Swedish ASIC miner company kncminer.com

[timmmers]

The cointerra rig doesn't look like it's going to have cooling problems. I'm glad it's just a rendering now, looks like another steep slope in difficulty when those hit market. Looks the business. :/

They're right down the street.  I'll be watching them closely.  Don't need another experience like this one.

Hahaha. Too true
One thing about ASIC manufacturers, they're all wonderful, leaders in the field, until they get your money.

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[Sitarow]

Sadly I fall into that category Joeventura brought up:

I did get an emailed note from Emilia earlier as posted in the thread and true indeed I see my order status changed to shipped.   However I received no tracking email from neither DHL nor UPS.



Does anyone know/can confirm  do I need to flash to the latest FW once I recive my unit or will it be flashed to .95 already at this point?

Mine arrived today with 0.95 on their latest firmware.

I will update my first impressions thread with the V2 hardware results once it arrives.

[Phoenix1969]

V2 hardware??  If you mean 4vrm boards...they work fine on saturns, if not a bit slower on jupiters... 

[nightengale]

Sadly I fall into that category Joeventura brought up:

I did get an emailed note from Emilia earlier as posted in the thread and true indeed I see my order status changed to shipped.   However I received no tracking email from neither DHL nor UPS.



Does anyone know/can confirm  do I need to flash to the latest FW once I recive my unit or will it be flashed to .95 already at this point?

Mine arrived today with 0.95 on their latest firmware.

May I ask your order number?

[wizkid057]

Eligus pool is such a scam saying 105% pps...
total from eligius so far in BTC...  3.2 x $150 = $480.00 USD
                         so far in NMC.... 1.45 x .57 =           .82 USD
NMC is not even two tenths of a single percent

105% PPS for NMC, as in (50/namecoin_difficulty)*1.05 NMC per accepted share (weighted for difficulty 1).  CPPSRB targetting 100% PPS for Bitcoin, putting shares in the share log at 100% PPS. (25/bitcoin_difficulty).

This is all explained on the website. Plus everything needed to verify every Eligius miner's rewards is exposed for anyone to independently verify and prove that the pool is paying exactly what it should.  Eligius is also the only large pool that I know of that pays directly from the coinbase transaction, so, the pool rarely even touches your newly generated coins.

Trying to say the pool is a scam without even actually understanding what and why you're accusing is silly.

-wk

[Phoenix1969]

Eligus pool is such a scam saying 105% pps...
total from eligius so far in BTC...  3.2 x $150 = $480.00 USD
                         so far in NMC.... 1.45 x .57 =           .82 USD
NMC is not even two tenths of a single percent

105% PPS for NMC, as in (50/namecoin_difficulty)*1.05 NMC per accepted share (weighted for difficulty 1).  CPPSRB targetting 100% PPS for Bitcoin, putting shares in the share log at 100% PPS. (25/bitcoin_difficulty).

This is all explained on the website. Plus everything needed to verify every Eligius miner's rewards is exposed for anyone to independently verify and prove that the pool is paying exactly what it should.  Eligius is also the only large pool that I know of that pays directly from the coinbase transaction, so, the pool rarely even touches your newly generated coins.

Trying to say the pool is a scam without even actually understanding what and why you're accusing is silly.

-wk

Eligus pool is such a scam saying 105% pps...
total from eligius so far in BTC...  3.2 x $150 = $480.00 USD
                         so far in NMC.... 1.45 x .57 =           .82 USD
NMC is not even two tenths of a single percent

105% PPS for NMC, as in (50/namecoin_difficulty)*1.05 NMC per accepted share (weighted for difficulty 1).  CPPSRB targetting 100% PPS for Bitcoin, putting shares in the share log at 100% PPS. (25/bitcoin_difficulty).

This is all explained on the website. Plus everything needed to verify every Eligius miner's rewards is exposed for anyone to independently verify and prove that the pool is paying exactly what it should.  Eligius is also the only large pool that I know of that pays directly from the coinbase transaction, so, the pool rarely even touches your newly generated coins.

Trying to say the pool is a scam without even actually understanding what and why you're accusing is silly.

-wk

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

[Luke-Jr]

5% is 5%...  in the end, it's not 5%. Dishonest or misleading at the very least.

In the end, it's 105%, exactly as advertised.

[Crypto_Cumbrian]

Sadly I fall into that category Joeventura brought up:

I did get an emailed note from Emilia earlier as posted in the thread and true indeed I see my order status changed to shipped.   However I received no tracking email from neither DHL nor UPS.



Does anyone know/can confirm  do I need to flash to the latest FW once I recive my unit or will it be flashed to .95 already at this point?

Mine arrived today with 0.95 on their latest firmware.

May I ask your order number?

#2389   Paid 19th June. 1 x Jupiter , Shipped to the UK.

[Phoenix1969]

5% is 5%...  in the end, it's not 5%. Dishonest or misleading at the very least.

In the end, it's 105%, exactly as advertised.

How do you figure that 87 cents is 5% of $480.00?
in that case, it's 105% of NMC, and 100% of BTC, which still isn't 5%
...Just trying to wrap my brain around this....

[ssateneth]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It says it right here. You're just blind, or trolling.

[Sitarow]

V2 hardware??  If you mean 4vrm boards...they work fine on saturns, if not a bit slower on jupiters...  

Yes when I say V2 I ment to say hardware revision 2.

5% is 5%...  in the end, it's not 5%. Dishonest or misleading at the very least.

In the end, it's 105%, exactly as advertised.

How do you figure that 87 cents is 5% of $480.00?
in that case, it's 105% of NMC, and 100% of BTC, which still isn't 5%

It is hard to argue the point you are attempting to make when you are using values that are the result of a currency conversion exchange rate.

Stick with the primary currency.

[Puppet]

Phoenix1969 thought eligius would pay him 105% PPS overall, something only Pirate ever did to launder his ponzi.
What eligius apparently does is pay 5% extra on NMC. I guess Luke has tons of namecoins ?

[Phoenix1969]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It says it right here. You're just blind, or trolling.

OMG.  You guys don't get the point.  getting an extra 5% on NMC doesn't mean you're getting 105% on your total shares when you account for BTC, which is about 99.8% of your payout. Getting a measly 5% on 57 cents isn't anywhere close to 105% of your total payout with btc & nmc combined

[wizkid057]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It doesn't even say on the Eligius homepage anything about % PPS or anything about NMC for that matter yet because I haven't had a chance to update it.

The forum thread here is titled: Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 #

This is in no way misleading or even ambiguous.  It says 105% PPS NMC, and the pool pays exactly that with roughly daily NMC payouts.

-wk

Phoenix1969 thought eligius would pay him 105% PPS overall, something only Pirate ever did to launder his ponzi.
What eligius apparently does is pay 5% extra on NMC. I guess Luke has tons of namecoins ?

Eligius has a huge buffer of namecoins, yes.  That combined with not everyone desiring to be paid NMC makes it easy to provide 105% PPS for NMC.

[Bargraphics]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It doesn't even say on the Eligius homepage anything about % PPS or anything about NMC for that matter yet because I haven't had a chance to update it.

The forum thread here is titled: Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 #

This is in no way misleading or even ambiguous.  It says 105% PPS NMC, and the pool pays exactly that with roughly daily NMC payouts.

-wk

Phoenix1969 thought eligius would pay him 105% PPS overall, something only Pirate ever did to launder his ponzi.
What eligius apparently does is pay 5% extra on NMC. I guess Luke has tons of namecoins ?

Eligius has a huge buffer of namecoins, yes.  That combined with not everyone desiring to be paid NMC makes it easy to provide 105% PPS for NMC.

[Biomech]

I saw a post recently where one block had over 200 BTC in TX fees. That should be EVERY block, and it would be if BTC were a mainstream currency. Then you wouldn't be worrying about short term ROI, as every block would be significantly more powerful than simply it's block reward.

You are exaggerating.

Wider utilization of the Bitcoin Network is not a factor to predict increase/decrease in the volume or price of the transaction fees.

You think that transaction fees should generate 200 BTC because you are assuming the case you saw was a result of ordinary collected fees. That is not true and the average fees generated by a block are less than the reward of 25 BTC.

E.g.

If 200 BTC had been generated by only minimum transaction fee, that would mean:

200 / 0.00050000 = 400,000 transactions

Assuming that a block is generated in average each 10 minutes (600 seconds), that would result in:

400,000 / 600 = 666.6...

In other words, you are assuming the Bitcoin Network had a block which was generated by 666.6... transactions per second.

This is absurd.

At the present moment, 12:47 GMT +0, the Bitcoin Network processed 57,155 transactions in the last 24 hours. That means 0.66 transactions per second:

57,155 / 86,400 = 0.6615162037...

Step down of your soapbox and rethink about your hypothesis, because you are not providing a good background for your claim. You forgot to consider that 200 BTC transaction fee could be the result of a mistake:

https://blockchain.info/tx/b18abce37b48a5f434f108ae7ce34f22aa2bfbd9eb9310314029e4b9e3c7cf95

http://www.reddit.com/r/Bitcoin/comments/1lb5my/asicminer_refunds_the_accidental_200_btc/

ASICMiner refunds the accidental 200 BTC transaction fee. Friedcat is a true hero of the Bitcoin community

Oh, I freely admit that it was a fluke (the one I saw was not the ASIC miner thing, I do remember that.) But to say it's unreachable to have 600+ transactions in a ten minute period? I must severely disagree! How many dollar transactions do you think happen in ten minutes? Personally, I have no idea, but I do know that it's several orders of magnitude higher than that.

This is what I'm trying to say. If we can find a way to take BTC mainstream, that 200 BTC/block would be a LOW average.

[Luke-Jr]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It says it right here. You're just blind, or trolling.

OMG.  You guys don't get the point.  getting an extra 5% on NMC doesn't mean you're getting 105% on your total shares when you account for BTC, which is about 99.8% of your payout. Getting a measly 5% on 57 cents isn't anywhere close to 105% of your total payout with btc & nmc combined

Is the point that you're complaining about not getting something that was never offered?

[ssateneth]

I'm starting to think this guy feels he is entitled to 105% bitcoin PPS where in NO PLACE does it mention this in ANYWHERE on eligius website or forum threads.

[cognoscente]

If you find that you've dug yourself into a hole,  STOP DIGGING!

[wizkid057]

5% is 5%... Where does it say that's just for NMC? The top of eligius page says 105% pps, and doesn't specify NMC only on that.  in the end, it's not 5%. Dishonest or misleading at the very least.

It says it right here. You're just blind, or trolling.

OMG.  You guys don't get the point.  getting an extra 5% on NMC doesn't mean you're getting 105% on your total shares when you account for BTC, which is about 99.8% of your payout. Getting a measly 5% on 57 cents isn't anywhere close to 105% of your total payout with btc & nmc combined

Unfortunately, you are wrong.  That is what it boils down to.  You misinterpreted what was clearly written and are now trying to bash the pool to cover you're own lack of understanding.  

Heck, the 105% PPS for NMC is only written in something like two places to begin with, and both are clear that this is NOT for BTC. (Forum, Eligius stats).  Nor anywhere does Eligius promise 105% earnings over other pools or do we compare to anything at all.

I don't even know why I'm continuing to respond other than to prevent misinformation from your misunderstanding of mining harm Eligius's image in some way.

Eligius pays up to 100% PPS for BTC using the CPPSRB reward system, and exactly 105% PPS for NMC using straight PPS payments.

-wk