3 TH/s Bitcoin Mining Hardware KL-YUG by KotakLabs - page 4.

plasmoske

sr. member

Activity: 308

Merit: 251

The realist

Lol typical scam. Photoshop case and even copied texts from other websites.

Paypal? Doesn't really mean nothing to be honest. Especially when this "company" has no background at all. They could just fake updates for 2 months and then just do a runner. Paypal wouldn't be able to do jack. He'll be living like a King literately in India.

Past 45 days for Paypal and chances of you getting a refund will be very slim (especially from someone in India).

Why people even fall for this shit time and time and time and time again just truly baffles me.

I mean who falls for techy bullshit words like:

ElectricityCutter™
Power Chill Cooling Technology™
KL-PARISHRAM™

It's almost as bad as:

FROSTBIT™
Cryonic Architecture™
On-board Liquid Nitrogen Generator XT™

Web whois also has privacy protect.

Quote

Hence, as a reputed firm in India known for its customer satisfaction and service we have adopted consumer-loving policies such as...

giletto

sr. member

Activity: 812

Merit: 250

Quote from: amer on November 24, 2013, 02:57:44 PM

Quote from: giletto on November 24, 2013, 01:23:14 PM

Quote from: amer on November 24, 2013, 11:21:22 AM

Quote from: bitcoinlord on November 24, 2013, 10:35:28 AM

Quote from: giletto on November 24, 2013, 08:16:06 AM

With the current difficulty of 609,482,679 you could generate in theory with 3TH/s about 0.1031 BTC/Hour or 2.474BTC per day.

I use this website for example:

http://bitcoinwisdom.com/bitcoin/difficulty

If calculate for delivery time in march next year, the average expected difficulty could been 5,941,344,136

Depend on this difficulty, the amount will decrease extremly:

0.01057BTC/Hour and 0.2537BTC per Day.

by March, BTC is worth around $1,500. It means around $350/day (based on 0.25BTC/day rate). $350/day x 30 days = over $11K.

If that is true, I would buy 100 3TH/s miners in a beat.

You don't seriously believe that we will be somewhere near 609m difficulty in 4 months, do you?

What is your expectation, that it's lower? Just watch the new asic machine and then the exponential trend. I guess in march next year something around 600m is not that much fiction...but, of course, nobody can look clear in the future.

I don't think you understand how difficulty works - it's based on the total mining pool. Every time someone turns on a miner, the next difficulty will go up. Think about all the other companies releasing miners between 30GH to 1000GH in the next 2 months. It's going to be above 2B difficulty by March and I'm being optimistic.

Please don't make statements on difficulty and hashrate if you don't understand the mechanics, it just confuses the new people.

Oh, you are a fortune-teller that you know the real total exponential amount in 4 month? I calculate with the current increase mister smartass. And i understand how the difficulty works, everybody with experience who read MY post will see, except you.

So lets see, how much you expect for march? Your 2B are much lesser then my 5.9B, isn't? Actually, if you able to read my post clear, i wrote exactly the same sentence of your repeat...

pwnyboy

full member

Activity: 125

Merit: 100

Quote from: americandesi on November 24, 2013, 09:01:36 PM

ACH facility means. If a merchant has USA paypal account and link their bank account with Paypal / provide them authorization.
That means, in the event that a user files a dispute or requests refund, then paypal can withdraw money from the bank account.
ACH facility is a two way fund transfer.

Something on those lines. But with Indian bank accounts, that is not possible.

P.S : Someone correct me if am wrong.

In addition:

Quote from: http://kotaklabs.com/products/kl-yug/

This is a Pre-Order Product which is not yet shipping. If you’re uncomfortable waiting until the development is complete and the product is shipped, do NOT pre-order this product. Perhaps undesirable, but this is a pre-order market.

This looks AWFULLY familiar. Where have I seen this? Oh yeah... on the website of another scammer, BFL: https://products.butterflylabs.com/600-gh-bitcoin-mining-card.html

Quote from: BFL

This is a Pre-Order product which is not yet shipping. If you're uncomfortable waiting until the development is complete and the product is shipped, do NOT pre-order this product. Perhaps undesirable, but this is a pre-order market.

In short, I'm calling scam.

americandesi

hero member

Activity: 518

Merit: 500

BTC < > INR & USD

Quote from: PenAndPaper on November 24, 2013, 06:31:08 PM

Quote from: americandesi on November 24, 2013, 06:11:27 PM

And there is no ACH facility offered by Indian Bank accounts. So the money transfer is just one way. From Paypal --> merchant's bank account

What do you mean by that. What is an ACH facility?
Anyway great post and way more useful than talking about power consumption and ROI of vaporware Roll Eyes

ACH facility means. If a merchant has USA paypal account and link their bank account with Paypal / provide them authorization.
That means, in the event that a user files a dispute or requests refund, then paypal can withdraw money from the bank account.
ACH facility is a two way fund transfer.

Something on those lines. But with Indian bank accounts, that is not possible.

P.S : Someone correct me if am wrong.

RoadStress

legendary

Activity: 1904

Merit: 1007

Quote from: americandesi on November 24, 2013, 06:11:27 PM

Word of Caution for all those want to place pre-order thinking they are protected by PAYPAL BUYER PROTECTION

...
So if you are placing the order thinking that you can request refund from paypal.. think again.!

Send an e-mail to PayPal to warn them about the potential scam?

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: americandesi on November 24, 2013, 06:11:27 PM

And there is no ACH facility offered by Indian Bank accounts. So the money transfer is just one way. From Paypal --> merchant's bank account

What do you mean by that. What is an ACH facility?
Anyway great post and way more useful than talking about power consumption and ROI of vaporware Roll Eyes

superduh

hero member

Activity: 602

Merit: 500

labcoin 2.0! alberto? jkjk

americandesi

hero member

Activity: 518

Merit: 500

BTC < > INR & USD

Word of Caution for all those want to place pre-order thinking they are protected by PAYPAL BUYER PROTECTION

If you are not aware, paypal works quite differently for Indian Merchants.
All the payments received by a Indian paypal merchant is automatically withdrawn to their Indian Bank account by end of every business day. This is due to a regulation put in place by Reserve Bank of India (RBI).

Eventhough the merchant needs to verify their account using a Indian Bank account AND a credit card. I doubt if the credit card he/she has used has a credit line more than a few hundred dollars.

And there is no ACH facility offered by Indian Bank accounts. So the money transfer is just one way. From Paypal --> merchant's bank account

So if 5 people order the mining rigs worth 3k and he closes the shop, paypal doesnot have anyway to refund the money as the money would have been automatically withdrawn to the merchant's bank account the day he received payment. Only thing paypal can do is charge his credit card to honor the refunds.

So if you are placing the order thinking that you can request refund from paypal.. think again.!

Xian01

legendary

Activity: 1652

Merit: 1067

Christian Antkow

Quote from: Unacceptable on November 24, 2013, 05:04:34 PM

20 amp 120 volt circuit=2400 watts(hopefully your circuit is 12AWG). So you stay below that by 20% for safety=480 watts=total draw should not exceed 1920 watts Grin

15 amp is usually standard around here for residential :/

Unacceptable

legendary

Activity: 2212

Merit: 1001

Quote from: Xian01 on November 24, 2013, 01:18:02 PM

*rolls eyes*

Well, you have to admit, it has been getting a bit boring around here, with a lack of fresh-new scams...

"-What is the power wattage?
About 1300-1600 Watts. With our constant research on implementation of EnergyCutter technology we are still trying to bring this barrier down."

Even then, how is this product going to ever run in an average household ?! I mean, plug a nightlight into that same circuit and you're liable to trip it.

20 amp 120 volt circuit=2400 watts(hopefully your circuit is 12AWG). So you stay below that by 20% for safety=480 watts=total draw should not exceed 1920 watts Grin

Sophokles

hero member

Activity: 1232

Merit: 516

Quote from: Vanderi on November 24, 2013, 10:03:54 AM

Quote from: Sophokles on November 24, 2013, 05:54:15 AM

Hello sock puppet. Welcome to the Forums! Your first post is a bit technical for a, well, first post. Isn't it?

Jerk.

That is all

Excuse me? If you actually think this is legit, feel free to order. Sorry about pointing out the blatantness of this scam attempt. So, go ahead. And please report back on your experience with this!

Matumaru

member

Activity: 73

Merit: 10

fyi... Last Diff jump around 19%...

smoothrunnings

hero member

Activity: 630

Merit: 501

Quote from: bitcoinlord on November 24, 2013, 10:35:28 AM

Quote from: giletto on November 24, 2013, 08:16:06 AM

With the current difficulty of 609,482,679 you could generate in theory with 3TH/s about 0.1031 BTC/Hour or 2.474BTC per day.

I use this website for example:

http://bitcoinwisdom.com/bitcoin/difficulty

If calculate for delivery time in march next year, the average expected difficulty could been 5,941,344,136

Depend on this difficulty, the amount will decrease extremly:

0.01057BTC/Hour and 0.2537BTC per Day.

by March, BTC is worth around $1,500. It means around $350/day (based on 0.25BTC/day rate). $350/day x 30 days = over $11K.

If that is true, I would buy 100 3TH/s miners in a beat.

Are you including the fact that the difficulty increases 40% every 10 to 15 days when you did your math? I doubt anyone will make $350/day x 30 days, it's simply not possible with your math.

amer

full member

Activity: 168

Merit: 100

Quote from: giletto on November 24, 2013, 01:23:14 PM

Quote from: amer on November 24, 2013, 11:21:22 AM

Quote from: bitcoinlord on November 24, 2013, 10:35:28 AM

Quote from: giletto on November 24, 2013, 08:16:06 AM

With the current difficulty of 609,482,679 you could generate in theory with 3TH/s about 0.1031 BTC/Hour or 2.474BTC per day.

I use this website for example:

http://bitcoinwisdom.com/bitcoin/difficulty

If calculate for delivery time in march next year, the average expected difficulty could been 5,941,344,136

Depend on this difficulty, the amount will decrease extremly:

0.01057BTC/Hour and 0.2537BTC per Day.

by March, BTC is worth around $1,500. It means around $350/day (based on 0.25BTC/day rate). $350/day x 30 days = over $11K.

If that is true, I would buy 100 3TH/s miners in a beat.

You don't seriously believe that we will be somewhere near 609m difficulty in 4 months, do you?

What is your expectation, that it's lower? Just watch the new asic machine and then the exponential trend. I guess in march next year something around 600m is not that much fiction...but, of course, nobody can look clear in the future.

I don't think you understand how difficulty works - it's based on the total mining pool. Every time someone turns on a miner, the next difficulty will go up. Think about all the other companies releasing miners between 30GH to 1000GH in the next 2 months. It's going to be above 2B difficulty by March and I'm being optimistic.

Please don't make statements on difficulty and hashrate if you don't understand the mechanics, it just confuses the new people.

rammy2k2

legendary

Activity: 1974

Merit: 1003

bla bla ... nice photoshop case ... maybe we will have a product in 1 year .. send money now .. no thanks

kotaklabs

newbie

Activity: 7

Merit: 0

Just in case you dont know mate,

If you asking the plug it's either 15 or 20AMPS

AMPS x Volts = Watts

20A x 110V = 2200W

An average 1.5ton Air Conditioner consumes about 1800W

The product will come with an instruction manual, just in case.

Quote from: Xian01 on November 24, 2013, 01:18:02 PM

*rolls eyes*

Well, you have to admit, it has been getting a bit boring around here, with a lack of fresh-new scams...

"-What is the power wattage?
About 1300-1600 Watts. With our constant research on implementation of EnergyCutter technology we are still trying to bring this barrier down."

Even then, how is this product going to ever run in an average household ?! I mean, plug a nightlight into that same circuit and you're liable to trip it.

Hello Friend,

All the technical specs, our datasheet, a fully working prototype youtube video, our partners, etc everything will be rolled out on our blog soon.

Meanwhile, you can also sign up for our newsletter for real time updates : https://kotaklabs.com/newsletter/

Quote from: RoadStress on November 24, 2013, 12:33:10 PM

Quote from: kotaklabs on November 22, 2013, 03:24:47 AM

As per the current work and research progress we are expecting to ship this hardware by end of March '14. There are no additional charges for shipment of the product and all shipments will be delivered via FedEx Express. However, the customer is liable to pay any customs/duties/taxes applicable in his country.

We accept that our competitors have already created lot of panic with anti-customer business policies such as No Refund, Accepting payments via sources which do not have any consumer protections,etc hence we only accept payment via PayPal/Credit Cards and are liable to issue a refund to our customers if we are not able to deliver them products as per the delivery deadline.

All further information about the product can be found at our website : http://kotaklabs.com/products/kl-yug/.

If you have any queries/suggestions, please feel free to drop us a mail at [email protected]

Have a great day!

All potential scams have shiny cases. This is getting really old.

Hey kotaklabs what technical details can you give about your chips? What node are they using? When are you going to tape out? Who is going to make your chips? What proof do you have for chips production?

giletto

sr. member

Activity: 812

Merit: 250

Quote from: amer on November 24, 2013, 11:21:22 AM

Quote from: bitcoinlord on November 24, 2013, 10:35:28 AM

Quote from: giletto on November 24, 2013, 08:16:06 AM

With the current difficulty of 609,482,679 you could generate in theory with 3TH/s about 0.1031 BTC/Hour or 2.474BTC per day.

I use this website for example:

http://bitcoinwisdom.com/bitcoin/difficulty

If calculate for delivery time in march next year, the average expected difficulty could been 5,941,344,136

Depend on this difficulty, the amount will decrease extremly:

0.01057BTC/Hour and 0.2537BTC per Day.

by March, BTC is worth around $1,500. It means around $350/day (based on 0.25BTC/day rate). $350/day x 30 days = over $11K.

If that is true, I would buy 100 3TH/s miners in a beat.

You don't seriously believe that we will be somewhere near 609m difficulty in 4 months, do you?

What is your expectation, that it's lower? Just watch the new asic machine and then the exponential trend. I guess in march next year something around 5,941,344,136 is not that much fiction...but, of course, nobody can look clear in the future.

Xian01

legendary

Activity: 1652

Merit: 1067

Christian Antkow

*rolls eyes*

Well, you have to admit, it has been getting a bit boring around here, with a lack of fresh-new scams...

"-What is the power wattage?
About 1300-1600 Watts. With our constant research on implementation of EnergyCutter technology we are still trying to bring this barrier down."

Even then, how is this product going to ever run in an average household ?! I mean, plug a nightlight into that same circuit and you're liable to trip it.

giletto

sr. member

Activity: 812

Merit: 250

Quote from: bitcoinlord on November 24, 2013, 11:33:43 AM

Quote from: giletto on November 24, 2013, 10:39:09 AM

Quote from: bitcoinlord on November 24, 2013, 10:35:28 AM

Quote from: giletto on November 24, 2013, 08:16:06 AM

With the current difficulty of 609,482,679 you could generate in theory with 3TH/s about 0.1031 BTC/Hour or 2.474BTC per day.

I use this website for example:

http://bitcoinwisdom.com/bitcoin/difficulty

If calculate for delivery time in march next year, the average expected difficulty could been 5,941,344,136

Depend on this difficulty, the amount will decrease extremly:

0.01057BTC/Hour and 0.2537BTC per Day.

by March, BTC is worth around $1,500. It means around $350/day (based on 0.25BTC/day rate). $350/day x 30 days = over $11K.

If that is true, I would buy 100 3TH/s miners in a beat.

If you are serious with your post, you are not the brightest light in math...

Jeez..get a grip. My calculations are for estimate only based on rough data here. Big difference. We do not control the difficulty calculations. Last jump in difficulty rate was around 13%. If the trend continues, my estimate may be good enough for now.

ROI is what I'm after. These 3TH/s miners will be worthless in 1 year based on the increasing of difficulty levels.

Mate, seriously...how you can expect a continue trend? The trend will never continue linear, the trend is exponential!

RoadStress

legendary

Activity: 1904

Merit: 1007

Quote from: kotaklabs on November 22, 2013, 03:24:47 AM

As per the current work and research progress we are expecting to ship this hardware by end of March '14. There are no additional charges for shipment of the product and all shipments will be delivered via FedEx Express. However, the customer is liable to pay any customs/duties/taxes applicable in his country.

We accept that our competitors have already created lot of panic with anti-customer business policies such as No Refund, Accepting payments via sources which do not have any consumer protections,etc hence we only accept payment via PayPal/Credit Cards and are liable to issue a refund to our customers if we are not able to deliver them products as per the delivery deadline.

All further information about the product can be found at our website : http://kotaklabs.com/products/kl-yug/.

If you have any queries/suggestions, please feel free to drop us a mail at [email protected]

Have a great day!

All potential scams have shiny cases. This is getting really old.

Hey kotaklabs what technical details can you give about your chips? What node are they using? When are you going to tape out? Who is going to make your chips? What proof do you have for chips production?

Topic: 3 TH/s Bitcoin Mining Hardware KL-YUG by KotakLabs - page 4. (Read 35753 times)