Swedish ASIC miner company kncminer.com

[FUKT]

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!

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.

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[CMMPro]

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]

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]

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

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.

[Anenome5]

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.

[crumbs]

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

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]

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

[amencon]

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.

[crumbs]

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]

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! 

[crumbs]

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! 

More funny than what, faggot?

[ASIC-K]

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

[demonmaestro]

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

+1

[RoadStress]

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

I think eve has first place.

[dropt]

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.

Where did you find this analogy?  A crackerjack box?

[bbxx]

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

+1

I am collecting ignores too.
Please say you are troll and ignore me.

More refund will be i will get more btc so please get you refund and cut off your dream of being rich...

[xstr8guy]

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.

[vesperwillow]

^- Total win lol

[kendog77]

Where are the chips? Has Knc demonstrated them yet?

It doesn't take a rocket scientist to realize that they can't ship a couple hundred orders in a day, so if folks with September orders don't start getting tracking numbers next week I'd say it's a pretty safe bet that Knc won't deliver on time.

I had high hopes that Knc wouldn't not over promise and under deliver, but if they don't ship all September orders in September they really aren't much different than all the other ASIC hardware manufacturers, which is kind of sad.

[demonmaestro]

Depending on their manufacturing process. It maybe all automated. That has been noted.