Topic: Swedish ASIC miner company kncminer.com - page 624. (Read 3050073 times)

it is also a human nature thing...i as a noob and others learned enough in our noobieness stage to feel comfortable about getting a 'product' ie a physical miner to mine coin to an address .....dropping 7K for virtual coin to a virtual address was a bit too much of a leap i my noob days....(to be fair i thought knc unit would pay for itself at the then 400gh in like 8 or 9 months..and then i'd maybe get 9 months of utils paid on the house on it ..ie a hobby i think oct 18th when i got the unit it was like 150 usd a coin if i remember right..the next month or so it went to 1250 or whatever...so there is that aspect to this...)

so it was a hobby...now....i'm kinda at cross purposes...i should probably drop miners and buy but prob will keep one (hey imho of the depths of my silly mind......er what the heck) ..but probably i should dump the 2nd miner and just get coin

i suppose later in 20/20 hindsight i wll then have it beat into my head simply to buy coin...but again ...i'm a dull hairy silly primate..it takes a bit to pound stuff in my monkey brain...but then again 1 miner is still a toy to play with (hey coulda got a bass boat instead..its all good)

but again imho everyone buys some kinda miner 1st then they speculate....or at least everyone i knew as  a noob did this

Searing

Haha, Damn straight!
The reason for mining is not to make one wealthy but to support the network... Whenever I'm onboarding someone new, talking to a merchant etc they really want to know about mining. Always comes up because it's sexy; they usually give a sideways look and say 'what about mining?' but what they are really wondering is 'how do I print free money?'

This is exactly the question we asked ourselves when KnC first arrived on the scene... the price was too volatile to know what one would profit from it in the timeframe the miner would be running; Gox had just spiked from $38 - $260 then plummeted, then back to $140, then tapered off in a suicidal manner before adjusting to a (+) longer term trajectory. Our thinking was dropping $7k without knowing where the buyin leads was more risky than (could have been 70btc or 53btc) purchasing a miner which was a more predictable speculation (and we had already had success with)

Again this is hindsight and the question would hold very different meaning if any number of crazy things happened to the market in the interim

There are also stages of adoption some bitcoiners go through which factor into my learning experience:
'I believe this is going to be the best thing in the world!'
'Wait what about all this other technical stuff?'
'How do I get as much value as possible then turn it back into fiat currency?'
'Holy crap, I'm never day-trading again'
and finally 'Oh, so if I just hold it everything works out?'

Shouldn't this offer be here?

You'd probably get some takers

I'm pretty sure that 70 BTC will always be worth more than 45 BTC.



Then I have a deal for you! Send me 100 of your old BTC, and I'll send you back 50 brand new BTC. But wait, I can make it even more exciting! I'll send you up to 10 brand new BTC every month for 12 months. You'll never know how much BTC I'll send you! It's possible (but not guaranteed) that you'll end up with more BTC than you spent. Just imagine the excitement!

One thing "buy and holders" seem to forget... It is NO guarantee of profit.

I guess you could hold for 10 years but in 2024 those 100 bitcoin you bought in 2014 are still only worth 100 BTC in 2024 unless you sell them.  Sure, everyone would love for them to be worth $100k each in 10 years but what if they are worthless?

At least miners have fun generating NEW BTC.  Holding stale, old BTC just doesn't seem like much fun to me.

Yeah, and while those two categories are technically correct, there's hundreds of ways to purchase. One for every BTC/XXX trading pair, plus you can mine different things, cloud mining, coop mining, etcetera. Far too simplistic.

There is also the geek factor. Mining is interesting, so there is profit in that even if it's not as much MONETARY profit as just buying and holding.

right but there are a lot more creative ways to buy and run miners than just buy bitcoins which is why you see the price always stay higher than what those that keep looking at it like you do feel a miner should cost

There's 2 ways to get bitcoins, buy them or mine them. I'm having a hard time seeing how getting 46 BTC rather than 70 BTC is offseting the risk. Why would you want to mine less than you can buy?

I agree with your sentiment and support diversifying the investment. The other benefit is supporting the network dilution, maintaining stability; there are enough opponents of bitcoin at least this line must be maintained.

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.

In hindsight it is always easier to say one wishes to purchase at any point in the timeline (preferably prior to 2010).
Return on investment isn't predicated on what you might have made otherwise we would all be at -2000% ROI.
**checked my numbers for BTC again it is 46 BTC

Unless you have SNMP management tools on your network somewhere you can ignore this.

SNMP = Simple Network Management Protocol

It is a general protocol for managing networked devices.


SNMP 'community' is like a password.
There can be a general community and a read and/or write community also

SNMP 'managers' ???not sure?? might be hosts allowed to connect or another way to say read and write community strings.

YMMV


EDIT: It is a natural progression IMneverHO, KnCMiner needs a way to control a whole DC with one tool.
SNMP is one choice of tool.

depends when you got them.. if you got them after first week of Oct you made ~55BTC per Jupiter.. those lucky ones that got their miner a day or two at the beginning of Oct got about 7 more BTC

also, last summer using credit cards for miners was a huge deal since you couldn't buy btc easily that way (and without crazy fees of course)
so that was a great way to leverage up on a bet on price hike for bitcoin..   right now, the price isn't worth going leveraged up even if you could use credit on miners.

but to each their own on that speculation

Ouch! Is it really that bad? Had you simply bought BTC you'd have 70+ BTC. That's nearly a -50% ROI.

This warrant's a lengthy response. But as you are obviously smoking crack if you think "KnC invests in people first", I'll wait until you finish rehab before responding. In the meantime, please see the previous 1000 posts which point out knc broke every promise to their original customers who gave them the money to exist.

Maybe while you are at rehab, you can get some tips on overcoming self-delusion and share it with the people on here who are holding out on neptune, a physical 20nm miner,  being delivered in April or May or June

Looks like Bitcoin has turned the corner.  Probably due to the Goldman Sachs article.

This is the same discussion in May 2013 (when we decided to buy) and the same concerns you had in August of last year.

...had the price stayed the same from the summer onward I would have considered shooting myself in the other foot (just to keep it even), however your posts seem to reflect a history of supporting bitcoin as a whole which is also the reason we stuck with our order instead of getting a refund in August when ROI appeared to be nothing but a dream. Who could have predicted the price increase? Anyone. The community as a whole knew the price per BTC was on a steady trajectory, correlated with difficulty and thus the massive support and influx of investment.

What has changed? Too many factors to count. The difficulty definitely is a concern and even now access has increased to those who would build their own mega mining farms.

The only real concern in not crossing ROI threshold is when dedicated bitcoiners turn tail and run from our trusted supports and don't get involved in signing up merchants etc to increase utilization. Bitcoin price is the only place ROI exists; the difficulty is inconsequential if you are the one who owns the most cutting edge mass adoption tool in the industry. This and unyielding work ethic is what sets KnC apart from other companies; your prediction KnC would possibly call it quits after making significant profits turned out to be an unwarranted fear because KnC invests in people first.

If you bought bought a Jupiter in June 2013 ($7,131.80) to date you should have made 40+ btc at roughly 510 gh/s avg. I don't know where else in non BTC land that kind of ROI exist for the average person.


-Jord

People get too hung up on the chip process. There is a good chance that the next generation BitFury, Bitmain, or ASICMiner chips will be just as power efficient as 20 nm Knc chips. I wouldn't be surprised if 40 nm AsicMiner chips are just as power efficient as 20 nm Neptune chips.

At the end of the day, it comes down to power efficiency, cost, stability, and the delivery date. I've seen enough pre-order customers get screwed over and lose out so I'm done with pre-orders.

If Knc offers a competitive product in the future that ships immediately, I'll be back, but until then I'm buying else where.

I suspect that we'll see Chinese manufacturers (mainly AsicMiner and Bitmain) flood the market with cheap hashrate that is delivered immediately in Q2 2014, so the days of companies having their customers take all the risk via pre-orders are numbered...

Of course they're lying. Why did they quote "Q1/Q2"? Q1 was never a possibility. They needed to secure a lot of sales so they could fund their farm. After that, they don't need you silly customers ever again.

See you mid May.

What's the "SNMP community" and "SNMP managers" thing located in the Network tab from the new firmware?

I get 654W Power consumption from the Advanced tab. How many W for the rest of the stuff like coolers and controller board?