Swedish ASIC miner company kncminer.com

[Syke]

Lol.. I did, 3 months ago.. 2 months ago.. a month ago.. Several of us did, the folks who didn't preorder, and some folks recently who cancelled. BTC at $1k/USD with a conservative difficulty, Neptunes would never ROI (regain the BTC spent), unless they were delivered by March-April. May pushed you into "youd get most of your BTC back but not all". Beyond that it was just dead weight.

Don't worry about the difficulty, it levelled off 4 months ago. If Bitcoinorama was still around, he'd tell you the same thing:

Dude the hashrate is about to level out for a bit not, continue growing like this for a while.

[soy]

fair enough, in that case don't be so lazy, do your own numbers 

Lol.. I did, 3 months ago.. 2 months ago.. a month ago.. Several of us did, the folks who didn't preorder, and some folks recently who cancelled. BTC at $1k/USD with a conservative difficulty, Neptunes would never ROI (regain the BTC spent), unless they were delivered by March-April. May pushed you into "youd get most of your BTC back but not all". Beyond that it was just dead weight.

This presumed you paid for your electrical costs. Pushing those aside gave you half a month.

Some of us had varying estimates for difficulty. Mine presumed 7-10PH would come online before delivery, and I was scoffed at. Not so much anymore eh?

So yeah.. love to see the hard numbers which can make them profitable, not just upon delivery, but all year.

All the numbers are in a spreadsheet and I'm not aware if this forum's software allows posting a spreadsheet. Even so, it may or may not be a competitive advantage, so consider it a trade secret.

It's not hard to go to your sheets and let us know what your estimates for each month will be for: Difficulty, BTC value. That will dictate ROI. 5 data points would be sufficient. Trade secret? Wow.. alrighty. Your previous Executive-styled post about how all of us were basically off our rockers is one thing, but to claim you know the future of this year based on hard numbers and then to say they're a secret?

Definitely puts you in a class of your own.

Thanks for the laugh.

No sir, no sir.. thank you!

I wasn't telling anyone they were off their rockers, I was simply stating what I was doing and what my determination was and basically how I arrived there.

As to data points, as someone else said, do your own numbers. Interestingly I've been seeing the prediction for the next diff actually decrease over the past week, not increase. That's been a bit of a surprise.

Thanks for the confirmation I'm in a class of my own. Friends that have known me for decades would agree with you.

magicmoneyprintingmachine.itis is just getting started.  in a lousy economy, the prospect of a magicmoneyprinter will be just too tempting.

[1Neptune]

magicmoneyprintingmachine.itis is just getting started.  in a lousy economy, the prospect of a magicmoneyprinter will be just too tempting.

I've got a box that I paid about $1700 to build that's generated $1080 after it paid for itself first. No magic, just math... and electricity. Oh, it works good as a heater in winter too. It doesn't replace the day job but at least it's a profitable hobby.

[soy]

magicmoneyprintingmachine.itis is just getting started.  in a lousy economy, the prospect of a magicmoneyprinter will be just too tempting.

I've got a box that I paid about $1700 to build that's generated $1080 after it paid for itself first. No magic, just math... and electricity. Oh, it works good as a heater in winter too. It doesn't replace the day job but at least it's a profitable hobby.

Right, unfortunately that's even more tempting to some - the rising difficulty notwithstanding.  And once they pay out money for a miner they'll keep it hashing as long as possible for two reasons, it has to make its cost back and btc might hit $40k according to those very rich brothers, also that with increasing difficulty it makes more sense to keep it running in the present rather than shut it down hoping the difficulty will drop.  I don't see those things changing.

I wonder what percentage of the network hashrate is in homes, garages and backyard sheds and what percentage is in rental or owned commercial facilities as full fledged businesses.

[sickpig]

I wonder what percentage of the network hashrate is in homes, garages and backyard sheds and what percentage is in rental or owned commercial facilities as full fledged businesses.

dunno about hashrate distribution, but my gut feeling is telling that the trend is moving toward commercial facilities

[murraypaul]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

When is the farm 'ready'?
When the first unit goes in? When they have enough hashing power to replicate all Neptunes ordered?
Yes I think they will hash for themselves (or sell cloud hashing), why on earth wouldn't they.
They've offered you cloud hashing if your unit is late. Late means not Q1/Q2.

[Biodom]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

When is the farm 'ready'?
When the first unit goes in? When they have enough hashing power to replicate all Neptunes ordered?
Yes I think they will hash for themselves (or sell cloud hashing), why on earth wouldn't they.
They've offered you cloud hashing if your unit is late. Late means not Q1/Q2.

Q1/Q2 does not mean June 30 by any reasonable means. I doubt that they will take this position. It is now documented that center is expected to be ready on Match 12 or about. To expect that they will hash for themselves until June 30 and leave everybody on a lurch is simply not reasonable. Nobody will ever deal with them afterwards. In addition, they want you hooked for years. Starting on July 1, 3th/s will NEVER produce $13200 in bitcoin without crazy bitcoin appreciation (To 3-4k). I think that KnC wants customers to make money, otherwise this would be their last sell.

Think about another point: it has been pointed out that they offered a few people refund in bitcoin. This means two things: a. they have plenty of bitcoin, which probably means that they are actively hashing and b. CUSTOMERS will get more bitcoins than are currently offered as refund, otherwise refunding in bitcoin does not make sense.

As you can see, i am trying to give KnC the benefit of the doubt. I will decide what to do once the timelines are clearer.

[jermwerty]

Starting on July 1, 3th/s will NEVER produce $13200 in bitcoin without crazy bitcoin appreciation (To 3-4k).

LOL @ "crazy bitcoin appreciation"

Umm HELLO, bitcoin HAS that potential!  It HAS done that repeatedly!  (think $26 fall to $5, $270 fall to $80, now $1200 fall to $600 ... guess what happens NEXT IN THIS CYCLE?! - $4K IS very realistic...)

Everyone buying original KnC units only made money because bitcoin appreciated a bunch in the first place!

I just remember with Avalons the consensus was those ASICS would "not be profitable above 2 billion difficulty" around the time they were purchased.  Umm we are over 2 billion today, do you think any of those Avalons have been shutoff?   LOL

[soy]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

When is the farm 'ready'?
When the first unit goes in? When they have enough hashing power to replicate all Neptunes ordered?
Yes I think they will hash for themselves (or sell cloud hashing), why on earth wouldn't they.
They've offered you cloud hashing if your unit is late. Late means not Q1/Q2.

Yes, I'm sure they're just breaking in those Arctic tower fans.

[1Neptune]

Well item# 281265558529 just ended on ebay, a batch 0 Neptune, if the listing is correct, for $10,000 which means the original purchaser lost money on the deal. He should've refunded instead or let the auction run more than four hours.

[ImI]

Are they refunding via BTC or wire?

[1Neptune]

Are they refunding via BTC or wire?

According to earlier posts by others, both.

[ImI]

Are they refunding via BTC or wire?

According to earlier posts by others, both.

So i could choose?

[1Neptune]

Are they refunding via BTC or wire?

According to earlier posts by others, both.

So i could choose?

Don't know. You'd have to ask KnC.

[Searing]

Are they refunding via BTC or wire?

According to earlier posts by others, both.

So i could choose?

i'd probably get it in USD myself but what do i know

me...i'm considering buying it at these prices.....the assumption being that
tech issues on the coin and mtgox other exchanges will work themselves out

Searing

[DPoS]

since KNC killed this thread with no more miners...  there's a few lulz within the cointerra user guide

http://cointerra.com/user-guide/

see if you can spot them all.. also, I couldn't find the section instructing the user on how to get ROI..  must not be included in this model

[edgar]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

When is the farm 'ready'?
When the first unit goes in? When they have enough hashing power to replicate all Neptunes ordered?
Yes I think they will hash for themselves (or sell cloud hashing), why on earth wouldn't they.
They've offered you cloud hashing if your unit is late. Late means not Q1/Q2.

Q1/Q2 does not mean June 30 by any reasonable means. I doubt that they will take this position. It is now documented that center is expected to be ready on Match 12 or about. To expect that they will hash for themselves until June 30 and leave everybody on a lurch is simply not reasonable. Nobody will ever deal with them afterwards. In addition, they want you hooked for years. Starting on July 1, 3th/s will NEVER produce $13200 in bitcoin without crazy bitcoin appreciation (To 3-4k). I think that KnC wants customers to make money, otherwise this would be their last sell.

Think about another point: it has been pointed out that they offered a few people refund in bitcoin. This means two things: a. they have plenty of bitcoin, which probably means that they are actively hashing and b. CUSTOMERS will get more bitcoins than are currently offered as refund, otherwise refunding in bitcoin does not make sense.

As you can see, i am trying to give KnC the benefit of the doubt. I will decide what to do once the timelines are clearer.

id say june 30th is the ABSOLUTE EARLIEST we would see anything... we have received late on every single 'batch' they ve ever released despite promises and expectations.

its all been lies.. lies to squeeze as much money out of us as possible.

i wanted to believe, and voted with my wallet.

now i am just disgusted, just like i am with avalon, bfl, hashfast, and especially all the scammers & shills!!

dis-gus-ted!!

[Nemo1024]

I've asked for a refund of Neptune last week, and got the money back today. Quick and professional customer service.
My main concern was that according to this calculator http://btcinvest.net/en/bitcoin-mining-profit-calculator.php, the miner would need to come on line end of March at the latest to break even. I'll be watching KnC's foray into cloudhashing with interest, and maybe buy shares from them if they would appear to be at least a little profitable.

In the meantime, the fiat money that I got refunded got redirected strait back to Bitstamp, and if the price on Monday/Tuesday stays about the same as today, I will have made BTC6 of pure profit.

[murraypaul]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

When is the farm 'ready'?
When the first unit goes in? When they have enough hashing power to replicate all Neptunes ordered?
Yes I think they will hash for themselves (or sell cloud hashing), why on earth wouldn't they.
They've offered you cloud hashing if your unit is late. Late means not Q1/Q2.

Q1/Q2 does not mean June 30 by any reasonable means. I doubt that they will take this position.

Why?
How much earlier than promised were Jupiters delivered?
If they deliver on June 30th they are not technically late.

[dimaze]

Update:

All,
As we are getting closer to the launch date of Neptune. We are able to release more of the products as we are still on track. So today there are now 1000 more products in the shop. This is the second half batch two and will ship alongside the first half.
This batch will also be covered by our online hashing (Plan B), if we are late we will simply give you a choice of converting to our online hosted hashing of 3TH from our facilities if you wish to
Thanks

Neptune here, referral disclaimer