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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3012808 times)
The Avenger
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February 09, 2014, 09:41:52 PM
 #29701

Is Sunday the day when everyone forgets what bitcoin is about?  Grin

the exchanges are in a far more leveraged position to sway the currency than any mining group even if they were mining all 3600 coins each day
Surely you aren't suggesting that if a centralised organisation controlled 100% of bitcoin network, things would work great? That a, let's call it, Central Bank, could be trusted to handle the network fairly for everyone and not manipulate it for easy gain, political reasons etc? That seems to 100% miss the point of why bitcoin was invented.


Where the machine is hosted doesn't matter...  Selecting the appropriate pool will decentralize BTC mining.
If someone had a massive share of the network hashrate (which is bad), the best things they could do is spread it over "pools" - not "pool". Spread it over as many pools as possible. Certainly not putting all that power in the hands of an "appropriate pool" (singular). Although someone in it for the money would probably find the pool where they can make the most money and point everything at that, just for sake of profit and damn the fundamental ideas behind bitcoin.

Pools are not a great idea, as they centralise and put too much power in the hands of a few. Why was there such a panic a few weeks ago when ghash got so big it looked like they were going to take 51%? Because it's a bad thing.

Maybe I've missed the point of what you guys were saying, but it seems to me the best situation for bitcoin is where a massive amount of miners all around the world are controlling the hashrate, not some centralised body, mining group or pool. The fact that very large pools and massive centralised mining monopolies have evolved is just the by-product of greed and not healthy for a decentralised crypto. If bitcoin fails, it will probably be because of this. KNC are doing their bit in fucking up bitcoin with their greed driven cloud hashing monopoly plans, as far as I'm concerned.

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February 09, 2014, 09:51:29 PM
 #29702


Surely you aren't suggesting that if a centralised organisation controlled 100% of bitcoin network, things would work great? That a, let's call it, Central Bank, could be trusted to handle the network fairly for everyone and not manipulate it for easy gain, political reasons etc? That seems to 100% miss the point of why bitcoin was invented.


I am talking price, you are talking destruction.   Of course destruction leads to $0. 

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February 09, 2014, 09:52:06 PM
 #29703

Is Sunday the day when everyone forgets what bitcoin is about?  Grin

the exchanges are in a far more leveraged position to sway the currency than any mining group even if they were mining all 3600 coins each day
Surely you aren't suggesting that if a centralised organisation controlled 100% of bitcoin network, things would work great? That a, let's call it, Central Bank, could be trusted to handle the network fairly for everyone and not manipulate it for easy gain, political reasons etc? That seems to 100% miss the point of why bitcoin was invented.


Where the machine is hosted doesn't matter...  Selecting the appropriate pool will decentralize BTC mining.
If someone had a massive share of the network hashrate (which is bad), the best things they could do is spread it over "pools" - not "pool" - as many pools as possible. Certainly not putting all that power in the hands of an "appropriate pool" (singular). Although someone in it for the money would probably find the pool where they can make the most and point everything at that, just for sake of profit and damn the fundamental ideas behind bitcoin.

Pools are not a great idea, as they centralise and put too much power in the hands of a few. Why was there such a panic a few weeks ago when ghash got so big it looked like they were going to take 51%? Because it's a bad thing.

Maybe I've missed the point of what you guys were saying, but it seems to me the best situation for bitcoin is where a massive amount of miners all around the world are controlling the hashrate, not some centralised body, mining group or pool. The fact that very large pools and massive centralised mining monopolies have evolved is just the by-product of greed and not healthy for a decentralised crypto.

Nothing to disagree about there.  But why then did KnC opt to build a miner that alone would need 15% more current than a US 20 amp circuit can handle.  Since US circuits, plug-in, excepting specialized circuits for driers or ovens, take a max of 20 amps they put it out of reach without extraordinary measures, e.g. calling in a licensed electrician to rewire the home.  They could have built 20nm miners of a size that draw one quarter the current.  Such a design decision, typically won't work in a US home, works against decentralized mining.  So, why did they go that way?

Come on, tell there's no Santa Clause.



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bkminer
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February 10, 2014, 01:05:32 AM
 #29704


Where the machine is hosted doesn't matter...  Selecting the appropriate pool will decentralize BTC mining.
 

Of course you're right IF each owner of their own little hash rate can pick a pool of their own choosing and trust that the owners of the equipment won't decide to use that power for some purpose.  The way cex.io works is seriously not good, but still if KnC lets everyone configure a pool, who's to say they, or even someone attacking the facility wouldn't re-route all of that hashing power to one place for a specific purpose. 

To me hosted mining is I take my 4 Jupiter's to a co-location facility with a machine to run P2Pool and have full KVM access and hopefully full physical access when I need it.

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February 10, 2014, 02:22:58 AM
 #29705

I'm holding my neptune orders....     no reason to cancel right now.    btc hits $250 then maybe  Smiley

I see plan b as a step in the right direction and the news shows how much faith they have in BTC, they could have sit back and pumped out 28nm chips to customers watching the money flow in and not invest anymore time and money into BTC infrastructure.   Its a gamble for them to do that where pumping out chips was a sure thing.




yeah that is true enough whatever you think about their methods/planning they are hanging their butt out there with the rest of us....they coulda just made
the bitcoin shovels and sat back and turned it into $$ ASAP

Searing

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February 10, 2014, 03:27:08 AM
 #29706

I did pretty well out of the Jupiters. I also ordered Neptunes. But when the silence became deafening I decided to get a refund. This was a about 2 days before the datacentre shenanigans. I think it was the right decision. Just too many suspect elements to 'Plan B'. KnC have lost their transparency. I think it will all end in tears. Happy to be wrong, but in the mean time, I'll content myself with Jupiters beavering away...
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February 10, 2014, 06:08:20 AM
 #29707

I did pretty well out of the Jupiters. I also ordered Neptunes. But when the silence became deafening I decided to get a refund. This was a about 2 days before the datacentre shenanigans. I think it was the right decision. Just too many suspect elements to 'Plan B'. KnC have lost their transparency. I think it will all end in tears. Happy to be wrong, but in the mean time, I'll content myself with Jupiters beavering away...

did u get a response or refund yet?

Yep, money has come through.
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February 10, 2014, 12:28:05 PM
 #29708

If that's the case then fuck their hosted 3TH plan B bullshit.  If the neptune delivery slips I am getting a refund and buying BTC.

Going on previous form, by the time they actually slip, they will declare that your order is 'in production', and refuse to refund you.

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February 10, 2014, 12:43:57 PM
 #29709

If that's the case then fuck their hosted 3TH plan B bullshit.  If the neptune delivery slips I am getting a refund and buying BTC.

Going on previous form, by the time they actually slip, they will declare that your order is 'in production', and refuse to refund you.


to be fair that was within 2 weeks if I remember correctly....and if they do that sometime before march 15th or so I'd be thrilled

but unlikely I grant you

Searing


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February 10, 2014, 01:48:13 PM
 #29710

I suppose folks should hope the current BTC price isn't where it's at when Neptunes hit.  Man that would blow.

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February 10, 2014, 03:14:24 PM
 #29711

I suppose folks should hope the current BTC price isn't where it's at when Neptunes hit.  Man that would blow.

I used a value of $600 in my calculations before I preordered. IMO if anyone is unhappy with the recent developments they should have done more research before ordering. Nothing really surprising has happened.

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February 10, 2014, 04:41:33 PM
 #29712

^-- One of the few voices of reason in here.

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February 10, 2014, 05:04:10 PM
 #29713

People, KNC looks at us only as a source if income and money. They want to suck as much money out of us as possible and really could care less about what we think. Every single decision they make has been in their best interest financially and not for any community. Heck, that's why they got into the business to make money. I'm surprised my Jupiter went from .5 coin a day to today is only .08. And that was only since November. This network is growing so fast, isn't really regulated and can't be stopped like our native banking institutions. I'll be getting ready to turn my Jupiter off soon since what I'm making with it won't even pay for electricity soon. Then take into account the BTC crash we are seeing now it's just compounding the pressure for an explosion at one point. When I woke up this morning to check preev and saw $630 my jaw dropped. I'm thinking we could see a pretty big drop, all the way down to $200 or less pretty soon. Well, maybe a lot of people will buy bitcoin now which would hopefully drive it up a bit?

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February 10, 2014, 05:36:48 PM
 #29714

I'm one of the ones hoping it tanks temporarily, for a good buy-in period haha.

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February 10, 2014, 05:45:22 PM
 #29715

I suppose folks should hope the current BTC price isn't where it's at when Neptunes hit.  Man that would blow.

I used a value of $600 in my calculations before I preordered. IMO if anyone is unhappy with the recent developments they should have done more research before ordering. Nothing really surprising has happened.

and those said calculations are??    Roll Eyes

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February 10, 2014, 08:50:51 PM
 #29716

People, KNC looks at us only as a source if income and money. They want to suck as much money out of us as possible and really could care less about what we think. Every single decision they make has been in their best interest financially and not for any community. Heck, that's why they got into the business to make money. I'm surprised my Jupiter went from .5 coin a day to today is only .08. And that was only since November. This network is growing so fast, isn't really regulated and can't be stopped like our native banking institutions. I'll be getting ready to turn my Jupiter off soon since what I'm making with it won't even pay for electricity soon. Then take into account the BTC crash we are seeing now it's just compounding the pressure for an explosion at one point. When I woke up this morning to check preev and saw $630 my jaw dropped. I'm thinking we could see a pretty big drop, all the way down to $200 or less pretty soon. Well, maybe a lot of people will buy bitcoin now which would hopefully drive it up a bit?


Your electricity must be REALLY expensive.

By my calculations you are making $1500 a month at today's rates.
Even if the power to run it was $200 a month you should be mining for a few more months.

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February 11, 2014, 02:06:03 AM
 #29717

so hashrate went up 1/3rd in 30 days?



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February 11, 2014, 02:33:32 AM
 #29718

What does "3 to 10 business days" usually translate to?
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February 11, 2014, 02:57:16 AM
 #29719

What does "3 to 10 business days" usually translate to?

In spanish: 3 a 10 días laborables
french: 3 à 10 jours ouvrables
chinese: 3至10個工作日


Does this help?

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February 11, 2014, 03:41:46 AM
 #29720

What does "3 to 10 business days" usually translate to?

In spanish: 3 a 10 días laborables
french: 3 à 10 jours ouvrables
chinese: 3至10個工作日


Does this help?

I would be particularly interested in the Swedish interpretation of the term.
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