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Topic: Swedish ASIC miner company kncminer.com - page 542. (Read 3050075 times)

legendary
Activity: 1904
Merit: 1007
Quote
Refunds are processed in USD via bank transfer, only in some circumstances where it may not be possible to refund via bank transfer, our management can approve a BTC refund. BTC refunds are not given for single Neptune purchases.

KnC sucks at this point. I don't understand the logic behind not giving BTC refunds for single Neptune orders. Knowing that they have 5PH mining at this moment this seems a bit stupid. Also only one time per week? Wtf? I can have my refund in 5 mins with BTC, but i have to wait a few days for them to wire the money and then another few days to get it. Sad times. KnC you let me down!
copper member
Activity: 2898
Merit: 1465
Clueless!
well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink


The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285.

For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day.

Those numbers look crazy. 40mil $ /month mining operation.
That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny  Undecided
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ

KNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years.

huh.

imho they could have given us customers options on 20% of what they used in the farm to buy..with us promoting them as "fair" in an industry without fairness...not to mention refunds...they would have made more by making the bitcoin pie and their sales bigger then ..way bigger then the 20% they gave to us in modules on the jupiters etc...and with an honest announcement that they simply can't get the equip from chip to customer fast enough announced a decent virtual miner option with those facts and track record above......they would have been even larger/bigger and badder then they are now...hell i'd have virtually mined under that trust system...and promoted the hell out of them....but they took the short term gain vs long term gain...dropped the ball..but it would have been a fun ride imho

Searing
copper member
Activity: 2898
Merit: 1465
Clueless!
Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.


interesting is this recent or do they do this for order of more then 2 units anyway ...curious?
hero member
Activity: 778
Merit: 563
Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.

Could you please tell me how many days from "Refunded" to dollars in your bank account ? Smiley

Like I said, I got BTC so it never made it to my bank account.   From the request to the BTC received was 8 days.  
sr. member
Activity: 504
Merit: 250
well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink


The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285.

For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day.

Those numbers look crazy. 40mil $ /month mining operation.
That makes the Bitmain antminers sales wallet with 19600 BTC look...tiny  Undecided
https://blockchain.info/address/1QB8Ds5KbGYBLQa5RyDQ2sVUeSKWf7qgkZ

KNC had great scheam to make some real business with Jupiter here. Instead of cashing out existing hardwares why not fund the hardware with preorders. Build the datorhall to old helicopter hangar. Make big enough mining operation to pay out any shipment delays to pre-order customers while continue developing new hardware to keep the datorhall populated with state of the art asics for upcoming months and maybe years.

huh.

They made this much with declining BTC prices. What if price had gone up.. huh. What a gamble to become BTC millionares.
hero member
Activity: 560
Merit: 500
Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.



Could you please tell me how many days from "Refunded" to dollars in your bank account ? Smiley
hero member
Activity: 778
Merit: 563
Anyone received a btc refund?

I got a refund in BTC for 3 Neptunes, I asked for USD but that was denied.
donator
Activity: 2058
Merit: 1007
Poor impulse control.
well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink


The network has been solving ~1200 blocks per week for a while now. That puts the block rate at ~ 171 blocks per day, and btc per day at ~ 4285.

For KNC: 0.13 * 1200/7 * 25 = 557.1429 which (at current exchange rates) ~ US$255728.6 per day.
legendary
Activity: 980
Merit: 1040
You do realize mask is before tapeout, right?

You got that wrong. Tape out means the design is sent to the mask manufacturer for validation and production. The mask set can only be made after tape out.
hero member
Activity: 854
Merit: 500

thanks

"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.


It's only 360 btc or about $150k USD now.

well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink

I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan".
What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did.
I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney.
Remember Google-"don't be evil"? Ha!


Sadly the btc community needs a few henchmen...lol

Have we met?
hero member
Activity: 812
Merit: 1000

thanks

"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.


It's only 360 btc or about $150k USD now.

well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink

I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan".
What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did.
I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney.
Remember Google-"don't be evil"? Ha!


Sadly the btc community needs a few henchmen...lol
legendary
Activity: 3990
Merit: 4597

thanks

"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.


It's only 360 btc or about $150k USD now.

well, if organofcorti info is correct, then KnC is getting 0.13X3600=468BTC/day or $212K, but who is counting?  Wink

I think that they had this plan (using preorders to built datorhall) all along. That was the whole point of seemingly moronic and naive "network protection plan".
What they were telling us is this: we will not sell any more jupiters to you, but we are free to build anything we want-and they did.
I actually never expected anything else because all seemingly good-natured pronouncements always end up being a bunch of baloney.
Remember Google-"don't be evil"? Ha!
legendary
Activity: 938
Merit: 1000
LIR DEV
Found this post in the knc wallet thread....

Craziness!  Seriously demented welfare move imho... but industrious.
legendary
Activity: 1274
Merit: 1000
Personal text my ass....
I E-mailed the author to find out... will let y'all know
Kronor or USD

But I'm still thinking it may be USD...  
Isn't that the preferred denomination when purchasing Products through bank transfer at KNC?
...and I'm not sure there is an exchange that has enough trade volume in kronor to handle that.... or any exchange that handles kronor... is there?

It's likely they traded btc for usd then usd for kroner (or just held the usd)
Exactly what I was thinking... Sold for USD, then converted at their own bank is the likely possibility.


Here's the post mentioned earlier about an announcement


Finally a tidbit.   Not water-cooled; wow, like they couldn't have told us that a eons ago, and nearly useless information.
Soon?  as in today, this week, or this month?
Seems to me they are much more revealing when talking to press than customers.
Let's get Heraldo on the case.....  hehe
at least it's SOMETHING besides silence.

Better would be having them finish these sentences...
"We expect the chips to arrive within...."
or...   "Last word from the foundry was...."
or...   "Boden will be used to....."
or...   any real, relevant information.



That's called a PRE-announcement for an announcement. It is a marketing tactic to make people keep checking the status over and over and possibly hold off on more refunds. Who knows at this point.
legendary
Activity: 2478
Merit: 1020
Be A Digital Miner
thanks
"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "
Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.
It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.
It's only 360 btc or about $150k USD now.
I think you have the correct calculation.   people were confused.   Still a nice daily haul by people that were "just in it for the good of bitcoin and would never solo mine more than 5% of what they sold their customers......"
hero member
Activity: 770
Merit: 509

thanks

"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.


It's only 360 btc or about $150k USD now.
legendary
Activity: 1274
Merit: 1000
Personal text my ass....

thanks

"" We are serving more than three million dollars a day to resell the bitcoin we break ourselves," said Sam Cole , founder and vice president of KNC Miner with 80 employees and offices on West Higgins Road in central Stockholm. "

Impossible...3600 BTC a day at $450 will be just $1.62mil total market output. Cannot be $3 mil/day.

It has to be impossible. What organization has that kind of money to buy all that bitcoin daily? NONE.
legendary
Activity: 938
Merit: 1000
LIR DEV
I wondered about the KNC wallet(the why part) now it makes sense. geeze.
But does that make it sound as if the Boden facility hashpower wll be for sale?
... and maybe a KNC wallet could be a requirement for that?
I mean, what would get peeps to use it?
I think I remember them mentioning mining directly to a wallet?

Oh, hold on.... NOPE.   What's this?....


Thats just weird.
I think the author @   http://translate.googleusercontent.com/translate_c?depth=1&hl=sv&nv=1&prev=_dd&rurl=translate.google.com&sl=sv&tl=en&u=http://www1.idrottonline.se/BodenHandbollIF-Handboll/BodenHandbollIF1/BitcoinkoperBodenHandbollIFforvirtuellapengar/&usg=ALkJrhiiLe23e7LBhkG0BUxW-FxLd69ckw
is confusing regular Bitcoin transaction fees with what is being donated.

Knc may have pledged to donate the transaction fees earned from the Boden mining facility, which would have nothing to do with the transaction fees when sending to or from wallets, which I think is the case here.
The article doesn't translate well either.
hero member
Activity: 784
Merit: 1000
Even Scrypt mining will only be for the super rich.  Those Titan's don't make sense.  I even calculated 10 + 1 free.  You could buy so much more LTC at these $10 prices for $100K than what the Titan's would mine.

I think KnC is once again being secretive on the total sold.  And they currently have no limit on the amount people want to order.

Scrypt mining won't be like those wonderful early days of BTC mining.  It won't even be like the 2012 FPGA era.  There are too many rich assholes out there building giant farms the size of buzzdave's and it just keeps growing.

But if you buy LTC direct now it would be like buying in during the 2011 BTC era.
legendary
Activity: 1274
Merit: 1000
Personal text my ass....

The other interesting info from this:

"Bitcoin will by charging their customers a transaction fee of 0.02% passing through the nodes of Constance and through that to ensure one million investment in women's handball in Boden."

So not only the regular bitcoin transaction fee, knc are going to be scalping 0.02% off every transaction that goes through their KNCWallet (now you know what it's for).

So when they say they are offering free 6 month cloud hashing, it's also a lie, as they'll be scalping 0.02% fees off every payout.

And everyone thought I was nuts when I said the only reason why KNC wants their own wallet program is so they can fill their own pockets. People thought I was dreaming. The post history is there, I'm just too lazy to look for it.
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