Swedish ASIC miner company kncminer.com - page 913.

Meizirkki

hero member

Activity: 616

Merit: 500

Quote from: PenAndPaper on November 30, 2013, 10:35:21 AM

Quote from: r1senfa17h on November 30, 2013, 09:43:40 AM

Quote from: PenAndPaper on November 30, 2013, 09:32:24 AM

Quote from: lkthomas on November 30, 2013, 08:44:59 AM

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing Huh

Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

If you're going to keep on trying to derail the thread, please at least take the advertisement off your signature so we can all take you seriously.

r1senfa17h

full member

Activity: 226

Merit: 100

Quote from: PenAndPaper on November 30, 2013, 10:35:21 AM

Quote from: r1senfa17h on November 30, 2013, 09:43:40 AM

Quote from: PenAndPaper on November 30, 2013, 09:32:24 AM

Quote from: lkthomas on November 30, 2013, 08:44:59 AM

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing Huh

Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

I don't think you understand. What I described may have a lower upside potential than simply purchasing bitcoin, but I also have a significantly lower downside potential. As long as KnC offers refunds (which is key), then I have a low chance of losing any USD.

Furthermore, it doesn't matter if I paid in USD or BTC, since it would have costed me the same amount of USD to buy the BTC I needed to purchase the Neptunes at the moment I needed.

The amount of time KnC has my money is relatively trivial while less than 6 months. Perhaps if this investment was a larger part of my portfolio I'd care.

ImI

legendary

Activity: 1946

Merit: 1019

Quote from: Bogart on November 30, 2013, 10:54:47 AM

Quote from: ?? on ??

Quote from: fubly on November 30, 2013, 09:09:45 AM

Any news about NovBatch which was "in progress" and later back to "paid"

My orders all "in progress" and now back to "paid"

Huh

Mine when back to paid but still got UPS tracking number and it was here the next day. Have you got a tracking no.?

I have not yet received a UPS tracking number for my November Jupiter, and November's almost over. I think they have about 7 more hours of November left in Sweden right now.

Quote

All orders placed today will ship in November.

same here

in fact i wouldnt go mad if they deliver next week

what makes me mad is the complete lack of communication......again

i have got a scheduele to make for next week and i have no clue now when to expect the jups. thats f*** sucks!

Bogart

legendary

Activity: 966

Merit: 1000

Quote from: ?? on ??

Quote from: fubly on November 30, 2013, 09:09:45 AM

Any news about NovBatch which was "in progress" and later back to "paid"

My orders all "in progress" and now back to "paid"

Huh

Mine when back to paid but still got UPS tracking number and it was here the next day. Have you got a tracking no.?

I have not yet received a UPS tracking number for my November Jupiter, and November's almost over. I think they have about 7 more hours of November left in Sweden right now.

Quote

All orders placed today will ship in November.

Bogart

legendary

Activity: 966

Merit: 1000

Quote from: timmmers on November 30, 2013, 06:19:45 AM

I didn't want a phone call...a fucking email would have been nice though. 1st I heard was on this forum, hours after the things were sold. I bought a KNC machine mainly based on it's ability to be upgraded

I got an email. Did you not sign up for their email newsletter?

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: r1senfa17h on November 30, 2013, 09:43:40 AM

Quote from: PenAndPaper on November 30, 2013, 09:32:24 AM

Quote from: lkthomas on November 30, 2013, 08:44:59 AM

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

Do you even understand what you are saying? You buy mining equipment with dollars to hedge against bitcoin collapsing Huh

Converting btc to usd is a way to hedge. You don't have to buy mining equipment with those money! (wth isn't that pretty obvious)
On top of that by paying 10k now with the option to get a refund 5(!) months later you are still losing money. It's like giving them a free loan.

Actually you do a bad investment but you are doing it with a hedge strategy against the worst case scenario. It's stiil a bad investment.

lkthomas

newbie

Activity: 35

Merit: 0

Quote from: ?? on ??

Quote from: RoadStress on November 30, 2013, 09:52:00 AM

Quote from: dogjunior on November 30, 2013, 09:49:25 AM

People that say buy BTC not miners just want the difficulty to stay low so that they can mine more BTC. Holding BTC has it's own stress. Friend of mine purchased $20k of BTC when it was near its high during the summer. He then panicked when it dropped below $80 and sold. Unless you have a crystal ball that can predict the future, you are better off buying mining equipment.

Unless your friend really needed the money invested in BTC then he is a big moron. There was no reason to sell at 80$ or even at 10$. He could just hold the BTC for 1-2-5-10 years until the price was right for him. There is simply no explanation for his move only the urgent need of money.

Easy to say! and if you have experience of crypto fair enough, but if you are new and you see a massive drop then im sure a lot of people would do the same. I for one have brought height and sold low... But people fear that BTC is a fad. and for us that are deeply engrossed in crypto we know it's not going to tank, but an outsider doesn't see the world in the same way we do.

But this is a KNCminer thread so. Please can we stay completely related to KnC mining equipment.

Let's stick to topic. I think with mining, you have a control of what the outcome are, also, because it's hard earning coins, you are not easily driven by emotion where trading is VERY emotional some time.

RoadStress

legendary

Activity: 1904

Merit: 1007

Quote from: dogjunior on November 30, 2013, 09:49:25 AM

People that say buy BTC not miners just want the difficulty to stay low so that they can mine more BTC. Holding BTC has it's own stress. Friend of mine purchased $20k of BTC when it was near its high during the summer. He then panicked when it dropped below $80 and sold. Unless you have a crystal ball that can predict the future, you are better off buying mining equipment.

Unless your friend really needed the money invested in BTC then he is a big moron. There was no reason to sell at 80$ or even at 10$. He could just hold the BTC for 1-2-5-10 years until the price was right for him. There is simply no explanation for his move only the urgent need of money.

dogjunior

sr. member

Activity: 407

Merit: 255

People that say buy BTC not miners just want the difficulty to stay low so that they can mine more BTC. Holding BTC has it's own stress. Friend of mine purchased $20k of BTC when it was near its high during the summer. He then panicked when it dropped below $80 and sold. Unless you have a crystal ball that can predict the future, you are better off buying mining equipment.

r1senfa17h

full member

Activity: 226

Merit: 100

Not exactly new info, but here's some interesting insight about another company (Black Arrow) considering 20nm tech through TSMC:

http://ecointalk.net/topic/289-20nm-or-28nm/

r1senfa17h

full member

Activity: 226

Merit: 100

Quote from: PenAndPaper on November 30, 2013, 09:32:24 AM

Quote from: lkthomas on November 30, 2013, 08:44:59 AM

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.

Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.

In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.

sickpig

legendary

Activity: 1260

Merit: 1008

Quote from: ASIC-K on November 30, 2013, 09:38:10 AM

Quote from: sickpig on November 30, 2013, 09:36:36 AM

Quote from: ASIC-K on November 30, 2013, 09:28:59 AM

i really wish KNC would answer their phones once in a awhile....

I don't think CS dept works on saturday.

naw i mean all last week.

sorry then Tongue

ASIC-K

sr. member

Activity: 280

Merit: 250

Hell?

Quote from: sickpig on November 30, 2013, 09:36:36 AM

Quote from: ASIC-K on November 30, 2013, 09:28:59 AM

i really wish KNC would answer their phones once in a awhile....

I don't think CS dept works on saturday.

naw i mean all last week.

sickpig

legendary

Activity: 1260

Merit: 1008

Quote from: ASIC-K on November 30, 2013, 09:28:59 AM

i really wish KNC would answer their phones once in a awhile....

I don't think CS dept works on saturday.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: lkthomas on November 30, 2013, 08:44:59 AM

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.

ASIC-K

sr. member

Activity: 280

Merit: 250

Hell?

i really wish KNC would answer their phones once in a awhile....

fubly

hero member

Activity: 561

Merit: 521

Trustless IceColdWallet

Any news about NovBatch which was "in progress" and later back to "paid"

My orders all "in progress" and now back to "paid"

Huh

fubly

hero member

Activity: 561

Merit: 521

Trustless IceColdWallet

Quote from: sickpig on November 30, 2013, 08:42:16 AM

Quote from: kitcut on November 30, 2013, 08:40:06 AM

I'm order Naptune on 28th.
But, it's automatically cancelled.
Why this?

which payment method? if bank wire this quote from https://www.kncminer.com/news/news-71 could be relevant

Quote

All bank transfers that were initiated before 11:00am CET this morning will be honored. If your order has been cancelled and you have already transfered funds it will be marked as paid when the funds reach our accounts. But as of now do not initiate any more transfers.

If my money really comes back, which was sending for 2 nept on the 27th and for 2 nept on 28th, I will buy five ore more 2 Th/s from bitmine.ch atm i ordered 2 x 2 Th/s 1.Week Feb. 2014

kitcut

newbie

Activity: 9

Merit: 0

Quote from: sickpig on November 30, 2013, 08:42:16 AM

Quote from: kitcut on November 30, 2013, 08:40:06 AM

I'm order Naptune on 28th.
But, it's automatically cancelled.
Why this?

which payment method? if bank wire this quote from https://www.kncminer.com/news/news-71 could be relevant

Quote

All bank transfers that were initiated before 11:00am CET this morning will be honored. If your order has been cancelled and you have already transfered funds it will be marked as paid when the funds reach our accounts. But as of now do not initiate any more transfers.

I choose Bitpay.
And, I will payment the product.
but I can't everything.

lkthomas

newbie

Activity: 35

Merit: 0

Quote from: ?? on ??

THIS IS NOT AN INVESTMENT THREAD, STAY ON TOPIC

If BTC value had gone down you would complain, as it happens BTC value has gone up and guess what people are still complaining. Suck It UP and get on with it, look to the future not the past!!!

well said. Very often people looking at mining business is a short term, 2 weeks business.

It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.

Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.

Topic: Swedish ASIC miner company kncminer.com - page 913. (Read 3050071 times)