Topic: KNC, 100% of their hashing is currently going into their own pocket. - page 4. (Read 10884 times)

@Bitcoinorama

Are you now officialy work for Knc miners. They have presented you an working unit what you wanted to see first before you accept the job offer.
Maybe premature, but if you are working for them now (you already are kind of), I believe congrats are in order 
Great work my man!

Are you talking about mining pools? I think in the long run it is millions of miners with free electricity or those who use it as a heating device secure the network, the power of the masses

care to share some more info about "the bug"?

sorry for derailing the thread, though

TL;DR Guys stop buying such powerful ASICs because I will be earning less with my current old-gen tech miner.

Ok so let me clear a few things up from this side;

Firstly I have no beef with GMaxwell, he's always been prompt at responding to any issues I have raised where I have had the need to contact him. Last was a spelling mistake I think and he was v.sharp to correct and courteous. MiningBuddy has been equally proactive and polite.

Secondly, all prior testing was performed on the testnet as appropriate, however when it comes to actual proof to real customers that the product stands up and performs over a longer period it had to be to an account. Andreas and Sam are not desperate for a few hours worth of mining, and honestly it went to Vitali, the software engineer who finally resolved the bugs that had plagued them throughout the day. Seeing as he had only stood up to walk in a circle a couple of times in 24 hours, I doubt anyone would begrudge him that. Miner is offline now and being reviewed/optimised, whilst acceptable production is focused upon.

Thirdly, despite openly stating they will mine with upto 5% of what they manufacture, they aren't. If at any-point they do, it will be unlikely to occur prior to November's shipment. Quite simply they have sold all available boxes. They had to make a call as to what makes more long term sense. Ensure you have sufficient funds to progress with future generations, whilst ensuring there is a proportional float of chips in case of hardware error, returns, etc. The issue with selling out concerned the controller boards, and where the hell they ended up last week almost ruined what was achieved yesterday. More on that later, but in any case Mercury uses the same number of controller boards as Jupiter, one, but only one ASIC.

Finally aside the dev boxes and prototype board revisions, which will lead to an iterative ongoing improvement with respect t hardware, the only device in KnC's possession to 'mine for themselves' will be in the office foyer, and all coins generated from that will be going direct to charity. Which charity? Sam asked me to find one that accepts Bitcoins. I replied why not choose a known and respected one that has yet to adopt Bitcoins and kill two birds with one stone, by having another worth cause adopt Bitcoins as a payment avenue. Isn't there one close to your heart before I call around? And he stated that his little girl, now 2 years old, spent her first 56 days in intensive care at Sweden's Karolinska Institutet - Dept of Women's and Children's health - Neonatology - as she was born 8 weeks premature. This is one of the world's finest Neonatology wards and he feels indebted to them.

Someone's in the wrong country.

Skipped right to the last page after reading the first.

So:
1. KnC stated from the start that they will be doing some mining themselves with a fraction of units (read the FAQ on their site).
2. They still need to fine-tune the unit to stabilise its performance so the customers get the most out of them.
3. They need to show the world that a unit can handle sustained mining.

I don't have a problem with any of it and I have 2 orders.

They moderate? They modulate? They modify?

Maybe he's a variable, in statistics, a qualitative or quantitative variable that affects the direction and/or strength of the relation between dependent and independent variables.

Well that was a nice read.

Two things I did not know about this forum previously:

1). Something tells me Loredo is a sharp cookie.
2). I finally figured out what Moderators actually do here.

https://maps.google.com/maps?q=paducah+ky&hnear=Paducah,+McCracken,+Kentucky&gl=us&t=h&z=12

I am deeply amused by the nearby town of "Metropolis, KY".

Also, holy shit, I should retire:

http://www.zillow.com/homedetails/3660-Pecan-Dr-Paducah-KY-42001/2129662390_zpid/

$37.81? That's less than what I paid for the hotel I'm now in here in Paducah, KY.

In his defense, he did say so in the OP

As per my post before, I think he has a valid point, trolling or not. I disagree, but it's not an unreasonable position.

So, basically, you made this thread just to troll? A moderator? Sheesh...

Cry me a river. The impact on customers is minuscule. KnC deserves it, why should they throw those hashes away?

Think of it as an incentive to get to market on time - if you do, you get the coins mined from testing. BFL, fittingly, will not get that profit.

I was shutting down this open window on the browser, and thought I'd see what the Esteemed Moderator had to say about this.

If it ain't the ants, it's the bees.

You're trying to have a nice picnic, blanket on the ground, and next thing you know there's ants in the potato salad.

You move to a table, and -bam- some kid runs by, throws a rock in the bee hive, and then you've got bees swarming around.

Sometimes you should just let it go and eat at Appleby's.

Nice one! Whoop-whoop!

Half kidding. You stoned the hornets nest though, I think we're in agreement there. In truth, there's probably no good time to make a small splash with a KNC based thread, may as well accentuate the wailing and flailing instead 

Back to a somewhat theoretical base in logic, I can see the point gmaxwell is making, but for all intents and concerns, one Jupiter mining publicly is no big deal. There are a certain number of units that should have shipped today. If those didn't ship, then certainly they should box up the Jupiter they have mining and ship it out, but if they met their shipment goal for today (all 1st-day shipments sent) then them mining with it is a mute point. To get technical, they didn't breach their contract, as their 5% agreement was based on hashing power sold.

Direct quote from KnCMiner Website: "We will not mine with more than 5% of the hash rate we sell, and we will never mine with customer hardware."
Two main things above: will not mine with more than 5% of the hash rate they SELL. They sold tons of hashing power. I can guarantee you they sold more than 100TH of mining power, so they are currently in the clear. Notice it doesn't say 5% of shipped, although even with that wording, they would likely be fine as well. The 2nd interesting point is that they will never mine with customer hardware. This is technically not a production unit, as it's not in a commercial case. Thereby, it could be easily considered either a quality-control unit, or one that KnC reserved for themselves. Assuming they don't ship that unit to a consumer at any point in time (unless as part of a liquidation), they don't violate the 2nd part as well.

TL;dr: KnC says they won't mine with >5% of the hashing power they sell, they certainly sold more than 10TH total. Also, this unit could be not shipped to a consumer/customer, making it not a customer hardware unit.

Disclosure: I have a day-2 shipping order; Saturn, whoop-whoop.

yo mamma is big, no yours ,no mine, no yours

You are really making my namecall of crybaby to you count .
Proof is deliverd by yourself.

This is the first time i'm putting somebody on ignore, and its a mod for god sake too.

This thread is waste of bits, go back and mine....

A little slow? Well if that isn't the understatement of the year.  At least I spam shit ppl wanna see like a personal phone number for sonny yifu or josh.   If you would'very just waited a few more days to post this thread....I probably wouldn't care....you are clearly showing bias to them that wasn't shown with bfl nor Avalon....to think I used to respect you greg

They show a video of hashing rather than saying they did it holy shit good for them u get quick to say of they are taking your money and mining your earnings away.  Why don't you talk shit about vendors giving away hashspower for charge backs and the highest bidder.

Yes you're comming off as slow and sharp as a marble.