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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3011639 times)
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May 28, 2014, 10:28:16 PM
 #34241

their mining farm generates about $500,000 usd a day. They won't be going bankrupt anytime soon. They're just greedy bastards which is why they delay the refunds.

Sam Cole told Forbes they are making 8,000,000 SEK a day that's $1,203,552.00 USD currently.

That was Dave at Megabigpower's farm,wasn't it,when BTC hit it's alltime high............it has since dropped its earnings ALOT  Wink

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May 28, 2014, 11:00:22 PM
 #34242

their mining farm generates about $500,000 usd a day. They won't be going bankrupt anytime soon. They're just greedy bastards which is why they delay the refunds.

Sam Cole told Forbes they are making 8,000,000 SEK a day that's $1,203,552.00 USD currently.

The only article I remember was one on a Swedish website that reported knc were mining three million kronor a day, which I calculated at the time was
3,000,000.00 SEK = 458,525.01 USD

https://bitcointalk.org/index.php?topic=170332.msg6057284#msg6057284

They are still mining $1million+ each week, so I also find it hard to see them going bankrupt any time soon.

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May 29, 2014, 12:19:02 AM
 #34243

I forgot to mention, but I got my BTC refund for 3 Neptunes on the 20th May, just hours before the price started to rise. KNC couldn't have chosen a better time.
Original purchase price for 3 was around 30400USD and I got 66.5BTC back at 457USD exchange rate.
With the current exchange rate that is almost $8000 ahead.

I am so glad I requested a refund Smiley

I guess the only way you can "profit" off of a refund in BTC is if you paid less for the bitcoin at the time of purchase, right? Or had it sitting in a wallet mined it for free, then anything over the price they charged would be %100 profit. Shit, not a bad deal. A blessing in disguise. Now, everyone with that profit go BUY some bitcoin!

Well, 2 of the Neptunes were paid in cash with USD transfer and the 3rd one was paid in BTC (10.3BTC) mined with Jupiters when the price was near 1000USD.
So from my point of view I invested ~$20300 + 10.33BTC AND got back 66.5BTC.
I consider that a good investment overall.

 Sounds like the refunds are going to bankrupt KNC!


their mining farm generates about $500,000 usd a day. They won't be going bankrupt anytime soon. They're just greedy bastards which is why they delay the refunds.

 I thought the mining farm was simply hosting for customer ASICs?  They said they would never mine with more than 5% of sales to customers!
Wait I'll see if I can find a link to the quote...
Here it is!  https://www.kncminer.com/pages/faq <-- see question #2

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May 29, 2014, 12:21:39 AM
 #34244

I thought the mining farm was simply hosting for customer ASICs?  They said they would never mine with more than 5% of sales to customers!
Wait I'll see if I can find a link to the quote...
Here it is!  https://www.kncminer.com/pages/faq <-- see question #2

Yeah, they didn't actually keep that promise.

Buy & Hold
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May 29, 2014, 12:26:29 AM
 #34245

their mining farm generates about $500,000 usd a day. They won't be going bankrupt anytime soon. They're just greedy bastards which is why they delay the refunds.

Sam Cole told Forbes they are making 8,000,000 SEK a day that's $1,203,552.00 USD currently.

The only article I remember was one on a Swedish website that reported knc were mining three million kronor a day, which I calculated at the time was
3,000,000.00 SEK = 458,525.01 USD

https://bitcointalk.org/index.php?topic=170332.msg6057284#msg6057284

They are still mining $1million+ each week, so I also find it hard to see them going bankrupt any time soon.

 That is terrible.  So they have driven the difficulty up using our per-order money to fund the operation and neutered our pre-ordered miners in the process while at the same time suppressing Bitcoin price by dumping them on the market as they are produced.  Did Sam not say they had a "Customer first" policy?!  Huh! Platinum member of the Bitcoin foundation to boot...



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May 29, 2014, 12:28:42 AM
 #34246

I thought the mining farm was simply hosting for customer ASICs?  They said they would never mine with more than 5% of sales to customers!
Wait I'll see if I can find a link to the quote...
Here it is!  https://www.kncminer.com/pages/faq <-- see question #2

Yeah, they didn't actually keep that promise.

 Wow!  That was a big promise to break.  I used that to determine whether it was a sound investment to purchase their miners.

Don't let sidehack fade away...【ツ】Buy him a burger!   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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May 29, 2014, 12:28:53 AM
 #34247

Lol if they mine so much BTC price can easily go down to 400 or more when people realise they are simply putting money in KNC pockets.
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May 29, 2014, 12:36:15 AM
 #34248

BTW, one of the pictures is an absolute horror show with endless rows of Jupiter modules hashing.

As PsychoticBoy said, it's disgusting. It really is.

Not more than 5%? This datorhall is probably big enough to be 100%+ of what they shipped to customers.

All our earnings are disappearing because we are competing against this (I copied it to imgur so I could embed it):



Thanks knc - assholes Angry

Here - blast from the past - lest people forget what kind of MFs they are
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May 29, 2014, 12:41:42 AM
 #34249

Everyone here is greatly exaggerating how much KNC is mining.

Assuming http://organofcorti.blogspot.com/ is accurate, then KNC only has 5.5 ph/s or less than 7% of the network.

That would mean they only mine about 250btc per day and spend about 50btc on electricity. (10MW @ 0.1/kwh)

200btc per day is not really astronomical.
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May 29, 2014, 01:27:38 AM
 #34250

Everyone here is greatly exaggerating how much KNC is mining.

Assuming http://organofcorti.blogspot.com/ is accurate, then KNC only has 5.5 ph/s or less than 7% of the network.

Did you miss the part about "We will not mine with more than 5% of the hash rate we sell"? 7% of the network is many times greater than 5% of their sales. That's a huge broken promise.

Buy & Hold
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May 29, 2014, 02:08:01 AM
 #34251

Everyone here is greatly exaggerating how much KNC is mining.

Assuming http://organofcorti.blogspot.com/ is accurate, then KNC only has 5.5 ph/s or less than 7% of the network.

That would mean they only mine about 250btc per day and spend about 50btc on electricity. (10MW @ 0.1/kwh)

200btc per day is not really astronomical.

this Swedish interview with Sam Cole was published on 3/24/14.

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/?flik=senaste

 I don't speak Swedish, but translated, he says that they are mining 3 million Swedish krona daily.  The exchange rate on that date was 6.3977 krona/dollar, or $468,918USD/day.  The bitcoin exchange rate on that date was nearly identical to what it was today, approximately $575/bitcoin.

That would put the number of bitcoins mined on 3/24/14 in the range of 815/day
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May 29, 2014, 02:28:41 AM
 #34252

Did anyone learn anything from the BFL liars? never trust a asic company period Cheesy they say one thing do another...and it'll happen with every asic company too Tongue if you owned a asic company and was able to make knc dc, would you stick to your promise? hell no you wouldn't Tongue and if you said yes you should go work for BFL or any asic company hehe

Dreams of cyprto solving everything is slowly slipping away...Replaced by scams/hacks Sad
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May 29, 2014, 05:03:32 AM
 #34253

Did anyone learn anything from the BFL liars? never trust a asic company period Cheesy they say one thing do another...and it'll happen with every asic company too Tongue if you owned a asic company and was able to make knc dc, would you stick to your promise? hell no you wouldn't Tongue and if you said yes you should go work for BFL or any asic company hehe

seems like everyone is a scam of some kind here, keep finding it thread after thread. Sad

did knc actually deliver their litecoin mining hardware?  just got to this thread and only read the last few pages of rage :/
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May 29, 2014, 06:14:15 AM
 #34254

BTW, one of the pictures is an absolute horror show with endless rows of Jupiter modules hashing.

As PsychoticBoy said, it's disgusting. It really is.

Not more than 5%? This datorhall is probably big enough to be 100%+ of what they shipped to customers.

All our earnings are disappearing because we are competing against this (I copied it to imgur so I could embed it):



Thanks knc - assholes Angry

Here - blast from the past - lest people forget what kind of MFs they are

Looks Nipy and Tity were the latest physical miner we could purchase from knc.



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May 29, 2014, 06:25:04 AM
 #34255

BTW, one of the pictures is an absolute horror show with endless rows of Jupiter modules hashing.

As PsychoticBoy said, it's disgusting. It really is.

Not more than 5%? This datorhall is probably big enough to be 100%+ of what they shipped to customers.

All our earnings are disappearing because we are competing against this (I copied it to imgur so I could embed it):



Thanks knc - assholes Angry

Here - blast from the past - lest people forget what kind of MFs they are

Did KNC have anything to say about this?
I hadn't seen this pic, it's stunning.
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May 29, 2014, 06:34:27 AM
 #34256

BTW, one of the pictures is an absolute horror show with endless rows of Jupiter modules hashing.

As PsychoticBoy said, it's disgusting. It really is.

Not more than 5%? This datorhall is probably big enough to be 100%+ of what they shipped to customers.

All our earnings are disappearing because we are competing against this (I copied it to imgur so I could embed it):



Thanks knc - assholes Angry

Here - blast from the past - lest people forget what kind of MFs they are

Did KNC have anything to say about this?
I hadn't seen this pic, it's stunning.

Say something? They bragged about it in several high-profile publications.
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May 29, 2014, 06:56:43 AM
 #34257

no action on knccloud.com yet, probably next week


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May 29, 2014, 06:58:30 AM
 #34258

no action on knccloud.com yet, probably next week


meanwhile, i found this http://bitguy.com


tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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May 29, 2014, 07:21:45 AM
 #34259

BTW, one of the pictures is an absolute horror show with endless rows of Jupiter modules hashing.

As PsychoticBoy said, it's disgusting. It really is.

Not more than 5%? This datorhall is probably big enough to be 100%+ of what they shipped to customers.

All our earnings are disappearing because we are competing against this (I copied it to imgur so I could embed it):



Thanks knc - assholes Angry

Here - blast from the past - lest people forget what kind of MFs they are

Did KNC have anything to say about this?
I hadn't seen this pic, it's stunning.


Sam said 'Ohta su marvalic plesodoro'


and apparently when he met Sonny, Josh & Yifu he exclaimed 'U kulle rah doe kankee kung'   (yup. phonieX1969, you too)


when he met Alex the gimp he told him - 'Bargon u noa-a-uyat'


and finally to you Franken Jup brothers - you shouldve asked 'Va foppa gee wontahumpa?



etc...




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May 29, 2014, 07:42:26 AM
 #34260

Also, A/C's have an efficiency of ~30% which means it would take a 4000 watt unit to remove the heat from your 1260 watts worth of gridseed blades.

Um AC have an "efficiency" of 300% to 500%+.  They are heat pumps.  1W of electricity is sufficient to move 3 to 5W of heat.

 I feel like such an idiot!   Embarrassed Would you believe I am working night shifts right now?
 
I apologize, but a fan is about a thousand times more efficient in MOVING heat than any "Air-con".

Besides there nothing wrong with running the equipment at its operating temperature. Google's stage 3 colo uses very little cooling; the colo is about 80F all the time, Google saves over 1billion in cooling costs a each year!

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