Swedish ASIC miner company kncminer.com

[Biodom]

My guess is that they already have the Neptunes and are upgradung their datahall first. Once they're done with that they'll ship out the rejects from the data hall to their serfs in late summer or fall. I don't think you'll see you Titaanics until Feb of next year. They'll be running them in their data hall first. Yeah, that's how they do ya and you know you like it.

Maybe too dire of a prediction, but I am now out of this monkey race...will keep my ants running until electricity cost=mining, then do pencil mod, then sell to some school project on ebay, probably for $50-100 later on (if they are still functional). I don't think spond or S2 makes sense at the current prices plus summer heat is coming. Will reconsider in Oct-Nov time frame. Thinking of selling out my refund for cash.

[1714131867]

1714131867

[1714131867]

1714131867

[raskul]

My guess is that they already have the Neptunes and are upgradung their datahall first. Once they're done with that they'll ship out the rejects from the data hall to their serfs in late summer or fall. I don't think you'll see you Titaanics until Feb of next year. They'll be running them in their data hall first. Yeah, that's how they do ya and you know you like it.

Maybe too dire of a prediction, but I am now out of this monkey race...will keep my ants running until electricity cost=mining, then do pencil mod, then sell to some school project on ebay, probably for $50-100 later on (if they are still functional). I don't think spond or S2 makes sense at the current prices plus summer heat is coming. Will reconsider in Oct-Nov time frame. Thinking of selling out my refund for cash.

i really don't see it as a monkey race Biodom, perhaps you wanna let it out exactly what causes the issue to arise. to me the way bitcoin is mined simplifies everything. sorry... i just don't see it the same way and the only minor grievance would indeed be summer temperatures, nothing more would stop me wanting to keep bringing currencies into the world  

enjoy.

[Phoenix1969]

Order 111xx requested a refund, bank details RE-submitted and accepted on the 23rd April...


BTC offered & not accepted, waiting for CASH


Although i'm now considering BTC just to get it over & done with

Asked for BTC refund on 28 April for a very early CA batch order. Emailed them every 2 days. This Monday they said, we will process your refund early week. Yesterday i wrote them, only answer. Sry you get your coins in afew days <----i mean WTF??

Wrote back that i cant take this serious, thats no answer! Respond was, sry cant tell you more, ask the manager but he will tell you the same.

I wrote now sam directly, i dont hope anything Still no refund or answer incoming!

It was stated about a month ago in an interview that they (KNC) are "very careful to Cash-out the coin they mine every day",
which means they only have the ability to do a small amount of btc refunds per day. because they do not "Hold" bitcoin, at all

It's easy to say they are speculating for the highest price point to base your BTC refund on, but we all read that interview,
and we all know what happens to repetitive emails from an unanswered address...   I've been thru the refund process three times now, and it's different every time... yeah one took a month.

[Biodom]

My guess is that they already have the Neptunes and are upgradung their datahall first. Once they're done with that they'll ship out the rejects from the data hall to their serfs in late summer or fall. I don't think you'll see you Titaanics until Feb of next year. They'll be running them in their data hall first. Yeah, that's how they do ya and you know you like it.

Maybe too dire of a prediction, but I am now out of this monkey race...will keep my ants running until electricity cost=mining, then do pencil mod, then sell to some school project on ebay, probably for $50-100 later on (if they are still functional). I don't think spond or S2 makes sense at the current prices plus summer heat is coming. Will reconsider in Oct-Nov time frame. Thinking of selling out my refund for cash.

i really don't see it as a monkey race Biodom, perhaps you wanna let it out exactly what causes the issue to arise. to me the way bitcoin is mined simplifies everything. sorry... i just don't see it the same way and the only minor grievance would indeed be summer temperatures, nothing more would stop me wanting to keep bringing currencies into the world  

enjoy.

Well, i contributed as well. Monkey race-more like russian roulette with manufacturers. If mining is a charity-5 s1 is enough. if mining is to make money-numbers don't pan out. If mining is an advanced hobby-I can only dedicate small amount of time to it.
My intention is to maintain some mining according to this formula:

Your current bitcoin holdings/21 mil coins=1/2-1/3X your hash rate/worlds hash rate.
1/2-1/3 coefficient is optional (or could x1/10), but it should be less or equal to 1 (unity), in my opinion, or you have NOTHING supporting your BTC.

[Phoenix1969]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

[raskul]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

yuk that's messy i hope they clean up the hotel rooms after their 'parties'

[Micky25]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

yuk that's messy i hope they clean up the hotel rooms after their 'parties'

Welcome to the League of Extraordinary Gentlemen!

From the ones they replace, one is in jail and the other will end there soon. Great perspective for bitcoin.

[btc_uzr]

http://www.reddit.com/r/BitcoinMarkets/comments/253p3r/daily_discussion_friday_may_09_2014/chdgyiu

[RealMalatesta]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

That makes me vomit my cookie.

[lemonte]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

They are platinum members anyway aren't they?

[RealMalatesta]

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

They are platinum members anyway aren't they?

Yup. They paid for it, while we are waiting for our refund. This shows clearly their priorities...

[MWNinja]

We have a ton of broken used KNC garbage, and they aren't responsive at all to RMA requests anymore.  I've been waiting all week to RMA a bad controller.  I'm still testing and assembling all the shit with zip ties, takes forever but it does work.  The first batch was 75% broken rate, the remaining batch around 20%.  Some are burned up from long term "abuse". Even the "new packaging" resulted in resistors getting torn off by the cases.  All the shit is USED and the fans are dirty with some sooty black shit. The foam bullshit cases just plain don't work and suck donkey balls.

Pretty much everyone that got the Franken-Jupiter option got Franken-Fucked KNC style. It's looking like the best option is to have the boards repaired by somebody handy with a soldering iron.

These guys used to be so good, what the hell happened? 

G R E E D

[Searing]

We have a ton of broken used KNC garbage, and they aren't responsive at all to RMA requests anymore.  I've been waiting all week to RMA a bad controller.  I'm still testing and assembling all the shit with zip ties, takes forever but it does work.  The first batch was 75% broken rate, the remaining batch around 20%.  Some are burned up from long term "abuse". Even the "new packaging" resulted in resistors getting torn off by the cases.  All the shit is USED and the fans are dirty with some sooty black shit. The foam bullshit cases just plain don't work and suck donkey balls.

Pretty much everyone that got the Franken-Jupiter option got Franken-Fucked KNC style. It's looking like the best option is to have the boards repaired by somebody handy with a soldering iron.

These guys used to be so good, what the hell happened? 

G R E E D

imho their are now 3 parts to KNC the investment group (brock pierce or whatever his name is the one saving gox) the chip mnfg as the other part of the equation partner
and the KNC guys SAM Cole etc

MY GUESS IS

The chip guys in DEC or so said they simply could not get product out from chip to consumer product fast enough for difficulty rise (remember they too thought cointerra bfl and hashfast would come thru by Feb)...so thus the data hall plan was born and to justify they started the idea of plan B...ie btc price is high we are ambitious lets do both!

then BTC tanked from its nice 1250 high...the other mnfgs did not come thru on the hash and imho the chip part of knc and the investment group
(or it coulda been all of them) came around and said 'data farms' are the future...but then BTC fell down to 440 bucks ...i assume these big places
mine to USD directly ...so....hmmmm....we can make a 'super sh*t load of cash" selling modules/more Jupiters  etc to existing customers now that are competitors are stuck
in place

or

we can make a SUPER DUPER SUPER SUPER SH*T LOAD OF MONEY by just being the biggest baddest PH Farm in the world with this screw up of our competitors and us
keeping the equip to mine ourselves and don't offer upgrade modules/existing products in this gap to our 'loyal' customers..suck all that 28mm stuff ourselves while the
other competors lag and keep difficulty less then it would be otherwise

er IMHO if I had to be fair...whoever wanted us (customers) to be compensated fairly (hey give them a bone likely the knc group) imho got basically outvoted by the
money guys/investors and maybe the large chip mnfg part of KNC (or any combo there of) or heck they all coulda jumped into the pool with the devil who knows but
it was a massive change of direction and attitude toward us the consumers of their products imho.

Well at 440 a coin...Neptune refunds astronomical....something had to give...the 400 people who got frankenjupiters would likely have refunded too..so sell them
used parts from the data hall replace eventually with Neptunes.. save $4,080,000 dollars at 10.2k per unit refunded otherwise..if the damn used parts would worked
been in a unit that could run them...and not shipped like crap this ploy likely would have gotten a ho hum out of the 400 buyers in that they were hashing out of the
box at 3TH alas it all fell thru..shipping and mnfg wise...and they simply CAN'T  give them money for used parts they send back in the form of a refund that would
be silly...thus RMA tag ensues...

that and other stuff ...the slow slide probably has started

likely the above is a fantasy..but imho such a complete turn around from customer 1st to customers last something very drastic happened....the shock of $440 usd coin.
the expansion and Neptune process costs timeline was too much to ambitious ? or combo of all..greed....they became a Mexican soap opera ..... too much netflix and
House of Cards?

whatever it is ...we the customers left at the dock while KNC sails towards its new data hall island up north (soon to be followed imho by the rest of us dumped off when
they close down the consumer product wing completely and go straight private PH farm or virtual mining whatever...)

 we will all looking for another 'legit" boat (be it briefly) in that this at one time good company went completely off the rails imho

(and I'm on the sidelines with only a Titan on order...ol course ordered it 2 weeks before KNC took a dump who was to know?)

but man this shuffle was faster then Charlie Sheen dumping the "Goddesses"

fhe fickle finger of fate once f*ck*d moves on!


http://tytempletonart.files.wordpress.com/2011/01/flying-fickle-finger-of-fate.jpg

(sigh it likely ain't gonna get any better equip mnfg pre-order trust wise in the future imho...and virtual mining is basically an asic cathouse with KNC as the pimp
if that is the future imho


so it goes

Searing

[drico]

if you have some card that came broken from your frankenjup to sell, please pm me.

[bobsmoke]

These guys used to be so good, what the hell happened? 

Its very unfortunate to see this happen! - they earned so hard the trust from a big number of customers and they manage to burn it ...
Even the shipping that was ~170 USD for the Jupiter or Netptune is now double the price. They are asking 300 USD to ship my hosted machine back ...

[underneath_the_water_line]

The topic of solvency has been up more than once now. We can't look into their internal fiscal books but we can look at the blockchain. What I propose is that we as a community come together and collect this information. It is known that they are mining like crazy and that BTC refunds are paid out of those operations.

Everyone who has been refunded in BTC now or since the beginning please help the community out by filling out this short survey:

I am a KNCminer customer and I am behind this survey. The sole purpose is to trace how much BTC KNCminer AB is holding.

This thread is currently so spread out that I would prefer further conversation regarding this survey and address collection at a forum dedicated to KNC( http://www.hackmyminer.com/forum/index.php?forum=7)

Question ("From what address did you receive your refund?")
https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewform?usp=send_form

Submitted addresses
https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewanalytics?usp=form_confirm

Edit:
Links to this survey have been posted at links below, by me.

• http://www.reddit.com/r/Bitcoin/comments/255zlz/regarding_knc_refunds_and_kncminer_addresses/
• http://www.hackmyminer.com/forum/viewtopic.php?showtopic=20

[Biodom]

At the current BTC price each $13200 refund is close to 30 coins (29 something). Even if they mine 15% of All mining activity, it is 540-620 coins a day (since difficulty is increasing at ~15%). They will probably not use more than 50% of daily revenue for refunds, I assume, which makes 270-310 coins available. This is comparable with the size of account from which i got the refund (however, I don't think that it is appropriate to share account numbers because you will give out your privacy as well). However, it also means that they will refund ONLY 10-12 machines a day. If someone has 2, then only 6 such people daily.

[underneath_the_water_line]

At the current BTC price each $13200 refund is close to 30 coins (29 something). Even if they mine 15% of All mining activity, it is 540-620 coins a day (since difficulty is increasing at ~15%). They will probably not use more than 50% of daily revenue for refunds, I assume, which makes 270-310 coins available. This is comparable with the size of account from which i got the refund (however, I don't think that it is appropriate to share account numbers because you will give out your privacy as well). However, it also means that they will refund ONLY 10-12 machines a day. If someone has 2, then only 6 such people daily.

Would you care to disclose what information  https://blockchain.info/address/ gives?

Number of transactions
Total received
Payments

[Phoenix1969]

At the current BTC price each $13200 refund is close to 30 coins (29 something). Even if they mine 15% of All mining activity, it is 540-620 coins a day (since difficulty is increasing at ~15%). They will probably not use more than 50% of daily revenue for refunds, I assume, which makes 270-310 coins available. This is comparable with the size of account from which i got the refund (however, I don't think that it is appropriate to share account numbers because you will give out your privacy as well). However, it also means that they will refund ONLY 10-12 machines a day. If someone has 2, then only 6 such people daily.

Would you care to disclose what information  https://blockchain.info/address/ gives?

Number of transactions
Total received
Payments

What's the point? Wont change a thing...  and we pretty much know the answer.
No need to share everyone's wallet addresses either.

[BoTrigins]

Not to collect everyones addresses they are allready in the public blockchain, only identify KNCs

I think it's a wise attempt to atleast be proactive incase they decide to embezzle funds.
1- They are no longer trustworthy
2- They are a company with 1000s of people/customers, so a payout from knc wallet still keeps the anonymity of the people safe.
3- They have started up several different companies on the side and if no one keep taps on the blockchain it will be super easy for them to funnel 10s of million usd away and declare bankruptcy. Not even the government or the law will know what to do.
4- There is nothing that proves that they are not allready embezzling using personal wallets to mine to at "our" DC up north.
5- They built DC with pre-orders money.
6- They are mining more than the 5% that's a breach of contract. Which lowered all miners profits by atleast 10%. Then they pay (after a month or so) refunds with btc that preorders DC allowed them to mine. Basicly raping their so called loyal customers in the ass more than once.
7- Perhaps this helps to find out truly how powerfull the preorder DC really is.
And the list goes on

Summery: probably wise to keep taps on them, and all customers will continue to be as anon as ever.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------

This thread is currently so spread out that I would prefer further conversation regarding this survey and address collection at a forum dedicated to KNC( http://www.hackmyminer.com/forum/index.php?forum=7)

Question ("From what address did you receive your refund?")
https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewform?usp=send_form
 (https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewform?usp=send_form)
Submitted addresses
https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewanalytics?usp=form_confirm (https://docs.google.com/forms/d/15ocLT4yelsQ3TQ59R2x4-TsKXULdAfPB1V6zXrJX-s0/viewanalytics?usp=form_confirm)