http://www.kncminer.com/pages/paymentOur payment system will allow standard card payments via PayPal and direct payments in Bitcoin.
The decision to allow Bitcoin payments was of course simple.
The decision to allow other forms of payment was a little harder.
In the end we have decided to open up to allow PayPal payments as well. The main reason for this was to allow people to enter the market. Rather than to only cater for people who have managed to trade or mine the appropriate amount of coins already.
With a greater number of people mining, the whole community gets to benefit and this will make it stronger.
During the initial phase of this business we understand (quite rightly so) that people are a little concerned when sending money or coins to companies that have not been trading for very long. To alleviate some of these concerns we will not be taking any money from our customers until we have progressed much further down development path.
Even when we have made enough progress we will open up our order books with two possible purchase methods. The first will be a standard payment in advance allowing customers to enter as far down the queue as possible (based on a first come first serve bases). The first 500 KNCminers will be sold this way, as soon as the first 500 are sold we will close that order book.
The second order type which will be available at the same time is a 50% upfront payment method. Customers enter the queue as low as possible (first come first serve) with the miner numbers starting at 501 the rest of the 50% payment is then due 3 weeks before shipment.
We will then close that method as soon as we ship our first miner and return to the standard upfront payment method.
I'm having a hard time understand the following sentence, EVEN though I've read it several times.
Even when we have made enough progress we will open up our order books with two possible purchase methods.
I believe he meant to pen: Once we have made enough progress, we will...
To alleviate some of these concerns we will not be taking any money from our customers until we have progressed much further down development path.
Pushing the "we will not be taking any money from our customers until" aside, clearly they are only at the nascent stage of development, if at all. Do they not see how far out they are in bringing this to fruition even if it's based on 110nm ASIC chips, yet projecting a Summer of 2013 delivery?
Also, according to the above mega-quote, all money sent to you WILL be considered pre-orders given the following:
...the rest of the 50% payment is then due 3 weeks before shipment.
Therefore, the two options consist of 100% payment upfront so to be included early on in the queue, or ONLY pay 50% up front to be on a secondary queue, with the remainder 50% due 3 weeks prior to when you claim to be shipping.
Meanwhile, a mailing list is being amassed on your part, whereupon at some point you'll blast them with an email stating that you're now accepting payments, included within a catch phrase similar to, "Product will be shipped to those who've paid the earliest, so the sooner you pay, the earlier in the queue you'll be to FINALLY receive an ASIC-based bitcoin miner in your hands."
At $2,999.00 a crack, I reckon you'll only need about 200 such emails, hoping for a 50% actual orders rate to profit $300,000 if you fail to produce. Unfortunately, considering the mentality of your potential customer base, I see no reason why you shouldn't amass a minimum of $500,000 into your coffer by the end of May.
All the while, without providing formable proof of your existence, sans a couple sockpuppets and a few well-wishers in your camp.
Truth be told, I'm jealous that I'm not developing such a money machine. Then again, I could be playing the reverse psychology card, all the while being KNCMiner pretending to be in Sweden, given that it's only across the Baltic Sea from Lithuania.
