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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3041731 times)
Searing
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March 01, 2014, 09:27:05 AM
 #30461

Been away for a while.  I am confused.  Why do ppl want a btc refund?  Take cash and buy more btc than you had before.  Hasn't spot been mostly $800-1000 during most of the Neptune pre-order period?

When BTC turn into cash its a taxable event.

When more than $10k gets transferred into your account in the U.S. it fires off a red flag to the IRS

That is why KNC should refund back in the form it was paid in. But they are doing the opposite so that they can have credit for refunding in fiat. The more they have in BTC and the less they have in fiat the better they are too (less taxable events)



KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing

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March 01, 2014, 09:33:41 AM
 #30462

Been away for a while.  I am confused.  Why do ppl want a btc refund?  Take cash and buy more btc than you had before.  Hasn't spot been mostly $800-1000 during most of the Neptune pre-order period?

When BTC turn into cash its a taxable event.

When more than $10k gets transferred into your account in the U.S. it fires off a red flag to the IRS

That is why KNC should refund back in the form it was paid in. But they are doing the opposite so that they can have credit for refunding in fiat. The more they have in BTC and the less they have in fiat the better they are too (less taxable events)



KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley
It was written here in December and in KNC update payment in BTC refund in USD for neptunes pre pre pre orders same like the fact the 3Thas won't give you the btc back and due high diff will btc drop

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merv77
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March 01, 2014, 09:54:15 AM
 #30463

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.
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March 01, 2014, 10:04:04 AM
 #30464

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

It's a principle at least as old as Rome in the common law: A unilateral change to a contract is not valid. Unless you're a government, then such things as morality and ethics have no meaning anyway.

Don't sign nothin' without a lawyer vetting it. YOUR lawyer, not KNC's.

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March 01, 2014, 12:04:54 PM
 #30465

I asked if the miners could be taken out of hosting and sent to me early, i then got told this could not happen and the miners were to stay in hosting until the hosting contract has ran out........ seems most strange to me, unless they are running extra boards from my control boards or they have over clocked my boards and i just get a % of the generated hashrate. Either way, i did not like being told i could not have what i paid for, until another service i had paid for runs out.

Hosted jupiters are probably ASIC boards on a shelf
Flashman
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March 01, 2014, 12:25:37 PM
 #30466

I have been having some off communications with KnC also lately. Two hosted miners have been dropping in speed from 550 down to 500.
KnC say the engeneers check them and all is fine and hashing at 550, that's not what the pool ever says.

I asked if the miners could be taken out of hosting and sent to me early, i then got told this could not happen and the miners were to stay in hosting until the hosting contract has ran out........ seems most strange to me, unless they are running extra boards from my control boards or they have over clocked my boards and i just get a % of the generated hashrate. Either way, i did not like being told i could not have what i paid for, until another service i had paid for runs out.

Doesn't take much in variance or slight network problems to swing pool hash by +/- 10%

But that's a little worrying that they can't send your Jupiters out to you, though I would suspect it could be that they have to disassemble an entire rack, take 10 Jupiters offline or something to get your two out, and they've racked them with Jupiters that were contracted for the same time.

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March 01, 2014, 01:11:40 PM
 #30467

Any one experienced any difficulties or major improvements with the latest firmware upgrade?
https://www.kncminer.com/news/news-77
kendog77
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March 01, 2014, 01:19:21 PM
 #30468

Any one experienced any difficulties or major improvements with the latest firmware upgrade?
https://www.kncminer.com/news/news-77

Yes, the latest firmware added a overclocking feature that increased the hashrate of my November Jupiters by ~75GH each. This is a good firmware upgrade for November Jupiters, but doesn't do much for October Jupiters.
elasticband
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March 01, 2014, 01:22:52 PM
 #30469

I asked if the miners could be taken out of hosting and sent to me early, i then got told this could not happen and the miners were to stay in hosting until the hosting contract has ran out........ seems most strange to me, unless they are running extra boards from my control boards or they have over clocked my boards and i just get a % of the generated hashrate. Either way, i did not like being told i could not have what i paid for, until another service i had paid for runs out.

Hosted jupiters are probably ASIC boards on a shelf


The positioning of those screw fixtures are quite strange I have to say. They look like diagonal variants of the positions in the jupiters, 4 x board 2 x heatsink but diagonal.

I am aware my boards are just on a shelf, this s how i had 9 x 8vrm boards set up personally.
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March 01, 2014, 01:26:44 PM
 #30470

The shelves all appear to have psu Ready to be set up.

Any links to the pic source.  I have not been following the last few weeks
Paladin69
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March 01, 2014, 03:43:47 PM
 #30471

Any one experienced any difficulties or major improvements with the latest firmware upgrade?
https://www.kncminer.com/news/news-77

Yes, the latest firmware added a overclocking feature that increased the hashrate of my November Jupiters by ~75GH each. This is a good firmware upgrade for November Jupiters, but doesn't do much for October Jupiters.

Just installed the firmware on my worst performing November Jupiter.  Runs @ 560gh

Can't seem to find the "overclock feature" unless you are referring to adjusting power usage per die?

This looks different than the October machines.  Does die 1 control 0 & 1?  die 2 = 2 & 3, etc?  After looking below, what would you recommend I tweak to try and wake some of those zeroes up?

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March 01, 2014, 03:49:58 PM
 #30472

Been away for a while.  I am confused.  Why do ppl want a btc refund?  Take cash and buy more btc than you had before.  Hasn't spot been mostly $800-1000 during most of the Neptune pre-order period?

When BTC turn into cash its a taxable event.

When more than $10k gets transferred into your account in the U.S. it fires off a red flag to the IRS

That is why KNC should refund back in the form it was paid in. But they are doing the opposite so that they can have credit for refunding in fiat. The more they have in BTC and the less they have in fiat the better they are too (less taxable events)


Bad news.  It was a taxable event when you PURCHASED the miner, NOT when you refunded it.

Even if you keep your order, it's still taxable

There are tax provisions for buying an investment that for some reason becomes delayed and then isn't taxable until after the delay which, by the way I read it, would apply to buying the Neptune in 2013 then getting the refund in 2014.  Haven't finished reading the taxes booklets yet (one here 284 pages) but I'm guessing a 2013 form 1099-(one or another of the 1099's) or perhaps f8949.  Never having done the long form before it looks like one is suppose to preemptively file like an employer withholding taxes and should have filed last year.  Can't use the downloadable forms in these cases as they need barcodes.  The 1040 is for 2013.  Mail order request of any of the 1099's come dated 2014 so I expect I'll need specifically request mail-order 1099's or f8949's and file the few bitcoin cash-in's or barters on 2013 forms and the Neptune refund on a 2014 form.  If they get back that this isn't allowed, apparently one may make post-dated IRA contributions so that will mitigate the 2013 tax liability.
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March 01, 2014, 03:57:30 PM
 #30473

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

Delusional?  What, did you lose too much weight too quickly?  How.  My dreadmill may keep me healthy but doesn't really address the midrift weight of insulin resistance.  Maybe I should get a big blue ball for sitting on at my desk.
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March 01, 2014, 04:09:48 PM
 #30474

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

Delusional?  What, did you lose too much weight too quickly?  How.  My dreadmill may keep me healthy but doesn't really address the midrift weight of insulin resistance.  Maybe I should get a big blue ball for sitting on at my desk.

what Huh  Undecided
merv77
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March 01, 2014, 04:14:37 PM
 #30475

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

It's a principle at least as old as Rome in the common law: A unilateral change to a contract is not valid. Unless you're a government, then such things as morality and ethics have no meaning anyway.

Don't sign nothin' without a lawyer vetting it. YOUR lawyer, not KNC's.

There is nothing on KNC that says that they 'don't refund',  or have I missed something

they did have a point in details of first batch that did say they do give refunds,
but removing/deleting this point on other batches doesn't mean that your not entitled to a refund either.  no?

edit.  I never signed or agreed to any ToC's either
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March 01, 2014, 04:24:07 PM
 #30476

Any one experienced any difficulties or major improvements with the latest firmware upgrade?
https://www.kncminer.com/news/news-77

Yes, the latest firmware added a overclocking feature that increased the hashrate of my November Jupiters by ~75GH each. This is a good firmware upgrade for November Jupiters, but doesn't do much for October Jupiters.

Just installed the firmware on my worst performing November Jupiter.  Runs @ 560gh

Can't seem to find the "overclock feature" unless you are referring to adjusting power usage per die?

This looks different than the October machines.  Does die 1 control 0 & 1?  die 2 = 2 & 3, etc?  After looking below, what would you recommend I tweak to try and wake some of those zeroes up?



You can adjust the core speed of each die via the pull down box that says 900 MHz in the picture you posted.
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March 01, 2014, 04:27:50 PM
 #30477

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

Delusional?  What, did you lose too much weight too quickly?  How.  My dreadmill may keep me healthy but doesn't really address the midrift weight of insulin resistance.  Maybe I should get a big blue ball for sitting on at my desk.

what Huh  Undecided

Sorry.  That was my attempt at a light joke.  Saw three photos of Karpeles, overweight on the big blue ball, the photo of him declaring bankruptcy, and a third taken sometime between the two where he seems actually thin.  It would appear he lost a lot of weight quickly then put some back on.  Almost any effective fast weight loss scheme causes insomnia and an extended period of insomnia can cause delusional thinking.
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March 01, 2014, 04:35:10 PM
 #30478

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in. Smiley

on that note is it true that the 3rd batch of knc miners (the ones they are selling now) don't have a refund?

somehow i can't seem to get an answer to this (or it is obviouse someplace and i read over it)

thanks
Searing


If every thing goes to plan then I can see them saying no to refunds, but if miners change from physical to virtual or there is a delay in production then they cannot/should not refuse a refund.

I really couldn't care if they say 'no refunds' in the terms, if they can't produce in a timely manner then they have to refund if they like it or not.

I might be delusional but this is how I see it.

Delusional?  What, did you lose too much weight too quickly?  How.  My dreadmill may keep me healthy but doesn't really address the midrift weight of insulin resistance.  Maybe I should get a big blue ball for sitting on at my desk.

what Huh  Undecided

Sorry.  That was my attempt at a light joke.  Saw three photos of Karpeles, overweight on the big blue ball, the photo of him declaring bankruptcy, and a third taken sometime between the two where he seems actually thin.  It would appear he lost a lot of weight quickly then put some back on.  Almost any effective fast weight loss scheme causes insomnia and an extended period of insomnia can cause delusional thinking.

for a minute i thought you were a little delusional... LOL

 Grin   Cheesy
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March 01, 2014, 04:45:39 PM
 #30479

Any one experienced any difficulties or major improvements with the latest firmware upgrade?
https://www.kncminer.com/news/news-77

Yes, the latest firmware added a overclocking feature that increased the hashrate of my November Jupiters by ~75GH each. This is a good firmware upgrade for November Jupiters, but doesn't do much for October Jupiters.

Just installed the firmware on my worst performing November Jupiter.  Runs @ 560gh

Can't seem to find the "overclock feature" unless you are referring to adjusting power usage per die?

This looks different than the October machines.  Does die 1 control 0 & 1?  die 2 = 2 & 3, etc?  After looking below, what would you recommend I tweak to try and wake some of those zeroes up?



You can adjust the core speed of each die via the pull down box that says 900 MHz in the picture you posted.

What would you recommend?  And WOW my miners are all eating shit right now with the default settings.  450GH across the board for Nov Jups.
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March 01, 2014, 04:48:01 PM
Last edit: March 01, 2014, 05:59:59 PM by Gator-hex
 #30480

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or the buy a nice house in Russia/South America. Grin

I would probably disagree on fraud. In some sense it is now irrelevant because they will certainly pre-mine a lot of BTC at datorhall before giving us anything. Getting 3th late in 2nd Q would be largely meaningless because of the difficulty increase caused by the datacenter/datorhall/"Death Star".

Is it ethical or even legal to injure your own customers?
Datorhall is at 1.8Th right now, which is ~7% of all network, therefore the current total mining income of Jupiter/Saturn customers was reduced 7% because of this buildup-this is for certain. The new data center already mined ~3000BTC in less than 3 wk.

Perhaps we are too harsh and KnC will deposit proportional BTC (datorhall income-expenses) for each Neptune+Jupiter customer.
If they do that-I would be amazed, but what is the chance of someone doing what is right and not the most profitable? You tell me  Undecided.

Quote
"What is fraud?

Fraud is a type of criminal activity, defined as:

'abuse of position, or false representation, or prejudicing someone's rights for personal gain'.

Put simply, fraud is an act of deception intended for personal gain or to cause a loss to another party.

The general criminal offence of fraud can include:

    deception whereby someone knowingly makes false representation
    or they fail to disclose information
    or they abuse a position."
- http://www.sfo.gov.uk/fraud/what-is-fraud.aspx

Quote
"That Swedish Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware"
http://www.businessinsider.com/knc-sells-nearly-28-million-neptunes-2013-12

With $28m at stake I'd make sure I could deliver what I promised before spending my profits on something else or you might have some explaining to do when consumers start complaining to the authorities!

As the MtGox guy is about to find out: http://www.reuters.com/article/2014/02/26/mtgox-subpoena-idUSL3N0LV0UZ20140226 US is after his documents and he's going to have to account for where the money went. Wink

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