Swedish ASIC miner company kncminer.com

[DPoS]

If you bought bought a Jupiter in June 2013 ($7,131.80) to date you should have made 40+ btc at roughly 510 gh/s avg. I don't know where else in non BTC land that kind of ROI exist for the average person.

Ouch! Is it really that bad? Had you simply bought BTC you'd have 70+ BTC. That's nearly a -50% ROI.

depends when you got them.. if you got them after first week of Oct you made ~55BTC per Jupiter.. those lucky ones that got their miner a day or two at the beginning of Oct got about 7 more BTC

also, last summer using credit cards for miners was a huge deal since you couldn't buy btc easily that way (and without crazy fees of course)
so that was a great way to leverage up on a bet on price hike for bitcoin..   right now, the price isn't worth going leveraged up even if you could use credit on miners.

but to each their own on that speculation

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[tolip_wen]

What's the "SNMP community" and "SNMP managers" thing located in the Network tab from the new firmware?

I get 654W Power consumption from the Advanced tab. How many W for the rest of the stuff like coolers and controller board?

Unless you have SNMP management tools on your network somewhere you can ignore this.

SNMP = Simple Network Management Protocol

It is a general protocol for managing networked devices.


SNMP 'community' is like a password.
There can be a general community and a read and/or write community also

SNMP 'managers' ???not sure?? might be hosts allowed to connect or another way to say read and write community strings.

YMMV


EDIT: It is a natural progression IMneverHO, KnCMiner needs a way to control a whole DC with one tool.
SNMP is one choice of tool.

[bitdominion]

If you bought bought a Jupiter in June 2013 ($7,131.80) to date you should have made 40+ btc at roughly 510 gh/s avg. I don't know where else in non BTC land that kind of ROI exist for the average person.

Ouch! Is it really that bad? Had you simply bought BTC you'd have 70+ BTC. That's nearly a -50% ROI.

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

In hindsight it is always easier to say one wishes to purchase at any point in the timeline (preferably prior to 2010).
Return on investment isn't predicated on what you might have made otherwise we would all be at -2000% ROI.
**checked my numbers for BTC again it is 46 BTC

[bitdominion]

If you bought bought a Jupiter in June 2013 ($7,131.80) to date you should have made 40+ btc at roughly 510 gh/s avg. I don't know where else in non BTC land that kind of ROI exist for the average person.

Ouch! Is it really that bad? Had you simply bought BTC you'd have 70+ BTC. That's nearly a -50% ROI.

depends when you got them.. if you got them after first week of Oct you made ~55BTC per Jupiter.. those lucky ones that got their miner a day or two at the beginning of Oct got about 7 more BTC

also, last summer using credit cards for miners was a huge deal since you couldn't buy btc easily that way (and without crazy fees of course)
so that was a great way to leverage up on a bet on price hike for bitcoin..   right now, the price isn't worth going leveraged up even if you could use credit on miners.

but to each their own on that speculation

I agree with your sentiment and support diversifying the investment. The other benefit is supporting the network dilution, maintaining stability; there are enough opponents of bitcoin at least this line must be maintained.

[Syke]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

[DPoS]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

[Biomech]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

Yeah, and while those two categories are technically correct, there's hundreds of ways to purchase. One for every BTC/XXX trading pair, plus you can mine different things, cloud mining, coop mining, etcetera. Far too simplistic.

There is also the geek factor. Mining is interesting, so there is profit in that even if it's not as much MONETARY profit as just buying and holding.

[xstr8guy]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

Yeah, and while those two categories are technically correct, there's hundreds of ways to purchase. One for every BTC/XXX trading pair, plus you can mine different things, cloud mining, coop mining, etcetera. Far too simplistic.

There is also the geek factor. Mining is interesting, so there is profit in that even if it's not as much MONETARY profit as just buying and holding.

One thing "buy and holders" seem to forget... It is NO guarantee of profit.

I guess you could hold for 10 years but in 2024 those 100 bitcoin you bought in 2014 are still only worth 100 BTC in 2024 unless you sell them.  Sure, everyone would love for them to be worth $100k each in 10 years but what if they are worthless?

At least miners have fun generating NEW BTC.  Holding stale, old BTC just doesn't seem like much fun to me.

[Syke]

One thing "buy and holders" seem to forget... It is NO guarantee of profit.

I guess you could hold for 10 years but in 2024 those 100 bitcoin you bought in 2014 are still only worth 100 BTC in 2024 unless you sell them.  Sure, everyone would love for them to be worth $100k each in 10 years but what if they are worthless?

I'm pretty sure that 70 BTC will always be worth more than 45 BTC.

At least miners have fun generating NEW BTC.  Holding stale, old BTC just doesn't seem like much fun to me.

Then I have a deal for you! Send me 100 of your old BTC, and I'll send you back 50 brand new BTC. But wait, I can make it even more exciting! I'll send you up to 10 brand new BTC every month for 12 months. You'll never know how much BTC I'll send you! It's possible (but not guaranteed) that you'll end up with more BTC than you spent. Just imagine the excitement!

[Biomech]

One thing "buy and holders" seem to forget... It is NO guarantee of profit.

I guess you could hold for 10 years but in 2024 those 100 bitcoin you bought in 2014 are still only worth 100 BTC in 2024 unless you sell them.  Sure, everyone would love for them to be worth $100k each in 10 years but what if they are worthless?

I'm pretty sure that 70 BTC will always be worth more than 45 BTC.

At least miners have fun generating NEW BTC.  Holding stale, old BTC just doesn't seem like much fun to me.

Then I have a deal for you! Send me 100 of your old BTC, and I'll send you back 50 brand new BTC. But wait, I can make it even more exciting! I'll send you up to 10 brand new BTC every month for 12 months. You'll never know how much BTC I'll send you! It's possible (but not guaranteed) that you'll end up with more BTC than you spent. Just imagine the excitement!

Shouldn't this offer be here?

You'd probably get some takers

[bitdominion]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

This is exactly the question we asked ourselves when KnC first arrived on the scene... the price was too volatile to know what one would profit from it in the timeframe the miner would be running; Gox had just spiked from $38 - $260 then plummeted, then back to $140, then tapered off in a suicidal manner before adjusting to a (+) longer term trajectory. Our thinking was dropping $7k without knowing where the buyin leads was more risky than (could have been 70btc or 53btc) purchasing a miner which was a more predictable speculation (and we had already had success with)

Again this is hindsight and the question would hold very different meaning if any number of crazy things happened to the market in the interim

There are also stages of adoption some bitcoiners go through which factor into my learning experience:
'I believe this is going to be the best thing in the world!'
'Wait what about all this other technical stuff?'
'How do I get as much value as possible then turn it back into fiat currency?'
'Holy crap, I'm never day-trading again'
and finally 'Oh, so if I just hold it everything works out?'

[bitdominion]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

Yeah, and while those two categories are technically correct, there's hundreds of ways to purchase. One for every BTC/XXX trading pair, plus you can mine different things, cloud mining, coop mining, etcetera. Far too simplistic.

There is also the geek factor. Mining is interesting, so there is profit in that even if it's not as much MONETARY profit as just buying and holding.

Haha, Damn straight!
The reason for mining is not to make one wealthy but to support the network... Whenever I'm onboarding someone new, talking to a merchant etc they really want to know about mining. Always comes up because it's sexy; they usually give a sideways look and say 'what about mining?' but what they are really wondering is 'how do I print free money?'

[Searing]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

This is exactly the question we asked ourselves when KnC first arrived on the scene... the price was too volatile to know what one would profit from it in the timeframe the miner would be running; Gox had just spiked from $38 - $260 then plummeted, then back to $140, then tapered off in a suicidal manner before adjusting to a (+) longer term trajectory. Our thinking was dropping $7k without knowing where the buyin leads was more risky than (could have been 70btc or 53btc) purchasing a miner which was a more predictable speculation (and we had already had success with)

Again this is hindsight and the question would hold very different meaning if any number of crazy things happened to the market in the interim

There are also stages of adoption some bitcoiners go through which factor into my learning experience:
'I believe this is going to be the best thing in the world!'
'Wait what about all this other technical stuff?'
'How do I get as much value as possible then turn it back into fiat currency?'
'Holy crap, I'm never day-trading again'
and finally 'Oh, so if I just hold it everything works out?'

it is also a human nature thing...i as a noob and others learned enough in our noobieness stage to feel comfortable about getting a 'product' ie a physical miner to mine coin to an address .....dropping 7K for virtual coin to a virtual address was a bit too much of a leap i my noob days....(to be fair i thought knc unit would pay for itself at the then 400gh in like 8 or 9 months..and then i'd maybe get 9 months of utils paid on the house on it ..ie a hobby i think oct 18th when i got the unit it was like 150 usd a coin if i remember right..the next month or so it went to 1250 or whatever...so there is that aspect to this...)

so it was a hobby...now....i'm kinda at cross purposes...i should probably drop miners and buy but prob will keep one (hey imho of the depths of my silly mind......er what the heck) ..but probably i should dump the 2nd miner and just get coin

i suppose later in 20/20 hindsight i wll then have it beat into my head simply to buy coin...but again ...i'm a dull hairy silly primate..it takes a bit to pound stuff in my monkey brain...but then again 1 miner is still a toy to play with (hey coulda got a bass boat instead..its all good)

but again imho everyone buys some kinda miner 1st then they speculate....or at least everyone i knew as  a noob did this

Searing

[opentoe]

Upgraded to new 1.0 Firmware, my November Jupiter went from 669 GH to 683 GH without any tweaking. HW errors went from around 2% to 0.01%...

And we had to wait how many months for that to happen? We should of had this firmware a long time ago. A little too late.

[opentoe]

The app doesn't work on my USA phone.  I keep getting an error code, "Error sending SMS please try again (500)".  I rated the app a 1 star on the Play Store.


Edited to add.  I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? Is this another move to get their greedy little hands onto even more BTC? One day you'll notice all your BTC is gone and you'll have to fight to get it back. Stick with the Armory and you'll be safe. Have to question their intentions and motive on why they want their own program? How does it benefit them?

[Biodom]

I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?

I could think of several venues:

1. they will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.

[Billsonl]

I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?

I could think of several venues:

1. the will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.

Why would anyone use online, internet wallets, smart phone wallets, or keeping their BTC's online is asking for trouble.  If you do, you are at their (exchanges') dictatorship.  Look at Mtgox, BTC-E or any online wallet/exchanges.    Can't withdrawal BTC or cash means your BTC is worthless.  I keep a majority (of my BTC's) on my QT and transfer a few (into exchanges) just before I sell; in and out.

[rograz]

Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

Exactly, mining is a hedge vs bitcoin price since it has potential to be profitable in usd terms independent of if bitcoin is falling/rising/stagnant as long as your mining operation is competitive vs the rest of the network.

Personally I have only ever invested BTC into mining that I was going to convert into FIAT anyway. So then it became a question of investing into mining or holding fiat. Hence I was willing to take on the investment risk of mining rather than holding more BTC of which I had enough anyway.

[bitdominion]

I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?

I could think of several venues:

1. they will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.

I hope it would be for #4.
Likely it has to do with the reach into the mobile market for their new farm being built.

Could someone point me towards the link to their release article? Or did this beta just appear out of thin air?

[Phoenix1969]

Hmm, the KNC Wallet....
Mine btc/    btc to qt/     qt to PAPER wallet
I suppose you could actually mine straight to paper as well, but whenever you go to withdraw, you'd need a new wallet, not too bad
There is nothing safer than that way I think.....  

It's pretty easy to print a hundred wallets for future use.