Topic: Swedish ASIC miner company kncminer.com - page 530. (Read 3050075 times)

What's plan B?

Im almost certain they cash out at least 50-60% of the btc they mine daily if not weekly.

Maybe they don't have any BTC they can use.
It could be that they cash out all mined BTC every day under contract to some big player/ exchange/ inverstor.
Maybe the Winkelvoss's buy it all.
Who knows?
KNC aren't saying.

You'd think with all the BTC they have been mining they could have helped us out.  Just keep our USD and convert it themselves.  That would have been the best "customer appreciation" of all.

Sorry if this is a noob discovery, but no refunds on the Titan made my decision easy.  Refunding.  Even the "Customer Appreciation" batch isn't worth it.  The Bitcoin price needs to be $1200 to break even, and that involves leaving the machines run for a LONG time.  The future is so uncertain with these astronomical difficulty increases, possible equipment failure downtime, etc.

$10K is just too much for each Neptune.  Even if they started shipping the rigs right now, which they won't, we lose almost $2K waiting on them for a week.  Even the Franken Jup doesn't make sense.

Buying BTC right now versus waiting for the price to go back to $1200 earns you 2.5 BTC to 1

I asked to be refunded in BTC, they said no so I emailed them my wiring instructions today, lets see how long it will take.

Antminers?

Has anyone who paid in USD wire been able to get a refund in BTC?

yeah we are likely looking at 400 coin here soon the way things look maybe lower..if you take your 10,131.80 for a CA batch neputune that is

that is 25.33 btc then add another coin at least for the power supply

yep just don't make sense with the amount of bitcoin processing power gonna get dumped this summer....that Neptune is gonna have some big issues when
spondoogles or whatever it is called is releasing in AUG 16TH miner (sale) for 20k or so ...

so BEFORE the IRS annoucement by a few days and on the MISGUIDED HOPE from a BFL email I would bet back at least 5K on a monarch (hey have the email
and everything bfl says i will get a refund...er that was before the class action suit...however...(Searing is sad sad sad)

I 'i'mpulsed bought" a Titan ..if for no other reason I can "MINE* something with it over electricity imho longer then 5 months...

competing against the GH farms /stuff coming out..race I can't win ...so for BTC at least gonna just buy the stuff....

anyway my bet ...rather try it at the front of the line for alt coin asic mining (of course this fall kNC will announce its Titan farm)...imho
personal mining of any kind in the home is kinda doomed or at least the kinda 'boom' we had with Jupiter's etc

so anyway...Titan is my last 'big' hurrah may get smaller stuff to play with ..have an www.alpha-t.net toy on order supposedly july at 16mh
that def is in the toy category..but hey can always sell more stuff from the attic

but yeah...looks like a buyers market for a bit (why do i get the impression a couple decades ago that same line was used in a Beanie Baby post?) ..er shudder

Bitcoin is much like a tobaggon ride down a forbidden hill ....very fun while it lasts but even before you start you are unsure of the outcome!

Searing



you are a god...i am not worthy.........

of course i just started this hobby with a jupiter this fall after bfl shafted me.....so maybe i too will learn

Searing
 

You Beast 

Just a hint...

I had 3 very first Neptune orders.

I refunded them the day after this plan b bullshit.

Now I have 14+ th working....

What do you think?

Same.  I requested a refund on my CA batch 1 Neptunes.  Mine was a very early order, but I still can't justify keeping the order vs a refund at this point.

Refund in USD received for my Batch 2 Neptune order.

Kinda bummed I went the refund route (wanted the miner), but I couldn't rationalize keeping that pre-order any longer with the landscape changing so quickly, recently :\

i'm pretty sure it'll be a very profitable toy, and i'm sure i've said it before, this is the correct attitude to have with mining; for most of us now, it's not some big business venture, but something we enjoy doing, and will continue to do because we believe in the coins (or like playing with the alts) that we mine. I'm still having a lot of fun right now, mining some of my rig on btc and playing around with alts, with other parts of my rig.

take difficulty out of the equation and that angst can be easily channeled into enjoyment.

well if the above is correct the arms race if fully on ...this little peasant is gonna maybe alt coin mine for fun...but stay out of the way of the trampling of the elephants....that is a lot of hash gonna dump by the end of summer not to mention knc and other farms

will be interesting to see if all this hash drives price of coin down as the GH farms cash out right away day by day (especially need to do this in usa now...because of capital gains if you cash out the same day no capital gains from the day you mined it)

ie cheap BTC money...due to this stuff shooting thru the tube

so can 'useage' keep up world wide to keep the price up with places like KNC making this much coin and shooting it out the door?

anyway me...ie modest 'toy' miners....

anyway looks to me like buying coin is the way to go...with all this 'angst' with equipment etc and large farms thru summer BTC is either gonna go up as this drives demand or some really really cheap coin imho

what do i know however i got a Titan as a toy....sigh.....

Searing

I agree ...  going to get an SBA loan, a few government grants for putting in my time in the service, and load up on those babies ( sarcasm and wishful thinking for that kind of hashing power NOW ...  )

sad since the gridseeds are a cool company and just put out their g-blade but the economics and climate of scrypt is so vile now.... still tempted to grab one since you can buy with cc but looks like crypto as a whole will keep getting pounded price wise..

probably better to invest on the service side and let the big whales eat each other on mining

D - It was the ONLY choice I could see, bought back the BTC I used to orig. "purchase", loan KNC and pulled the trigger on Spoondoolie SP10

hurrah.

I considered converting one of my Neptunes into a Titan but fuck these KnC pieces of shit.  Scrypt diff is going to explode once they and the competition get chips and start mining, also the exchange rate won't go up enough.  Also +1 on their bullshit wire transfer for refunds policy.  Now we have to eat the fees and taxes because they fucked up and turned on us.  Fuckin' assholes, hope they rot.