Swedish ASIC miner company kncminer.com

[RealMalatesta]

Well, here we go with KnC, another Brock Pierce company. Or, as Coindesk in their usually uncritically way writes: "Pierce has helped found GoCoin, ExpressCoin, KnCMiner and Robocoin Asia, and recently launched a plan to save the now-bankrupt bitcoin exchange Mt. Gox."

Some of you may not have followed the recent controversy around Pierce, so here's a summary:

{snip a load of old stuff we discussed months ago}

Currently Ages ago, some more stories are being researched by journalists, and these stories involve KnC and Brock Pierce's involvment.

It seems as if KnC started well, but turned into a hughe Ponzi-scheme. Glad who was able to get a refund. Glad who was able to get a miner - they may sell on Crapbay for making some money. The big rest may just have been screwed by Pierce and his buddies.

Welcome to last month

Thanks for your warm welcome. You may say the same to the newspapers which interview a former buddy of Pierce right now and which will also write about some KnC-background in the next few weeks :-)

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[HardwareReviewer]

man reading all this makes me glad i decided to refund at the beginning of the year.

Makes me glad I didn't buy at all.

Could you imagine paying ten grand for something that takes 5 days to mine a BTC?
And then every ten days add another day! Geez

Actually it currently takes 10 days with 3.3 TH/s to mine a bitcoin.

[The Avenger]

Actually it currently takes 10 days with 3.3 TH/s to mine a bitcoin.

Damn that's bad.

Looks like Neptombers, all costs considered, paid about $2000 per bitcoin.

[HardwareReviewer]

Actually it currently takes 10 days with 3.3 TH/s to mine a bitcoin.

Damn that's bad.

Looks like Neptombers, all costs considered, paid about $2000 per bitcoin.

Yeah, maybe the japper crapper deal was the better one after all...

[user27]

Actually it currently takes 10 days with 3.3 TH/s to mine a bitcoin.

Damn that's bad.

Looks like Neptombers, all costs considered, paid about $2000 per bitcoin.

Yeah, maybe the japper crapper deal was the better one after all...

Yep, Neptune is worth about £4000 when/if it arrives; which is approx. half what it cost. The second one will likely be worth no more than £2000 leaving total of 25% loss for every Neptune customer compared to buying BTC.

[Searing]

Actually it currently takes 10 days with 3.3 TH/s to mine a bitcoin.

Damn that's bad.

Looks like Neptombers, all costs considered, paid about $2000 per bitcoin.

Yeah, maybe the japper crapper deal was the better one after all...

Yep, Neptune is worth about £4000 when/if it arrives; which is approx. half what it cost. The second one will likely be worth no more than £2000 leaving total of 25% loss for every Neptune customer compared to buying BTC.

yep I have an SP30 6.5Th coming in Sept (and Titan in Aug...don't laugh I know)  supposedly...and even in my situation as a legal miner in USA (bank issues was caught so to speak you can pm me for details anyway)....I can also get at least in real $$ applied over a few years of 25% applied toward taxes (not gross depreciation this is actual $$$ applied I would have paid the tax man)....so that 25% is real dollars after equip depreciation is taken into account..but again run ...just wait till they get the tax situation fixed in 2015 don't be me!

even with my unique situation and a good price on the SP30 it is gonna be a squeaker to make ROI even with the above after elec cooling etc...with the massive
dump of asic stuff on the market and I guess the scrypt asic miners the common thing is to multipool and convert direct to btc anyway so it likely will even be worse
for those like me who thought they could hedge (I've nothing to fear right ...Titan has been called KNC's last consumer product ..they will treat me right? (I"m so screwed
will likely get a box of parts)

so far have paid minimal taxes 2013 to show I'm in a 'profit' IRS and likely will not pay much this year either (knock wood) but a lot of work to just get to the same boat
in a few years of not paying taxes the same as the guys that buy coins...so unless you are in my boat (bank screwed up pulled me along thus IRS legal I is) ..just have a leisurely
time with www.coinbase.com ...I don't see equip looking rosy till prob 2016 if ever....just buy coin looks like the new consumer way to go.it is gonna be ugly ugly ugly from
now till jan 1st equip wise imho ...bloodbath time for BTC miners imho

Searing

[poodle63]

Lucky me forgot to pay my nepy order, and I just figure it by last week, I'm so stupid awaiting for my nepy from knc, and finally look into my accout found I didn't pay it two months ago, woo~how lucky I am after read lot of reviews!

[mikewirth]

Lucky me forgot to pay my nepy order, and I just figure it by last week, I'm so stupid awaiting for my nepy from knc, and finally look into my accout found I didn't pay it two months ago, woo~how lucky I am after read lot of reviews!

Now that's a fast refund.  Way to show those guys!!

[NEO2012]

Lucky me forgot to pay my nepy order, and I just figure it by last week, I'm so stupid awaiting for my nepy from knc, and finally look into my accout found I didn't pay it two months ago, woo~how lucky I am after read lot of reviews!

Now that's a fast refund.  Way to show those guys!!

i get it that knc faked up they KNC should triple there hash rate  provide 3rd neptune for batch 1 costumers
even low life bottom feder scum of asic manufactureres like BFL dubled there hash rate for early costumers

on the bright side bfl is about to ship there super eficient 28nm miners any time  now

only 2 more weeks:)

eerrr wait

actually its ready when its ready  chef master duchebag josh proclaimed in a recent post

can anybody sucker punch that dude?)
for a funny yt video? at least

[Phoenix1969]

Lucky me forgot to pay my nepy order, and I just figure it by last week, I'm so stupid awaiting for my nepy from knc, and finally look into my accout found I didn't pay it two months ago, woo~how lucky I am after read lot of reviews!

Now that's a fast refund.  Way to show those guys!!

i get it that knc faked up they KNC should triple there hash rate  provide 3rd neptune for batch 1 costumers
even low life bottom feder scum of asic manufactureres like BFL dubled there hash rate for early costumers

on the bright side bfl is about to ship there super eficient 28nm miners any time  now

only 2 more weeks:)

eerrr wait

actually its ready when its ready  chef master duchebag josh proclaimed in a recent post

can anybody sucker punch that dude?)
for a funny yt video? at least

Yeah, if "Inaba" had been punched in the face every time he lied...  
There would be nothing left but a bloody stump.
I'm surprised nobody has sent a Silk Road Assassin after his ass.

[jelin1984]

final my neptune is today f.... stable at 3.3th  

i will put some heatsinks down from the cube i wait it to arrived from china

[Phoenix1969]

final my neptune is today f.... stable at 3.3th  

i will put some heatsinks down from the cube i wait it to arrived from china

you ordered the heatsinks from China?  or the Neptune?
You ever seen...    https://translate.google.com/   ?   To get a better grip on English writing.
 http://livemocha.com/ is really a great resource too. Great for learning how to speak....
but Plain old Google translate is best for just writing or deciphering.
Both are free

***I'm wondering how many Neppies were sold thru Brock's China outlet?
http://kncminer.cn/
could help explain the "Shortage" of chips.
I also doubt the original design of Neptune was meant to have 5 chips, like maybe it WAS supposed to be like Jupiter, and the chips were a bit slower than planned.
Just speculating.

[jelin1984]

No from china the heat sinks

[RawDog]

I also doubt the original design of Neptune was meant to have 5 chips, like maybe it WAS supposed to be like Jupiter, and the chips were a bit slower than planned.

I think that is 100% obvious in view of the fact that the original pictures showed a four chip design (same as Jup).  When they found out how crappy the chip would actually perform, they went to the five-cube scheme.  The real shame is, without waiting at all you can achieve 3.3TH with 7 Antminer S3 for only 6.75BTC.  I paid 18 BTC for my Neptune and I am still hanging on for delivery after MONTHS of waiting.  KnC fucked it all up.  They ought to make good on this fiasco for their loyal customers.  A free Neppy in September isn't going to help catch up to where we ought to be.  KnC left their customers to drown in the shit this time.  

The only way this works out for KnC is if they become a 'pure mining' entity from here on.  No hardware customers ever again.  

[faetos]

S3s are .74 btc each. 7 of those run you 5.18 btc. If you got a refund a bit back and used that 10Gs you could buy 20 of those at the current price of $650_btc. That's over 9.5T without OC. Hodor

[Tigggger]

I also doubt the original design of Neptune was meant to have 5 chips, like maybe it WAS supposed to be like Jupiter, and the chips were a bit slower than planned.

I think that is 100% obvious in view of the fact that the original pictures showed a four chip design (same as Jup).  When they found out how crappy the chip would actually perform, they went to the five-cube scheme.

Or here's another theory, the old KNC had a reputation for over-delivering on specs and the Neptune was going to hash at 4.1TH and feature 6 cubes.

After the company ethos changed to make as much money as possible and stuff the customers (sub standard parts to save a few pennies/cents), it was decided that a 5 cube unit fulfilled their promise of 3TH and all the extra ones go their farm.

Think about it 3,600 units sold, 1 cube from each is 2,376,000 GH completely free for them.

[Phoenix1969]

It would have been really cool (no pun intended ) if they had stuck to the 4 chip design and single case, and went with water-cooling, and heat-sinks on the VRM's, the "bigger" VRM's... but it probably would have gobbled even more power. I think tho that the absence of the bulky cooling tower will also help the VRM's, especially if they had heatsinks to catch even more cooling action...

Still waiting for someone to slap on some H-80's and apply some "Padrino tweaks"....  

[dropt]

It would have been really cool (no pun intended ) if they had stuck to the 4 chip design and single case, and went with water-cooling, and heat-sinks on the VRM's, the "bigger" VRM's... but it probably would have gobbled even more power.

Still waiting for someone to slap on some H-80's and apply some "Padrino tweaks"....   

How do you figure that's going to play out when almost everything is already maxed out on the Neptune?

[Phoenix1969]

It would have been really cool (no pun intended ) if they had stuck to the 4 chip design and single case, and went with water-cooling, and heat-sinks on the VRM's, the "bigger" VRM's... but it probably would have gobbled even more power.

Still waiting for someone to slap on some H-80's and apply some "Padrino tweaks"....  

How do you figure that's going to play out when almost everything is already maxed out on the Neptune?

Bigger VRM's would have been nice.......  or simply cooling the hell out of them
mineral oil imersion, lol peltier coolers

[burekzastonj]

my friend has one of those miners and it worked well so far, except it's very hot.