Swedish ASIC miner company kncminer.com

[s1gs3gv]

Get in? well if that was the case then I agree.

As an individual miner, whenever you are considering the purchase of new capital equipment like KNC or Spondoolies miners, you are essentially 'getting into' mining anew. The profitability estimates are the same ones you may have applied to your S1 or other miner.

[s1gs3gv]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

[vesperwillow]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

[s1gs3gv]

thanks for donating your money to my retirement tho..  lol scrypt coins hahaha

guys like you don't retire, they just become irrelevant and fade away.

[Vagnavs]

For those who went with a BTC refund. How long did it take?
Best regards

[BitcoinPappi]

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate --->

https://www.kncminer.com/news/news-87

[Epoch]

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

[samsonn25]

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

But isnt the bitcoin worth half the price now even thought you have 2x the amount of coins, is the same value.

[Zelek Uther]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

True for small transactions, however...

With Bitcoin at $1 it would be impossible to transfer $22 million in value, because there aren't enough bitcoins. The higher value bitcoin is in fiat, the larger a transaction can be.

Another example: a wealthy person wants to store $22 million or more of their wealth in bitcoin. Couldn't be done with bitcoin at $1. The higher value bitcoin is in fiat, the more wealth we can store in bitcoin.

Same thing for 22 million people each trying to store $1 of wealth in bitcoin.  Or 220 million people trying to store $0.1 of wealth in bitcoin, etc. Couldn't be done with bitcoin at $1.

The utility of bitcoin to the world as a whole rises as its fiat value per coin rises.  We need bitcoins to be worth a lot (say $100k to $1m+) per coin to be useful to the world's population because there are so few coins (only ever 21 million will be made).

[Epoch]

Batch 1 & 2 Customers get Free Neptune with their order doubling their hash rate.

Batch 1 & 2 customers who purchased with $900 bitcoins and refunded recently got double their BTC back.

But isnt the bitcoin worth half the price now even thought you have 2x the amount of coins, is the same value.

The same USD value, yes. But that is an narrow view. One could say the same thing about the value of a Neptune; When BTC was $900, a 3TH Neptune was worth $10k. Now with a $450 bitcoin, what do you think the value of that same Neptune is? Hint: it isn't $10k.

People that spent 10 BTC on a Neptune, got a 20 BTC refund, made a profit of 10 BTC. A 3TH Neptune would never mine 20 BTC in its lifetime. With KNC doubling the hashrate, though, it brings it back into profitability.

[sbfree]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

so we agree that bitcoin have value. Good.

now 12.5 million coins (give or take a few) for 6/7 billion earthlings = scarcity

according to the of economics, this makes bitcoin rare and therefore valuable. How valuable will depend on its ubiquity.

[xstr8guy]

Geez, who unleashed the troll?

[tertius993]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

There's truth to this. There's no "reason" bitcoin has to be valued high, it's just up to what folks are willing to pay for it. Folks are just gambling that the long term value is high.

so we agree that bitcoin have value. Good.

now 12.5 million coins (give or take a few) for 6/7 billion earthlings = scarcity

according to the of economics, this makes bitcoin rare and therefore valuable. How valuable will depend on its ubiquity.

Scarcity does not, by itself, mean something will be valuable.  It must also be desirable, and that is rather hard to predict.

[600watt]

I hate to be the one to break the news to you fellas, but bitcoin @ $1 is just as useful as bitcoin @ $400.

True for small transactions, however...

With Bitcoin at $1 it would be impossible to transfer $22 million in value, because there aren't enough bitcoins. The higher value bitcoin is in fiat, the larger a transaction can be.

Another example: a wealthy person wants to store $22 million or more of their wealth in bitcoin. Couldn't be done with bitcoin at $1. The higher value bitcoin is in fiat, the more wealth we can store in bitcoin.

Same thing for 22 million people each trying to store $1 of wealth in bitcoin.  Or 220 million people trying to store $0.1 of wealth in bitcoin, etc. Couldn't be done with bitcoin at $1.

The utility of bitcoin to the world as a whole rises as its fiat value per coin rises.  We need bitcoins to be worth a lot (say $100k to $1m+) per coin to be useful to the world's population because there are so few coins (only ever 21 million will be made).

well stated. many bitcoiners do not understand this and think that people who talk about btc price rising are greedy. adoption rate and price are connected.

[RoadStress]

This is the 10th business day and i still don't have my refund.

KNC PLEASE STOP HOLDING MY MONEY AND SEND ME MY ENTITLED REFUND!!!

[The Avenger]

Ha ha ha. Many people placed an order with KNC because they had a good track record last year.

With Frankenjup, KNC have destroyed their reputation. Now they are handing out free mining gear, after probably 95% of people have refunded. So what is that - 10 free rigs? Cheap bastards AND reputation in tatters.

http://www.myinstants.com/instant/the-simpsons-nelsons-ha-ha/

P.S. Don't forget KNC have said they are hoping to set up 2 more datorhall's, pretty much as soon as they can. So you'd have to assume they are waiting for Neptune to be ready and then they will build them asap. So those who don't think the difficulty will sky-rocket are fooling themselves. And those who get later batch Neptunes are screwed, regardless if you get one or two. I'd say things are getting desperate at KFC when they are offering free hardware. Please press the above button one more time

[Collider]

This is the 10th business day and i still don't have my refund.

KNC PLEASE STOP HOLDING MY MONEY AND SEND ME MY ENTITLED REFUND!!!

I bet you, they will release the funds quite soon after the sp30 groupbuy has ended. If anyone claims to receive the refund within an acceptable timeframe, everyone of their "customers" will desert them.

The Neptune isn´t too impressive, as it will probably not get better power efficiency than 0,8W/GH and in a 4 u formfactor.

[raskul]

Press release:

STOCKHOLM, DATE, 2014 — KnCMiner (https://www.kncminer.com/), the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes. This represents a $5,995 value and, perhaps more importantly, will provide KnCMiner’s most loyal customers with twice the hashing power they would have otherwise received with just one of these machines.

[The Avenger]

Press release:

STOCKHOLM, DATE, 2014 — KnCMiner (https://www.kncminer.com/), the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes. This represents a $5,995 value and, perhaps more importantly, will provide KnCMiner’s most loyal customers with twice the hashing power they would have otherwise received with just one of these ridiculously overpriced machines.

KNC fanboy

+ FTFY

[raskul]

Press release:

STOCKHOLM, DATE, 2014 — KnCMiner (https://www.kncminer.com/), the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes. This represents a $5,995 value and, perhaps more importantly, will provide KnCMiner’s most loyal customers with twice the hashing power they would have otherwise received with just one of these machines.

KNC fanboy

hehehe, you wish! just posting a press release.  
and for fear of being called a shill and a troll, I won't post that Spondoolies group buy (~6.5TH/s) is still $1k cheaper than the

$5,995 'value'

.

/s