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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3006378 times)
Henchman24
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April 03, 2014, 06:24:55 PM
 #31821

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

I ran into the same issue trying to get my refund sent to my credit union.  I finally just opened a new account at a bank that could accept international wire transfers.   Sad
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wpgdeez
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April 03, 2014, 06:31:03 PM
 #31822

I had the same problem with my CU, so I had thought until my refund showed up yesterday Cheesy
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April 03, 2014, 06:35:44 PM
 #31823

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

do you have any proof of this?

Proof of them dumping coins? It was said in an interview.

Their datacenter is up to 6PH now.
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April 03, 2014, 06:41:59 PM
 #31824

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

do you have any proof of this?

Proof of them dumping coins? It was said in an interview.

Their datacenter is up to 6PH now.

can you give us a link, i'd like to see that interview, please?

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April 03, 2014, 06:52:12 PM
 #31825

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/
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April 03, 2014, 06:52:44 PM
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"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

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April 03, 2014, 06:56:34 PM
 #31827


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"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "
Translated...

Photo: Jesper Frisk
Swedish KNC Miner , which sells servers for mining bitcoin , has pulled in more than half a billion in revenue since its launch last summer.
This extended operations with a new server for the excavation of another virtual currency , litecoin - a launch that already generated SEK 27 million in revenue.

In mid- February, the Swedish IT company KNC Miner hit the headlines with the news that they would build one of the largest data centers in Constance . The company is therefore the second , after Facebook, Norrbotten who choose to build a giant data center .

An old helicopter hangar at 5,500 square feet is now starting to be filled with KNC Miners specially developed servers that devotes his days to "break " new bitcoin . The virtual currency is produced namely of advanced servers cracking algorithms.

" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm.

Besides producing and selling bitcoin feeds KNC Miner to develop , build and sell specialized servers called bitcoinbrytning . The best seller is called Jupiter, which is now being followed up with twice as powerful server Neptune .

" Since the company was founded in June 2013 , we had revenues of $ 78 million ( half a billion dollars) ," said Sam Cole, with his roots in Britain.

On Wednesday, the company rolled out a new line of servers they call Titan. Unlike the company's other products , the Titan server is not focused on bitcoin , but on the other virtual currencies.

" Titan is our first server that focuses solely on scripts basse conditioned virtual currencies Litecoin " said Sam Cole , referring to the currency that is currently the second most popular after bitcoin .

The new servers have been selling like hot cakes . On one day have KNC Miner received over a thousand orders for Titan servers.

" We have confirmed revenues of $ 4.2 million (27 million) ," said Sam Cole.

In June it will be time for KNC Miner to close the books for their first year as a company. Sam Cole does not exclude in the first year will be a billion companies.

" We will have over 100 million dollars in revenue (640 million) for KNC Miner Group in late June , I can say with confidence ," he says .

KNC Miner AB is based in Stockholm but has all of its revenues in dollars. Even when the company will charge you in bitcoin is careful to immediately switch the virtual currency to U.S. dollars , according to Sam Cole, who founded the company along with three Swedes.

Behind KNC Miner is two companies: Kennemar and Cole ( founded Sam Cole and Andreas Kennemar ) and ORSoC ( founded by Marcus Erlandsson and Michael Unnebäck ) .




Probably so then....


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RoadStress
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April 03, 2014, 07:10:53 PM
 #31828

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
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Biodom
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April 03, 2014, 07:12:43 PM
 #31829


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"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.
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April 03, 2014, 07:17:40 PM
 #31830



Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

Look at the date of the article.  Then consider that the quote wasn't taken on the day the article was published.  Then consider that the difficulty and exchange rate of BTC was not then, what it is now.

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April 03, 2014, 07:18:02 PM
 #31831


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"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

Its not 3 million USD its 3 million SEK and the article is old. They are mining around 360 btc per day.
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April 03, 2014, 07:18:16 PM
 #31832


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"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.
"tre miljoner kronor"

Swedish kronor

3,000,000.00 SEK = 458,525.01 USD

"I am not The Avenger"
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April 03, 2014, 07:21:26 PM
 #31833

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

 Huh They want money.  They don't want to speculate on BTC, they just want the f'ing money.

How could anyone be surprised?  Not only did all of the KnC buyers give them the power (unknowingly I'll admit), but then they heralded Plan B as the greatest thing ever with all that free cloud hashing power the Neptune owners were going to get.   Well, it's almost Q2 time and not a single Neptune purchaser is getting cloud hashing.  No, instead they -- who don't give a shit about Bitcoin -- are fucking everyone by upping the difficulty and putting continued sell pressure on the market where normals miners wouldn't.

Anyone want to place bets on a time frame until a governmental agency puts the clamps on KnC and subverts their farm?  At least Bitfury had the decency to keep selling hardware and setup mines in vastly different geological locations under control of different people while he/they fucked everybody else  Cheesy
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April 03, 2014, 07:23:18 PM
 #31834

BTC goes to $10 and NO ONE can afford to mine because the difficulty is 5 billion

logical error.

if NO ONE can afford to mine, why should the difficulty stay at 5 billion?

if NO ONE can afford to mine, no one WILL mine. and if no one will mine difficulty goes down to 1.

logic ftw my friend.

And how long is that difficulty going to take to drop if it is at 5 billion and 75% off the hashrate disappears. Going to take a long time to the next retarget.

Difficulty will be at 6 billion (that's 6,000,000,000) next week.

That's a loooooooong way to fall from.


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April 03, 2014, 07:26:20 PM
 #31835

BTC goes to $10 and NO ONE can afford to mine because the difficulty is 5 billion

logical error.

if NO ONE can afford to mine, why should the difficulty stay at 5 billion?

if NO ONE can afford to mine, no one WILL mine. and if no one will mine difficulty goes down to 1.

logic ftw my friend.

And how long is that difficulty going to take to drop if it is at 5 billion and 75% off the hashrate disappears. Going to take a long time to the next retarget.

Difficulty will be at 6 billion (that's 6,000,000,000) next week.

That's a loooooooong way to fall from.



Too many idiots bought hardware that will never ROI to think that they're accutely aware of what their earnings are comparative to their overhead.  They may also keep mining at a loss today on speculation that BTC will be worth more tomorrow.  Knowing what you know now, would you have quit mining at a loss when bitcoin reward halved?  If you took the risk of mining anyways, that would have been very profitable looking at how things played out.
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April 03, 2014, 07:26:47 PM
 #31836

I had the same problem with my CU, so I had thought until my refund showed up yesterday Cheesy

Did you just give them the routing and account number and they did it, or did you give them a SWIFT code as an intermediate bank?

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April 03, 2014, 07:26:53 PM
 #31837

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

 Huh They want money.  They don't want to speculate on BTC, they just want the f'ing money.

How could anyone be surprised?  Not only did all of the KnC buyers give them the power (unknowingly I'll admit), but then they heralded Plan B as the greatest thing ever with all that free cloud hashing power the Neptune owners were going to get.   Well, it's almost Q2 time and not a single Neptune purchaser is getting cloud hashing.  No, instead they -- who don't give a shit about Bitcoin -- are fucking everyone by upping the difficulty and putting continued sell pressure on the market where normals miners wouldn't.

Anyone want to place bets on a time frame until a governmental agency puts the clamps on KnC and subverts their farm?  At least Bitfury had the decency to keep selling hardware and setup mines in vastly different geological locations under control of different people while he/they fucked everybody else  Cheesy

Why not keep 10% of the coins for example? It's free money for them after all. 10% would mean around 50k$ per day which i'm sure means nothing considering the rest of the 450k$. They can win a lot more by holding a small amount of BTCs than what they win if they don't hold any.

Why would the gov put the clamp on KnC? They are making money and it's a win win situation.

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
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April 03, 2014, 07:28:42 PM
 #31838

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

 Huh They want money.  They don't want to speculate on BTC, they just want the f'ing money.

How could anyone be surprised?  Not only did all of the KnC buyers give them the power (unknowingly I'll admit), but then they heralded Plan B as the greatest thing ever with all that free cloud hashing power the Neptune owners were going to get.   Well, it's almost Q2 time and not a single Neptune purchaser is getting cloud hashing.  No, instead they -- who don't give a shit about Bitcoin -- are fucking everyone by upping the difficulty and putting continued sell pressure on the market where normals miners wouldn't.

Anyone want to place bets on a time frame until a governmental agency puts the clamps on KnC and subverts their farm?  At least Bitfury had the decency to keep selling hardware and setup mines in vastly different geological locations under control of different people while he/they fucked everybody else  Cheesy

Why not keep 10% of the coins for example? It's free money for them after all. 10% would mean around 50k$ per day which i'm sure means nothing considering the rest of the 450k$. They can win a lot more by holding a small amount of BTCs than what they win if they don't hold any.

Why would the gov put the clamp on KnC? They are making money and it's a win win situation.

This.

but what still irks me, they have the cloud capacity and capability; now. if plan b is truly the best thing since sliced bread... open it up to your customers!

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April 03, 2014, 07:30:49 PM
 #31839

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

 Huh They want money.  They don't want to speculate on BTC, they just want the f'ing money.

How could anyone be surprised?  Not only did all of the KnC buyers give them the power (unknowingly I'll admit), but then they heralded Plan B as the greatest thing ever with all that free cloud hashing power the Neptune owners were going to get.   Well, it's almost Q2 time and not a single Neptune purchaser is getting cloud hashing.  No, instead they -- who don't give a shit about Bitcoin -- are fucking everyone by upping the difficulty and putting continued sell pressure on the market where normals miners wouldn't.

Anyone want to place bets on a time frame until a governmental agency puts the clamps on KnC and subverts their farm?  At least Bitfury had the decency to keep selling hardware and setup mines in vastly different geological locations under control of different people while he/they fucked everybody else  Cheesy

Why not keep 10% of the coins for example? It's free money for them after all. 10% would mean around 50k$ per day which i'm sure means nothing considering the rest of the 450k$. They can win a lot more by holding a small amount of BTCs than what they win if they don't hold any.

Sure, so they could have sold the 10% as they went and been guaranteed fiat gains, or could have held on speculation and lost half what they could've had.

I don't think it's a very solid assumption to think that they're happy enough with $450k to the extend that they'd gamble with 10%, at least not after going out to create the largest private mining farm on the face of the earth.

Quote
Why would the gov put the clamp on KnC? They are making money and it's a win win situation.

Who's making money, the Gov?  The Gov isn't out to make money, it's out for Control.
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April 03, 2014, 07:34:28 PM
 #31840

but what still irks me, they have the cloud capacity and capability; now. if plan b is truly the best thing since sliced bread... open it up to your customers!

And that's a really good question, isn't it?  Why aren't they mining for the Neptune customers?  Why haven't they opened up Cloud Hashing sales?  Hell, they could open up sales and mine with the hardware themselves while it's not being rented out, but that isn't happening.  Why is that?
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