Topic: Swedish ASIC miner company kncminer.com - page 1711. (Read 3050068 times)

So, is the implication that KnC will burn-in our miners using our BTC payout address and preferred pool?  That might work with Eligius given that no password is required but not Slush's.

Porn, or money lending, the example with my friend was unheard of, IDT was the only bank we came across that would consider this for short term-lending in the country he was trageting (it was in Europe, but outside the UK).

You don't have to prove anything... except your creditworthiness? Which isn't insignificant for many people...

Oh yeah, and let's not forget, you often can't be part of a "risky" industry like porn. Or digital currencies.

Try it with pre-orders, bet you have to have a siginificant float as you own pre-payment with $7k orders. I know this as I have a friend in distruptive finance, and the money lending game, they wanted a huge deposit, in the hundreds of thousands, cloes to £1m, and his loans were small, but frequent. I was sat in the meeting with the head of MCard Europe opposite me, IDT Bank, and Yalamanchili as the payment processor. I know exactly what they had to negotiate upon, and it equalled two months worth of lending. I'd be surprised if this was any different with pre-orders, as once a product is delivered (or in my freinds case several months of loans had been repaid), you have movement with them. Your merchant account came from items in stock, I bet.

Getting a merchant account is freaking easy.  You don't have to prove anything.  They wire that up to your bank account.  I have one.  And I don't have a miner to show them or whatever.  Have a good credit score?  You can get one.  The reason people don't is because of charge-backs and fees.  The credit card companies take around 5% to pay for the service and your cash back bonuses and Amazon points or whatever you have on your card.  A manufacturer is not allowed to charge more for a credit card purchase vs a regular purchase (Visa/MC rules forbid it) so you either raise all your prices by 5% or eat the cost.  

Then, if someone calls their bank and says, "I didn't order this" the folks at the bank yank the money out of your account and if it happens more than a few times you pay higher and higher fees.  So in this market, it's a huge risk to offer credit card without being prepared to be dealing with charge backs and the fees.

Cool that KNC is willing to take that risk.  It does show they are willing to eat a sh*t sandwich to make a sale, which is great.  But let's not make it sound like getting a merchant account is some rigorous process, because it isn't.

You missed the 'h', and the 'd' there.

agreed..... BFL wore out the 'shipping in two weeks' deal!

Thing is shipping in two weeks never needs to be said, it just needs to be done. That's the difference.

Are we at the point where KNC can say 'shipping in 2 weeks' and actually deliver the first time they say it?


Would be a nice touch

I just ordered a Saturn in hopes of it being the first miner purchased directly via CC.
BTC History.
(yes, I can afford it)

Whatever man, the mood here's changed significantly in this thread, and apparently I was telling the damn truth all along!

Ok that's BIG News with respect to payment choice, that's direct credit card payment through a merchant account with an issuing bank, and a payment processor.

In this case it's SEB, which is Sweden's largest and most respected bank, and the direct payment processor, not sure doesn't say who. In any case that's proper, that takes massive negotitation w.r.t. interchange fees. I wonder what boxes they had to tick to achieve that. You have to promise a monthly minimum, typically in the tens, if not hundreds of thousands of $dollars (whatever that is in Swedish Krona), and presumably a very large float due to the nature of this business. Definitely a world first for a Bitcoin related business, and certainly significantly harder than just using Paypal to process payments. Congrats, major kudos, someone at SEB is taking these guys seriously.

Hashfast/Cointerra could get Paypal on board if protecting their customer's funds mattered at all to them (well Cointerra would have to drop their price, unless Paypal is willing to make an exception to their $10K transactional limit - they did promise to accept Paypal), but neither Hashfast, nor Cointerra would be able to offer direct credit card payments with a merchant bank unless they were will to cough up significant funds for whatever issuing bank they would acquire a merchant account from. Apparently KnC has a very healthy set of accounts according to SEB and are not holidaying in the Carribean.

Definitely a major step in the right direction by KnC in offering their customers, and potential customers a means of protecting their pre-order payments. I'm all over Bitcoin payments to them, once they have a product in hand, but after the scams, marketing lies and incompetence endured and continuing on this forum, this makes KnC hands down the only choice for pre-orders in my mind.

The others not accepting Paypal, when they could, and promised to, speaks volumes, they are gambling with customer funds and promising 'simulated' best case chip specs, not the pessimistic worst case KnC are. Under deliver, over promise was what I emailed Sam to do prior to the open day, at the open day, and they have taken to heart as their mantra. These guys are going far, you can't dissapoint when you're honest, and over deliver.

Integrity, you decide who has it, for me it's now blatant. Nuff said, no fanboy crap, look at who treats their customers best, and who treats them with marketing fluff and contempt. It's crystal clear.

Aside from the obvious chip arrival, and delivery, this was the news I was waiting for a mining manufacturer to state. Like to see another attempt this, bet there won't be, because it's clear none of the others gives a damn. I didn't even think it was possible for this business model to get a merchant bank account, apparently it is, in which case what the hell have all the others been doing, oh yeah, gambling with your cash.


P.s. Bargraphics, damn straight!

Good news. Chargeback protection is needed for customers of these manufacturers.

LOL. 

I can't connect - just get a "waiting for proxy tunnel" message and nothing happens even after waiting 5 minutes.
[/quote]


it´s their automated troll-protection.  

http://forum.kncminer.com/forum




use this link instead

https://www.kncminer.com/news/news-35

LOL. 

I can't connect - just get a "waiting for proxy tunnel" message and nothing happens even after waiting 5 minutes.

Simply represents yesterday's diffchange, nothing more.
See ya in the Forum...

The spike was caused by Bitfury as others has said. KNC most likely will be using our pool information from our accounts when they test our units. Just monitor the forum for post from any of those Day 1 and 2 orders. They will be the first to see activity in their pools if KNC does this

Nice idea, but.
2/3 of my ignore list is already there, and there's no ignore button.