[BitFunder] - ADDICTION - KNCMiner - Now hashing at 14+TH!

[tuudle]

Hi, I don't get Difficulty increase/month set to 110 %.
50 % seems to me like approx. right number.

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[thegoldbug]

Any interest in doing a group buy again on the new KNC Neptune?  Email just received today.

I don't see a price for the new 3Th/s machine but since we are previous buyers we have the opportunity to buy-in.

I'd be interested.

[blastbob]

Hi, I don't get Difficulty increase/month set to 110 %.
50 % seems to me like approx. right number.

Modify to 50% and play with the delivery months.. Let me know if its a good deal

[blastbob]

Any interest in doing a group buy again on the new KNC Neptune?  Email just received today.

I don't see a price for the new 3Th/s machine but since we are previous buyers we have the opportunity to buy-in.

I'd be interested.

I don't really see the point of buying something that is a certain loss.

We did spend around 200.000$ at KnC and we have not been rewarded for that on the Gen2 Neptune's :/

[Voodah]

Guys please don't give any more of your BTC to ASIC companies. They are outright scamming us all right now, you are funding their private growth. How is it that you did not learn from this buy (AGAIN, tyrion's work was flawless !).

It's actually a very simple simple problem with a very complex background:

1. No equipment in the market hits ROI.
2. If you cannot buy hardware that gets ROI, you are ALWAYS better off using that same amount of BTC to buy coins on the market.

That's easy enough. For ASIC makers it's a different story:

1. You build boxes that print money.
2. If they cannot print enough money to hit ROI, you don't build it.
3. If they print a lot more money than it's cost to make, you're giving away free money. So, you pre-use them inhouse until the gains are minimal (yes, it is known for a fact ASIC companies have done this).
4. Only spot to sell: when the calculation for ROI vs. Cost becomes ambiguous, letting the customer gamble if the time it takes to ship will put him just barely within ROI (if he is lucky enough to be one f the very first buyers) or in a disastrous investment.

The model is broken. Don't feed it more BTC.

[LiteBit]

Any interest in doing a group buy again on the new KNC Neptune?  Email just received today.

I don't see a price for the new 3Th/s machine but since we are previous buyers we have the opportunity to buy-in.

I'd be interested.

I don't really see the point of buying something that is a certain loss.

We did spend around 200.000$ at KnC and we have not been rewarded for that yet.

Agreed. Not wise with the rate still rising.
BTW, the price is $10K for 3TH to be delivered in Q1/Q2 2014. So say March 2014 as optimistic and you get no ROI the first year. You get 200% ROI the first year if the price of BTC increases at a 100% / month clip.  Not likely.

[maqifrnswa]

Any interest in doing a group buy again on the new KNC Neptune?  Email just received today.

I don't see a price for the new 3Th/s machine but since we are previous buyers we have the opportunity to buy-in.

I'd be interested.

I don't really see the point of buying something that is a certain loss.

We did spend around 200.000$ at KnC and we have not been rewarded for that yet.

Agreed. Not wise with the rate still rising.
BTW, the price is $10K for 3TH to be delivered in Q1/Q2 2014. So say March 2014 as optimistic and you get no ROI the first year. You get 200% ROI the first year if the price of BTC increases at a 100% / month clip.  Not likely.

And, like Voodah wrote, if your ROI depends on the value of bitcoin rising - just buy bitcoins.

[philipma1957]

https://www.kncminer.com/news/news-69

hmmmmm neptune

going for another GB?  

I think we are going to pass on this one.. KNC are some sneaky ones, but playing the game very well.



* I only filled in cost and hash. Numbers might not be 100% correct

well only paying them in btc is a bit nerve wracking.  but   using 18% a diff adjustment works well


http://bitcoinwisdom.com/bitcoin/calculator   this gives a starting diff of 3189m on the 26th of march  your numbers start us at about 11000m.

most likely the real number is in the middle of those 2  estimates.

[quantummine]

If Blastbob & Tyrion70 were to engage in another GB, would the value of our Addiction shares be diluted i.e. currently each share is worth approx 28.23MH/s (I think it's more than this right?) so if they bought Neptunes would current share value essentially be worth 1/6 of what they were as the hashing power of a neptune is approximately 6x more than a Jupiter? In other words would the new Neptune buyers shares receive 6x as many shares as I have for my equivalent Jupiter GB, or I misunderstanding this completely?

[blastbob]

If Blastbob & Tyrion70 were to engage in another GB, would the value of our Addiction shares be diluted i.e. currently each share is worth approx 28.23MH/s (I think it's more than this right?) so if they bought Neptunes would current share value essentially be worth 1/6 of what they were as the hashing power of a neptune is approximately 6x more than a Jupiter? In other words would the new Neptune buyers shares receive 6x as many shares as I have for my equivalent Jupiter GB, or I misunderstanding this completely?

We are not going to do another GB with KnC Gen 2 equipment.

They are too high prices.
Delivery date is way to uncertain.
We did not get any rebate being big gen1 customers.

And machines will not make BTC Roi with current prices.

[Voodah]

Tyrion or blastbob,

Could we eventually put these to mine alt-coins?

Can you guys tell me the total monthly cost to have these runing (housing + energy + ?? )?

[wolfskill]

Didn't find anything within this thread.  But there is https://www.multipool.us/ which can mine the most profitable SHA-256 and Scrypt coin per hour.


WolfSkill

[utens]

Name coin 0.0115!!  Imo time  1-2 months and we'll switch to mine only altcoins Will be nice to get the roi on the expensive shares of the pre-Bitfunder era



( or even here http://www.coinwarz.com/cryptocurrency/?sha256HashRate=1000.00&sha256Power=500.00&sha256PowerCost=0.1000&scryptHashRate=750&scryptPower=350.00&scryptPowerCost=0.4000&sha256Check=false&scryptCheck=true  )

[tyrion70]

Name coin 0.0115!!  Imo time  1-2 months and we'll switch to mine only altcoins Will be nice to get the roi on the expensive shares of the pre-Bitfunder era

( or even here http://www.coinwarz.com/cryptocurrency/?sha256HashRate=1000.00&sha256Power=500.00&sha256PowerCost=0.1000&scryptHashRate=750&scryptPower=350.00&scryptPowerCost=0.4000&sha256Check=false&scryptCheck=true  )

You linked to a scrypt comparison.. We can only mine sha256 coins (that are not merged with bitcoin like namecoin):
http://www.coinwarz.com/cryptocurrency/?sha256HashRate=1000.00&sha256Power=500.00&sha256PowerCost=0.1000&scryptHashRate=750.00&scryptPower=350.00&scryptPowerCost=0.4000&sha256Check=true&scryptCheck=false

Didn't find anything within this thread.  But there is https://www.multipool.us/ which can mine the most profitable SHA-256 and Scrypt coin per hour.

The problem with multipool is that ppl manipulate the prices of altcoins in order to make certain coins "look" profitable while they are not. It's great if you are GPU mining and have a lot of spare time to actually check profitability, but not something you want to do with 14+TH atm. Also don't forget that you can't sell newly minted coins. They need to mature first which can take a few hours up to a whole day depending on the coin.

Could we eventually put these to mine alt-coins?

Can you guys tell me the total monthly cost to have these runing (housing + energy + ?? )?

Yes we can, but so far no SHA-256 altcoin has proven to have a long term higher profitability than Bitcoin. That might of course change in the future..
The cost for housing and energy (what we pay the datacenter) is 200eur/miner/month paid weekly. Thats why hosting costs have been going down every week

If Blastbob & Tyrion70 were to engage in another GB, would the value of our Addiction shares be diluted i.e. currently each share is worth approx 28.23MH/s (I think it's more than this right?) so if they bought Neptunes would current share value essentially be worth 1/6 of what they were as the hashing power of a neptune is approximately 6x more than a Jupiter? In other words would the new Neptune buyers shares receive 6x as many shares as I have for my equivalent Jupiter GB, or I misunderstanding this completely?

Question is kinda moot since we won't buy Neptunes due to the price/delivery date combination but we might find some hardware in the future somewhere so this is how we would do it:
Currently we have 27*12400 shares (334800 total). We have little over 14TH so thats 41.8MH per share ().

Say we buy a Neptune which does 3TH (actual number). Then we could issue 3.000.000 (MH) / 41.8 == 71770 shares per miner. That would mean we'd had a total hashrate of 17TH (14+3) with 406570 shares (334800 + 71770). That would keep the hashrate per share on 17.000.000 / 406570 == 41.8 MH / share So no dilution..

So far the questions

As for the Neptunes.. We think one of the great things of our groupbuy was the fact that we (Blastbob and myself) were (a big) part of the group. It wouldn't feel right for us to start a groupbuy on Neptunes if we wouldn't invest (heavily) in them ourselves. As it stands Blastbob and myself don't think that those miners are a good investment from a BTC perspective. While the ROI calculation we posted above was pretty negative (with 110%/month), I remember clearly when we started this groupbuy that we thought an average 16% increase of difficulty between June 5th and now was highly unlikely.. I just looked it up, in the period between June 5th and delivery we've seen one diff change below 16%.... on average it was almost 29%. So even though the last one was "only" 20% and the next one will be around 16% that in no way guarantees we will continue to get those percentages the following months.
Lastly we find delivery in Q1/Q2 way to wide.. We bought the Jupiters with a September delivery in mind.. They produced their first Jupiter September 30th 23:50. Even though we feel KnC did a marvelous job and we can't complain about getting a 500+ device while we bought a 350 device, we fear Q1/Q2 will end up being June 30th 2014. Now thats pretty far away

Cheers,

[tyrion70]

O, and I just processed all transfers. new list is here: http://pastebin.com/v5xhYTgh

Only 6763 unconfirmed shares left

[Voodah]

Thanks for all the answers tryrion !

Amazing job as usual.

[newtothescene]

Yes - thank you for your constant engagement, transparency, honesty and professionalism.  You guys rock!

[namzycad3]

O, and I just processed all transfers. new list is here: http://pastebin.com/v5xhYTgh

Only 6763 unconfirmed shares left

if worst case senario, the unconfirmed shares still not yet being claim after end of 2 years running the rig. whats the plan ? keep it until someone come and collect it ?

[tyrion70]

O, and I just processed all transfers. new list is here: http://pastebin.com/v5xhYTgh

Only 6763 unconfirmed shares left

if worst case senario, the unconfirmed shares still not yet being claim after end of 2 years running the rig. whats the plan ? keep it until someone come and collect it ?

To be honest, not sure yet.. For now we'll keep it seperate. Probably on a different BTC address as well (for everyone to see) so everyone can still see in the blockchain how much we mined. We're reluctant to set a date on it since there are still some pretty big shareholders (biggest has 3500+ shares).
If it were my shares I'd be pretty bummed out if someone just gave my dividends away On the other hand, it costs us extra efforts to keep those payments seperate and calculate the backpay owned.

We just hope that everyone will get in touch with us. So far we can't really complain it's only 2% that's unclaimed.

[tidus_13]

does someone received btc from weex? >:(something is wrong