Swedish ASIC miner company kncminer.com

[jelin1984]

i think knc will be ok
and at end of these week will be have for sell some moddule

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[faetos]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

[af_newbie]

I have sent the bank details and will let you know how long it takes to arrive. Lucy says 3 to 10 days so i guess KnC are processing the requests straight away and the time it takes it the normal wire transfer time

Same here.  Kurt from knc replied in 5 hours.  I sent my wire details.  He replied within minutes: "Your refund will be processed shortly"
We'll see...

[vesperwillow]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

I'd say folks in this thread are more apt to get a refund than the average joe who purchased his system in good faith and is now simply forgetting about it/waiting for it, ie those who don't keep up with what's going on around them.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

It's unfortunate but true, that this is the eventual direction Bitcoin is going. A more people-centric crypto coin would be something like scrypt which is much harder to 'simplify hashing' but not hard enough that it becomes a chore.

I've always felt Bitcoin would be the foundation, but we would see better things down the road.

[Searing]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

This is likely Naive..but in the USA midwest when faced with these types of corporate farms taking over everyting...we made co-op's they are called....the farmers got together and did  a group co-op elevator....they ..this far out in the midwest could not get elec companies to put in lines/plants...co-op electricty ...same for gas compaines etc

not sure how the bylaws or framework or shares etc work in such an arrangement....but such an endeavor if open books etc would probably kick butt....imho

again i'm probably naive..but my Dad ran a grain elev co-op for years ...started out very small....by the time he retired everyone merged with him.....grain terminals...their own train ..their own bank.....kinda "its a wonderful life" movie for farmers

anyway my 2c worth for what it is worth

Searing

[WastedLTC]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes and my 2 Jupiters will run and run and run til they don't run any more.    My regret so far was selling one of my jupiters in early November.   Even with the difficulty rises, since mid November, my two Jupiters have created 37BTC.   Moving around 40 BTC to future mining isn't a big deal.   Today each Jupiter makes .15 but that is still $850 a week EACH ($810 BTC price).

I personally like seeing my pile of BTC grow...   I think people are just thinking short term.   You may not get 100% of your invested BTC in 10 days anymore...   got that--

Flip side, if KNC messes up, sure, refunds will be requested.   Nothing has changed since neptune went on sale.   Just relax and good luck.   Good times ahead.

[el_rlee]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes and my 2 Jupiters will run and run and run til they don't run any more.    My regret so far was selling one of my jupiters in early November.   Even with the difficulty rises, since mid November, my two Jupiters have created 37BTC.   Moving around 40 BTC to future mining isn't a big deal.   Today each Jupiter makes .15 but that is still $850 a week EACH ($810 BTC price).

I personally like seeing my pile of BTC grow...   I think people are just thinking short term.   You may not get 100% of your invested BTC in 10 days anymore...   got that--

Flip side, if KNC messes up, sure, refunds will be requested.   Nothing has changed since neptune went on sale.   Just relax and good luck.   Good times ahead.

It might even be that you will be able to buy better hardware in hand at the time the Neptune's are finished. Bit I expect KNC to raise the specs.

[Biodom]

I think the Neptune as a machine will be OK, but i am not so sure that they will have a cheap and reliable hosting solution, especially if you have the machine working for a long time to make ROI-and this is a clincher for me. I am also not sure that everyone who made noises about selling really sold/refunded. However, if KnC had lots of refunds and did not care-this would be an indication that there is some plan afoot similar to cloudhashing.

I would't be surprised if later on KnC announces that Neptune will be just a bunch of hashing power in the datacenter.
Two other points:
1. Neptune is a god of sea in Roman mythology (hint-hint?)
2. Neptune is the last planet (Pluto does not count and they will not call some machine Uranus for obvious reasons).

Conclusion: Neptune will be the last and long lasting design and it will be either "under water" or "under liquid". Endgaget hints from Alex/Bitcoinorama concur.

[af_newbie]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Personally I think the difficulty is going to jump at least 10 fold by the time Neptunes are delivered.
Would you sell 300GH for 16 coins today?  I would, that is why I asked for a refund.

BTW, the difficulty might jump 15 or 20 fold.  I used 10 just to give you some idea.

[ASIC-K]

well, i asked for a refund as well. Everyone needs to jump ship, difficulty will be sky rocketing.

[Biodom]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

[pedrosoft]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

+ 1

[The Avenger]

1. Neptune is a god of sea in Roman mythology (hint-hint?)

There is a saying "He who is shipwrecked the second time cannot lay the blame on Neptune". Which means when something you do fails twice - it's probably your fault. After Jupiter, I learned my lesson!

[DPoS]

It's unfortunate but true, that this is the eventual direction Bitcoin is going. A more people-centric crypto coin would be something like scrypt which is much harder to 'simplify hashing' but not hard enough that it becomes a chore.

I've always felt Bitcoin would be the foundation, but we would see better things down the road.

what were you going to do once all the bitcoins are done mining anyway?  junk the coin?  Scrypt mining has become a total joke as the flavor of the minute coins are everywhere... what is the point of that?

the secret is out, the space is crowded..  did you think simple money from running a machine was going to last forever?

[af_newbie]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

+ 1

Got 16.12 for my $13200.  Just waiting for the refund.

[af_newbie]

It's unfortunate but true, that this is the eventual direction Bitcoin is going. A more people-centric crypto coin would be something like scrypt which is much harder to 'simplify hashing' but not hard enough that it becomes a chore.

I've always felt Bitcoin would be the foundation, but we would see better things down the road.

what were you going to do once all the bitcoins are done mining anyway? 

Blocks will still have transaction fees.  So you'll be mining those.

[Biodom]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

+ 1

Got 16.12 for my $13200.  Just waiting for the refund.

For the obvious reasons this strategy is valid only if price of bitcoin stays the same or goes up.
If tomorrow BTC is $500 you have no recourse, but to hold BTC or sell at a loss.

[Gator-hex]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

[2tights]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

I agree. This is crazy, the blind leading the blind. "Everyone jump ship!" someone said, "Everyone refund, now!."

Uhm... no. You refund, I'm fine.

Nothing significant has changed in the time between when we ordered and now. People really need to get a grip... All great battles are hard fought.  Right now, this is like being in the trenches. HODL and calm down.

[vesperwillow]

what were you going to do once all the bitcoins are done mining anyway?  junk the coin?  Scrypt mining has become a total joke as the flavor of the minute coins are everywhere... what is the point of that?

the secret is out, the space is crowded..  did you think simple money from running a machine was going to last forever?

I never said the coin or the technological advance in transactions would go away, I said it would become the foundation. This is barely the dawn to a new age. Beyond our lifetime will be far greater applications, technologies and methods.

If you think scrypt is a joke, you might need to re-evaluate your entire understanding of everything cryptocurrency. Yes, there are crap coins out there, their purpose is pump/dump for BTC. Ride that wave. Myself and others do. Make sure to store up good scrypt coins. They have a purpose as well.

No other manufacturer even has a 3TH miner on the drawing board!

Drawing board doesn't matter to most miners--quickest product delivered does. I could have a 5TH system on the drawing board, but if most people found out they could get 2TH delivered next week.. they'll be purchasing more from the other guy, even if it costs more electricity--ESPECIALLY if you believe BTC value will rise.

I have never been an advocate of folks demanding refunds for their Neptunes, I just explain why I never  bought one. If I had bought one, I would keep it just for the resale value--there's idiots out there who'll pay premium for them even if they can't make a profit. There's money to be made either way..