KNC Neptune Refund

[minternj]

People keep saying that but that parabola keeps going vertical.

[Zaghomat]

No it won't be 30% forever but it will be for at least the next 6 months if not more. You realize that the Neptunes order only (2400 units) add 7200 TH/s to the network? that almost the actual hashrate.

[kendog77]

No it won't be 30% forever but it will be for at least the next 6 months if not more. You realize that the Neptunes order only (2400 units) add 7200 TH/s to the network? that almost the actual hashrate.

By the time Neptunes hit the network, the difficulty will be a lot higher.

[Anddos]

What do you expect the price of btc to be when the neptunes hit?

[Zaghomat]

What do you expect the price of btc to be when the neptunes hit?

No clue, probably higher but it doesn't matter. If you buy mining equipment you should always look at your ROI in btc. If you want to speculate on btc just buy some.

[Syke]

Oups, i calculated for April, not March. So a early april delivery and 20% increase might get you 30-35 btc. A more realistic projections of 30% increase and march delivery will get you 12-16 btc. A June delivery and 30% increase will get you 2-4 btc..

Never ever calculate a shipping date as arriving early. The only thing KnC will deliver in March are more Jupiters. Even June is optimistic for Neptunes.

[DPoS]

The difficulty cannot keep going up 20-30% every 10 days. It will eventually level out because it is impossible to add that much hash power to the network that quickly once the difficulty is sky high. Exponential difficulty increases cannot continue forever.

just like the price can't keep flying up like some believe..
  @ $1000 per btc, and ~3600 btc produced daily, that is a boatload of new money needed to justify the total valuation.


 all the new red tape pretty much snuffed that out short term at least

[Rawbit]

Well I thought the same, what if everybody claims the refund? I mean I paid around 15 btc for around 15000$ and with a btc price of 560$ now I would rather buy btcs now than mine bitcoin at some point in the future? If everybody would do the same KNC would be broke or not? (I sure don´t want this to happen!!!)

How much do You want for this preorder? 1 Neptune or 2? Batch 1? Order #?

[testerx]

The difficulty cannot keep going up 20-30% every 10 days. It will eventually level out because it is impossible to add that much hash power to the network that quickly once the difficulty is sky high. Exponential difficulty increases cannot continue forever.

I suspect the difficulty will begin to level out around March of next year after most of the existing pre-orders are delivered, and the mining hardware situation stabilizes. Quite a few hardware manufacturers will likely fail before then.

It won't keep doing it forever but I think it will continue for quite a while.  It might slow down a bit in March but then all the manufacturers that are running behind schedule will hit and push it higher.

At least over the next 3 months it's going to be murder because the difficulty is already rising very rapidly with existing hardware being delivered (antminer, avalon 2, asicminer, Bitfury etc.) and now Hashfast and Cointerra as well as Bitmine are about to start dumping chips left and right and this is without counting the multiple Chinese ASIC manufacturers that are about to release their chips.  Then guys like Black Arrow will come online, etc.

I would honestly use something like 8 billion to estimate what difficulty will be by the time you get the Neptune, assuming there's no crazy issues with 20nm that make it super delayed (which is possible, and issues with 20nm take longer to fix).  Then you have to take a guess as to where BTC will be at that point, which is something that almost nobody can answer at this point, but all I can say is that it'd be insane to just assume it'll be worth more than 600 when it's tanking in front of us.  If you use something like $300 a BTC and 8 billion difficulty then ROI starts to look difficult.  If you are an optimist and use something like 5 billion difficulty and $400 a BTC it might eventually ROI but it's not going to be the quick money people are hoping for.

[Paladin69]

This is why I felt $10K was too much.  $14K one month later for 2nd batch ppl hurts.

I guess if all you care about is fiat and the price rebounds, then hurray.  The golden days of mining hundreds upon hundreds of BTC is gone.  People selling off their ability to mine now so they could get machines later seemed silly to me unless you are having luck selling pre-orders to suckers on ebay.

[xstr8guy]

What a bunch of wishy-washy fraidycats!  Grow some balls and tough it out.  Or better yet, quit mining and go "speculate" on the exchanges.  Good luck with that!  Leave the mining to those of us who aren't going to crap our pants every time there's a price dip.

Oh by the way, the current price is up almost $200 over yesterday's low.

[AFox]

Hi,
does anybody know how long it takes to get a refund for the Neptune? Does anybody have experience or even claimed the refund?

If you payed with BTC, you used bitpay. That means that KNC never saw your bitcoins.
You give your BTC to Bitpay and Bitpay gives $/€ to KNC.

If you ask for a refund, they don't even have to accept it, as nothing is specified in their terms and conditions : https://www.kncminer.com/pages/tandc
If they do, because they never saw your BTC, the refund would be in $/€.

[wpgdeez]

At 20nm this machine is built for the future if the power consumption to hash rate falls in line. I bought one of these hoping that it will remain profitable for a longer period of time, keeping me in the game for longer.

[Syke]

If you ask for a refund, they don't even have to accept it, as nothing is specified in their terms and conditions : https://www.kncminer.com/pages/tandc
If they do, because they never saw your BTC, the refund would be in $/€.

https://www.kncminer.com/categories/miners

All refunds will be refunded in dollars and you can refund up to shipment

It would be very bad if they started refusing refunds at this time.

[xstr8guy]

Lol, it sure quieted down in here since BTC rebounded nicely over the past 2 days.  See, the mass panic was all-for-naught.

But be prepared for the next "crash" and the next "rebound" followed by the next "bubble"... ad infinitum.  But for god's sake, don't PANIC!

[Kenshin]

Hi,
does anybody know how long it takes to get a refund for the Neptune? Does anybody have experience or even claimed the refund?

If you payed with BTC, you used bitpay. That means that KNC never saw your bitcoins.
You give your BTC to Bitpay and Bitpay gives $/€ to KNC.

If you ask for a refund, they don't even have to accept it, as nothing is specified in their terms and conditions : https://www.kncminer.com/pages/tandc
If they do, because they never saw your BTC, the refund would be in $/€.

They already said the refund will be in US$ when you agreed on the purchase. So nothing new there.

I think a lot of you should refund your Neptune order.

[Kenshin]

Lol, it sure quieted down in here since BTC rebounded nicely over the past 2 days.  See, the mass panic was all-for-naught.

But be prepared for the next "crash" and the next "rebound" followed by the next "bubble"... ad infinitum.  But for god's sake, don't PANIC!

I agreed. People who want to get involve with BTC need to have more balls. Or just buy bitcoin.

[minternj]

http://bitcoindifficulty.com/

is it me or is that line getting even more vertical?

[Syke]

http://bitcoindifficulty.com/

is it me or is that line getting even more vertical?

A great big steep exponential curve is what Bitcoinorama calls, "plateauing". LOL.

I said it would plateau a few weeks back and was laughed out of the thread, someone threatened to remind me about it to, 'saved for posterity' I believe.

[Flying Hellfish]

http://bitcoindifficulty.com/

is it me or is that line getting even more vertical?

And it's barely started.  It's gonna go FULL FUCKING RETARD for the next few months while all this 28nm pre-order shit eventually rolls out.