Swedish ASIC miner company kncminer.com

[raskul]

So, here's they way I read it, as a follower of knc, and 'scammer' should you wish to believe that.

Whilst struggling to compile 20nm chips, KNC will be hosting equivalent TH/s for B1 customers using 28nm, with no hosting fee. Of course, had we anticipated the time-scale of the release of 20nm tech in October last year, we may well have questioned KNC delivery dates there and then and held off funding their operation with our pre-orders.

Succinctly, although hypothetically, here is how I might consider the overall view, had I been an engineer working on 20nm technology;

If I had designed a 20nm chip, I wouldn't be building bitcoin mining rigs with it, i'd be selling off the rights to massive global corporations and making billions of $'s. (that's $cottish Dollars, to make it simple for those who are unsure.)

I'd advise cancelling your KNC orders and asking for refunds. It'll be 2015 before we see a stable 20nm chip in a bitcoin mining rig.

best wishes,

R

[1714919935]

1714919935

[timmmers]

Over the next few months we are bringing online enough hashing power to make sure that any delay in the Neptune timeline will be compensated with a completely free hosted hashing packages to all fully paid customers.
 
In the addition to this commitment, as part of Plan B, for all Neptune customers, we will be offering a free conversion to a hosted hashing package where we will simply fill your wallets directly and you won’t have to worry about anything else. All the other costs taken care of by us. We are able to do this by using our 28nm chips which is why all products that we have coming out of our factory in the next few months will go into building and supplying the Plan B facility.

So if I read this right. We're not selling Jups or any 28nm kit to you, were building loads now though and mining with it for ourselves and building ourselves a datacentre and you'll get free hosting on your Neps ?

I'd love to know how much hashpower they intend to add. It looks to me as if instead of protecting us customers, they are intent on making life harder by joining the other ASIC suppliers increasing the difficulty and reducing our income from the rigs we have now (which we can't upgrade or replace from them).

A few people have said this would be their path. They make more mining than selling given that they only have the cost price to earn back. I'm fairly sure that they said they'd limit their mining though right at the start. Now they are competing with us. Lovely. We don't need to watch Cointerra and the rest, we know for sure that KNC can produce good kit pretty quickly with no problems at all in huge quantity.

Disappointed in them. Not surprised though. They seem to have forgotten their existing customers quite easily.

[Mota]

So, here's they way I read it, as a follower of knc, and 'scammer' should you wish to believe that.

Whilst struggling to compile 20nm chips, KNC will be hosting equivalent TH/s for B1 customers using 28nm, with no hosting fee. Of course, had we anticipated the time-scale of the release of 20nm tech in October last year, we may well have questioned KNC delivery dates there and then and held off funding their operation with our pre-orders.

Succinctly, although hypothetically, here is how I might consider the overall view, had I been an engineer working on 20nm technology;

If I had designed a 20nm chip, I wouldn't be building bitcoin mining rigs with it, i'd be selling off the rights to massive global corporations and making billions of $'s. (that's $cottish Dollars, to make it simple for those who are unsure.)

I'd advise cancelling your KNC orders and asking for refunds. It'll be 2015 before we see a stable 20nm chip in a bitcoin mining rig.

best wishes,

R

you obviously have no idea what you are talking about. they do not work on 20nm technology - they work with it. why would any global corporation with "billions" buy the rights for a chipdesign when they can easily make one themselve?

They will use the prefunded 20nm chips to bolster their family business, is all...

[timmmers]

So, here's they way I read it, as a follower of knc, and 'scammer' should you wish to believe that.

Whilst struggling to compile 20nm chips, KNC will be hosting equivalent TH/s for B1 customers using 28nm, with no hosting fee. Of course, had we anticipated the time-scale of the release of 20nm tech in October last year, we may well have questioned KNC delivery dates there and then and held off funding their operation with our pre-orders.

Succinctly, although hypothetically, here is how I might consider the overall view, had I been an engineer working on 20nm technology;

If I had designed a 20nm chip, I wouldn't be building bitcoin mining rigs with it, i'd be selling off the rights to massive global corporations and making billions of $'s. (that's $cottish Dollars, to make it simple for those who are unsure.)

I'd advise cancelling your KNC orders and asking for refunds. It'll be 2015 before we see a stable 20nm chip in a bitcoin mining rig.

best wishes,

R

You wouldn't make much from 20nm when Samsung and Intel are already on 14nm I think. Google it.

[raskul]

So, here's they way I read it, as a follower of knc, and 'scammer' should you wish to believe that.

Whilst struggling to compile 20nm chips, KNC will be hosting equivalent TH/s for B1 customers using 28nm, with no hosting fee. Of course, had we anticipated the time-scale of the release of 20nm tech in October last year, we may well have questioned KNC delivery dates there and then and held off funding their operation with our pre-orders.

Succinctly, although hypothetically, here is how I might consider the overall view, had I been an engineer working on 20nm technology;

If I had designed a 20nm chip, I wouldn't be building bitcoin mining rigs with it, i'd be selling off the rights to massive global corporations and making billions of $'s. (that's $cottish Dollars, to make it simple for those who are unsure.)

I'd advise cancelling your KNC orders and asking for refunds. It'll be 2015 before we see a stable 20nm chip in a bitcoin mining rig.

best wishes,

R

You wouldn't make much from 20nm when Samsung and Intel are already on 14nm I think. Google it.

I think the race to 14nm is getting quite hot actually;

http://www.extremetech.com/computing/174832-intel-cancels-14nm-fab-42-in-arizona-but-its-nothing-to-worry-about

and here is what I know of 20nm;

http://www.decryptedtech.com/news/tsmc-starts-mass-production-of-20-nm-chips

[jelin1984]

Hi guys,

It is understandable that you would all like some more information regarding 'Plan B'. As I said in my previous post, the finer details have not yet been ironed out and will most likely not be 100% decided until we decide to cross that bridge. We are still continuing with great success and with full steam on the original path and we will have some further information for you very soon, so please stay tuned!

I see a lot of questions regarding upgrade modules. We are still looking at the possibility of releasing more upgrade cards for sale. However, our management team are still yet to decide the details of this. As soon as we have an update, we will let you all know.

[murraypaul]

we gave them our Money to build neptunes, but they used it to build worlds bigges mining rig for them self.
this is clearly breaking a contract, so this is a scam for the law.

No it isn't.
You've agreed to give them money.
They've agreed to give you a Neptune at the end of Q2.
You have no control over what they do with your money in the meantime.

[murraypaul]

You need to read between the lines, the wording is carefully chosen.
Look at the underlined part, as they only said Q1/Q2 delivery they won't be late until July 1st.

I have to contradict here in terms of Batch 1 (CA Batch) & Batch 2 -

Batch 1 ToS state: Q1/Q2 but delivery 3-4 weeks before batch 2 which equals delay = 1st July -3/4 weeks
Batch 2 ToS state: Delivery one month before batch 3 which equals delay= 1st July - roughly 2 month (for batch 1)
Batch 3 ToS state: Delivery Q 2

Not much space for interpretation here. Batch 1 hashing has to start latest around early May to satisfy the ToS of all batches 1-3.

My interpretation:
Batch 1 delivered 1st July.
Batch 2 delivered 3-4 weeks later, but with compensatory cloud hashing from 1st July.
Batch 3 delivered 1 month later, but with compensatory cloud hashing from 1st July.

Batch 1 customers are delivered on time.
They just say to batch 2 and 3 customers "Yes, we were late, but it didn't affect you, because we gave you free hashing to match"

From middle to end of June, your machines will be 'in production', and unable to be refunded.

[murraypaul]

My interpretation:
Batch 1 delivered 1st July.
Batch 2 delivered 3-4 weeks later, but with compensatory cloud hashing from 1st July.
Batch 3 delivered 1 month later, but with compensatory cloud hashing from 1st July.

And this quite neatly:
a) Provides no advanced hashing benefit at all to batch 1 customers.
b) Depending on the exact wording, may not break any of the vague promises they have made, as they won't be 'delivering' or 'selling' any Neptunes to any other customers on 1st July.

[The Avenger]

You have no control over what they do with your money in the meantime.

What?

If I gave money to a stockbroker to invest in a financial product and he spent it all on hookers and blow, that would be a felony.

If people have provided money to a company to build bitcoin miners and they are using that to build themselves a fucking datacentre, that would be a _______

The lawless are out in force today!

My interpretation:
Batch 1 delivered 1st July.
Batch 2 delivered 3-4 weeks later, but with compensatory cloud hashing from 1st July.
Batch 3 delivered 1 month later, but with compensatory cloud hashing from 1st July.
...

BS.

The cloud "compensation" won't start until it's due.

Yes, it should start for Batch 1 on 1st July.

But it won't start for the people promised delivery 3-4 weeks later - UNTIL 4 WEEKS LATER (beginning of August). etc

You think knc are going to give away free hashing before it's due?

LOL. You don't know knc very well. Same company who break their own T&C's by forcing customers to pay the shipping costs to ship faulty goods back to Sweden, to save themselves a few bucks.

[jelin1984]

the reason that like knc said
does not option for pick up nepture

is because nepture will be at knc data center at sweden

[raskul]

...they can easily make one themselve?

ROFL. if it was the case that KNC could 'easily make' the 20nm chips they need, you would have had your neptune by now, would you not?

[dplusf]

Back at the end of november i remember :-) that i wasnt able to pay the neptune due to spending exessive amounts of money in bitmine's coincrafts. Regardless of yet not having coincrafts mining, i am happy that my money is not stuck in sweden for some planet in a datacenter. the datacenter they build with money for neptune's.

knc have lost all credibility in my opinion.

[soy]

I've had one refunded, one on order.  That's the easy "get out" anyone can take.
I still don't have an issue with how things are progressing, and my lack of posting doesn't reflect my experience or understanding of things.
They are simply making the best commercial decisions.  If you want charity, donate at the link in my sig.
If you want a capitalist free market economy and private enterprise making the best commercial decisions for success.....

So refunds don't get any kind of fincen hassle?  I don't quite understand what the $10k fincen limit encompasses.  Isn't it more than just bank accounts but foreign assets as well?  Would a 13k miner account be an asset on foreign soil? (for the US users here).

[ElGabo]

I was a happy customer.

I'm out....

 

[CoinChex]

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

[2tights]

I've seen enough... Good luck to you all.

I'm done with this KnC charade and refunding my order.

[2tights]

I was a happy customer.

I'm out....

 

My sentiments exactly. It's a shame they compromised their values and principles by changing the structure of their business to serve a different master.

[wasubii]

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

Despite the fact the 5% promise is still in the FAQs on the website, i suspect KnC no longer feel bound to it.

Anyway, if they want to be tricky and still stick with the 5% promise, they can just sell 10PH to Byteminer - a CUSTOMER of KnC - with favourable terms for leasing back hash-rate for their 'Plan-B'

It would go something like this:

KnC: "OHAI Byteminer - i hear you want to buy loads of cheap 28nm miners!?"

Byteminer: "oh yes please, person whom I have never met before and who definitely isn't a shareholder in Byteminer" *wink*

KnC: "Well you know i have this pesky 5% limit on my own hash, but look at all these 28nm miners i have lying around. So how about we sell you a metric fuckload of 28nm miners for a bargain basement price, and you guarantee we can borrow some hash in July for our Neptune suckers *cough cough* i mean valued customers"

*both giggle*

Byteminer: "Well jees, that sounds swell - by the way, what kind of champagne do you think we should serve at the byteminer shareholders meeting? You bring the cheese ok? And don't forget to invite Mum and Dad"

[ElGabo]

I was a happy customer.

I'm out....

 

My sentiments exactly. It's a shame they compromised their values and principles by changing the structure of their business to serve a different master.

Exactly