yeah I now agree with waldohoover that this is the best way forward.
I'd been doing my own estimates and it was getting close (if not past) the point of ever breaking even.
Topic: all finished - page 2. (Read 5074 times)
What happened to CoiningSolutions.com? 
What about the option of switching to 3TH in Jupiters?
Right now the only option for anything even near ROI is to get the hashrate asap.
Right now the only option for anything even near ROI is to get the hashrate asap.
Nah, that's moving a step backwards. On top of that that means I have to buy even more PSUs to run all of the extra boards on the controllers.
Either way, we wont be hashing until the last week of Q2 it seems with the most recent news regarding the Neptunes.
Ok, I see. That sucks...
I haven't voted (haven't used the forum in a long time and forgot my pw), but I'd vote for a refund with my single share, unless that is too late now.
What about the option of switching to 3TH in Jupiters?
Right now the only option for anything even near ROI is to get the hashrate asap.
Right now the only option for anything even near ROI is to get the hashrate asap.
Yep I would like to go for the refund route too please. As it was only 3 shares, makes sense. Thanks for your updates.
Quote
Dear all,
In this newsletter we have some updates for you all about our product range. The newsletter will contain the following sections:
20nm statement
Neptune progress update
Hash while you wait
Convert your Neptune order
20nm statement.
This is an important statement which we would like to make clear. As always there is a lot of information available on the internet and a lot of speculation about the technology we are using some of it true and some of it completely wrong. What we can say is that the technology we have chosen is cutting edge and this means a lot of companies are careful about adopting such technologies.
We at KnCMiner pride ourselves in bringing the latest technologies to our customers. We over engineer our chips and don’t promise anywhere near the actual 100% performance they could possibly achieve. This enables us to use the latest and greatest chips safely. So when you read about much longer timelines for this technology it’s important to note they are not our timelines. We have a very different approach. We over engineer our chips and only use world class partners in our chip designs. These important factors allow us to have the technology in our customer’s hands faster than other companies.
Neptune progress update.
Our Neptune product is currently in fabrication stage at the TSMC Foundry in Asia. We are actively pushing to get the chips as fast as possible to our assembly factories in Sweden. We have of course taken all steps to make sure that the process is done as fast as possible. We know as well as everyone in this business that time is a critical part of the process. Which we think is why we have come up with a few alternatives to anyone who doesn't want to wait for their product.
Hash while you wait.
First it’s important to note that we don’t expect to be late at all everything is on track. It’s just always good to have a backup plan. Second our mega-data center in the north of Sweden is nearing completion so we can give out some more details. All customers of Neptune’s will be able to use completely free of charge our data center to hash for them at 3TH either on our pool or a pool of their choice while they wait for their product to be shipped. The first customers (batch 1) are expected to be hashing in our data center in early June and the last customer will hash in our data center around the last week of June. All the customers will be able to hash in that data center for as long as we are late in shipping your Neptune product, this service will be provided on a best effort basis. We have a 24/7 operations teams in place with multiple redundant internet and power connections and we will aim to have as close to 0 down time as possible.
Convert your Neptune order to a 3TH Jupiter.
For those customers who no longer want to wait for their Neptune we have another new option for you. We are releasing for shipment a new 3TH product. We have a total of 400 of these setups available which are based on our existing and proven 28nm chips. Each setup contains
18 of our own 28nm 8 DC/DC module ASIC boards with coolers,
3 controller cards,
all cables needed,
Power supplies not included.
The boards are in aluminum boxes, each box contains 3 chips side by side with front and rear cooling vents. Each controller card runs two boxes. This option will be offered free of charge for anyone wanting to convert their Neptune to a 3TH Jupiter. If more than 400 people want to have the conversion we will ship in order of payment for the original Neptune order. This offer will be open for 7 days for people to contact us. After 7 days from today the exchange will be frozen and people will be contacted who made it onto the queue. The products will then be shipped from stock as soon as possible. This will be offered at no cost to the customers wanting to take 3TH of Jupiter’s instead of waiting for their Neptune’s. There is a 90 day warranty on this product. Anyone wanting to take this option should contact customer service via email with their order number who will then take care of the conversion.
In this newsletter we have some updates for you all about our product range. The newsletter will contain the following sections:
20nm statement
Neptune progress update
Hash while you wait
Convert your Neptune order
20nm statement.
This is an important statement which we would like to make clear. As always there is a lot of information available on the internet and a lot of speculation about the technology we are using some of it true and some of it completely wrong. What we can say is that the technology we have chosen is cutting edge and this means a lot of companies are careful about adopting such technologies.
We at KnCMiner pride ourselves in bringing the latest technologies to our customers. We over engineer our chips and don’t promise anywhere near the actual 100% performance they could possibly achieve. This enables us to use the latest and greatest chips safely. So when you read about much longer timelines for this technology it’s important to note they are not our timelines. We have a very different approach. We over engineer our chips and only use world class partners in our chip designs. These important factors allow us to have the technology in our customer’s hands faster than other companies.
Neptune progress update.
Our Neptune product is currently in fabrication stage at the TSMC Foundry in Asia. We are actively pushing to get the chips as fast as possible to our assembly factories in Sweden. We have of course taken all steps to make sure that the process is done as fast as possible. We know as well as everyone in this business that time is a critical part of the process. Which we think is why we have come up with a few alternatives to anyone who doesn't want to wait for their product.
Hash while you wait.
First it’s important to note that we don’t expect to be late at all everything is on track. It’s just always good to have a backup plan. Second our mega-data center in the north of Sweden is nearing completion so we can give out some more details. All customers of Neptune’s will be able to use completely free of charge our data center to hash for them at 3TH either on our pool or a pool of their choice while they wait for their product to be shipped. The first customers (batch 1) are expected to be hashing in our data center in early June and the last customer will hash in our data center around the last week of June. All the customers will be able to hash in that data center for as long as we are late in shipping your Neptune product, this service will be provided on a best effort basis. We have a 24/7 operations teams in place with multiple redundant internet and power connections and we will aim to have as close to 0 down time as possible.
Convert your Neptune order to a 3TH Jupiter.
For those customers who no longer want to wait for their Neptune we have another new option for you. We are releasing for shipment a new 3TH product. We have a total of 400 of these setups available which are based on our existing and proven 28nm chips. Each setup contains
18 of our own 28nm 8 DC/DC module ASIC boards with coolers,
3 controller cards,
all cables needed,
Power supplies not included.
The boards are in aluminum boxes, each box contains 3 chips side by side with front and rear cooling vents. Each controller card runs two boxes. This option will be offered free of charge for anyone wanting to convert their Neptune to a 3TH Jupiter. If more than 400 people want to have the conversion we will ship in order of payment for the original Neptune order. This offer will be open for 7 days for people to contact us. After 7 days from today the exchange will be frozen and people will be contacted who made it onto the queue. The products will then be shipped from stock as soon as possible. This will be offered at no cost to the customers wanting to take 3TH of Jupiter’s instead of waiting for their Neptune’s. There is a 90 day warranty on this product. Anyone wanting to take this option should contact customer service via email with their order number who will then take care of the conversion.
The last option seems to be the best if we get 3ghz and it will be shipped soon?
I have 4 shares in Neptune #5, I vote to keep and it would be great if I can move up onto Neptune #1 if people on there want a refund.
Am I missing something or weren't these scheduled for a Q2 release? I assumed this would be delivered by June 30th and any earlier would be great, it's only April now.
Am I missing something or weren't these scheduled for a Q2 release? I assumed this would be delivered by June 30th and any earlier would be great, it's only April now.
I vote to stay the course.
I have a single share.
I have a single share.
I would like to change my vote.
I vote for a refund given its been 30+ days without any change in status.
Was payment sent for the KnCMiner Miner #11 - Neptune BATCH 2?
If everybody wants a refund, my 7 shares will also vote for a refund.
Only two shares here. Let's refund.
It's nearly April 1st. I think it is time to request a refund. I have four shares.
This ^, 8 Shares, infrastructure investments await me outside of mining..
It's nearly April 1st. I think it is time to request a refund. I have four shares.
I only have a handful so I'm not that concerned either way - If I was to pick I'd prefer to stay. I do have more shares in another scheme so it would be nice to refund this one so that I only had to worry about one scheme however, so if refunds were an option that would also be good for me.
This could be an option, unfortunately a good chunk of the people who invest never seem to follow any of the news/announcements I make.
Some just send me their investment- log off forums/emails etc for months and then ask me later "so whats the word?" - which makes it difficult to make decisions for them.
Some just send me their investment- log off forums/emails etc for months and then ask me later "so whats the word?" - which makes it difficult to make decisions for them.
Please understand I am saying this respectfully, with a smile on my face... Why are you trying to make a decision for them at all?
The people who bought into the group buy already made their decision. That decision should stand unless they specifically change it. I respectfully suggest: you should not think you need to make a decision for them at all. They made their decision; respect it.
Your safest option is to accept "refund requests" by shares owned. As soon as you have enough "refund shares," get a refund of the last miner ordered and "slide" everyone else who remains in the group buy "up" to fill those emptied slots.
You don't need to make a decision for anyone. Let those who have decided to get a refund, get a refund. The rest of your members' decisions should be left alone.
Thanks for being so thoughtful and concerned for your group buy members. It does you credit. But I think you are making this an all-or-nothing proposition when it doesn't need to be. Based on your numbers earlier in the thread, you already have enough refund-ready shareholders to get a refund for them. I'm making an assumption here, but if my assumption is right, why wait? Refund one or more of the miners in the second buy (so no one can be moved from buy #1 to #2) and send them their coin.
P.S. This method will make the refunders happy, and it will also cause some of the people in buy #2 to be very happy. They will "magically" find themselves "moved up" into buy #1, and not have to wait as long to begin receiving a return. Everyone gets to be happy this way. Just something for you to consider...
Isn't it possible to refund some miners and keep some?
Waldo?
Please?
It doesn't matter if mining is a speculative endeavor for you, not based on todays Bitcoin price but on the future price. The speculation would be more profitable if you got your original funding back in Bitcoin, or as close as possible to it.
Murt,
You may be missing my entire point. I am not a speculator. My goal is not to have some coins sitting in my wallet. My goal is to participate in the bitcoin network, and have a powerful miner working on my behalf, 24/7 for a long time. If all I wanted was some coin to hold, I would never have bought into an ASIC group buy at all.
Please don't speculate with my coin. And that's what you (you all asking to bail out of these miners) are doing. Had the BTC price risen, this thread would not even exist. So, the only reason you want this is because of price speculation. "Let's buy some coin now, with a refund, and hope the price goes back up."
And when you say "absolutely no chance of ROI," let's talk about that. Are you familiar with the BFL Singles? Do you think there is any ROI on those now?
In fact, I have one (technically, two Little Singles) sitting here right now, mining away (and I was a late purchaser). They netted me over $150 in the last 30 days. You know what it costs me to run them? A few bucks in electricity. They will give me "ROI" for quite a long time to come.
I understand the speculator mindset. You put X number of coins into the group buy, and now that the USD/BTC price has fallen, you might get back almost that many coins immediately. But you would then be out of the bitcoin mining industry altogether. You'd have some coins in your wallet, but no way to get any more, except through an outlay of fiat.
I don't want to be out of the bitcoin mining industry. Frankly, I don't believe the whole "no chance of ROI," unless Waldo decides to shut the miners off long before the electricity costs more than the coin.
P.S.
Would you do me, and those of us who want to stay, a favor? Please encourage Waldo to let those who want to stay, stay. I, and others, have asked if he would refund some of the machines, and let the rest go into production. But he won't even answer that request. This is so stressful for me, because people I don't know, and with whom I politely disagree, are trying to make an adverse decision that doesn't even need to affect me. I want you to get what you want; but I don't want to get f****d out of my participation in the network by the speculators.
Please help Waldo do the right thing for all of his shareholders, not just those who want out.
Isn't it possible to refund some miners and keep some?
I only have two shares but I vote that we get ou while we can still get most of our btc back.
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