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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3012581 times)
FUKT
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September 15, 2013, 09:11:21 PM
 #9421

Does anyone know what type of shipping service KNC are using? I know its UPS, but some services can take 1-3 weeks to arrive.
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amencon
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September 15, 2013, 09:12:47 PM
 #9422

Yeah I don't prescribe to this "you could have bought the equivalent of xx btc" bullcrap either.

When I bought mine I paid with a credit card to give myself the guaranty they would deliver or I would get my money back. (Plus about 6k airmiles.)
I doubt I would have went out of my way and dropped $4100 into more bitcoins at that time but buying an exciting new mining product was a no brainer for me.

So, it isn't the same as saying you could have bought and held and made more money...not at all.

This is where simple economics fails us. Satisfaction per economic unit is higher buying a mining device than it is simply buying more bitcoins.

In some peoples case it is also easier to buy a mining device than to buy bitcoins...something else to think about.
The protection of returning your money by chargeback is irrelevant here because had you bought BTC directly you could have traded back to USD even more easily.

Are the airline miles really valuable enough to determine whether the purchase of the miner was worth it or not?

Since we are talking about hypothetical investment strategies your personal psychological factors that would stop you from investing in X BTC but spur you to buy a mining machine that makes X BTC seems besides the point in determining the logical best course of action.

Might have a point with difficulty to obtain BTC.  I'd think this wouldn't be applicable to a significant portion of the bitcoin enthusiast population, however that is pure speculation on my part.
Bitcoinorama
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September 15, 2013, 09:13:03 PM
 #9423

Does anyone know what type of shipping service KNC are using? I know its UPS, but some services can take 1-3 weeks to arrive.

Lol I doubt it's ground! Grin

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
arbitrage001
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September 15, 2013, 09:16:18 PM
 #9424

ROI doesn't look so good for October delivery.

Anyone else consider asking for refund?
ASIC-K
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September 15, 2013, 09:17:08 PM
 #9425

ROI doesn't look so good for October delivery.

Anyone else consider asking for refund?

mofo, have you read a word posted above?!?
RChevalier
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September 15, 2013, 09:17:53 PM
 #9426

No don't listen to RChevalier go and ask for a refund... It will just let me get my miner sooner.  Grin

Actually on second thought...

Yes do listen to demonmaestro.
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September 15, 2013, 09:18:40 PM
 #9427

The reason Cointerra are dropping their price like a stone is they have yet to raise enough capital to fund NRE and they are expected to tape out imminently. You have to pay for your NRE upfront to receive your tape out results.

Nonsense. Their first preorder batch netted them some $14M:
http://thegenesisblock.com/cointerra-and-hashfast-sell-17m-of-bitcoin-miners-open-second-batch-sales/

28nm mask sets dont grow on trees, but thats enough to fund at least half a dozen 28nm bitcoin miner designs and masksets.

FUKT
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September 15, 2013, 09:23:56 PM
 #9428

Does anyone know what type of shipping service KNC are using? I know its UPS, but some services can take 1-3 weeks to arrive.

Lol I doubt it's ground! Grin

LOL, Sweden to Australia via UPS has the fastest ship rate of 5 days on the calculator. Usually that is never the case, so might be up to 10 days or more. So for me to get my miners during September they need to ship them in about 4 days for me to be happy.
CMMPro
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September 15, 2013, 09:33:13 PM
 #9429

Yeah I don't prescribe to this "you could have bought the equivalent of xx btc" bullcrap either.

When I bought mine I paid with a credit card to give myself the guaranty they would deliver or I would get my money back. (Plus about 6k airmiles.)
I doubt I would have went out of my way and dropped $4100 into more bitcoins at that time but buying an exciting new mining product was a no brainer for me.

So, it isn't the same as saying you could have bought and held and made more money...not at all.

This is where simple economics fails us. Satisfaction per economic unit is higher buying a mining device than it is simply buying more bitcoins.

In some peoples case it is also easier to buy a mining device than to buy bitcoins...something else to think about.
The protection of returning your money by chargeback is irrelevant here because had you bought BTC directly you could have traded back to USD even more easily.

Are the airline miles really valuable enough to determine whether the purchase of the miner was worth it or not?

Since we are talking about hypothetical investment strategies your personal psychological factors that would stop you from investing in X BTC but spur you to buy a mining machine that makes X BTC seems besides the point in determining the logical best course of action.

Might have a point with difficulty to obtain BTC.  I'd think this wouldn't be applicable to a significant portion of the bitcoin enthusiast population, however that is pure speculation on my part.

6k airmiles is about 5% back on the purchase of the miner...so shipping is more than free in this case.
My credit card also covers my purchases for theft, unexpected damage...and doubles the manufacturers warranty.

My psychological factors wouldn't stop me from buying more btc, but the convenience of buying a mining rig in a few clicks of my mouse and knowing I am covered with no risk at all vs the convoluted process of buying btc makes it much easier.

Also, people keep harping on this but the fucking bottom line is that you CANNOT BUY A KNC MINER USING BTC...so it isn't a valid comparison.
You want a miner, you pay with USD. You want to buy more bitcoins, you pay with USD.


In my case, I wanted to buy a miner. I want many more bitcoins, but I want a miner even more.
I would get a lot more enjoyment for my money buying a miner at this point than I would to own a measly 40 more bitcoins.

That's what simple economics is all about, how much personal satisfaction are you able to obtain from an economic unit.
You can't make an economic judgement call, the satisfaction a person receives from spending their money is a psychological factor that has to be considered.

It's like telling your kid that can spent $300 on a new bicycle that they could have done better buying a savings bond.
Which do you think the buyer derives more satisfaction from?
You don't know, because you aren't the buyer.






superfluouso
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September 15, 2013, 09:34:45 PM
 #9430

ROI doesn't look so good for October delivery.

Anyone else consider asking for refund?

I just sent an email asking for a refund on my mercury - for the record, I would have been better off buying over 25 BTC at the time (will only buy me about 17 BTC at today's prices).  I'll update on how long the process takes or if there are any issues.  I'm guessing the number of refund requests they receive may go up over the next week or so.  I am a little bummed that I'll be forgoing the mining experience with KnC's asics.
Anenome5
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September 15, 2013, 09:38:07 PM
 #9431


It's hard to agree with your logic when you yourself, faced with a decision to pull back your order, chose not to.  Because you think that *others* (who are more rational?) would Sad
You misunderstand me. I wouldn't because I could only get a November ship date. You cannot buy a first 500 Jupiter anymore, such as I have. If you could, I -would- buy.


Democracy is the original 51% attack.
Anenome5
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September 15, 2013, 09:54:19 PM
 #9432

ROI doesn't look so good for October delivery.

Anyone else consider asking for refund?

I just sent an email asking for a refund on my mercury - for the record, I would have been better off buying over 25 BTC at the time (will only buy me about 17 BTC at today's prices).  I'll update on how long the process takes or if there are any issues.  I'm guessing the number of refund requests they receive may go up over the next week or so.  I am a little bummed that I'll be forgoing the mining experience with KnC's asics.
Non-preorder? November Saturn? Yeah, numbers are a bit thin there.

Democracy is the original 51% attack.
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September 15, 2013, 09:58:39 PM
 #9433


It's hard to agree with your logic when you yourself, faced with a decision to pull back your order, chose not to.  Because you think that *others* (who are more rational?) would Sad
You misunderstand me. I wouldn't because I could only get a November ship date. You cannot buy a first 500 Jupiter anymore, such as I have. If you could, I -would- buy.

I'm not sure i understand -- how long ago have you ordered your miner, and when will it be delivered?  
If the answer is "A while ago, it still hasn't yet been built.  I paid KNC to engineer the chips which they otherwise wouldn't be able to do.  I did it because if I didn't do it, someone else would have, and I wouldn't be able to compete.  So now I might be able to compete, so that i could pay again for the next generation ASIC, that is if I make a profit.  Pretty shrewd, huh?"

Am i close?
Anenome5
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September 15, 2013, 09:59:59 PM
 #9434

So you're just trolling, gotcha. I did have you on ignore after all.

Democracy is the original 51% attack.
amencon
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September 15, 2013, 10:02:19 PM
 #9435

Yeah I don't prescribe to this "you could have bought the equivalent of xx btc" bullcrap either.

When I bought mine I paid with a credit card to give myself the guaranty they would deliver or I would get my money back. (Plus about 6k airmiles.)
I doubt I would have went out of my way and dropped $4100 into more bitcoins at that time but buying an exciting new mining product was a no brainer for me.

So, it isn't the same as saying you could have bought and held and made more money...not at all.

This is where simple economics fails us. Satisfaction per economic unit is higher buying a mining device than it is simply buying more bitcoins.

In some peoples case it is also easier to buy a mining device than to buy bitcoins...something else to think about.
The protection of returning your money by chargeback is irrelevant here because had you bought BTC directly you could have traded back to USD even more easily.

Are the airline miles really valuable enough to determine whether the purchase of the miner was worth it or not?

Since we are talking about hypothetical investment strategies your personal psychological factors that would stop you from investing in X BTC but spur you to buy a mining machine that makes X BTC seems besides the point in determining the logical best course of action.

Might have a point with difficulty to obtain BTC.  I'd think this wouldn't be applicable to a significant portion of the bitcoin enthusiast population, however that is pure speculation on my part.

6k airmiles is about 5% back on the purchase of the miner...so shipping is more than free in this case.
My credit card also covers my purchases for theft, unexpected damage...and doubles the manufacturers warranty.

My psychological factors wouldn't stop me from buying more btc, but the convenience of buying a mining rig in a few clicks of my mouse and knowing I am covered with no risk at all vs the convoluted process of buying btc makes it much easier.

Also, people keep harping on this but the fucking bottom line is that you CANNOT BUY A KNC MINER USING BTC...so it isn't a valid comparison.
You want a miner, you pay with USD. You want to buy more bitcoins, you pay with USD.


In my case, I wanted to buy a miner. I want many more bitcoins, but I want a miner even more.
I would get a lot more enjoyment for my money buying a miner at this point than I would to own a measly 40 more bitcoins.

That's what simple economics is all about, how much personal satisfaction are you able to obtain from an economic unit.
You can't make an economic judgement call, the satisfaction a person receives from spending their money is a psychological factor that has to be considered.

It's like telling your kid that can spent $300 on a new bicycle that they could have done better buying a savings bond.
Which do you think the buyer derives more satisfaction from?
You don't know, because you aren't the buyer.
Ok points taken.  I can see maybe it made sense for you in this certain circumstance considering that within reason the miner was worth more to you than greater profit, but then your case doesn't mean much when attempting to determine the best type and method for investment in general.

Your distinction of buying miners with USD or BTC seems rather pointless since whether you use USD or USD converted from BTC really doesn't change anything.  At the point of purchase you are expending roughly the same value either way.

Your kid with a bike analogy seems rather apt.  I thought we were judging the best way to invest our money, if asked I'd argue bonds are better than a kids bike all day.  I wouldn't argue that you should never buy a bike though, just that it isn't necessarily a sound investment strategy compared to other options.

I'm completely fine with anyone's decision to make any sub-optimal investment they choose.  I just think that ideally they would understand the choice they are making and there are extenuating circumstances that make the investment worth it to them, and not pass on that decision as how to invest where those same circumstances may not exist.
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September 15, 2013, 10:04:33 PM
 #9436

So you're just trolling, gotcha. I did have you on ignore after all.

If trolling means pointing out that you're paying people to shit up bitcoin as they bankrupt you, then yes.
demonmaestro
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Mining for the hell of it.


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September 15, 2013, 10:07:05 PM
 #9437

You know whats even more funny is the fact that people are bitching on how others spend money. Its not your money they are spending. So STFU... o and have a wonderful day!  Grin

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September 15, 2013, 10:11:16 PM
 #9438

You know whats even more funny is the fact that people are bitching on how others spend money. Its not your money they are spending. So STFU... o and have a wonderful day!  Grin

More funny than what, faggot? Cheesy
ASIC-K
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Hell?


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September 15, 2013, 10:19:17 PM
 #9439

lol crumbs ignore button in the brightest yellow i have seen on this forum.
demonmaestro
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Mining for the hell of it.


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September 15, 2013, 10:22:32 PM
 #9440

lol crumbs ignore button in the brightest yellow i have seen on this forum.


+1

A fun ShoutBox. http://shoutscloud.com | Feel Like Donating? 1E1tJhAHVLCyw58pN7jXSFMLMrK6cDhw8v
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