Author

Topic: Swedish ASIC miner company kncminer.com - page 1886. (Read 3049501 times)

legendary
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
August 05, 2013, 12:49:03 PM
For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.
+1
full member
Activity: 143
Merit: 100
August 05, 2013, 12:45:24 PM
Avalon Shmavalon.

Back onto KNCminer's order numbers... they have "Day 1" and "Day 2" as some kind of shipping batch identification. 
I figured they could ship a few hundred 4RU machines a day, if that...

So this guy is just now auctioning a "Day 1" order with order number #1824: https://bitcointalksearch.org/topic/kncminers-jupiter-upgrade-6-months-of-hosting-order-day-1-268149

So which of the following applies??

  • Day 1 doesn't actually mean the first day of shipping.
  • There are a lot of unpaid orders up to order number 1824.
  • Somehow KNCminer will be shipping almost 2000 x 4RU units in a single day....  Shocked


Hi, the guy making the auction is me. I had an early pre-order and I paid almost at the end of the 7 day period they offered to early pre-orders to complete payment and keep their place in line. That is why my actual order number is not so low, but my early pre-oder was in the 6XX.

Best regards,
legendary
Activity: 1442
Merit: 1001
August 05, 2013, 12:15:45 PM

Of course, but ASICminer raised huge amounts of cash knowing they had a window of opportunity for truly exponential growth if they managed to be the first to market, this of course was even before the Cypriot crisis blew Bitcoin into the mainstream media.

I was referring to the mom and pop miners thinking they could retire early, or the kids hoping to drop out of school and live the easy life...

I would point out that AM didn't raise a ton of cash - they issued about 166,000 shares at .1 BTC each or about 16,600 in BTC. Presuming they converted this to fiat and paid for the first round of mining equipment with this, it would have worked out to around $170,000 as BTC was closer to $10 at the time of their IPO. AM has made a ton of BTC from mining and sales, but they certainly didn't start off that way.

BTC Garden on the other hand just raised 32K BTC in their IPO - currently worth ~ $3.2M.

Going forward, for a newcomer to get into the game, the initial costs are only going to go up. Come sometime next year, maybe it'll cost $10M in startup costs to get a relevant hashrate or hardware sale going.
sr. member
Activity: 456
Merit: 250
August 05, 2013, 12:09:52 PM
Why not just point your miners at BitMinter, which has merged mining?

Yup, that is definitely an option.  Any other suggestions for which pool to use?

Others with merge mining.
  Slush's pool @ http://mining.bitcoin.cz/
  BTC Guild @ https://www.btcguild.com/

BitParking @ http://mmpool.bitparking.com/pool merge mines Namecoin, Devcoin and Ixcoin (with rumors of I0coin coming soon). Those extra coins aren't a huge amount of extra return in comparison to Namecoin, but they're not nothing...
full member
Activity: 238
Merit: 100
August 05, 2013, 12:07:05 PM
Who said it's in print?! AFAIK, it only appeared online on the WSJ website, perhaps someone else can confirm if they actually printed that crap. THAT would be laughable, they're supposed to have editors in place for that!!

If it's on the site as a normal article it should be in the paper - Unless it's in a "blog section" any newspaper will have the same editorial standards for their print articles as they do for their web articles. Only difference is they'll perhaps make updates to the online article if key events happen, which obviously won't end up getting printed.

Quote
Submission is usually capped for print runs hours before going to print, then distro adds hours on that. 1st eds will have been print Sunday eve, and in the hands of resellers from 4am. Latter runs continue throughout the first half of the day in case of stopping the press for breaking news. This wouldn't be worth stopping the press, or even a revision unless something else more newsworthy took place...

Right.  And the point is, if it's going to be in the paper, it's going to be finished the night before, and probably posted online.
full member
Activity: 238
Merit: 100
August 05, 2013, 12:02:02 PM
I was referring to the mom and pop miners thinking they could retire early, or the kids hoping to drop out of school and live the easy life...
Sure, that's exactly what I was thinking of, as well.  The dreams of wealth beyond avarice -if only BFL would deliver, or Avalon would deliver- were still alive even a couple month ago, right?  Equipment that would pay for itself in a few weeks, and pay the mortgage every month thereafter, that sort of thing.

My only point about Bitcoin Edison is that, for entities with low marginal cost hash power, and deep pockets, and ways to control or manage the fungibility risk of bitcoins, this is still a fairly high volume, high profit margin business.
hero member
Activity: 778
Merit: 563
August 05, 2013, 11:58:47 AM
Why not just point your miners at BitMinter, which has merged mining?

Yup, that is definitely an option.  Any other suggestions for which pool to use?

Others with merge mining.
  Slush's pool @ http://mining.bitcoin.cz/
  BTC Guild @ https://www.btcguild.com/



hero member
Activity: 532
Merit: 500
August 05, 2013, 11:56:47 AM
Since the WSJ, and the other 'press releases' the story has gained some momentum and appeared on other sites, meaning any hoaxster has gone to and is continuing to go to considerable effort to spam.

The WSJ running is what perplexes me, but I can only assume Sunday night limiting means to make phone calls and confirm, but that still would at least mean some googling like have just done. Still it wouldn't be the first time a journalist performs little research and takes Internet gossip as fact. What's even weirder is 'financial news' has clearly been slipped a web domain, so they must have had first hand contact with the hoaxster.

First of all, in order to get a story in a traditional newspaper on Monday morning, it needs to be submitted on Sunday night. So it's not at all unusual to see a story go up online the night before it shows up in the paper.  They may have been working on it over the weekend, or perhaps longer. It's not at all unusual to see a newspaper article go online in the middle of the night, that's when they're finalized.

Quote
Fake site, and definitely a fake twitter, someone had a lot of time on their hands, the swipes at KnC meant it was specifically targeted at spreading FUD between them and Avalon. Yifu is probably enjoying the confusion it's causing right now, as last time he was 'woken up in the middle of the night' with FUD being spread he jumped on this forum immediately to put the record straight. Any truth in this would be the worst news possible for centralising Bitcoin. I appreciate the ASIC route has been fraught with scams and greed, but we're finally just on the cusp of having competing choice of real products available and hopefully fair pricing/returns with various options of DIY and/or purpose made units. One entity controlling all the supply would kill mining...


I don't really get how you can say this is a "fake twitter" simply because of some "unprofessional" sounding tweets.  People post unprofessional things on their twitter feeds all the time. Just because someone is a rich wallstreet banker doesn't mean they are going act and sound professional all the time.  Quite the opposite, in fact.  Have you ever read Micheal Lewis' Liars Poker?  Wallstreet culture is not very P.C. at all.

Anyway, if the story isn't true, that means someone straight up conned the WSJ, feeding the reporters a bunch of fake information. There is no way this is a simply a misunderstanding based on a couple years old article.

Who said it's in print?! AFAIK, it only appeared online on the WSJ website, perhaps someone else can confirm if they actually printed that crap. THAT would be laughable, they're supposed to have editors in place for that!!

Submission is usually capped for print runs hours before going to print, then distro adds hours on that. 1st eds will have been print Sunday eve, and in the hands of resellers from 4am. Latter runs continue throughout the first half of the day in case of stopping the press for breaking news. This wouldn't be worth stopping the press, or even a revision unless something else more newsworthy took place...

Also no guy with links to high net worth individuals worth his salt is EVER going to behave like that on twitter, he would be dropped and cut out of the equation, pronto. Most don't have twitter accounts as they don't want their 140 character limit taken out of context and think ahead of tweeting. Just look at who they follow, and who follows them. That is not the account of someone that moves in those circles!
full member
Activity: 238
Merit: 100
August 05, 2013, 11:52:08 AM
Since the WSJ, and the other 'press releases' the story has gained some momentum and appeared on other sites, meaning any hoaxster has gone to and is continuing to go to considerable effort to spam.

The WSJ running is what perplexes me, but I can only assume Sunday night limiting means to make phone calls and confirm, but that still would at least mean some googling like have just done. Still it wouldn't be the first time a journalist performs little research and takes Internet gossip as fact. What's even weirder is 'financial news' has clearly been slipped a web domain, so they must have had first hand contact with the hoaxster.

First of all, in order to get a story in a traditional newspaper on Monday morning, it needs to be submitted on Sunday night. So it's not at all unusual to see a story go up online the night before it shows up in the paper.  They may have been working on it over the weekend, or perhaps longer. It's not at all unusual to see a newspaper article go online in the middle of the night, that's when they're finalized.

Quote
Fake site, and definitely a fake twitter, someone had a lot of time on their hands, the swipes at KnC meant it was specifically targeted at spreading FUD between them and Avalon. Yifu is probably enjoying the confusion it's causing right now, as last time he was 'woken up in the middle of the night' with FUD being spread he jumped on this forum immediately to put the record straight. Any truth in this would be the worst news possible for centralising Bitcoin. I appreciate the ASIC route has been fraught with scams and greed, but we're finally just on the cusp of having competing choice of real products available and hopefully fair pricing/returns with various options of DIY and/or purpose made units. One entity controlling all the supply would kill mining...


I don't really get how you can say this is a "fake twitter" simply because of some "unprofessional" sounding tweets.  People post unprofessional things on their twitter feeds all the time. Just because someone is a rich wallstreet banker doesn't mean they are going act and sound professional all the time.  Quite the opposite, in fact.  Have you ever read Micheal Lewis' Liars Poker?  Wallstreet culture is not very P.C. at all.

Anyway, if the story isn't true, that means someone straight up conned the WSJ, feeding the reporters a bunch of fake information. There is no way this is a simply a misunderstanding based on a couple years old article.
legendary
Activity: 1680
Merit: 1014
August 05, 2013, 11:46:23 AM
Why not just point your miners at BitMinter, which has merged mining?
hero member
Activity: 778
Merit: 563
August 05, 2013, 11:44:06 AM
For those who are interested in the KNC mining pool.  The current answer is NMC merge mining will not be available at launch.  This may change in the future but at launch, those of you who are hosting with KNC and plan to use the KNC pool (or using the KNC pool via Byteminr) will not be earning Namecoins.  This is essentially leaving 3-4% return on the table.



That's a shame, how about emailing back and requesting a poll on the front page? They appear to like that facility and def listen to the voices of their customers. Majority vote rules...

It looks like this is something that they just don't have the skill set or time to complete prior to launch.     There are plenty of pools to choose from,  hope this helps 'prepare' everyone.  Search out and sign up for the pools you wish to use and go from there.

I'll probably have each miner on a different pool and I'll compare the returns and up time.
hero member
Activity: 532
Merit: 500
August 05, 2013, 11:34:32 AM
For those who are interested in the KNC mining pool.  The current answer is NMC merge mining will not be available at launch.  This may change in the future but at launch, those of you who are hosting with KNC and plan to use the KNC pool (or using the KNC pool via Byteminr) will not be earning Namecoins.  This is essentially leaving 3-4% return on the table.



That's a shame, how about emailing back and requesting a poll on the front page? They appear to like that facility and def listen to the voices of their customers. Majority vote rules...
hero member
Activity: 532
Merit: 500
August 05, 2013, 11:32:51 AM
For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy...
Yep.  Individuals involved because of interest in the concept.  

And yes, there will be businesses with the huge farms, like ASICminer (who I think of, and refer to, as Bitcoin Edison.  You're a Brit, so may not know that, e.g., New York's monopolistic electricity company is Consolidated Edison; Chicago's is Commonwealth Edison, etc.)

Of course, but ASICminer raised huge amounts of cash knowing they had a window of opportunity for truly exponential growth if they managed to be the first to market, this of course was even before the Cypriot crisis blew Bitcoin into the mainstream media.

I was referring to the mom and pop miners thinking they could retire early, or the kids hoping to drop out of school and live the easy life...
hero member
Activity: 778
Merit: 563
August 05, 2013, 11:24:36 AM
For those who are interested in the KNC mining pool.  The current answer is NMC merge mining will not be available at launch.  This may change in the future but at launch, those of you who are hosting with KNC and plan to use the KNC pool (or using the KNC pool via Byteminr) will not be earning Namecoins.  This is essentially leaving 3-4% return on the table.

full member
Activity: 238
Merit: 100
August 05, 2013, 11:19:33 AM
For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy...
Yep.  Individuals involved because of interest in the concept.  

And yes, there will be businesses with the huge farms, like ASICminer (who I think of, and refer to, as Bitcoin Edison.  You're a Brit, so may not know that, e.g., New York's monopolistic electricity company is Consolidated Edison; Chicago's is Commonwealth Edison, etc.)
hero member
Activity: 532
Merit: 500
August 05, 2013, 11:14:31 AM
For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.

It isn't and of course it was always going to be the case that more people would by a slice of the pie until they are no longer content with the portion. If Avalon or BFL delivered as promised on time such earlier predicted returns would have been feasible, but now of course they are to be diluted especially after the recent exposure Bitcoin has had. Anyone thinking this would be a full time replaceable income that wouldn't attract significant attention is barmy.

We are supporting a bold new economy as hobbyists protecting the network and sharing confirmations of transactions taking place. Our investments will be realised at greater magnitude when we as a community start innovating means for this exciting new payment method to be utilised by a greater volume of people than it currently is, increasing BTC's liquidity and fuelling it's growth in value...
full member
Activity: 238
Merit: 100
August 05, 2013, 11:10:14 AM
For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
It does.  And it also, IMO, indicates the coming "New Normal" in BTC mining.  No Aston Martin bought in six weeks.  A nice little sideline income, a great hobby, and participation in a community.  Hardware someone can buy on line, have it shipped FedEx, comes with a manual and power supply, you plug it in, and start mining.

The prices are going to need to reflect the New Normal, of course.  Now they don't.  But they will.

Somehow, none of that sounds like a tragedy to me.
hero member
Activity: 812
Merit: 502
August 05, 2013, 10:33:09 AM
Avalon Shmavalon.

Back onto KNCminer's order numbers... they have "Day 1" and "Day 2" as some kind of shipping batch identification.  
I figured they could ship a few hundred 4RU machines a day, if that...

So this guy is just now auctioning a "Day 1" order with order number #1824: https://bitcointalksearch.org/topic/kncminers-jupiter-upgrade-6-months-of-hosting-order-day-1-268149

So which of the following applies??

  • Day 1 doesn't actually mean the first day of shipping.
  • There are a lot of unpaid orders up to order number 1824.
  • Somehow KNCminer will be shipping almost 2000 x 4RU units in a single day....  Shocked


There are a lot of unpaid orders generally. When you submit an order you are allocated an order number and even if you don't pay it still stays in their system.
A friend of mine just placed one - Order ID: 52xx

More important is how many of these 5200 orders are paid for and real - this information would be very valuable in establishing the expected (very rough) estimate of the future hash rate, thus easier to calculate possibility of positive ROI.
Because right now I don't really care how much net profit I can make as long as it is positive.

For example even with 1 billion difficulty it still makes sense to mine with KNC Miner and it is very simple to calculate returns - 1 billion difficulty equals 7158.278TH/s, so if you have 400GH/s miner = 400/7158000=0.0000558815 shares of the 3600 daily coins=0.2011734 coins per day=6.13BTC per month.
legendary
Activity: 892
Merit: 1002
1 BTC =1 BTC
August 05, 2013, 10:12:41 AM
Never did return to provide answers  Cry

Answers bring up new questions Wink
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