Topic: Swedish ASIC miner company kncminer.com - page 707. (Read 3050075 times)

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes and my 2 Jupiters will run and run and run til they don't run any more.    My regret so far was selling one of my jupiters in early November.   Even with the difficulty rises, since mid November, my two Jupiters have created 37BTC.   Moving around 40 BTC to future mining isn't a big deal.   Today each Jupiter makes .15 but that is still $850 a week EACH ($810 BTC price).

I personally like seeing my pile of BTC grow...   I think people are just thinking short term.   You may not get 100% of your invested BTC in 10 days anymore...   got that--

Flip side, if KNC messes up, sure, refunds will be requested.   Nothing has changed since neptune went on sale.   Just relax and good luck.   Good times ahead.

This is likely Naive..but in the USA midwest when faced with these types of corporate farms taking over everyting...we made co-op's they are called....the farmers got together and did  a group co-op elevator....they ..this far out in the midwest could not get elec companies to put in lines/plants...co-op electricty ...same for gas compaines etc

not sure how the bylaws or framework or shares etc work in such an arrangement....but such an endeavor if open books etc would probably kick butt....imho

again i'm probably naive..but my Dad ran a grain elev co-op for years ...started out very small....by the time he retired everyone merged with him.....grain terminals...their own train ..their own bank.....kinda "its a wonderful life" movie for farmers

anyway my 2c worth for what it is worth

Searing

I'd say folks in this thread are more apt to get a refund than the average joe who purchased his system in good faith and is now simply forgetting about it/waiting for it, ie those who don't keep up with what's going on around them.


It's unfortunate but true, that this is the eventual direction Bitcoin is going. A more people-centric crypto coin would be something like scrypt which is much harder to 'simplify hashing' but not hard enough that it becomes a chore.

I've always felt Bitcoin would be the foundation, but we would see better things down the road.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

i think knc will be ok
and at end of these week will be have for sell some moddule

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

I recently received my electric bill for $1700.00 AUD (Australia is 1kw/[email protected] cents) and it's for same period (3 months) of running 3 jupiters, 1 BFL little single plus air-con running 20% of the time.  BTW, I'm running Jupiter firmware 0.95 with only draws average 580W each
 
when I add 2 (maybe 3) Neptunes it will probably triple the power cost.  

or
IF Google adopt it to take on Paypal that could be more like 2016. Or Amazon. Or both.
Google have done some things that no-one even imagined would work out ...like driving a camera car down all those streets...and we now take it for granted. Some of those cars were even robots. Bitcoin is no stretch at all for their wallet.
The head of Paypal showed his lack of common sense by saying they would consider it when the price stabilized...as if them getting into botcoins woudn't have any effect on the price lmao

I used to share Pheonixes optimism but think he was a little too optimistic on timescale ..recently I've seen so much good stuff from everywhere that matters I think he maybe right. I also had no real idea what other uses the system has on top of just paying for stuff. Coloured coins atc.

Don't be fooled by me translating the 0.005 btc into dollars, it was just for the sake of clarity.

I'm a miner and I never cash-out xtc right away after having mined it. I cash-out very rarely and only if I really need it and only for the amount that I have to spend. Or just because the thing I have to buy is available in btc only.

The real question you need to ask is: what you will be able to buy with 0.005 xtc by 2015 (I don't dare to move time horizon further than that

And how much will $750 a month buy at 2140 inflation levels?

@bitcoinorama any news on upgrade modules ?   

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

You're right mate, a lot of very positive stuff seems to be on the verge of happening. I think you're thinking similarly to me that your coins will be worth seriously more in say 5 years so if they don't break even at the moment you're mining them eventually that will right itself retrospectively? IF you read reddit posts recently, especially the Google reply to an email and how that's panning out, you'd be hard pressed to be pessimistic about the future of bitcoin.
For me though, mining seems like it could easily be a way to swap a number of bitcoins for a smaller number of bitcoins. A gamble on manufacturer, what they can do, will do, what their competitors will do, and the thing that really bothers me most...what other major but dark players are doing, which can all screw up the most enthusiastic research.
Someone on a podcast mentioned something that made me smile about bitcoin, the fact that in theory at least, you can walk across borders with your wealth in your head. Just by knowing your wallet details. Doesn't get safer or more convenient than that does it?

It's already been a wild ride, I don't think we've started yet. I think we now come to the really good bit. Adoption. Payday for all of us, the people who want cash, the people who want to change the world's financial systems and make them fairer, we'll all win.

I will ask a refund as well (first hour preorder), because KNC changed its priorities from "deliver as fast as possible" to "develop as well as possible".  Their priority switched to building huge data-centers for hosting, which priority conflicts with our (and yours) priority to mine at least ROI.  ROI isn't possible if KNC delivers weeks/months too late.

Even my second-day Jupiter isn't getting ROI: I mined currently 50 BTC, and maybe this will be 60 at the end of this year. But that still will be less than would I have bought BTC in Jun-2013.  Prospectives for Neptune (first day preorder) are even worse, so better to refund, and buy BTC instead....

Sorry KNC but I'm not willing to prefund your Data-center ambitions....without a decent ROI for me.

Couldn't find a decent offer for my day 1 preorder neptune (customer appreciation batch) so i have requested a refund. Lucy at KnC responded to my email in less than 30 minutes.

I have sent the bank details and will let you know how long it takes to arrive. Lucy says 3 to 10 days so i guess KnC are processing the requests straight away and the time it takes it the normal wire transfer time

I think more like 15 to 20 billion. It looks to me like about a dozen companies are about to deliver before april.
            BUT
All those noob miners and new btc users will also be creating "Dead Bitcoin days" driving the price up with a BTC shortage, as the usage increases, and the speculation increases..., which will save us in fiat returns.
Eventually, the transaction fees per block will also become a more significant value as the block sizes increase etc.... untill finally... After the last Bitcoin is issued, that's all that miners will have or need.... transaction fees.
Many good things to come in btc very soon.... Wells Fargo, Google, E-Bay, TigerDirect, PayPal, Borse, Forex, "Bitcoin ATM's", Campaign Donations, IRA's, Military and humanitarian aid, new exchanges popping up everywhere, and best of all, The Chairman of the Federal Reserve himself endorsed Bitcoin.  Need I say more?
I see a future, where there is no "Checkout" in stores at all. The device on the product has either been paid for, or not.. by scanning the QRcode with your android Dick-Tracey watch.... Soon.
Everyone will have a BTC wallet on their phone.
No more digging for change on the bus, or toll roads, or parking meters, paid toilets, Phone booths, vending machines, McDonald's, and all those other annoying places you seem to have to dig for change!
No more bank or store robberies!
No more pickpockets.
Disability "checks" will be deposited on the 1st every month in btc.
Real-Estate transactions will clear escrow in minutes.
There will be no need for "ATM"s or banks for most.
"Checking accounts" will disappear, and those using old fiat will be under suspicion.
Remember that time your buddy went to Vegas, had a blast, brought a hooker to the room, fell asleep, and when he woke up, his wallet and a kidney were missing? That's not likely to happen any more... except for the kidney...hahaha..  except, this time, they track down the hooker, and your kidney, because her wallet recorded a block transmitted from your phone, which was traced via GPS.
Someday it will be embedded directly in your I.D. ...Remember NWO?   ahemmm..., right along with a portion of the block-chain, and be solar or everlasting battery powered with built in retina scanners. Personalized advertisements will play on your phone or ID based on your past purchases and places you visit online as you walk around stores offering coupons and discounts.
This is just the beginning of the world's wealth re-distribution.
The blockchain will literally be transmitted pocket-to pocket(already happening), and some will find they've become sterile from being a wireless hotspot all the time....  lol
Just a year ago, a cashless society was a pipe-dream....   This is gonna be a wild ride!..... and the name KnCminer will live to the end of time.
Those with the most efficient miners will enjoy a residual income forever, which is probably why KNC is going hard at efficiency. Considering the rate of adaptation, and the rate at which coins are produced, leads me to one inevitable conclusion... HUGE price rises, ongoing, in waves, for years to come... Keep those coin folks. Facts be known, I could buy two brand new 2014 Subaru Foresters with the BTC I made from KNCMiner products, or a fixer-upper home... but I know better than to cut myself short by cashing them in.... all, and more than my original fiat has been removed from the pot too. It's pure profit from here on out....
May we all see our dreams come true...  Good night all.

I fully agree to that, but you must declare them in usd and not in the btc you have spend. 

You will be writing off capital expenditure too though, that could make a big difference.