Swedish ASIC miner company kncminer.com

[Wesly]

Whats really annoying is they did not say whether they would sell upgrades and I have asked on their forum right in the middle of an active discussion and KNC stopped responding.

Also replied to the Newsletter, to sales and to Orama.

<crickets>

You do realize they are in Swedish time and the last post form Kurt was at 5:11pm and you first posted your question at 5:44pm?  And again at 8:31pm and 8:55pm...   They are being good parents if they continue to ignore you tomorrow.

http://forum.kncminer.com/forum/resellers-affilicates/general-questions/29377-plan-b/page2

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[2tights]

For the first time I am considering a refund quite seriously. I think I may refund and buy BTC. Anyone else share my sentiment?

[3rac3]

For the first time I am considering a refund quite seriously. I think I may refund and buy BTC. Anyone else share my sentiment?

It was always a gamble and still is.

I am sticking with KNC.

[joeventura]

Whats really annoying is they did not say whether they would sell upgrades and I have asked on their forum right in the middle of an active discussion and KNC stopped responding.

Also replied to the Newsletter, to sales and to Orama.

<crickets>

You do realize they are in Swedish time and the last post form Kurt was at 5:11pm and you first posted your question at 5:44pm?  And again at 8:31pm and 8:55pm...   They are being good parents if they continue to ignore you tomorrow.

http://forum.kncminer.com/forum/resellers-affilicates/general-questions/29377-plan-b/page2

you sir have a very valid point!

[NetTime]

For the first time I am considering a refund quite seriously. I think I may refund and buy BTC. Anyone else share my sentiment?

Yes.  This is some straight bs.  They will not sell us any hardware available now, they are taking their sweet ass time with Neptune, and they are constructing a facility that will obliterate the difficulty and completely kill any chance we had of making profit in Q3+Q4 this year.  Their NPS and newly outlined Plan B are a pair of sickening jokes.

All of this after we gave them piles of money to fund their business a year ago, and again on their 2nd product offering, this is how they repay us.

[2tights]

For the first time I am considering a refund quite seriously. I think I may refund and buy BTC. Anyone else share my sentiment?

It was always a gamble and still is.

I am sticking with KNC.

I would greatly appreciate you going in to detail about how you view things right now. for isntance:

• projected difficulty
• possibility of ROI
• altcoin mining
• etc, anything else

Thanks in advance for sharing your thoughts.

[DPoS]

All of this after we gave them piles of money to fund their business a year ago, and again on their 2nd product offering, this is how they repay us.

it seems the shovel makers realized that shoveling makes money too

that should be new motto on their neptune boards..   "Shoveling makes our dreams get found"

[1l1l11ll1l]

This all is a big smoke screen it seems. I'm trying to make sense out of it and am having av difficult time.

I have a batch 1 order. Wtf does this mean? I don't see how this info helps me make an intelligent decision... Do I hodl or bail and reinvest elsewhere?

I'll rewrite what I wrote earlier, to make it a little clearer.

KNC will already be hashing with all the machines they will need to give their 3600 neptune customers 3TH on 1st July. In fact, as I said earlier, it's probably a drop in the ocean in terms of what they plan to have at that time.

Come on! They aren't going to leave millions of dollars worth of machine powered off until 30th June 2014 and then turn them on at midnight!

Which means the customer appreciation batch will be just about as worthless as the batch 2(3), as all these machines will already be hashing, the bitcoin difficulty will have already adjusted/risen to account for these 3600 machines.

So instead of having a few weeks of mining and then seeing earnings decline (as with jupiter), you'll start out with the declined earnings and knc will have cleaned up any profits there was to be made beforehand!

Essentially, your neptunes are going to be pre-mined. You'll get it delivered at the highest difficulty ever seen. You won't be adding a 3TH machine to the global bitcoin hashrate, you'll just be re-attaching it when it's probably already been there for a couple of months.

In other words, knc will reap the benefits of your investment and all the bitcoins they can mine, then pass the leftovers at massive difficulty to people on 1st July. You are paying for that. The physical delivery of the product will just be to end any obligation to you and will most certainly be utterly useless hardware by the time it physically arrives. The cost to power it will probably be more than it can mine back.

And to think at one point I suspected you were a crazy conspiracy theorists. Tuens out you were right on.


Explains why the network difficulty has had such major increases while KNC and Cointerra weren't shipping. I knew antminers were selling fast, but yeah, there's out network protection plan, or for KNC a Netowk Pock Plan, just pocket their share of the network. Nice way to announce that they are completely screwing their early adopters by hashing well above 5% against them, just sell it to your "plan B" company and now they're a customer. Isn't "plan B" usually scrap the place and get out?

[1l1l11ll1l]

All of this after we gave them piles of money to fund their business a year ago, and again on their 2nd product offering, this is how they repay us.

it seems the shovel makers realized that shoveling makes money too

that should be new motto on their neptune boards..   "Shoveling makes our dreams get found"

 "All your Jupiters are belong to us"

[soy]

Moot now, but wow.  Three of my posts wondering if the MtGox situation had any bearing on KnC offering new miners got deleted!  I think some guys here complain and ask for my posts to be deleted simply because they're my posts.

[soy]

If one's Neptune is at their hosting site rather than shipped to the customer, it will likely never appear on Ebay and never appear as outright competition.

[dropt]

If one's Neptune is at their hosting site rather than shipped to the customer, it will likely never appear on Ebay and never appear as outright competition.

Of course it won't.  They'll be in control of your hardware.  Further, they're not going to spend their own money to host your shit, they're going to re-sell your hashpower for profit.

[soy]

So who wants to buy a KNC controller card for a mercury/neptune/saturn?

Don't think I will have a use for it now.

ya, i bought a soldering/rework station for adding headers onto my Nov Jupiters that will now prolly just collect dust........

Sigh, I just bought a bag of the sockets and have a new roll of ribbon cable here unused.  What's the emoticon for empathy?

[The Avenger]

And to think at one point I suspected you were a crazy conspiracy theorists. Tuens out you were right on.

Explains why the network difficulty has had such major increases while KNC and Cointerra weren't shipping. I knew antminers were selling fast, but yeah, there's out network protection plan, or for KNC a Netowk Pock Plan, just pocket their share of the network. Nice way to announce that they are completely screwing their early adopters by hashing well above 5% against them, just sell it to your "plan B" company and now they're a customer. Isn't "plan B" usually scrap the place and get out?

I've been predicting their future behaviour based on their past behaviour.

They usually go dead silent when they are fucking people over. That's their typical behaviour, proved many times before.

They were dead silent at the end of September. They were dead silent coming up to the 15th October. They were dead silent about November Jupiter's delays until the day they were supposed to start shipping them.

The last two months of silence - you could be sure they were planning something mega shitty

Just a matter of piecing together the byteminr announcement in December to their hardware supplier to guess what that was.

And yes, this certainly explains the major difficulty rises in December etc. It could only have been caused by a major asic company shipping high hashrate machines in bulk. And there was only one company in the position to do that.

[soy]

Yeah.. I'm not a KnC customer - BFL (ugh) and HF (ugh) - but when I saw this, my first reaction (and it remains my reaction) is that the consumer-miner is out of business once the present generation of machines is no longer viable - those are already delivered or whose delivery is obliged by contract. 

We're walking dead.  Zombies.  Mining will now be done by chip companies, probably allied with capital for datacenter fab and operation.  You might buy shares, but shares that will only ROI with steep BTC appreciation.  It's over.  And I barely even started!

Possibly true - on the other hand having one of two of the best machines in a home should approach the profit/machine of the large farms in cold climes with cheap energy because they'll pay rent and wages.

[JimmyJams]

And to think at one point I suspected you were a crazy conspiracy theorists. Tuens out you were right on.

Explains why the network difficulty has had such major increases while KNC and Cointerra weren't shipping. I knew antminers were selling fast, but yeah, there's out network protection plan, or for KNC a Netowk Pock Plan, just pocket their share of the network. Nice way to announce that they are completely screwing their early adopters by hashing well above 5% against them, just sell it to your "plan B" company and now they're a customer. Isn't "plan B" usually scrap the place and get out?

I've been predicting their future behaviour based on their past behaviour.

They usually go dead silent when they are fucking people over. That's their typical behaviour, proved many times before.

They were dead silent at the end of September. They were dead silent coming up to the 15th October. They were dead silent about November Jupiter's delays until the day they were supposed to start shipping them.

The last two months of silence - you could be sure they were planning something mega shitty

Just a matter of piecing together the byteminr announcement in December to their hardware supplier to guess what that was.

And yes, this certainly explains the major difficulty rises in December etc. It could only have been caused by a major asic company shipping high hashrate machines in bulk.

My take is somewhat slightly different. Congratulations all KNC customers you have successfully financed one of the largest private bitcoin mining operations in the world.

[elasticband]

Well, not sure I cloaked my question well or what, but obviously what I'm saying is that I am not sure how this new information shapes the landscape. I am hoping that you all keep chatting it up so I can make more sense of it.

I want my Neptune, I don't want it hosted because I'm a god damn geek and I want to geek out with my hardware. I can't very well do that if they host it.

Thank you! Exactly! I bought a neptune which was sold as a physical device, never a hosting plan. "we all know" mining btc never achieves ROI in BTC, we buy the hardware for fun.

A hosted hashrate that i can't control and i will never actually own is not what was sold and it is not what anyone bought.

KnC have tried to give a resolution for if delays occur to protect people and everyone has flipped out and interpreted which ever left right up down way they have chosen. So much FUD spread in a few hours.  

[joeventura]

My take is somewhat slightly different. Congratulations all KNC customers you have successfully financed one of the largest private bitcoin mining operations in the world.

Wise this newbie is!

[2tights]

Will someone please explain both sides of this

It's smart to keep your Neptune order because:

It's smart to refund your Neptune order because:


I'd like to see both sides state their logic.

[JimmyJams]

My take is somewhat slightly different. Congratulations all KNC customers you have successfully financed one of the largest private bitcoin mining operations in the world.

Wise this newbie is!

Alt account, lol.