins are becoming more rare with each passing difficulty increase and a constant new influx of people and services wanting to use them.  The majority of the worlds big money investors still have yet to jump in.  People should be jumping in now before they do.

How is that becoming "rare" if 3600 BTC are being supplied every day?

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February 04, 2014, 05:49:25 PM
 #29283

This all is a big smoke screen it seems. I'm trying to make sense out of it and am having av difficult time.

I have a batch 1 order. Wtf does this mean? I don't see how this info helps me make an intelligent decision... Do I hodl or bail and reinvest elsewhere?

I'll rewrite what I wrote earlier, to make it a little clearer.

KNC will already be hashing with all the machines they will need to give their 3600 neptune customers 3TH on 1st July. In fact, as I said earlier, it's probably a drop in the ocean in terms of what they plan to have at that time.

Come on! They aren't going to leave millions of dollars worth of machine powered off until 30th June 2014 and then turn them on at midnight!

Which means the customer appreciation batch will be just about as worthless as the batch 2(3), as all these machines will already be hashing, the bitcoin difficulty will have already adjusted/risen to account for these 3600 machines.

So instead of having a few weeks of mining and then seeing earnings decline (as with jupiter), you'll start out with the declined earnings and knc will have cleaned up any profits there was to be made beforehand!

Essentially, your neptunes are going to be pre-mined. You'll get it delivered at the highest difficulty ever seen. You won't be adding a 3TH machine to the global bitcoin hashrate, you'll just be re-attaching it when it's probably already been there for a couple of months.

In other words, knc will reap the benefits of your investment and all the bitcoins they can mine, then pass the leftovers at massive difficulty to people on 1st July. You are paying for that. The physical delivery of the product will just be to end any obligation to you and will most certainly be utterly useless hardware by the time it physically arrives. The cost to power it will probably be more than it can mine back.

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augustocroppo
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February 04, 2014, 06:04:28 PM
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In other words, knc will reap the benefits of your investment and all the bitcoins they can mine, then pass the leftovers at massively difficulty to people on 1st July. You are paying for that. The physical delivery of the product will just be to end any obligation to you and will most certainly be utterly useless hardware by the time it physically arrives. The cost to power it will probably be more than it can mine back.

...plus, other ASIC producers are already building their "mining" farms. This is certain and there is no deterrence to stop them to do it. There is, indeed, a very attractive incentive to rise the margin of profits and shift all the risks to the customers. When KnC delivers their customers will have to compete with a difficulty generated by "mining" farms from all ASIC producers.
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February 04, 2014, 06:08:18 PM
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...plus, other ASIC producers are already building their "mining" farms. This is certain and there is no deterrence to stop them to do it. There is, indeed, a very attractive incentive to rise the margin of profits and shift all the risks to the customers. When KnC delivers their customers will have to compete with a difficulty generated by "mining" farms from all ASIC producers.

There was a school of thought at one point that there would be a rise of these massive farms and a massive decrease in the involvement of small-time personal miners.  Eventually however, it is believed that these farms will essentially kill each other off.  As margins become razor thin the only ones still able to mine at a profit will be the small time miners who have significantly less overhead.

 
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February 04, 2014, 06:09:03 PM
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So the there's good news and bad news for Neptune customers:

- good news: if KNC is late beyond an unspecified term with shipping (technically that would be 30th of June, no matter what batch your order is), they'll hash for you @ 3TH/s/Neptune until unit/s get shipped
- bad news: most likely your "virtual" Neptune as well as the shipped ones will be worthless due to the huge difficulty KNC is now throwing at the network. The funny part of this is the fact they don't even break their promise to not mine with more than 5% of the sold hashing power for themselves, simply because they will sell the huge hosted hashing power Smiley

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February 04, 2014, 06:11:17 PM
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Essentially, your neptunes are going to be pre-mined. You'll get it delivered at the highest difficulty ever seen. You won't be adding a 3TH machine to the global bitcoin hashrate, you'll just be re-attaching it when it's probably already been there for a couple of months.


Exactly.  This is why cloud hashing is such a scam.  They put the machines on the network and start collecting Bitcoin, then once the difficulty has adjusted a couple of times, they pay out the calculated amount at the higher difficulty and pocket the difference.  Then, once a year or two goes by, they get to keep thousands of machines and the infrastructure paid for by the suckers.

The difference between CEX.io and KNC will be price.  They will likely price the cloud hashing very competitively which will make it hard to resist for most customers.  After all, they can afford to since they have already cleaned up by mining prior to selling and will keep adding hashing power to dilute your earnings.
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February 04, 2014, 06:13:13 PM
 #29288


There was a school of thought at one point that there would be a rise of these massive farms and a massive decrease in the involvement of small-time personal miners.  Eventually however, it is believed that these farms will essentially kill each other off.  As margins become razor thin the only ones still able to mine at a profit will be the small time miners who have significantly less overhead.
 


they have enough funds now to just push more lying marketing of cloud hashing to all those people who watch 3am get rich quick ads on TV... it will take 2 years for it to work itself out now


~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
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February 04, 2014, 06:18:42 PM
 #29289

We had intended to sell Jupiters at the end of our Network Protection Program.



Cole brothers is so full of shit.

Oh wait, an ASIC being late is perfectly normal, predictable, and legal... - Hashfast_CL
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February 04, 2014, 06:19:33 PM
 #29290

This all is a big smoke screen it seems. I'm trying to make sense out of it and am having av difficult time.

I have a batch 1 order. Wtf does this mean? I don't see how this info helps me make an intelligent decision... Do I hodl or bail and reinvest elsewhere?

I'll rewrite what I wrote earlier, to make it a little clearer.

KNC will already be hashing with all the machines they will need to give their 3600 neptune customers 3TH on 1st July. In fact, as I said earlier, it's probably a drop in the ocean in terms of what they plan to have at that time.

Come on! They aren't going to leave millions of dollars worth of machine powered off until 30th June 2014 and then turn them on at midnight!

Which means the customer appreciation batch will be just about as worthless as the batch 2(3), as all these machines will already be hashing, the bitcoin difficulty will have already adjusted/risen to account for these 3600 machines.

So instead of having a few weeks of mining and then seeing earnings decline (as with jupiter), you'll start out with the declined earnings and knc will have cleaned up any profits there was to be made beforehand!

Essentially, your neptunes are going to be pre-mined. You'll get it delivered at the highest difficulty ever seen. You won't be adding a 3TH machine to the global bitcoin hashrate, you'll just be re-attaching it when it's probably already been there for a couple of months.

In other words, knc will reap the benefits of your investment and all the bitcoins they can mine, then pass the leftovers at massive difficulty to people on 1st July. You are paying for that. The physical delivery of the product will just be to end any obligation to you and will most certainly be utterly useless hardware by the time it physically arrives. The cost to power it will probably be more than it can mine back.

You hit the nail on the head

EDIT: I'm glad i refunded my Neptunes and bought coins instead. I'm glad my cash isn't funding this endeavour.

EDIT2: I'm done with this thread and this company. And i still haven't had BTC ROI on my October Jupiter so yeah, thanks for that too. You win some, you lose some.

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February 04, 2014, 06:21:21 PM
 #29291

they have enough funds now to just push more lying marketing of cloud hashing to all those people who watch 3am get rich quick ads on TV... it will take 2 years for it to work itself out now

Well then I guess it's good that you and I were in this game before "Greed 2013 and beyond" happened.
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February 04, 2014, 06:22:34 PM
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When BTC hits $2K, then $5K, then $50K due to the laws of supply and demand...I think we're all going to look back on this and wonder why we complained so much.

It's best to buy coins now.  They may fall a bit more to $600 as a new bottom...but coins are becoming more rare with each passing difficulty increase and a constant new influx of people and services wanting to use them.  The majority of the worlds big money investors still have yet to jump in.  People should be jumping in now before they do.
Can you please explain, who will pay for bitcoin 5k or 50k ?  What about bitcoin demand decrease ? Meanwhile the price always jump by the miner sale (Avalon, KNC), and by this prices and dates ................  Kiss
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February 04, 2014, 06:25:19 PM
 #29293

When BTC hits $2K, then $5K, then $50K due to the laws of supply and demand...I think we're all going to look back on this and wonder why we complained so much.


mining doesn't change BTC price..    BTC price changes mining

The relationship isn't 1:1 but they both affect each other psychologically.
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February 04, 2014, 06:25:39 PM
 #29294

Can you please explain, who will pay for bitcoin 5k or 50k ?  What about bitcoin demand decrease ? Meanwhile the price always jump by the miner sale (Avalon, KNC), and by this prices and dates ................  Kiss

Have you forgotten you don't need to buy a whole bitcoin?  

Can you please explain, who will pay for a single Berkshire Hathaway Inc. share $165,138?

http://ca.finance.yahoo.com/q?s=brk%2da
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February 04, 2014, 06:26:07 PM
 #29295

they have enough funds now to just push more lying marketing of cloud hashing to all those people who watch 3am get rich quick ads on TV... it will take 2 years for it to work itself out now

Well then I guess it's good that you and I were in this game before "Greed 2013 and beyond" happened.


we got lucky to pick the new kids that saw this as a science fair until they won and the rest told them...'yo knc dudes, nice effort but we all could of beat you but then we beat ourselves..'


~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
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February 04, 2014, 06:26:13 PM
 #29296

So who wants to buy a KNC controller card for a mercury/neptune/saturn?

Don't think I will have a use for it now.


how much?


Send me a PM I will tell you where the bidding is so far

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February 04, 2014, 06:26:25 PM
 #29297

When BTC hits $2K, then $5K, then $50K due to the laws of supply and demand...I think we're all going to look back on this and wonder why we complained so much.

It's best to buy coins now.  They may fall a bit more to $600 as a new bottom...but coins are becoming more rare with each passing difficulty increase and a constant new influx of people and services wanting to use them.  The majority of the worlds big money investors still have yet to jump in.  People should be jumping in now before they do.

How is that becoming "rare" if 3600 BTC are being supplied every day?



Because that 3600 is spreading across fewer hands every day.  The demand is there.  But most people are stupidly putting it into mining equipment rather than buying coins direct.
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February 04, 2014, 06:26:43 PM
 #29298

we wait and will see
but i think that knc news
is bad for us

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February 04, 2014, 06:27:30 PM
 #29299



The relationship isn't 1:1 but they both affect each other psychologically.


the point is, if everyone goes out and pays $90,000 for 1Gh it ain't pushing the price of BTC up..  but if BTC price goes up, then the amount of money that will go into the miners goes up


~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
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February 04, 2014, 06:28:22 PM
 #29300

We had intended to sell Jupiters at the end of our Network Protection Program.
I thing they didn't stop with Jupiter, they do Jupiters for them self as part of Plan B (and Plan $$$$), where else they will have enough has protection power
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