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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3041659 times)
sikke
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June 22, 2014, 03:28:47 PM
 #35621

https://bitcoinwisdom.com/bitcoin/difficulty

Very cool to see how KNC + Bitmaintech are deploying new hardware in past days. Haha there will be +30% difficulty jump.
At enterprise level bitcoing mining is way too profitable for this thing to stop. We will see +20PH deployed in weeks

What other business you get such a profits for few million $ investment.

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miglio46
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June 22, 2014, 03:29:40 PM
 #35622

so... if you want to put them in a rack ... which size would you choose?
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June 22, 2014, 03:43:46 PM
 #35623

Hey guys/gals(if any), shipping of the Neppy's is nearing ever so closely..has anyone done the mining calculations? one of my friends has 4 Neppy's incoming batch 2(order #180XX), he is pretty upset now because after doing his mining calculations he told me he would be lucky to mine 30BTC by Dec 2014 with all 4 Neps hashing away, is this true Huh? can anyone elaborate with possibly some calculations from more seasoned mining veterans?

~Thanks

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June 22, 2014, 03:43:54 PM
 #35624

Hey guys/gals(if any), shipping of the Neppy's is nearing ever so closely..has anyone done the mining calculations? one of my friends has 4 Neppy's incoming batch 2(order #180XX), he is pretty upset now because after doing his mining calculations he told me he would be lucky to mine 30BTC by Dec 2014 with all 4 Neps hashing away, is this true Huh? can anyone elaborate with possibly some calculations from more seasoned mining veterans?

~Thanks

check my calculation: https://bitcointalk.org/index.php?topic=170332.msg7433025#msg7433025

you can get back 6-7 btc for each neptune.

That was way too optimistic. You calculated with a difficulty increase of 20%. I'd say you'll be lucky with 4 to 5 for each Neptune.
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June 22, 2014, 03:51:07 PM
 #35625

What other business you get such a profits for few million $ investment.

You are joking, right ?
xstr8guy
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June 22, 2014, 03:56:48 PM
 #35626

The next few difficulty adjustments are going to be brutal. I'm even more content now that I took the Neptupiter (Juptune?) offer and didn't wait for the Neptune. Still, I would have been much better off if I'd taken the refund, lol.

But now I'm absolutely certain I will never order another miner as long as I live. And I'll probably be switching over to some SHA shitcoins sooner than I thought.
sikke
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June 22, 2014, 03:57:42 PM
 #35627

What other business you get such a profits for few million $ investment.

You are joking, right ?

Yes I am.
Take preorder $ and mine with the clients equipment in datorhall for 6 months is best way.
Past days KNC doubled their blocks found.

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aasl
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June 22, 2014, 04:01:44 PM
 #35628

Hey guys/gals(if any), shipping of the Neppy's is nearing ever so closely..has anyone done the mining calculations? one of my friends has 4 Neppy's incoming batch 2(order #180XX), he is pretty upset now because after doing his mining calculations he told me he would be lucky to mine 30BTC by Dec 2014 with all 4 Neps hashing away, is this true Huh? can anyone elaborate with possibly some calculations from more seasoned mining veterans?

~Thanks

check my calculation: https://bitcointalk.org/index.php?topic=170332.msg7433025#msg7433025

you can get back 6-7 btc for each neptune.

That was way too optimistic. You calculated with a difficulty increase of 20%. I'd say you'll be lucky with 4 to 5 for each Neptune.

yes. I just show even with the most optimistic situation, we are still far from getting back the investment.

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June 22, 2014, 04:29:45 PM
 #35629

Hey guys/gals(if any), shipping of the Neppy's is nearing ever so closely..has anyone done the mining calculations? one of my friends has 4 Neppy's incoming batch 2(order #180XX), he is pretty upset now because after doing his mining calculations he told me he would be lucky to mine 30BTC by Dec 2014 with all 4 Neps hashing away, is this true Huh? can anyone elaborate with possibly some calculations from more seasoned mining veterans?

~Thanks

According to http://www.bitcoinx.com/profit/, as a Batch 2 customer, I expect to nearly pay for my original Neptune unit by the end of year including power costs. My profit will be found in 5 months of mining with the second unit, and in selling the used units at a greatly reduced rate when I'm done with them.

Of course, any predictions beyond a couple months are difficult to make with accuracy. And as with most investments such as stocks etc., "past performance is not indicative of future earnings". No way to be sure of anything.
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June 22, 2014, 04:32:47 PM
 #35630

Did you factor that difficulty increases every 13 days?

June 30 is estimated to be 17 Billion already.

In 5 months will be 90 Billion
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June 22, 2014, 04:35:48 PM
 #35631

They said will ship this week, do they really ship?
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June 22, 2014, 04:38:02 PM
 #35632

Hey guys/gals(if any), shipping of the Neppy's is nearing ever so closely..has anyone done the mining calculations? one of my friends has 4 Neppy's incoming batch 2(order #180XX), he is pretty upset now because after doing his mining calculations he told me he would be lucky to mine 30BTC by Dec 2014 with all 4 Neps hashing away, is this true Huh? can anyone elaborate with possibly some calculations from more seasoned mining veterans?

~Thanks

According to http://www.bitcoinx.com/profit/, as a Batch 2 customer, I expect to nearly pay for my original Neptune unit by the end of year including power costs. My profit will be found in 5 months of mining with the second unit, and in selling the used units at a greatly reduced rate when I'm done with them.

Of course, any predictions beyond a couple months are difficult to make with accuracy. And as with most investments such as stocks etc., "past performance is not indicative of future earnings". No way to be sure of anything.

I don't know what is "decline rate per year" in this online calculator. try this one: https://bitcoinwisdom.com/bitcoin/calculator

And the next difficulty adjustment is from 90P to 130P!

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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June 22, 2014, 04:39:23 PM
 #35633

They said will ship this week, do they really ship?

They are testing something now, check out the KNC Miner moving to third position today.  https://blockchain.info/pools?timespan=24hrs
samsonn25
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June 22, 2014, 04:44:45 PM
 #35634

They said will ship this week, do they really ship?

They are testing something now, check out the KNC Miner moving to third position today.  https://blockchain.info/pools?timespan=24hrs

5PH increase is like 1700 Neptunes
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June 22, 2014, 04:53:47 PM
 #35635

Well, with my estimate of more than half of the neptune orders refunded (because more than half the miners can do basic maths) and some people who went for the frankenjupiters,
they have easily got 1000+ Neptunes to simply install in their DC.
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June 22, 2014, 04:57:18 PM
 #35636

Well, with my estimate of more than half of the neptune orders refunded (because more than half the miners can do basic maths) and some people who went for the frankenjupiters,
they have easily got 1000+ Neptunes to simply install in their DC.

They made alot more than the pre-ordered units, wouldnt surprise me if they are pointing those at other pools to hide hash power.
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June 22, 2014, 04:58:03 PM
 #35637

They said will ship this week, do they really ship?

They are testing something now, check out the KNC Miner moving to third position today.  https://blockchain.info/pools?timespan=24hrs

5PH increase is like 1700 Neptunes

That public holiday couldn't have come at a better time for KNC.

Ship 1 solitary miner on the thursday (and not even to the earliest order) and then mine with everyone else's for next 3 days.

And yet with all the money that they are making, and the fact that not a single purchaser will get back the money they paid, they still felt the need to pull that shit with taking away the 2nd free machine.

Way to treat your loyal customers

smoothrunnings
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June 22, 2014, 05:12:38 PM
 #35638

Let me ask you something smarty pants. If the USD was to collapse tomorrow what would you compare Bitcoin too? Someday we are going to get this point where the USD and the American Empire is no more. So you need to stop comparing Bitcoin to USD at some point.

I suspect for the sack of it that the price on BTC will increase during once the bond market collapses in the next two to three months that you and everyone will stop whining. LOL




I feel screwed when I know that KnC's "hash while you wait" means forfeiting "Neptune two-for-one"!

KnC announced "hash while you wait" on April 8, saying first batch customers will start their cloud mining from early June and the last customer will hash in their data center around the last week of June. Now this is close to the end of June, and finally the Plan B arrived.

On April 28, KnC announced that "KnCMiner, the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes."  I felt happy when KnC announced this, because it shows KnC at least tries to bring more profits to the customers (although, in fact, two Neptune still cannot reach ROI). To my understanding, this is a bonus/gift/giveaway from KnC, it has nothing to do with the compensation due to delay of delivery.

In the email I receved from KnC two days ago, I am notified to choose either "hash while you wait" or "switch to Titan". There was no terms saying that by select any of the options, the "neptune two-for-one" plan will no longer be valid. I read their T&C (convert.kncminer.com/terms/), the two options they offered has nothing to do with the two-for-one plan, therefore I signed up "hash while you wait", happily waiting for the cloud mining next week, first Neptune by the end of June, and second one in August.

Then I read the forum discussion, and I know that KnC actually use "hash while you wait" in replace of "neptune two-for-one"! I feel totally cheated and pissed off! How come KnC breaks their public promises, and deprive my rights by just giving some vague and ambiguous terms and conditions?

I use the online calculator for some maths: https://bitcoinwisdom.com/bitcoin/calculator. (I set the difficulty increase 20%, power consumption 2.1kW, the rest parameters are with default values)

I spent 12999 USD on 3TH Neptune. With current difficulty, even if I start mining today, I can mine up to 6BTC before electricity fee exceeds the income. Suppose bitcoin price is 600USD, I can get back 3600 USD. There is still a gap of 9399USD!

If I receive a second neptune by Aug 31 (earliest estimated delivery date), then before electricity bill wins, I can mine up to 8.4 BTC together with the first neptune. This is about 5040USD in total. And the gap is still 7959USD!

"hash while you wait" has a max period of 45 days. Suppose I don't receive my neptune and therefore I use up all the cloud mining time, then I can get around 3.8BTC, equivalent to 2280USD. Of course, if KnC ships my first Neptune by end of June, then I only get 0.8-0.9 BTC while waiting...

So, even if I have both "hash while you wait" and "neptune 2-for-1", I can get maximum $(5040+2280)=$7320. The gap is $5679.

If I only have "hash while you wait" and one neptune, then revenue is $(3600+2280)=$5880, gap is $7119!

Now I can buy a 1TH miner for about 1500-1700 USD(e.g. http://www.lketc.com/goods/show-172.aspx  the dragon miner, one of the well-known mining rigs in China), and such mining rig is in stock and can be delivered in 2-3 days. With 12999 USD, I can buy up to 7-8 TH mining power! This is far more than 6TB that KnC can provide.

KnC said Neptune is to be delivered in Q1/Q2, and they make customers believe it refers to March/early April. Now it is the very end of Q2, and I feel disappointed.

KnC said the "hash while you wait" will be started in early June, and it is delayed, and I feel disappointed.

Now KnC will revoke their promises of give away a second Neptune, I am totally pissed!
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June 22, 2014, 05:23:16 PM
 #35639

Did you factor that difficulty increases every 13 days?

June 30 is estimated to be 17 Billion already.

In 5 months will be 90 Billion

Yes, every 13 days with a conservative(perhaps too much) 20% diff jump..the numbers actually showed him earning 24-26 BTC at most FOR ALL 4 NEPPYS by mid dec 2014, meanwhile I had one order that I refunded back in may, for about the same amount of coin. Really goes to show how hard Kfc stuck it even with the meager 3TH, my friend had his hopes so high based on Kfc's earlier track record boasting they will have 5-6TH each easy..i feel bad for him because 40kUSD to me is alot of money...

Good Luck to All
~Thanks for all your replies
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June 22, 2014, 05:26:22 PM
 #35640

Let me ask you something smarty pants. If the USD was to collapse tomorrow what would you compare Bitcoin too? Someday we are going to get this point where the USD and the American Empire is no more. So you need to stop comparing Bitcoin to USD at some point.

I suspect for the sack of it that the price on BTC will increase during once the bond market collapses in the next two to three months that you and everyone will stop whining. LOL


Libertarians are funny.
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