Swedish ASIC miner company kncminer.com

[Guy Corem]

hilarious so you admit that it doesn't make sense for customers to pay for hosting/cloud hashing in Israel but you'll sell it at a profit anyway

We don't profit from it. It enable us to sell more miners. Check electricity price in Israel, VAT (on US) and do the math.

I don't see any options on your website to order/pay for miners to run from a DC? How does it happen?

Indeed, too much posts on this thread. Back to ours. We've published the price today. The web site is being updated. April batch can contact us.
Please continue your questions on our thread.

[The Avenger]

hilarious so you admit that it doesn't make sense for customers to pay for hosting/cloud hashing in Israel but you'll sell it at a profit anyway

We don't profit from it. It enable us to sell more miners. Check electricity price in Israel, VAT (on US) and do the math.

I don't see any options on your website to order/pay for miners to run from a DC? How does it happen?

Indeed, too much posts on this thread. Back to ours. We've published the price today. The web site is being updated. April batch can contact us.
Please continue your questions on our thread.

Come and visit our state of the art DC in Israel. It contains nothing, as we have not offered the service to anyone yet. But you can look at our efficient non-existent racks of miners and see how cool they run. No private farm, just racks of machines you can look at that don't actually exist.

[Biodom]

Can't wait to receive double the order i made with so many refunds (won't happen, but i like to dream)

I wonder what is the current refund rate? It was ~25% after the first wave (judging by the size of the "second part" of batch 2) and now probably at least 40%, but would not be surprised if it becomes 60-65% if BTC stays at ~400-450. 20-25% will probably never refund, no matter what the price is.
Neptune got a perfect storm surging against it (the opposite of luck with jupiter)=BTC going from $1200 to $400, while difficulty went from 700mil to current 5000 mil, showing that some financiers/VCs thesis that price has to follow difficulty has no bearing on reality (at least in both short and medium term).
My early batch 1 order will probably be among CA batch timewise if I decide to keep it against my better judgement.
 

[rograz]

How is that data center up in Norrland looking now KNC? I hope your overhead isn't to steep! 2-3k$/Jupiter much start looking good just about now instead of waiting for uncertain profits ;P

[The Avenger]

How is that data center up in Norrland looking now KNC? I hope your overhead isn't to steep! 2-3k$/Jupiter much start looking good just about now instead of waiting for uncertain profits ;P

They are projecting

http://translate.google.co.uk/translate?hl=en&sl=sv&u=http://www.va.se/case/de-digitala-guldgravarna-626597

"When the mine in the north is fully operational it will generate approximately $ 1 million in revenue," said Sam Cole.

Over what period?

"Per day."

[Biodom]

How is that data center up in Norrland looking now KNC? I hope your overhead isn't to steep! 2-3k$/Jupiter much start looking good just about now instead of waiting for uncertain profits ;P

They are projecting

http://translate.google.co.uk/translate?hl=en&sl=sv&u=http://www.va.se/case/de-digitala-guldgravarna-626597

"When the mine in the north is fully operational it will generate approximately $ 1 million in revenue," said Sam Cole.

Over what period?

"Per day."

Wishful thinking. $1mil a day at these prices=~63% of all mining (total current output is $1.584mil/day).
There will be $0-1 price immediately afterwards and then the farm will close.
If they are smart, they will not get above 33-39% or ~0.5mil a day at todays prices.

EDIT: yep, they interviewed on Feb 28 when price was ~600-650, hence they are aiming at 42-45% of ALL mining

[dogie]

How is that data center up in Norrland looking now KNC? I hope your overhead isn't to steep! 2-3k$/Jupiter much start looking good just about now instead of waiting for uncertain profits ;P

They are projecting

http://translate.google.co.uk/translate?hl=en&sl=sv&u=http://www.va.se/case/de-digitala-guldgravarna-626597

"When the mine in the north is fully operational it will generate approximately $ 1 million in revenue," said Sam Cole.

Over what period?

"Per day."

Wishful thinking. $1mil a day at these prices=~63% of all mining (total current output is $1.584mil/day).
There will be $0-1 price immediately afterwards and then the farm will close.
If they are smart, they will not get above 33-39% or ~0.5mil a day at todays prices.

EDIT: yep, they interviewed on Feb 28 when price was ~600-650, hence they are aiming at 42-45% of ALL mining

That doesn't take into account that if their farm is 42-45% of all mining, it has then increased the network significantly so their actual share is less (or they want to deploy even more).

[davebodger]

IMHO putting 30 Spooners in one rack is a non-starter.
Because of the heat density you would have to spread them amongst racks.
Most ordinary racks can not dissipate more than about 10KW with the doors closed without some serious (i.e. expensive) cooling solurtion (water cooling, sealed hot/cold aisle, high volume air flow, etc.).
Also, most data centres are not designed to handle that kind of spot heat output (I worked in data centres for 36 years).
Sorry, big generalisation here as I do not know your precise circumstances, but when I watched their video when they said you could put 30 in one rack I split my sides laughing. 

You're welcome to visit our state of the art DC in Israel. No water cooling, very efficient air cooling.

Thanks for the offer but I don't think I can take you up on it this year (I would like to because that's what I spent most of my life doing, auditing DC's, it's almost like a hobby of mine now).
I'm sure you have a nice new "state of the art" DC but my point was that most are not.
I worked in a DC with 1.3 PUE, it was in Scotland. It was designed to 1.5KW/m2.
Credits to you running that PUE in Israel, where I imagine the average temperature is somewhat higher.
But you have mountains there so perhaps you could locate it at a cooler altitude?
Anyway, 30 of your SP10 units in a 45U rack would output ~36KW.
Even removing the doors and using a sealed hot/cold aisle with high-volume chilled air input you must be seeing exhaust temperatures in the 80C range.
And what's the benefit?
Most DC's are not that short of floor space.
You would run out of power input capacity at that power density before you ran out of floor space.
Nobody designs to 12KW/m2.
(IMHO).

[joeventura]

The party is about over boys and girls.

BTC is $422 USD

Every week is new bad news.

Silk Road

Gox

KNC screwing you over

US makes Bitcoin Property

China

There will be new bad news every week and Bitcoin will be down to $100 in 60 days if this continues.


Question is why would you not refund every single order you have pending where ever a refund was possible?


Any other insightful predictions ya need from me?

Going to mine 24-25 BTC with your KNC Neptune? If not than you are screwed because you paid 10 grand for it.

Each bit of bad news kills BTC by $100

3 more bad stories and we are at $100

5 more stories and its over BTC will be at $10, All companies will close, bankruptcy everywhere.
Difficulty too high on a currency worth $10. Game over.

[arousedrhino]

What interpetation we have to give at Q1/Q2 promised delivering ? Depends on meaning of "/" in Q1/Q2. What interpretation to give? In fact, it is entirely plausible That "/" means that the Neptune is delivered between the last days of March and early April. Knc should be more careful in writing the terms of the contract.

from wikipedia : http://en.wikipedia.org/wiki/Slash_(punctuation)#In_English_text

The slash is most commonly used as the word substitute for "or" which indicates a choice (often mutually-exclusive) is present.

They obviously meant "or", i.e. "Neptune will ship in either Q1 or Q2." They did that to dupe people into believing that Q1 was a possibility. They were never going to ship in Q1, but they wanted people to think they would, without flat out lying about delivery dates. It worked. Tons of people ordered believing in a false Q1 ship date.

In this case interpretation of "/" is to intend in this way: Knc promised us to ship all miners in the period starting from q1 to q2. But the did not shipped anything in q1. They broke their promises. They have to refund us (if we want)  not only in dollars, but also in BTC

They said Q1/Q2 which means Q1 or Q2 they never promised to ship in Q1 it was an or. Based on past experience end of Q2 is the expectation since thats the last valid day.

Your interpretation of Q1/Q2 seems to be on purpose. Did you really think it meant they knew they would be shipping the miner between Q1 and Q2? There is no between quarters, they end one day and the next one starts immediately the day after so your slash idea is not plausible its ridiculous. If they said Q1/Q3 you would have a point but they said Q1/Q2 which are consecutive quarters, there is no gap between them.

They broke no promises, and if you really were confused about it why not email the company and ask?

[Biodom]

its getting harder by the day to hold fast.

but what else is there?

refund 10k, buy BTC at 400 and watch them keep dropping to 100?

its a catch 22 situation and these 'uberdatahall' guys are making it a whole lot worse with their greed!

if they have had the ability to give us our 3th over a month ago, the only excuse for not doing so is kleptomania....

i also wish to see BTC plummet to 0.01usd just to destroy these well-fed clowns.

but then i also have BTC i dont want to be worthless....obviously!

catch 22 - rock & a hard place - darlin' u've got to let me know....should i cool it or

Refund the miner and enjoy your cash. Have cash, some miner, BTC, lTC, stocks, RE, whatever. I felt much better after I refunded the second miner (still clinging to one-just stupid curiosity). However, I realize one thing today-we are competitors to Sam Cole, not really customers anymore, so he is gently prodding us toward the exit. He wants KnC to become a bank with focus on Africa (no kidding).

[je1p7u7]

The party is about over boys and girls.

BTC is $422 USD

Every week is new bad news.

Silk Road

Gox

KNC screwing you over

US makes Bitcoin Property

China

There will be new bad news every week and Bitcoin will be down to $100 in 60 days if this continues.


Question is why would you not refund every single order you have pending where ever a refund was possible?


Any other insightful predictions ya need from me?

Going to mine 24-25 BTC with your KNC Neptune? If not than you are screwed because you paid 10 grand for it.

Each bit of bad news kills BTC by $100

3 more bad stories and we are at $100

5 more stories and its over BTC will be at $10, All companies will close, bankruptcy everywhere.
Difficulty too high on a currency worth $10. Game over.

The beautiful thing is that BTC gets stronger when the price goes down after a high since it becomes less profitible to create large mining operations and that works toward better distribution of hashing.  I'm glad that the technical foundations of bitcoin are still undefeated and that sends a good message for long term growth. I always felt that a price above 600 is short term anyway. I think we all got carried away by our visions of riches. My precious...

[raskul]

The beautiful thing is that BTC gets stronger when the price goes down after a high since it becomes less profitible to create large mining operations and that works toward better distribution of hashing.  I'm glad that the technical foundations of bitcoin are still undefeated and that sends a good message for long term growth. I always felt that a price above 600 is short term anyway. I think we all got carried away by our visions of riches. My precious...

This. A very sensible outlook. I'm relaying to myself, we have only had one block halving as yet. Even if these big players keep mining while the price continues to plummet, don't you think the first manufacturers out the traps with a rig upwards of 10TH+ aren't going to be able to sell them? As i've previously pointed out, 20nm is just a stepping stone to 16nm, and the h/w manufacturers who decided to go with this intermediate tech will be the losers.
Bitcoin is an enthusiasts game, not a trader's business. Traders and mass farms will leave us because of their early greed and the network will again become spread. chill the beans, get your refund, take a holiday and comeback later - or if you must continue hashing, get something a bit more viable.
Even piggyback mining is now cheaper; price-for-price, than a KnC Neptune - I think it's been already pointed out.

[sickpig]

The party is about over boys and girls.

BTC is $422 USD

Every week is new bad news.

Silk Road

Gox

KNC screwing you over

US makes Bitcoin Property

China

There will be new bad news every week and Bitcoin will be down to $100 in 60 days if this continues.


Question is why would you not refund every single order you have pending where ever a refund was possible?


Any other insightful predictions ya need from me?

Going to mine 24-25 BTC with your KNC Neptune? If not than you are screwed because you paid 10 grand for it.

Each bit of bad news kills BTC by $100

3 more bad stories and we are at $100

5 more stories and its over BTC will be at $10, All companies will close, bankruptcy everywhere.
Difficulty too high on a currency worth $10. Game over.

?

come on Joe, you should have known better.

the latter part of your post in particular seems plain FUD.

[erskPeter]

Hi, I just want to let everyone know that i got a refund for a big quantity of neptunes without any problem.

the old proposal is stil valid.

https://bitcointalk.org/index.php?topic=291141.msg5944363#msg5944363

Cheers

[DPoS]

Hi, I just want to let everyone know that i got a refund for a big quantity of neptunes without any problem.

the old proposal is stil valid.

https://bitcointalk.org/index.php?topic=291141.msg5944363#msg5944363

Cheers

of course.. they used free interest loans and built uberhall ..   KNC aren't crooks, they just cut rope on all their early supporters

[Crypto_Cumbrian]

Refund Requested.

That's me Out.

Reasons  (BTC down money better spent on buying BTC than Mining) at todays rate I can get about 26 BTC with my refund money.

To mine 26 BTC at 3TH/s it would take 86 Days at the current Diff rate with no diff change.

With no message on Shipping Dates or Delays in manufacturing , even if they Offered 4TH in the Cloud, it still does not calculate.

As Iron Maiden says  "Run to the Hills"

C_C

Money now in my Bank

Time-frame

Emailed KNC Monday at 15:00 GMT
Money in My Bank Thursday 08:00 GMT

C_C

[RoadStress]

its getting harder by the day to hold fast.

but what else is there?

refund 10k, buy BTC at 400 and watch them keep dropping to 100?

its a catch 22 situation and these 'uberdatahall' guys are making it a whole lot worse with their greed!

if they have had the ability to give us our 3th over a month ago, the only excuse for not doing so is kleptomania....

i also wish to see BTC plummet to 0.01usd just to destroy these well-fed clowns.

but then i also have BTC i dont want to be worthless....obviously!

catch 22 - rock & a hard place - darlin' u've got to let me know....should i cool it or

Refund the miner and enjoy your cash. Have cash, some miner, BTC, lTC, stocks, RE, whatever. I felt much better after I refunded the second miner (still clinging to one-just stupid curiosity). However, I realize one thing today-we are competitors to Sam Cole, not really customers anymore, so he is gently prodding us toward the exit. He wants KnC to become a bank with focus on Africa (no kidding).

Enjoying the cash now is the same thing as back when BTC was 800$ or back before ordering Neptune. It's the same cash then and now. The only question now is if it's worth refunding and getting more BTC than what BTC you paid for it, but what will you do with it except hold them?

[Xialla]

refunded.

[sickpig]

refunded.

didn't realize you had bought a neptun. I seem to remember you were quite skeptical, but maybe I'm wrong.