Swedish ASIC miner company kncminer.com

[CYPER]

I played with mining.thegenesisblock.com calculator
The only way this would be profitable in $$ terms (forget about bitcoin!) would be if bitcoin price rise to at least $1500 and mining starts in April or price to $2500 and mining in May or price to $4000 and mining starts in June. All of this with 72% difficulty rise in a month that we are currently at (for the last 3mo on average).

If you peek at the projected difficulty in 2017 you would see that the total surface of the earth would not be enough for all the chips needed for that difficulty  

I pity highschoolers who have to call others names in order to make a point.
That said,  three months projection is NOT a 3 year projection, duh!
70-80% monthly projection made 3 months ago by the referenced site turned out to be pretty accurate, but go ahead, make a better one....crickets.

that genesis block calc is garbage

Not perfect by any means, but gives rough estimates for 2-3 months plus it is easier to compare different machines. You can adjust difficulty rise manually as well.
I get it that it cannot adjust difficulty at varied % going forward, but as a short term tool it is OK-gave approximately correct projections for Feb14 in Nov13.
I tried several other calculators-they all work to some degree-coinplorer and bitcoinx.com being probably the best.

Let me help you here with possibly the most realistic calculator: http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

[RenHoek]

it seems, u guys are going to Crash btc, to show KNC where the frog has his curls!?   Nice work!

[DPoS]

What do you think you are saying???

This system doesn't work if people can only use it to move small amounts of money. Nobody will care about it at all at $10. Wanting the price of bitcoin to crash to ten dollars and end the entire crypto industry because of some spiteful jealousy over what KNC and other large miners are doing is ridiculous. Don't forget, nobody will mine it at $10, and nobody will pay giant transaction fees, so the entire system dies.

BTC works fine at $100 or $10 you miss the point..  right now how many coins do you think are really in circulation anyway?  Only a fraction... so if more and more folks start to spend their coins instead of hoarding then the price will drop by a lot

You have the ~$800 price from churn and velocity of a fraction of coins right now..  I rather believe more use of the coin at a lower price is healthier for its life.. uber miners like KNC et all can choke on their insane diff pushing hashpower..  that arms race means nothing for btc's utility.. the same amount of blocks stays constant ya know

[wwwin]

I hope BTC goes down to $10 and stays there. Just for the lulz.

It would still perfectly fulfil its role of transferring money at $10 as it does at $1000

And KnC will be stuck with a white elephant in the arctic circle

So the total value of currency that could be transferred with bitcoin is 210 million? real smart. It actually DOESN'T perfectly work with that slight limitation.

so one person will have all the coins and do one transfer??  you understand that you can transfer 210 million with a handful of $10 BTC with churn & velocity?

What do you think you are saying???

This system doesn't work if people can only use it to move small amounts of money. Nobody will care about it at all at $10. Wanting the price of bitcoin to crash to ten dollars and end the entire crypto industry because of some spiteful jealousy over what KNC and other large miners are doing is ridiculous. Don't forget, nobody will mine it at $10, and nobody will pay giant transaction fees, so the entire system dies.

If nobody mines at $10 then the difficulty will decrease until people start mining in big numbers again...like Yogi Berra said, that restaurant is always so full that nobody goes there anymore.

[Searing]

No, I had 5 Neptune orders, and had refunded the two 13k (Gen Batch 1), and kept the 3 "CA Batch" Neptunes, which were sold  here in this thread to two members.  I got a single invoice, for the first neptune... "Out of the blue", no I did not ask for the invoice. It was meant to be informative in the possibility everyone who has the Neptune orders may get some invoices, that's all. An invoice is a receipt.(someone pm'd me not knowing)  I emailed them back asking about the other two orders, but since it's the very 1st Neptune, they probably haven't had time to do the rest yet. (It's like 11pm there also) Please don't read anything more or less into the statement. 5 pm's in as many minutes makes it difficult to share such a simple statement.... no worries tho.

well my unit 1st batch Neptune is like 10 or so down the line from your order number (from the knc order list) as an FYI to everyone I've gotten nothing like this ..yet?

I think you got an invoice if you asked...I can't remember it I did or not?

Searing

[Searing]

I played with mining.thegenesisblock.com calculator
The only way this would be profitable in $$ terms (forget about bitcoin!) would be if bitcoin price rise to at least $1500 and mining starts in April or price to $2500 and mining in May or price to $4000 and mining starts in June. All of this with 72% difficulty rise in a month that we are currently at (for the last 3mo on average).

yeah whatever you're view on knc motives..with the large farm..you got to admit they seem bullish on bitcoin.....nice to see it is nust not me er stu....er I mean enlightened enough to mine.....

(er that could also mean they are as 'clueless as me" dang just scared self)

Searing

[jelin1984]

how i can do manual settings my diff at jupiter at 512?

[AFox]

how i can do manual settings my diff at jupiter at 512?

This is done directly on the pool (on eliguis and bitminter you can).

[murmeln]

The news are in Swedish so use google translate.
It shows kncminer new location in an old helicopter hangar in Boden not Luleå.

http://www.idg.se/2.1085/1.545516/bitcoingravare-oppnar-gruva-i-boden
http://www.idg.se/2.1085/1.545367/helikopterhangar-blir-datahall-i-boden

First post on this forum.
Hello fellow miners!

[merv77]

thanks murmeln and welcome to the forum

are you a KNC customer?

[joeventura]

The news are in Swedish so use google translate.
It shows kncminer new location in an old helicopter hangar in Boden not Luleå.

http://www.idg.se/2.1085/1.545516/bitcoingravare-oppnar-gruva-i-boden
http://www.idg.se/2.1085/1.545367/helikopterhangar-blir-datahall-i-boden

First post on this forum.
Hello fellow miners!

+5 points for a good post by a new member.

Well done!

[murmeln]

I think this is the building https://maps.google.se/maps?q=Hangargr%C3%A4nd,+Boden&hl=sv&ie=UTF8&ll=65.807174,21.685778&spn=0.00277,0.010128&sll=57.700992,11.893836&sspn=0.459359,1.296387&oq=hangargr%C3%A4nd&t=h&hnear=Hangargr%C3%A4nd,+961+43+Boden&z=17

I have some Jupiters heating my house. Perfect temperature during Swedish winter now.  

[davewr2013]

What do you think you are saying???

This system doesn't work if people can only use it to move small amounts of money. Nobody will care about it at all at $10. Wanting the price of bitcoin to crash to ten dollars and end the entire crypto industry because of some spiteful jealousy over what KNC and other large miners are doing is ridiculous. Don't forget, nobody will mine it at $10, and nobody will pay giant transaction fees, so the entire system dies.

BTC works fine at $100 or $10 you miss the point..  right now how many coins do you think are really in circulation anyway?  Only a fraction... so if more and more folks start to spend their coins instead of hoarding then the price will drop by a lot

You have the ~$800 price from churn and velocity of a fraction of coins right now..  I rather believe more use of the coin at a lower price is healthier for its life.. uber miners like KNC et all can choke on their insane diff pushing hashpower..  that arms race means nothing for btc's utility.. the same amount of blocks stays constant ya know

Here are some math problems to amuse you...

For arguments sake consider only the USA -- since numbers are so easily available?

What is the US debt?  (About $17T ?).
What value would the BTC need to be to cover the US debt -- using only the amount in current circulation?
What value would the BTC need to be to cover the US debt if all BTC were available.

What BTC value would cover the current US GDP?

What BTC value would cover the value of all assets in the US.


Now repeat all the calculations for the European community and the Chines and the Japanese -- for example.

Heck, even do Canada and Australia in isolation.

GDP Numbers here:
http://data.worldbank.org/indicator/NY.GDP.MKTP.CD

If the BTC value won;t even handle Canadian economic activity -- is it of any value to anyone?


A BTC value of $10 makes it worthless as a substantive currency -- in anyone's book.

Do the math.

Cheers!

[davewr2013]

Here is another site to amuse people while they calculate:
http://www.economist.com/content/global_debt_clock

So if BTC cannot handle the smallest economy how will damaging KNC or lowering the price of BTC help anyone? Any idea?

[The Avenger]

The news are in Swedish so use google translate.
It shows kncminer new location in an old helicopter hangar in Boden not Luleå.

http://www.idg.se/2.1085/1.545516/bitcoingravare-oppnar-gruva-i-boden
http://www.idg.se/2.1085/1.545367/helikopterhangar-blir-datahall-i-boden

First post on this forum.
Hello fellow miners!

Great work murmeln!

The story only gets better.

Site characteristics
Former secure military industrial buildings now zoned for industrial and office use, with a concrete and steel structure, and a wall cladding of steel.

"All your bitcoin are belong to us - and will send some hellfire missiles after you if you come looking for an RMA" 

[The Avenger]

I think this is the building https://maps.google.se/maps?q=Hangargr%C3%A4nd,+Boden&hl=sv&ie=UTF8&ll=65.807174,21.685778&spn=0.00277,0.010128&sll=57.700992,11.893836&sspn=0.459359,1.296387&oq=hangargr%C3%A4nd&t=h&hnear=Hangargr%C3%A4nd,+961+43+Boden&z=17

I have some Jupiters heating my house. Perfect temperature during Swedish winter now.  

Woohoo!

https://maps.google.co.uk/maps?q=N65%C2%B048.200%27+E21%C2%B041.100%E2%80%99&hl=en&ie=UTF8&ll=65.806988,21.681727&spn=0.003641,0.033023&sll=53.800651,-4.064941&sspn=11.879031,33.815918&t=m&z=16&layer=c&cbll=65.806988,21.681727&panoid=rmqT3F2CPCDR-tJ4UZERHg&cbp=11,251.87,,0,-5.38

[vesperwillow]

TGB's 60 and 90 day estimates aren't garbage, they've done fairly well over the last few months. Back in September it was showing about a billion for January, and that wasn't far off.

So far, the people saying things like this are also the same people who got everything else wrong in this thread. Meanwhile myself, Avenger, and our non-english speaking friend, have had really great projections and speculation-come-true.

Bitcoin works well at $10 or $100? What does that matter? I'm sure it would work well at $1,000,000 also. Sounds like some folks are just upset and want hardware makers to suffer.

[The Avenger]

News just in:
http://www.globalsecuritymag.com/KnC-Miner-to-build-10-MW,20140206,42773.html

KnC Miner commenced building the facility only five days ago, but expects it to be fully operational already within the next few months. There are around 30 people working around the clock with the setup in order to ensure no time is wasted. KnC are also already in discussions with local authorities regarding the establishment of even larger facilities in the local area already later this spring, which would then bring even more business to the local community.

Man, I'd love to know how much they paid for it.

Edit: Answered my own question, sorta. They rent.
http://sverigesradio.se/sida/artikel.aspx?programid=98&artikel=5774907

Much of the establishment is still shrouded in mystery but Boden Councillor Bosse Strömbäck confirms that the municipality that owns the property now rents it out.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

[vesperwillow]

Man, I'd love to know how much they paid for it.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

Well, with the 36M/usd they took in, subtract 4M for the 20nm fab, then subtract about 1.5k per Neptune (buffered price), and you're left with 26.6M/usd. Not counting the amount they've mined.. they seem well off.

I wonder how well off most of their Batch 1/2 customers are, who have been clearly used as doormats and stepping stones.

[RoadStress]

News just in:
http://www.globalsecuritymag.com/KnC-Miner-to-build-10-MW,20140206,42773.html

KnC Miner commenced building the facility only five days ago, but expects it to be fully operational already within the next few months. There are around 30 people working around the clock with the setup in order to ensure no time is wasted. KnC are also already in discussions with local authorities regarding the establishment of even larger facilities in the local area already later this spring, which would then bring even more business to the local community.

Man, I'd love to know how much they paid for it.

And how much they are paying to have it fitted out + 30 people working 24/7.

And how many thousands of dollars they will have left to build neptune.

Neptune 2015!

10 MW @ 1W/GH = 10Th? 100TH? Seems fine by me with 100TH.