[2014-01-24] Cointerra Update | Bitcointalksearch.org

Carlton Banks

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Quote from: sickpig on January 30, 2014, 06:56:41 AM

Quote from: DPoS on November 18, 2013, 02:51:45 PM

Buying KNC miners is like storing your BTC in a bank that only lets you withdraw a certain amount per day. Helps to keep you in the game without selling everything at the first 20% jump.

- buy a miner is another way to "buy" bitcoin without the need to wire money to an exchange or any other
(not very transparent) actors that provide services to enter the btc world.

I prefer your analogy to DPoS's. You're selling electricity in exchange for hashing power, in exchange for shares, in exchange for bitcoin, which are priced in difficulty Cheesy

The counter party risk is much preferable to the exchanges right now, that's definitely true (I'm not as convinced about the MtGox doomsday predictions as some people, but they've definitely got medium-term problems to deal with)

sickpig

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Quote from: Carlton Banks on January 29, 2014, 07:03:58 PM

Quote from: glendall on January 29, 2014, 06:40:56 PM

Pre-orders are risky business. The odds are against it working out. For every KNC you have , I dunno, about 5 companies that don't deliver, and 3 companies that under-deliver, and 2 companies that are super-late, like Avalon.

The irony of that statement is that KNC customers only made profits if they paid in fiat. The majority of Avalon customers at least made some profit (but the last batch of them got royally screwed). The fiat KNC customers can't take alot of comfort in that IMO, just buying bitcoins with their money would have been more profitable.

This is precisely how think about it, modulo two minor nitpicks:

- like DPoS like to say:

Quote from: DPoS on November 18, 2013, 02:51:45 PM

Buying KNC miners is like storing your BTC in a bank that only lets you withdraw a certain amount per day. Helps to keep you in the game without selling everything at the first 20% jump.

- buy a miner is another way to "buy" bitcoin without the need to wire money to an exchange or any other
(not very transparent) actors that provide services to enter the btc world.

Carlton Banks

legendary

Activity: 3430

Merit: 3083

Quote from: glendall on January 29, 2014, 06:40:56 PM

Pre-orders are risky business. The odds are against it working out. For every KNC you have , I dunno, about 5 companies that don't deliver, and 3 companies that under-deliver, and 2 companies that are super-late, like Avalon.

The irony of that statement is that KNC customers only made profits if they paid in fiat. The majority of Avalon customers at least made some profit (but the last batch of them got royally screwed). The fiat KNC customers can't take alot of comfort in that IMO, just buying bitcoins with their money would have been more profitable.

glendall

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Merit: 1018

Buzz App - Spin wheel, farm rewards

Pre-orders are risky business. The odds are against it working out. For every KNC you have , I dunno, about 5 companies that don't deliver, and 3 companies that under-deliver, and 2 companies that are super-late, like Avalon.

Gamer67

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тσ ¢σιи σя иσт тσ ¢σιи?

Don't believe the hype !

bluearisto

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http://cointerra.com/update-engineering-production-status/

After reading that, I like this one guys comment from forum.kncminer.com
OrderAmongChaos:
"Cointerra is also reporting their miners are 80% the hashrate and 121% the power draw they thought they would be. I'm really glad I didn't order from them (I almost ordered a 2 TH/s miner from them for $15k!) as their "dream team" turned out to be a laughing stock."

Topic: [2014-01-24] Cointerra Update (Read 642 times)