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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3008047 times)
soy
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September 05, 2013, 05:46:39 PM
 #8521

Could this recent spike in the Hash Rate be KNC testing units??

Under promise over deliver EARLY?? or just my wishful thinking??

https://blockchain.info/charts/hash-rate

The spike was caused by Bitfury as others has said. KNC most likely will be using our pool information from our accounts when they test our units. Just monitor the forum for post from any of those Day 1 and 2 orders. They will be the first to see activity in their pools if KNC does this

So, is the implication that KnC will burn-in our miners using our BTC payout address and preferred pool?  That might work with Eligius given that no password is required but not Slush's.



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September 05, 2013, 05:48:59 PM
 #8522

This was dealt with a month ago.  You might want to go take a look before repeating something that is no longer true.


  
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September 05, 2013, 05:59:06 PM
 #8523

This was dealt with a month ago.  You might want to go take a look before repeating something that is no longer true.





No offense but are you  replying to my post, that preceding?  It wouldn't be any big thing if they weren't burning in our miners to our payout addresses and to be truthful I didn't start reading this thread at page 1.

Edit:  Hadn't seen the worker password box previously.



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September 05, 2013, 06:03:46 PM
 #8524

Could this recent spike in the Hash Rate be KNC testing units??

Under promise over deliver EARLY?? or just my wishful thinking??

https://blockchain.info/charts/hash-rate

The spike was caused by Bitfury as others has said. KNC most likely will be using our pool information from our accounts when they test our units. Just monitor the forum for post from any of those Day 1 and 2 orders. They will be the first to see activity in their pools if KNC does this

So, is the implication that KnC will burn-in our miners using our BTC payout address and preferred pool?  That might work with Eligius given that no password is required but not Slush's.

No, you can enter a worker name and worker password, but they don't currently have a free-form URL field You have to pick from one of the options they give you.  Slush is on the list.

However, I would not use slush if I were you, you don't get paid fully unless a block is found while you are hashing with them for at least 10-20 minutes, and you don't get anything unless a block is found within 20m of you stopping hashing (and almost nothing if it's more then 5m after)

Go with a pool doing a PPLNS or PPS.  Eligius will give you the most interesting stats, but you don't have control over payouts.

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September 05, 2013, 06:06:40 PM
 #8525

KNC is a stand up group of people. I had to make some changes to my orders and got a partial refund and they took care of it right away. I feel confident they'll deliver on time and at a greater hash rate than 400 for the Jupiters. Their actions and the professional and courteous way they have treated me has only strengthened my belief that they will produce as expected.
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September 05, 2013, 06:41:44 PM
 #8526

Not all banks have the same requirements for merchant accounts. While some may only need you to pay a monthly fee to swipe cards, others require much more investment to take cards online, especially international orders.

Either way, this is either an excellent long-con with well-done professional highlights, or they're really hanging their ass out the window for the customer's loyalty.

I'll be honest, either the long con or the loyalty aspect will bring you about the same amount of orders right now. BFL has ensured that, and truthfully my wager is that this is a legit business. They'll make more money being legit at this point.

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September 05, 2013, 06:46:52 PM
 #8527

Getting a merchant account is freaking easy.  You don't have to prove anything.  They wire that up to your bank account.  I have one.  And I don't have a miner to show them or whatever.  Have a good credit score?  You can get one.  The reason people don't is because of charge-backs and fees.  The credit card companies take around 5% to pay for the service and your cash back bonuses and Amazon points or whatever you have on your card.  A manufacturer is not allowed to charge more for a credit card purchase vs a regular purchase (Visa/MC rules forbid it) so you either raise all your prices by 5% or eat the cost.  

Then, if someone calls their bank and says, "I didn't order this" the folks at the bank yank the money out of your account and if it happens more than a few times you pay higher and higher fees.  So in this market, it's a huge risk to offer credit card without being prepared to be dealing with charge backs and the fees.

Cool that KNC is willing to take that risk.  It does show they are willing to eat a sh*t sandwich to make a sale, which is great.  But let's not make it sound like getting a merchant account is some rigorous process, because it isn't.

Word up..  My 12 year son got one..


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September 05, 2013, 06:53:02 PM
 #8528

I agree that knc is most likely legit, but why do they need to perpetuate this insanely risky(for the buyer) pre-order model at this point? AM and the secondary market have demonstrated beyond any reasonable doubt that in hand hardware for immediate delivery commands a significant premium over hardware paid for now and delivered in x months down the road. Knc plainly has the funding to become the second major player to only sell what they actually have, but they're passing on the opportunity to change the scenery and likely leaving money on the table doing so. Instead bitfury will likely wear this crown and it will erode knc's future sales.

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September 05, 2013, 06:56:33 PM
 #8529

I agree that knc is most likely legit, but why do they need to perpetuate this insanely risky(for the buyer) pre-order model at this point? AM and the secondary market have demonstrated beyond any reasonable doubt that in hand hardware for immediate delivery commands a significant premium over hardware paid for now and delivered in x months down the road. Knc plainly has the funding to become the second major player to only sell what they actually have, but they're passing on the opportunity to change the scenery and likely leaving money on the table doing so. Instead bitfury will likely wear this crown and it will erode knc's future sales.

Until they've failed to deliver the first-gen stuff, they aren't perpetuating any preorder model. What opportunity are they passing up? The first-gen stuff is limited number like the other manufacturers. Second-gen orders are being taken (like other manufacturers), so that the pipes stay fed for constant output.

Little lost on where you went with that.

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September 05, 2013, 07:05:03 PM
 #8530

I agree that knc is most likely legit, but why do they need to perpetuate this insanely risky(for the buyer) pre-order model at this point? AM and the secondary market have demonstrated beyond any reasonable doubt that in hand hardware for immediate delivery commands a significant premium over hardware paid for now and delivered in x months down the road. Knc plainly has the funding to become the second major player to only sell what they actually have, but they're passing on the opportunity to change the scenery and likely leaving money on the table doing so. Instead bitfury will likely wear this crown and it will erode knc's future sales.

Until they've failed to deliver the first-gen stuff, they aren't perpetuating any preorder model. What opportunity are they passing up? The first-gen stuff is limited number like the other manufacturers. Second-gen orders are being taken (like other manufacturers), so that the pipes stay fed for constant output.

Little lost on where you went with that.

I don't believe they will fail to deliver first gen stuff(which is actually 2nd gen stuff for the ASIC BTC mining community), but they've offered pre-orders for the very same gear at lower prices for November delivery when they could easily have simply said "no more pre-orders", "no more zero interest loans", "no more offloading 100% of the risk to investors/customers" and instead offered hardware for immediate delivery at premium prices in November and beyond. I understand the appeal of the pre-order model when a vendor is green as they don't likely have the VC funding to cover NRE costs, but knc is essentially playing with house money now and has had a chance to differentiate themselves...they passed.

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September 05, 2013, 07:24:33 PM
 #8531

I agree that knc is most likely legit, but why do they need to perpetuate this insanely risky(for the buyer) pre-order model at this point? AM and the secondary market have demonstrated beyond any reasonable doubt that in hand hardware for immediate delivery commands a significant premium over hardware paid for now and delivered in x months down the road. Knc plainly has the funding to become the second major player to only sell what they actually have, but they're passing on the opportunity to change the scenery and likely leaving money on the table doing so. Instead bitfury will likely wear this crown and it will erode knc's future sales.

no preorder = no yield

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September 05, 2013, 07:33:25 PM
 #8532

I'm sure that it has been discussed before, but I really don't want to go through 400+ pages to find my answer. My question is about the pre-installed cgminer, more exactly, will it also have the "chosen" pool details already on it? Asking cause I've noticed those fields on the knc website where you can enter your pool of option, worker and so on. Or is that part of the knc website intended for customers that chose knc hosting for the miners? Also, is there a problem if 2 or more miners would mine under the same "worker"?

1CmrswU7JYpi9WNC8EHWCV3aam1FJsW2Zu - to show appreciation for my work
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September 05, 2013, 07:35:58 PM
 #8533

I agree that knc is most likely legit, but why do they need to perpetuate this insanely risky(for the buyer) pre-order model at this point? AM and the secondary market have demonstrated beyond any reasonable doubt that in hand hardware for immediate delivery commands a significant premium over hardware paid for now and delivered in x months down the road. Knc plainly has the funding to become the second major player to only sell what they actually have, but they're passing on the opportunity to change the scenery and likely leaving money on the table doing so. Instead bitfury will likely wear this crown and it will erode knc's future sales.

Until they've failed to deliver the first-gen stuff, they aren't perpetuating any preorder model. What opportunity are they passing up? The first-gen stuff is limited number like the other manufacturers. Second-gen orders are being taken (like other manufacturers), so that the pipes stay fed for constant output.

Little lost on where you went with that.

I don't believe they will fail to deliver first gen stuff(which is actually 2nd gen stuff for the ASIC BTC mining community), but they've offered pre-orders for the very same gear at lower prices for November delivery when they could easily have simply said "no more pre-orders", "no more zero interest loans", "no more offloading 100% of the risk to investors/customers" and instead offered hardware for immediate delivery at premium prices in November and beyond. I understand the appeal of the pre-order model when a vendor is green as they don't likely have the VC funding to cover NRE costs, but knc is essentially playing with house money now and has had a chance to differentiate themselves...they passed.

By generation, I meant their equipment.

As far as I'm concerned, it's still not so much a preorder for 2nd gen stuff. And here's why. They took money in at X cost for a certain number of 1G units, to begin shipping in September, delivered NLT end of October. This money goes to standing up the system, R&D, and getting everything out the door. It doesn't necessarily (and likely couldn't) cover any costs to ensure you have what you need on hand for bundles of future orders.

In order to make sure you can deliver 2G and following generation orders seamlessley--from the drop point of the first batch--you need to order the ingredients. To make sure systems are assembled and ready for delivery (underpromise/overdeliver) you want to get this stuff in asap and get as much of it preassembled as possible. You need money to do this.

Ordering 2G stuff now can get that 30-90 day lead time required. It's essentially similar to what you're describing. Until they, or any OEM, has come to the point where they have plenty of house cash on hand to use, they won't be getting a ton of stuff ordered ahead of time, especially with how technology is changing constantly in this field, and how fast orders are going.

Not to mention, once word gets out they kept their promise, their order queue will burst--I'd say 100x as many orders as before. They don't want to BFL their way through the situation, getting behind on assembly, backordering parts, delays, etc. You need some lead time. Ideally, I'd say a 30 day order-to-delivery window is likely once things get under wrap.

There's no way, short of hella amounts of spare cash, they'll be an order-to-delivery in 1 week company. None of these manufacturers will without significant investment.

...which, I predict, will occur when a large company starts buying their way into this market, by buying out one or more of these small manufacturers. Keep in mind that AMD has been rumored to be working on their own ASIC lineup. Imagine if a company that size stepped into place..,. being able to promise delivery in a week.

Their order queue would blow the barn doors to the next planet.

I'm sure that it has been discussed before, but I really don't want to go through 400+ pages to find my answer. My question is about the pre-installed cgminer, more exactly, will it also have the "chosen" pool details already on it? Asking cause I've noticed those fields on the knc website where you can enter your pool of option, worker and so on. Or is that part of the knc website intended for customers that chose knc hosting for the miners? Also, is there a problem if 2 or more miners would mine under the same "worker"?

You fill in your worker details under your KNC miner account page. It's suggested you don't use the same account for multiple miners.

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September 05, 2013, 07:37:53 PM
 #8534

I don't believe they will fail to deliver first gen stuff(which is actually 2nd gen stuff for the ASIC BTC mining community), but they've offered pre-orders for the very same gear at lower prices for November delivery when they could easily have simply said "no more pre-orders", "no more zero interest loans", "no more offloading 100% of the risk to investors/customers" and instead offered hardware for immediate delivery at premium prices in November and beyond. I understand the appeal of the pre-order model when a vendor is green as they don't likely have the VC funding to cover NRE costs, but knc is essentially playing with house money now and has had a chance to differentiate themselves...they passed.

Unlike the past orders, you can wait for November 1st and order with KNC at the new prices which they will deliver on around November 15th.  I don't feel this is a pre-order situation since I don't believe they will run out of stock.  The reason they posted the prices now and the dates is to allow people to plan for the future if they wish to buy an ASIC.   If they didn't release this information, consumers may need to look at Cointerra, HashFast, BF, or another company.  

If you don't like pre-orders, just wait and buy one when they are available.  KNC didn't say you need to pay now or you may miss out on the units scheduled for November.

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September 05, 2013, 07:40:13 PM
 #8535

As far as the pre-order model goes they will likely continue this for gen2. I asked them if they would get to a point that we could order stock off the shelf and they said no. They said that the lead time between the pre-order and production would be much shorter.
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September 05, 2013, 07:46:14 PM
 #8536

I'm sure that it has been discussed before, but I really don't want to go through 400+ pages to find my answer. My question is about the pre-installed cgminer, more exactly, will it also have the "chosen" pool details already on it? Asking cause I've noticed those fields on the knc website where you can enter your pool of option, worker and so on. Or is that part of the knc website intended for customers that chose knc hosting for the miners? Also, is there a problem if 2 or more miners would mine under the same "worker"?
For all customers, they will do a test-run before shipping and use these settings so u get the coins.
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September 05, 2013, 07:48:18 PM
 #8537

I don't believe they will fail to deliver first gen stuff(which is actually 2nd gen stuff for the ASIC BTC mining community), but they've offered pre-orders for the very same gear at lower prices for November delivery when they could easily have simply said "no more pre-orders", "no more zero interest loans", "no more offloading 100% of the risk to investors/customers" and instead offered hardware for immediate delivery at premium prices in November and beyond. I understand the appeal of the pre-order model when a vendor is green as they don't likely have the VC funding to cover NRE costs, but knc is essentially playing with house money now and has had a chance to differentiate themselves...they passed.

Unlike the past orders, you can wait for November 1st and order with KNC at the new prices which they will deliver on around November 15th.  I don't feel this is a pre-order situation since I don't believe they will run out of stock.  The reason they posted the prices now and the dates is to allow people to plan for the future if they wish to buy an ASIC.   If they didn't release this information, consumers may need to look at Cointerra, HashFast, BF, or another company.  

If you don't like pre-orders, just wait and buy one when they are available.  KNC didn't say you need to pay now or you may miss out on the units scheduled for November.

I don't like pre-orders, particularly pre-orders from companies that have yet to deliver products. I don't have a specific problem with knc, I'm actually considering them for future business, I have a problem with the pre-order model which has brutally punished investors in the past. Even those that paid knc in BTC months ago are very unlikely to recover their investment in BTC. It's a horrible model from the perspective of an investor and the market can and will do better, but apparently knc will not be among the companies leading the way in this regard.

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September 05, 2013, 07:53:28 PM
 #8538

I hear ya, but.
It's like a IPO, more risk, more rewards. If a company can play it like that then it has it's place in the high risk column.
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September 05, 2013, 07:56:09 PM
 #8539

I hear ya, but.
It's like a IPO, more risk, more rewards. If a company can play it like that then it has it's place in the high risk column.

Actually its more risk and minimal to no rewards based on difficulty adjustments lately.  Pretty much not worth it.

Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
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September 05, 2013, 08:01:59 PM
 #8540

I don't believe they will fail to deliver first gen stuff

Oh, really? It's already September and nobody has still seen a single hashihg chip.

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