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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3011276 times)
davewr2013
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February 06, 2014, 01:36:02 PM
 #29541



What do you think you are saying???

This system doesn't work if people can only use it to move small amounts of money. Nobody will care about it at all at $10. Wanting the price of bitcoin to crash to ten dollars and end the entire crypto industry because of some spiteful jealousy over what KNC and other large miners are doing is ridiculous. Don't forget, nobody will mine it at $10, and nobody will pay giant transaction fees, so the entire system dies.

BTC works fine at $100 or $10 you miss the point..  right now how many coins do you think are really in circulation anyway?  Only a fraction... so if more and more folks start to spend their coins instead of hoarding then the price will drop by a lot

You have the ~$800 price from churn and velocity of a fraction of coins right now..  I rather believe more use of the coin at a lower price is healthier for its life.. uber miners like KNC et all can choke on their insane diff pushing hashpower..  that arms race means nothing for btc's utility.. the same amount of blocks stays constant ya know


Here are some math problems to amuse you...

For arguments sake consider only the USA -- since numbers are so easily available?

What is the US debt?  (About $17T ?).
What value would the BTC need to be to cover the US debt -- using only the amount in current circulation?
What value would the BTC need to be to cover the US debt if all BTC were available.

What BTC value would cover the current US GDP?

What BTC value would cover the value of all assets in the US.


Now repeat all the calculations for the European community and the Chines and the Japanese -- for example.

Heck, even do Canada and Australia in isolation.

GDP Numbers here:
http://data.worldbank.org/indicator/NY.GDP.MKTP.CD

If the BTC value won;t even handle Canadian economic activity -- is it of any value to anyone?


A BTC value of $10 makes it worthless as a substantive currency -- in anyone's book.

Do the math.

Cheers!

Give me this day my daily Bitcoin...
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davewr2013
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February 06, 2014, 01:40:45 PM
 #29542

Here is another site to amuse people while they calculate:
http://www.economist.com/content/global_debt_clock

So if BTC cannot handle the smallest economy how will damaging KNC or lowering the price of BTC help anyone? Any idea?

Give me this day my daily Bitcoin...
The Avenger
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February 06, 2014, 01:43:06 PM
 #29543

The news are in Swedish so use google translate.
It shows kncminer new location in an old helicopter hangar in Boden not Luleå.

http://www.idg.se/2.1085/1.545516/bitcoingravare-oppnar-gruva-i-boden
http://www.idg.se/2.1085/1.545367/helikopterhangar-blir-datahall-i-boden

First post on this forum.
Hello fellow miners!


Great work murmeln!

The story only gets better.

Site characteristics
Former secure military industrial buildings now zoned for industrial and office use, with a concrete and steel structure, and a wall cladding of steel.

"All your bitcoin are belong to us - and will send some hellfire missiles after you if you come looking for an RMA"  Grin

"I am not The Avenger"
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The Avenger
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February 06, 2014, 01:48:11 PM
 #29544


Woohoo!

https://maps.google.co.uk/maps?q=N65%C2%B048.200%27+E21%C2%B041.100%E2%80%99&hl=en&ie=UTF8&ll=65.806988,21.681727&spn=0.003641,0.033023&sll=53.800651,-4.064941&sspn=11.879031,33.815918&t=m&z=16&layer=c&cbll=65.806988,21.681727&panoid=rmqT3F2CPCDR-tJ4UZERHg&cbp=11,251.87,,0,-5.38

"I am not The Avenger"
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vesperwillow
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February 06, 2014, 01:52:06 PM
 #29545

TGB's 60 and 90 day estimates aren't garbage, they've done fairly well over the last few months. Back in September it was showing about a billion for January, and that wasn't far off.

So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

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February 06, 2014, 02:12:29 PM
 #29546

News just in:
http://www.globalsecuritymag.com/KnC-Miner-to-build-10-MW,20140206,42773.html

Quote
KnC Miner commenced building the facility only five days ago, but expects it to be fully operational already within the next few months. There are around 30 people working around the clock with the setup in order to ensure no time is wasted. KnC are also already in discussions with local authorities regarding the establishment of even larger facilities in the local area already later this spring, which would then bring even more business to the local community.

Man, I'd love to know how much they paid for it.

Edit: Answered my own question, sorta. They rent.
http://sverigesradio.se/sida/artikel.aspx?programid=98&artikel=5774907
Quote
Much of the establishment is still shrouded in mystery but Boden Councillor Bosse Strömbäck confirms that the municipality that owns the property now rents it out.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

"I am not The Avenger"
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vesperwillow
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February 06, 2014, 02:24:10 PM
 #29547

Man, I'd love to know how much they paid for it.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

Well, with the 36M/usd they took in, subtract 4M for the 20nm fab, then subtract about 1.5k per Neptune (buffered price), and you're left with 26.6M/usd. Not counting the amount they've mined.. they seem well off.

I wonder how well off most of their Batch 1/2 customers are, who have been clearly used as doormats and stepping stones.

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February 06, 2014, 02:26:45 PM
 #29548

News just in:
http://www.globalsecuritymag.com/KnC-Miner-to-build-10-MW,20140206,42773.html

Quote
KnC Miner commenced building the facility only five days ago, but expects it to be fully operational already within the next few months. There are around 30 people working around the clock with the setup in order to ensure no time is wasted. KnC are also already in discussions with local authorities regarding the establishment of even larger facilities in the local area already later this spring, which would then bring even more business to the local community.

Man, I'd love to know how much they paid for it.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

10 MW @ 1W/GH = 10Th? 100TH? Seems fine by me with 100TH.

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
Phoenix1969
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February 06, 2014, 02:30:17 PM
 #29549

Got a reply about the invoice.....  they are building a new invoicing system... and the one sent to me was some kind of prelim-test.
Probably in prep for the hosted offers...  or yet another batch?    just a guess.
 Here's a translate of the linked article posted a bit ago



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The Avenger
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February 06, 2014, 02:32:13 PM
 #29550

10 MW @ 1W/GH = 10Th? 100TH? Seems fine by me with 100TH.
Yeah. A nov jup is about 1.2kw, so that's only about 8000 Jupiters. Only, he said.

Quite a bit more than 5% I'd say.

But of course, it's only to give their neptune customers free hashing in case of delays. And then they are melting down all the old jupiters for scrap metal.

"I am not The Avenger"
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RoadStress
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February 06, 2014, 02:40:31 PM
 #29551

10 MW @ 1W/GH = 10Th? 100TH? Seems fine by me with 100TH.
Yeah. A nov jup is about 1.2kw, so that's only about 8000 Jupiters. Only, he said.

Quite a bit more than 5% I'd say.

But of course, it's only to give their neptune customers free hashing in case of delays. And then they are melting down all the old jupiters for scrap metal.

A nov jup is NOT 1.2kW. I remember i saw people drawing ~800-900W.

So 10MW=1000kW= ~8000 TH? Is this right?(that's about 1/3 of total hashrate) I'm bad at math.

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
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Phoenix1969
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February 06, 2014, 02:41:01 PM
 #29552

scary being the lot pictured is still bare....   I hope its another lot...  one that has been developed a bit more....lol


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February 06, 2014, 02:43:35 PM
 #29553


So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

what were your projections on price?   you don't understand price discovery..  if a penny stock only lets out a small float with hype and then later releases many more shares, the price goes into a slow decline which is what we will see for a long time.  The amount of bitcoins in play are increasing with utility and continued mining.


cloudhashing is a scam..  buying is always cheaper.   good luck finding enough suckers knc

~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
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February 06, 2014, 02:48:08 PM
 #29554


So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

what were your projections on price?   you don't understand price discovery..  if a penny stock only lets out a small float with hype and then later releases many more shares, the price goes into a slow decline which is what we will see for a long time.  The amount of bitcoins in play are increasing with utility and continued mining.


cloudhashing is a scam..  buying is always cheaper.   good luck finding enough suckers knc
My spin on it....
The 3500 btc per day isn't going to increase, it's going to decrease by 1/2 every 4 years. With all the new miners getting shipped... the present 3500 will be spread thinner & thinner, creating a greater demand, which raises the price. I expect it to be ongoing for years... and as adoptation sweeps the globe....  thinner....thinner


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February 06, 2014, 02:48:12 PM
 #29555


So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

what were your projections on price?   you don't understand price discovery..  if a penny stock only lets out a small float with hype and then later releases many more shares, the price goes into a slow decline which is what we will see for a long time.  The amount of bitcoins in play are increasing with utility and continued mining.


cloudhashing is a scam..  buying is always cheaper.   good luck finding enough suckers knc

I agree with you
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February 06, 2014, 02:48:32 PM
 #29556

A nov jup is NOT 1.2kW. I remember i saw people drawing ~800-900W.

So 10MW=1000kW= ~8000 TH? Is this right?(that's about 1/3 of total hashrate) I'm bad at math.
Sheesh. I said ABOUT 1.2kw, I didn't say WAS 1.2kw. They recommend 1.2kw psu, so that's where the figure comes from.

If it were (not IS) 1kw per nov jup, then they could power probably 9500 Nov Jupiters (ISH, factoring in other equipment and losses etc).

9500x650GH = ~ (< engineering symbol for "roughly") 6000TH

KNC have sold 3600x3TH machines, which is 10800TH

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February 06, 2014, 02:50:49 PM
 #29557

10 MW @ 1W/GH = 10Th? 100TH? Seems fine by me with 100TH.
Yeah. A nov jup is about 1.2kw, so that's only about 8000 Jupiters. Only, he said.

Quite a bit more than 5% I'd say.

But of course, it's only to give their neptune customers free hashing in case of delays. And then they are melting down all the old jupiters for scrap metal.

A nov jup is NOT 1.2kW. I remember i saw people drawing ~800-900W.

So 10MW=1000kW= ~8000 TH? Is this right?(that's about 1/3 of total hashrate) I'm bad at math.
close enough

10,000,000 watts / 750 watts for jupiter = 13,333 jupiters
13,333 * 650 = 8,450,000 GH/s
8,450TH/s

next possible news letter from KNC......
'better save some coins handy for KNC bitcoin mining farm.'  Tongue

if can beat them, join them
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February 06, 2014, 03:20:23 PM
 #29558

if can beat them, join them
I bet Sam said something like that when he marched into the knc customer service department and told them they were all going on holiday - to the arctic circle to build a datacentre Grin


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February 06, 2014, 03:20:37 PM
 #29559

I pity highschoolers who have to call others names in order to make a point.
That said,  three months projection is NOT a 3 year projection, duh!
70-80% monthly projection made 3 months ago by the referenced site turned out to be pretty accurate, but go ahead, make a better one....crickets.
Three months ago the calculator was at ~103%.  It predicted a difficulty of 4B for Jan and 8B for February.  Get your facts straight.
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February 06, 2014, 03:21:42 PM
 #29560


So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

what were your projections on price?   you don't understand price discovery..  if a penny stock only lets out a small float with hype and then later releases many more shares, the price goes into a slow decline which is what we will see for a long time.  The amount of bitcoins in play are increasing with utility and continued mining.

cloudhashing is a scam..  buying is always cheaper.   good luck finding enough suckers knc

I have never made official projections on the price of BTC because it's far too young and volatile right now. I was shocked to see it rise as much as it did this early into the game, I will say that much, so my thoght is in line with what you're saying. I just think it's a moot point right now.

I'm almost convinced the pump in price was done through market manipulation by certain groups which have large holdings of BTC and plenty of mining power. There is a pattern to price flux and equipment purchases if you look at it closely. Price goes high when there's a trend in equipment purchase in Asia, and is low before and after. It seems like some people are basically just giving themselves discounts on more hashpower, but that's for another speculation forum.

My difficulty estimates for months have been almost spot-on, except the jump in December where I overshot it due to an unnamed company  not shipping.

Almost every call myself and a few others have made on KNC, weeks and months in advance, has been accurate as well--the good and the bad. It pays to be more of an observer than anything with regard to these startup companies.

Buying and trading has done me well also. I've made more with those methods (especially scrypt coins->btc), than by simply mining. Mining for "serious profit" went out the window long ago. Miners from here on out are just going to be like highway overpass supports--supporting the network, but overlooked and underpaid, certainly not making profits.

Until such time as BTC value actually takes off. The demand simply isn't there right now, there's far more supply than demand or utility.

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