Swedish ASIC miner company kncminer.com - page 676.

arlekyn13

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Quote from: RoadStress on February 04, 2014, 11:23:50 AM

Ok so KnC just turned from white to grey for me. While i don't care so much about the Neptune delay, what i care is that they are building a big datacenter in order to cover all Neptune Batch 1 customers in case of delay. That means at least 3Th/s * 1200 units=3600 Th/s just for them (yes they will hash for Batch 1 customers but only in case of a delay and just for a limited amount of time). That 3600Th is more than the promissed 5% (maybe it will be 5% after they ship the Neptunes, but until then it's just greed).

Instead of selling 1-2 Jupiters to previous customers they go their own way and keep all Jupiters for them. Avalon did it, Bitfury did it, BFL did it. The dark side is too powerful in the Bitcoin world.

I think they'll start selling hash rate once they're done with shipping/hosting Neptunes

Ghrindy

newbie

Activity: 47

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This is BAD news!

It seems EVERY (pre-order) mining company starts with promising 'all the world' to their early 'investomers', and as soon as production starts, they somehow forget those promises, and change their priorities to:
'maximising shareholder-value' (and no, 'we' are NOT those shareholders!)

And of all mining-companies, KnC seemed the most honorable, up until this last news statement.

Like some have mentioned here before, it appears KnC couldn't ship Jupiters (OR modules for that matter) not because they couldn't get some components, but just to fill their datacenter first.

which brings me to: Kncminer.cn
this company is is the exclusive reseller/distributor for KnCminers in China. (only mentioned a few times in this 1500-page-thread)

Owner(chairman) of KnCminer.cn is Brock Pierce http://www.linkedin.com/in/brockpierce (a well known bitcoin-entrepeneur)

I wouldn't be surprised if he (BP) didn't resell any of those machines, and just started his own mining-farm in China!

Fck it, i'm out!

RoadStress

legendary

Activity: 1904

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Ok so KnC just turned from white to grey for me. While i don't care so much about the Neptune delay, what i care is that they are building a big datacenter in order to cover all Neptune Batch 1 customers in case of delay. That means at least 3Th/s * 1200 units=3600 Th/s just for them (yes they will hash for Batch 1 customers but only in case of a delay and just for a limited amount of time). That 3600Th is more than the promissed 5% (maybe it will be 5% after they ship the Neptunes, but until then it's just greed).

Instead of selling 1-2 Jupiters to previous customers they go their own way and keep all Jupiters for them. Avalon did it, Bitfury did it, BFL did it. The dark side is too powerful in the Bitcoin world.

bitpop

legendary

Activity: 2912

Merit: 1060

Amazing! Knc #1

DimensionsOfHell

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Merit: 100

Quote from: joeventura on February 04, 2014, 10:05:07 AM

Well they basically mislead Jupiter/Saturn/Mercury customers and caused them to delay making other purchases.

They have had their factory going full tilt likely making 28nm cards that they have no intention of selling to the customers that got them off the ground unless they bought into their next generation of devices (thats a big FU in my book)

Absolutely agree.

Quote from: joeventura on February 04, 2014, 09:46:21 AM

They never mentioned whether they were selling upgrades so I asked that question explicitly,

If the answer comes back NO then I am done with KNC.

They caused me to delay, spend money I didn't need to and I am not a Neptune customer and don't plan on being one.

I also want to know about the Upgrade Modules as they didn't mention anything about it. I'm with Joe, if they don't sell the modules, I'm done with KNC. I've waited for so long to purchase the modules, and nothing.

It seems they don't really give a shit about their first customers, the people that helped them get off the ground, they only care about their current "Neptune" customers.

Guess I'll be adding more Ants to my farm until something better comes along.

EDIT: Anyone think about what happens to all those miners in the newly built data center IF Plan A actually comes through? That is a shit ton of hashing dedicated just to KNC. I'm fairly certain that would be WAY above and beyond the 5% they've declared to mine for them selves.

Cablez

legendary

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I owe my soul to the Bitcoin code...

Yep.......so I'm out boys. I know butt rape when I see it.

dropt

legendary

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No matter what way you slice it, this is bad news for all of us. It doesn't matter if you're a KnC customer or not.

davewr2013

full member

Activity: 238

Merit: 100

Bitcoin For All

I read it as a notice that they will deliver -- but now accept a real possibility of being late... so they are covering their bases.

That means that not completing our order was probably the right call.

I just ran all the numbers based on best guess -- and so far these estimates have been close enough that we are confident in the outcomes. (+/- 5%)

Our Jupiter will still deliver another 7.5 BTC economically -- buying a Neptune with Mid-April delivery would have got us a 4BTC profit. Maybe, maybe not. Mid May delivery no longer seems to pay out with positive ROI.

By doing nothing we are now probably 3.5 - 4BTC ahead.

Good enough for me.

ElGabo

hero member

Activity: 635

Merit: 500

2 Neptune customer batch for sale

Huh

elasticband

legendary

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Nighty Night Don't Let The Trolls Bite Nom Nom Nom

Quote from: joeventura on February 04, 2014, 10:26:09 AM

"We will release more details of this as we get closer to the delivery date, but for now we have one of the world’s largest data centres to build."

Translation - You aren't going hear shit from us for a while.

Yip everyone might best go buy some avalon gen 2 miners or some antminers, the world is doomed Sad

ps love your work but i would love to see a screenshot of that Wink

sbfree

sr. member

Activity: 336

Merit: 250

Quote from: joeventura on February 04, 2014, 10:28:20 AM

So who wants to buy a KNC controller card for a mercury/neptune/saturn?

Don't think I will have a use for it now.

how much?

Every Day Junglist

newbie

Activity: 8

Merit: 0

some news is better than no news...

Biodom

legendary

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Merit: 4597

Quote from: sbfree on February 04, 2014, 09:55:01 AM

Quote from: joeventura on February 04, 2014, 09:42:09 AM

Quote from: sbfree on February 04, 2014, 09:33:58 AM

Quote from: joeventura on February 04, 2014, 09:02:31 AM

Quote from: Biodom on February 03, 2014, 11:23:59 PM

What is the most plausible theory for more than two months of silence re Neptune despite apparent discontent of customers?
Here is my speculation on possibilities (from the most probable #1 to almost impossible #5):
1. They are experiencing significant difficulties with Neptune design and want to overcome those problems before updating.
2. They are positioning to change their business model from selling individual units to the "fair shake" cloudhashing model, where customers will be buying slots in the icelandic super-mine managed by KnC. Everyone who ordered Neptune would be offered a slot with a modest increase in hashing power (to 3.5-4TH), but will have to pay extra for "hosting".
3. They were bought by someone or majority bought by a third party (perhaps even by a government-controlled entity).
4. They were bought/invested into by 21e6 (or merged with 21e6). Alternatively, they were supplying Jupiters to a single unknown party (cloudhashing?).
5. They are resting on their prior success and "taking it easy".

1. No
2. Perhaps
3. No
4. No
5. No

It may not be outside the realm of possibilities that they have other projects they are working on?

JOE hit nail on the head.

insider?
mind reader?
master spy?
or just plain smart?

If you refer to me who is the author of the original post....I am JPS, LOL Wink

atadro

newbie

Activity: 42

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Quote from: DPoS on February 04, 2014, 09:49:08 AM

Quote from: atadro on February 04, 2014, 09:44:55 AM

could someone with better reading comprehension please tell me what the are doing with respect to network protection for pre-Neptune customers? i only see 'perks' for Neptune customers in this, but i only have one coffee in my system so far.

they took all their 28nm production towards neptune and cloudhashing and drank jupiter owners milkshake

ok, so unfortunately i guess there was no good news (for customers) in there that i missed. well, with the exception of those that ordered Neptunes without the ability to self-host.

de_ixie

full member

Activity: 206

Merit: 100

Still think they have the ambition, skills and finance to satisfy every batch with their approach (even the last one which I consider a quite bad investment...) - I am not interested how they do this - but feel confident about their ability to do so

elasticband

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Nighty Night Don't Let The Trolls Bite Nom Nom Nom

Quote from: The Avenger on February 04, 2014, 09:43:13 AM

Quote from: Mogumodz on February 04, 2014, 09:40:21 AM

"Over the next few months we are bringing online enough hashing power to make sure that any delay in the Neptune timeline will be compensated with a completely free hosted hashing packages to all fully paid customers."

Can't people read the word DELAYS??

This means if they deliver in Q3/Q4/2015, you will get compensated with hashing power from their datacentre and they won't charge you for the hosting/electricity.

It seems they know for certain Neptune will be late (Q2), if they are promising this now.

I would say this would be true for the last batch of neptunes that were listed as delivery in Q2.
Due to the batches, one would generally expect B1 customers hashing power would go online before this.

DPoS

sr. member

Activity: 462

Merit: 250

Quote from: lemonte on February 04, 2014, 10:34:43 AM

Plan B is literally just the back-up plan to plan A, so right now we are on track with the current plans. We will have some more information regarding plan B if/when this pathway is due to be executed.

Plan A = last day of Q2... even if they have them earlier they have now shown they rather just mine themselves (or they would sell jupiters now)

The Avenger

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Quote from: DPoS on February 04, 2014, 10:22:09 AM

Quote from: ncs0ne on February 04, 2014, 10:20:35 AM

Quote from: de_ixie on February 04, 2014, 10:16:09 AM

Building the most f***ing uber PHcenter in the world is Plan B? What the heck would Plan A be rofl???

Plan A: deliver on time

Because a plan B is of interest, only, if plan A fails.

Plan B ensures that Plan A will never be more than one day before Plan B kicks in

people who bought neptunes didnt really want neptunes, they just wanted the next miner that KNC would offer to the public.. they truly gave them the master fuck by locking them into future financial chains while keeping all the lucrative 28nm paydirt for their own farming

I think Plan B means:
Blease (yeah, I'm working that spelling Cheesy

) don't all ask for neptune refunds, or we'll have to build the data centre with our own money and not yours Cry

Blease don't make us invest or spend any of our own money - blease!

DPoS

sr. member

Activity: 462

Merit: 250

Quote from: joeventura on February 04, 2014, 10:28:20 AM

So who wants to buy a KNC controller card for a mercury/neptune/saturn?

Don't think I will have a use for it now.

I could buy it off you since I would like to balance out my boards for better OC... let me know

lemonte

hero member

Activity: 624

Merit: 502

Quote from: The Avenger on February 04, 2014, 10:32:00 AM

Speaking of shills, Bitcoinorama was on the forum an hour ago. When did this announcement come out? Oh yeah, over an hour ago.

Nice of the knc Director of Communications to answer all your questions for you. I mean, it's hardly his job is it?

Will his account now go dormant, like the kncminer one did in September? Grin

They are clarifying stuff over on the forum now.

http://forum.kncminer.com/forum/resellers-affilicates/general-questions/29377-plan-b

"Hi guys,

Plan B is literally just the back-up plan to plan A, so right now we are on track with the current plans. We will have some more information regarding plan B if/when this pathway is due to be executed.

If plan B does occur, you will be able to convert over to a hosted hashing package, but again, the fine details of this have not yet been determined at this early stage.

We will have some further updates for you soon.
"

Topic: Swedish ASIC miner company kncminer.com - page 676. (Read 3050075 times)