Swedish ASIC miner company kncminer.com

[The Avenger]

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?

Yes

It's already answered in their newsletter and I mentioned it a few weeks ago.

"we will simply fill your wallets directly and you won’t have to worry about anything else"

Hell, they don't actually need any machines running - they can simply work out how much you are due for 3TH at difficulty in July (e.g. 0.0002BTC/day) and pay it to your wallet directly from their stash! One bitcoin will go a long way in July 2014!

If the datacentre video is anything to go by, they are mining the sh!t out of the network and going to use those coins to pay people directly to their "knc wallet", you won't get a choice which pool your hash power mines etc.

So let's say you're forced 6 month neptune cloud hashing contract earns you 6 bitcoin. They mined it already! You'll be getting coins they've mined since October last year.

So pretty much every penny they take will be pure profit and I assume this will be used to build a 20nm product sometime in 2014/2015. They've gambled all the Neptune customers money on datacentre(s), this is the plan to make that money back before anyone realises.

The Dukes of Moral Hazard

[1714865622]

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[1714865622]

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[1714865622]

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[ElGabo]

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?

Yes

It's already answered in their newsletter and I mentioned it a few weeks ago.

"we will simply fill your wallets directly and you won’t have to worry about anything else"

Hell, they don't actually need any machines running - they can simply work out how much you are due for 3TH at difficulty in July (e.g. 0.0002BTC/day) and pay it to your wallet directly from their stash! One bitcoin will go a long way in July 2014!

If the datacentre video is anything to go by, they are mining the sh!t out of the network and going to use those coins to pay people directly to their "knc wallet", you won't get a choice which pool your hash power mines etc.

So let's say you're forced 6 month neptune cloud hashing contract earns you 6 bitcoin. They mined it already! You'll be getting coins they've mined since October last year.

So pretty much every penny they take will be pure profit and I assume this will be used to build a 20nm product sometime in 2014/2015. They've gambled all the Neptune customers money on datacentre(s), this is the plan to make that money back before anyone realises.

The Dukes of Moral Hazard

Very clever!

I "respect" them as businessman. That's how business works. The strongest dog fucks...

But i'm not a knc customer anymore and f...k em all....

[Gator-hex]

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or they buy a nice house in Russia/South America.

[ElGabo]

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or the buy a nice house in Russia/South America.

Maybe at Siberia?

 

[bkminer]

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

This is why I got into mining, not an ROI... guess I'm a gadget geek 

[Biodom]

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or the buy a nice house in Russia/South America.

I would probably disagree on fraud. In some sense it is now irrelevant because they will certainly pre-mine a lot of BTC at datorhall before giving us anything. Getting 3th late in 2nd Q would be largely meaningless because of the difficulty increase caused by the datacenter/datorhall/"Death Star".

Is it ethical or even legal to injure your own customers?
Datorhall is at 1.8Th right now, which is ~7% of all network, therefore the current total mining income of Jupiter/Saturn customers was reduced 7% because of this buildup-this is for certain. The new data center already mined ~3000BTC in less than 3 wk.

Perhaps we are too harsh and KnC will deposit proportional BTC (datorhall income-expenses) for each Neptune+Jupiter customer.
If they do that-I would be amazed, but what is the chance of someone doing what is right and not the most profitable? You tell me  .

[Syke]

I can't find the source to KnC Wallet. Anyone have a link to it?

[merv77]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

[bkminer]

I will say one thing, the KnC webshop keeps your from ordering more than they have it seems where other companies do not...

[itod]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

Wait, it's closed source and you can only download and install executable application?

Who in their right mind would install that, instead of open-sourced and battle tested blockchain.info Android wallet?
https://github.com/blockchain/My-Wallet-Android
https://blockchain.info/wallet

It looks like KnC has trying to establish it's identity, floating between hardware manufacturer, software vendor and service provider (Datacenter). You can't be all things at once, even Google sold it's hardware manufacturing business (Motorola) to others.

[merv77]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

just noticed they also have this URL: http://www.kncwallet.com/

[Syke]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

I don't see a link to the sources. It is based on GPL sources, and thus must be made available.

[Searing]

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or they buy a nice house in Russia/South America.

yeah...but you notice the above applied to Butterfly labs when the federal trade commission types I and others contacted about not getting equip from BFL the response was "what are you talking about ...you got the equip in 11 months etc"

ie the laws say one thing but 'regulators' like cop's do the enforcement...this was true up and down the line from paypal exec committee to BBB (although they have no power)

so.....

same would apply here in the usa if what you say is true above

although I did hear that some people in the EU got $$$ back but not in the states

so I assume if KNC shows they can deliver 'equiv' hash rate in their Q1/Q2 timeline...their a*ss is covered assuming your scam accusations like bfl does are correct

my 2c worth

Searing

[edgar]

Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or they buy a nice house in Russia/South America.

This is the problem with scammers and their admirers, they think that deciving people is clever.

its not clever, its easy and its cuntish.

IE - only cunts do it



and fot those who asked -

 Feb 19 15:42

Hi,

10,253 USD had been sent from our bank account. You may need to talk to your bank and ask them to tell you the exchange rate they used.
Your bank may have also issued you a charge for converting USD to GBP. We cannot control the exchange rate that your bank uses.

Please let me know if you have any further questions.


i have contacted my bank and asked if they really charge so much for receiving/exchanging USD

[jelin1984]

what stategy must put better

LOAD BALANCE
OR

FAILOVER??/


 

[bizzyb]

what stategy must put better

LOAD BALANCE
OR

FAILOVER??/


 

Personally I "fail over".
Just your preference I guess.

[Ghrindy]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

I don't see a link to the sources. It is based on GPL sources, and thus must be made available.

It's based on Andreas Schildbach's android wallet:

from the faq: http://www.kncwallet.com/faq.htm

What is the KnC Wallet?
The KnC Wallet is based on the open souce Android Wallet from Andreas Schildbach and brings a new user experience and integration with the KnC Directory to make finding your Bitcoin contacts simple and easy.

Is it secure?
The core elements of the KnC Wallet are based on the Android Wallet that has been downloaded over 100K times. The code is open source and we believe that the application is secure.

Tricky sentence, but I guess "The code is open source" refers to Andreas code, and not KnCwallet.
(no reference found on github for kncwallet)

[matthewh3]

link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

Wait, it's closed source and you can only download and install executable application?

Who in their right mind would install that, instead of open-sourced and battle tested blockchain.info Android wallet?
https://github.com/blockchain/My-Wallet-Android
https://blockchain.info/wallet

It looks like KnC has trying to establish it's identity, floating between hardware manufacturer, software vendor and service provider (Datacenter). You can't be all things at once, even Google sold it's hardware manufacturing business (Motorola) to others.

OT, but Google kept all the Motorola paintents in the sale deal and basically only sold the brand name.

[Swiss_Love]

When they'll ship in your opinion? I have a 1° batch order 121xx.

[Searing]

When they'll ship in your opinion? I have a 1° batch order 121xx.

better be around april 1st or i'm out...(i know its doubtful i should pull my $$$ now)