Swedish ASIC miner company kncminer.com

[sbfree]

Quoting SebastianJu:

It's FUD. It was released on a Sunday night with a shill twitter account and a two day old site with a dodgy landing page.

Some journalists have been contacted direct and some have run with what they saw. None did any background as it was late in a Sunday night and they couldn't confirm, but the snowball produced by the hoaxer had gathered enough momentum by that point.

Surprised by the WSJ though. Andrew Laurus does not exist and for the record w.r.t the first article, Kim Dotcom doesn't follow him on the pseudo Twitter account, he follows Kim Dotcom on a shill twitter account that resembles a 15-year olds outbursts...

https://www.twitter.com/frankieterrier

Last time someone woke 'Yifu in the middle of the night' because of FUD he came on this forum to put the record straight. Someone with wayy too much time on their hands is clearly trying to elicit some/any response from Yifu so he steps out into the open at a time he's ignoring a lot of requests to do so...

You're not quoting Sebastian Ju, you're quoting me from Sebastian Ju's thread...

Bitcoinorama, here is the author of this FUD....https://twitter.com/MJFerrSantos

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[Bitcoinorama]

Bitcoinorama, here is the author of this FUD....https://twitter.com/MJFerrSantos

Be interesting to know, who is behind 'leaking' it to her, as they have been instrumental in creating a fake site, twitter account and getting the FUD spread far and wide...

That said, it goes to show how poor journalism become these days!

[Cablez]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

[Gyrsur]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

is Sonny V not the old man which is sitting in the dust at that one picture from BFL. he has a plate with a Bitcoin address ( and "Will work for Bitcoin") in his hands. and a wire fence is behind him.

can't find this picture. it is somewhere on this forum.

[timmmers]

This private equity type deal was bound to come sooner or later. I have money invested in several funds as part of a pension fund, some low risk, others high...trees for example. A 15% return over a year is a result for them. If they see bitcoins as something that they can get into now which will increase in value over 5 years (As I bet most of us think), they'll see it as a high risk high reward investment. 200 mill isn't a lot of money for these people, they aren't sitting in a bedroom hoping for ROI and worrying about power bills, they must see a massive return over a long time compared to other places they invest. For example, if they plant a tree to harvest the wood...that money is tied up until the tree is worth harvesting years down the road for lumber, unlike bitcoins which given the right hardware break even in a few months. Once they have their BTC they sit on them and happily wait for a price rise. There are other options with the mining gear once BTC become uneconomical to mine. If you think BTC may one day hit 1000 dollars..uneconomical now may be acceptable investment for the future returns.

Personally I think that there's a short window now where we can mine using our own gear, then it will become unaffordable and we'll be buying  shares in companies that can do it to scale...some of whom may be companies like these.

I saw a rig linked from an ad on here last week, could be upgraded to cost half a million and some loony hashrate...just for a minute assuming it's a real rig that will exist and be able to pay for itself like a KnC rig hopefully will...why would a company who can afford 10 or those not buy them? What other traditional investment can do that? It must have some speculators in high risk markets licking their lips compared to the long term stuff they usually deal in...and IF they see the value of a bitcoin hitting 4 figures in years to come like many people do...well we're going to see them arriving in droves.

IF that's the case, we're not going to see a dribble of rins with higher and higher hashpower..we're going to see hundreds of farms of these rigs arriving as soon as they are available pushing the network hashrate sky high. The manufacturers, they'll love it, no whiny forums to keep an eye on, no delivery, no currency issues, just one large customer you need to deal with. A customer who may not care about ROI short term because they are looking for a very long term return based on a huge rise in coin prices.

Timmers the article is BS, or certainly surrounding evidence appears that way. Journalists are not immune to lazy journalism, especially in the age of the internet where upon the first to report get's the first share, which get's snowballed by sharing more increasing their reputation and 'delivering the news (FUD)'.

The other 'rig' you saw linked was Gridfinity, a supposed distributor for Hashfast, who came out on record stating his efforts of fundraising in $500k+ denominations had nothing to do with them (after confirming they were known to eachother previously). Shady marketing, sure, but not a huge success as people saw through it.

Not to say interest isn't gathering momentum, but the best thing for us miners is the ability to distribute the network far and wide, with competing companies offering worthwhile and genuine product offerings based on fair pricing, which is the way it appears to now be heading, finally...

Yeah I realise it's not fact. Sadly for us though it's just a matter of time before some of these types of companies see the possible returns and change the game. Where there's money to be made so obviously they always eventually find it.

What's best for BTC or us doesn't matter when money is to be made. They have the funds to do what they want in their relentless quest for profit.
Most people mining now won't be able to compete when rigs become expensive, so the whole game will change in favour of those who can afford to be industrial, just like all other industries.

Right now people aren't hosting their own rigs, prefering to have them hosted and pay for that. For sensible economic reasons. Next step, don't own a rig at all, buy a share in a farming facility..then logically not even that, buy a share in a mining company which is a short step from that. All you're going to get from owning a rig is hassle which you don't need if your eye is on the bottom line. Those with capital to invest will be all over that like a pair of rubber Y fronts...it's what they exist to do.

Some folk will stick to what they see as the right way on principle...most will follow their wallets and do what they can afford or what gives the best return.

The next year or maybe two is crucial IMO. Which is why to me this KnC batch and possibly the next gen is so important.
I liked the way they talked about aiming for long term ROI for their customers, I just hope they can do it.
So far I'm happy with what I've heard. A great deal of that thanks to your effort visiting them...so we owe you thanks for that.

[kano]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

Yes I've said it twice already

One in this thread:
https://bitcointalk.org/index.php?topic=170332.msg2850139#msg2850139

And:
https://bitcointalk.org/index.php?topic=150803.msg2850184#msg2850184

[yottahash]

Avalon Shmavalon.

Back onto KNCminer's order numbers... they have "Day 1" and "Day 2" as some kind of shipping batch identification. 
I figured they could ship a few hundred 4RU machines a day, if that...

So this guy is just now auctioning a "Day 1" order with order number #1824: https://bitcointalk.org/index.php?topic=268149.0

So which of the following applies??

• Day 1 doesn't actually mean the first day of shipping.
• There are a lot of unpaid orders up to order number 1824.
• Somehow KNCminer will be shipping almost 2000 x 4RU units in a single day.... 

[canth]

Avalon Shmavalon.

Back onto KNCminer's order numbers... they have "Day 1" and "Day 2" as some kind of shipping batch identification. 
I figured they could ship a few hundred 4RU machines a day, if that...

So this guy is just now auctioning a "Day 1" order with order number #1824: https://bitcointalk.org/index.php?topic=268149.0

So which of the following applies??

• Day 1 doesn't actually mean the first day of shipping.
• There are a lot of unpaid orders up to order number 1824.
• Somehow KNCminer will be shipping almost 2000 x 4RU units in a single day.... 

He could have order number 1824 but have paid for a pre-order to move him up to Day 1, without ultimately changing his order number. I wouldn't necessarily read a lot into Day 1 order numbers.

As far as speculating on how many units KnC can ship in a day, I think that's all it is - speculation. Obviously there is a limit to how many units they can assemble, test, box and ship in 1 day - not sure how we'd really take a guess at that.

[Xian01]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

 Or is it Sonny K

[Gyrsur]

could it be Satoshi? starts also with 's'. 

[kano]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

 Or is it Sonny K

V

[Xian01]

Could that be Andrew Laurus (aka The Devil) with Sam (knc), Josh(bfl) and Yifu in that picture floating around?

You guys don't recognize Sonny V.? Ask kano.

Or is it Sonny K

V

 The search continues...

[Xian01]

It's Sonny V... from BFL.

Overall, I appreciate the public's reason for concern and I will return and provide answers.

Never did return to provide answers 

[server]

Never did return to provide answers 

Answers bring up new questions

[CYPER]

Avalon Shmavalon.

Back onto KNCminer's order numbers... they have "Day 1" and "Day 2" as some kind of shipping batch identification.  
I figured they could ship a few hundred 4RU machines a day, if that...

So this guy is just now auctioning a "Day 1" order with order number #1824: https://bitcointalk.org/index.php?topic=268149.0

So which of the following applies??

• Day 1 doesn't actually mean the first day of shipping.
• There are a lot of unpaid orders up to order number 1824.
• Somehow KNCminer will be shipping almost 2000 x 4RU units in a single day....  

There are a lot of unpaid orders generally. When you submit an order you are allocated an order number and even if you don't pay it still stays in their system.
A friend of mine just placed one - Order ID: 52xx

More important is how many of these 5200 orders are paid for and real - this information would be very valuable in establishing the expected (very rough) estimate of the future hash rate, thus easier to calculate possibility of positive ROI.
Because right now I don't really care how much net profit I can make as long as it is positive.

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.

[Bitcoinorama]

https://mobile.twitter.com/ScottWapnerCNBC/statuses/364370798892421120

[Loredo]

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.

It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

[Bitcoinorama]

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.

It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy.

We are supporting a bold new economy as hobbyists protecting the network and sharing confirmations of transactions taking place. Our investments will be realised at greater magnitude when we as a community start innovating means for this exciting new payment method to be utilised by a greater volume of people than it currently is, increasing BTC's liquidity and fuelling it's growth in value...

[Loredo]

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.

It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy...

Yep.  Individuals involved because of interest in the concept.  

And yes, there will be businesses with the huge farms, like ASICminer (who I think of, and refer to, as Bitcoin Edison.  You're a Brit, so may not know that, e.g., New York's monopolistic electricity company is Consolidated Edison; Chicago's is Commonwealth Edison, etc.)

[WastedLTC]

For those who are interested in the KNC mining pool.  The current answer is NMC merge mining will not be available at launch.  This may change in the future but at launch, those of you who are hosting with KNC and plan to use the KNC pool (or using the KNC pool via Byteminr) will not be earning Namecoins.  This is essentially leaving 3-4% return on the table.