Swedish ASIC miner company kncminer.com

[RenHoek]

Does Sweden allow class-action lawsuits? From what I understand, the Swedes can come down pretty hard on people for fraudulent claims, ie. "We will never mine with more the 5% of what we....Oh wait, welcome to the largest BTC mining farm in the world!

I haven't been paying attention for the past 300 pages, so I'm not sure if this has been discussed here.

let's sue them!

[Phoenix1969]

BTC goes to $10 and NO ONE can afford to mine because the difficulty is 5 billion

logical error.

if NO ONE can afford to mine, why should the difficulty stay at 5 billion?

if NO ONE can afford to mine, no one WILL mine. and if no one will mine difficulty goes down to 1.

logic ftw my friend.

And how long is that difficulty going to take to drop if it is at 5 billion and 75% off the hashrate disappears. Going to take a long time to the next retarget.

no worries. Will never happen
People will mine at a loss for months before giving up

A good example will be when Titan arrives... watch how long it takes GPU users to unplug....

Also...  New exchanges are popping up like daisies... PayPal launching a multi crypto wallet... Election time coming... BTC hedge funds are hitting Wall-street... BitCoin ATM's are delivering... Wells Fargo is preparing to enter the game...  and USA just issued tax guidelines(arguably a HUGE BONUS, and obviously needs tweaked)... and once small businesses figure out they don't even have to own a single coin to "accept them".... and save up to 5% on their bottom line; adaptation will grow rapidly.  Same goes for consumers, especially on large international purchases. Think what will happen when Isreal, Iran, or any oil country accepts coin for oil! It will happen. ... and this time around, no Henry Kissinger to convince oil countries to use USD.
This whole "Armageddon of doom" hype is nothing more than growing pains. It will pass, and BTC will eventually be worth thousands per coin.

[romang]

Any updates on shipment dates?

[Phoenix1969]

Any updates on shipment dates?

sure... less than 90 days to go till end of Q2.  That help?

Neptune orders at this point require blind trust and gobs of hope with not a peep on progress.
Guess it's clear....  they WANT people to refund. I feel like an abandoned stepchild.
Would it really hurt that much to get us an estimate?    It must.
They dazzled us with Plan "B", then less than 30 days later said Neptune is "on track", so it's anyone's guess.
Somewhere between today, and June 31st is too vague considering the newly added 25% tax on mining here.
The marginal estimates completely disappeared, and their consistent lack of Neptune updates lead to one action...
refunds... and they know that. So, the lack of an update is actually strong evidence they are hoping for more refunds...

*Evidence of absence isn't absence of evidence... quite the opposite.

Which also leads me to believe Neptune is actually going extremely well... i.e.  A 6+Th/s machine they can add to the Boden facility;
 and if they keep quiet....

It didn't take long for them to up the Titan estimates by 150%, just like Jupiter; they even told us the cores on Neptune went from 1000 to 1440, and that's still riding on the 3TH/s estimate? doubtful. That's 4.4 TH/s on an increase of cores alone. It will be a monster. The only question is WHEN WHEN WHEN UUuuuggghHHH !!!

[Mota]

Refunds are much better for them. This may be the only niche in the world where refunds are happily paid back...

[Flashman]

(i also asked for refund for my 1st Monarch, 1 Monarch order left)

That could have been a bad move, depending on order date if you're not up to speed on latest bonus plan.... but if tail end of the "full price" orders and at head of the reduced price orders, would maybe make sense.

[Phoenix1969]

hmm, If the PBOC were to utter that the "rumors" were....  rumors...
Their silence is odd in that way
I bet they have a team devoted to the next pump & dump propaganda, and where to start it, and by whom
.. or maybe confirmation of the rumors, shortly followed by the announcement the PBOC will be exchanging coin directly.
I can guarantee one thing: In the long run... China will not abandon Bitcoin, and sooner or later, those who "Banned" it will all be on board.
Hell, I'd even bet several government entities in several countries have jumped on developing and or buying asics secretly, including the Federal Reserve of USA. It's all a power/money-grab they are still working out the bugs on how to dominate a decentralized medium. Bitcoin and cryptos in general are the topic of many Governmental Hearings in many countries across the globe, all in a short time... ElectroCoin is sweeping the globe, and all the banks are scared, issuing warnings not to invest, while they figure out how to take advantage of it. It's only a matter of time now IMHO before its accepted globally by over 95% of the world. There will always be a stubborn one.

[padrino]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

[Phoenix1969]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Many times by several folks in here. Go open an account with a bank who has a swiftcode, no way around it.
Several of us, including myself, had to.

[jimmothy]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

[raskul]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

do you have any proof of this?

[Henchman24]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

I ran into the same issue trying to get my refund sent to my credit union.  I finally just opened a new account at a bank that could accept international wire transfers.   

[wpgdeez]

I had the same problem with my CU, so I had thought until my refund showed up yesterday

[jimmothy]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

do you have any proof of this?

Proof of them dumping coins? It was said in an interview.

Their datacenter is up to 6PH now.

[raskul]

Reaching out to those in the US that received refunds to a US bank.. I have been working to get one for a couple of weeks now with no luck..

My US bank is fairly large but they are US only so they do not have a SWIFT number but do receive international wires daily from SWIFT banks,  and I sent mine without any issues.

In any case KNC is telling me they cannot send my refund if my bank doesn't have a SWIFT code to give them, has anyone else run across this and if so how did you deal with it?

Thanks

Have you tried asking them for bitcoins instead?

I would assume they would give you some considering they are dumping a few hundred every day.

do you have any proof of this?

Proof of them dumping coins? It was said in an interview.

Their datacenter is up to 6PH now.

can you give us a link, i'd like to see that interview, please?

[jimmothy]

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/

[raskul]

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/

thanks

"" We are serving more than three million dollars 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. "

[Phoenix1969]

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/

thanks

"" We are serving more than three million dollars 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. "

Translated...

Photo: Jesper Frisk
Swedish KNC Miner , which sells servers for mining bitcoin , has pulled in more than half a billion 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 dollars 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 dollars) ," 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) ," 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) 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 ) .




Probably so then....

[RoadStress]

But dumping 100% of the mined coins is extremely stupid. Why would they do it? I don't buy it.

[Biodom]

http://www.di.se/artiklar/2014/3/20/drar-in-en-halv-miljard-pa-bitcoin/

thanks

"" We are serving more than three million dollars 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. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.