SEE FAQ #2 ON THE FAQ PAGE
Why are you selling the Miners and don’t mine yourself (will you use the miners for mining yourself)?
We are mining ourselves, but we believe in the bitcoin project and a diversified market is the best for all parties. We will continue to mine but we do not believe in a monopoly of miners.
Yeah that's fine, I think. That is different from ASICMiner who is growing into a gigantic solo operation to own the network. I guess time will tell.
I'd be curious to know how they pay themselves so they can individually mine on their own...referring to the owners.
Heh, so we're clear, according to Paladin69:
KnC: Owners will be purchasing their own hardware at cost, mine with it and sell it. - *Good*
ASICMiner: Owners purchase their own hardware at cost, mine with it, sell it and share the revenues with their public investors - *Scammer*
Aren't you tired of the double standard, Paladin? You might want to rethink throwing around the scammer tagline.
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I'm a strong supporter of both KnC and AM since they're both open and honest about their intentions - I just don't think that there's something inherently wrong with mining with your own hardware. I have a much bigger problem with Avalon and BFL pretending not to mine with their own hardware.
You all seem to forget that AM was at least partially (if not totally) funded with the funds raised in the IPO. Is a 50% publicly owned company from minute 1 (meaning BEFORE hardware development and manufacture).
Still, it's an amazing example of flawless and honest management (do not forget Friedcat is anonymous and he runs a completely "underground" operation, while delivering flawlessly). What they achieved is impressing and IMO they should be admired.
Aspects, I agree. They are ruthlessly efficient, and admittedly their buyers don't seem to complain.
You should also know they are not only efficient in delivering hardware. They have been the very best possible management for their investors. They launched the ipo with 200,000 shares priced at 0.1BTC each, and they paid back the cost of each share to the public IPO investors with the first dividend. All the very first revenue generated by mining was reverted to investors so the people that believed in them was able to immediately breakeven.
Plus, they never failed a royalty pay day and they have been completely transparent when explaining delays in deployment, etc. As I said earlier, AM at IPO price has been the very best Bitcoin related investment up to date, hands off - and we had a lot of "mining bonds", securities and schemes of all kinds going on since the early days.
That wasn't on the site last I looked. But I haven't looked in a while.