Topic: Swedish ASIC miner company kncminer.com - page 833. (Read 3050071 times)

What kind of nonsense are you talking? A business that charges what the market will bear for their products is not dishonest. Charging far less than people are willing to pay is called STUPID. If they were priced too high, people wouldn't buy them and the price would go down.
Also, wtf, nobody wants to buy a bitfury board instead of a big powerful jupiter. That's why they are selling. There is ZERO competiton for KNC at the high end right now. BFL is charging 4x the price for similar product speeds. KNC was a few days late with shipping and many / most orders worked fine. That's why you see the hashrate jumping up so much everytime they ship. If all of KNCs products were defective as a few people here would lead you to believe, how does the hashrate get to 8-9PH ?? That's all KNC. I guess I'm just an unpaid knc shill.

I wish I could be paid for this, bitcoinorama, hook me and phoenix up with some swag! I'll take an early notification / order window for the next jupiter sales event, I'm sure phoenix would as well. Hook up your biggest fans!

Hi guys

Is it greed or a good investment .

I studied and weighed up the risks when I heard about mining btc . I went to my bank , borrowed money (with interest) off the GREEDY bank . Bought my Jupiter off GREEDY knc , mined and earnt 30 btc and then sold my Jupiter for 12 btc . I then sold my btc at $1000 each . I had to pay 5% to the GREEDY exchange and then gave the GREEDY bank back their money plus interest .

If I decided to buy more miners does it make me GREEDY or does it make me a good investor ?

The truth is most people  will never know , because you will never really get close enough to know me personally , very few people get to know our inner motives .

Greedy or Shrewed ?   What are we doing here ?   Aren't we all trying to make money ?

Im not defending or attacking knc , the bank or the exchange , they, like me, have all made mistakes. In business (and we "miners", are in business ) we have to learn to accept the losses as well as the rewards .

Over zeallous defending or attacking is stupid and a waste of your energy , it will only cause others not to help you because of your aggression .

True Greed is a big indication of childish behaviour  , what you dish out , you will get back with  interest , be careful what you plant .

To me , over zeallousness in either direction is usually a good sign of GREED

Peace

Pete

And how do you know they get all USD from Bitpay?

Why does everyone seem to think the exchange rate of BTC will have anything to do with the release of a 3rd batch?  KNC don't give a crap about the price of BTC!  They use Bitpay and funds are immediately converted to USD or EUR.  Bitpay assumes all of the risk in a falling market.

If KNC are holding BTC at all it's probably just the coin they've mined.

I'm with opentoe on this one and disagree with the "their sole purpose is to make money". The world is in a shit state because people believe this statement and believe there is nothing else. Companies and/or corporations do not have to be entirely parasitic by nature. All companies need to make a profit, sure. But not at all costs. Given they are based in Sweden, they should know this better than anyone.

If you look at the history of IBM, even though they were a corporation, they were social pioneers in the early days. 40 hour work week introduced in 1933, educating their staff and their staffs children, medical insurance etc. It's only lately corporations have become entirely parasitic.

How did KNC come about? If they spent their own money, invested millions of their own cash to build these and sold them from stock, they could charge whatever they like and it's fair game. They took the risk, the reward should be all theirs. Charge any price they want.

The truth is, they used my money. They used your money. They used the money provided by thousands of guys on the internet, who trusted them with millions. Like Mota said, they took no risk. No risk and all the reward??? That's just greed.

KNC should be like "We would be nothing without the support you have given us. You trusted us with your cash and it allowed us to become millionaires. We are millionaires now and going to enjoy the best Xmas ever. We've made more money than we ever imagined! To say thanks, we are selling X at knocked down price of x. This offer is only available to October guys (ALL of you. We feel sorry now that we told some of you/treated some of you like second class customers), without which we would not be here. It's our way to say thanks. Sorry we were such greedy a-holes and didn't do better to help you when we shipped you faulty goods. That was our fault, not yours, and it's not right we made you pay extra for our mistakes. Now that we are millionaires, we are going to try harder not to be such greedy a-holes."

I hope I get a Xmas card from KNC saying as much!  Or will they cheap out on that too?   And not just a crappy Merry Xmas email - a proper printed Xmas card, handsigned by the KNC millionaires club I helped create. Where is the KNC "we won't forget the support you have shown us" they promised to be when they wanted pre-order money back in June? Parasitic, greedy and liars? That's not good. They really need to start turning things around, because we know they took a dump in their pants last week when they finally saw the competition is not far away and poised to rocket past them. They won't get much customer loyalty in the long run if they continue to try to profiteer from their benefactors.

why are you clowns portraying this?   If they are the total omg greedy merchants some here say, they would of pumped them out non-stop and sold those modules at 3x the price

neptune is a totally different part of the equation when discussing the jupiter roll out.  They have been pretty spot on on how they said they would act as far as the 28nm line

i see where you are coming from, but again as a company, their sole purpose is to make money and dont have to "be nice" and offer discounts. they already did with neptunes which is more than enough. we chose to fund them, they didnt beg me for my money so they dont owe me anything, what they did owe me was my mercury unit which they delivered on time.

Corporate greed is why the US economy is so fucked up. Millions of people losing their homes, poverty at all time high but corporations and banks made profits. Doesn't make sense to me because eventually, even if it years later the shit comes back to haunt you. All the middle class in the US need is one big ass riot. If they aren't working, the the rich aren't getting paid. This is why I have a sore spot for corporate greed. It is unfortunate so many families lost their homes, lost their jobs in what is supposed to be the best country in the world. Not any more.
Ok, way off topic.

But remember, BTC payments only but in a USD price. They are a half bitcoin company.

The company have made a profit. A massive profit. Millions. They are somewhere between $50-100 million in sales, right? That's a very comfortable position.

So there is no reason why they can't thank the people who put them where they are, who gave them a free loan to get them started, by offering them goods at a very low price.

They gave people who ordered knobtunes 25% off, so you'd expect at least that again. And as that was only to 1200 customers, there are probably another 3-5000 customers who could do with a nice deal. Especially the October people, who risked everything on an unknown start-up in Sweden and paid a massive premium for their goods.

And I'm not saying that for me, as I stated before, I would never support a company like this again.

We'll see what they think of their customers and how they show their gratitude soon enough. If they try to profiteer, it says volumes and just adds to the negativity they have created by how they ignore customers once they've taken their money.

Honestly, I don't think you even know what socialist means. Corporate greed would be fully okay with me if they had every miner in hand instead of preorder and would not have any shipping delays.

The thing is, they let the customers fund it completely with their own money, KNC had/has/will have no risk at all and they don't compensate miners for lost revenue because of their delayed shipping.

And for THAT I find the miners completely overpriced; Especially when they offer Neptune with the same conditions.
They advertised their miners in the past as top tier mining equipment and that is why I and many others paid the price they wanted. The reality is that with all those hardware revisions and
(really needed) fw upgrades one could have bought several more mining rigs from their competition with less hassle and perfectly timed shipping.
There is an example for honest business out there, red fury/bitfury. So we see it can be done.

The miners are still priced in $$$... so price matters since that will tell you how many btc you will need to get back.. 

Price doesn't matter.
What matters is if you will be able to mine back the number of Bitcoins you will spend.

And with the current difficulty not going anywhere, but up I personally would not be interested in a Jupiter costing more than 10-12BTC.

Lol the btc price countdown back to 1$ quite awkward
I doubt knc will accept dropping currency (it can take 6 months to go back)

Same experience, I sent it Tuesday, it arrived there on Friday, they shipped the replacement that same Friday, had it Monday.

I had to RMA a module with a dead die last Tuesday and I received the 100% working replacement today! I'm in the US, so I was expecting it to take at least two more days than it did. They even paid for the return shipping. I just wanted to share my experience in case others are considering an RMA.

KNC is waiting for the price to drop below $500 before announcing in stock batch 3 Jupiters, BTC payments only.

At $1000/BTC it's close to $100 million are being generated every month for another few years. Of course that price is unsustainable.

haha, PLUS 1 BILLION.

how dare a company want to make profit!!! I WANT ALL THE PROFIT FOR THE LEAST AMOUNT OF WORK!!!!

Bunch of pussies on here i tell ya

I had a look on ebay the other day though and the price on bitminers seems off the roof there. A Knc jupiter with six bids at almost 20k.



Even if they hold their promise and ship end february/beginning of march (which is when I suppose most people are expecting delivery?) it won't make profit.

I'm not trying to be a dick to those who bought, I am one of the dumb fucks who bought one myself. I did buy a BA X-3 though but with VAT it ends up at 7,5k and it seems like I won't hit break-even even if bitcoins hit 1k.