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Topic: Swedish ASIC miner company kncminer.com - page 623. (Read 3050073 times)

copper member
Activity: 2898
Merit: 1465
Clueless!
February 23, 2014, 10:24:23 PM
Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or they buy a nice house in Russia/South America. Grin

yeah...but you notice the above applied to Butterfly labs when the federal trade commission types I and others contacted about not getting equip from BFL the response was "what are you talking about ...you got the equip in 11 months etc"

ie the laws say one thing but 'regulators' like cop's do the enforcement...this was true up and down the line from paypal exec committee to BBB (although they have no power)

so.....

same would apply here in the usa if what you say is true above

although I did hear that some people in the EU got $$$ back but not in the states

so I assume if KNC shows they can deliver 'equiv' hash rate in their Q1/Q2 timeline...their a*ss is covered assuming your scam accusations like bfl does are correct

my 2c worth

Searing
legendary
Activity: 3878
Merit: 1193
February 23, 2014, 08:05:59 PM
link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

I don't see a link to the sources. It is based on GPL sources, and thus must be made available.
hero member
Activity: 574
Merit: 500
1.21 GIGA WATTS
February 23, 2014, 07:10:05 PM
link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

just noticed they also have this URL: http://www.kncwallet.com/
legendary
Activity: 1988
Merit: 1077
Honey badger just does not care
February 23, 2014, 06:55:20 PM
link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.

Wait, it's closed source and you can only download and install executable application?

Who in their right mind would install that, instead of open-sourced and battle tested blockchain.info Android wallet?
https://github.com/blockchain/My-Wallet-Android
https://blockchain.info/wallet

It looks like KnC has trying to establish it's identity, floating between hardware manufacturer, software vendor and service provider (Datacenter). You can't be all things at once, even Google sold it's hardware manufacturing business (Motorola) to others.
full member
Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
February 23, 2014, 06:37:08 PM
I will say one thing, the KnC webshop keeps your from ordering more than they have it seems where other companies do not...

hero member
Activity: 574
Merit: 500
1.21 GIGA WATTS
February 23, 2014, 06:00:48 PM
link to KNC wallet. http://beta.kncwallet.com/

I think they are trying to compete with their friend Josh at BFL and their wallet idea.
legendary
Activity: 3878
Merit: 1193
February 23, 2014, 05:03:31 PM
I can't find the source to KnC Wallet. Anyone have a link to it?
legendary
Activity: 3990
Merit: 4597
February 23, 2014, 05:01:12 PM
Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or the buy a nice house in Russia/South America. Grin

I would probably disagree on fraud. In some sense it is now irrelevant because they will certainly pre-mine a lot of BTC at datorhall before giving us anything. Getting 3th late in 2nd Q would be largely meaningless because of the difficulty increase caused by the datacenter/datorhall/"Death Star".

Is it ethical or even legal to injure your own customers?
Datorhall is at 1.8Th right now, which is ~7% of all network, therefore the current total mining income of Jupiter/Saturn customers was reduced 7% because of this buildup-this is for certain. The new data center already mined ~3000BTC in less than 3 wk.

Perhaps we are too harsh and KnC will deposit proportional BTC (datorhall income-expenses) for each Neptune+Jupiter customer.
If they do that-I would be amazed, but what is the chance of someone doing what is right and not the most profitable? You tell me  Undecided.
full member
Activity: 216
Merit: 100
Don't let the nam-shub in your operating system.
February 23, 2014, 04:25:22 PM
At least miners have fun generating NEW BTC.  Holding stale, old BTC just doesn't seem like much fun to me.

This is why I got into mining, not an ROI... guess I'm a gadget geek  Wink
hero member
Activity: 635
Merit: 500
February 23, 2014, 04:07:52 PM
Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or the buy a nice house in Russia/South America. Grin

Maybe at Siberia?

 Grin
hero member
Activity: 490
Merit: 500
February 23, 2014, 03:50:48 PM
Very clever! I "respect" them as businessman. That's how business works. The strongest dog fucks...

Not very clever. That's how wire fraud works.

If they took money to build a 20nm mining machine from Americans, and don't deliver because they spent it on something else, expect to be extradited by the FBI shortly! Hopefully they will have something by the end Q2 2014 or they buy a nice house in Russia/South America. Grin
hero member
Activity: 635
Merit: 500
February 23, 2014, 03:29:41 PM
Seriously, why in the world would KNC want their own wallet program? Is this another move to get their greedy little hands onto even more BTC?

Yes Grin

It's already answered in their newsletter and I mentioned it a few weeks ago.

"we will simply fill your wallets directly and you won’t have to worry about anything else"

Hell, they don't actually need any machines running - they can simply work out how much you are due for 3TH at difficulty in July (e.g. 0.0002BTC/day) and pay it to your wallet directly from their stash! One bitcoin will go a long way in July 2014!

If the datacentre video is anything to go by, they are mining the sh!t out of the network and going to use those coins to pay people directly to their "knc wallet", you won't get a choice which pool your hash power mines etc.

So let's say you're forced 6 month neptune cloud hashing contract earns you 6 bitcoin. They mined it already! You'll be getting coins they've mined since October last year.

So pretty much every penny they take will be pure profit and I assume this will be used to build a 20nm product sometime in 2014/2015. They've gambled all the Neptune customers money on datacentre(s), this is the plan to make that money back before anyone realises.


The Dukes of Moral Hazard



Very clever!

I "respect" them as businessman. That's how business works. The strongest dog fucks...

But i'm not a knc customer anymore and f...k em all....
hero member
Activity: 798
Merit: 1000
February 23, 2014, 02:34:49 PM
Seriously, why in the world would KNC want their own wallet program? Is this another move to get their greedy little hands onto even more BTC?

Yes Grin

It's already answered in their newsletter and I mentioned it a few weeks ago.

"we will simply fill your wallets directly and you won’t have to worry about anything else"

Hell, they don't actually need any machines running - they can simply work out how much you are due for 3TH at difficulty in July (e.g. 0.0002BTC/day) and pay it to your wallet directly from their stash! One bitcoin will go a long way in July 2014!

If the datacentre video is anything to go by, they are mining the sh!t out of the network and going to use those coins to pay people directly to their "knc wallet", you won't get a choice which pool your hash power mines etc.

So let's say you're forced 6 month neptune cloud hashing contract earns you 6 bitcoin. They mined it already! You'll be getting coins they've mined since October last year.

So pretty much every penny they take will be pure profit and I assume this will be used to build a 20nm product sometime in 2014/2015. They've gambled all the Neptune customers money on datacentre(s), this is the plan to make that money back before anyone realises.


The Dukes of Moral Hazard


legendary
Activity: 938
Merit: 1000
LIR DEV
February 23, 2014, 01:37:18 PM
Hmm, the KNC Wallet....
Mine btc/    btc to qt/     qt to PAPER wallet
I suppose you could actually mine straight to paper as well, but whenever you go to withdraw, you'd need a new wallet, not too bad
There is nothing safer than that way I think.....  

It's pretty easy to print a hundred wallets for future use.
newbie
Activity: 52
Merit: 0
February 23, 2014, 01:19:51 PM
I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?


I could think of several venues:

1. they will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.

I hope it would be for #4.
Likely it has to do with the reach into the mobile market for their new farm being built.

Could someone point me towards the link to their release article? Or did this beta just appear out of thin air?
hero member
Activity: 575
Merit: 500
February 23, 2014, 12:34:08 PM
Investing involves more than putting all your resources into one pipeline. While we definitely purchased large amounts of BTC at the time, mining helped offset the long term risk associated with market volatility. Mining provided steady and better predictable results to support the uncertainty therein.

Exactly, mining is a hedge vs bitcoin price since it has potential to be profitable in usd terms independent of if bitcoin is falling/rising/stagnant as long as your mining operation is competitive vs the rest of the network.

Personally I have only ever invested BTC into mining that I was going to convert into FIAT anyway. So then it became a question of investing into mining or holding fiat. Hence I was willing to take on the investment risk of mining rather than holding more BTC of which I had enough anyway.
member
Activity: 82
Merit: 10
February 23, 2014, 12:16:59 PM
I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?


I could think of several venues:

1. the will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.

Why would anyone use online, internet wallets, smart phone wallets, or keeping their BTC's online is asking for trouble.  If you do, you are at their (exchanges') dictatorship.  Look at Mtgox, BTC-E or any online wallet/exchanges.    Can't withdrawal BTC or cash means your BTC is worthless.  I keep a majority (of my BTC's) on my QT and transfer a few (into exchanges) just before I sell; in and out.
legendary
Activity: 3990
Merit: 4597
February 23, 2014, 12:10:22 PM
I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.

Seriously, why in the world would KNC want their own wallet program? How does it benefit them?


I could think of several venues:

1. they will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in banking IT.
legendary
Activity: 1274
Merit: 1000
Personal text my ass....
February 23, 2014, 11:46:53 AM
The app doesn't work on my USA phone.  I keep getting an error code, "Error sending SMS please try again (500)".  I rated the app a 1 star on the Play Store.


Edited to add.  I finaly received the activation code aobut 1 and 1/2 hours later.  Entered the code and it's working.  No $5.00 worth of bitcoin.  Guess I am not one of the first 1,000 user.


Seriously, why in the world would KNC want their own wallet program? Is this another move to get their greedy little hands onto even more BTC? One day you'll notice all your BTC is gone and you'll have to fight to get it back. Stick with the Armory and you'll be safe. Have to question their intentions and motive on why they want their own program? How does it benefit them?
legendary
Activity: 1274
Merit: 1000
Personal text my ass....
February 23, 2014, 11:41:22 AM
Upgraded to new 1.0 Firmware, my November Jupiter went from 669 GH to 683 GH without any tweaking. HW errors went from around 2% to 0.01%...

And we had to wait how many months for that to happen? We should of had this firmware a long time ago. A little too late.
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