Swedish ASIC miner company kncminer.com

[Biffa]

But you do have a farm, just not clients units?
Don´t lie  

Again, the hosting capabilities that we have are intended for the hosted plans, which we are going to introduce shortly.

Which doesn't answer the question.

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

[Guy Corem]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

[Biffa]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

Perfectly, thank you.

Please understand, there have been a lot of people burned by vague wordings in the past on TOS, company promises etc. I wasn't attacking you just trying to get a specific clear response.

Although I also understand that one persons response in a forum is not company policy and that I personally won't hold you to it, there are some that might however

[Flashman]

SO you are KNC you have hashpower, it creates $x an hour, your customers can do math and will not buy it for more than $x an hour,
show me a business model where it makes more sense to sell it for $x minus a little to make it profitable for your customers vs. just keeping it all your self and making raw profit?

Well there's a lot of places in the world where electricity is an insane price per kilowatt hour. If KNC get a real good rate, then they can effectively "resell" the electricity to customers who are in expensive markets. Ergo, they will make a little bit more than mining for themselves, and the customers in $$$ electricity markets will make a little more, or break-even, considering the convenience factor, vs running a reasonably efficient miner in their locale.

I would guesstimate that anyone who is paying 15c or less per kilowatt hour will not find this worthwhile.

[joeventura]

SO you are KNC you have hashpower, it creates $x an hour, your customers can do math and will not buy it for more than $x an hour,
show me a business model where it makes more sense to sell it for $x minus a little to make it profitable for your customers vs. just keeping it all your self and making raw profit?

Well there's a lot of places in the world where electricity is an insane price per kilowatt hour. If KNC get a real good rate, then they can effectively "resell" the electricity to customers who are in expensive markets. Ergo, they will make a little bit more than mining for themselves, and the customers in $$$ electricity markets will make a little more, or break-even, considering the convenience factor, vs running a reasonably efficient miner in their locale.

I would guesstimate that anyone who is paying 15c or less per kilowatt hour will not find this worthwhile.

assuming they had plans to resell and assuming you knew what the business model looked like.

Just the bookkeeping costs to resell hash power for the difference in their electricity vs my electricity
rather than just filling their own pockets is a stretch that my imagination can't make.

[joeventura]

If they would sell that Boden hashpower at a decent rate, or fulfill orders with it...it would create a huge diff increase offset, and be a huge benefit to Neptune holders and the community as a whole, because it's already a part of the cloud, and would cause zero diff increase, yet at the same time offer a great deal. They do have the ability to turn it into a HUGE customer advantage in this way. I hope they "Do the right thing"
That would be HUGE imho, and may even happen.

SO you are KNC you have hashpower, it creates $x an hour, your customers can do math and will not buy it for more than $x an hour,
show me a business model where it makes more sense to sell it for $x minus a little to make it profitable for your customers vs. just keeping it all your self and making raw profit?

The KNCcloud is just there to appease you when Neptune comes in late, then they will go back to using it for their own profit, why are you expecting anything customer centric when their focus has clearly changed from that lonnnnng ago?

I think this is a bit naive tbh.....

J

Which part and why?  Step up and be heard.

[faetos]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

Where did your company's name come from?

[smooth]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

Where did your company's name come from?

google it

[AussieHash]

http://www.reddit.com/r/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/



Edit : Microsoft translation link http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/

(google translate)

Swedish KNC Miner, which sells servers for mining bitcoin, has pulled in more than half a billion kronor in revenue since its launch last summer.
This extended operations with a new server for the excavation of another virtual currency, litecoin - a launch that already generated SEK 27 million in revenue.

In mid-February, the Swedish IT company KNC Miner hit the headlines with the news that they would build one of the largest data centers in Constance. The company is therefore the second, after Facebook, Norrbotten who choose to build a giant data center.

An old helicopter hangar at 5,500 square feet is now starting to be filled with KNC Miners specially developed servers that devotes his days to "break" new bitcoin. The virtual currency is produced namely of advanced servers cracking algorithms.

"We are serving more than three million kronor a day to resell the bitcoin we break ourselves," said Sam Cole, founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm.

Besides producing and selling bitcoin feeds KNC Miner to develop, build and sell specialized servers called bitcoinbrytning. The best seller is called Jupiter, which is now being followed up with twice as powerful server Neptune.

"Since the company was founded in June 2013, we had revenues of $ 78 million (half a billion kronor)," said Sam Cole, with his roots in Britain.

On Wednesday, the company rolled out a new line of servers they call Titan. Unlike the company's other products, the Titan server is not focused on bitcoin, but on the other virtual currencies.

"Titan is our first server that focuses solely on scripts basse conditioned virtual currencies Litecoin" said Sam Cole, referring to the currency that is currently the second most popular after bitcoin.

The new servers have been selling like hot cakes. On one day have KNC Miner received over a thousand orders for Titan servers.

"We have confirmed revenues of $ 4.2 million (27 million kronor)," said Sam Cole.

In June it will be time for KNC Miner to close the books for their first year as a company. Sam Cole does not exclude in the first year will be a billion companies.

"We will have over 100 million dollars in revenue (640 million kronor) for KNC Miner Group in late June, I can say with confidence," he says.

KNC Miner AB is based in Stockholm but has all of its revenues in dollars. Even when the company will charge you in bitcoin is careful to immediately switch the virtual currency to U.S. dollars, according to Sam Cole, who founded the company along with three Swedes.

Behind KNC Miner is two companies: Kennemar and Cole (founded Sam Cole and Andreas Kennemar) and ORSoC (founded by Marcus Erlandsson and Michael Unnebäck).

Basically they're selling USD$466,000 worth of bitcoin per day.

Never mine with over 5% of what they sell to their customer base ?  Sounds like Neptune preorders will be BFL'd.

[Guy Corem]

[

Although I also understand that one persons response in a forum is not company policy and that I personally won't hold you to it, there are some that might however

It is the company policy. Save a screen capture.

[Guy Corem]

Spondooliesetech (1.4TH) shipping from stock @ ~1W/TH, ~$5,000

We're at 0.8-0.9W/TH range at the system level.
Read dogie review: https://bitcointalk.org/index.php?topic=525469.0
We're constantly improving our fw to get better results. We're getting above 1.5 TH/s with 25C ambient temperature.
Very slim machine, just 1.25U, suitable for rack mounting

[Nordman]

Seems to be "honest and decent" KNC firm decided to steal my money!
I made ​​a request for cancel order and refund. They told me that the money sent to me, after this ago more than 12 days, but the money to my account have not come. Now I ask them questions about where my money has already written several times, but no reply received, although previously they were always answered quickly. I'm shocked! Has anyone here had similar problems?
Sorry for my bad english.

[raskul]

Spondooliesetech (1.4TH) shipping from stock @ ~1W/TH, ~$5,000

We're ate 0.8-0.9W/TH range at the system level.
Read dogie review: https://bitcointalk.org/index.php?topic=525469.0
We're constantly improving our fw to get better results. We're getting above 1.5 TH/s with 25C ambient temperature.
Slime machine, just 1.25U, suitable for rack mounting

 
that is all.

LOL

[The Avenger]

So, what's the moral of the story?

We're all being fucked by a greedy bunch of lying bastards in Sweden?

It feels like yesterday

[Searing]

If they would sell that Boden hashpower at a decent rate, or fulfill orders with it...it would create a huge diff increase offset, and be a huge benefit to Neptune holders and the community as a whole, because it's already a part of the cloud, and would cause zero diff increase, yet at the same time offer a great deal. They do have the ability to turn it into a HUGE customer advantage in this way. I hope they "Do the right thing"
That would be HUGE imho, and may even happen.

SO you are KNC you have hashpower, it creates $x an hour, your customers can do math and will not buy it for more than $x an hour,
show me a business model where it makes more sense to sell it for $x minus a little to make it profitable for your customers vs. just keeping it all your self and making raw profit?

The KNCcloud is just there to appease you when Neptune comes in late, then they will go back to using it for their own profit, why are you expecting anything customer centric when their focus has clearly changed from that lonnnnng ago?

i agree this is most likely (but brave can hang on for refund a bit) but imho sometime in xmas the chip guys basically went to KNC in my view and said we can't make a chip at 20mm and get it to the customer in time enough for the diff change to make any real money..same thing for the 28mm...we can however go from chip design to a GH Farm fast enough to be ahead of the difficulty curve in that we make the chip and we make the equip at cost and we just pop it in....thus the horse change imho mid-stream.....now

er now..the question is do they 'cloud host" at a more modest rate then their competitors....fess up to the above on why they went virtual miner of some basis on the above theory? or do they just go for the mine like hell and go private

they could easily go private all up front costs we're paid by pre-orders compared to other asic firms i'd guess they have the most independence...ie no debt no angel investors to cut out the pie now

truth be  told if they sold the GH hosting as a 'real' virtual miner operation that someone could make $$$ at (not like some where customers take all the risk) they easily could be huge....the sheer novelty of a 'modest' return from a farm where the math made sense and both the corp and the user of the farm took some of the risk in a more proportional manner ..hell....they would be the biggest farm in the world for cloud hosting virtual mining "IF THEY ARE FAIR I MEAN REALLY FAIR ABOUT IT" top that off with little debt ....and chip design in the future from design to module....at cost...they would be a very very big deal

but again why do all that if you can just mine...announce you are out of the equip business for BTC at a user level annouce you are at a commercial cloud hosting level (if you got the bucks to buy in as an investor) and just keep the $$$ machine going

the only way my above (i can hear the yelling i agree) likely fantasy..is if they really really do want to be a "fair trade" kind of asic mnfg company.....

ie are they gonna go for style points over mass profit? (apple) or for mass profit and shortcuts (microsoft)

likely it is mircosoft

the above fantasy what if brought to you by Searing...for a future installment involving large well..er Swedish ladies and me being a bitcoin billionaire for saving Satoshi's life...stay tuned for installment two

(yeah i need a life the above is a fairy tale....sigh)

Searing
 

[Biodom]

If they are selling $466000 in bitcoin/day, it means that they have ~20-23% of the whole network assuming $555-620/BTC during his interview.
I guess that their attitude is-we can do whatever we want with your money and now we don't even need your money.

[RoadStress]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

Thank you for your straight and hopefully true answer.

[Biodom]

Do you have a private mine with your own equipment, built for your mine for you and your company and its Venture Capital investors?

We currently don't have a farm. Our data center is solely for hosting our customers units.
We don't have plan to have a farm during 2014.
We want to concentrate on building and selling the best mining machines, not operate farms.
Clear enough ?

Thank you for your straight and hopefully true answer.

It is all BS, don't believe a word any of hardware companies or exchanges are saying. Just look at it run from $2 to $1000 while people in the know knew that they (MtGox) were insolvent (much worse than Lehman in its audacity), all companies involved are BS-all of them.

I am starting to come to a conclusion that there is no single trustworthy company in this space, it is all a con game or lies, lies and more lies.
I am about to be done with this. Will keep my ants for a few months and some btc in cold storage on a remote chance that it would be worth something in 10 years.

[RenHoek]

http://www.reddit.com/r/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/

(google translate)

Swedish KNC Miner, which sells servers for mining bitcoin, has pulled in more than half a billion kronor in revenue since its launch last summer.
This extended operations with a new server for the excavation of another virtual currency, litecoin - a launch that already generated SEK 27 million in revenue.

In mid-February, the Swedish IT company KNC Miner hit the headlines with the news that they would build one of the largest data centers in Constance. The company is therefore the second, after Facebook, Norrbotten who choose to build a giant data center.

An old helicopter hangar at 5,500 square feet is now starting to be filled with KNC Miners specially developed servers that devotes his days to "break" new bitcoin. The virtual currency is produced namely of advanced servers cracking algorithms.

"We are serving more than three million kronor a day to resell the bitcoin we break ourselves," said Sam Cole, founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm.

Besides producing and selling bitcoin feeds KNC Miner to develop, build and sell specialized servers called bitcoinbrytning. The best seller is called Jupiter, which is now being followed up with twice as powerful server Neptune.

"Since the company was founded in June 2013, we had revenues of $ 78 million (half a billion kronor)," said Sam Cole, with his roots in Britain.

On Wednesday, the company rolled out a new line of servers they call Titan. Unlike the company's other products, the Titan server is not focused on bitcoin, but on the other virtual currencies.

"Titan is our first server that focuses solely on scripts basse conditioned virtual currencies Litecoin" said Sam Cole, referring to the currency that is currently the second most popular after bitcoin.

The new servers have been selling like hot cakes. On one day have KNC Miner received over a thousand orders for Titan servers.

"We have confirmed revenues of $ 4.2 million (27 million kronor)," said Sam Cole.

In June it will be time for KNC Miner to close the books for their first year as a company. Sam Cole does not exclude in the first year will be a billion companies.

"We will have over 100 million dollars in revenue (640 million kronor) for KNC Miner Group in late June, I can say with confidence," he says.

KNC Miner AB is based in Stockholm but has all of its revenues in dollars. Even when the company will charge you in bitcoin is careful to immediately switch the virtual currency to U.S. dollars, according to Sam Cole, who founded the company along with three Swedes.

Behind KNC Miner is two companies: Kennemar and Cole (founded Sam Cole and Andreas Kennemar) and ORSoC (founded by Marcus Erlandsson and Michael Unnebäck).

Basically they're selling USD$466,000 worth of bitcoin per day.

Never mine with over 5% of what they sell to their customer base ?  Sounds like Neptune preorders will be BFL'd.

This all is a lie. That miners are only for Plan B. To safe our Investments!!!  

[lemonte]

Regardless of the above, from looking on their forums it appears that Plan B will likely not happen now. No official word though, so take it all with a pinch of salt.