Swedish ASIC miner company kncminer.com

[vesperwillow]

Planned to? More like there's 2 others already.. lol

KNCMiner.. where your new equipment, is our secondhand product.

[murraypaul]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

[Biodom]

Well, it looks like they already have the hashrate to cover batch 1a.  IMHO, batch 1a will be considered late in mid May.  As the final batch two was sold to be shipped in quarter two.  Batch 1b a month before that and batch 1a a few weeks before that.  So in IMO mid May is the latest they can leave it for batch 1a.

Batch 1a was listed as Q1/Q2.
It is late on July 1st.
Anything else is wishful thinking.

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately. I don't think that customers would tolerate anything else. Is it possible that they would first hash on massive power for themselves? Yes, it is possible, but would be wrong on so many levels-it is not even funny. They want to stay in business year after year-you cannot do that if you upset your customers. Hashing totally for themselves is super risky because it opens up for massive losses due to currency/BTC price fluctuation.

So, my prediction:
1. hashing for customers (batch 0) commences on March 15-March 30.
2. For batch 1-April 1-April 15 (or together with batch 0-one can dream, right?).
3. hashing power provided does not change much from 3th/s if BTC stays at current levels. At $400-500/BTC, I would expect them to bump the offer to 4th/s pr even 5ths/s, otherwise nobody in their sane mind would keep the purchase.

[pvnamk19]

I feel that 'Orama is just a puppet Director of Communications for KnC!? Poor for him and poor for us too.
Back to school/work girls and boys, Bitcoin is just a hobby.

[Biodom]

I feel that 'Orama is just a puppet Director of Communications for KnC!? Poor for him and poor for us too.
Back to school/work girls and boys, Bitcoin is just a hobby.

Right, especially after the nonsensical bickering between MtGox, Bitcoin Foundation and other exchanges. I thought that they would be out of beta testing at this point (5 years later).

[DPoS]

I don't think that customers would tolerate anything else.

wow this made me laugh in this market

[merv77]

seriously, waaah. calling someone greedy for doing exactly what you are doing, just bigger and better. Grow up. If you are jealous, do it bigger.

True. I will remember this!

hang on a minute it's not exactly like me and many others, because I never asked for pre-order money, I never promised a NPS, and I never promised to sell you any miners/upgrade modules.

I also don't like playing mind games.

[vesperwillow]

I disagree. If the farm is ready by mid March, then I would expect hashing for customers would start almost immediately.

I don't think that customers would tolerate anything else.

Tolerate? Were we going to cut their pay?

1. hashing for customers (batch 0) commences on March 15-March 30.
...
3. hashing power provided does not change much from 3th/s if BTC stays at current levels. At $400-500/BTC, I would expect them to bump the offer to 4th/s pr even 5ths/s, otherwise nobody in their sane mind would keep the purchase.

1. They already said this wouldn't happen regardless of anything else. Afterall, they want to mine for themselves.

3. Of course nobody sane should buy their products now.. just like nobody sane should buy BFL.. and yet people keep placing orders...

[joeventura]

You can watch the KNC farm grow here:


http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

[raskul]

You can watch the KNC farm grow here:


http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

this was a good round!!!

2014-02-13 05:00:19 (G)   4.91363961 BTC
2014-02-13 03:57:01 (S)   198.54159197 BTC
2014-02-12 00:06:12 (G)   23.50032965 BTC

[The Avenger]

You can watch the KNC farm grow here:


http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

They are just starting and already mining 5BTC every few hours - exactly how much a Neptune will mine in it's entire lifetime starting on 1st July 

[Biodom]

You can watch the KNC farm grow here:


http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

Impressive, but how reliable is the info that this is the New KNC datacenter.
If it is true, then this is some impressive sleuthing.

[DPoS]

You can watch the KNC farm grow here:


http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

They are just starting and already mining 5BTC every few hours - exactly how much a Neptune will mine in it's entire lifetime starting on 1st July 

every few hours???  better look at that again..much more frequent

[The Avenger]

You can watch the KNC farm grow here:

http://eligius.st/~wizkid057/newstats/userstats.php/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

They are just starting and already mining 5BTC every few hours - exactly how much a Neptune will mine in it's entire lifetime starting on 1st July  

every few hours???  better look at that again..much more frequent

Oh yeah, so it is.

I think this explains why they are taking 7-10 days to give BTC refunds - they have to mine them first   Then they essentially get to keep the money the customer paid and pass them some mined coins instead.

The major question in my mind is whether KNC are paying tax on their mining profits? If they aren't and they get audited by the Swedish taxman - that'll be the end of the bitcoin empire in the arctic circle.

[DPoS]

The major question in my mind is whether KNC are paying tax on their mining profits? If they aren't and they get audited by the Swedish taxman - that'll be the end of the bitcoin empire in the arctic circle.

I think the whole miner world would like to know how they will report (expenses, deductions...  cost basis...)

Did any major mining farm from last year post their own guidance?   It is still an area of much debate and specualtion

[The Avenger]

The major question in my mind is whether KNC are paying tax on their mining profits? If they aren't and they get audited by the Swedish taxman - that'll be the end of the bitcoin empire in the arctic circle.

I think the whole miner world would like to know how they will report (expenses, deductions...  cost basis...)

Did any major mining farm from last year post their own guidance?   It is still an area of much debate and specualtion

Googled. Funnily enough, this seemed to coincide quite neatly with when KNC suddenly decided to stop selling hardware to us:

http://www.bloomberg.com/news/2014-01-21/bitcoin-becomes-art-as-swedish-taxman-rejects-creative-currency.html

Swedish tax authority are treating bitcoin as assets.

So the tens if not hundreds of thousands of bitcoin KNC have mined already are to be taxed as assets, they probably owe multi-millions in tax. Hmm... another use for the Neptune pre-order money?

[DPoS]

The major question in my mind is whether KNC are paying tax on their mining profits? If they aren't and they get audited by the Swedish taxman - that'll be the end of the bitcoin empire in the arctic circle.

I think the whole miner world would like to know how they will report (expenses, deductions...  cost basis...)

Did any major mining farm from last year post their own guidance?   It is still an area of much debate and specualtion

Googled. Funnily enough, this seemed to coincide quite neatly with when KNC suddenly decided to stop selling hardware to us:

http://www.bloomberg.com/news/2014-01-21/bitcoin-becomes-art-as-swedish-taxman-rejects-creative-currency.html

Swedish tax authority are treating bitcoin as assets.

So the tens if not hundreds of thousands of bitcoin KNC have mined already are to be taxed as assets, they probably owe multi-millions in tax. Hmm... another use for the Neptune pre-order money?

and the miner question still looms large up there as well ...

"Swedish tax authorities are also looking into how to treat Bitcoin miners -- programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems. Wallin said the question is whether they should be taxed as businesses, a classification that would allow them to deduct some equipment from taxes.

The challenge remains tracking a new market whose size and scope can be hard to gauge, even for regulators.

“I don’t think there are that many,” Wallin said. “But they have been calling us for answers.”

[bronan]

I'm not done mining quite yet.  I'll keep all of my existing preorders, really just because I want to geek out on them.  But I'm done buying any new mining gear, preorder or in-hand.  I will continue to let my current gear run until they become unprofitable and then unplug them.  And then I'm done.

Ding!  +1

Best post in this thread for a super long time
I do not know how to scroll fast enough the enormous fud and muddy crap which is posted in between some post like these.
Ding Ding +10

[The Avenger]

Ooh, guy from Cloudhashing selling his Jupiters. Something afoot in the world of cloud hashing? 

http://www.ebay.com/itm/KNC-Jupiter-Bitcoin-Miner-550-GH-s-1YR-HOSTING-POWER-INCLUDED-/301095722210

[1Neptune]

I'm not done mining quite yet.  I'll keep all of my existing preorders, really just because I want to geek out on them.  But I'm done buying any new mining gear, preorder or in-hand.  I will continue to let my current gear run until they become unprofitable and then unplug them.  And then I'm done.

Ding!  +1

Best post in this thread for a super long time
I do not know how to scroll fast enough the enormous fud and muddy crap which is posted in between some post like these.
Ding Ding +10

GONG! * 3.14159265358^2

I'll keep mining until not profitable and that includes keeping my preorders, but not to just geek out on them as I want to make money (or as the Swedish tax authority says, art) from them. Done buying any new mining gear as well. After mining no longer profitable, arb is the new order of the days going forward.