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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3012817 times)
KS
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May 07, 2013, 02:45:53 PM
 #941

Damn, I just lost the Google Lottery.

Oh well, there's always next week's. (but seriously, 1500$ min is a bit steep o_O)

j/k

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
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May 07, 2013, 03:38:43 PM
 #942

Damn I just paid $1000 to get my Google lottery delivered.

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May 07, 2013, 06:33:39 PM
 #943

So what you are saying is that a US based entity can order from this Swedish company and not pay VAT?  From what I understand it sounds like VAT is built into the price ... and getting a VAT refund sounds like a real pain...

And as far as I am aware there is no import duty in the USA for computers.   http://www.dutycalculator.com/popular-import-items/import-duty-and-taxes-for-laptop-computer/ (pick "server" from the drop down)

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May 07, 2013, 06:34:36 PM
 #944

sounds like you guys should be shipping from in a non-EU country....

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FlappySocks
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May 07, 2013, 06:49:31 PM
 #945

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU
Bitcoinorama
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May 07, 2013, 06:57:52 PM
 #946

Failing that, take a trip to Stockholm and claim back the VAT at the airport. Wink

If you're a single guy you want to do this. I speak from experience.

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KS
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May 07, 2013, 07:00:16 PM
 #947

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU


and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot) Sad

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
Malawi
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May 07, 2013, 07:10:39 PM
 #948

So what you are saying is that a US based entity can order from this Swedish company and not pay VAT?  From what I understand it sounds like VAT is built into the price ... and getting a VAT refund sounds like a real pain...

And as far as I am aware there is no import duty in the USA for computers.   http://www.dutycalculator.com/popular-import-items/import-duty-and-taxes-for-laptop-computer/ (pick "server" from the drop down)

It's quite simple.

If a Swedish company sells a product from sweden and the buyer is in EU, they charge VAT(In EU you pay the VAT in the country you order from, so a german customer does not have to think about the VAT/customs).
-As long as a certain percentage of their sales includes VAT, the Swedish company can deduct any VAT they pay to other firm towards their VAT bill to the taxman.

If the product is is headed for a country outside the EU, the VAT is simply not levied, and it's the receiver's responsibility to pay VAT/sales tax etc. Normally after some red-tape.

Pretty sure the VAT in Sweden is 25% - remember that when you detract it from a price with VAT included, you deduct 20% Wink (A little brain teaser if you are not familiar with how VAT works)

BTW: Sales tax is a bit like VAT, but have to be paid by every entity in the supply chain, thus it is a lot lower, but it quickly adds up. Sales tax is levied from -raw materials-sub contractors-producer-central distributer-local distributer-retailer(every time an item changes owner). VAT is only paid by end user as all the others get VAT returns.


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May 07, 2013, 07:15:01 PM
 #949

Basically, be a business, guys.

For example: If I, as a german company, send you an invoice, i can officially write "not taxable due to regulation §XYZ" if you are a company.

VAT exemption for many countries does only work, as long as they are not private people. That means as a business, I am only allowed to not charge VAT if I am dealing with another company that handles their taxes as reverse charge, meaning the buyer does have to pay the taxes in HIS country.
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May 07, 2013, 07:15:13 PM
 #950

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU


and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot) Sad

It's really not that hard. If a parcel leaves the EU, there is no VAT. If a customer is from outside EU, they just need to confirm that they are taking the unused product out of EU at the border.

BTW: I am from Norway, and due to tax-regulations I can buy stuff in the EU for up to about $1000, claim VAT refund and not pay VAT in Norway (Only works when I travel, not for parcels).

BitCoin is NOT a pyramid - it's a pagoda.
FlappySocks
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May 07, 2013, 07:28:26 PM
 #951


If a Swedish company sells a product from sweden and the buyer is in EU, they charge VAT(In EU you pay the VAT in the country you order from, so a german customer does not have to think about the VAT/customs).

If you are VAT registered in the EU but outside Sweden, then you can ask to have the VAT removed.
chaxattack
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May 08, 2013, 05:45:08 AM
 #952

Was the 'Order Tracking' module on the homepage there this whole time or is that new?
dhenson
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May 08, 2013, 05:53:17 AM
 #953

I think it's always been there... not 100% though.
KS
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May 08, 2013, 08:38:04 AM
 #954

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU


and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot) Sad

It's really not that hard. If a parcel leaves the EU, there is no VAT. If a customer is from outside EU, they just need to confirm that they are taking the unused product out of EU at the border.

BTW: I am from Norway, and due to tax-regulations I can buy stuff in the EU for up to about $1000, claim VAT refund and not pay VAT in Norway (Only works when I travel, not for parcels).

Of course it's not hard, but there are ignorant/lazy/dishonest ppl out there that simply add the VAT and make you pay (even if they are not VAT registered themselves), no matter what. Happened to me more than once, when I really need the product ASAP, I just factor in the VAT in the cost and buy or not depending on who's cheaper. Usually I don't go back to these "suppliers" and try to find official sources but the EU is a pain to source products in if you want to buy sth that's not in the localization of the country you're in (bloody distribution agreements - free circulation of goods and services is a joke).

 Most PITA countries for me are Italy and now Germany (Germany used to be great!). Sometimes I just buy straight from Amazon who happens to be cheaper than my local distributors/wholesalers and I don't have to worry about the VAT issue.

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
dan99
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May 08, 2013, 09:48:09 AM
 #955

Kncminer is already late in  producing the miner, they will blame on the VAT and other excuses .. and will
asked everyone to have the miner hosted in their office or store and they will charge an arm and a leg for all the fees and utility. Look like it is coming this way, are you sure Sweden has the cheapest electricity rate in the world? Sweden: 0.20092Euro per kWH while other countries is 0.05 to 0.07USD per kWH.
KS
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May 08, 2013, 10:36:54 AM
 #956

Kncminer is already late in  producing the miner, they will blame on the VAT and other excuses .. and will
asked everyone to have the miner hosted in their office or store and they will charge an arm and a leg for all the fees and utility. Look like it is coming this way, are you sure Sweden has the cheapest electricity rate in the world? Sweden: 0.20092Euro per kWH while other countries is 0.05 to 0.07USD per kWH.

wot wot? I pay 0.085 EUR/KWh in a Tier III datacenter. Why would I want to pay 2.5x in Sweden? Ship it to Dallas or sth and get unmetered power, or Seattle and pay 0.02 USD... (oh, and no VAT in the US Smiley )

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
Bitcoinorama
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May 08, 2013, 11:19:43 AM
 #957

Ok, stop this;

1. You're making assumptions about whether VAT costs and electricity costs will be an issue based on no evidence, when VAT exemption for sellers outside the EU is the law. it's why Europe attracts so many tourists from outside the EU on shopping holidays, ref: every Spring, Summer, Autumn and Winter sale in London's West End full of US and Asian women going nuts with their plastic. I spoke to Sam about 'electricity waster and storage', they have a novel solution which I will let them reveal, but not sure what that price point will be so not worth discussing as it's unfounded.

2. Both the order tracking feature and importantly the VOTE for the LITECOIN miner function are new.

Definitively vote for the Litecoin miner, as the 6 gh/s FPGA 'Mars' makes a lot more sense profitably in the long term as an FPGA with DDR specifically for Litecoin mining and justifies the price tag.

Remember aside from more power, there will also be less competition for the foreseeable future from other competiting miners in the Litecoin arena, it spreads the risk between two cryptocurrencies with their ASIC being for Bitcoin, and very, very importantly; last week Mt Gox confirmed in a press release concerningn their recent DDOS attacks that they are just about to except Litecoin on their exchange = increased liquidity.

  • When will you be adding Litecoin (LTC) to Mt. Gox?

    Soon. We were planning on doing so two weeks ago, but events derailed that plan. Right now we are focused on overall stability of the exchange, and will launch LTC when we are ready. Otherwise we could be further complicating things.


No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
Brandt
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May 08, 2013, 11:50:18 AM
 #958



No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast. Cheesy
Bitcoinorama
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May 08, 2013, 11:52:03 AM
 #959



No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast. Cheesy

Vote then!! Gotta be in it, to win it!!! Wink

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
KS
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May 08, 2013, 01:35:56 PM
 #960



No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast. Cheesy

Vote then!! Gotta be in it, to win it!!! Wink

U sure you're not in on this? I find your interest in the topic veeery suspicous! Mr Cole from KnC(ole)miner! Grin

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
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