Swedish ASIC miner company kncminer.com

[Easy2Mine]

If Sam Arsecole keep increasing his hashrate, Bitcoin will loose it creditbility and price will fall.
Good job Sam arsehole.

[RoadStress]

If Sam Arsecole keep increasing his hashrate, Bitcoin will loose it creditbility and price will fall.
Good job Sam arsehole.

Bigger hashrate is good, lying own customers is bad.

[Easy2Mine]

If Sam Arsecole keep increasing his hashrate, Bitcoin will loose it creditbility and price will fall.
Good job Sam arsehole.

Bigger hashrate is good, lying own customers is bad.

If Sam Arsehole have 51% of the network,  it's all over.
I don't think that GREEDY bastard understand it.

[wasubii]

They are both bad deals.

Yuuuuup!

perhaps it's not the miner which is a bad deal, but how the buyer uses it.

I have $5095

Option A: buy 8.5 bitcoin today

Option B: buy a 6 TH/s miner with delivery in september that will mine back in its lifetime less than 5 bitcoin (and thats assuming it is delivered beginning of september). Oh, and you still have to pay for power and rewiring your house.

Please do enlighten us all and tell us how a buyer could go for option B and possibly be better off than option A? What is your magic secret?

[RoadStress]

If Sam Arsecole keep increasing his hashrate, Bitcoin will loose it creditbility and price will fall.
Good job Sam arsehole.

Bigger hashrate is good, lying own customers is bad.

If Sam Arsehole have 51% of the network,  it's all over.
I don't think that GREEDY bastard understand it.

Just because he is a greedy bastard he will not do something to disrupt bitcoin network.

I have $5095

Option A: buy 8.5 bitcoin today

Option B: buy a 6 TH/s miner with delivery in september that will mine back in its lifetime less than 5 bitcoin (and thats assuming it is delivered beginning of september). Oh, and you still have to pay for power and rewiring your house.

Please do enlighten us all and tell us how a buyer could go for option B and possibly be better off than option A? What is your magic secret?

I will cross post this (original post https://bitcointalk.org/index.php?topic=521520.msg7480675#msg7480675)

This has been discussed so many times already. As stated before I think there is a small misconception about the bitcoin ROI. Buying and holding 9 bitcoins raises the question of when you exchange them back to fiat or what are you doing with them while mining gives you more options.The way I see it it this:

- Exchange rate doesn't move for 6-12 months:
         - Buying and holding makes 0 profit;
         - Mining will show a profit because there is less incentive to deploy new hashpower
- Exchange rate goes up (fast or slow):
         - Buying and holding will show a profit, but uncertain because of the moment of exchanging. Will you exchange at 1000$, 1200$, 1500$ and so on. If you exchange 3 bitcoin at 1000$ and next month you have a 1200$ rate then you lost some profit there, while mining tends to smooth a bit this;
         - Mining will always show a profit if exchange rate goes up. I realize that it will be smaller than buying and holding if the exchange rate will go up fast, but since nobody doesn't know the future I prefer the conservative way instead of the lotto way.

There you have it. Out of 4 possibilities only 3 will show a profit and 2 out of 3 are from mining. It's everyone's choice how he plans his financing. All ROI discussions sums up to the above for me and I feel that it's a very over discussed general subject.

[raskul]

They are both bad deals.

Yuuuuup!

perhaps it's not the miner which is a bad deal, but how the buyer uses it.

I have $5095

Option A: buy 8.5 bitcoin today

Option B: buy a 6 TH/s miner with delivery in september that will mine back in its lifetime less than 5 bitcoin (and thats assuming it is delivered beginning of september). Oh, and you still have to pay for power and rewiring your house.

Please do enlighten us all and tell us how a buyer could go for option B and possibly be better off than option A? What is your magic secret?

there is no magic secret. i am no longer mining bitcoin (Option C)  
ADD: your circuit must be very old if you are needing to rewire your home for 2500W

Everyone knows the secret to earning bitcoins is by pimping spondoolies hardware.

PS: use my affiliate link (1000% roi guaranteed)

ADD: and it's nothing to do with reselling. I am mining, just not bitcoin.

[jimmothy]

Everyone knows the secret to earning bitcoins is by pimping spondoolies hardware.

PS: use my affiliate link (1000% roi guaranteed)

[RoadStress]

Everyone knows the secret to earning bitcoins is by pimping spondoolies hardware.

PS: use my affiliate link (1000% roi guaranteed)

Correction. Use my affiliate link and I will donate a percent of the hashrate bought.

Also a pretty weak reply to my view of seeing things. The way I see your reply after my analyze is like a caveman with a bat in his hand smashing things while someone explains him how stuff works.

Oh, and you still have to pay for power and rewiring your house.

No you don't if you colocate your unit: https://bitcointalk.org/index.php?topic=622998.0

[sergio]

If Sam Arsecole keep increasing his hashrate, Bitcoin will loose it creditbility and price will fall.
Good job Sam arsehole.

Bigger hashrate is good, lying own customers is bad.

That sam arsehole, is a man of no dignity, he promised not to mine over 5% of the customers hash rate, and now he is not honoring the refunds that were promise, he is a thief.

We should organize, we should not let this crooks get away, they have stole millions from miners like you and me.
he sold used junk as new.

He is pure filth, he could sell his mother if he could, a perfect example of pure greed and evil.

[jimmothy]

No you don't if you colocate your unit: https://bitcointalk.org/index.php?topic=622998.0

With expensive hosting (>$0.1/kwh) how can miners who buy overpriced hardware possibly compete with mining operations like datatank with much cheaper hardware and hosting costs less than $0.025/kwh?

[bitcoinarnold]

you missed the part where they built a massive 'datorhall' with intent to build two more, then?  

Anyone have source on this?

They're really f*cking the customers well

[Collider]

No you don't if you colocate your unit: https://bitcointalk.org/index.php?topic=622998.0

With expensive hosting (>$0.1/kwh) how can miners who buy overpriced hardware possibly compete with mining operations like datatank with much cheaper hardware and hosting costs less than $0.025/kwh?

The hosting isn´t expensive, (some of it) is a good rate for such high density deployments.

At first glance it might be expensive compared to running your miner at home, but even @home you need to factor in the used space, one-time expenses like AC, etc.
Finally, deploying at home scales much less easily.

The reason why you buy expensive hardware is because datatank isn´t around yet with a deployed mine, therefore there is no pressure for miners to look for maximized efficiency.

While DataTank might have 10MW online in 3-6months, it will be only a very small percentage of the network, still enabling less efficient (in terms of OpCost) miners to profit.

I am all for DataTank, as it seems to be a no-brainer with such low operational cost and a modular DC design.
It is an investment though, and the infrastructure (aka DataTank) will need around 9 months to break even with an aircooled device. After that you can REAP profits though, no doubt about it.

[Collider]

you missed the part where they built a massive 'datorhall' with intent to build two more, then?  

Anyone have source on this?

They're really f*cking the customers well

It seems like the logical next step to me.

However, it doesn´t really matter who deploys the massive DCs (except for the few remaining KNC customers who rightfully feel betrayed).

Fact is, there will be much more big deployment in the future, both with Bitfury, Asicminer and KNC devices.

Asicminer needs to sell in order to get NRE back, Bitfury and KNC should be swimming in money, but still they can make more.

Isn´t this the normal course of things?

[raskul]

you missed the part where they built a massive 'datorhall' with intent to build two more, then?  

Anyone have source on this?

They're really f*cking the customers well

It seems like the logical next step to me.

However, it doesn´t really matter who deploys the massive DCs (except for the few remaining KNC customers who rightfully feel betrayed).

Fact is, there will be much more big deployment in the future, both with Bitfury, Asicminer and KNC devices.

Asicminer needs to sell in order to get NRE back, Bitfury and KNC should be swimming in money, but still they can make more.

Isn´t this the normal course of things?

it is, and it was inevitable, it confuses me to see folk running around with their hands in the air wailing 'difficulty! difficulty!'
what did we expect to happen?

[The Avenger]

you missed the part where they built a massive 'datorhall' with intent to build two more, then?  

Anyone have source on this?

They're really f*cking the customers well

I think it was this:

KnC Enters Cloud Mining Services

The new data center marks KnC’s entry into cloud mining services. It’s the latest in a series of bitcoin companies to announce the establishment of multi-megawatt data centers for Bitcoin mining – the term for using data-crunching computers to earn newly-issued virtually currency. Like hyperscale computing companies such as Facebook, Bitcoin companies are chasing cheap power to improve the profitability of running their power-hungry rigs.

“We searched all over the world for a suitable place to build the first of many of our own mega data centers, and to find the best location lying right here in our home country is fantastic,” said Sam Cole, one of the co-founders at KnC Miner. “Our highly advanced technology consumes a lot of energy, so for us it was imminent to find a production site with access to renewable yet stable and safe energy. We have had an incredible amount of support from The Node Pole representatives, local companies and the government here in Boden.”

The Node Pole initiative seeks to market Sweden as a destination for data center development, leveraging the region’s abundance of stable and competitively priced electricity from renewable energy.

KnC Miner started construction last week, but expects it to be fully operational already within the next few months. Representatives of the Node Pole said that KnC is “already in discussions with local authorities regarding the establishment of even larger facilities in the local area already later this spring.”

source:
http://www.datacenterknowledge.com/archives/2014/02/06/bitcoin-miners-building-10-megawatt-data-center-sweden/

-- so they are not really busy building our miners.....  They are working in a formal helicopter hangar for their own business.

[xstr8guy]

They are both bad deals.

Yuuuuup!

perhaps it's not the miner which is a bad deal, but how the buyer uses it.

I have $5095

Option A: buy 8.5 bitcoin today

Option B: buy a 6 TH/s miner with delivery in september that will mine back in its lifetime less than 5 bitcoin (and thats assuming it is delivered beginning of september). Oh, and you still have to pay for power and rewiring your house.

Please do enlighten us all and tell us how a buyer could go for option B and possibly be better off than option A? What is your magic secret?

there is no magic secret. i am no longer mining bitcoin (Option C)  
ADD: your circuit must be very old if you are needing to rewire your home for 2500W

Everyone knows the secret to earning bitcoins is by pimping spondoolies hardware.

PS: use my affiliate link (1000% roi guaranteed)

ADD: and it's nothing to do with reselling. I am mining, just not bitcoin.

Shush! 

[The Avenger]

I think they must be burning in everyone's Neptunes before shipping next week.  Holy shit!  That is a bunch of new Hash power hooked up to the network.

That's the most likely explanation, especially since the number fluctuates both up AND down (currently 6%). At least, I EXPECT them to do a 24-48 hour burn-in on the boards before shipping them to me.

You guys are too trusting.

There are two options here:
1. KNC are building their own new datorhall(s) first and mining the shit out of it.
2. They are burning in customer rigs. If they are burning in customers rig, HOW COME THEY AREN'T MINING TO THE CUSTOMERS BITCOIN ADDRESS?? KNC are mining to their own address and have stolen probably half a million dollars worth of customers bitcoins mined on customers machines over the weekend and pocketed it themselves.

[papaxpapa]

Hello
I have a question?
Is Neptune is marked with the CE mark and if so, what is the number?
Is it arrived Declaration of Conformity?
Please reply
Regards

[Collider]

Hello
I have a question?
Is Neptune is marked with the CE?
Is it arrived Declaration of Conformity?
Please reply
Regards

It should be, as it is produced in the EU....

Also there is no inspection of the parcel by customs, as it is shipped within the EU, so it doesn´t really matter.

[The Avenger]

Hello
I have a question?
Is Neptune is marked with the CE mark and if so, what is the number?
Is it arrived Declaration of Conformity?
Please reply
Regards

No, KNC do not get their rigs CE certified.

It takes 2-3 days (source http://cointerra.com/update-prototype-testing-completed-certification-production-week/).

KNC always say their customers demand they ship immediately, which gives them the excuse to cut corners and avoid getting any European certification to prove their rigs are actually safe.

They did not burn-in October Jupiters at all and shipped many faulty rigs.

Ask Elenelen - I guarantee their is no CE mark.