Swedish ASIC miner company kncminer.com - page 528.

Biodom

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Quote from: merv77 on April 11, 2014, 01:49:26 PM

article/quote from bloomberg businessweek

Quote

KnCMiner, based in Stockholm, operates about 7,000 machines. While the mining company’s electric bill in March came to $450,000, the computers mined 21,000 bitcoins, according to co-founder Sam Cole.

source: http://www.businessweek.com/news/2014-04-11/bitcoin-mining-boom-sputters-as-prospectors-see-real-cash-losses

if they are mining 21,000 BTC a month it would make their farm just over 20% of the network. Huh

This article is absolutely devastating for individual miners future. 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

raskul

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Quote from: faetos on April 11, 2014, 04:11:34 PM

their honesty record is a bit sketchy.

nice of you to play it down. Cheesy

faetos

hero member

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gotta let a coin be a coin

They said they mine over 600 coins a day and then turn around and sell them. That's at least 18,000 a month. They're probably mining more than that considering their honesty record is a bit sketchy.

merv77

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1.21 GIGA WATTS

I also requested refund for 1 neptune today

I will post back when I receive funds in my account

server

legendary

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1 BTC =1 BTC

Quote from: xxaudioxx on April 11, 2014, 03:07:35 AM

just received my refund for order # #1115X in USD.. thanks

Congrats, when did you request this refund ?

RoadStress

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Quote from: merv77 on April 11, 2014, 01:49:26 PM

article/quote from bloomberg businessweek

Quote

KnCMiner, based in Stockholm, operates about 7,000 machines. While the mining company’s electric bill in March came to $450,000, the computers mined 21,000 bitcoins, according to co-founder Sam Cole.

source: http://www.businessweek.com/news/2014-04-11/bitcoin-mining-boom-sputters-as-prospectors-see-real-cash-losses

if they are mining 21,000 BTC a month it would make their farm just over 20% of the network. Huh

They aren't mining 21k BTCs per month. Read again. "the computers mined" For me it's what they mined from the start until now. We don't know when they started.

Even if they had 20% so what? Does it matter for you or for me? Not so much (as long as they don't push to 51%). What matter for us regular miners is the TOTAL hashrate, not what KnC has.

Also: http://organofcorti.blogspot.ro/2014/04/april-6th-2014-weekly-hashrate.html so chill.

merv77

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1.21 GIGA WATTS

article/quote from bloomberg businessweek

Quote

KnCMiner, based in Stockholm, operates about 7,000 machines. While the mining company’s electric bill in March came to $450,000, the computers mined 21,000 bitcoins, according to co-founder Sam Cole.

source: http://www.businessweek.com/news/2014-04-11/bitcoin-mining-boom-sputters-as-prospectors-see-real-cash-losses

if they are mining 21,000 BTC a month it would make their farm just over 20% of the network. Huh

yelloyello

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@ Biffa

How did you manage a local pickup? Simply asked?

5craziest

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Quote from: Paladin69 on April 11, 2014, 01:07:58 AM

Quote from: Gazza1 on April 10, 2014, 10:54:28 PM

How about you guys refund everyone on their Titans and discontinue production. You are going to destroy the scrypt coins. It won't even be funny and everyone with Gridseed miners are going to be pissed.

Titan's can't be refunded.

Not half as pissed as the people foolish enough to fork over $10k for a preorder Scrypt machine

Biffa

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Quote from: dropt on April 10, 2014, 08:33:01 PM

Quote from: opentoe on April 10, 2014, 06:15:19 PM

Worship the ground they walk on? Dude, you gotta get laid more often. Stop putting your nose up people's asses and just be a man. If Gox was owned by anyone affiliated by KNC it would be the downfall of the bitcoin community. There would be more fees, taxes, charges then regular banks have. Horrible customer service and just a plain miserable mess that would always be better from the latest annoucement they make that better things are coming but never do. Gox needs to be dead and buried.

You can buy bitcoin for $370 right now. Why in the world would anyone put money towards mining hardware. As I said before, it will go down to $200 and stay there for a while. People spending $10k on vaporware when bitcoin prices are this cheap. Stop drinking the kool aid people!

Anyone who is buying hardware right now needs to get their head checked, anyone who's still holding onto KnC refundable Neptunes needs it checked twice.

I get my head checked on a regular basis

I'm keeping my 11xx CA order PLUS I also managed to get local pickup as well. That should be interesting.

xxaudioxx

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just received my refund for order # #1115X in USD.. thanks

raskul

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Quote from: ?? on ??

HA HA!!

Discontinue.....

With these guys' creepy wallet, PLUS multiple dar-tar haus's, PLUS GOPay (that doesnt seem to work) PLUS taking over Mt.Gox theyre are certainly positioning themselves to be the Pwners of Cryptos.

No doubt there are those among us whose panties will be moistening at the prospect of some 'preferential' abuse

panties got moist higher up this page mate.
If anyone who has money in gox, and there is some kind of resurrection, isn't the safest option just to get that money out and use another exchange?
i used gox for both business and personal transactions and found nothing but trouble, so , regardless of whoever takes over gox, i won't be fucking using it, ever.
That is, ESPECIALLY if it's owned by some network grabbing chickie-in-da-baskie mutherfucking scamming wankstain involved in KnC.

Paladin69

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Quote from: Gazza1 on April 10, 2014, 10:54:28 PM

How about you guys refund everyone on their Titans and discontinue production. You are going to destroy the scrypt coins. It won't even be funny and everyone with Gridseed miners are going to be pissed.

Titan's can't be refunded.

samsonn25

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Quote from: ?? on ??

HA HA!!

Discontinue.....

With these guys' creepy wallet, PLUS multiple dar-tar haus's, PLUS GOPay (that doesnt seem to work) PLUS taking over Mt.Gox theyre are certainly positioning themselves to be the Pwners of Cryptos.

No doubt there are those among us whose panties will be moistening at the prospect of some 'preferential' abuse

Oh trust me their data farms they are building will be fcked when difficulty is 100 Billion. However they build asic machines at wholesale cost......but

But since it basically cost them nothing to build because they made alot from the first Saturns, Jupiters, and some Neptunes they could always rent it out.

Gazza1

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How about you guys refund everyone on their Titans and discontinue production. You are going to destroy the scrypt coins. It won't even be funny and everyone with Gridseed miners are going to be pissed.

DPoS

sr. member

Activity: 462

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Quote from: ?? on ??

Refund requested: April 2.
Refund in my Bank: April 10.
8 days.

In other news. I turned off all of my batch 1 Avalons today. At my electric rates, $0.18/kWhour, they make bitcoins for $440 each.

I have some Juipiters they make bitcoins for $55 each.

For comparison a Neptune if delivered September 1 when the difficulty is 45.5 million will make bitcoins for $213 each.

I'm now a simple poor man again with a lot of cold computer parts in my basement.

Dom

batch one Avalons and poor usually dont go in the same post

timmmers

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Wow look at all these people trolling KNC. That used to be frowned upon Cheesy

Stepped away a month or so and everyone woke up. Excellent.

Now, in all your estimates and plans I wonder if anyone has considered that the price of BTC may drop and stay where we were before the Jupiters 1st appeared at 100 dollar region, and how that will play with whatever they spend on hardware/hashing? I feared it may due to merchants selling and the Chinese and other bad effects, didn't know KNC were selling so much until now. Worrying that a lot of people seem to assume it will rise to something like the bubble days near 1k again. In any meaningful time frame anyway.

Sad to see so much faith go unrewarded, was hoping to see BCoinorama around and his opinions..I can see why he's not however. Roll Eyes

dropt

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Quote from: opentoe on April 10, 2014, 06:15:19 PM

Worship the ground they walk on? Dude, you gotta get laid more often. Stop putting your nose up people's asses and just be a man. If Gox was owned by anyone affiliated by KNC it would be the downfall of the bitcoin community. There would be more fees, taxes, charges then regular banks have. Horrible customer service and just a plain miserable mess that would always be better from the latest annoucement they make that better things are coming but never do. Gox needs to be dead and buried.

You can buy bitcoin for $370 right now. Why in the world would anyone put money towards mining hardware. As I said before, it will go down to $200 and stay there for a while. People spending $10k on vaporware when bitcoin prices are this cheap. Stop drinking the kool aid people!

Anyone who is buying hardware right now needs to get their head checked, anyone who's still holding onto KnC refundable Neptunes needs it checked twice.

Phoenix1969

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LIR DEV

Quote from: opentoe on April 10, 2014, 06:15:19 PM

Quote from: Phoenix1969 on April 10, 2014, 05:49:02 PM

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

Worship the ground they walk on? Dude, you gotta get laid more often. Stop putting your nose up people's asses and just be a man. If Gox was owned by anyone affiliated by KNC it would be the downfall of the bitcoin community. There would be more fees, taxes, charges then regular banks have. Horrible customer service and just a plain miserable mess that would always be better from the latest annoucement they make that better things are coming but never do. Gox needs to be dead and buried.

You can buy bitcoin for $370 right now. Why in the world would anyone put money towards mining hardware. As I said before, it will go down to $200 and stay there for a while. People spending $10k on vaporware when bitcoin prices are this cheap. Stop drinking the kool aid people!

Sorry, but I and thousands of others would really enjoy reclaiming what we had on Gox.
If they are willing to do that, and they are; then that's just Golden.

Everything that has transpired makes alot more sense now knowing that there were american bankers pulling KNC's strings in the background.
Explains alot.... interesting times.

Phoenix1969

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Quote from: MANofthePEOPLE on April 10, 2014, 06:08:46 PM

Quote from: Phoenix1969 on April 10, 2014, 05:59:31 PM

Quote from: MANofthePEOPLE on April 10, 2014, 05:55:22 PM

The only good thing about bitcoin dropping is that KNC makes a lot less money.

and enables savvy traders to buy at a good price... Wink

Alot less....no, not really.... remember they are adding to that facility on a daily basis, so droppage yes, but not by much

True, but you can be sure they are making a shitload less than they were predicting with btc this low

Yep i agree...
but check this out... Knowing btc price over the last month has dropped 30% or whatever number it actually is....
What percentage of growth do you think the facility encountered over that same period?
I'm thinking 80ish plus? see my point?
Rate of actual kronar income growth slowed down, but still growing in the actual number of kronar cashed out from BTC every day

Topic: Swedish ASIC miner company kncminer.com - page 528. (Read 3050075 times)