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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3041730 times)
je1p7u7
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April 07, 2014, 02:36:59 PM
 #31941

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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases.

KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down!

In case you wanted to sue them it would be difficult for them to prove in a court of law that they sent you a refund "on the blockchain". They have no other option than to send bank-document-verified transfers.
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April 07, 2014, 02:59:18 PM
 #31942

well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink
<snip>

The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285.

For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day.

Those numbers look crazy. 40mil $ /month mining operation.
That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny  Undecided
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ

KNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years.

huh.

They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares.

$255K a day makes for ~$7.77 mil/average mo (30.5 days). Still, a nice 100 mil a year.
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April 07, 2014, 03:34:20 PM
 #31943

Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.



Could you please tell me how many days from "Refunded" to dollars in your bank account ? Smiley

One
pedrosoft
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April 07, 2014, 03:36:06 PM
 #31944

Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.



Could you please tell me how many days from "Refunded" to dollars in your bank account ? Smiley

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Do you live in Europe ? Smiley
sikke
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April 07, 2014, 04:04:31 PM
 #31945

well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink
<snip>

The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285.

For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day.

Those numbers look crazy. 40mil $ /month mining operation.
That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny  Undecided
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ

KNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years.

huh.

They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares.

$255K a day makes for ~$7.77 mil/average mo (30.5 days). Still, a nice 100 mil a year.

Yes i picked up that they make 4285 btc per day when calculating. Ofc it was 13% of that.
My mistake on numbers

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April 07, 2014, 05:24:55 PM
 #31946

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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases.

KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down!

In case you wanted to sue them it would be difficult for them to prove in a court of law that they sent you a refund "on the blockchain". They have no other option than to send bank-document-verified transfers.

Why would i sue them if i get my refund? I could sue them with 2-3-10 Neptunes ordered, why would i do it if i only have one Neptune?

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
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April 07, 2014, 06:16:40 PM
 #31947

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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases.

KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down!

In case you wanted to sue them it would be difficult for them to prove in a court of law that they sent you a refund "on the blockchain". They have no other option than to send bank-document-verified transfers.

Then why send BTC refunds for multiple Neptune orders? Makes no sense.
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April 07, 2014, 06:38:42 PM
 #31948

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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases.
KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down!

I hear you.. I asked for a BTC refund also but was given USD as it was a single order... With no upcoming news I am contemplating refunding my remaining order also. At this rate with no sign of "Plan B" it almost looks like KNC is encouraging refunds (IMHO), for what reasons I do not know  Huh

IMHO it is to KNC's advantage at this point to encourage refunds so that :-
1. They will have less future competition, as you do not end up mining against them with that hash unit.
2. They get more state of the art machines to stock their data centre(s) with from the initial production batches.
3. You may use the refund to purchase BTC on the market, i.e. from them potentially, and this will help maintain or rise the BTC/USD price, being advantageous to them as they are selling so much BTC daily.

Sad times.

If you think I deserve it - BTC always welcome - 14GkxT2xcpgvGVBgMjtGeFiXrxnttBSRRF
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April 07, 2014, 06:56:33 PM
 #31949

It's Monday and we have no announcement. I think we were tricked again like the winter Jupiters...

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April 07, 2014, 07:25:30 PM
 #31950

It's Monday and we have no announcement. I think we were tricked again like the winter Jupiters...

My read is different. On weekend they said that news are coming "very soon".
I think that they got the news that chips were sent (Fri?), hence the message.
They will probably get them today or tomorrow and have to do minimal testing, hence I predict news in the next couple of days.
I would be very surprised if we got nothing by Thu.
lemonte
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April 07, 2014, 07:35:56 PM
 #31951

It's Monday and we have no announcement. I think we were tricked again like the winter Jupiters...

My read is different. On weekend they said that news are coming "very soon".
I think that they got the news that chips were sent (Fri?), hence the message.
They will probably get them today or tomorrow and have to do minimal testing, hence I predict news in the next couple of days.
I would be very surprised if we got nothing by Thu.

I also got that impression. Hope they hurry up though, Easter is only a week and a bit away.

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April 07, 2014, 08:28:57 PM
 #31952



In an effort to save everyone time and effort I am proposing a new "Short hand" for messages in this thread.

So as to save you time typing and save us time reading you can just post the five letter code to indicate what your message is about"


  KNCSX  - Use this code when you want to indicate how much Knc sucks for building their own datacenter & making $x everyday
  $TOKR - Use this code to ask how many dollars are in a krona
  4NEWS - Use this code when you want to complain that there has been no news since ______
  FNTSY - Use this code to let everyone know that you are still a proud KNC customer and can't wait to get your item(s)
  REFND - Use this code to ask for the 4000th time whether people are still getting refunds & what form they are in & how long it takes
  DRBLE - Use this code for Mindless dribble about BTC speculation, how cheap others are etc.
  CALDR - Use this if you want to ask for the 400th time when does Q1, Q2, Q3 and Q4 happen on a calendar


Carry on!

BitCoinRateWatcher.com One stop for latest rates from MtGox, Bitstamp, CampBx, Coinbase and Bitpay all on one mobile friendly screen.
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April 08, 2014, 05:36:36 AM
 #31953

ooooh the race is on is it?  Cheesy soonish. nice. I'll be 60 soonish. this year i'm 40.
i've gone for one of those spondoolies-tech bundles.. even if this neptune is ~5TH/s, those bundles look a better option. Based on the comment on my 20nm delays thread here, a post remarking the obvious - 20nm is only a very small step in efficiency to anything you can buy today, and have shipped next week. I just feel it's been too long and too much in the way of self-mining for KnC to continue as a viable business. Someone is going to pull that rug from under their feet and it's gonna be a long drop for them when it does.
Look at it this way, historically a mining rig does not have a non-exhaustive lifespan. You receive your rig, you mine with it for a duration of time, then it becomes obsolete, so you sell it on (other internet auction sites are available). I'll give the datorhall until christmas; at very best, before it becomes a loss leader for KnC. They are already in the autumn of their existence.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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April 08, 2014, 08:13:53 AM
 #31954

Anyone in Europe could tell me how many days from "refunded" (in account page) to dollars in bank account ?

Thanks
The Avenger
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April 08, 2014, 08:49:23 AM
Last edit: April 08, 2014, 09:55:25 AM by The Avenger
 #31955

I'll give the datorhall until christmas; at very best, before it becomes a loss leader for KnC. They are already in the autumn of their existence.
Sadly, like a central bank, they can continue to print more dollars (i.e. boards) as and when they need, much easier than anyone else. Who'd going to be able to go toe to toe with them in a race to control 50% of the bitcoin network?

P.S. Everyone keeps throwing Neptune and 5TH around. With Jupiter, they started small and then added & added to the hashrate to make it more appealing. They have never once reestimated the hashrate of Neptune Nob-tune. As announced by the knc "director of running away like a scared girl" in January, their main interest in Neptune is energy efficiency, as it suits their DC plans. They've announced twice their "success" in doing this. That's your knc 'bonus' this time kids - the fact you might be able to run it from domestic power.

And I don't even think anyone has considered the fact their rush job neptune might be a 2.3TH machine, Cointerra-stylee. It's new tech, they could easily have trouble bringing it up. And they'll promise a firmware update to "fix it", which may take 5-6 months if their efforts on the Jupiter firmware are anything to go by. How would you feel about waiting to July to get a 2.3TH machine you Neptune hodlers?

OKBYE
AVNGR

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April 08, 2014, 09:27:50 AM
 #31956

Anyone in Europe could tell me how many days from "refunded" (in account page) to dollars in bank account ?

Thanks


I got refunded in 6 working days.

All is Mine!

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April 08, 2014, 11:21:17 AM
 #31957

oh oh news update
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April 08, 2014, 11:22:36 AM
 #31958

currently in fab. stage at TSMC
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April 08, 2014, 11:29:28 AM
 #31959

Neptune Update - 2014 April 08

Quote
Dear all,

In this newsletter we have some updates for you all about our product range. The newsletter will contain the following sections:
 
·                   20nm statement

·                   Neptune progress update

·                   Hash while you wait

·                   Convert your Neptune order

 
20nm statement.

This is an important statement which we would like to make clear. As always there is a lot of information available on the internet and a lot of speculation about the technology we are using some of it true and some of it completely wrong. What we can say is that the technology we have chosen is cutting edge and this means a lot of companies are careful about adopting such technologies.
We at KnCMiner pride ourselves in bringing the latest technologies to our customers. We over engineer our chips and don’t promise anywhere near the actual 100% performance they could possibly achieve. This enables us to use the latest and greatest chips safely. So when you read about much longer timelines for this technology it’s important to note they are not our timelines. We have a very different approach. We over engineer our chips and only use world class partners in our chip designs. These important factors allow us to have the technology in our customer’s hands faster than other companies.
 
Neptune progress update.

Our Neptune product is currently in fabrication stage at the TSMC Foundry in Asia. We are actively pushing to get the chips as fast as possible to our assembly factories in Sweden. We have of course taken all steps to make sure that the process is done as fast as possible. We know as well as everyone in this business that time is a critical part of the process.  Which we think is why we have come up with a few alternatives to anyone who doesn't want to wait for their product.
 
Hash while you wait.

First it’s important to note that we don’t expect to be late at all everything is on track. It’s just always good to have a backup plan. Second our mega-data center in the north of Sweden is nearing completion so we can give out some more details. All customers of Neptune’s will be able to use completely free of charge our data center to hash for them at 3TH either on our pool or a pool of their choice while they wait for their product to be shipped. The first customers (batch 1) are expected to be hashing in our data center in early June and the last customer will hash in our data center around the last week of June. All the customers will be able to hash in that data center for as long as we are late in shipping your Neptune product, this service will be provided on a best effort basis. We have a 24/7 operations teams in place with multiple redundant internet and power connections and we will aim to have as close to 0 down time as possible.
 
Convert your Neptune order to a 3TH Jupiter.
 
For those customers who no longer want to wait for their Neptune we have another new option for you. We are releasing for shipment a new 3TH product. We have a total of 400 of these setups available which are based on our existing and proven 28nm chips. Each setup contains

 - 18 of our own 28nm 8 DC/DC module ASIC boards with coolers,
 - 3 controller cards,
 - all cables needed,
 - Power supplies not included.

The boards are in aluminum boxes, each box contains 3 chips side by side with front and rear cooling vents. Each controller card runs two boxes. This option will be offered free of charge for anyone wanting to convert their Neptune to a 3TH Jupiter. If more than 400 people want to have the conversion we will ship in order of payment for the original Neptune order. This offer will be open for 7 days for people to contact us. After 7 days from today the exchange will be frozen and people will be contacted who made it onto the queue. The products will then be shipped from stock as soon as possible. This will be offered at no cost to the customers wanting to take 3TH of Jupiter’s instead of waiting for their Neptune’s. There is a 90 day warranty on this product. Anyone wanting to take this option should contact customer service via email with their order number who will then take care of the conversion.
 
Thanks
KnCMiner Team
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April 08, 2014, 11:30:19 AM
 #31960

Man did they roll that "JUNE" off their tongue smooth or what?  GD Q1/Q2 = end of Q2..  FU bunch of A-holes...
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