Issuing In A New Era Of Arctic Cloud Mining - The KnCMiner Newsletter (LoL)

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: jonnybravo0311 on September 02, 2014, 06:50:32 AM

Quote from: vladnae on September 02, 2014, 05:16:16 AM

I don’t understand the calculation behind the marketing of this companies.
My calculation is that: if i buy i contract for 6 months I pay 1995 $. In 6 months i make about $1037 . HOW is this profitable ?
Can somebody explain to me if I am wrong?

There is absolutely nothing wrong with your calculations, and you've discovered exactly why cloud mining is a money making machine for the provider of the service - not for you.

It's a deal for the "Bitcoin will go to the moon" ~~suckers~~ believers.

hgerson

full member

Activity: 253

Merit: 100

Are they still sticking to the same numbers? Shocked

Btw, is there any cloud mining operation with chances of profit?

madken7777

full member

Activity: 182

Merit: 100

Quote from: sionsandman on September 03, 2014, 10:12:17 AM

I'm know shit about math.

I'll just trust knc.

I'm a knc customer.

A fool and his gold are soon parted.

Need to trust some of the experience miner on the profitability on knc miner and stay away.

sionsandman

hero member

Activity: 519

Merit: 500

I'm know shit about math.

I'll just trust knc.

I'm a knc customer.

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Quote from: Totscha on September 03, 2014, 09:01:57 AM

I had to recheck my calculation 3 times yesterday. Just couldn't believe they have the nerves to make an offer that will give you a 50% loss.

1. You will never get your 18 BTC back.
2. If you're counting on the price of BTC to go up, you'll get a much better profit by just buying BTC now.

Undecided

Hhahaha yeah I did the same thing... I was like, "wait a minute... is this right!?!?!", sure enough, you lose money for sure. The only thing that I did see, that may slightly skew the estimate was that the pool is PPS, but even then it's a small margin and would not make up for the loss. It's a shame, I had a bunch of kncminers late last year and liked them a lot, but this is just way wrong. Disappointed in them for sure for doing this to the community.

Totscha

hero member

Activity: 1276

Merit: 622

I had to recheck my calculation 3 times yesterday. Just couldn't believe they have the nerves to make an offer that will give you a 50% loss.

1. You will never get your 18 BTC back.
2. If you're counting on the price of BTC to go up, you'll get a much better profit by just buying BTC now.

Undecided

zvs

legendary

Activity: 1680

Merit: 1000

https://web.archive.org/web/*/nogleg.com

kncminer's business approach is similar to blue bell ice cream, they eat all they can and sell the rest!

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Hmmmm tough decision, throw money into cloud mining service that doesn't offer a profit or toss money into the fire.... money in fire vs cloud mining.... hmmmm gosh I don't know. Wink

madken7777

full member

Activity: 182

Merit: 100

Quote from: jonnybravo0311 on September 02, 2014, 06:50:32 AM

Quote from: vladnae on September 02, 2014, 05:16:16 AM

I don’t understand the calculation behind the marketing of this companies.
My calculation is that: if i buy i contract for 6 months I pay 1995 $. In 6 months i make about $1037 . HOW is this profitable ?
Can somebody explain to me if I am wrong?

There is absolutely nothing wrong with your calculations, and you've discovered exactly why cloud mining is a money making machine for the provider of the service - not for you.

If the company is selling the service knowing full well the customers will lose money, what they are doing are borderline scamming.

allcoinminer

hero member

Activity: 784

Merit: 504

Quote from: vladnae on September 02, 2014, 05:16:16 AM

I don’t understand the calculation behind the marketing of this companies.
My calculation is that: if i buy i contract for 6 months I pay 1995 $. In 6 months i make about $1037 . HOW is this profitable ?
Can somebody explain to me if I am wrong?

When something come in the hands of corporates, they will make the money and make all of us consume to make a profit for them.
Mining with ASIC is already over with the current mining devices you need BTC value appreciation to ROI, no more BTC ROI.

RoadStress

legendary

Activity: 1904

Merit: 1007

Stay away from KnC!

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: vladnae on September 02, 2014, 05:16:16 AM

I don’t understand the calculation behind the marketing of this companies.
My calculation is that: if i buy i contract for 6 months I pay 1995 $. In 6 months i make about $1037 . HOW is this profitable ?
Can somebody explain to me if I am wrong?

There is absolutely nothing wrong with your calculations, and you've discovered exactly why cloud mining is a money making machine for the provider of the service - not for you.

vladnae

newbie

Activity: 19

Merit: 0

I don’t understand the calculation behind the marketing of this companies.
My calculation is that: if i buy i contract for 6 months I pay 1995 $. In 6 months i make about $1037 . HOW is this profitable ?
Can somebody explain to me if I am wrong?

DrG

legendary

Activity: 2086

Merit: 1035

Hey look, we garnered everybody's trust on the first 2 batches of the Jupiter and made everybody think we were saviors. We promised to not mine on customers equipment and not make a huge farm and took a bunch of pre-orders and turned around and did just that and shipped the Neptunes pretty much on the last possible day of Q2.

Now we're rolling in money with our huge farm which is directly competing with the miers we sold you (no conflict of interest there) and if you pay us 18BTC ($9000) we'll give you 9BTC back over the next 6 months and keep the rest for ourselves.

See, everybody is happy. Life is good. Come, sit down, have a beer, buy our contracts. Forget your kids can't have dinner next year Cheesy

KNC already has a big farm. No need to throw money at them and centralize the network even more.

zvs

legendary

Activity: 1680

Merit: 1000

https://web.archive.org/web/*/nogleg.com

Wow, what a steal at those prices. If I bought the 5TH $9000 deal, I'd only expect to lose slightly over $4500.

We're open for business.

Today we’re proud to publicly announce the opening of our new cloud hashing system KnCCloud.com, delivered from our Clear Sky mining farms in the polar region.
Now that we’ve delivered most of our 20nm Neptune Bitcoin Miners we’ve got overcapacity from the expired ”Plan B - Hash While You Wait” offers. These were all delivered from our 7+PH/s Clear Sky mining farm in the north of Sweden. Now for a limited time we’re selling that overcapacity in packaged online mining contracts.
This is powerful Bitcoin mining made easy.
Our farms are naturally cooled by the surrounding arctic air and exclusively powered by renewable energy. Our miners and workers enjoy a clear sky view as we keep our hangar doors open for natural circulation.
Our 24/7 - polar night, midnight sun - operations features:
* Up-to-the-minute stats with graphs on your mining history.
* Individual payout threshold settings.
* One-click calculation of sharing balance among addresses.
* KnC Clear Sky Pool (PPS).
* 2-factor authentication & SSL-protected admin area.
* Split payouts onto multiple addresses automagically.
* No hidden fees (no setup costs, no maintenance fee, no pool fee, no energy tax fee). The price we market is the price you pay.
* No ”+-5% fluctuation” (we absorb fluctuations with our margin mining on top of the pool) - the terahash you pay for is the terahash you get.
Get in early - limited number of packages for sale.

1995 USD for 1 TH/s (6 months) ≈ 1.99 USD/GHs
(≈333 USD if calculated as a monthly expense)
5495 USD for 3 TH/s (6 months) ≈ 1.89 USD/GHs
(≈915 USD if calculated as a monthly expense)
8995 USD for 5 TH/s (6 months) ≈ 1.79 USD/GHs
(≈1499 USD if calculated as a monthly expense)
All applicable costs are included in the packaged contracts.

These online mining contracts are payable in bitcoin and bank transfers only and sold as full 6-months packages (they can not be paid monthly) and are non-refundable. Activation immediately upon confirmed full payment.
This offer is only available in select territories (we're working on expanding this list as quickly as possible).
Best,
The KnC Team, Stockholm, September 2, 2014.

Topic: Issuing In A New Era Of Arctic Cloud Mining - The KnCMiner Newsletter (LoL) (Read 1659 times)