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Topic: Swedish ASIC miner company kncminer.com - page 527. (Read 3050075 times)

legendary
Activity: 938
Merit: 1000
LIR DEV
Do you understand that....
they (The investor group) are using that power to attempt pulling thousands of Gox clients out of a huge loss?
That's just the opposite of greed.  It borders charity considering they don't need the GOX name at all to open an exchange.


...but yes...  I was referring to the way it went down earlier...  the Jupiter board dangle and mind changing while we were clueless...
but I get it now, and am somewhat relieved...(wall streeters)  but not much.    Tongue
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.


Could you post a link where the people involved with KnC admit they're mining coins to bail out Gox?  I only ask because a) I don't believe you.  b) If something like that was posted, you likely misinterpreted it, and c) I think you've pulled this out of your ass.

It's a few pages back: https://bitcointalksearch.org/topic/m.6163899

Thanks.  This, at least to me, does not imply that KnC is mining to bail out Mt. Gox.   All it states is that one of the VC backers of KnC is also part of a group vying to buy Mt. Gox.
I never said it was KNC, go back and read it... and my info comes directly from coindesk....
It's the same investor group who was involved in starting KNC, and I even mentioned Brock Pierce directly, as well as the guys from wall street...
and they get profits from KNC endeavors...
So, a portion of Boden profits are indeed in this.
... and in a sense... since you mentioned it...  
Technically... KNC really is mining to bail out Gox, however indirectly... good point, thanks.  Tongue
I guess it really depends on how big the investor's slice of the pie is....
legendary
Activity: 1512
Merit: 1000
Do you understand that....
they (The investor group) are using that power to attempt pulling thousands of Gox clients out of a huge loss?
That's just the opposite of greed.  It borders charity considering they don't need the GOX name at all to open an exchange.


...but yes...  I was referring to the way it went down earlier...  the Jupiter board dangle and mind changing while we were clueless...
but I get it now, and am somewhat relieved...(wall streeters)  but not much.    Tongue
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.


Could you post a link where the people involved with KnC admit they're mining coins to bail out Gox?  I only ask because a) I don't believe you.  b) If something like that was posted, you likely misinterpreted it, and c) I think you've pulled this out of your ass.

It's a few pages back: https://bitcointalksearch.org/topic/m.6163899

Thanks.  This, at least to me, does not imply that KnC is mining to bail out Mt. Gox.   All it states is that one of the VC backers of KnC is also part of a group vying to buy Mt. Gox.
legendary
Activity: 1904
Merit: 1007
Do you understand that....
they (The investor group) are using that power to attempt pulling thousands of Gox clients out of a huge loss?
That's just the opposite of greed.  It borders charity considering they don't need the GOX name at all to open an exchange.


...but yes...  I was referring to the way it went down earlier...  the Jupiter board dangle and mind changing while we were clueless...
but I get it now, and am somewhat relieved...(wall streeters)  but not much.    Tongue
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.


Could you post a link where the people involved with KnC admit they're mining coins to bail out Gox?  I only ask because a) I don't believe you.  b) If something like that was posted, you likely misinterpreted it, and c) I think you've pulled this out of your ass.

It's a few pages back: https://bitcointalksearch.org/topic/m.6163899
legendary
Activity: 1512
Merit: 1000
Do you understand that....
they (The investor group) are using that power to attempt pulling thousands of Gox clients out of a huge loss?
That's just the opposite of greed.  It borders charity considering they don't need the GOX name at all to open an exchange.


...but yes...  I was referring to the way it went down earlier...  the Jupiter board dangle and mind changing while we were clueless...
but I get it now, and am somewhat relieved...(wall streeters)  but not much.    Tongue
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.


Could you post a link where the people involved with KnC admit they're mining coins to bail out Gox?  I only ask because a) I don't believe you.  b) If something like that was posted, you likely misinterpreted it, and c) I think you've pulled this out of your ass.
legendary
Activity: 938
Merit: 1000
LIR DEV
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.

I honestly hope everyone that lost at Gox gets their coin back, it's just the thought of the guys who created the event--2008 crash--leading up to Bitcoin, and one reason for Bitcoin, taking control of the very thing that's supposed to stop them form being able to do it all over again.  Shocked
I see your concern, but I think the domination will be short lived, my freind... there are too many others doing the same...
building huge farms....

And it's time Americans have a real exchange...  
CampBX flopped, and there are no bankwires at all there now...
Kracken trades on the XRP price, so the entire exchange depends on other exchanges to operate as they skim...  which sucks...
We really need someone to step up to the plate here, and hit one out of the park!
One on wall street would dominate, given the fees are low.
With WallStreet's trouble, investors there are looking for fresh, new investments...
While new IRS guidelines make BTC investing just like stock investing...
Pretty attractive for the long term IMHO.
full member
Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.

I honestly hope everyone that lost at Gox gets their coin back, it's just the thought of the guys who created the event--2008 crash--leading up to Bitcoin, and one reason for Bitcoin, taking control of the very thing that's supposed to stop them form being able to do it all over again.  Shocked
legendary
Activity: 938
Merit: 1000
LIR DEV
http://organofcorti.blogspot.ro/2014/04/april-6th-2014-weekly-hashrate.html

Quote
KNC is my largest concern right now. They now have more than 13% of the network, and they haven't made it easy to find out and track their data. If they want people to be less concerned about them having local control over machines that solved nearly one-seventh of the network blocks during the past week, then they need to be a little more open with their data and their plans.

It makes me more than a little uncomfortable that of the top five block solvers, only one is definitely a pure pool (BTCGuild), and only two of the five provide any public information (GHash.IO and BTCGuild).

Going by the fact that ex-wall streeters are involved in KnC, things become a little more clear. (see greed is good above)  Undecided
Do you understand that....
they (The investor group) are using that power to attempt pulling thousands of Gox clients out of a huge loss?
That's just the opposite of greed.  It borders charity considering they don't need the GOX name at all to open an exchange.


...but yes...  I was referring to the way it went down earlier...  the Jupiter board dangle and mind changing while we were clueless...
but I get it now, and am somewhat relieved...(wall streeters)  but not much.    Tongue
I can't help but be excited about the possibility of reclaiming Gox losses; and a significant part of the Boden income will be used for that if the deal goes through.
legendary
Activity: 1316
Merit: 1014
ex uno plures
Folks, you gotta learn to roll with the times - as hard as it is to abandon your hopes and aspirations of getting rich quick on the back of cryptos.

Bitcoin prices are trending towards the cost of mining them.
No ASIC manufacturer is offering equipment that small customers can expect to ROI in less than a year. if at all.
Mining is becoming a utility business with returns that will trend towards 7% a year, just like water and gas and electricity generation.
To make money, you will have to do it at extreme scale in locales with cheap electricity.


There is a washout coming in the ASIC mining equipment business and the only companies which will survive are those that adapt their business model to the new normal. KNC obviously plans to be one of them.

The new 'great opportunities' in cryptos have moved up the food chain, to the infrastructure and application level.
hero member
Activity: 1316
Merit: 503
Someone is sitting in the shade today...
http://organofcorti.blogspot.ro/2014/04/april-6th-2014-weekly-hashrate.html

Quote
KNC is my largest concern right now. They now have more than 13% of the network, and they haven't made it easy to find out and track their data. If they want people to be less concerned about them having local control over machines that solved nearly one-seventh of the network blocks during the past week, then they need to be a little more open with their data and their plans.

It makes me more than a little uncomfortable that of the top five block solvers, only one is definitely a pure pool (BTCGuild), and only two of the five provide any public information (GHash.IO and BTCGuild).

Going by the fact that ex-wall streeters are involved in KnC, things become a little more clear. (see greed is good above)  Undecided

why would knc provide customer transparency?  they set a vague future date, get all the sheeps' fund, use it to buildout massive mining farms for themselves, then deliver to you at the last min of the stated Q2/3 whatever vague date, by then the difficulty is so high (caused by knc using your money) the miners are worth cents on the dollar. 

It's the perfect business model, you don't need to be a rocket scientist to figure it out. First deliverable was to build brand, after that it's just auto drive of get fund, build, devalue, then deliver.   

Cha chin!  Wink
hero member
Activity: 882
Merit: 1003
http://organofcorti.blogspot.ro/2014/04/april-6th-2014-weekly-hashrate.html

Quote
KNC is my largest concern right now. They now have more than 13% of the network, and they haven't made it easy to find out and track their data. If they want people to be less concerned about them having local control over machines that solved nearly one-seventh of the network blocks during the past week, then they need to be a little more open with their data and their plans.

It makes me more than a little uncomfortable that of the top five block solvers, only one is definitely a pure pool (BTCGuild), and only two of the five provide any public information (GHash.IO and BTCGuild).

Going by the fact that ex-wall streeters are involved in KnC, things become a little more clear. (see greed is good above)  Undecided

They also mine in the dark unknown pools too. In addition to pointing some miners to other pools to spread hashrate around.
full member
Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
http://organofcorti.blogspot.ro/2014/04/april-6th-2014-weekly-hashrate.html

Quote
KNC is my largest concern right now. They now have more than 13% of the network, and they haven't made it easy to find out and track their data. If they want people to be less concerned about them having local control over machines that solved nearly one-seventh of the network blocks during the past week, then they need to be a little more open with their data and their plans.

It makes me more than a little uncomfortable that of the top five block solvers, only one is definitely a pure pool (BTCGuild), and only two of the five provide any public information (GHash.IO and BTCGuild).

Going by the fact that ex-wall streeters are involved in KnC, things become a little more clear. (see greed is good above)  Undecided
full member
Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
Brock Pierce (a KNC Founder) is notably the main one of the "Group" Bidding for Gox!
If they save Gox....  I will worship the ground they walk on.

http://www.coindesk.com/investor-group-offers-buy-mt-gox-one-bitcoin/


Can u inagine an ex-Goldman Sachs/Morgan Stanley heading up Gox? wow


GREED IS GOOD!  Shocked Roll Eyes  http://www.youtube.com/watch?v=EoMpcz0S3hc
legendary
Activity: 3234
Merit: 1221
What is quite surprising to me is that, apart from Bitmain, no other manufacturer has ANY price flexibility whatsoever. This indicates that hardware suppliers simply choose to mine themselves when bitcoin prices are declining. Every manufacturer price was completely unrealistic in the last couple of weeks (KnC, cointerra, spondoolies, even Bitmain S2). I think that we are about to experience a hard crash in hardware manufacturers. I dream for a modular low power cheap machine. Some guy has S1 undervolted with less than half electricity consumption, but still decent hashing:
https://bitcointalk.org/index.php?topic=526060.20

The Chinese A1 Dragonminers are dropping in price slowly. They've gone from $5K a few weeks ago to $2.6K now.
legendary
Activity: 1428
Merit: 1000
https://www.bitworks.io
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue

Not only for americans, Bitstamp does it's KYC procedure for european as well now!
How long from *approved  to  account credited?
It sucks they didnt credit it upon approval... I suppose now im holding my breath till monday...


I've got their KYC email yesterday and answered all questions, but they haven't replied yet.

I did mine a couple of months ago, took about 4 days if I recall correctly..
legendary
Activity: 2044
Merit: 1055
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue

Not only for americans, Bitstamp does it's KYC procedure for european as well now!
How long from *approved  to  account credited?
It sucks they didnt credit it upon approval... I suppose now im holding my breath till monday...


I've got their KYC email yesterday and answered all questions, but they haven't replied yet.
legendary
Activity: 938
Merit: 1000
LIR DEV
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue

Not only for americans, Bitstamp does it's KYC procedure for european as well now!
How long from *approved  to  account credited?
It sucks they didnt credit it upon approval... I suppose now im holding my breath till monday...
legendary
Activity: 2044
Merit: 1055
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue

Not only for americans, Bitstamp does it's KYC procedure for european as well now!
sr. member
Activity: 336
Merit: 250
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue
I wonder if it has anything to do with FACTA/ H.R. 2847 coming up in July?
legendary
Activity: 938
Merit: 1000
LIR DEV
KNC refunders... beware of new , intense "Know Your Customer" (KYC) verification on Bitstamp for Americans...
After enduring KNC's slow refunding process, I encountered a week of dialogue at Bitstamp... and eventual approval a day ago, but the funds have yet to be credited to my account. Might look for another exchange....

*Two others I know had the same issue
full member
Activity: 141
Merit: 111
just received my refund for order # #1115X in USD.. thanks

Congrats, when did you request this refund ?

Requested last April 3. took 8 days to received the funds in my bank..
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