Swedish ASIC miner company kncminer.com

[Paladin69]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

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[The Avenger]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

That's a terribly pessimistic outlook.

When GPU's were no longer any use for mining bitcoin, gpu miners swopped over to litecoin.

When the lower end asic miner no longer mine enough BTC to make it worthwhile, they'll switch to an alt too. I assume people with jalapeno's are mining zetacoin or something like that, rather than huddling round it for heat.

I'd say it's fairly likely we'll see a SHA256 alt coin explode in 2014 for this reason.

[Cablez]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

^^^  This.  It would be very unwise to believe you will gain more BTC from a mining device than you spent on it during the ASIC transition.  Just remember 6-8PH by the end of December, that is 6-8X where we are now.  Pray for other companies to fold, just not yours to see some extra BTC.  

[itod]

If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

This is not necessarily so, though it is a good advice to buy BTC instead of miners. But, if KnC folds like TerraHash and not ship at all, than Bitfury will not be able to alone drive the difficulty at these levels, almost guaranteeing both HashFast and CoinTerra buyers positive ROI. You can bat many of their buyers are watching this new KnC situation with great interest.

[Biomech]

I was always so confident I would win my Bitbetting "yes"; now, considering the terms of the bet, Looks like I loose. Oh well.
http://bitbet.us/bet/472/kncminer-will-deliver-asic-devices-before-october-1st/
I just hope they don't forget us "September Delivery" Folks, and make up for it in some way.
Even if they shipped units right this moment, and shipping only took two days, yadda yadda.
And now the VAT issue is scaring me... Who is collecting the VAT, and WHEN? It could end up that our VATs are at the end of some list that takes a few days. I'm ready, and waiting for a call....  the list was sent in days ago and nothing has shipped, yet our promise of refunds up to the day of shipping has been yanked. I'm confused here, although I wasn't thinking of any refund, seemed a red flag, or at least bright yellow.

I will be thankful at least to see shipping begin, and appreciate still all the hard work they have done in bringing these to market under such harsh conditions, but a promise is a promise... So I look for the gang at KNC to make good on that promise.

I was under the impression you were in the US. No VAT here, despite the worst efforts of some politicians.

[Phoenix1969]

I'm sorry guys & gals, but this time Xallia & Crumbs are right.

When I ordered, It was for September DELIVERY, not September shipping.

Call it what you will... Fact is...   Come Monday... If the miners are not delivered... The miners are late.

thanks. much appreciate this statement..

I think someone just withdrew from the fan club...

Easy there, I'm still a fan, but the truth is the truth. When I was placing orders, especially the first one(5x), they were still indeed advertising

I could spend hours digging up more, but no bother, I'm just a bit sad we are indeed behind now. Those of us who were in the first 890 preorder, were told we would get our machines in september, and were told several times they are on track for "september delivery", which has somehow turned into "Shipping in September"

I hate to break it to you, but September delivery and Shipping in September mean basically the same thing. "Delivery" is per definition the act of transporting letters or goods to a predefined point/person - shipment is the act or an instance of shipping goods. It is NOT the same as you getting your order in September.  

I hereby cite the openday report, and "In a room full of witnesses" saying otherwise. O'rama himself vouched for that.
Besides, if someone tells you your check is in the mail, It means a very different thing than your check has been delivered.

[Satobit]

I'm sorry guys & gals, but this time Xallia & Crumbs are right.

When I ordered, It was for September DELIVERY, not September shipping.

Call it what you will... Fact is...   Come Monday... If the miners are not delivered... The miners are late.

thanks. much appreciate this statement..

I think someone just withdrew from the fan club...

Easy there, I'm still a fan, but the truth is the truth. When I was placing orders, especially the first one(5x), they were still indeed advertising

I could spend hours digging up more, but no bother, I'm just a bit sad we are indeed behind now. Those of us who were in the first 890 preorder, were told we would get our machines in september, and were told several times they are on track for "september delivery", which has somehow turned into "Shipping in September"

I hate to break it to you, but September delivery and Shipping in September mean basically the same thing. "Delivery" is per definition the act of transporting letters or goods to a predefined point/person - shipment is the act or an instance of shipping goods. It is NOT the same as you getting your order in September. 

I hereby cite the openday report, and "In a room full of witnesses" saying otherwise. O'rama himself vouched for that.

Bitcoinoramaed.

[rizzman]

Still 3 days to go. no sense in pronouncing judgement till they cross the red line. Lets see what they do.

[dhenson]

Still 3 days to go. no sense in pronouncing judgement till they cross the red line. Lets see what they do.

People need to chill out.  I'd actually preferred they timed their shipment with the next network difficulty increase so that we get a full 2016 blocks of hashing before the network adjustment.

[Phoenix1969]

Still 3 days to go. no sense in pronouncing judgement till they cross the red line. Lets see what they do.

Couldn't agree more, just it's Saturday morning already in Sweden with a Monday deadline, so I'm on the edge of my seat already...  checking the pool for hits every hour, etc... Waiting on a possible call about VAT as well with cc handy... this is nerve-racking, no sense in mentioning calculated losses beginning Tuesday for the September folks... oops. Did I mention I have a flight on the 1st? (cancelled once already from the 26th) Hope this pans out.

[plasmoske]

Wut. It's better to ship as soon as possible even if it's before a difficulty adjust.

Miners/pools have been trying to game the difficulty for ages... it doesn't work!

Check before every difficulty adjust, you'll always see the network speed go down.

--

Correct me if I'm wrong

[Paladin69]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

That's a terribly pessimistic outlook.

When GPU's were no longer any use for mining bitcoin, gpu miners swopped over to litecoin.

When the lower end asic miner no longer mine enough BTC to make it worthwhile, they'll switch to an alt too. I assume people with jalapeno's are mining zetacoin or something like that, rather than huddling round it for heat.

I'd say it's fairly likely we'll see a SHA256 alt coin explode in 2014 for this reason.

It's pessimistic but it's true.  There are a lot of people interested in mining now.  You can thank the April bubble for that.  A lot of greedy people out there.  They just don't have any clue as to what they're getting in to.  Mining has almost never been about mining for profit.  The brief FPGA era wasn't too bad because not that many were involved as they are now.  ASIC's are just too fast and specs are going to start upgrading every 3 months.  And everyone wants one.  The only profit in mining is for the hardware developers.

Coins don't explode in value just because miners are interested in them.  Higher supply equals lower demand.  Services using these coins are what matters.  And BTC has all the momentum.  No need for Litecoin as the "silver" to Bitcoins "gold" when BTC is both "silver" and "gold".  Although alts might have short term value when attempting to trade them for BTC.

Plus you can't just easily point an ASIC to a different coin.  It's not like an FPGA with a memory chip.

[zedicus]

A certain picture came to mind..

[dave111223]

Higher supply equals lower demand.  

Ehh, must have missed that economics class.

[timmmers]

Whatever else happens, we should at least see a working rig in the next 24 hours or so...the one in Shanghai is being demonstrated on the 29th they said.

[Biomech]

Higher supply equals lower demand.  

Ehh, must have missed that economics class.

Then you studied Keynes exclusively.

[plasmoske]

Whatever else happens, we should at least see a working rig in the next 24 hours or so...the one in Shanghai is being demonstrated on the 29th they said.

I heard so many people quoting that yet nobody has the source to back it up. KNC Chinese forums etc. Where is it? Is there a link where I can see this quote of "we will demonstrate it on the 29th"?

[dwdoc]

Whatever else happens, we should at least see a working rig in the next 24 hours or so...the one in Shanghai is being demonstrated on the 29th they said.

I heard so many people quoting that yet nobody has the source to back it up. KNC Chinese forums etc. Where is it? Is there a link where I can see this quote of "we will demonstrate it on the 29th"?

That was from KnCminer forum:

http://forum.kncminer.com/member/578-gp2x

But it is misinformation. The KnCminer China website says "In October, we will be in Shanghai to present you the genuine machine, then you will be able to experience the performance of the mining machine."

http://kncminer.cn/news/demo-machine-shanghai/

[rizzman]

Still 3 days to go. no sense in pronouncing judgement till they cross the red line. Lets see what they do.

Couldn't agree more, just it's Saturday morning already in Sweden with a Monday deadline, so I'm on the edge of my seat already...  checking the pool for hits every hour, etc... Waiting on a possible call about VAT as well with cc handy... this is nerve-racking, no sense in mentioning calculated losses beginning Tuesday for the September folks... oops. Did I mention I have a flight on the 1st? (cancelled once already from the 26th) Hope this pans out.

Once you get out there and get situated, please come back and let everyone know what you observed. It would be helpful for us waiting on Snailmail and much appreciated.

[demonmaestro]

We will present you a genuine Shanghai Machine

In October, we will be in Shanghai to present you the genuine machine, then you will be able to experience the performance of the mining machine. If you want toselected among all participants in October with the kind of intimate contact local places (transportation and accommodation costs will be borne by the selected users). All users will be able to visit the site will receive a phone call and SMS notification.
 
Refund Policy
 
Our regional headquarters in China was established only recently, but we still ensure that every user can get the best service. We understand that there are questions in the bitcoin community voices, so that we convey to you a clear responsibility, honest attitude becomes extremely important.
For recently received the order, we will arrange 11 moonrise shipped. If we fail in a given time of delivery, the purchase price will be refunded. Please keep your proof of purchase for a refund instant access to your ordering information.