I feel screwed when I know that KnC's "hash while you wait" means forfeiting "Neptune two-for-one"!
KnC announced "hash while you wait" on April 8, saying first batch customers will start their cloud mining from early June and the last customer will hash in their data center around the last week of June. Now this is close to the end of June, and finally the Plan B arrived.
On April 28, KnC announced that "KnCMiner, 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." I felt happy when KnC announced this, because it shows KnC at least tries to bring more profits to the customers (although, in fact, two Neptune still cannot reach ROI). To my understanding, this is a bonus/gift/giveaway from KnC, it has nothing to do with the compensation due to delay of delivery.
In the email I receved from KnC two days ago, I am notified to choose either "hash while you wait" or "switch to Titan". There was no terms saying that by select any of the options, the "neptune two-for-one" plan will no longer be valid. I read their T&C (convert.kncminer.com/terms/), the two options they offered has nothing to do with the two-for-one plan, therefore I signed up "hash while you wait", happily waiting for the cloud mining next week, first Neptune by the end of June, and second one in August.
Then I read the forum discussion, and I know that KnC actually use "hash while you wait" in replace of "neptune two-for-one"! I feel totally cheated and pissed off! How come KnC breaks their public promises, and deprive my rights by just giving some vague and ambiguous terms and conditions?
I use the online calculator for some maths:
https://bitcoinwisdom.com/bitcoin/calculator. (I set the difficulty increase 20%, power consumption 2.1kW, the rest parameters are with default values)
I spent 12999 USD on 3TH Neptune. With current difficulty, even if I start mining today, I can mine up to 6BTC before electricity fee exceeds the income. Suppose bitcoin price is 600USD, I can get back 3600 USD. There is still a gap of 9399USD!
If I receive a second neptune by Aug 31 (earliest estimated delivery date), then before electricity bill wins, I can mine up to 8.4 BTC together with the first neptune. This is about 5040USD in total. And the gap is still 7959USD!
"hash while you wait" has a max period of 45 days. Suppose I don't receive my neptune and therefore I use up all the cloud mining time, then I can get around 3.8BTC, equivalent to 2280USD. Of course, if KnC ships my first Neptune by end of June, then I only get 0.8-0.9 BTC while waiting...
So, even if I have both "hash while you wait" and "neptune 2-for-1", I can get maximum $(5040+2280)=$7320. The gap is $5679.
If I only have "hash while you wait" and one neptune, then revenue is $(3600+2280)=$5880, gap is $7119!
Now I can buy a 1TH miner for about 1500-1700 USD(e.g.
http://www.lketc.com/goods/show-172.aspx the dragon miner, one of the well-known mining rigs in China), and such mining rig is in stock and can be delivered in 2-3 days. With 12999 USD, I can buy up to 7-8 TH mining power! This is far more than 6TB that KnC can provide.
KnC said Neptune is to be delivered in Q1/Q2, and they make customers believe it refers to March/early April. Now it is the very end of Q2, and I feel disappointed.
KnC said the "hash while you wait" will be started in early June, and it is delayed, and I feel disappointed.
Now KnC will revoke their promises of give away a second Neptune, I am totally pissed!