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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3045496 times)
Loup Artic
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July 02, 2014, 12:09:13 AM
 #36341

I have two Neptune and its instable...
I tried different combination but it's complicated.

Single Asic totally crash after 15min :

http://www.image-heberg.fr/files/14042894688281.png
http://pastebin.com/hvDg9Hkc

5 Asic, 5 x 450Watts connected to a UPS (5000KVA, double conversion online).
Two brutally slow down with many errors (exemple : KnC: 5.1.100 disabled for 300 seconds due to repeated hardware errors)
http://www.image-heberg.fr/files/14042894686910.png

Good for 2 Asic but last, Asic 6 slight decrease
http://www.image-heberg.fr/files/14042894686893.png


Other test with 3 ASIC :

Boot : http://www.image-heberg.fr/files/14042894688980.png (ok)
5 min : http://www.image-heberg.fr/files/14042894689633.png (decrease)
15 min : http://www.image-heberg.fr/files/14042894689784.png (more errors than results)

Actually i try with 5 ASIC, 5 x 450Watts, no UPS, in another room.
At 475Mhz, Asic 2 and 3 crash : http://www.image-heberg.fr/files/14042894686910.png
I reboot Asic 2 and 3, cgminer crash and auto-restart and i set at 500Mhz, for the moment, its stable.
 (5s):3.356T (1m):3.300T (5m):3.285T (15m):2.944T (avg):3.107Th/s
 A:1618944  R:0  HW:5399  WU:43465.0/m

Between delay and instabilities, it is a BIG disappointment for the moment...
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July 02, 2014, 12:11:20 AM
 #36342

I have two Neptune and its instable...
I tried different combination but it's complicated.

Single Asic totally crash after 15min :

http://www.image-heberg.fr/files/14042894688281.png
http://pastebin.com/hvDg9Hkc

5 Asic, 5 x 450Watts connected to a UPS (5000KVA, double conversion online).
Two brutally slow down with many errors (exemple : KnC: 5.1.100 disabled for 300 seconds due to repeated hardware errors)
http://www.image-heberg.fr/files/14042894686910.png

Good for 2 Asic but last, Asic 6 slight decrease
http://www.image-heberg.fr/files/14042894686893.png


Other test with 3 ASIC :

Boot : http://www.image-heberg.fr/files/14042894688980.png (ok)
5 min : http://www.image-heberg.fr/files/14042894689633.png (decrease)
15 min : http://www.image-heberg.fr/files/14042894689784.png (more errors than results)

Actually i try with 5 ASIC, 5 x 450Watts, no UPS, in another room.
At 475Mhz, Asic 2 and 3 crash : http://www.image-heberg.fr/files/14042894686910.png
I reboot Asic 2 and 3, cgminer crash and auto-restart and i set at 500Mhz, for the moment, its stable.
 (5s):3.356T (1m):3.300T (5m):3.285T (15m):2.944T (avg):3.107Th/s
 A:1618944  R:0  HW:5399  WU:43465.0/m

Between delay and instabilities, it is a BIG disappointment for the moment...


What PSU's are you using?

Mine @ pools that pay Tx fees & don't mine empty blocks :: kanopool :: ckpool ::
Should bitmain create LPM for all models?
:: Dalcore's Crypto Mining H/W Hosting Directory & Reputation ::
Phoenix1969
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July 02, 2014, 01:27:56 AM
 #36343

I have two Neptune and its instable...
I tried different combination but it's complicated.

Single Asic totally crash after 15min :

http://www.image-heberg.fr/files/14042894688281.png
http://pastebin.com/hvDg9Hkc

5 Asic, 5 x 450Watts connected to a UPS (5000KVA, double conversion online).
Two brutally slow down with many errors (exemple : KnC: 5.1.100 disabled for 300 seconds due to repeated hardware errors)
http://www.image-heberg.fr/files/14042894686910.png

Good for 2 Asic but last, Asic 6 slight decrease
http://www.image-heberg.fr/files/14042894686893.png


Other test with 3 ASIC :

Boot : http://www.image-heberg.fr/files/14042894688980.png (ok)
5 min : http://www.image-heberg.fr/files/14042894689633.png (decrease)
15 min : http://www.image-heberg.fr/files/14042894689784.png (more errors than results)

Actually i try with 5 ASIC, 5 x 450Watts, no UPS, in another room.
At 475Mhz, Asic 2 and 3 crash : http://www.image-heberg.fr/files/14042894686910.png
I reboot Asic 2 and 3, cgminer crash and auto-restart and i set at 500Mhz, for the moment, its stable.
 (5s):3.356T (1m):3.300T (5m):3.285T (15m):2.944T (avg):3.107Th/s
 A:1618944  R:0  HW:5399  WU:43465.0/m

Between delay and instabilities, it is a BIG disappointment for the moment...

imho Sounds to me like HEAT is your main enemy by the times posted
Keep those VRM's cool


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crashoveride54902
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July 02, 2014, 01:32:01 AM
 #36344

I have two Neptune and its instable...
I tried different combination but it's complicated.

Single Asic totally crash after 15min :

http://www.image-heberg.fr/files/14042894688281.png
http://pastebin.com/hvDg9Hkc

5 Asic, 5 x 450Watts connected to a UPS (5000KVA, double conversion online).
Two brutally slow down with many errors (exemple : KnC: 5.1.100 disabled for 300 seconds due to repeated hardware errors)
http://www.image-heberg.fr/files/14042894686910.png

Good for 2 Asic but last, Asic 6 slight decrease
http://www.image-heberg.fr/files/14042894686893.png


Other test with 3 ASIC :

Boot : http://www.image-heberg.fr/files/14042894688980.png (ok)
5 min : http://www.image-heberg.fr/files/14042894689633.png (decrease)
15 min : http://www.image-heberg.fr/files/14042894689784.png (more errors than results)

Actually i try with 5 ASIC, 5 x 450Watts, no UPS, in another room.
At 475Mhz, Asic 2 and 3 crash : http://www.image-heberg.fr/files/14042894686910.png
I reboot Asic 2 and 3, cgminer crash and auto-restart and i set at 500Mhz, for the moment, its stable.
 (5s):3.356T (1m):3.300T (5m):3.285T (15m):2.944T (avg):3.107Th/s
 A:1618944  R:0  HW:5399  WU:43465.0/m

Between delay and instabilities, it is a BIG disappointment for the moment...

imho Sounds to me like HEAT is your main enemy by the times posted

i don't think it's heat...Loup can you watch the vrms temp...do alot of them get upto 100c? Loup, maybe try lower the volts n lower clock to see if they can indeed hash at full power? maybe check for metal shavings? maybe something is shorting out...oct. jups known for having them...knc loves to throw in extra parts to mess with ppl Smiley if they do hash at lower power then maybe it is your psu's...these units are pulling close to 300w and with a 450w...i dunno if the rail can handle it...also don't know if it's single or multi rail either...do you have a bigger psu you can test with?

Dreams of cyprto solving everything is slowly slipping away...Replaced by scams/hacks Sad
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July 02, 2014, 01:59:45 AM
 #36345

is  .0366 volts normal? What are they supposed to come set at?


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Loup Artic
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July 02, 2014, 02:23:27 AM
 #36346

I spent 24 hours at 500Mhz and 3.3Th/s.
I changed my room and very poor result Sad. Back in the first room.
For the moment, its always stable at 500Mhz and low HW. (0.09% !!).
(5s):3.328T (1m):3.293T (5m):3.269T (15m):3.273T (avg):3.214Th/s
 A:7611392  R:6144  HW:6909  WU:44915.7/m

http://www.image-heberg.fr/files/14042894687622.png
http://www.image-heberg.fr/files/14042894687639.png

PSU is generic (LDLC.COM) but stable and 80+. (2250 watts electric meter).
I ordered 6 x Corsair AX860 Modulaire - 860W to avoid having 5 PSU...
I try with an Corsair AX850 but PSU has broken down... (Only one Asic and controller).

I did not understand the functioning of voltage and I have not changed.
Maximum temperature for the day : 101°
I'm going to lower frequencies for the next days, 34° for thursday...
They will be installed in datacenter Monday.
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July 02, 2014, 03:26:45 AM
Last edit: July 02, 2014, 03:38:09 AM by Phoenix1969
 #36347

I spent 24 hours at 500Mhz and 3.3Th/s.
I changed my room and very poor result Sad. Back in the first room.
For the moment, its always stable at 500Mhz and low HW. (0.09% !!).
(5s):3.328T (1m):3.293T (5m):3.269T (15m):3.273T (avg):3.214Th/s
 A:7611392  R:6144  HW:6909  WU:44915.7/m

http://www.image-heberg.fr/files/14042894687622.png
http://www.image-heberg.fr/files/14042894687639.png

PSU is generic (LDLC.COM) but stable and 80+. (2250 watts electric meter).
I ordered 6 x Corsair AX860 Modulaire - 860W to avoid having 5 PSU...
I try with an Corsair AX850 but PSU has broken down... (Only one Asic and controller).

I did not understand the functioning of voltage and I have not changed.
Maximum temperature for the day : 101°
I'm going to lower frequencies for the next days, 34° for thursday...
They will be installed in datacenter Monday.
Wow...  I also was thinking about the 850 for a single box and controller... not so much now... lol.
So, at night, when ambient temps cool down for the day...   what you get then?
I bet you'll be fine come monday...

Everything power related will effect performance, including different circuits in the house... (Happened to me with Jupiters)
making coffee or toast on the same circuit is obviously not a good idea.
Short 10/2 wire from outlet to breaker helps too if you're savvy.
The more pure and unhindered the current supply is, the smoother your asics will run.


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tolip_wen
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July 02, 2014, 04:03:47 AM
Last edit: July 02, 2014, 04:21:57 AM by tolip_wen
 #36348

I spent 24 hours at 500Mhz and 3.3Th/s.
I changed my room and very poor result Sad. Back in the first room.
For the moment, its always stable at 500Mhz and low HW. (0.09% !!).
(5s):3.328T (1m):3.293T (5m):3.269T (15m):3.273T (avg):3.214Th/s
 A:7611392  R:6144  HW:6909  WU:44915.7/m

http://www.image-heberg.fr/files/14042894687622.png
http://www.image-heberg.fr/files/14042894687639.png

PSU is generic (LDLC.COM) but stable and 80+. (2250 watts electric meter).
I ordered 6 x Corsair AX860 Modulaire - 860W to avoid having 5 PSU...
I try with an Corsair AX850 but PSU has broken down... (Only one Asic and controller).

I did not understand the functioning of voltage and I have not changed.
Maximum temperature for the day : 101°
I'm going to lower frequencies for the next days, 34° for thursday...
They will be installed in datacenter Monday.
Wow...  I also was thinking about the 850 for a single box and controller... not so much now... lol.
So, at night, when ambient temps cool down for the day...   what you get then?
I bet you'll be fine come monday...

Everything power related will effect performance, including different circuits in the house... (Happened to me with Jupiters)
making coffee or toast on the same circuit is obviously not a good idea.
Short 10/2 wire from outlet to breaker helps too if you're savvy.
The more pure and unhindered the current supply is, the smoother your asics will run.


I ran single cube and controller on AX760 for days without issue.
I ran about an hour with 2 cubes and controller on AX760.
EDIT I only ended the 2 cube test cause I don't like to run PSU at max output.

I used only first PCIe connector on double PCIe cables FWIW.

YMMV
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AFox
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July 02, 2014, 06:06:52 AM
 #36349

Just wondering if Batch 1 or 2 have started receiving their Neptunes yet.
No and no more Neptunes shipping !



From KNC last news (link) :
Quote
Each and every production-ready Neptune processor we’ve been able to produce has been shipped out to customers
[...]
the demand for Neptunes has been bigger than the successful yield of 20nm wafers has been able to satisfy.

That means they don't have any 20nm chips !
That means no more Neptunes will ship !
It's going to take weeks before receiving new 20nm chips !

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July 02, 2014, 06:08:03 AM
 #36350

Just wondering if Batch 1 or 2 have started receiving their Neptunes yet.
No



No more Neptunes shipping !
From KNC last news (link) :
Quote
Each and every production-ready Neptune processor we’ve been able to produce has been shipped out to customers
[...]
the demand for Neptunes has been bigger than the successful yield of 20nm wafers has been able to satisfy.

That means they don't have any 20nm chips !
That means no more Neptunes will ship !
It's going to take weeks before receiving new 20nm chips !

This can't be true. They had A LOT of refunds so they must have a lot of Neptunes available.

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July 02, 2014, 06:09:02 AM
 #36351

Just wondering if Batch 1 or 2 have started receiving their Neptunes yet.
No and no more Neptunes shipping !



From KNC last news (link) :
Quote
Each and every production-ready Neptune processor we’ve been able to produce has been shipped out to customers
[...]
the demand for Neptunes has been bigger than the successful yield of 20nm wafers has been able to satisfy.

That means they don't have any 20nm chips !
That means no more Neptunes will ship !
It's going to take weeks before receiving new 20nm chips !

This can't be true. They had A LOT of refunds so they must have a lot of Neptunes available.
I edited my post and added link to their news
Go look yourself.

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July 02, 2014, 06:11:38 AM
 #36352

Just wondering if Batch 1 or 2 have started receiving their Neptunes yet.
No and no more Neptunes shipping !



From KNC last news (link) :
Quote
Each and every production-ready Neptune processor we’ve been able to produce has been shipped out to customers
[...]
the demand for Neptunes has been bigger than the successful yield of 20nm wafers has been able to satisfy.

That means they don't have any 20nm chips !
That means no more Neptunes will ship !
It's going to take weeks before receiving new 20nm chips !

More BS from KNC.  They only tell you what they want you to HEAR.
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July 02, 2014, 06:28:43 AM
 #36353

I edited my post and added link to their news
Go look yourself.

I read the news, but it's simply stupid. The demand for Neptunes CAN'T be bigger than the wafers because they had a lot of refunds and people ordering now are going into Batch 3 so Batch 1 and 2 shouldn't be a problem since they knew for more than 6 months how many units they need and if we add the tons of refunds something doesn't add up. But it's KnC. Expect the worst!

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July 02, 2014, 07:55:41 AM
 #36354

I edited my post and added link to their news
Go look yourself.

I read the news, but it's simply stupid. The demand for Neptunes CAN'T be bigger than the wafers because they had a lot of refunds and people ordering now are going into Batch 3 so Batch 1 and 2 shouldn't be a problem since they knew for more than 6 months how many units they need and if we add the tons of refunds something doesn't add up. But it's KnC. Expect the worst!

The yield per wafer can be low; it's not guaranteed especially at the forefront of nm technology. They might have expected 90% usable chips from each wafer and ended up getting 50% usable chips. Plus 20nm is really just pushing the 28nm methods harder while waiting for 16nm.

Long story short, if you're waiting for batch one Neptune which you're not going to get any time soon post in my thread above.

u27

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July 02, 2014, 08:00:21 AM
 #36355

I edited my post and added link to their news
Go look yourself.

I read the news, but it's simply stupid. The demand for Neptunes CAN'T be bigger than the wafers because they had a lot of refunds and people ordering now are going into Batch 3 so Batch 1 and 2 shouldn't be a problem since they knew for more than 6 months how many units they need and if we add the tons of refunds something doesn't add up. But it's KnC. Expect the worst!

The yield per wafer can be low; it's not guaranteed especially at the forefront of nm technology. They might have expected 90% usable chips from each wafer and ended up getting 50% usable chips. Plus 20nm is really just pushing the 28nm methods harder while waiting for 16nm.

Long story short, if you're waiting for batch one Neptune which you're not going to get any time soon post in my thread above.

u27

you may well find that more than half of batch 1 buyers actually refunded some time ago - around the time I was telling you to jump off the train (this is in no way a 'told you so') I was hopeful for you (and others) right to the end.

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July 02, 2014, 08:20:09 AM
 #36356

This can't be true. They had A LOT of refunds so they must have a lot of Neptunes available.

Originally this batch of chips was only meant to cover the CA batch, has anyone from "B1" received their neptunes?
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July 02, 2014, 08:21:40 AM
 #36357

I edited my post and added link to their news
Go look yourself.

I read the news, but it's simply stupid. The demand for Neptunes CAN'T be bigger than the wafers because they had a lot of refunds and people ordering now are going into Batch 3 so Batch 1 and 2 shouldn't be a problem since they knew for more than 6 months how many units they need and if we add the tons of refunds something doesn't add up. But it's KnC. Expect the worst!

The yield per wafer can be low; it's not guaranteed especially at the forefront of nm technology. They might have expected 90% usable chips from each wafer and ended up getting 50% usable chips. Plus 20nm is really just pushing the 28nm methods harder while waiting for 16nm.

Long story short, if you're waiting for batch one Neptune which you're not going to get any time soon post in my thread above.

u27

you may well find that more than half of batch 1 buyers actually refunded some time ago - around the time I was telling you to jump off the train (this is in no way a 'told you so') I was hopeful for you (and others) right to the end.

You also have to remember that only a tiny proportion of KnC's customers come from bitcointalk, if half of their customers from here refunded it probably accounts for less than 5% of their customer base.

Think about how many people actually physically post on here? Its the same old names over and over. Also, as with all sales you hardly ever hear from the people who are satisfied with their purchase or the service they receive, the noise is always from the small few who feel disgruntled or hard done by etc.

Face it, none of us have any clue about a company like KnC's true customer base, but I do remember that when I met Sam he didn't consider this forum to be of much interest in terms of where his sales come from. That might be hard for the egos of some to take in, but its probably true to a large extent.

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July 02, 2014, 08:26:59 AM
 #36358

No shippings but they post this pic of FB?

https://www.kncminer.com/news
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July 02, 2014, 08:28:15 AM
 #36359

I edited my post and added link to their news
Go look yourself.

I read the news, but it's simply stupid. The demand for Neptunes CAN'T be bigger than the wafers because they had a lot of refunds and people ordering now are going into Batch 3 so Batch 1 and 2 shouldn't be a problem since they knew for more than 6 months how many units they need and if we add the tons of refunds something doesn't add up. But it's KnC. Expect the worst!

The yield per wafer can be low; it's not guaranteed especially at the forefront of nm technology. They might have expected 90% usable chips from each wafer and ended up getting 50% usable chips. Plus 20nm is really just pushing the 28nm methods harder while waiting for 16nm.

Long story short, if you're waiting for batch one Neptune which you're not going to get any time soon post in my thread above.

u27

you may well find that more than half of batch 1 buyers actually refunded some time ago - around the time I was telling you to jump off the train (this is in no way a 'told you so') I was hopeful for you (and others) right to the end.

You also have to remember that only a tiny proportion of KnC's customers come from bitcointalk, if half of their customers from here refunded it probably accounts for less than 5% of their customer base.

Think about how many people actually physically post on here? Its the same old names over and over. Also, as with all sales you hardly ever hear from the people who are satisfied with their purchase or the service they receive, the noise is always from the small few who feel disgruntled or hard done by etc.

Face it, none of us have any clue about a company like KnC's true customer base, but I do remember that when I met Sam he didn't consider this forum to be of much interest in terms of where his sales come from. That might be hard for the egos of some to take in, but its probably true to a large extent.

agreed, they have run their google ads for some time now, and I believe, still advertising their scrypt rigs...

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July 02, 2014, 08:36:39 AM
 #36360

Well, here we go with KnC, another Brock Pierce company. Or, as Coindesk in their usually uncritically way writes: "Pierce has helped found GoCoin, ExpressCoin, KnCMiner and Robocoin Asia, and recently launched a plan to save the now-bankrupt bitcoin exchange Mt. Gox."

Some of you may not have followed the recent controversy around Pierce, so here's a summary:

Quote
It was none other than Dana Giacchetto who was behind the financing of a video company owned by Marc Collins-Rector, named in the stunning lawsuit filed against “X Men” director Bryan Singer this week.

As soon as I saw the name Marc Collins-Rector, I knew that a big piece of an old jigsaw puzzle had finally been found.

Michael Egan alleges rape and all kinds of sexual horrors by Singer and others at a Hollywood estate in 1999-2000. Collins- Rector owned the estate, formerly owned by rapper and felon Marion “Suge” Knight.

Egan would have been a teen then. His allegations fit in with another story I was reporting at that time, about criminal business manager and Ponzi schemer Dana Giacchetto (Leonardo DiCaprio and Mike Ovitz’s former BFF) and a company called DEN– Digital Entertainment Network, which was owned by Collins- Rector.

It’s a lurid story of Hollywood at its worst. Egan says today that he originally filed a suit in 2000, when all this was going on, but no one listened to him. Now it all may come out. And if Singer is culpable, the saga may involve a lot of well known names.

The Collins-Rector part of the story is what should concern all the parties involved.

Giacchetto (laughingly profiled in this week’s Hollywood Reporter– he just lies and they don’t seem to know it) had started yet another fraudulent financial entity called Cassandra Chase. He’d gotten Microsoft and Dell to invest in DEN.

This is what I wrote first back in 1999 before Giacchetto’s involvement was exposed:

Brock Pierce is not a name you might recognize right away. But the 19 year blonde actor has a long history in Hollywood. He played Emilio Estevez’s younger self in both “Mighty Ducks” movies for Disney and has a host of other credits in teen TV and movies. Now Pierce has become involved in a weird internet scandal. A couple of weeks ago, Pierce was forced to resign from a company he co-founded call Digital Entertainment Network. The company maintains a web site called DEN.com which is backed by investors like Microsoft and Dell. And their purpose is to provide Internet programming that’s like television but isn’t quite—sort of streaming video “shows.”

You might wonder how Pierce, a mere 19 year old, could be the founder of such a company. Or how he managed to swing a four year contract at $250,000 per year plus stock perks and bonuses. I did too.

Somehow Pierce fell in with the real “brains” behind the DEN operation are a guy named Michael Collins-Rector, who’s 40, and Chad Shackley, who’s 24. In May, Collins-Rector was sued by an 18 year old named Jacob Walker. The charge? That Collins-Rector, when he ran another Internet company called Concentric, out of Bay City, Michigan, picked Walker up in a chat room when he was just 13 years old. At the time, Collins-Rector was already partnered up, so to speak, with Shackley, who was then 19 himself. In fact, in other papers, Collins-Rector claimed that Shackley had been with him since 1991, or when he was 16.

Walker charged in his suit that Collins-Rector had sexually abused him over the next three years. He even flew Walker out to L.A. when he and Shackley left Bay City for Beverly Hills. Sources tell me that Collins-Rector, Shackley and Pierce have all been living in the former mansion of rap kingpin Marion “Suge” Knight, who is currently in prison.

Last month, Collins-Rector settled the suit of court with Walker and resigned from DEN. Shackley and Pierce also resigned, although they were not named in the suit.

DEN continues to operate. They had planned to make a public offering, or IPO, for $75 million but that has been derailed due to this weird situation. Some of their principles include record company execs Gary Gersh and Jeff Silva, who were brought in to handle the music end of things.

The DEN deal was put together by Chase Cassandra Partners, now known as Chase Capital Entertainment Partners. The actual people in this company include Jeffrey A. Sachs, a former adviser to New York governors Cuomo and Carey, who is also a former dentist. When Sachs put the deal together he was a partner also of Dana Giacchetto, the hotshot money manager who had become best friends with Leonardo DiCaprio and Hollywood agent Michael Ovitz. In the new edition of The New York Observer, which can be found online as well at newsstands, I write about Giacchetto and his unprecedented fall from grace.

In a statement from Collins-Rector, by the way, the DEN founder said he was moving on to start a new business. Guess what it was? Something to do with internet privacy.

While they were at DEN, the founding trio really lived it up. They spent $12 million in the first six months of 1999 on “salaries and other benefits.” They spent another nearly $3 million developing and launching their first internet series. It was  half hour show called “Chad’s World,” named presumably for Shackley and produced by the wunderkind, Pierce. Its subject: the life of a gay teenager.

As for Pierce: I don’t know what his future is in Hollywood, but it’s evident that he hasn’t talked to his dad in quite a while. When I called Jeff Pierce in St. Louis Park, Minnesota he said he had not heard of the scandal and did not know what Brock was up to. “I’ll tell you what, though,” Mr. Pierce said to me, “he’s a smart kid.” I guess so.

And this is what followed after Giacchetto was discovered (by me in the New York Observer and Foxnews.com) to be a fraud who’d gotten his clients to invest in Collins- Rector’s company:

Unbeknownst to Giacchetto, an 18 year old named Jacob Walker filed suit against DEN and its principals in May 1999. He claimed that the company’s founder, Marc Collins-Rector, now 40, had picked him up in a chat room on the Internet five years earlier and sexually molested him for some time. It didn’t help that Collins Rector already had a dicey past: his current partner, Chad Shackley, is only 24 now and advertises the fact that he’s been with Collins-Rector since 1991. Then there’s Brock Pierce, an 18 year old former child actor who seems to be Shackley’s roommate now.

Last week, Collins-Rector settled his suit with Walker by walking away from DEN. He took Shackley and Pierce with him. But before they went, the three had been planning a $75 million IPO. (With Cassandra-Chase’s help, they had also added record company vets Gary Gersh and John Silva to DEN, as well as executive David Neuman.) The IPO has since, obviously, been sidelined.

During their brief, glorious run at DEN, the trio lived it up. In their recent SEC filing they claim to have spent $12 million on salaries during the first six months of 1999. More than two million was spent on developing an Internet “TV” series produced by Pierce called “Chad’s World,” about a troubled gay teen. “Chad’s World” has already come and gone from the Net.

More to come…

And more recent:

Quote
Bitcoin Foundation is likely losing a part of its backbone due to the controversy following last week’s election of Brock Pierce as new director.

The Foundation is facing several cancellations of memberships with Patrick Alexander leading a wave of resignations of around 10 members who claim that they simply wish to distance themselves from the Foundation.

The news of resignations follows the election results for two new board members – Bobby Lee, head of BTC China with 79 percent approval, and Brock Pierce, current Bitcoin entrepreneur and financier with 65 percent approval, to replace Charlie Schrem and Mark Karpeles.

The Election of Brock Pierce seems to have caused a rift within the community and the Foundation, with members publicly renouncing their current membership with the Foundation.

Patrick Alexander started a thread on the Bitcoin Foundation forums stating “Unfortunately I must resign as an individual member of the Bitcoin Foundation.”

Alexander points to Charlie Shrem (former BitInstant CEO who is accused of money laundering), Mark Karpeles (former Mt. Gox CEO), and Brock Pierce (newly-elected board member with some past legal issues) and remarks that the Foundation to be heading in the wrong way as such attention is not what the Foundation needs. He claims that the board should rather be comprised of individuals having high morals.

Following Alexander, Oliver Janssens, Stephen Sunderlin, Pierre Rochard, Patrick Levell, Michael Goldstein, Stephen Angelil, Dan Plante and Christian Antkow have also parted ways with the Foundation.

Lifetime member Oliver Janssens also announced that he was quitting the Foundation, citing Brock Pierce’s troubled past including allegations in lawsuits on corporate fraud and child porn from employees of his first company, Digital Entertainment Network. Pierce has clearly denied the accusations.

“The allegations against me are not true, and I have never had intimate or sexual contact with any of the people who made those allegations,” Pierce said in an emailed statement to Reuters.

Bitcoin Foundation General Counsel Patrick Murck said that with more than 1,500 members the Foundation would bounce back from the latest controversy soon.

“Democracy is messy sometimes,” Murck said. “If in the future members decide they want to have a vetting process, that’s great.”

Bitcoin Foundation forum admin Brad Wheeler has also responded to Alexander’s post, outlining why there was little to no vetting of members during selection and has urged the members to read the Bitcoin Foundation’s bylaws.

Currently, some more stories are being researched by journalists, and these stories involve KnC and Brock Pierce's involvment.

It seems as if KnC started well, but turned into a hughe Ponzi-scheme. Glad who was able to get a refund. Glad who was able to get a miner - they may sell on Crapbay for making some money. The big rest may just have been screwed by Pierce and his buddies.


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