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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3039472 times)
tampazeus
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November 06, 2013, 04:07:21 PM
 #19961

Anyone of you also suffer a lot of downtime with KnC hosted miners the last week?

My hosted miner was down almost 8 hours last week. Dunno what you mean a lot of downtime though.
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November 06, 2013, 04:10:16 PM
 #19962

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

Bar, there is a saying that perfectly fits the situation: "If you want to do something, you’ll find a way. If you don’t, you’ll find an excuse."
They found an excuse, I found a way  Wink
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November 06, 2013, 04:11:50 PM
 #19963

Other than re-upping on Equipment...
 I just don't see any sane reason why a miner would cash his/her bitcoins in right now...
unless you are starving or something...

It actually makes quite a bit of sense to dollar cost average to a position you feel comfortable with.  most investing books say that this is the best mechanism to reduce risk and reap maximum rewards.  In our case, setting up a periodic sell order at market price for a fixed amount of USD is probably a good idea.

I have predetermined buy and sell benchmarks. When BTC raises to X USD I sell Y% of my BTC holdings. When BTC drops to A USD I buy BTC worth B% of my USD holdings. That way I can still ride they waves and cash in on the crashes. It's like gambling. You should never use your emotions but quit when you either A) lose a certain amount B) win a certain amount or C) gamble for a certain period of time. If you don't have a plan then your emotions will wreck you...

Dollar cost averaging out is very wise.

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November 06, 2013, 04:13:15 PM
 #19964

Bar, there is a saying that perfectly fits the situation: "If you want to do something, you’ll find a way. If you don’t, you’ll find an excuse."
They found an excuse, I found a way  Wink

Did they give you alternatives? Again your way might not have been viable.

You are close enough to them the RMA shouldn't take but a day or two max just send it in!
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November 06, 2013, 04:13:34 PM
 #19965

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

Bar, there is a saying that perfectly fits the situation: "If you want to do something, you’ll find a way. If you don’t, you’ll find an excuse."
They found an excuse, I found a way  Wink

Or they can outsource it to someone that is willing to handle it all for them  >ME<
Like I offered a month ago.


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November 06, 2013, 04:13:45 PM
 #19966

I was never compensated for downtime and KnC doesn't have any sort of advanced RMA.

November products are way overpriced.

I'm not very excited for a new 16/20nm chip.  They claim to be grateful to customer's that helped put them on the map but I have yet to see that.
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November 06, 2013, 04:16:57 PM
 #19967

They didn't say they had 70% of the hashrate, only 70% of coins produced..which sounds a lot like BS since they can't possibly measure that given all the pools involved?

Yes, it is bullshit.

A Bitcoin "miner" do not produce any BTC. Such device only guarantees an increase in the chances to receive the block reward. Pool "mining" allows concentration of the hash rate to distribute the reward in proportional shares. So such claims like this...

Quote
Currently almost 70% of all Bitcoins mined today are being created upon KnCMiner hardware, distributed to customers in over 120 countries globally, the companies claimed.

...it is just a plain and straight lie. I do not know what are the underlying reasons to make such claims, but I am sure it will fool potential customers to believe that a Bitcoin "miner" will really create BTC.

By the way, it is impossible to track what Bitcoin "miners" are responsible for the daily supply of BTC. Even if it was possible, a claim like that would not be true anyway. All Bitcoin "mining" devices help to generate the required encryption to form the blockchain. In other words, every block uses the random hash of many devices as possible.
Paladin69
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November 06, 2013, 04:18:28 PM
 #19968

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

That's fucking stupid.  Most tech companies have an advanced RMA process to charge a CC temporarily.
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November 06, 2013, 04:19:23 PM
 #19969

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

That's fucking stupid.  Most tech companies have an advanced RMA process to charge a CC temporarily.
Yeah bar, your wrong here. KnC is the first tech company I have dealt with in a while that DOESNT offer an advanced RMA
augustocroppo
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November 06, 2013, 04:26:15 PM
 #19970

70% of BTC currently produced is the same thing as 70% of the hashrate. If you want to get into variance semantics then you will just lose over time Smiley

Oh, really?

How that works?

Explain to us how the reward of 2520 BTC each 24 hours is the same thing as 2862405.7 billions SHA-256 hash being generated per second.

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November 06, 2013, 04:27:47 PM
 #19971

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

There appear to be some caveats to the RMA process for dead dies as well as the diagnostic.bin being useless for new firmware.  Here is a reply I received when trying for RMA (my highlights).

Hi,
The diagnostic file will never display the new and correct output after 98.1 so it’s not giving us the correct information. That said, if you are still getting less than 106 GH/s per board we can issue an RMA.
Should you have any further questions please do not hesitate to contact us.
Thanks
Emilia


Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
Paladin69
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November 06, 2013, 04:36:29 PM
 #19972

If KnC has 70% of the hashrate, then they were very irrisponsible in how much hashrate they brought online.  This trend will continue.

10TH next-gen miners sound awesome until you realize your piece of the 3600 per day coin lotto keeps getting smaller.  ASIC sure turned mining into a ponzi for the benefit of old money.
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November 06, 2013, 04:38:32 PM
 #19973

Bar, there is a saying that perfectly fits the situation: "If you want to do something, you’ll find a way. If you don’t, you’ll find an excuse."
They found an excuse, I found a way  Wink

Did they give you alternatives? Again your way might not have been viable.

You are close enough to them the RMA shouldn't take but a day or two max just send it in!

No alternatives were offered. Liam was very adamant over the phone, not even giving a reason why a BTC deposit is not a viable option. He just said: "we are not going to change our RMA procedures" in a way that made it clear they don't want to work with their customers.

Sending it back is a risk I am not willing to take: it can take 3 days, it can take a week. The lost revenue while my machine is offline will never get recouped back from the increased hashing performance. At least not at this stage.
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November 06, 2013, 04:50:09 PM
 #19974

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

That's fucking stupid.  Most tech companies have an advanced RMA process to charge a CC temporarily.
Yeah bar, your wrong here. KnC is the first tech company I have dealt with in a while that DOESNT offer an advanced RMA

Never have experienced this. My apologies.

However you believe that when providing "Money Printing Machines" there should be advanced RMA? Sorry blame human nature.
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November 06, 2013, 04:57:36 PM
 #19975

If KnC has 70% of the hashrate, then they were very irrisponsible in how much hashrate they brought online.  This trend will continue.

With the network roughly 4 TH/s, 70% would be 2.8 TH/s, or roughly 5000 Jupiters. But they shipped a lot of units slower than Jupiters. So lets say roughly 10,000 units shipped. Is that in line with their shipping announcements?

Buy & Hold
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November 06, 2013, 04:59:46 PM
 #19976

https://www.kncminer.com/news/news-63

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The computing performance of Jupiter is 3600% higher than the closest commercial competitor.

WTF?

Buy & Hold
Bargraphics
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November 06, 2013, 05:03:12 PM
 #19977

If KnC has 70% of the hashrate, then they were very irrisponsible in how much hashrate they brought online.  This trend will continue.

With the network roughly 4 TH/s, 70% would be 2.8 TH/s, or roughly 5000 Jupiters. But they shipped a lot of units slower than Jupiters. So lets say roughly 10,000 units shipped. Is that in line with their shipping announcements?


4PH*

2.8PH*

That is quite a bit of Hashrate but understand they though each unit Jupiter would originally only do 350GH or 87.5GH/Chip

Let's assume they had 20,000 Chips - 1.75PH



https://www.kncminer.com/news/news-63

Quote
The computing performance of Jupiter is 3600% higher than the closest commercial competitor.

WTF?

I'm assuming they are talking about Chips

I believe BFL has the next "Most GH Per Chip" (Regardless of power consumption

https://products.butterflylabs.com/65nm-asic-bitcoin-mining-chip.html
BFL Chip - 4GH

550 / 4 = 137.5
KnC Chip - 137.5 GH

3437.5% increase
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November 06, 2013, 05:04:07 PM
 #19978

https://www.kncminer.com/news/news-63


"Unbeknown to the community we are currently developing the next generation product in 20nm/16nm process with Alchip "

They have time to post such news, but don't have the time to participate in their own forums and help people out on their devilish products? They aren't thinking people are going to buy from them again, do they? Is making an announcement like that just a start of mind controlling techniques in the marketing world? Also, if you tried to visit that link www.ast.com that is IN their news publication it doesn't even work.



It is www.ast.co.il

augustocroppo
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November 06, 2013, 05:17:56 PM
 #19979

https://www.kncminer.com/news/news-63

Quote
The computing performance of Jupiter is 3600% higher than the closest commercial competitor.

WTF?

 Huh

Quote
This new 28nm ASIC chip has revolutionized the Bitcoin mining industry. The computing performance of Jupiter is 3600% higher than the closest commercial competitor. The state of the art KnCMiner Jupiter is having a profound effect that’s resonated throughout the Bitcoin mining industry, since the completion of delivery of their first shipment this week.

Yeah, the "profound effect" was the sky-rocket of difficulty, a very important factor which should be made aware by them to every new customer. However, they are more interested to make this stupid statements and keep hidden the real facts, which in turn will guarantee the sales of more and more devices to misinformed customers.

By the way, the "state of the art" is another marketing bullshit. The firmware for their products is still under version 1.0. Moreover, as evidenced by this topic, many KnCminer customers had to open the "miner" cases and deal with internal components to guarantee the product would work as best as possible. The promise of a plug and play product never came to existence. There is not such thing as "state of the art" product among KnCminer offers.

Now, where the "3600%" statement come from, I have no idea...
Paladin69
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November 06, 2013, 05:23:56 PM
 #19980

So KNC would not accept even Bitcoins as a security in order to send working boards first as to minimize downtime for customers.
From where I am standing it looks like they are trying hard to work against their customers by refusing to come up with a RMA solution that works for both sides.
I can not think of a single reason why they would not accept BTC as a security in order to send working boards first, apart from trying to discourage people from using the RMA service.

This has to do with people trying to "Game" the system.

Maybe they don't want to be liable with your BTC or want to deal with customers saying they never got the BTC back (Lieing to game the system)

RMA has always been, send it back and they send you a new one. This isn't a new concept. While I understand the frustration of potentially losing money while it is RMA'd that is the nature of the beast and their hands are tied.

That's fucking stupid.  Most tech companies have an advanced RMA process to charge a CC temporarily.
Yeah bar, your wrong here. KnC is the first tech company I have dealt with in a while that DOESNT offer an advanced RMA

Never have experienced this. My apologies.

However you believe that when providing "Money Printing Machines" there should be advanced RMA? Sorry blame human nature.

Especially when they print less than what was spent.

Oh well.  You got yours, bar.  I'm sure if I was in your position with a Day1 order and everything luckily worked out, I would proudly lick my KnC kneepads too.
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