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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3039464 times)
btc_uzr
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August 25, 2013, 02:17:07 PM
 #7061

is this just a funny coincidence?
read first definition...

http://www.webdictionary.co.uk/definition.php?query=Eve

..and Thou shalt spread the coin in the name of cryptography for eternity
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DPoS
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August 25, 2013, 02:26:40 PM
 #7062

Why do so many here keep taking the trolls seriously?

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August 25, 2013, 02:27:40 PM
Last edit: August 25, 2013, 02:39:16 PM by Bitcoinorama
 #7063


Also, the IceDRILL thing doesn't get the MPP.  Apparently they were going to charge money for it originally, and would have with icedrill:


Will IceDrill be covered under the miner protection program that was recently announced?

Sorry, needed a bit of time to compare our notes from the offering then with the current public (Baby Jet) MPP.

1. The premium on the "insurance" was substantial, and was only presented as an option at the highest level of bulk buy, which was well beyond what we calculated the IPO fundraising could achieve in the current competitive, highly-saturated mining investment market.


Hang on, WTF?! So they are supposedly actively paying a third party to insure the possibility of handing out extra chips, but refuse to pay a third party like Paypal 2.9% to process credit cards and offer real payment protection to their customers supporting their venture!?!??

I call bullshit, once NRE is covered an extra chip will only cost them a few dollars to hand out. It's the equivalent of your stingy uncle saying, here you go sonny, here's £10, don't go spending or all at once. They aren't paying for the expensive part, the rest of the hardware.

They don't need anyone to insure extra chips. If they have chosen that route, whilst ignoring third party payment protection, and effectively removing as much accountability as possible it screams how unconfident they are about their claimed deadline. This is just reckless handling of customer funds, they want a free ride to a comfortable lifestyle for themselves.

As for KLees comments, think about it man, 'Miner Protection' BS only comes into effect when network competitively and costs of electricity negate possibility to reclaim funds spent, i.e. if they are delayed. If they could actually deliver in October MPP is unnecessary.

KnC don't need to offer such gimmicks of they deliver on time. Hashfast are trying their damnedest to poach customers with their MPP (again pointless if they can deliver on time) as they know full well if KnC deliver, and ship as many units per day as they claim, come October/November you could buy KnC units in stock. Which would you rather choose now? Bearing in mind KnC can match price as they no longer have NRE to cover.

For you the customer you know full well the lions share of profit is to be made from now until December. Who needs MPP if you have covered your costs before Hashfast eventually deliver?

Real miner protection is delivering on time, before November, well before crazy hashrate and electricity costs are even an issue....

Think.

If KnC miss their deadline massively, I can claim my money back from my card issuer, boom, that's real protection.

If Hashfast miss their deadline, I'm stuck with no chance of a full refund, watching everyone else already mining, or purchasing products that are priced cheaper, in stock, delivered next day.

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
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Phoenix1969
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August 25, 2013, 03:47:24 PM
Last edit: August 25, 2013, 04:04:50 PM by Phoenix1969
 #7064

I think he/they mistook Hashfast & BFL for someone who was honest.
The "Bull Run" is/was a giant load of BS lies, designed to give an excuse why they are AGAIN not delivering on time to the poor folks who were dumb enough to "Upgrade" to Monarch. It was nothing more than a creative way to lower the backlog, transfer orders from refundable to non-refundable, and replenish their dwindling cash reserves which were spent on reworks and super-extended payment to assembly cavemen because BFL had never built a single ASIC before Bitcoin. The  "Bull Run" scenario & 2 month delay was never mentioned until they had made a "Clean sweep" of "upgrades" from those with lesser intelligence. That was really dirty.
I already saw the red-flags concerning Hashfast the moment they said they were making only 550 baby jets. The crew also looks like a bunch of fruits, nuts & flakes.  What about all the other chips on the reel? Seems to me as if they plan on hashing most of the chips themselves; not to mention they can't seem to even pre-sell a measly 550 machines. All the time telling folks how they are going to deliver faster than the other vendors, and even posting the "Why we're better than KNC" garbage, in which they got the figures all wrong.
P.T Barnum was certainly correct in saying "There's a sucker born every minute"
I personally hope they pay for what they've done somehow, both BFL AND Hashfast.

KNC has also stated they are NOT doing "Batch" production or shipping.
People are probably getting pretty nervous by now.


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August 25, 2013, 04:35:11 PM
 #7065

Knc will be the next terrahash
Phoenix1969
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August 25, 2013, 04:40:06 PM
 #7066

It is downright retarded to think that the MPP is beneficial.

If it was for (1) Miner, yes it would help.

But if you have to give 550 Miners up to 4 times more chips (Thats 880TH more added to the network, increasing difficulty that much more)

What "Profit Calculation" do they do?

When do they provide the chips? At the end of the 90 Days?
Exactly Bar...  "Between the lines" the NPP also screams late delivery. It was certainly worded like they know they're not delivering on time.


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Phoenix1969
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August 25, 2013, 04:43:49 PM
Last edit: August 25, 2013, 04:57:39 PM by Phoenix1969
 #7067

Knc will be the next terrahash
Mega-Facepalm....welcome to the ignore list


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ASIC-K
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August 25, 2013, 04:44:08 PM
 #7068

Knc will be the next terrahash
welcome to the ignore list

+1
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August 25, 2013, 04:46:04 PM
 #7069


Also, the IceDRILL thing doesn't get the MPP.  Apparently they were going to charge money for it originally, and would have with icedrill:


Will IceDrill be covered under the miner protection program that was recently announced?

Sorry, needed a bit of time to compare our notes from the offering then with the current public (Baby Jet) MPP.

1. The premium on the "insurance" was substantial, and was only presented as an option at the highest level of bulk buy, which was well beyond what we calculated the IPO fundraising could achieve in the current competitive, highly-saturated mining investment market.


Hang on, WTF?! So they are supposedly actively paying a third party to insure the possibility of handing out extra chips, but refuse to pay a third party like Paypal 2.9% to process credit cards and offer real payment protection to their customers supporting their venture!?!??

Uh no, what I got is that Hashfast was "offering" to sell the MPP as a product. So like, you pay an extra 10% (to them) and then if you don't ROI you get extra chips.  For the BabyJet they decided to give away the MPP for free.

Anyway, I think the MPP is way too complicated. Charging extra for it just seems extra scammy, like "here's some insurance you can buy (from us) to cover the possibility we're ripping you off"

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August 25, 2013, 04:49:00 PM
 #7070

Knc will be the next terrahash

Put your money where your mouth is: http://bitbet.us/bet/472/kncminer-will-deliver-asic-devices-before-october-1st/

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August 25, 2013, 04:56:07 PM
 #7071

They won't be ready in October, that's a pipe dream... they didn't even tape out yet. By the time they ship their miners, KNC should have shipped their September and October orders. It is fairly probable that they will eventually deliver, but by then KNC should have cheaper hardware and the proud owners of BabyJets will probably feel that their units are more Baby than Jets Cheesy.

Sorry, but I just can't help thinking of nappy (diaper for our US cousins) changes when I hear the name BabyJet. I'm sure that the image that I have in my mind when I think of a "baby jet" is not what HashFash had in mind when naming their miner Cheesy - unless it's all a big joke and they are laughing at us!

Is this what you have in mind?


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August 25, 2013, 04:59:25 PM
 #7072

The name "Baby Jet" is actually from one of the founder's kids.  He named his daughter "Jet" and she's currently a baby.

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August 25, 2013, 05:01:31 PM
 #7073

her name is jet??? weird

baby jet is really really lame.
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August 25, 2013, 05:03:05 PM
 #7074

Still no photos of the chip.is impossible to have it work at September
Unphotographed chips are perfectly capable of running, believe it or not.

We were not promised, and I do not expect, photos of the chips. Since they will be sent straight from China to their assembler.

In China. Most likely.

Here, put your money where your whining is:

http://bitbet.us/bet/472/kncminer-will-deliver-asic-devices-before-october-1st/


Oh yes, please keep doing that. I have one of the earliest yes bets :-D
If 'yes' wins we'll triple our money Smiley

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August 25, 2013, 05:04:40 PM
 #7075

On "Baby Jet" I was thinking more along the lines of...



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Anenome5
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August 25, 2013, 05:06:28 PM
 #7076

KNC's "miner protection program" is simple: they'll ship on time.

Democracy is the original 51% attack.
Anenome5
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August 25, 2013, 05:10:54 PM
 #7077

The name "Baby Jet" is actually from one of the founder's kids.  He named his daughter "Jet" and she's currently a baby.
That's really cute Smiley

Democracy is the original 51% attack.
Phoenix1969
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August 25, 2013, 05:17:45 PM
 #7078

KNC's "miner protection program" is simple: they'll ship on time.
I look for them to be the very first to do so... We'll see most of the naysayers jumping on the bandwagon then for Gen2 most likely, saying they always knew KNC was the best choice. Only 6 days left till October, so we'll see within a month just who is who in the Asic game.


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soy
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August 25, 2013, 05:26:13 PM
Last edit: August 25, 2013, 05:49:50 PM by soy
 #7079

Miner protection offered by KnC would be a huge plus.

A New Yorker relocated to rural Georgia, I sometimes get surprised at the lengths gone to make money down here.  Cable was new and the local company went out to all the rural homes and ran cable no charge.  Very sloppy but done.  They put in fiber early on which was great.  They wanted no personal routers and to be called in for home networking but of course that didn't fly.  No telling if that was official or just cable guys wanting more work.  Every telephone pole has a ground wire from the inter pole steel cables.  The something like #10 gauge uninsulated copper ran down the pole and grounded the support cable in conjunction with the steel cables to a ground support.  The cable company also used these grounds, clamping in grounds from from their junction boxes strung on the lines.  Those junction boxes hanging in the air under their own support steel cables have #10 copper clamped from one side of the junction box to the other over the junctions providing a lower resistance conductor than the steel cable as just a little better safeguard from lightening surges.  Now every telephone pole has, or had, one of these grounds.  On my property, the home is ~535 feet from the front property line and there are two telephone poles within my fence and one on the road outside my fence.  I get my cable from an office in a town 17 miles south.  When there's a problem they farm out the troubleshooting to a private electric company in Alabama.  The cable company's own trucks do major work however.  Mowing my lawn along the road this year my mower got caught in some #10 wire, uninsulated, lying in the grass a few feet from the roadside telephone pole.  It had been cut from the pole about a foot from the ground to about 5 feet from the ground, a 4 foot gap.  I immediately suspected an antisocial neighbor but then I noticed other poles on the road also had the ground cut in the same manner.  Jogging 5k south and back I noticed the telephone poles there also had the grounds cut.  I wrote to the cable company and the power company.  The cable company sent somebody from Alabama who called his boss then handed me the phone whence I was told they weren't going to replace the cut ground.  They said that the other poles on my property all had grounds.  What this does, removing the grounds on telephone poles along the road, is to reduce the number of paths to ground for the energy of a lightening strike increasing the damage radius.  This was either done officially by the power or cable company, like arguing the grounds increased the likelihood of a lightening strike (but removing the ground wires increasing their repair calls thus giving them statistics for higher rates) or by the workers of the private Alabama company that services the area so they'd have increased service calls and make more money.  Particularly, the unpopulated areas without power transformers for non-existant homes or cable, why remove the grounds there except to have a higher probability of lightening energy out there traveling to populated areas causing damage.  So, yes, some kind of insurance policy by KnCMiner would be nice.

I remember years ago a tow truck company got nailed for pouring oil on a something like a bridge entrance ramp so as to drum up business.
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August 25, 2013, 05:39:27 PM
 #7080

They do come with a 1 year warranty.
As long as they are on time, and within spec; that's all the insurance they should be liable for.
You can't expect a company to insure the network difficulty rate, that's absurd.


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