KNC Neptune Refund

[StewieG]

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

[bobsmoke]

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

That would be one of the black swan predictions for 2014. What happens if BTC crashes and everyone wants to refund their neptune orders...

In case you did the refund please let the community know if you manage to do it.

[StewieG]

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

That would be one of the black swan predictions for 2014. What happens if BTC crashes and everyone wants to refund their neptune orders...

In case you did the refund please let the community know if you manage to do it.

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!!!)

[RickJamesBTC]

Buy back twice what you spent in bitcoin now. As the price goes back up, you will have received your Neptune for free. How do people not get this!

[descarte]

they will close down if everyone wants a refund. KNC shuts down? something unimaginable...

[minternj]

At current btc price roi in fiat questionable. Gonna be interesting.

[Zaghomat]

Refund is obviously the best move now. there is no way you're going to mine 20-25 bitcoin with your Neptune, even with the most optimistic projections.

[Jaymax]

Buy back twice what you spent in bitcoin now. As the price goes back up, you will have received your Neptune for free. How do people not get this!

Because it's wrong - as the price goes back up, you won't have received a Neptune at all.

I'm frigging delighted I ordered & paid for my Neptune as the currency was peaking relative to USD.  It cost me a lot less coin than if they announced it today (and I might not have been able to afford it if they did)

Sure, you'll have your coins, and you might cash one in from time to time, or you might not, but at least you'll have them, right?

Whereas if you have an actual Neptune, as the price goes back up, not only will you have received your Neptune for free, but you'll ALSO get a significant income on top of it, for a while anyhow.  How do people not get this?

[Jaymax]

Refund is obviously the best move now. there is no way you're going to mine 20-25 bitcoin with your Neptune, even with the most optimistic projections.

Really? That's what you get for slacking off in math class I guess.

[Anddos]

Now i understand why knc sold hardware and not just mined them self,but they might have big big problems if people want refunds now and they used that money to buy supplys with.

[Zaghomat]

Refund is obviously the best move now. there is no way you're going to mine 20-25 bitcoin with your Neptune, even with the most optimistic projections.

Really? That's what you get for slacking off in math class I guess.

Well show me your projections then.  an optimistic one for me is 20% increase per difficulty change and early march delivery. A pessimist one is 30% increase and june delivery and in both case you wont mine 20 bitcoins with the neptune.

[clenell]

Refund is obviously the best move now. there is no way you're going to mine 20-25 bitcoin with your Neptune, even with the most optimistic projections.

Really? That's what you get for slacking off in math class I guess.

Well show me your projections then.  an optimistic one for me is 20% increase per difficulty change and early march delivery. A pessimist one is 30% increase and june delivery and in both case you wont mine 20 bitcoins with the neptune.

lol, even at a difficulty of 2.75billion a 3th machine will bring in over .5btc a day. that's a very pessimistic increase in difficulty and you are telling me a neptune wont mine 20btc? what math did you fail?

[FeedbackLoop]

lol, even at a difficulty of 2.75billion a 3th machine will bring in over .5btc a day. that's a very pessimistic increase in difficulty and you are telling me a neptune wont mine 20btc? what math did you fail?

Not wanting to go too much off topic here but a diff of 2.75 B should be easily hit long before March. If not I invite you to bet heavily on the no side of this bet:

http://bitbet.us/bet/619/bitcoin-difficulty-at-or-above-2b-before-feb/

Notice it states 2B before February.  Thanks!



Also, this is my favorite calculator:

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

I think I should promote it seeing that there are a lot of new people using calculators with diff increases by the year and so on.

[Syke]

lol, even at a difficulty of 2.75billion a 3th machine will bring in over .5btc a day. that's a very pessimistic increase in difficulty and you are telling me a neptune wont mine 20btc? what math did you fail?

And that's your failure. The difficulty isn't going to cap at 2.75B. It's going far beyond that before even a single Neptune ever turns on.

[minternj]

The difficulty doesn't freeze the day you get your miner. .5 a day becomes .4, .3 .2. 1 , .05, etc very quickly. With so many TH miner offerings coming out in Q1/Q2 the projections of exponential difficulty rises continuing is very probable.

[Zaghomat]

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..

[kendog77]

If the price of btc tanks and knc gets flooded with refund requests, knc will simply change their refund policy and start denying refunds. Also, keep in mind that it takes 5-10 business days for a requested refund to reach your bank account, do by the time the money gets to your account the price of btc may have changed dramatically.

[clenell]

lol, even at a difficulty of 2.75billion a 3th machine will bring in over .5btc a day. that's a very pessimistic increase in difficulty and you are telling me a neptune wont mine 20btc? what math did you fail?

Not wanting to go too much off topic here but a diff of 2.75 B should be easily hit long before March. If not I invite you to bet heavily on the no side of this bet:

http://bitbet.us/bet/619/bitcoin-difficulty-at-or-above-2b-before-feb/

Notice it states 2B before February.  Thanks!



Also, this is my favorite calculator:

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

I think I should promote it seeing that there are a lot of new people using calculators with diff increases by the year and so on.

interesting calculator. thanks (i think)

[Zaghomat]

Also, this is my favorite calculator:

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php

I think I should promote it seeing that there are a lot of new people using calculators with diff increases by the year and so on.

+1 This is what I use and it's really good

[kendog77]

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..

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.