Phoenix1969
Legendary
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Activity: 938
Merit: 1000
LIR DEV
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April 06, 2014, 08:39:17 PM |
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Found this post in the knc wallet thread....  Craziness! Seriously demented welfare move imho... but industrious. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Biodom
Legendary
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Activity: 3752
Merit: 3864
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April 06, 2014, 08:48:57 PM |
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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. It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE. It's only 360 btc or about $150k USD now. well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan". What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did. I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney. Remember Google-"don't be evil"? Ha! |
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ivanlabrie
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April 06, 2014, 09:38:29 PM |
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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. It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE. It's only 360 btc or about $150k USD now. well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan". What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did. I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney. Remember Google-"don't be evil"? Ha! Sadly the btc community needs a few henchmen...lol |
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joeventura
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April 07, 2014, 12:59:30 AM |
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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. It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE. It's only 360 btc or about $150k USD now. well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan". What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did. I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney. Remember Google-"don't be evil"? Ha! Sadly the btc community needs a few henchmen...lol Have we met? |
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Puppet
Legendary
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Activity: 980
Merit: 1040
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April 07, 2014, 06:11:54 AM |
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You do realize mask is before tapeout, right?
You got that wrong. Tape out means the design is sent to the mask manufacturer for validation and production. The mask set can only be made after tape out. |
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organofcorti
Donator
Legendary
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Activity: 2058
Merit: 1007
Poor impulse control.
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April 07, 2014, 06:35:39 AM
Last edit: April 07, 2014, 07:57:34 AM by organofcorti |
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well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? <snip> The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285. For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day. |
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WastedLTC
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April 07, 2014, 01:16:09 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. |
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pedrosoft
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April 07, 2014, 01:20:47 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. Could you please tell me how many days from "Refunded" to dollars in your bank account ?  |
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sikke
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April 07, 2014, 01:24:58 PM |
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well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? <snip> The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285. For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day. Those numbers look crazy. 40mil $ /month mining operation. That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny  https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZKNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years. huh. They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares. |
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WastedLTC
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April 07, 2014, 01:25:09 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. Could you please tell me how many days from "Refunded" to dollars in your bank account ? Like I said, I got BTC so it never made it to my bank account. From the request to the BTC received was 8 days. |
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Searing
Copper Member
Legendary
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Activity: 2898
Merit: 1464
Clueless!
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April 07, 2014, 01:26:16 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. interesting is this recent or do they do this for order of more then 2 units anyway ...curious? |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1464
Clueless!
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April 07, 2014, 01:30:54 PM |
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well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? <snip> The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285. For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day. Those numbers look crazy. 40mil $ /month mining operation. That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZKNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years. huh. imho they could have given us customers options on 20% of what they used in the farm to buy..with us promoting them as "fair" in an industry without fairness...not to mention refunds...they would have made more by making the bitcoin pie and their sales bigger then ..way bigger then the 20% they gave to us in modules on the jupiters etc...and with an honest announcement that they simply can't get the equip from chip to customer fast enough announced a decent virtual miner option with those facts and track record above......they would have been even larger/bigger and badder then they are now...hell i'd have virtually mined under that trust system...and promoted the hell out of them....but they took the short term gain vs long term gain...dropped the ball..but it would have been a fun ride imho Searing |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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RoadStress
Legendary
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Activity: 1904
Merit: 1007
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April 07, 2014, 01:32:20 PM |
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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases. KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down! |
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mtbitcoin
Legendary
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Activity: 876
Merit: 1000
Etherscan.io
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April 07, 2014, 02:15:29 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. Could you please tell me how many days from "Refunded" to dollars in your bank account ? About 7 days. The refund was dealt quickly and promptly, no issue there. And it appears that they are refunding BTC for multiple orders and USD for single orders Cheers |
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mtbitcoin
Legendary
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Activity: 876
Merit: 1000
Etherscan.io
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April 07, 2014, 02:18:04 PM |
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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases. KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down! I hear you.. I asked for a BTC refund also but was given USD as it was a single order... With no upcoming news I am contemplating refunding my remaining order also. At this rate with no sign of "Plan B" it almost looks like KNC is encouraging refunds (IMHO), for what reasons I do not know  |
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je1p7u7
Newbie
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Activity: 52
Merit: 0
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April 07, 2014, 02:36:59 PM |
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Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases. KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down! In case you wanted to sue them it would be difficult for them to prove in a court of law that they sent you a refund "on the blockchain". They have no other option than to send bank-document-verified transfers. |
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Biodom
Legendary
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Activity: 3752
Merit: 3864
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April 07, 2014, 02:59:18 PM |
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well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? <snip> The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285. For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day. Those numbers look crazy. 40mil $ /month mining operation. That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZKNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years. huh. They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares. $255K a day makes for ~$7.77 mil/average mo (30.5 days). Still, a nice 100 mil a year. |
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Biodom
Legendary
Offline
Activity: 3752
Merit: 3864
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April 07, 2014, 03:34:20 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. Could you please tell me how many days from "Refunded" to dollars in your bank account ? One |
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pedrosoft
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April 07, 2014, 03:36:06 PM |
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Anyone received a btc refund?
I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied. Could you please tell me how many days from "Refunded" to dollars in your bank account ? One Do you live in Europe ? |
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sikke
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April 07, 2014, 04:04:31 PM |
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well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting? <snip> The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285. For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day. Those numbers look crazy. 40mil $ /month mining operation. That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZKNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years. huh. They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares. $255K a day makes for ~$7.77 mil/average mo (30.5 days). Still, a nice 100 mil a year. Yes i picked up that they make 4285 btc per day when calculating. Ofc it was 13% of that. My mistake on numbers |
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