Scam Alert: KNC started cloud mining packages selling for 1/13 the Neptune price

[CozyLife]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

[odolvlobo]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

It is too bad that people paid $13,000 for KNC Neptunes that haven't started mining. It will mine around 10 BTC, which is worth less than half of that now.

BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

[CozyLife]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

It is too bad that people paid $13,000 for the KNC Neptune. It will mine around 10 BTC, which is worth less than half of that now.

BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

I'm not sure how you get 10BTC, but monthly you'll get a smidgen over 1.65BTC.

[zdaz14]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

It is too bad that people paid $13,000 for KNC Neptunes that haven't started mining. It will mine around 10 BTC, which is worth less than half of that now.

BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

Whats even worse is that is only 6 month contracts...at least Cex.io lets you buy and sell for indefinite periods of time...

[sifter]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

It is too bad that people paid $13,000 for the KNC Neptune. It will mine around 10 BTC, which is worth less than half of that now.

BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

I'm not sure how you get 10BTC, but monthly you'll get a smidgen over 1.65BTC.


This sucks a lot, I used to have a 50GH/s miner that pulled off this amount a month.

[iluvpie60]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

KNC is major scammers and people losts a lot of money on them. dont do business with any cloud hasing bs. the GHS price drops down almost every day and just keeps going down and down. unless bitcoin prices go back up your only going to lose money

[odolvlobo]

It is too bad that people paid $13,000 for the KNC Neptune. It will mine around 10 BTC, which is worth less than half of that now.
BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

I'm not sure how you get 10BTC, but monthly you'll get a smidgen over 1.65BTC.

I assume rising difficulty at the rate of 7% every 2016 blocks for the next year. Don't use the CoinWarz calculator. It assumes that the difficulty never changes. You might earn 1.4 BTC the first month, but you will earn much less in the following months. You will never earn 1.65 BTC monthly.

KNC is major scammers and people losts a lot of money on them. dont do business with any cloud hasing bs. the GHS price drops down almost every day and just keeps going down and down. unless bitcoin prices go back up your only going to lose money

The falling GH/s value is not the fault of KNC. You can't blame them for the difficulty increases.

[crazyivan]

There s no way to reach ROI with this KNC cloud mining offer. Real do not understand who buys this? Guess people who flunked math in elementary school.

[minerpumpkin]

Phew, I don't know if this really qualifies as a scam, but it definitely has a very strange aftertaste if those accusations really are true! People who pre-ordered a Neptune for FIAT indeed have lost the gamble when it comes to the BTC they're about to mine and the current Bitcoin price!

[inBitweTrust]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

Regardless, of the problems of pre-ordering, anyone who cares about Bitcoin should reframe from purchasing cloud hashing as it incentivizes bad behavior from ASIC manufacturers and doesn't address any problems with centralization.... plus its just stupid from an investment perspective... people should just buy bitcoins directly if they only care about making money.

[littlewizard]

This is a much better deal than the the Neptune, however, when i input 3TH into mining calculator, it gives 1.65 BTC per month.. so it  maybe better to directly buy Bitcoin with the money..
Just my opinion

[bitpop]

Wow never thought the cexio scam could be topped

[RawDog]

KNC hasn't yet finished shipping their $13,000 Neptunes

These guys are card-carrying thieves.  They used that $13,000 to build their data center while their customers got nothing.  Still no Neptune delivery.  All the while, they promised not to mine over 5% of what they sold to customers.  

On the day they announced the opening of this new Cloud Mining service, the promise not to mine over 5% was removed from the FAQ page of their website.  

Fucking Swedish Scum.  No less.

Now they hash at about 5% of the entire network - that is ALL the mining equipment EVERYONE made. 

Liars, cheaters and thieves. 

[CozyLife]

KNC hasn't yet finished shipping their $13,000 Neptunes

These guys are card-carrying thieves.  They used that $13,000 to build their data center while their customers got nothing.  Still no Neptune delivery.  All the while, they promised not to mine over 5% of what they sold to customers.  

On the day they announced the opening of this new Cloud Mining service, the promise not to mine over 5% was removed from the FAQ page of their website.  

Fucking Swedish Scum.  No less.

Now they hash at about 5% of the entire network - that is ALL the mining equipment EVERYONE made. 

Liars, cheaters and thieves. 

Wow... You're right. They did.

[odolvlobo]

This is a much better deal than the the Neptune, however, when i input 3TH into mining calculator, it gives 1.65 BTC per month.. so it  maybe better to directly buy Bitcoin with the money..
Just my opinion

Don't use that mining calculator. It doesn't account for difficulty changes. 3 TH/s will never generate 1.65 BTC per month.

[dankkk]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

It is too bad that people paid $13,000 for KNC Neptunes that haven't started mining. It will mine around 10 BTC, which is worth less than half of that now.

BTW, even KNC's price of $1.79 assumes a pretty optimistic prediction for the rise in the difficulty. I wouldn't pay more than $1.50 per GH/s.

Whats even worse is that is only 6 month contracts...at least Cex.io lets you buy and sell for indefinite periods of time...

The electric costs for the GH/s at cex will soon exceed the revenue they produce unless they find more efficient miners or the rate difficulty is increasing decreases substantially very soon.

[thiec]

6 month contract? 
Even its infinity, hard to tell when we have BEP, now only for 6 month.

Invest just for losing money, its worst than ponzi game

[tzortz]

I would never trust KNC again for whatever reason.

[Snorek]

After recent events they trustworthy rating is not the greatest. I would like to see this project of theirs works first, check some people's opinions and then judge.

[johncarpe64]

KNC hasn't yet finished shipping their $13,000 Neptunes, yet now they're offering 3 tiers of cloud hosting, including 3TH/s for less than $1,000 per month. (1/13 the cost of the Neptunes) Unlike the still shipping Neptunes, you don't have to pay for shipping or power costs.

Please discuss.

You are comparing the monthly cost of renting their hashpower to the overall cost of owning their machine. This is like comparing apples to oranges. It is not a fair comparison.

They are essentially trying to sell off excess miners that they were unable to sell.

I ran the numbers and you would be almost certain to not ROI at the rates KnC is offering.