[Closed] KnCMiner Neptune(s) Shares GB6 .018 = 2.25GH per share - Batch 2

[KnCMiningOp]

About:

KnCMiningOp is currently mining with 3 Jupiter's around 1.5TH/s and 47 members. We have a KnC Neptune on pre-order that was paid for with the re-investment fund this morning. There has been a ton of interest from existing group buy members and non members to buy additional shares in the group buy. As a result I have decided to open up additional shares with out diluting current shares in the below format.

You can check out our stats page here: http://54.243.221.120/ (Note on Jupiter 3's hash rate: 3/4 chip have been RMA'ed and are estimated to be back up and hashing by tomorrow Nov/27th.)

GB1: https://bitcointalk.org/index.php?topic=243092.0;all
GB2: https://bitcointalk.org/index.php?topic=249820.0;all
GB3: https://bitcointalk.org/index.php?topic=252584.0;all

Finances: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c&usp=drive_web#gid=7

Shares buying/selling thread: https://bitcointalk.org/index.php?topic=336900

Investment info:

1000 shares total per Neptune:

750 shares public.
50 shares to myself for management.
200 shares being issued to the mining operation. These dividends are deposited into the re-investment fund and used to buy additional hardware.

For each 750 shares that are sold will represent a Neptune. So for example if there is enough interest that 1500 shares sell. 2 Neptune's will be bought, if 2250 shares sell 3 Neptune's and etc. Any remainder of shares will be refunded.

Dividends:

Get paid weekly on Saturdays.

Please note that these additional group buy shares will not start receiving a dividend until your unit is up and mining.

Reinvestment Fund Details:

I will use the way the pre-ordered Neptune will play into the existing shares/math:

Back in June-August I was able to get around 50 people to invest with me into 3 Jupiter's for a total of 1.5TH. There were 3000 shares sold back then so each share currently is worth around 500 MH/s when the Neptune that was paid for this morning will come online each share will be 1500 MH/s with out adding any shares. When the 2nd Neptune is added each share would be 1875 MH/s with adding 1000 shares. As each additional device is rolled into the existing pool the per share MH/s should increase. When another device is added with the reinvestment fund monies the MH/s per share will increase.

Costs:

One-Time Neptune: $10,200
Shelf & misc: $100
2 - 3 PSU: $400-600
Electric circuits installation: $500-$2,500

Weekly:
Miner estimated power usage: ~$60

Monthly:
Rent: $0
Internet: $0
Management Fee: $0

Future Plans:

Save profits and buy additional units.

Payment & Escrow:

Please setup your own escrow, I recommend blockchain.info or John K escrow.

Or the mining op address is: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

When you send your payment please pm me the txid, your dividend address and your email address.

Price per share is .016 .014 .018 BTC or $13.6 $18 USD.


FAQ:

Are the shares transferable?
Yes they are.

Can I pay with USD?
Yes I'll accept certain methods of payment via fiat. Please PM me to work out the details.

Can I pay with Paypal?
No, my Paypal account got shutdown for bitcoin activities that Paypal deemed too high risk. Even though not a single charge back has ever been filled against me.

Can I pay via Havelock, CryptoStock or Coinbase BTC transfer?
Yes you may. Please PM me for details.

What are the dividend expectations per share?
See the Dividend Yield Estimates sheet here: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c#gid=1

What happens if BTC drops in price by the time the miner(s) is paid for?
I will ask everyone to send in a little extra BTC per share. If you paid with cash you won't need to pay anything more.
You will also have the option for a refund if you don't want to send any more, less any fees.

Has this unit been ordered yet and/or when will this ship?
Yes it has been ordered and depending on when the order is paid for depends on when it will ship.

Any other questions please PM me.

[1715198917]

1715198917

[1715198917]

1715198917

[1715198917]

1715198917

[1715198917]

1715198917

[1715198917]

1715198917

[bitdigger2013]

Did they open preorder yet for Neptune? Still shows coming soon on their website.

[KnCMiningOp]

Did they open preorder yet for Neptune? Still shows coming soon on their website.

Yes they did. Per their email:

"The product is now available for purchase in our shop, If you are a registered customer you can order and pay for it today."

[ipxtreme]

Please post here: https://bitcointalk.org/index.php?topic=348054

About:

KnCMiningOp is currently mining with 3 Jupiter's around 1.5TH/s and 47 members. We have a KnC Neptune on pre-order that was paid for with the re-investment fund this morning. There has been a ton of interest from existing group buy members and non members to buy additional shares in the group buy. As a result I have decided to open up additional shares with out diluting current shares in the below format.

You can check out our stats page here: http://54.243.221.120/ (Note on Jupiter 3's hash rate: 3/4 chip have been RMA'ed and are estimated to be back up and hashing by tomorrow Nov/27th.)

GB1: https://bitcointalk.org/index.php?topic=243092.0;all
GB2: https://bitcointalk.org/index.php?topic=249820.0;all
GB3: https://bitcointalk.org/index.php?topic=252584.0;all

Finances: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c&usp=drive_web#gid=7

Shares buying/selling thread: https://bitcointalk.org/index.php?topic=336900

Investment info:

1000 shares total per Neptune:

750 shares public.
50 shares to myself for management.
200 shares being issued to the mining operation. These dividends are deposited into the re-investment fund and used to buy additional hardware.

For each 750 shares that are sold will represent a Neptune. So for example if there is enough interest that 1500 shares sell. 2 Neptune's will be bought, if 2250 shares sell 3 Neptune's and etc. Any remainder of shares will be refunded.

Dividends:

Get paid weekly on Saturdays.

Please note that these additional group buy shares will not start receiving a dividend until your unit is up and mining.

Reinvestment Fund Details:

I will use the way the pre-ordered Neptune will play into the existing shares/math:

Back in June-August I was able to get around 50 people to invest with me into 3 Jupiter's for a total of 1.5TH. There were 3000 shares sold back then so each share currently is worth around 500 MH/s when the Neptune that was paid for this morning will come online each share will be 1500 MH/s with out adding any shares. When the 2nd Neptune is added each share would be 1875 MH/s with adding 1000 shares. As each additional device is rolled into the existing pool the per share MH/s should increase. When another device is added with the reinvestment fund monies the MH/s per share will increase.

Costs:

One-Time Neptune: $10,200
Shelf & misc: $100
2 - 3 PSU: $400-600
Electric circuits installation: $500-$2,500

Weekly:
Miner estimated power usage: ~$60

Monthly:
Rent: $0
Internet: $0
Management Fee: $0

Future Plans:

Save profits and buy additional units.

Payment & Escrow:

Please setup your own escrow, I recommend blockchain.info or John K escrow.

Or the mining op address is: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

When you send your payment please pm me the txid, your dividend address and your email address.

Price per share is .016 BTC or $13.6 USD.


FAQ:

Are the shares transferable?
Yes they are.

Can I pay with USD?
Yes I'll accept certain methods of payment via fiat. Please PM me to work out the details.

Can I pay with Paypal?
No, my Paypal account got shutdown for bitcoin activities that Paypal deemed too high risk. Even though not a single charge back has ever been filled against.

Can I pay via Havelock, CryptoStock or Coinbase BTC transfer?
Yes you may. Please PM me for details.

What are the dividend expectations per share?
See the Dividend Yield Estimates sheet here: https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c#gid=1

What happens if BTC drops in price by the time the miner(s) is paid for?
I will ask everyone to send in a little extra BTC per share. If you paid with cash you won't need to pay anything more.
You will also have the option for a refund if you don't want to send any more, less any fees.

Has this unit been ordered yet and/or when will this ship?
Yes it has been ordered and depending on when the order is paid for depends on when it will ship.

Any other questions please PM me.

Great Stats page. This is how EVERY group buy should be run. Good job.

[KnCMiningOp]

Thanks ipxtreme!

[KnCMiningOp]

Due to BTC rising I'm dropping the price and recalculating what everyone has already paid for.

The new price is .014 BTC per share.

If you already paid you will get additional shares. Take the amount you paid and divide by .014

I'll be updating everything shortly.

[KnCMiningOp]

First Neptune Paid for: https://bitpay.com/invoice?id=Db2tfzFk7rfU35qWE3rVTQ and: https://blockchain.info/tx/c9b2dd3ac8bbeb4e523a1b14e6fadb668fe9fdb346fbf487120e825149d7bce9

There are 109 shares left in this first Neptune being nicknamed GB4's Neptune.

As soon as those 109 shares are sold GB5's Neptune will open up.

I had to borrow BTC from Saturdays Dividends to pay for this Neptune.

George

[KnCMiningOp]

GB4 Paid:

Lord Stapy   8
Lighteden   9
ipxtreme     9
Travis S.   11
donnyc   11
kai11           22
bluh5d   25
railzand     28
crankmonkey 34
Dr. Buzz   40
venom.oca   76
madpoet   100
wintermute   199
Mining Op   200
erschiessen   228
 
Shares left: 0

GB5 Paid:

Lacutis   2
thok422   4
arnbrd   4
adam00f     5
grosbill   5
miner17    6
ipxtreme     8
michelDiz   9
012anna   10
Bill Bisco   10
Dr. Buzz   10
bitminer9000 10
westside8    10
Lighteden   11
Renan   14
publicstalker 19
shurkken   20
Bigdaddyaz   20
trilby          40
doctordig   47
kAUha   50
wintermute   50
The Rouge 1 51
railzand   60
11Blade   70
howardb    75
Maria         75
Nate           105
Mining Op   200


Shares left: 0

GB6 Paid:

GB4 Paid:

Lord Stapy   8
Lighteden   9
ipxtreme     9
Travis S.   11
donnyc   11
kai11           22
bluh5d   25
railzand     28
crankmonkey 34
Dr. Buzz   40
venom.oca   76
madpoet   100
wintermute   199
Mining Op   200
erschiessen   228
 
Shares left: 0

GB5 Paid:

Lacutis   2
thok422   4
arnbrd   4
adam00f     5
grosbill   5
miner17    6
ipxtreme     8
michelDiz   9
012anna   10
Bill Bisco   10
Dr. Buzz   10
bitminer9000 10
westside8    10
Lighteden   11
Renan   14
publicstalker 19
shurkken   20
Bigdaddyaz   20
trilby          40
doctordig   47
kAUha   50
wintermute   50
The Rouge 1 51
railzand   60
11Blade   70
howardb    75
Maria         75
Nate           105
Mining Op   200


Shares left: 0

GB6 Paid:

oedo808   9
hellaslubo   23
venom.oca   16
Lighteden   11
Lacutis   20
thisguy   160
tmu   40
Harderfaster   2
publicstalker   11
SteveHome   10
va23boam   23
Zeamar   10
miner17    6
tripppn   25
gamefixer   111
sebasimp   56
N[e]wBie   50
The Rouge 1   20
offbalance   1
addzz   10
CSInvestments   2
Yeos   10
Konnon   10
SosDk   30
billybeartku   25
pkbudz   13
arkitect   10
rd1   8
sconklin321   1
threatgreater   23
crackfoo   1
MrPalmer   2
wintemute   51
Mining Op   200

Shares left: 0

Edit: I'm going to keep editing this list with updates. Updated 1/4 11 PM CST

[KnCMiningOp]

Jupi3 is back from RMA and we are pushing 1.7THs 

[madpoet]

It's a beautiful thing!  Will be a nice payout tomorrow   Plus my DZ GB payout hopefully will make for a happy day.

[KnCMiningOp]

Since a lot of you have been asking about cash payment. I'll take a cashiers check, money order, Western Union, Venmo and personal checks only if you are a current share holder.

[KnCMiningOp]

Looks like KnC is sold out: https://bitcointalk.org/index.php?topic=348054.msg3775837#msg3775837

This leaves us with a few options:

1. We keep collected funds and keep collecting funds and I'll buy as many Neptune's as I can on the next batch.
2. We look for other hard ware buy with funds collected so far and keep collecting.
3. We refund all BTC from GB5 and destroy all inbound money orders and checks.

Thoughts?

[KnCMiningOp]

I vote to keep collecting funds and buy batch 2.

[KnCMiningOp]

KnC has announced Batch 2: https://www.kncminer.com/news/news-72

Those of you that have reserved shares this would be a perfect time to pay. With as fast as batch 1 went. Who knows how fast Batch 2 will go.

[KnCMiningOp]

Since Batch 2 Neptune's are $3K more I have to raise the price per share. All that means is that you will get less shares. The new prices are .018 or $18 per shares.

Those of you who would like a refund please let me know.

George

[KnCMiningOp]

GB5 Neptune has been paid for: https://bitpay.com/invoice?id=AwDW52KgioEVa9SNFzTqs9 & https://blockchain.info/tx/cdb859ef26fbbc26780282bc6fcd251cac64b9f7d2c19c1d6c68d8185016b37d

BTC were borrowed from the the dividend pool.

Only 216 shares left in GB5.

[KnCMiningOp]

GB5 is closed and GB6 is open.

[TonyAlmeida]

How many GHS per share?

Thanks

[KnCMiningOp]

How many GHS per share?

Thanks

2.25 GH per share.

[KnCMiningOp]

642 shares left.

[pdawg]

So we won't see dividends from GB6 till Q1/Q2 correct?

[KnCMiningOp]

So we won't see dividends from GB6 till Q1/Q2 correct?

That is correct. Unless you get active shares: https://bitcointalk.org/index.php?topic=336900.0;all

[KnCMiningOp]

632 shares left.

[KnCMiningOp]

612 shares left.

[KnCMiningOp]

545 shares left.

[RATM69]

What is the current cost of shares? I'm a bit confused.

And it's 2.25Ghz per share correct?
 

[KnCMiningOp]

What is the current cost of shares? I'm a bit confused.

And it's 2.25Ghz per share correct?
 

The current cost is .018 per share. Once this Neptune is up and running the shares will be 2.25 GH/s.

413 shares left.

[KnCMiningOp]

403 shares left.

[KnCMiningOp]

383 shares left.

[KnCMiningOp]

373 shares left.

[KnCMiningOp]

Voting system is up, check your email.

352 shares left.

[KnCMiningOp]

Voting system is up, check your email.

352 shares left.

So far around 40 people have voted on the 3 test motions.

A quick explanation if Active, Inactive and Both votes:

The "Test - Active" is for shares that are currently receiving a dividend.

The "Test - Inactive" is for shares that are currently not receiving a dividend.

The "Test - Both" is for both types of shares.

185 shares left.

[KnCMiningOp]

111 shares left.

[KnCMiningOp]

105 shares left.

[KnCMiningOp]

95 shares left.

[KnCMiningOp]

83 shares left.

[Konnon]

If I buy into GB6, do I get dividends from the existing group mining before the 3rd Neptune arrives ?

[KnCMiningOp]

If I buy into GB6, do I get dividends from the existing group mining before the 3rd Neptune arrives ?

Nope. Unless you buy some active shares of someone: https://bitcointalk.org/index.php?topic=336900.20

[Konnon]

Thanks. Do you know the expected time difference of delivery between batch 1 and 2 ? Weeks or months ?

[KnCMiningOp]

Thanks. Do you know the expected time difference of delivery between batch 1 and 2 ? Weeks or months ?

No I don't, but I would estimate it at weeks not months.

[KnCMiningOp]

25 shares left.

[pkbudz]

Ill take 5

[Theraty]

Hi, do you accept bank transfer?

[KnCMiningOp]

Hi, do you accept bank transfer?

Nope. Venmo I do though.

George

[MrPalmer]

Are there any shares left?

Thanks.

[KnCMiningOp]

Are there any shares left?

Thanks.

Yes there are 45 shares left and the miner has been paid for: https://bitpay.com/invoice?id=D9Dwo86bohtxt44u6K3Qdj

George

[EzCheese]

Are there any shares left?

Thanks.

Yes there are 45 shares left and the miner has been paid for: https://bitpay.com/invoice?id=D9Dwo86bohtxt44u6K3Qdj

George

I'll take 28.  

Change of plans, had to use btc for a called in favor.  :/

[davideak]

When does the mining start?

[raller]

I will buy the remaining 17 shares. Send me a PM to arrange payment.

[KnCMiningOp]

23 Shares left.

I've gotten a ton of emails and PM's please excuse me if I don't answer. I've been really busy. New funds are on their way, still working on things.

[raller]

I will buy those remaining 23 shares. Will you PM me the details on how to pay

[KnCMiningOp]

2 shares left. No USD at this point. First person to pay gets them: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

George

[MrPalmer]

2 shares left. No USD at this point. First person to pay gets them: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

George

2 shares bought.  Payment sent.

TX-ID:  a16af35490ec91a435a826fe5849cf75a1b21118b5bc9397633453b137e6931b

Thanks, George!

[KnCMiningOp]

2 shares left. No USD at this point. First person to pay gets them: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD

George

2 shares bought.  Payment sent.

TX-ID:  a16af35490ec91a435a826fe5849cf75a1b21118b5bc9397633453b137e6931b

Thanks, George!

Got it. GB6 is closed. I'll be announcing new funds today.

[KnCMiningOp]

New funds are up: https://bitcointalk.org/index.php?topic=399449

[pkbudz]

How soon should we expect shipping /hashing to get started on GB6, any sort of estimate?

[crackfoo]

Any thoughts when this will come online?

[KnCMiningOp]

Any thoughts when this will come online?

Well KnC's site shows an updated shipping ETA: "Shipment begins in Q2 of 2014"

Hopefully our earlier orders will ship before that as the above shipping ETA is posted on the Second Neptune batch: https://www.kncminer.com/products/neptune-second-batch

Which really is the 3rd batch IMO. Since the pre-public was the real first batch then the public $13K and now they are $10K again.

George

[MrPalmer]

Just checking in.  Any news?

[ipxtreme]

Any thoughts when this will come online?

Well KnC's site shows an updated shipping ETA: "Shipment begins in Q2 of 2014"

Hopefully our earlier orders will ship before that as the above shipping ETA is posted on the Second Neptune batch: https://www.kncminer.com/products/neptune-second-batch

Which really is the 3rd batch IMO. Since the pre-public was the real first batch then the public $13K and now they are $10K again.

George

any update to this?

[KnCMiningOp]

Any thoughts when this will come online?

Well KnC's site shows an updated shipping ETA: "Shipment begins in Q2 of 2014"

Hopefully our earlier orders will ship before that as the above shipping ETA is posted on the Second Neptune batch: https://www.kncminer.com/products/neptune-second-batch

Which really is the 3rd batch IMO. Since the pre-public was the real first batch then the public $13K and now they are $10K again.

George

any update to this?

Just checking in.  Any news?

Not since: https://www.kncminer.com/news/news-78

Just waiting...

[madpoet]

Frankly I would be asking for a refund.  This is getting well past the point of profitability.

[KnCMiningOp]

Frankly I would be asking for a refund.  This is getting well past the point of profitability.

I've sent an email to KnC in regards of how a refund works. Once they get back to me I think a vote would be in order.

[madpoet]

Thanks!

[madpoet]

Just checking in...

[Chef Ramsay]

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

[KnCMiningOp]

Just checking in...

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

I'm putting together a couple votes and will send out an email soon.

[howardb]

Just checking in...

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

I'm putting together a couple votes and will send out an email soon.

George, you said that on April 23rd and i've not seen a vote yet! You have been pretty good in past but communication is crucial at this overrun stage.

[ipxtreme]

Just checking in...

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

I'm putting together a couple votes and will send out an email soon.

George, you said that on April 23rd and i've not seen a vote yet! You have been pretty good in past but communication is crucial at this overrun stage.

I agree. I have not seeing anything either.

[howardb]

I wrote to KNC directly today requesting an update and got this  piece of string response:

Hi Howard,
We will be issuing an update very soon. Please keep an eye out for this on our website.
Med vänlig hälsning |  Best regards
Kurt Radcliffe
Kncminer
www.kncminer.com
Office: +46 8559 253 20


I'm not optimistic on how this is going at all.

[KnCMiningOp]

Just checking in...

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

I'm putting together a couple votes and will send out an email soon.

George, you said that on April 23rd and i've not seen a vote yet! You have been pretty good in past but communication is crucial at this overrun stage.

Just checking in...

If refunded, are the reinvestment unit funds gonna stay as is or divvied out to original members?

I'm putting together a couple votes and will send out an email soon.

George, you said that on April 23rd and i've not seen a vote yet! You have been pretty good in past but communication is crucial at this overrun stage.

I agree. I have not seeing anything either.

I wrote to KNC directly today requesting an update and got this  piece of string response:

Hi Howard,
We will be issuing an update very soon. Please keep an eye out for this on our website.
Med vänlig hälsning |  Best regards
Kurt Radcliffe
Kncminer
www.kncminer.com
Office: +46 8559 253 20


I'm not optimistic on how this is going at all.

I know I did and I've made some progress, but with KnC being so close to final numbers, us still looking for hosting and BTC going up. There are so many variables to consider. I'm trying to wait until they release the final numbers so that we can make that much more of an educated decision. Rather than on what if's and speculation. I ask that everyone has a little patience, if the final vote is to liquidate then so be it we will and you will get your equal share. KnC has stated that they will issue a refund up until they are shipping. Just like last time they had their final numbers a few weeks before shipping so that leaves us with plenty of time to vote.

George

[howardb]

George, excuse my ignorance, but what 'final numbers' are you talking about? and how do they affect us?

[KnCMiningOp]

George, excuse my ignorance, but what 'final numbers' are you talking about? and how do they affect us?

The Neptunes final power draw and hash rate. They affect us because it matters what we will see in terms of BTC and what we need for hosting.

[howardb]

George, excuse my ignorance, but what 'final numbers' are you talking about? and how do they affect us?

The Neptunes final power draw and hash rate. They affect us because it matters what we will see in terms of BTC and what we need for hosting.

Ok, I understand what you mean now, however, I'm one of I believe several, that are of the opinion, at this stage, this late in the difficulty war that this kit is most unlikely to even give an ROI, so would like a vote on refund to take place without further delay. Could you organise that please?

I presume refunds are on an original  $ basis buying back BTC at current market rate? If so, if we had pressed ahead with this a month ago we would of been significantly better off in BTC terms.

[madpoet]

Agreed  

[howardb]

George what's the delay on the vote? If they ship the kit then we will be deprived of the opportunity to vote on refund, and that won't go down well!

[KnCMiningOp]

George, excuse my ignorance, but what 'final numbers' are you talking about? and how do they affect us?

The Neptunes final power draw and hash rate. They affect us because it matters what we will see in terms of BTC and what we need for hosting.

Ok, I understand what you mean now, however, I'm one of I believe several, that are of the opinion, at this stage, this late in the difficulty war that this kit is most unlikely to even give an ROI, so would like a vote on refund to take place without further delay. Could you organise that please?

I presume refunds are on an original  $ basis buying back BTC at current market rate? If so, if we had pressed ahead with this a month ago we would of been significantly better off in BTC terms.

Agreed  

George what's the delay on the vote? If they ship the kit then we will be deprived of the opportunity to vote on refund, and that won't go down well!

Guys,

I understand your worry and I have those same worries sometimes, but I look at the numbers and check this out:

Mining start: 8-1-14
Monthly Electric and Rent: ~$1500
Diff increases 15%
THash: 30
BTC price: $650

We Roi in about 100 days. We found a place that was a warehouse and they have 800 amps of power and a closet right next to the room with the electric panel. They are willing to rent it out to us for under $300 a month plus electric and have space between the ceiling and the roof that they will allow us to use for ventilation. This place is perfect for hosting these Neptune's and if the electric comes in around what it did at the last couple places we might have a great deal. Before we sign any agreements we will put it up to a vote. Also KnC's most recent news update said they will update us on when they will start shipping. We all want to make a few bucks on this, but we can't make a decision with out knowing all the facts. We are so close to knowing so much more. So once again I must ask for your patience.

George

[howardb]

George, excuse my ignorance, but what 'final numbers' are you talking about? and how do they affect us?

The Neptunes final power draw and hash rate. They affect us because it matters what we will see in terms of BTC and what we need for hosting.

Ok, I understand what you mean now, however, I'm one of I believe several, that are of the opinion, at this stage, this late in the difficulty war that this kit is most unlikely to even give an ROI, so would like a vote on refund to take place without further delay. Could you organise that please?

I presume refunds are on an original  $ basis buying back BTC at current market rate? If so, if we had pressed ahead with this a month ago we would of been significantly better off in BTC terms.

Agreed  

George what's the delay on the vote? If they ship the kit then we will be deprived of the opportunity to vote on refund, and that won't go down well!

Guys,

I understand your worry and I have those same worries sometimes, but I look at the numbers and check this out:

Mining start: 8-1-14
Monthly Electric and Rent: ~$1500
Diff increases 15%
THash: 30
BTC price: $650

We Roi in about 100 days. We found a place that was a warehouse and they have 800 amps of power and a closet right next to the room with the electric panel. They are willing to rent it out to us for under $300 a month plus electric and have space between the ceiling and the roof that they will allow us to use for ventilation. This place is perfect for hosting these Neptune's and if the electric comes in around what it did at the last couple places we might have a great deal. Before we sign any agreements we will put it up to a vote. Also KnC's most recent news update said they will update us on when they will start shipping. We all want to make a few bucks on this, but we can't make a decision with out knowing all the facts. We are so close to knowing so much more. So once again I must ask for your patience.

George

Hi George, my concern is the reason KNC have said they will "provide all the final facts when they start shipping" is because when they start shipping refunds are nolonger a possibility! So once we know, we nolonger have a choice!
Where did you get the 8-1-14 date from? i've not seen anything from them directly. Also if your 15% difficulty increases happen to be 20% we are well and truly stuffed.

Also, could you elaborate/show calcs for the above ROI, is it $ or BTC based return? We paid in BTC so i'll be looking at the BTC ROI as the only valid comparison (otherwise we would be aswell sitting on the BTC and riding the price increase!).

Sorry if I sound frustrated, I've just gotten used to shouting at the Dyslexiczombie group lately over the f*cked up Black Arrow buy. If you provide the above info, and tell me you are convinced this is still a positive BTC return, then i'll trust your judgement and let it ride. But I have to say, my gut is saying bail.

[KnCMiningOp]

Hi George, my concern is the reason KNC have said they will "provide all the final facts when they start shipping" is because when they start shipping refunds are nolonger a possibility! So once we know, we nolonger have a choice!
Where did you get the 8-1-14 date from? i've not seen anything from them directly. Also if your 15% difficulty increases happen to be 20% we are well and truly stuffed.

Also, could you elaborate/show calcs for the above ROI, is it $ or BTC based return? We paid in BTC so i'll be looking at the BTC ROI as the only valid comparison (otherwise we would be aswell sitting on the BTC and riding the price increase!).

Sorry if I sound frustrated, I've just gotten used to shouting at the Dyslexiczombie group lately over the f*cked up Black Arrow buy. If you provide the above info, and tell me you are convinced this is still a positive BTC return, then i'll trust your judgement and let it ride. But I have to say, my gut is saying bail.

The 8-1-14 date comes from me assuming that they will have shipped out by then and be mostly done. That is 7 weeks away and with them having tape out they are close.

The 15% diff change comes from taking the average diff. increase over the last 3 months, it has been 15% and 17% over the last 6 months so you can see it is dropping.

I see the same fear and doubt all over the forums and point to Warren Buffets: "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

George

[howardb]

Hi George, my concern is the reason KNC have said they will "provide all the final facts when they start shipping" is because when they start shipping refunds are nolonger a possibility! So once we know, we nolonger have a choice!
Where did you get the 8-1-14 date from? i've not seen anything from them directly. Also if your 15% difficulty increases happen to be 20% we are well and truly stuffed.

Also, could you elaborate/show calcs for the above ROI, is it $ or BTC based return? We paid in BTC so i'll be looking at the BTC ROI as the only valid comparison (otherwise we would be aswell sitting on the BTC and riding the price increase!).

Sorry if I sound frustrated, I've just gotten used to shouting at the Dyslexiczombie group lately over the f*cked up Black Arrow buy. If you provide the above info, and tell me you are convinced this is still a positive BTC return, then i'll trust your judgement and let it ride. But I have to say, my gut is saying bail.

The 8-1-14 date comes from me assuming that they will have shipped out by then and be mostly done. That is 7 weeks away and with them having tape out they are close.

The 15% diff change comes from taking the average diff. increase over the last 3 months, it has been 15% and 17% over the last 6 months so you can see it is dropping.

I see the same fear and doubt all over the forums and point to Warren Buffets: "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

George

He also said "bitcoin is a mirage" so he's not top of my investor guru list. When it comes to bitcoin i'd rather stick with Lucile Ball's philosophy: "I'd rather regret the things I've done than regret the things I haven't done.", so on that basis, i'm still in! god help us.

[howardb]

Word just leaked, GB5 is up and running!

[Chef Ramsay]

Word just leaked, GB5 is up and running!

As are the reinvestment Neptunes. He's one of the few miner group owners that has a reinvestment fund, most just run out after the diff makes things obsolete. Good man.

[KnCMiningOp]

Word just leaked, GB5 is up and running!

Yup, 4 total of which 3 are the GB's and a personal one:

https://drive.google.com/file/d/0B7PW9Lus2VT5TE5BNWRzOC1YVTg/edit?usp=sharing
https://drive.google.com/file/d/0B7PW9Lus2VT5YndQbG1hbldrbUk/edit?usp=sharing
https://drive.google.com/file/d/0B7PW9Lus2VT5ZWplcXdVNmlUQnc/edit?usp=sharing

A little cable management is left to be desired, but we have time. Jupiter's will be moved here in the coming weeks.

Word just leaked, GB5 is up and running!

As are the reinvestment Neptunes. He's one of the few miner group owners that has a reinvestment fund, most just run out after the diff makes things obsolete. Good man.

Thanks.

[madpoet]

Any word on the extra boxes for the increases hashrate?

[tmu]

Any estimates on GB6?

[KnCMiningOp]

Any word on the extra boxes for the increases hashrate?

Nope, but I would expect them in August.

Any word on the extra boxes for the increases hashrate?

Nope, still shows Paid in the console.

[KnCMiningOp]

Any word on the extra boxes for the increases hashrate?

Nope, but I would expect them in August.

Any word on the extra boxes for the increases hashrate?

Nope, still shows Paid in the console.

A few days ago KnC gave me this update: "The 2nd batch of Neptune's will being shipping very shortly, the bonus miners can be expected towards the end of August."

[madpoet]

Crap... man I wish we had refunded. 

[ipxtreme]

Crap... man I wish we had refunded. 

+1

[railzand]

Crap... man I wish we had refunded. 

+1

+1
could we sell them on ebay?

[ipxtreme]

Where is the spreadsheet with the latest financials and dividends?

The one on page one of this thread shows March 2014.

[ipxtreme]

Where is the spreadsheet with the latest financials and dividends?

The one on page one of this thread shows March 2014.

I guess it's not being tracked anymore. hmmm...

[KnCMiningOp]

Crap... man I wish we had refunded. 

+1

+1
could we sell them on ebay?

We could, but at this point we are looking at getting maybe $5K per Neptune. Between the lower than expected difficulty and renting the units, we are looking in good shape.

Where is the spreadsheet with the latest financials and dividends?

The one on page one of this thread shows March 2014.

I guess it's not being tracked anymore. hmmm...

I haven't kept up with them since Hugo sold his shares and stopped putting them together. I will one day update them all, but having just moved and getting the room ready, I've been pretty busy.

[ipxtreme]

Crap... man I wish we had refunded. 

+1

+1
could we sell them on ebay?

We could, but at this point we are looking at getting maybe $5K per Neptune. Between the lower than expected difficulty and renting the units, we are looking in good shape.

Where is the spreadsheet with the latest financials and dividends?

The one on page one of this thread shows March 2014.

I guess it's not being tracked anymore. hmmm...

I haven't kept up with them since Hugo sold his shares and stopped putting them together. I will one day update them all, but having just moved and getting the room ready, I've been pretty busy.

Thanks for the update. I would vote to sell.

[KnCMiningOp]

GB6 is online as of last night.

[crackfoo]

GB6 is online as of last night.

great. Where do we go to verify our payout address?

[madpoet]

Any sign at all when we will get the extra capacity they owe us? 

[ipxtreme]

GB6 is online as of last night.

when will the payouts start on GB6? I have shares I havent received yet.

[crackfoo]

GB6 is online as of last night.

when will the payouts start on GB6? I have shares I havent received yet.

I've received 2 payouts from GB6 already...

You should go check your address in their system.

[KnCMiningOp]

GB6 is online as of last night.

when will the payouts start on GB6? I have shares I havent received yet.

You should have gotten a couple payments already... Did you check to make sure the right address is setup?

[ipxtreme]

GB6 is online as of last night.

when will the payouts start on GB6? I have shares I havent received yet.

You should have gotten a couple payments already... Did you check to make sure the right address is setup?

My address is the same for GB5. I get those payments. Is it different? Actually I meant to say GB4 and GB5. Not GB6.

George when did GB4 start being paid? How about GB5?

[madpoet]

We haven't gotten the extra capacity we were supposed to be compensated with by KnC and the returns are miserable now.  We made an awful mistake not refunding.

[ipxtreme]

George, whats going on on with this group buys?

[madpoet]

I've emailed a couple times no response.  Got my payout today but it's pretty bad.  The double capacity would at least be helping now.

[KnCMiningOp]

George, whats going on on with this group buys?

Still waiting on KnC. I emailed them last week and they said: "The additional miner is due for shipping after batch 3 Neptune miners have been shipped. We will likely know more very soon."

I've emailed a couple times no response.  Got my payout today but it's pretty bad.  The double capacity would at least be helping now.

Sorry for not getting back to you. I agree it would help a lot right now.

[madpoet]

I have to say I don't understand why there's no outrage here.  KnC owes us multiple units and has cost us a ton of mining time.  Why am I the only one that seems pissed?

[Chef Ramsay]

I have to say I don't understand why there's no outrage here.  KnC owes us multiple units and has cost us a ton of mining time.  Why am I the only one that seems pissed?

I'd forgotten all about this, thanks for bringing this back to light.

[ipxtreme]

I have to say I don't understand why there's no outrage here.  KnC owes us multiple units and has cost us a ton of mining time.  Why am I the only one that seems pissed?

I'd forgotten all about this, thanks for bringing this back to light.

Whats up with this George?

[madpoet]

Still nothing.  No units, no overall communication from George, this has gone downhill .

[Chef Ramsay]

Still nothing.  No units, no overall communication from George, this has gone downhill .

The last payment he made was on the 28th of last month so he might've turned the rigs off and perhaps lost patience with KNC and wrote them off. Wish there was a positive way out of this but I doubt it at this point.

[railzand]

More news.

Bonus netpune on the way and will arrive tomorrow.

Sadly for me, my original one was turned off as it costs more to run than it makes, so it's useless.

Is this the first report of a bonus neptune in the wild?

from the knc thread. more junk possibly incoming? let's wrap this all up on ebay or something

[Chef Ramsay]

More news.

Bonus netpune on the way and will arrive tomorrow.

Sadly for me, my original one was turned off as it costs more to run than it makes, so it's useless.

Is this the first report of a bonus neptune in the wild?

from the knc thread. more junk possibly incoming? let's wrap this all up on ebay or something

It's been so long that I'm not exactly sure of the terms we're supposedly under but aren't we due more than just another Neptune? Not sure if George shut the stuff down or he kept the original coin limit to where it was and thus it just takes longer to justify making regular payments as things move forward. Also, when the next bull market truly manifests itself and the prices become more attractive then it could make sense to use this extra equipment (if we get it) to churn out some level of coinage. just a thought.

[ninjaboon]

George is missing?

[Chef Ramsay]

This whole thing looks like a wrap/mining eq shut down for good and no payments in well over a month. Sure would be nice to get an update and a boost to the hash power.

[KnCMiningOp]

Hi, I posted and update last week here: https://bitcointalk.org/index.php?topic=348054.msg10342345#msg10342345