Welcome to Felipeo and pajak666 KnC Titan - 100 Mh/s LTC Miner group buyStatus updates:
19-03-2014[21:35:00 CET] - Start of this group buy
1. Why a Group Buy?According to KnC newsletter announcement:
All
OK, so the day is finally here. We can now officially launch our first product dedicated to scrypt mining.
The Scrypt mining market has grown over the last 6 months and we have been watching it very closely. The time is now right for the launch of our new offering.
The device is being called Titan and is available here. The same team and partners have been working together again. With their expertise and speed we expect to ship titan before the competition and have a product that outperforms their offerings.
The details of the device we can reveal today are as follows:
- Minimum 100/MH/s of performance. (likely to increase as we get further down the development path)
- Uses a Standard ATX power supply (customer supplied ATX).
- Based on the existing Jupiter form factor but will have blades containing numerous chips inside.
- Shipment begins in Q2/Q3 of 2014.
We will keep you all updated as the development progresses.
For those of you wanting to convert an existing Neptune order to a titan order please contact customer service for assistance.
as for other news, We passed a huge milestone in the progress of Neptune last month when we passed the "tape out" stage of the production. We are now in the foundry stage and as soon as the chips arrive we will let you all know. More info about the tape out is available here.
Thanks
KnCMiner Team
KnC will prepare Titan to send 06-09.2014 and we want to give the opportunity to participate all kind of miners especially with smaller crypto-wallets.
2. Whats terms of group buy?Standard GB procedure - see point 12.A
Participants will be able to buy shares, one share will be 1% of delivered by KnC hashing power (less hosting fee).
3. RemainderOnly send payments from an address you control (i.e. you can sign with it). If you send from exchanges, you risk loosing your funds since you can't prove you sent them. If you bought shares pay attention that your address is in the list that shows the payments with the correct amount of shares. If something looks wrong you need to proof that you are the owner of that address. You have to be able to sign a message with your sending address to proof that you are the owner off that address (see 13.B).
The wallet Multibit cant sign messages. In case you did an error there it should be possible to import your addresses into a wallet that can sign messages and then sign a message with your sending address.
4. Order Status*Will be announced here*
5. RefundsYour orders are binding after your funds have been used to pay for a unit. Before that (while coins are piling up for the next device), you can demand for a refund and will get it paid back in full.
In case KnC stops selling units all collected bitcoins will be transferred back to the sender.
6. Where you from?We located in Szczecin - Poland, not far from Berlin and on other site of Baltic sea to Sweden.
7. Who are we?We are Polish private entrepreneur. I run my own registered IT company - FPITM since 2012. If you want proof of my or my company identity i can provide all document you need.
FPITM is also part of Cryptopol, and we are responsible for
Bi•Fury | 5 GH/s USB Miner production and sale on our online shop
cryptostore.ioWe also run successful
BitFury hosting offer in our BITfarm mining operation.
8. The device details from KnC homepage:
9. PricingToday (19.03.2014) device price was 16.63 BTC with delivery, we count it like 17 BTC (because price fluctuations and additional connecting cost, but all transaction and orders will be transparent and over payed BTC will be split with first dividends, same like over payed cost will be split between shareholders).
A: For all our HOSTING service we asking for a 12% of hashing power.
All transaction will be collect in
BTC 1 share will be 1% of device hashing power with price
0.17 BTC.
B: In the case that the shipment from KnC will be stopped by customs and a fee has to be paid to get it back, all investors pay the needed fee to free the devices according to the amount shares a buyer owns. No additional fee is taken for this(i never pay any customs inside EU, but i want to have this statement here to be sure you understand some risk).
C: Titan devices will expand our BITfarm Mining Operation and we will mine 24/7 like now, when mining will be not profitable anymore, we will attempt to sell the miners or find another use for them. Any proceeds thereof will be distributed as dividend.
We believe the gear should be able to run 24 months, but since there are no working devices yet we simply don’t know. In case of hardware failure we will try to repair or replace the machine. Any costs involved will be deducted from payment as costs.
D: Dividends
Dividends will be paid to address which has been used to pay for shares, if you wish to change payout address please send signed message(see point 12B).
Payouts will take pool we use with share auto split (or we do it other way, max double week pay outs). Statements will available in created online sheet for investors.
Power rate in Poland is 0.19$/ kWh
All transactions and orders will be transparent.
10. ReservationNo reservations. If you pay and give me the details you are in. Reservations wouldn't be fair against the others. And as long as its possible to order devices we will order next everytime. The blockchain is the indisputable proof of your payment.
11. OrderingA: This is a preorder hosting offer lead time of 3+ month in the current sentiment takes ages. We can right now observe the dramatic exchange rate fluctuations, and we might also see some of the competing LTC ASIC manufacturers succeed and flood the market with cheaper solutions. Before you order, please do your risk analysis.
We just don't take responsibility of KnC missed they delivery or device spec.
B: If you still want to buy and are fine with the above pricing model, then you will have to participate in the risk and pay your order upfront. If you understood the risk-factors you should clearly understand why we can't afford to charge you in 3 month.
C: There is one common payment address per device/100 shares. The actual address is:
Only send from an address you can sign a message with. Otherwise a dispute cant be won. How to sign/verify messages?.
Why verify messages? In case another person claims that your payment is his payment you have to be able to prove that the address you sent from is yours.
Make sure you copied the correct address before clicking on send. Compare first, last and some middle digits of the copied address to prevent errors.
12. To buyA:
select your number of share N in steps of 1, starting from one, with 100 shares per device, we have
15 devices in order queue(all below #15700) and will order next one if will be demand and KnC will take more orders.
send the total amount (C = N * 0.17) ->
BTC) to the given address
post or PM (if you want to stay anonymous) me your order in the following format:
<payment time>; <forum nick>; <N>; <C>; <sending address>
ensure the sending address is under your control, so you can sign with it in case of disputes. How to sign/verify messages?.
if your wallet application does not let you select the sending address and sends from multiple, please post only one of them (and keep the address for a while)
Sign your username as message when you will be asked for it(see point 12B).
B: SIGNING/VERIFYING
- Copy the sending address from which you sent with to the group buy. If you mean that the sending address doesn't look like yours its probably a change address. This address is yours of course when you sent Bitcoins with it. If you don't know the address then go to the transaction, where you sent Bitcoins to the group buy, and check the details. There is a transaction-id. Copy this t-id and put it into the form field at blockchain.info. Then you can see the sending address(es) you sent the Bitcoins with.
- Choose "sign messages" in your wallet.
- Copy the sending address in the field at the top where the address has to be.
- Put your forums username in the message field. (If possible use only your username and not more signs or words to prevent errors while sending the info via pm or while verifying.)
- Click at sign.
- The signatur IS NOT stored in Bitcoin network (blockchain) and isn't automatically transmitted to me. The signation only creates data, the signature, that is the long string at the bottom that ends to =. In order i can verify the sending address you need to send me the signature. See next point.
- Create a pm and set up two code tags. Like this here:
Example-Code-Tag (Created with BBCode, that is the number sign on top of PMs or Posts while creating them):
This rectangle is a code-tag created with the hash-button above
the textfield when creating a pm or a post.
Put the message and the signature each in such tag.
- The code tags are important so that while sending the pm no wrong signs come to it that could make the message or the signature faulty.
- In the first codetag put in the signed message, for example your username. IMPORTANT: Upper- and Lowercase does matter. You have to verify the exact same text you used for signing.
- In the second codetag put in the created signature. Please be careful to copy all signs of the signature. For example use ctrl+A to mark all signs, then ctrl+C to copy them.
- Go to Verify signed messages via website and put in your username (your message) and your signature into the fields. To be sure all is copied correctly first go in the field with the mouse, click ctrl+A to mark all the old text, then click ctrl+V to overwrite all marked text. Klick "Verify Message" and see that the sending address comes out that you signed the message with.
- If that happened successfully send the pm.
- As soon as i verified the signature and message and got the correct sending address out of it you will be verified.
- Who is using armory knows that the result of signing is different. Its a block of text. Simply send me that block. I can verify it.
- Here a video tutorial to sign with the normal Wallet: Bitcoin-QT signing
- Here a video tutorial to sign with a Onlinewallet: blockchain.info wallet signing
C: The buying window opens now and doesn't have an end as of now.
D: Number of ordered device will able with demand and KnC ordering capabilities. The coins moved to the next orders can be refunded of course if the buyer doesn't want to wait for the other .
13. Confirmation of orderNo personal confirmation will be given. If you want to check wait for the next list with orders and search your address. If somethings not right contact me. Remember that list is final confirmation.
We will also prepare online sheet available for investors with all calculation.
14. EscrowThis is a preorder and we need to pay for orders, so escrow will be huge hassle and loose of time.
We are verified sellers and run on line store with thousand succeed orders from clients allover the world.
You can be sure your Bitcoins will used only for pay for KnC devices or will be refunded.
15. CommunicationI live in CET Timezone. Ill try to communicate as fast as possible.
Please use PM for first communication.
Of course i don't have time everytime. Please be patient when im not around for some time.
