300 pages and I have only one question. Is there a single working KNC miner in existence?
FPGA - yes.
ASIC - no.
you dont know if they have a working ASIC.
You are joking or simply retarded? They have no working ASIC miner, which is the answer to seljo. If they did, they'd show it. I think even Bitcoinorama will agree on this.
Completely. They never said they would deliver in the beginning of September, just September.
I didn't want to get sucked into Hashfast's words. I'm happy to see competition, it can only be good for us, but I think they underestimate ORSoC based on those crude assumed figures. The only thing Sam would commit to, and if anyone who was also there could back me up on this it would be useful, as I pressed and pressed for concrete info, was; 28nm, at least 250gh/s in Juliter (Saturn and Mercury weren't an option then), less than 1000w, and Jupiter. Aside from this they have kept their hand close to their chest with good reason.
I want to say I have no personal grievance directed towards Hashfast, as any negativity assumes unequivocal allegiance as a fan-boy, or if I bring up consumer protection and ccards, I'm declared a rogue agent provoceteur for Visa or Mcard, but simply my thoughts are this;
There is no movement and no attempt to offer any liability to any kind of third party willing to act as a guarantor in case of dispute to their claims and promises made. This option IS available to ALL western companies (100% in the US) as long as you satisfy their requirements. Crikey Butterfly Labs have for long enough. Terrahash have, Cointerra claim they will, and obviously KnC have. The real issue here is accountability and the responsibility of standing by your word. Hashfast aren't.
The tale of wanting to help the Bitcoin economy grow by increasing liquidity in the marginal amounts they exchange for dollars in comparison to the entire economy, is just that, a tale. This makes no impact, worse it takes the funds from the Bitcoin economy, reason being all their suppliers are paid in dollars. If they convinced all their suppliers to accept Bitcoin, that would be impressive, but they haven't.
Fact is HF are determined not to be held accountable for their originally promises October delivery. They have reworded their sales page to 'anticipated delivery'. They have reworded their refund offer only to be within a finite two weeks in January, long after funds will have been spent, and without a third party issuing bank to secure customer funds, a refund will be impossible. This makes me wonder how they intend to secure fabrication in 6 weeks? They cannot secure fabrication without funds in place, which they are still attempting to raise unsecured. They will require a rocket run, or a hot lot, and as far as I'm aware TSMC has no space left a ail able in that time. If they know this, and are basing their entire strategy around this, then they already know October is out of the question, as may well be November, hence no refund until January, when they will be low on funds.
Their ROI protection thing, means they will throw a chip your way, but you will be responsible for getting it assembled and online as they will be busy completing their backlog of orders. So you will get a chip, and have to send it off to be assembled with a third party, that will be in another queue and sent to you when ready. Time being of the essence and this being of additional cost to you, once you finally receive the additional product, the lions share of profit will have been made. In fact the biggest reward for all concerned will be mined between now and Christmas.
Then there is the warranty which is dismissed due to customers wishing to overclock. All chips from all manufacturers will be played with at somepoint. There is a well known variation of warranty used by vendors thought the globe with the majority of products made, it's called a 'manufacturers warranty', and within it manufacturers stipulate tolerances by which their product has acceptable warranty. You invalidate that, then it becomes your responsibility. To dismiss this as if their product is to be the only chip to be clocked is laughable. Butterfly Labs Jalepenos are running happily now at 8gh/s.
To me this looks like a gamble to raise funds ahead of Cointerra and X-Crowd without third party consumer protection mitigating liability so they can gamble customers funds on having a product ready by Christmas. They already know now if they can fabricate a chip by October, and the behaviour in ensuring they cannot be held accountable for that suggests otherwise. Their alterations of terms and conditions after purchases have been made also suggests this maybe the case, which would be deceitful, if true. But by which point you will have committed yourself and be unable to recoup the funds spent. For sure there is no 100% refund, there is no way, they will have spent funds and have no one backing up the consumer. The safest play for us miners would be for ether to accept Paypal., because in 45 days by now, it would be October and you would know for sure if they could fabricate the chips, by when and when realisitcally to accept delivery. If by that point it looks untenable, you could simply ask Paypal for a refund and walk away. They don't want you to have this option available, they want to lock you in till Jan for a reason.
I was really looking forward to Cointerra's offering, I can only hope that's not been their last word on the subject as currently it's far from compelling for Dec/Jan delivery. That and despite promising Paypal, they prices at above $10k, Paypal's cut-off which indicated they never realistically looked into Paypal's requirements for sale.
In reality KnC should clear a chunk if not all ROI before Hashfast have a product. It doesn't not matter if they have a more efficient chip powerwise, if they are later than the end of October, by which point KnC should have cleared their backlog and potentially could sell in stock, competing on price as their NRE will have been recovered, offering a better deal to all. Will have to see...
